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State Bank of India

SBIN

NSE

₹973.70+1.15%19 Oct 2026

Reports

PSU Banks

State Bank of India

SBIN

NSE

₹973.70

+1.15%

19 Oct 2026

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PSU Banks

Indices

Business Overview: What the company does, in plain English.Growth Catalysts: The forward growth drivers and triggers.Guidance Report: Management guidance vs outcomes.Forensic Report: Accounting quality and red flags.Deep Dive Report: In-depth business analysis.

State Bank of India is the largest commercial bank in India and a proxy for the Indian economy itself, serving over 53 crore customers through a universal banking model that touches every corner of the country’s financial life. Born from the Bank of Calcutta in 1806 and constituted by an Act of Parliament in 1955, the institution was forged into its modern shape by the merger of its associate banks and, more recently, by a decade-long bet on technology that produced the YONO digital platform. The recurring approach is a ‘phygital’ strategy - pairing the largest physical network of 22,219 branches with a digital backbone that now handles 94% of all transactions, making the bank a low-cost deposit-gathering machine that funds lending across every segment from farmers to Fortune 500 companies.

Business segments

Four engines at different stages - a deposit-and-lending powerhouse that funds the nation, a corporate and international franchise that finances infrastructure and trade, a treasury that manages the surplus, and a financial conglomerate of market-leading subsidiaries that cross-sell insurance, cards, and investments - all fed by a shared digital backbone.

1. Domestic banking: the deposit engine that lends to a nation

A structural advantage in low-cost deposits - nearly three times the savings balances of the next largest bank - lets SBI lend to every segment of the Indian economy while earning a healthy spread.

Cheapest deposit base in the system - the domestic CASA ratio (current and savings accounts that pay little or no interest) was 39.46%, with savings bank deposits alone at ₹18.8 trillion, so the bank’s cost of funds stays low and its net interest margin holds at 3.03%.
Largest home lender in the country - a ₹9.4 lakh crore home loan book commands 28.1% market share, and the bank also leads in auto loans (18.7% share) and education loans, making it the default choice for retail borrowing.
The farmer’s bank - agriculture lending crossed ₹2,58,612 Crore, serving more than 1.45 crore farmers, with pre-approved dairy loans up to ₹3 lakh without collateral and a dedicated YONO Krishi digital platform, so credit reaches the countryside without a branch visit.
Government’s banker by default - SBI is the sole refund banker for income tax, the sole payment banker for EPFO (7.5 crore subscribers), and the exclusive customs-duty collector at all 37 international airports, earning a steady stream of fee income (₹4,696 crore in government commissions in FY26) while cementing a relationship no competitor can easily dislodge.
The cleanest book in two decades - gross NPAs at 1.49% and net NPAs at 0.39% mean the bank is no longer provisioning for past mistakes; instead, recoveries from written-off accounts contributed ₹10,054 crore to income in FY26.

2. Corporate and institutional banking: the infrastructure financier

When a power plant, port, or highway needs funding in India, SBI is the arranger that competitors say they don’t see in the race.

Preferred banker for financial closures - the Project Finance and Structuring unit appraises and syndicates loans for large-scale infrastructure across power, roads, ports, and airports, with management stating “we don’t see any competition” in this space.
Safe corporate book - roughly 40% of corporate advances are to PSUs and government departments, and 73% of the corporate rating mix is AA or above, so the risk of default is concentrated in the safest names.
Transaction banking locks in current accounts - technology-driven cash management products and dedicated transaction banking hubs in 27 cities help corporates manage their money, which builds a ₹3.81 trillion current account base that lowers the bank’s overall cost of deposits.
Trade finance at scale - two global trade finance centres in Hyderabad and Kolkata handle letters of credit and bank guarantees, with 72% of import LCs and 86% of inland LCs now processed digitally, speeding up trade for corporate clients.

3. International banking: the diaspora’s window to India

A network of 245 offices across 29 countries captures the savings of Indians abroad and finances the trade flows that connect them to home.

NRI deposits as a stable funding source - with a 22% market share in NRI deposits and a base of roughly 37 lakh NRI customers, the bank gathers foreign-currency savings through 83 dedicated NRI branches and tie-ups with 55 exchange houses in the Middle East.
Lending follows Indian corporates overseas - the international loan book of ₹7.4 lakh crore is split roughly one-third each between local lending, India-linked loans, and trade finance, with the US and UK alone accounting for 44% of the book.
Clean international book - the gross NPA ratio for the international portfolio was just 0.13%, reflecting a deliberate pause in riskier geographies and a focus on lending where the bank understands the credit.
YONO goes global - the digital app is now available in the US, UK, Canada, and several other markets, with more than 2,07,000 overseas customers onboarded and non-face-to-face account opening live in the UK and Canada, so NRIs can bank without visiting a branch.

4. Financial services ecosystem: the cross-sell conglomerate

SBI owns market-leading positions in life insurance, mutual funds, credit cards, and general insurance - each a standalone leader that feeds off the parent’s customer base.

India’s largest mutual fund manager - SBI Funds Management has been the market leader since Q4 FY20, with a quarterly average AUM of ₹12.5 lakh crore and a 15.3% market share, plus the largest ETF franchise at 33% share.
Private life insurance leader - SBI Life is number one among private players in new business premium across every major category, with an embedded value of ₹80,791 crore and a distribution army of 2.8 lakh individual agents layered on top of SBI’s branch network.
Second-largest credit card issuer - SBI Cards holds 2.21 crore cards in force with an 18.6% market share, and it acquires customers digitally through partnerships with PhonePe, Tata Neu, and Flipkart.
The investment banking arm that arranges the most loans - SBICAPS ranked number one in India borrower loans as mandated lead arranger with a 22.6% market share, and its broking subsidiary serves more than 26 lakh customers.
Pension fund giant - SBI Pension Funds manages ₹5,14,753 crore in AUM with a 35.63% market share among pension fund managers, and it is the default manager for the government’s Unified Pension Scheme.

YONO and digital backbone

A digital bank within the bank - 10 crore registered users, 94% of all transactions digital, and an in-house payment aggregator - turns SBI’s physical scale into a data-rich acquisition and cross-sell engine.

Digital acquisition at scale - 66% of new savings accounts are now opened through YONO, with roughly 42,000 registrations and 28,000 accounts opened daily, so the branch is becoming a service centre rather than an origination point.
Own payment rails - SBI contributes about 27% of all UPI transactions in India, has 25 crore debit cards in circulation, and is the only bank with its own in-house payment aggregator (SBIePay), integrated with 40 other banks.
Data scientists as a competitive weapon - an in-house team of over 45 data scientists runs more than 90 live models, generating end-to-end Digital Asset Business worth INR 40,472 Crores in FY24 (~30% of total advances business from Analytical Leads), while generative AI tools are already deployed for staff knowledge management and back-office automation.
Corporate digital banking - YONO for Business processed 51.6 crore transactions worth ₹297 lakh crore in FY26, and the API banking channel lets corporates plug their own systems directly into SBI’s infrastructure.

Group structure and partners

A listed parent with controlling stakes in three separately listed subsidiaries - SBI Life, SBI Cards, and soon SBI Funds Management - plus a web of wholly-owned arms that dominate their niches.

SBI holds 55.33% of SBI Life Insurance, 68.58% of SBI Cards and Payment Services, and 61.91% of SBI Funds Management, with an IPO of the latter approved in November 2025 and expected to list in 2026.
Wholly-owned subsidiaries include investment bank SBICAPS, factoring arm SBI Factors, and operations support company SBOSS, which deploys over 8,100 field staff to support rural and semi-urban branches.
The bank operates seven foreign banking subsidiaries - including in the UK, US, Canada, and Mauritius - and one joint associate, Bank of Bhutan (20%).
SBI sponsors nine Regional Rural Banks under the “One State One RRB” framework, with 4,181 branches across 196 districts, extending the group’s reach into the deepest rural pockets.
Recent structural moves include the divestment of the entire stake in Jio Payments Bank (June 2025), the sale of a 13.18% stake in Yes Bank to Sumitomo Mitsui (September 2025), and RBI approval to establish a digital payments intelligence platform to combat fraud using AI and blockchain, with approval to hold shares in excess of 30%.

Quick Ratios

Quarterly Results

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Balance Sheet

Cash Flow

Ratios

Peer Comparison

Quick Ratios

Quarterly Results

Profit & Loss

Balance Sheet

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Ratios

Peer Comparison

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Mkt Cap

Market Capitalization

₹8,98,800Cr

Close Price

₹973.70

Industry

PSU Banks

Price To Earnings

10.44

Price To Sales

1.71

Revenue

₹5,25,747Cr

Rev Gr TTM

Revenue Growth TTM

5.52%

PAT Gr TTM

PAT Growth TTM

8.84%

Consolidated

Standalone

Numbers

Percentage

Quarter	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue RevenueCr	1,07,391	1,12,868	1,17,469	1,18,242	1,21,045	1,24,654	1,26,840	1,25,729	1,28,041	1,30,386	1,31,080	1,36,240
Growth YoY Revenue Growth YoY%	27.1	23.3	19.8	16.5	12.7	10.4	8.0	6.3	5.8	4.6	3.3	8.4
Interest Expended Interest ExpendedCr	62,955	68,092	70,644	71,701	73,619	77,397	78,227	78,266	78,002	78,783	79,953	82,248
Expenses ExpensesCr	59,365	62,635	65,418	53,997	62,709	64,890	74,438	59,496	72,265	76,799	75,050	64,930
Financing Profit Financing ProfitCr	-14,930	-17,858	-18,593	-7,455	-15,283	-17,634	-25,825	-12,034	-22,227	-25,196	-23,923	-10,938
FPM FPM%	-13.9	-15.8	-15.8	-6.3	-12.6	-14.2	-20.4	-9.6	-17.4	-19.3	-18.3	-8.0
Other Income Other IncomeCr	36,865	40,203	47,445	33,883	42,758	43,200	52,722	41,263	47,857	55,262	49,999	43,821
Depreciation DepreciationCr	0	0	0	0	0	0	0	0	0	0	0	0
PBT PBTCr	21,936	15,245	28,852	26,428	27,474	25,566	26,897	29,229	28,657	30,067	26,076	32,884
Tax TaxCr	5,553	3,962	7,115	6,747	7,255	6,391	6,955	7,602	7,152	8,191	5,914	8,305
PAT PATCr	16,383	11,283	21,736	19,681	20,220	19,175	19,941	21,627	21,504	21,876	20,161	24,579
Growth YoY PAT Growth YoY%	9.1	-28.0	18.5	5.0	23.4	70.0	-8.3	9.9	6.3	14.1	1.1	13.7
NPM NPM%	15.3	10.0	18.5	16.6	16.7	15.4	15.7	17.2	16.8	16.8	15.4	18.0
EPS EPS₹	18.0	12.4	24.0	21.6	22.2	21.1	22.0	23.8	22.8	23.1	21.3	26.1
Ratios Ratios

Quarter	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue RevenueCr	1,07,391	1,12,868	1,17,469	1,18,242	1,21,045	1,24,654	1,26,840	1,25,729	1,28,041	1,30,386	1,31,080	1,36,240
Growth YoY Revenue Growth YoY%	27.1	23.3	19.8	16.5	12.7	10.4	8.0	6.3	5.8	4.6	3.3	8.4
Interest Expended Interest ExpendedCr	62,955	68,092	70,644	71,701	73,619	77,397	78,227	78,266	78,002	78,783	79,953	82,248
Expenses ExpensesCr	59,365	62,635	65,418	53,997	62,709	64,890	74,438	59,496	72,265	76,799	75,050	64,930
Financing Profit Financing ProfitCr	-14,930	-17,858	-18,593	-7,455	-15,283	-17,634	-25,825	-12,034	-22,227	-25,196	-23,923	-10,938
FPM FPM%	-13.9	-15.8	-15.8	-6.3	-12.6	-14.2	-20.4	-9.6	-17.4	-19.3	-18.3	-8.0
Other Income Other IncomeCr	36,865	40,203	47,445	33,883	42,758	43,200	52,722	41,263	47,857	55,262	49,999	43,821
Depreciation DepreciationCr	0	0	0	0	0	0	0	0	0	0	0	0
PBT PBTCr	21,936	15,245	28,852	26,428	27,474	25,566	26,897	29,229	28,657	30,067	26,076	32,884
Tax TaxCr	5,553	3,962	7,115	6,747	7,255	6,391	6,955	7,602	7,152	8,191	5,914	8,305
PAT PATCr	16,383	11,283	21,736	19,681	20,220	19,175	19,941	21,627	21,504	21,876	20,161	24,579
Growth YoY PAT Growth YoY%	9.1	-28.0	18.5	5.0	23.4	70.0	-8.3	9.9	6.3	14.1	1.1	13.7
NPM NPM%	15.3	10.0	18.5	16.6	16.7	15.4	15.7	17.2	16.8	16.8	15.4	18.0
EPS EPS₹	18.0	12.4	24.0	21.6	22.2	21.1	22.0	23.8	22.8	23.1	21.3	26.1
Ratios Ratios

Consolidated

Standalone

Numbers

Percentage

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Revenue RevenueCr	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
Growth Revenue Growth%	6.1	4.5	-0.6	10.6	6.5	3.1	4.3	21.0	25.2	11.6	5.0	5.5
Interest Expended Interest ExpendedCr	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
Expenses ExpensesCr	1,09,985	1,45,666	1,69,064	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
Financing Profit Financing ProfitCr	-32,399	-64,334	-86,697	-68,649	-64,181	-70,715	-63,571	-43,439	-60,297	-62,674	-78,853	-82,284
FPM FPM%	-14.7	-27.9	-37.9	-27.1	-23.8	-25.4	-21.9	-12.4	-13.7	-12.8	-15.3	-15.7
Other Income Other IncomeCr	52,828	68,193	77,557	76,899	92,377	1,07,222	1,17,000	1,22,534	1,55,386	1,73,031	1,97,711	1,96,940
Depreciation DepreciationCr	2,252	2,915	3,105	3,496	3,662	3,711	3,691	3,696	3,849	3,991	4,830	0
PBT PBTCr	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
Tax TaxCr	5,434	1,336	-8,058	2,151	12,140	8,516	13,382	18,840	23,102	27,348	28,860	29,562
PAT PATCr	13,019	-97	-3,749	3,351	21,140	23,888	37,183	57,750	69,543	80,523	86,666	88,121
Growth PAT Growth%	-27.0	-100.8	-3,749.8	189.4	530.9	13.0	55.7	55.3	20.4	15.8	7.6	8.8
NPM NPM%	5.9	0.0	-1.6	1.3	7.8	8.6	12.8	16.5	15.8	16.4	16.8	16.8
EPS EPS₹	15.9	0.3	-5.3	2.6	22.1	25.1	39.6	62.4	75.2	86.9	91.2	93.3

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Revenue RevenueCr	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
Growth Revenue Growth%	6.1	4.5	-0.6	10.6	6.5	3.1	4.3	21.0	25.2	11.6	5.0	5.5
Interest Expended Interest ExpendedCr	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
Expenses ExpensesCr	1,09,985	1,45,666	1,69,064	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
Financing Profit Financing ProfitCr	-32,399	-64,334	-86,697	-68,649	-64,181	-70,715	-63,571	-43,439	-60,297	-62,674	-78,853	-82,284
FPM FPM%	-14.7	-27.9	-37.9	-27.1	-23.8	-25.4	-21.9	-12.4	-13.7	-12.8	-15.3	-15.7
Other Income Other IncomeCr	52,828	68,193	77,557	76,899	92,377	1,07,222	1,17,000	1,22,534	1,55,386	1,73,031	1,97,711	1,96,940
Depreciation DepreciationCr	2,252	2,915	3,105	3,496	3,662	3,711	3,691	3,696	3,849	3,991	4,830	0
PBT PBTCr	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
Tax TaxCr	5,434	1,336	-8,058	2,151	12,140	8,516	13,382	18,840	23,102	27,348	28,860	29,562
PAT PATCr	13,019	-97	-3,749	3,351	21,140	23,888	37,183	57,750	69,543	80,523	86,666	88,121
Growth PAT Growth%	-27.0	-100.8	-3,749.8	189.4	530.9	13.0	55.7	55.3	20.4	15.8	7.6	8.8
NPM NPM%	5.9	0.0	-1.6	1.3	7.8	8.6	12.8	16.5	15.8	16.4	16.8	16.8
EPS EPS₹	15.9	0.3	-5.3	2.6	22.1	25.1	39.6	62.4	75.2	86.9	91.2	93.3

Consolidated

Standalone

Numbers

Percentage

Financial Year	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 Equity CapitalCr	776	797	892	892	892	892	892	892	892	892	923	923
Reserves ReservesCr	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	6,21,017
Deposits DepositsCr	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	60,73,777
Borrowings BorrowingsCr	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	8,20,334
Other Liabilities Other LiabilitiesCr	2,77,634	2,91,753	2,94,853	2,99,683	3,39,371	4,20,930	5,18,725	6,05,800	7,12,693	7,76,393	9,05,038	8,87,179
Total Liabilities Total LiabilitiesCr	30,73,483	34,45,122	36,16,433	38,88,467	41,97,492	48,45,619	53,60,884	59,54,418	67,33,779	73,14,185	83,21,569	84,03,229
Fixed Assets Fixed AssetsCr						40,167	39,510	44,407	44,708	46,338	57,152	57,327
Investments InvestmentsCr	8,07,375	10,27,281	11,83,794	11,19,248	12,28,284	15,95,100	17,76,490	19,13,108	21,10,548	22,05,601	23,59,502	24,00,495
Advances AdvancesCr	20,44,187	20,87,836	21,82,552	24,92,021	26,71,314	28,53,850	31,37,683	36,65,916	42,38,403	46,92,852	54,86,432	55,95,901
Cash Equivalents Cash EquivalentsCr	2,04,559	2,73,197	1,95,289	2,25,512	2,54,315	3,47,707	3,98,905	3,18,312	3,26,572	3,57,933	4,01,843
Other Assets Other AssetsCr	17,363	56,808	54,798	51,686	43,578	8,795	8,295	12,675	13,547	11,462	16,639	3,49,506
Total Assets Total AssetsCr	30,73,483	34,45,122	36,16,433	38,88,467	41,97,492	48,45,619	53,60,884	59,54,418	67,33,779	73,14,185	83,21,569	84,03,229

Financial Year	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 Equity CapitalCr	776	797	892	892	892	892	892	892	892	892	923	923
Reserves ReservesCr	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	6,21,017
Deposits DepositsCr	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	60,73,777
Borrowings BorrowingsCr	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	8,20,334
Other Liabilities Other LiabilitiesCr	2,77,634	2,91,753	2,94,853	2,99,683	3,39,371	4,20,930	5,18,725	6,05,800	7,12,693	7,76,393	9,05,038	8,87,179
Total Liabilities Total LiabilitiesCr	30,73,483	34,45,122	36,16,433	38,88,467	41,97,492	48,45,619	53,60,884	59,54,418	67,33,779	73,14,185	83,21,569	84,03,229
Fixed Assets Fixed AssetsCr						40,167	39,510	44,407	44,708	46,338	57,152	57,327
Investments InvestmentsCr	8,07,375	10,27,281	11,83,794	11,19,248	12,28,284	15,95,100	17,76,490	19,13,108	21,10,548	22,05,601	23,59,502	24,00,495
Advances AdvancesCr	20,44,187	20,87,836	21,82,552	24,92,021	26,71,314	28,53,850	31,37,683	36,65,916	42,38,403	46,92,852	54,86,432	55,95,901
Cash Equivalents Cash EquivalentsCr	2,04,559	2,73,197	1,95,289	2,25,512	2,54,315	3,47,707	3,98,905	3,18,312	3,26,572	3,57,933	4,01,843
Other Assets Other AssetsCr	17,363	56,808	54,798	51,686	43,578	8,795	8,295	12,675	13,547	11,462	16,639	3,49,506
Total Assets Total AssetsCr	30,73,483	34,45,122	36,16,433	38,88,467	41,97,492	48,45,619	53,60,884	59,54,418	67,33,779	73,14,185	83,21,569	84,03,229

Consolidated

Standalone

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Operating Cash Flow Operating Cash FlowCr	14,477	77,406	-96,508	29,556	23,929	89,919	57,695	-86,014	21,632	45,484	38,097
Investing Cash Flow Investing Cash FlowCr	-3,669	-2,832	11,066	-857	-3,324	-3,736	-3,619	-4,041	-4,252	-5,635	-691
Financing Cash Flow Financing Cash FlowCr	4,348	-4,196	5,547	448	5,430	7,143	-3,845	6,386	-9,896	-10,737	-3,427
Net Cash Flow Net Cash FlowCr	16,078	68,638	-77,908	30,223	28,803	93,392	51,198	-80,593	8,260	31,361	43,910
Free Cash Flow Free Cash FlowCr	10,701	72,982	-89,906	26,550	20,864	86,091	54,644	-86,014	17,457	39,847	29,734
CFO To EBITDA CFO To EBITDA%	-44.7	-120.3	111.3	-43.0	-37.3	-127.2	-90.8	198.0	-35.9	-72.6	-48.3

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Operating Cash Flow Operating Cash FlowCr	14,477	77,406	-96,508	29,556	23,929	89,919	57,695	-86,014	21,632	45,484	38,097
Investing Cash Flow Investing Cash FlowCr	-3,669	-2,832	11,066	-857	-3,324	-3,736	-3,619	-4,041	-4,252	-5,635	-691
Financing Cash Flow Financing Cash FlowCr	4,348	-4,196	5,547	448	5,430	7,143	-3,845	6,386	-9,896	-10,737	-3,427
Net Cash Flow Net Cash FlowCr	16,078	68,638	-77,908	30,223	28,803	93,392	51,198	-80,593	8,260	31,361	43,910
Free Cash Flow Free Cash FlowCr	10,701	72,982	-89,906	26,550	20,864	86,091	54,644	-86,014	17,457	39,847	29,734
CFO To EBITDA CFO To EBITDA%	-44.7	-120.3	111.3	-43.0	-37.3	-127.2	-90.8	198.0	-35.9	-72.6	-48.3

Consolidated

Standalone

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Current
Valuation Ratios Valuation Ratios
Market Cap Market CapitalizationCr	1,50,831	2,33,305	2,23,204	2,86,302	1,75,770	3,25,168	4,40,340	4,67,382	6,71,666	6,88,624	9,04,416	8,98,800
Price To Earnings Price To Earnings	12.3	975.3		124.3	8.9	14.5	12.4	8.4	10.0	8.9	10.9	10.4
Price To Sales Price To Sales	0.7	1.0	1.0	1.1	0.7	1.2	1.5	1.3	1.5	1.4	1.8	1.7
Price To Book Price To Book	0.8	1.3	1.1	1.4	0.8	1.3	1.6	1.4	1.7	1.5	1.6	1.5
EV To EBITDA EV To EBITDA	-9.5	-4.6	-4.6	-6.9	-4.0	-5.8	-7.7	-15.4	-16.3	-15.0	-16.2	-90.3
Profitability Ratios Profitability Ratios
FPM FPM%	-14.7	-27.9	-37.9	-27.1	-23.8	-25.4	-21.9	-12.4	-13.7	-12.8	-15.3	-15.7
NPM NPM%	5.9	0.0	-1.6	1.3	7.8	8.6	12.8	16.5	15.8	16.4	16.8	16.8
ROCE ROCE%	5.8	4.8	4.0	4.5	5.0	4.3	4.3	5.0	5.8	6.2	5.8	5.8
ROE ROE%	7.2	0.0	-1.6	1.4	8.4	8.7	12.2	16.1	16.8	16.5	14.5	14.2
ROA ROA%	0.4	0.0	-0.1	0.1	0.5	0.5	0.7	1.0	1.0	1.1	1.0	1.1
Solvency Ratios Solvency Ratios

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Current
Valuation Ratios Valuation Ratios
Market Cap Market CapitalizationCr	1,50,831	2,33,305	2,23,204	2,86,302	1,75,770	3,25,168	4,40,340	4,67,382	6,71,666	6,88,624	9,04,416	8,98,800
Price To Earnings Price To Earnings	12.3	975.3		124.3	8.9	14.5	12.4	8.4	10.0	8.9	10.9	10.4
Price To Sales Price To Sales	0.7	1.0	1.0	1.1	0.7	1.2	1.5	1.3	1.5	1.4	1.8	1.7
Price To Book Price To Book	0.8	1.3	1.1	1.4	0.8	1.3	1.6	1.4	1.7	1.5	1.6	1.5
EV To EBITDA EV To EBITDA	-9.5	-4.6	-4.6	-6.9	-4.0	-5.8	-7.7	-15.4	-16.3	-15.0	-16.2	-90.3
Profitability Ratios Profitability Ratios
FPM FPM%	-14.7	-27.9	-37.9	-27.1	-23.8	-25.4	-21.9	-12.4	-13.7	-12.8	-15.3	-15.7
NPM NPM%	5.9	0.0	-1.6	1.3	7.8	8.6	12.8	16.5	15.8	16.4	16.8	16.8
ROCE ROCE%	5.8	4.8	4.0	4.5	5.0	4.3	4.3	5.0	5.8	6.2	5.8	5.8
ROE ROE%	7.2	0.0	-1.6	1.4	8.4	8.7	12.2	16.1	16.8	16.5	14.5	14.2
ROA ROA%	0.4	0.0	-0.1	0.1	0.5	0.5	0.7	1.0	1.0	1.1	1.0	1.1
Solvency Ratios Solvency Ratios

	SBIN	PNB	UNIONBANK	BANKBARODA	INDIANB	CANBK	IDBI
Market CapitalizationMkt CapCr	8,98,800	1,40,099	1,37,939	1,23,182	1,15,415	1,10,662	88,428
Close PriceClose₹	973.70	121.90	180.70	238.20	856.85	122.00	82.24
IndustryIndustry	PSU Banks	PSU Banks	PSU Banks	PSU Banks	PSU Banks	PSU Banks	PSU Banks
Price To EarningsPE	10.44	6.14	6.27	6.78	8.73	5.43	10.64
Price To SalesPS	1.71	1.04	1.26	0.90	1.61	0.85	2.86
RevenueRevenueCr	5,25,747	1,34,543	1,09,300	1,36,546	71,835	1,30,895	30,953
Revenue Growth TTMRev Gr TTM%	5.5%	3.9%	1.3%	4.9%	11.3%	4.0%	7.0%
PAT Growth TTMPAT Gr TTM%	8.8%	33.5%	18.2%	-8.0%	16.7%	12.7%	-10.4%

	SBIN	PNB	UNIONBANK	BANKBARODA	INDIANB	CANBK	IDBI
Market CapitalizationMkt CapCr	8,98,800	1,40,099	1,37,939	1,23,182	1,15,415	1,10,662	88,428
Close PriceClose₹	973.70	121.90	180.70	238.20	856.85	122.00	82.24
IndustryIndustry	PSU Banks	PSU Banks	PSU Banks	PSU Banks	PSU Banks	PSU Banks	PSU Banks
Price To EarningsPE	10.44	6.14	6.27	6.78	8.73	5.43	10.64
Price To SalesPS	1.71	1.04	1.26	0.90	1.61	0.85	2.86
RevenueRevenueCr	5,25,747	1,34,543	1,09,300	1,36,546	71,835	1,30,895	30,953
Revenue Growth TTMRev Gr TTM%	5.5%	3.9%	1.3%	4.9%	11.3%	4.0%	7.0%
PAT Growth TTMPAT Gr TTM%	8.8%	33.5%	18.2%	-8.0%	16.7%	12.7%	-10.4%