SV

Street Verdict

Analyst Scorecard

SBIN · NSE

State Bank of India

₹996.2

+0.76% (+₹7.5)

Prev. close

₹988.7

Volume

56,99,456

Delivery %

63.9%

As of

18 Sept 2026

Price history

Bullish

Equirus Securities Analysis · Equirus Securities · 21 Jul 2026

“Initiated coverage on SBI Funds Management shares with a 'Long' rating and a March 2027 target price of ₹675, implying an 18% upside from the issue price of ₹574. The company is a strong franchise, backed by scale, SBI's distribution, sticky SIP flows, and strong profitability, positioning it to benefit from India's financialisation trend.”

Published mid-session at 10:18 IST. Tracking counts only prices printed after publication — the chart's dashed divider marks that moment; earlier prices never count toward entry or results.

Target ₹675PENDINGCall pageClear
₹996.2-₹48.2 (-4.62%) · CALL
21 Jul 2026 → 18 Sept 2026
₹1,097.2Target ₹675Entry ₹1,044.421 Jul07 Aug24 Aug04 Sept18 SeptCall published 10:18
Equirus Securities Analysis's call · 21 Jul 2026

Analyst sentiment

Analysts lean bullish

34 analyst stances · last 90 days · one per analyst

Trackable

26 · 21 bull / 2 neutral / 3 bear

Long-Horizon

1 · 1 bull / 0 neutral / 0 bear

Commentary

7 · 6 bull / 1 neutral / 0 bear

Trackable = verdict-bearing calls · Long-Horizon = 1yr+ horizon, verdict pending · Commentary = context, not graded

Bullish 82% (28)Neutral 9% (3)Bearish 9% (3)
Explore by date range →

Analyst opinions

CallAnalystInstrumentVerdictActions
“Initiated coverage on SBI Funds Management shares with a 'Long' rating and a March 2027 target price of ₹675, implying a…”Equirus Securities AnalysisEquirus SecuritiesSBIPENDING
“Initiated coverage on SBI Funds Management shares with a 'Long' rating and a March 2027 target price of ₹675, implying an 18% upside from the issue price of ₹574. The company is a strong franchise, backed by scale, SBI's distribution, sticky SIP flows, and strong profitability, positioning it to benefit from India's financialisation trend.”
Rating & targetTarget ₹675Track opinion →

This call hasn't reached its evaluation window yet — the verdict will appear here once it's graded.

Read the original article

Long-Horizon calls · 1yr+ horizon · verdict pending

CallAnalystInstrumentVerdictActions
Market commentary · 12 · levels, conditionals, previews, macro & hedged views — context, not graded
CallAnalystInstrumentVerdictActions

Fundamentals

About State Bank of India

State Bank of India provides banking products and services in India and internationally. The company operates through the Treasury, Corporate/Wholesale Banking, Retail Banking, and Other Banking Business segments. It offers personal banking products and services, including current, savings, salary, and deposit accounts; home, personal, pension, auto, education, and gold loans, as well as loans against insurance property, and securities; debit, business debit, prepaid, and green remit cards; overdrafts; mutual funds, insurance, equity trading, portfolio investment schemes, remittance services; digital lending; and mobile, internet, and digital banking services. The company also provides corporate banking products and services comprising corporate accounts, working capital and project finance, deferred payment guarantees, corporate term loans, structured finance, dealer and channel financing, equipment leasing, loan syndication, construction equipment loans, financing Indian firms' overseas subsidiaries or JVs, and cash management, as well as trade and service products. In addition, it offers NRI services, including accounts, investments, loans, and remittances; agricultural banking services; and international banking services. Further, it provides life and general insurance; estate planning services; merchant banking and advisory; securities broking; trusteeship service; factoring; payment solution; asset management; portfolio and investment management; credit cards; and custody and fund accounting services. State Bank of India was founded in 1806 and is headquartered in Mumbai, India.

Details

Sector

Financial Services

Industry

Banks - Regional

CEO

Mr. Rana Ashutosh Kumar Singh

Headquarters

Mumbai

Employees

2,45,131

Key stats

Market cap

₹9.16 L Cr

P/E ratio (TTM)

10.6

Dividend yield

1.75%

EPS (TTM)

₹93.23

Beta (1Y · daily vs NIFTY 50)

1.08

Beta (5Y · monthly vs NIFTY 50)

1.16

Shares float

407.01 Cr

EPS · quarter ended Jun 2026

₹26.11

Upcoming earnings

04 Nov 2026

Financial Performance

01 · Financials

0 L Cr2 L Cr4 L Cr6 L Cr₹-40%-20%0%20%FY21FY22FY23FY24FY25FY26
RevenueNet incomeRevenue growth YoY

FY21 growth needs FY20 filings, which the data source doesn't provide.

02 · Earnings Per Share (EPS)

0255075100₹FY21FY22FY23FY24FY25FY26

03 · Dividend Profile

05101520₹0%20%40%60%80%03 Jun 2125 May 2231 May 2322 May 2416 May 2515 May 26
Dividend (₹/share)Annualised yieldAnnual dividend growth (FY)

Growth compares completed fiscal-year dividend totals on the company's own calendar: April–March (Indian FY), taken from its reported period-ends. Payout ledger: NSE corporate actions.

04 · Operating Efficiency (Growth Rates)

Balance-sheet-based · pre-FY23 not filed in verifiable form

-50%-25%0%25%FY21FY22FY23FY24FY25FY26
SalesFixed assets

05 · Capital Structure & Asset Utilization

Pre-FY23 not filed in verifiable form

0 L Cr25 L Cr50 L Cr75 L Cr100 L Cr₹0×0.5×1×1.5×2×FY21FY22FY23FY24FY25FY26
Total assetsTotal debtDebt / equityAsset turnover

Asset turnover needs a prior year of assets — omitted for the earliest available year.

06 · Asset Base Composition

Pre-FY23 not filed in verifiable form

0 Cr20000 Cr40000 Cr60000 Cr₹FY21FY22FY23FY24FY25FY26

07 · Debt Level & Coverage

Pre-FY23 not filed in verifiable form

-5 L Cr0 L Cr5 L Cr10 L Cr₹FY21FY22FY23FY24FY25FY26
DebtFree cash flowCash & equivalents

08 · Profit & Loss

Annual

Line itemFY21FY22FY23FY24FY25FY26
₹3.84 L Cr₹4.07 L Cr₹2.70 L Cr₹3.24 L Cr₹3.50 L Cr₹3.82 L Cr
₹22,405.45 Cr₹35,373.88 Cr₹55,648.17 Cr₹67,084.67 Cr₹77,561.34 Cr₹83,298.78 Cr
Diluted EPS₹25.11₹39.64₹62.35₹75.17₹86.91₹91.16

Interest expense has filed figures for only some of the years shown — no further verified source covers the rest, so those years are left blank rather than estimated.

09 · Balance Sheet

Annual

Line itemFY21FY22FY23FY24FY25FY26
₹48.46 L Cr₹53.61 L Cr₹59.54 L Cr₹67.34 L Cr₹73.14 L Cr₹83.22 L Cr
Total debt₹4.34 L Cr₹4.49 L Cr₹5.21 L Cr₹5.57 L Cr₹6.18 L Cr₹7.27 L Cr
Stockholders' equity₹2.76 L Cr₹3.06 L Cr₹3.59 L Cr₹4.15 L Cr₹4.87 L Cr₹5.96 L Cr

Annual only — the data source doesn’t publish quarterly balance-sheet detail for most NSE-listed companies.

10 · Cash Flow Statement

Annual

Line itemFY21FY22FY23FY24FY25FY26
₹89,918.94 Cr₹57,694.85 Cr₹-86,013.68 Cr₹21,632.43 Cr₹45,484.01 Cr₹38,097.39 Cr
Investing cash flow₹-3,736.23 Cr₹-3,618.51 Cr₹-4,040.97 Cr₹-4,251.72 Cr₹-5,634.74 Cr₹-690.88 Cr
₹7,142.67 Cr₹-3,844.53 Cr₹6,386.38 Cr₹-9,896.28 Cr₹-10,736.79 Cr₹-3,427.14 Cr
Capital expenditure₹-3,828.03 Cr₹-3,050.92 Cr₹-4,043.63 Cr₹-4,175.13 Cr₹-5,637.22 Cr₹-8,362.96 Cr
End cash position₹3.48 L Cr₹3.99 L Cr₹3.18 L Cr₹3.27 L Cr₹3.58 L Cr₹4.02 L Cr

Debt issued, Debt repaid have filed figures for only some of the years shown — no further verified source covers the rest, so those years are left blank rather than estimated.

Annual only — the data source has no quarterly cash-flow-statement coverage.

11 · Shareholding Pattern

NSE, quarterly

Line itemSep 21Dec 21Mar 22Jun 22Sep 22Dec 22Mar 23Jun 23Sep 23–Dec 23(2Q)Mar 24–Jun 24(2Q)Sep 24Dec 24–Mar 25(2Q)Jun 25Jul 25–Dec 25(3Q)Mar 26Jun 26
Promoter57.62%57.60%57.59%57.57%57.52%57.50%57.49%57.47%57.49%57.54%57.51%57.43%57.42%55.50%55.52%55.47%
Public42.38%42.40%42.41%42.43%42.48%42.50%42.51%42.53%42.51%42.46%42.49%42.57%42.58%44.50%44.48%44.53%
Employee trusts0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Source: NSE quarterly shareholding-pattern filings, collapsed to periods where the reported percentages held steady — a column spanning several quarters means no change was filed across them. No FII/DII sub-split available from this source — Public includes all non-promoter, non-employee-trust holders.

12 · Peer Comparison

Financial Services

Company
HDFC Bank Limited₹11.27 L Cr₹73116.21.388.6%0.81+4.7%-25.2%
ICICI Bank Limited₹9.75 L Cr₹1,347.617.62.6914.9%0.57+9.1%-5.0%
State Bank of India₹9.16 L Cr₹996.210.61.5414.0%1.22+9.2%+16.6%
Bajaj Finance Limited₹6.31 L Cr₹1,040.331.15.5416.7%3.10+19.7%+4.4%
Life Insurance Corporation Of India₹5.06 L Cr₹407.78.42.8732.5%—+8.7%-54.2%
Kotak Mahindra Bank Limited₹4.08 L Cr₹41520.52.2510.6%0.53-0.3%-79.5%
Axis Bank Limited₹3.86 L Cr₹1,24014.01.8012.3%1.30+4.0%+10.1%
Bajaj Finserv Limited₹2.98 L Cr₹1,852.529.43.8212.6%4.64+13.6%-10.5%
Shriram Finance Limited₹2.34 L Cr₹1,01017.63.5515.2%2.76+13.9%+61.1%
SBI Life Insurance Company Limited₹1.77 L Cr₹1,73168.09.2912.9%—-4.3%-5.0%
ICICI Prudential Asset Management Company Limited₹1.53 L Cr₹3,09843.836.5779.1%—+23.1%—
Jio Financial Services Limited₹1.51 L Cr₹229.8971.21.131.2%0.16+136.4%-27.6%

Ranked by market cap within Financial Services, same metrics as the Fundamentals screener. Click a column to sort.

Documents

Annual reports

Show all 29

Official documents linked from their sources — offer documents as filed with SEBI (sebi.gov.in), annual reports and earnings-call transcripts as published on BSE (bseindia.com) and NSE (nseindia.com). Links open the source's own hosting; nothing is re-hosted here.

Index membership

76 indices

Nifty PSU Bank· 63.5%BSE PSU BANK· 24.9%BSE PSU· 19.2%NIFTY500 Value 50· 17.7%Nifty200 Value 30· 17.0%Nifty Alpha 50· 14.4%Nifty500 Multifactor MQVLv 50· 13.9%NIFTY100 Alpha 30· 13.4%Nifty100 Liquid 15· 11.5%Nifty Bank· 11.4%Nifty Dividend Opportunities 50· 10.8%NIFTY Alpha Quality Value Low-Volatility 30· 10.1%

NSE weights are a free-float market-cap-share estimate, not NSE’s own published (and sometimes capped) index weight. BSE weights are BSE’s own published index weight, not an estimate. Indices without weight data are listed without one, in alphabetical order after the weighted ones.

SBIN

State Bank of India Stock Update: SBIN Rises 0.69% on Positive Sector Mood

State Bank of India (SBIN) stock rose 0.69% to ₹998.20 in early intraday trade, extending gains amid positive sentiment in the banking sector. The upward movement is partly attributed to the impending IPO of the National Stock Exchange, where SBI is a selling shareholder. The bank is also expanding its wealth management services.

2 days ago·Read at LatestLY
SBIN

State Bank Of India (SBIN) Share Price Falls 2.17% Today

Univest · 18 days ago