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Assembled from the company's filings and exchange data as of today. Download PDF renders this page on the server; the narrative sections arrive with the Nexa composer.
Dossier · STATE BANK OF INDIA · 28 October 2026Page 1 of 3
Company Dossier
MarketPing Research · factual · no rating expressed
STATE BANK OF INDIA
NSE: SBIN · BSE: 500112
Financial Services › Financial Services › Banks › Public Sector Bank

STATE BANK OF INDIA

StateQ1 FY27 filed
Last close · 27 Oct 2026₹945.10
Market cap₹872.4k cr
TTM P/E · P/B · EV/EBITDA10.1 · — · —

Lends and accepts deposits across retail, corporate and treasury segments, earning primarily through net interest income, treasury yields on government securities and digital banking fees. Other Retail Banking is the largest segment at Rs 1,71,862.28 crore (45.2% of segment revenue), covering branch-based retail loans, deposits and services to individuals and small businesses. Corporate/Wholesale Banking contributes Rs 1,07,353.87 crore (28.2% of segment revenue) from large-ticket lending and wholesale services to companies and institutions. Treasury operations bring in Rs 96,466.32 crore (25.4% of segment revenue) from investments in government bonds and trading income. The Digital Banking segment earns Rs 4,160.51 crore (1.1% of segment revenue) but is the most profitable per rupee earned, with the YONO 2.0 platform as the main digital channel and 66% of new savings accounts sourced digitally. Gold loans are a fast-growing retail product, with the portfolio crossing Rs 1 lakh crore at 100% YoY growth and average ticket size of Rs 2.5 lakh. Asset quality is at a two-decade low while domestic net interest margin is 3.03% and capital adequacy ratio stands at 15.4%. FY27 guidance targets credit growth of 13-15% with NIM above 3% and credit cost around 50 basis points. AR · MarketPing reader · 2026-08-02

Revenue streams, as the annual report describes them. Retail Banking operations - Other (45%), Corporate/Wholesale Banking operations (28%), Treasury operations (25%), Retail Banking operations - Digital (1%), Unallocated (0%). Cyclical, asset-heavy public sector bank lending and taking deposits across retail, corporate, treasury and digital channels.

What a broker report prints here — the analyst's thesis. This dossier prints the filed record instead; the narrative read of the latest results, the guidance ledger and the earnings-call summary are the composer's sections (INSTITUTIONAL-PLAN.md M3) and are not yet produced.

Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)

₹ crore · consolidatedFY22FY23FY24FY25FY26
Revenue—————
EBITDA (ex other income)—————
margin %—————
Owners' profit35,37455,64867,08577,56183,299
EPS, as reported (₹)39.6462.3575.1786.9191.16
ROE % · ROCE %— · —— · —— · —— · —— · —
Debt / equity (x)—————
Cash from operations57,695(86,014)21,63248,48638,097
Capex—————
Source: SEBI results XBRL as filed with BSE/NSE; EBITDA excludes other income.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · STATE BANK OF INDIA · 28 October 2026Page 2 of 3

Exhibit 2: Quarterly performance, last 8 quarters

₹ croreQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue————————
Profit before tax27,47425,56626,89729,22928,65730,06726,07632,884
Net profit20,22019,17519,94121,62721,50421,87620,16124,579
EPS (₹)22.1721.1221.9623.7622.8123.0921.2826.12
Source: quarterly results as filed; the balance sheet is filed half-yearly and is not repeated here.

Exhibit 3: Peers — basic industry group, by market cap

CompanyM.cap ₹ crP/EP/BEV/EBITDAROE %ROCE %Rev CAGR 5y %EBITDA m. %
STATE BANK OF INDIA ◆8,72,38410.1——————
UNION BANK OF INDIA1,40,9166.8——————
PUNJAB NATIONAL BANK1,39,3756.3——————
BANK OF BARODA1,21,1216.7——————
INDIAN BANK1,13,1458.8——————
CANARA BANK1,07,0435.4——————
BANK OF MAHARASHTRA61,5328.2——————
BANK OF INDIA60,1145.1——————
Source: exchange data and filed statements via the screener; multiples at current prices.

Exhibit 4: Where the company sits in its group

MetricCompanyGroup medianRankBetter than
P/E (TTM)10.17.511 of 129%
Profit growth13.728.310 of 1218%
Market cap872384842881 of 12100%
Source: MarketPing peer ranks; a rank is a measurement, not a view.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · STATE BANK OF INDIA · 28 October 2026Page 3 of 3

Exhibit 5: Filings of the last 90 days, with the measured price reaction

Date · filingCategoryImportanceNext day %5-day %
26 Oct 2026 · SBI to announce Q2FY27 results on 3 November 2026board shareholder meetingslow——
26 Oct 2026 · SBI board meeting set for Q2 FY27 results on 3 November 2026resultslow——
21 Oct 2026 · SBI discloses data breach affecting 3,897 customers on dark webregulatory legalhigh——
9 Oct 2026 · SBI notifies special window for physical share transfer and dematerializationcomplianceminimal——
8 Oct 2026 · SBI files quarterly dematerialization compliance certificatecomplianceminimal——
27 Sept 2026 · SBI trading window closes Oct 1 ahead of Q2 resultscomplianceminimal——
26 Sept 2026 · SBI holds investor interaction at Citi India Financials Foruminvestor communicationslow——
25 Sept 2026 · SBI revises bond interest payment date to 27 Sep 2026credit debtmedium——
19 Sept 2026 · SBI to interact with institutional investors on September 25, 2026board shareholder meetingslow——
15 Sept 2026 · SBI holds investor meet with 30 funds via Jefferiesinvestor communicationslow——
Source: exchange announcements; each reaction is measured from the close before the filing. Next day = the close one session after the reaction day (the first session that could trade the filing).

How to read this document

Where a broker report showsThis document showsWhy
A rating (BUY / ADD / REDUCE / SELL)A state: the latest filed quarter and the measured reactionsan event is a fact; a rating is an opinion that requires SEBI RA registration
A target price and upsideThe current price and the multiples against the groupa target is a forecast; a multiple is a measurement
Estimate years marked EMore audited years; no estimatesMarketPing publishes no forecasts — your own model lives on the Models page

Sources, method and disclosures

This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.

Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in