State Bank of India (SBI) Q4FY25 Result Analysis

State Bank of India (SBI), a Fortune 500 company, is a leading Indian multinational public sector banking and financial services institution headquartered in Mumbai. With a legacy spanning over 200 years, SBI is the most trusted bank in India, serving over 500 million customers. The bank boasts an asset base of over ₹61 trillion and operates through a vast network of 22,500 branches, 63,580 ATMs, and 82,900 BC outlets. SBI’s diversified portfolio includes subsidiaries such as SBI General Insurance, SBI Life Insurance, SBI Mutual Fund, and SBI Card. With a global presence across 241 offices in 29 countries, SBI continues to innovate and deliver sustainable, customer-centric banking solutions, upholding its core values of service, transparency, ethics, and sustainability.

Result Analysis:  State Bank of India (SBI)  (CMP: Rs. 800)

Result Update: Q4FY25

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Financial Performance:

Shareholding Pattern:

Particulars (In %)	Q4FY25	Q4FY24
Promoters Group	56.92	56.62
FIIs	11.06	11.28
DIIs	24.84	23.70
Public and Other	7.17	8.07
Government	0.02	0.03

Management Commentary:

• State Bank of India plans to raise up to Rs 25,000 crore in equity capital during the financial year 2025-26.
• The bank has announced 15.90 per share dividend.
• The earnings demonstrate the ability to deliver strong results at scale, the bank saw some one-off provision write-backs last year. That was not available this year, which is why profit is down from Q4FY24.” Setty believes that going ahead, there will be some impact on margins due to repo rate cuts by the Reserve Bank of India. “”The outlook is dependent on the rate cycle,
• The bank expect a 50 bps rate cut this year. This will cause pressure on margins.

Outlook:

SBI enters FY26 with a strong foundation, backed by steady growth in interest income and improvement in asset quality. Despite a YoY dip in PAT due to absence of one-off gains, core operational metrics remain resilient. The bank plans to raise up to ₹25,000 crore in equity capital to support future growth. However, with anticipated repo rate cuts by the RBI (expected 50 bps), SBI foresees margin compression ahead. While NIM may face pressure, continued improvement in NPAs and expanding credit growth should help maintain profitability and support long-term stability. The Bank reported an EPS of ₹79.44 in FY25, and the stock is currently trading at a P/E of 10.07x and P/B of 1.75x.

Standalone Results:

Source: Company website, EWL Research

 

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