Arthneeti

State Bank of India (SBI) Q1 FY27 Share Price & Earnings Call Analysis

₹971.90+1.58% today
Market cap
₹8.97L Cr
P/E
10.68
ROE
15.38%
PEG
0.75
Price to sales
1.70
Debt to equity
11.08
52W high / low
₹1,228 / ₹934
Sales growth (5Y)
13.11%
EBITDA margin
45.02%
Net profit margin
16.83%
Promoter holding
55.45%
Sales (last year)
₹5.26L Cr

State Bank of India is a Fortune 500 company. It is an Indian Multinational, Public Sector banking and financial services statutory body headquartered in Mumbai. It is the largest and oldest bank in India with over 200 years of history.[1]

Guidance scorecard · Q1 FY27 call

What SBI's management guided
and where it ranks in Banks

#15of 28 in
Banks
Revenue10–20%MarginsFlatCapexPlannedFundraisingPlannedOrder bookWhat management said

RevenueQ1 FY27 call

10–20%
  • SBI aims to focus on improving the quality of growth alongside volume growth.
  • The bank expects broad-based credit growth of 14-15% for FY27, anchored to nominal GDP growth of 12-12.5%.
  • SBI historically grows 2-3% above nominal GDP, targeting sustainable credit growth aligned with economic activity.
  • Digital transactions and adoption of platforms like YONO are expected to drive customer acquisition and improve productivity.
  • Fee income has strong growth potential, aiming to increase from 15% to 20% of overall income.
  • Continued investment in technology, analytics, and AI is planned to support evolving customer expectations and operational efficiency.

2 more points from SBI's call on revenue

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Full Q1 FY27 analysis

MarginsQ1 FY27 call

Flat

See what SBI said on margins — free account, 30 seconds.

Full Q1 FY27 analysis

CapexQ1 FY27 call

Planned
  • SBI is gearing up to meet large capital expenditure needs in emerging sectors such as Data Centers, GPU, hydrogen, solar, and connectivity, which require nearly ₹30 lakh crore over the next 4 years.
  • The bank has formed a dedicated Center of Excellence (CHAKRA initiative) to build deep expertise, focusing on emerging industries and related risks/opportunities.
  • SBI is actively assessing and sanctioning loans for these sectors and exploring opportunities in domestic and global M&A.
  • To support large capital expenditure funding needs, SBI recognizes the importance of evolving funding structures involving pension funds, mutual funds, and insurance companies beyond banks alone.

2 more points from SBI's call on capex

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Full Q1 FY27 analysis

FundraisingQ1 FY27 call

Planned

See what SBI said on fundraising — free account, 30 seconds.

Full Q1 FY27 analysis

Order bookQ1 FY27 call

  • Discussions mainly focus on loan growth, fee income, deposit growth, and credit demand across sectors.
  • Corporate loan growth is broad-based with significant traction in retail, MSME, and agriculture segments.
  • Incremental loans worth ₹22,000 crore were generated using AI-driven analytical leads in retail and corporate sectors.
  • SBI anticipates overall credit demand will remain strong, driven by sectors like MSME, agriculture, and emerging tech industries.

2 more points from SBI's call on the order book

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Full Q1 FY27 analysis
Full Banks ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Banks
on management's own guidance

  1. AU Small FinanceGood growth
    2
  2. Canara BankGood growth
    1
  3. IDFC First BankGood growth
    3
See all potential multibaggersWhere does SBI rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Banks companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
1Canara Bank20–40%Flat₹1.07L Cr5.3
2AU Small Finance20–40%Flat₹74,341 Cr26.0
3IDFC First Bank20–40%Flat₹67,332 Cr29.9
420–40%Flat₹58,716 Cr49.8
520–40%Flat₹13,576 Cr9.4
620–40%Flat₹6,759 Cr8.6

Sign up free to see every company in the sector ranking and track SBI.

Pro shows every company guiding 40%+ revenue growth →Full Banks ranking

Financials of SBI

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Financials of SBI

Quarterly Results

Quarter-by-quarter operating performance

Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Revenue +98,083101,460107,391112,868117,469118,242121,045124,654126,840125,729128,040130,386131,080
Interest53,45158,04562,95568,09270,64471,70173,61977,39778,22778,26678,00278,78379,953
Expenses +59,96549,08059,36562,63565,41853,99662,70964,89074,43859,49672,26576,79975,050
Financing Profit-15,334-5,665-14,930-17,858-18,593-7,455-15,283-17,634-25,825-12,034-22,227-25,196-23,923
Financing Margin %-16%-6%-14%-16%-16%-6%-13%-14%-20%-10%-17%-19%-18%
Other Income +38,76930,87336,86533,10347,44533,88342,75843,20052,72241,26350,88455,26249,999
Depreciation0000000000000
Profit before tax23,43625,20821,93615,24528,85226,42827,47425,56626,89729,22928,65730,06726,076
Tax %22%26%25%26%25%26%26%25%26%26%25%27%23%
Net Profit +18,76919,09416,64811,59822,20320,09420,56519,48420,37922,12121,86122,17620,508
EPS in Rs20.2720.7718.0412.4023.9621.6522.1721.1221.9623.7622.9023.0921.28
Gross NPA %2.53%2.13%
Net NPA %0.63%0.52%

Financials of SBI

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Revenue +207,974220,633230,447228,970253,322269,852278,115289,973350,845439,189490,313514,933
Interest133,179143,047149,115146,603155,867161,124156,010156,194189,981259,736300,943315,005
Expenses +96,675109,985145,666169,065166,104172,909192,821197,349204,303239,750252,043282,601
Financing Profit-21,879-32,399-64,334-86,697-68,649-64,181-70,715-63,570-43,439-60,297-62,674-82,673
Financing Margin %-11%-15%-28%-38%-27%-24%-25%-22%-12%-14%-13%-16%
Other Income +49,31552,82868,19377,55777,36598,159107,222117,000122,534155,386173,031201,531
Depreciation1,5812,2522,9153,1053,4963,6623,7113,6913,6963,8493,9914,830
Profit before tax25,85518,177945-12,2455,22030,31732,79649,73975,39991,240106,365114,028
Tax %32%30%141%-66%41%40%26%27%25%25%26%25%
Net Profit +17,83213,019-97-3,7493,35121,14023,88837,18357,75069,54380,52386,666
EPS in Rs22.7615.750.30-5.112.5822.1525.1139.6462.3575.1786.9190.24
Dividend Payout %15%17%859%0%0%0%16%18%18%18%18%19%

Financials of SBI

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital747776797892892892892892892892892923
Reserves160,641179,816216,395229,429233,603250,168274,669304,696358,039414,047486,144595,208
Deposits2,052,9612,253,8582,599,8112,722,1782,940,5413,274,1613,715,3314,087,4114,468,5364,966,5375,439,8986,043,097
Borrowing244,663361,399336,366369,079413,748332,901433,796449,160521,152639,610610,857777,302
Other Liabilities +240,149276,472288,391294,860299,676339,364420,926518,719605,796712,669775,938904,646
Total Liabilities2,699,1613,072,3213,441,7603,616,4393,888,4604,197,4864,845,6155,360,8785,954,4156,733,7567,313,7308,321,176
Fixed Assets +12,92415,41551,18942,03539,94139,60841,60041,03245,88046,07247,71659,772
CWIP4007866959257624701162866424178
Investments673,507807,3751,027,2811,183,7941,119,2701,228,2841,595,1001,776,4901,913,1082,110,5482,205,6012,359,502
Other Assets +2,012,3292,248,7462,362,5942,389,6852,728,4872,929,1233,208,7983,543,3283,995,3614,577,0935,060,3715,901,824
Total Assets2,699,1613,072,3213,441,7603,616,4393,888,4604,197,4864,845,6155,360,8785,954,4156,733,7567,313,7308,321,176

Financials of SBI

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +26,29714,47777,406-96,50829,55623,92989,91957,695-86,01421,63248,48638,097
Cash from Investing Activity +-3,424-2,747-4,57213,053220-555-3,670-2,652-966-3,476-3,387-691
Cash from Financing Activity +-1,5534,348-4,1965,5474485,4307,143-3,8456,386-9,896-13,739-3,427
Net Cash Flow21,32016,07868,638-77,90830,22328,80393,39251,198-80,5938,26031,36133,979
Free Cash Flow22,84810,70172,982-89,90626,55020,86486,09154,644-86,01417,45742,84929,734
CFO/OP30%22%93%-148%43%40%110%72%-47%27%35%32%

Financials of SBI

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROE %11%7%0%-2%1%7%9%12%17%17%17%15%

Guidance history

How SBI's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q1 FY27 call →10–20%FlatPlannedPlanned—
Q4 FY26 call →10–20%FlatPlannedPlanned—
Q3 FY26 call →10–20%FlatPlanned—Rising
Q2 FY26 call →10–20%FlatPlannedNone planned—

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

25out of 100

Momentum score · price trend

25 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months+2.9%63%
Last 6 months−12.0%35%
Last 3 months−5.6%54%

The price is 22.1% below its all-time high of ₹1,227.8 (23 Feb 2026). Stocks more than 20% below their peak have their score halved, so 50 became 25.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For SBI: 0.4 × 63 + 0.4 × 35 + 0.2 × 54 = 50, halved to 25 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 28 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Continue your research

What SBI's management said in earlier quarters

Others in Banks this season

  • Suryoday Small Finance Bank Ltd (Q2 FY27)

    Gross Advances: ₹14,972 Cr, +34.6% YoY . Key investor presentation takeaways from Suryoday Small Finance Bank Ltd's Q2 FY27 investor presentation — and how it r

  • Fino Payments Bank Ltd (Q2 FY27)

    Q2’27 Revenue: ₹333.6 Cr, up 16.6% YoY (Page 15) . Key investor presentation takeaways from Fino Payments Bank Ltd's Q2 FY27 investor presentation — and how it

  • Capital Small Finance Bank Ltd (Q2 FY27)

    Net Interest Income: INR 139 Crores (24% YoY increase from INR 112 Crores in Q2FY26) . Key investor presentation takeaways from Capital Small Finance Bank Ltd's

  • Equitas Small Finance Bank Ltd (Q2 FY27)

    Net Income for Q2FY27: ₹1,313 Cr, up 32% YoY (Page 34) . Key investor presentation takeaways from Equitas Small Finance Bank Ltd's Q2 FY27 investor presentation

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