In Week of Mar 28, 2026, State Bank of India (Banks - PSU) is outperforming Nifty 500 with +17.1% relative strength. Fundamentals: Strong. On a 12-week streak.
Weekly presence in the outperformers list. Green = beating Nifty 500 by 10%+ that week.
Based on Q3 FY26 earnings • Updated Feb 22, 2026
What: Focus on retail deposits over wholesale deposits improving funding costs
Impact: +₹500 Cr revenue
“We focus more on the retail deposits. We have not moved to the wholesale deposits.”
What: Lower provisioning requirements boosting net profit
Impact: +₹300 Cr revenue
“The modest credit costs also contribute to the uptick in the profitability”
What: Upward revision of credit growth guidance from 12-14% to 13-15%
Impact: +₹800 Cr revenue
“We had given 12 to 14% credit guidance earlier. We are revising that upwards to 13 to 15% for the current quarter.”
Earnings deceleration risks from management commentary
Trigger: If corporate loan growth exceeds 18%
Impact: -10 bps margin impact
Management view: We are very sensitive to that the value creation from our corporate relationship
Monitor: Corporate loan growth rate
Trigger: If rate cuts accelerate
Impact: -15 bps margin impact
Management view: Transmission did not happen on the deposit side. Well it had happened on the asset side.
Monitor: Deposit repricing speed
Key quotes from recent conference calls
“The domestic stands at 3.12% for the quarter. — Pawan Kumar”
“The modest credit costs also contribute to the uptick in the profitability — Pawan Kumar”
“We had given 12 to 14% credit guidance earlier. We are revising that upwards to 13 to 15% for the current quarter. — Pawan Kumar”
“We try to reduce the cost of overheads. Uh and that also has been one of the reasons why you see the good profitability. — Pawan Kumar”
Forward-looking targets from management for FY26
Implied PAT Growth
13%
Credit Growth Target
14%
NIM Guidance
3.15%
Key Milestones
• 13-15% credit growth
• NIM above 3.1%
Revenue, profit and margin growth rates
| Metric | YoY | 3Y CAGR | Trend |
|---|---|---|---|
| Revenue | +5% | +19% | Decelerating |
| PAT (Net Profit) | +14% | +29% | Inflection Up |
The above analysis is parsed from publicly available earnings call transcripts. This is educational research only — not investment advice. Last updated Feb 22, 2026.
Based on publicly available financial data. This is educational research, not investment advice.
State Bank of India's latest quarterly results (Dec 2025) show
State Bank of India's profit is growing with an turning around (inflection up) trend.
State Bank of India's revenue growth trend is decelerating.
State Bank of India's asset quality trend is improving.
State Bank of India's long-term compounding rates
State Bank of India's earnings growth is turning around (inflection up) with mixed signals on a sequential basis.
State Bank of India's trailing twelve month (TTM) performance
State Bank of India appears significantly undervalued based on our fair value analysis.
State Bank of India's current PE ratio is 11.6x.
State Bank of India's current PE is 11.6x.
State Bank of India's price-to-book ratio is 1.6x.
State Bank of India is rated Strong with a fundamental score of 67.08/100. This score is calculated from objective financial metrics
State Bank of India has a debt-to-equity ratio of N/A.
State Bank of India's return ratios over recent years
State Bank of India's operating cash flow is positive (FY2025).
State Bank of India's current dividend yield is 1.56%.
State Bank of India's shareholding pattern (Dec 2025)
State Bank of India's promoter holding has remained stable recently.
State Bank of India has been outperforming Nifty 500 for 12 consecutive weeks, indicating strong sustained outperformance.
State Bank of India is an established outperformer with 12 weeks of consecutive Nifty 500 outperformance.
State Bank of India has 3 key growth catalysts identified from recent earnings analysis
State Bank of India has 2 key risks worth monitoring
In Q3 FY26, State Bank of India's management highlighted
State Bank of India's management has provided the following forward guidance for FY26
Based on quantitative research signals, here is why State Bank of India may be worth studying
State Bank of India investment thesis summary:
State Bank of India's forward outlook based on current data signals
The above FAQs are generated from publicly available earnings data and conference call transcripts. This is educational research only. Sector Alpha is not SEBI registered and does not provide investment advice.
