SBIN
State Bank of India share price & financials
- Price
- ₹1,035.1
- Market cap
- ₹10.0L Cr
- Sector
- Financial Services
- Calls analysed
- 7
State Bank of India Q1 FY27
What went well
- Record net profit of ₹21,121 crore, supported by healthy operating performance and disciplined cost management.
- Operating Profit grew by 9.77% YoY, indicating strong underlying business performance.
- Domestic Net Interest Margin (NIM) maintained at 3%, reinforcing confidence in full-year guidance.
What to watch
- Deposit growth of 0.5% and advances growth of 0.32% were lower than some other banks, though overall business grew 1.33%.
- Uptick in gross and net NPA absolute numbers and SMA 2, with fresh slippages rising to ₹7,000 crore from ₹5,500 crore.
What State Bank of India does
State Bank of India is India's largest commercial bank, offering retail personal, agriculture, SME, corporate and international banking alongside treasury operations. It earns primarily from interest on advances (home, auto, personal, agri and corporate loans) funded by its deposit franchise, supplemented by fee income, forex and government-business commissions. The wider group also operates through subsidiaries spanning life insurance, credit cards, asset management, general insurance and investment banking.
Segments
- Retail Personal Banking
- Corporate Banking
- SME
- Agriculture
- International Banking
- Treasury Operations
- Market position
- Largest bank in India
- Customer base
- ~52 crore
- Branches
- 23,265 (across 17 circles)
- ATMs (incl. ADWMs)
- 63,791 (13,366 ADWMs)
- Active debit card users
- 24.07 crore
- YONO registered users
- 10.02 crore
Guidance record · Q1 FY27
what the last two calls moved 21 tracked 2 delivered 13 missed 6 open- Return on Equity (RoE) went quiet said Q3 FY25 Promised: over 15% Q1 FY27: Not mentioned in the Q1 FY27 earnings call.
- Overall Credit Growth revised up said Q4 FY26 Promised: 13% to 15% for FY27 Q1 FY27: Guidance for FY27 overall credit growth revised upwards to 14-15%.
- Fee Income as % of Overall Income open said Q1 FY27 Promised: 20% Q1 FY27: Stated potential to increase fee income from 15% to 20% of overall income.
All 21 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 8.4%, net profit up 13.6% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,21,045 | 1,24,654 | 1,26,840 | 1,25,729 | 1,28,040 +6% | 1,30,386 +5% | 1,31,080 +3% | 1,36,240 +8% |
| Net profit | 20,565 | 19,484 | 20,379 | 22,121 | 21,861 +6% | 22,176 +14% | 20,508 +1% | 25,121 +14% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance +21.7% 1Y
1Y: ₹818.2 on 10 Sept 2025 → ₹995.7. High ₹1,227.8 (23 Feb 2026), low ₹818.2 (10 Sept 2025).
How the price took the results
close before → close after
- Q1 FY27
- +1.1%
- 7 Aug
- Q4 FY26
- −6.7%
- 8 May
- Q3 FY26
- +7.5%
- 7 Feb
- Q2 FY26
- +0.8%
- 4 Nov
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue grew 13.7% a year over 3 years, FY23 to FY26.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹350.8k Cr | ₹439.2k Cr | ₹490.8k Cr | ₹515.2k Cr |
| Interest | ₹190.0k Cr | ₹259.7k Cr | ₹300.9k Cr | ₹315.0k Cr |
| Depreciation | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Net profit | ₹57.8k Cr | ₹69.5k Cr | ₹80.5k Cr | ₹86.7k Cr |
| Net margin | 16.5% | 15.8% | 16.4% | 16.8% |
| ROE | 17.0% | 17.0% | 17.0% | 15.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹892 Cr | ₹892 Cr | ₹892 Cr | ₹892 Cr | ₹923 Cr | ₹923 Cr |
| Reserves | ₹274.7k Cr | ₹304.7k Cr | ₹358.0k Cr | ₹414.0k Cr | ₹568.4k Cr | ₹595.2k Cr |
| Borrowings | ₹433.8k Cr | ₹449.2k Cr | ₹521.2k Cr | ₹639.6k Cr | — | ₹777.3k Cr |
| Deposits | ₹3715.3k Cr | ₹4087.4k Cr | ₹4468.5k Cr | ₹4966.5k Cr | — | ₹6043.1k Cr |
| Other liabilities | ₹420.9k Cr | ₹518.7k Cr | ₹605.8k Cr | ₹712.7k Cr | ₹798.2k Cr | ₹904.6k Cr |
| Total liabilities | ₹4845.6k Cr | ₹5360.9k Cr | ₹5954.4k Cr | ₹6733.8k Cr | ₹7673.4k Cr | ₹8321.2k Cr |
| Fixed assets | ₹41.6k Cr | ₹41.0k Cr | ₹45.9k Cr | ₹46.1k Cr | ₹54.4k Cr | ₹59.8k Cr |
| Capital work in progress | ₹116 Cr | ₹28 Cr | ₹66 Cr | ₹42 Cr | ₹0 Cr | ₹78 Cr |
| Investments | ₹1595.1k Cr | ₹1776.5k Cr | ₹1913.1k Cr | ₹2110.5k Cr | ₹2276.6k Cr | ₹2359.5k Cr |
| Other assets | ₹3208.8k Cr | ₹3543.3k Cr | ₹3995.4k Cr | ₹4577.1k Cr | ₹5342.4k Cr | ₹5901.8k Cr |
| Total assets | ₹4845.6k Cr | ₹5360.9k Cr | ₹5954.4k Cr | ₹6733.8k Cr | ₹7673.4k Cr | ₹8321.2k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, promoters trimmed −1.95 pp while FIIs added +1.48 pp. The shareholder count grew 4% to 38,98,366.
- Promoters
- 55.5%
- FIIs
- 10.8%
- DIIs
- 26.5%
- Government
- 0.1%
- Public
- 7.1%
Since Jun 2025
- Promoters −1.95 pp
- FIIs +1.48 pp
- DIIs +0.98 pp
How it drifted, 12 quarters
Over this window DIIs went from 24.4% to 26.5% — +2.2 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 57.5%, FIIs 10.7%, DIIs 24.4%, Government 0.0%, Public 7.4%.Dec '23: Promoters 57.5%, FIIs 10.9%, DIIs 24.1%, Government 0.0%, Public 7.4%.Mar '24: Promoters 57.5%, FIIs 11.1%, DIIs 24.0%, Government 0.0%, Public 7.4%.Jun '24: Promoters 57.5%, FIIs 11.2%, DIIs 23.6%, Government 0.0%, Public 7.7%.Sep '24: Promoters 57.5%, FIIs 10.7%, DIIs 24.0%, Government 0.1%, Public 7.7%.Dec '24: Promoters 57.4%, FIIs 10.3%, DIIs 24.8%, Government 0.1%, Public 7.3%.Mar '25: Promoters 57.4%, FIIs 9.9%, DIIs 24.9%, Government 0.1%, Public 7.5%.Jun '25: Promoters 57.4%, FIIs 9.3%, DIIs 25.5%, Government 0.1%, Public 7.6%.Sep '25: Promoters 55.5%, FIIs 9.6%, DIIs 27.6%, Government 0.1%, Public 7.1%.Dec '25: Promoters 55.5%, FIIs 10.3%, DIIs 27.0%, Government 0.1%, Public 7.0%.Mar '26: Promoters 55.5%, FIIs 11.4%, DIIs 26.1%, Government 0.1%, Public 6.8%.Jun '26: Promoters 55.5%, FIIs 10.8%, DIIs 26.5%, Government 0.1%, Public 7.1%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- NPS Trust Schemes Pension / PF +0.23 pp 2.22% held
- ICICI Mutual Fund Schemes Mutual fund +0.17 pp 1.38% held
- Nippon Life India Mutual Fund Schemes Mutual fund +0.09 pp 1.32% held
The same filing shows 2 holders trimming and 0 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of State Bank of India above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| President Of India | 55.47% | −0.05 pp |
| Life Insurance Corporation Of India Insurer | 8.53% | −0.25 pp |
| SBI Mutual Fund Schemes Mutual fund | 3.40% | unchanged |
| NPS Trust Schemes Pension / PF | 2.22% | +0.23 pp |
| HDFC Mutual Fund Schemes Mutual fund | 1.74% | unchanged |
| ICICI Mutual Fund Schemes Mutual fund | 1.38% | +0.17 pp |
| Nippon Life India Mutual Fund Schemes Mutual fund | 1.32% | +0.09 pp |
| Kotak Mutual Fund Schemes Mutual fund | 1.04% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Mutual funds in SBIN
Filings to Aug 2026
0 new, 23 added, 23 trimmed, 3 sold out — net −56.23 L shares (−1.0%).
- Held by funds
- ₹57.7k Cr
- 86 schemes
- Biggest holder
- SBI Nifty 50 ETF
- ₹8.5k Cr · 4.0% of that fund
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| SBI Nifty 50 ETF SBI Mutual Fund | ₹8.5k Cr | +4.22 L | Aug '21 |
| SBI BSE Sensex ETF SBI Mutual Fund | ₹5.9k Cr | +5.51 L | Aug '21 |
| HDFC Flexi Cap Fund HDFC Mutual Fund | ₹4.6k Cr | held | Dec '22 |
| HDFC Balanced Advantage Fund HDFC Mutual Fund | ₹3.6k Cr | held | Dec '22 |
| SBI Aggressive Hybrid Fund SBI Mutual Fund | ₹3.5k Cr | held | Aug '21 |
| SBI Focused Fund SBI Mutual Fund | ₹2.9k Cr | −30.00 L | Sep '21 |
| Nippon India ETF Nifty 50 BeES Nippon India Mutual Fund | ₹2.7k Cr | +5.06 L | Jan '19 |
| SBI Large Cap Fund SBI Mutual Fund | ₹2.0k Cr | held | Aug '21 |
HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.
Mutual funds Aug 2026
23 added, 23 trimmed — net −56.23 L shares (−1.0%)
- Funds are sitting on
- +54%
- vs est. average cost
- Held by funds
- ₹57.7k Cr
- 86 schemes · ≈ 5.7% of the company
- Biggest holder
- SBI Nifty 50 ETF
- ₹8.5k Cr · 4.0% of that fund
- Longest holder
- Nippon India Large Cap Fund
- 14y · since Sep '12
Shares held by these funds +19%
Aug '23 55.46 cr shares Jul '26
All earnings calls (7)
Read the Q1 FY27 call →Learn to analyse State Bank of India
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