āagmanLoginNot investment advice. Data and computed figures, for information only.
State Bank of India
₹962.60
+₹2.60 (+0.27%)
NSE · 16 Oct 2026, close
Market Cap
₹8,85,323 Cr
CMP
₹962.60
52-wk High / Low
₹1,235 / 882
P/E
10.5
P/B
1.4
Book Value
₹674.0
Div Yield
1.81%
ROCE
6.1%
ROE
15.0%
Face Value
₹1
D/E
11.44
Price+9.0% over 1Y
āagman read
Computed by āagmanPiotroski F-Score
2
/ 9
2 of 9 F-score tests passed
Graham Number
₹1,170
√(22.5 × EPS × book value per share)
Cash flow to profit
0.44
CFO / PAT
Above 1.0 = operating cash flow exceeded reported profit
Sustainable growth
12.1%
ROE × earnings retention ratio
ROE stability
1.7
pp σ
Standard deviation of ROE across periods. Lower = more stable
Holder deltas
QoQ
pp
Prom −0.05FII −0.60DII +0.41
Latest quarter vs the previous one
Cash-accrual divergence
0.6%
of assets
Low = accruals track cash flow
Strengths
+Annualised volatility of 23.6% is in the low band (≤25%)
+FII holding rose by 0.9pp over the last year
+PE of 10.5x is below the sector median of 20.4x
Watch-outs
−Latest ROCE of 6.1% trails the sector median of 9.4%
−Borrowings are up 115.1% since FY2016 (361399 to 777302)
−Price trades below its 200-day moving average (0.9x)
−Promoter holding fell by 2.0pp over the last year
−Piotroski F-Score of 2/9 is in the weak band (≤3)
Peer comparison
| Name | P/E | Mar Cap ₹ Cr | ROCE % | ROE % |
|---|
Quarterly results
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,01,460 | 1,07,391 | 1,12,868 | 1,17,469 | 1,18,242 | 1,21,045 | 1,24,654 | 1,26,840 | 1,25,729 | 1,28,040 | 1,30,386 | 1,31,080 | 1,36,240 |
| Expenses | 49,080 | 59,365 | 62,635 | 65,418 | 53,996 | 62,709 | 64,890 | 74,438 | 59,496 | 72,265 | 76,799 | 75,050 | 64,930 |
| Operating Profit | — | — | — | — | — | — | — | — | — | — | — | — | — |
| OPM % | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Income | 30,873 | 36,865 | 33,103 | 47,445 | 33,883 | 42,758 | 43,200 | 52,722 | 41,263 | 50,884 | 55,262 | 49,999 | 43,821 |
| Interest | 58,045 | 62,955 | 68,092 | 70,644 | 71,701 | 73,619 | 77,397 | 78,227 | 78,266 | 78,002 | 78,783 | 79,953 | 82,248 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 25,208 | 21,936 | 15,245 | 28,852 | 26,428 | 27,474 | 25,566 | 26,897 | 29,229 | 28,657 | 30,067 | 26,076 | 32,884 |
| Net Profit | 19,094 | 16,648 | 11,598 | 22,203 | 20,094 | 20,565 | 19,484 | 20,379 | 22,121 | 21,861 | 22,176 | 20,508 | 25,121 |
| EPS (₹) | 20.77 | 18.04 | 12.40 | 23.96 | 21.65 | 22.17 | 21.12 | 21.96 | 23.76 | 22.90 | 23.09 | 21.28 | 26.12 |
Profit & Loss
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 2,07,974 | 2,20,633 | 2,30,447 | 2,28,970 | 2,53,322 | 2,69,852 | 2,78,115 | 2,89,973 | 3,50,845 | 4,39,189 | 4,90,313 | 5,14,933 | 5,25,747 |
| Expenses | 96,675 | 1,09,985 | 1,45,666 | 1,69,065 | 1,66,104 | 1,72,909 | 1,92,821 | 1,97,349 | 2,04,303 | 2,39,750 | 2,52,043 | 2,78,781 | 2,89,045 |
| Operating Profit | — | — | — | — | — | — | — | — | — | — | — | — | — |
| OPM % | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Income | 49,315 | 52,828 | 68,193 | 77,557 | 77,365 | 98,159 | 1,07,222 | 1,17,000 | 1,22,534 | 1,55,386 | 1,73,031 | 1,97,711 | 1,99,967 |
| Interest | 1,33,179 | 1,43,047 | 1,49,115 | 1,46,603 | 1,55,867 | 1,61,124 | 1,56,010 | 1,56,194 | 1,89,981 | 2,59,736 | 3,00,943 | 3,15,005 | 3,18,986 |
| Depreciation | 1,581 | 2,252 | 2,915 | 3,105 | 3,496 | 3,662 | 3,711 | 3,691 | 3,696 | 3,849 | 3,991 | 4,830 | 0 |
| Profit before tax | 25,855 | 18,177 | 945 | −12,245 | 5,220 | 30,317 | 32,796 | 49,739 | 75,399 | 91,240 | 1,06,365 | 1,14,028 | 1,17,683 |
| Net Profit | 17,832 | 13,019 | −97 | −3,749 | 3,351 | 21,140 | 23,888 | 37,183 | 57,750 | 69,543 | 80,523 | 86,666 | 89,665 |
| EPS (₹) | 22.76 | 15.75 | 0.30 | −5.11 | 2.58 | 22.15 | 25.11 | 39.64 | 62.35 | 75.17 | 86.91 | 90.24 | 93.39 |
Balance Sheet
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 747 | 776 | 797 | 892 | 892 | 892 | 892 | 892 | 892 | 892 | 892 | 923 | — |
| Reserves | 1,60,641 | 1,79,816 | 2,16,395 | 2,29,429 | 2,33,603 | 2,50,168 | 2,74,669 | 3,04,696 | 3,58,039 | 4,14,047 | 4,86,144 | 5,95,208 | — |
| Other Liabilities | 2,40,149 | 2,76,472 | 2,88,391 | 2,94,860 | 2,99,676 | 3,39,364 | 4,20,926 | 5,18,719 | 6,05,796 | 7,12,669 | 7,75,938 | 9,04,646 | — |
| Total Liabilities | 26,99,161 | 30,72,321 | 34,41,760 | 36,16,439 | 38,88,460 | 41,97,486 | 48,45,615 | 53,60,878 | 59,54,415 | 67,33,756 | 73,13,730 | 83,21,176 | — |
| Fixed Assets | 12,924 | 15,415 | 51,189 | 42,035 | 39,941 | 39,608 | 41,600 | 41,032 | 45,880 | 46,072 | 47,716 | 59,772 | — |
| CWIP | 400 | 786 | 695 | 925 | 762 | 470 | 116 | 28 | 66 | 42 | 41 | 78 | — |
| Investments | 6,73,507 | 8,07,375 | 10,27,281 | 11,83,794 | 11,19,270 | 12,28,284 | 15,95,100 | 17,76,490 | 19,13,108 | 21,10,548 | 22,05,601 | 23,59,502 | — |
| Other Assets | 20,12,329 | 22,48,746 | 23,62,594 | 23,89,685 | 27,28,487 | 29,29,123 | 32,08,798 | 35,43,328 | 39,95,361 | 45,77,093 | 50,60,371 | 59,01,824 | — |
| Total Assets | 26,99,161 | 30,72,321 | 34,41,760 | 36,16,439 | 38,88,460 | 41,97,486 | 48,45,615 | 53,60,878 | 59,54,415 | 67,33,756 | 73,13,730 | 83,21,176 | — |
| Deposits | 20,52,961 | 22,53,858 | 25,99,811 | 27,22,178 | 29,40,541 | 32,74,161 | 37,15,331 | 40,87,411 | 44,68,536 | 49,66,537 | 54,39,898 | 60,43,097 | — |
| Borrowing | 2,44,663 | 3,61,399 | 3,36,366 | 3,69,079 | 4,13,748 | 3,32,901 | 4,33,796 | 4,49,160 | 5,21,152 | 6,39,610 | 6,10,857 | 7,77,302 | — |
Cash Flows
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 19,142 | 26,297 | 14,477 | 77,406 | −96,508 | 29,556 | 23,929 | 89,919 | 57,695 | −86,014 | 21,632 | 45,484 | 38,097 |
| Cash from Investing Activity | −791 | −3,424 | −2,747 | −4,572 | 13,053 | 220 | −555 | −3,670 | −2,652 | −966 | −3,476 | −3,387 | 9,240 |
| Cash from Financing Activity | 3,583 | −1,553 | 4,348 | −4,196 | 5,547 | 448 | 5,430 | 7,143 | −3,845 | 6,386 | −9,896 | −10,737 | −3,427 |
| Net Cash Flow | 21,934 | 21,320 | 16,078 | 68,638 | −77,908 | 30,223 | 28,803 | 93,392 | 51,198 | −80,593 | 8,260 | 31,361 | 43,910 |
Ratios
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % | — | — | — | — | — | — | — | — | — | — | — | — | 6.1 |
| ROE % | 10.0 | 11.0 | 7.0 | 0.0 | −2.0 | 1.0 | 7.0 | 9.0 | 12.0 | 17.0 | 17.0 | 17.0 | 15.0 |
| EPS (₹) | 18.99 | 22.76 | 15.75 | 0.30 | −5.11 | 2.58 | 22.15 | 25.11 | 39.64 | 62.35 | 75.17 | 86.91 | 90.24 |
| Book Value (₹) | — | — | — | — | — | — | — | — | — | — | — | — | 674.0 |
| Face Value (₹) | — | — | — | — | — | — | — | — | — | — | — | — | 1 |
| P/E | — | — | — | — | — | — | — | — | — | — | — | — | 10.5 |
| Div Yield % | — | — | — | — | — | — | — | — | — | — | — | — | 1.81 |
| NPM % | — | 6.9 | 4.8 | −0.0 | −1.2 | 1.0 | 5.7 | 6.2 | 9.1 | 12.2 | 11.7 | 12.1 | 12.2 |
| OPM % | — | — | — | — | — | — | — | — | — | — | — | — | — |
| D/E | — | 14.24 | 14.48 | 13.52 | 13.42 | 14.30 | 14.37 | 15.06 | 14.85 | 13.90 | 13.51 | 12.42 | 11.44 |
| P/B | — | — | — | — | — | — | — | — | — | — | — | — | 1.4 |
Growth
Compounded sales growth
10 years+9.0%
5 years+13.0%
3 years+14.0%
TTM+6.0%
Compounded profit growth
10 years+21.0%
5 years+30.0%
3 years+14.0%
TTM+6.0%
Stock price CAGR
10 years+14.0%
5 years+15.0%
3 years+18.0%
Last year+9.0%
Return on equity
10 years11.0%
5 years16.0%
3 years17.0%
Last year15.0%
Documents
Announcements
Announcement under Regulation 30 (LODR)-Newspaper PublicationCompliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018Closure of Trading WindowAnnouncement under Regulation 30 (LODR)-Analyst / Investor Meet - OutcomeRevision Of Interest Payment Date Due To 27.09.2026 (Sunday) Being A Working DayCorporate actions
15 May 2026DIVIDENDDividend - Rs 17.35 Per Share—
16 May 2025DIVIDENDDividend - Rs 15.90 Per Share—
22 May 2024DIVIDENDDividend - Rs 13.70 Per Share—
31 May 2023DIVIDENDDividend - Rs 11.30 Per Share—
25 May 2022DIVIDENDDividend - Rs 7.10 Per Share—
3 Jun 2021DIVIDEND Dividend - Rs 4 Per Share—
26 May 2017DIVIDEND Dividend - Rs 2.60 Per Share (Purpose Revised)—
3 Jun 2016DIVIDEND Dividend - Rs 2.60/- Per Share—
28 May 2015DIVIDENDDividend - Rs 3.50/- Per Share (Purpose Revised)—
20 Nov 2014SPLITFace Value Split Rs.10/- To Re.1/- Per Share10 : 1
29 May 2014DIVIDENDAnnual General Meeting And Dividend Rs 15 Per Share (Purpose Revised)—
11 Mar 2014DIVIDENDInterim Dividend Rs 15 Per Share—
28 May 2013DIVIDENDDividend Rs 41.50 Per Share (Purpose Revised)—
24 May 2012DIVIDENDAnnual General Meeting And Dividend Rs 35 Per Share (Purpose Revised)—
20 May 2011DIVIDENDDividend-Rs.30/- Per Share (Purpose Revised)—
9 Jun 2010DIVIDENDFinal Dividend-Rs.20/- Per Share (Purpose Revised)—
Fundamentals from a third-party compiler of exchange filings; prices from the exchanges. Not investment advice.© 2026 āagman