State Bank of India financials: balance sheet, profit and loss, cash flow
NSE: SBINBSE: 500112BanksLarge Cap
Face value ₹1 Face value. The nominal value of one share as the company issued it, the unit its share capital is counted in and a dividend can be stated as a percentage of; it has no link to the share price. Face value in the glossary · Listed Feb 1959 on BSE, Mar 1995 on NSE
Last close ₹971.90up ₹15.10 (1.58%)BSE ₹980.00
Share price at the NSE close on 29 Oct 2026. Previous close ₹956.80.
29 Oct: open ₹956.80, high ₹971.90, low ₹954.60
52-week range of traded prices to 29 Oct 2026
₹930.25Low, 29 Oct 2025₹1,234.70High, 24 Feb 2026
- Next results date: the board meets on 3 Nov 2026 to consider: financial results. The notice · Results calendar
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies. Market capitalisation: how it is worked out
- ₹8,97,138 Cr4th largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. Price to earnings, trailing: how it is worked out
- 10.41
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. Price to book: how it is worked out
- 1.46
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- 1.79%
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business. Net worth is the average of the latest balance sheet and the one a year before it.
- 15.4%
- NIMNet interest margin. Net interest income ÷ the average assets that earn interest × 100 × 12 ÷ the months in the period, a rate per year; given only where the balance sheets at the start and at the end of the period are both held; not given for an insurer. For the year to Mar 2026. For the whole group.
- 2.84%
- Gross NPAGross NPA, non-performing loans. Gross non-performing loans as a percentage of all loans, as the bank states it, in per cent on the one scale its filing writes all its ratios in; not given where that scale cannot be told, where the figure is outside what it can be, where the filing's own amounts show it written on another scale or rounded to the whole per cent, where it is 0 for a bank that lends, or where it is below the net share. At the end of Jun 2026. For the company alone, not its group: the regulator measures it company by company.
- 1.47%
- Net NPANet NPA, non-performing loans. Net non-performing loans as a percentage of loans, as the bank states it, in per cent on the one scale its filing writes all its ratios in; not given where that scale cannot be told, where the figure is outside what it can be, where the filing's own amounts show it written on another scale or rounded to the whole per cent, where it is 0 for a bank that lends, or where it is above the gross share. At the end of Jun 2026. For the company alone, not its group: the regulator measures it company by company.
- 0.38%
- CET1Common equity tier 1 ratio. The bank's core capital, mostly shareholders' money, as a percentage of its loans and other assets weighted by risk, as the bank states it, in per cent on the one scale its filing writes all its ratios in; not given where that scale cannot be told, or where the figure is outside what it can be. At the end of Jun 2026. For the company alone, not its group: the regulator measures it company by company. Common equity tier 1 ratio in the glossary
- 12.89%
- ROAReturn on assets. Profit after tax ÷ average total assets × 100 × 12 ÷ the months in the period, a rate per year; given only where the balance sheets at the start and at the end of the period are both held; not given for an insurer. It equals net interest income + other income − operating expenses − provisions + exceptional items − tax + the lines below tax, each on the same base. For the year to Mar 2026. For the whole group.
- 1.11%
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day. Volume in the glossary
- 78,52,34548.9% delivered
State Bank of India's financial statements for the 10 years to Mar 2026, as a lender reports them, consolidated: the company and its subsidiaries together, with the twelve months to Jun 2026 after them.
10 years at a glance
Consolidated, laid out as a bank files them.State Bank of India annual reports
Net interest income, Net profit, ₹ crore
- Net interest income
- Net profit
- Loss
Net interest margin, Return on assets, Gross bad loans, per cent
- Net interest marginNet interest margin. Net interest income ÷ the average assets that earn interest × 100 × 12 ÷ the months in the period, a rate per year; given only where the balance sheets at the start and at the end of the period are both held; not given for an insurer. Net interest margin in the glossary
- Return on assetsReturn on assets. Profit after tax ÷ average total assets × 100 × 12 ÷ the months in the period, a rate per year; given only where the balance sheets at the start and at the end of the period are both held; not given for an insurer. It equals net interest income + other income − operating expenses − provisions + exceptional items − tax + the lines below tax, each on the same base. Return on assets in the glossary
- Gross bad loansGross non-performing loans. Loans whose borrowers have stopped paying, generally for 90 days, as a percentage of all loans, as the bank files it, or worked out from its filed amounts where the filed percentage cannot be read on its filing's scale. Gross non-performing loans in the glossary
State Bank of India business segments, year to Mar 2026
A reportable segment is a line of business the company must report on its own. Consolidated, ₹ crore, as the company reports them.State Bank of India segment results by quarter
Revenue by segment
₹7,17,400 CrTotal
- Retail Banking oprations- Other Retail Banking₹2,61,603 Cr36.5% of total
- Corporate/ Wholesale Banking operations₹1,53,355 Cr21.4% of total
- Insurance Business₹1,33,260 Cr18.6% of total
- Treasury operations₹1,30,119 Cr18.1% of total
- Other Banking operations₹34,822 Cr4.9% of total
- Retail Banking oprations- Digital Banking₹4,241 Cr0.6% of total
Profit by segment
- Retail Banking oprations- Other Retail Banking₹41,512 Cr34.4% of total
- Corporate/ Wholesale Banking operations₹33,078 Cr27.4% of total
- Insurance Business₹3,392 Cr2.8% of total
- Treasury operations₹14,415 Cr11.9% of total
- Other Banking operations₹10,027 Cr8.3% of total
- Retail Banking oprations- Digital Banking₹18,341 Cr15.2% of total
Segment results by year
Consolidated from the year to Mar 2021, standalone before, ₹ crore, years to March.
Retail Banking oprations- Other Retail Banking
Revenue, ₹ croreProfit, ₹ croreCorporate/ Wholesale Banking operations
Revenue, ₹ croreProfit, ₹ croreInsurance Business
Revenue, ₹ croreProfit, ₹ croreTreasury operations
Revenue, ₹ croreProfit, ₹ croreOther Banking operations
Revenue, ₹ croreProfit, ₹ croreRetail Banking oprations- Digital Banking
Revenue, ₹ croreProfit, ₹ crore
| ₹ crore | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue of all businesses | 2,77,219 | 2,21,155 | 3,85,417 | 4,07,534 | 4,77,083 | 5,99,883 | 6,70,553 | 7,17,400 |
| Company revenue, as in its resultsCompany revenue. The company's revenue from operations for the period in its results, on the same accounts as its segments. It is below the businesses' sum where they sell to one another, or where the segments include a business the results report as discontinued. | 2,78,083 | 2,96,329 | 3,83,971 | 4,06,973 | 4,73,378 | 5,94,575 | 6,63,343 | 7,09,617 |
| Revenue | – | – | – | – | – | 2,04,492 | 2,33,943 | 2,61,603 |
| Revenue growthSegment revenue growth, year on year. The change in the segment's revenue from the same period a year before, as a percentage of that earlier revenue: a year against the year before, a quarter against the same quarter. Segment revenue growth, year on year in the glossary | – | – | – | – | – | – | 14.4% | 11.8% |
| ProfitSegment profit. What the business earned before tax and finance costs, as the company measures each of its businesses. Segment profit in the glossary | – | – | – | – | – | 32,143 | 43,798 | 41,512 |
| Profit growthSegment profit growth, year on year. The change in the segment's profit from the same period a year before, as a percentage of that earlier profit, left empty where either is a loss, since growth from or into a loss is not a percentage. Segment profit growth, year on year in the glossary | – | – | – | – | – | – | 36.3% | −5.2% |
| MarginSegment margin. Segment profit as a percentage of the segment's revenue. Segment margin in the glossary | – | – | – | – | – | 15.7% | 18.7% | 15.9% |
| AssetsSegment assets. What the company holds for this business at the period end: plant, stock, receivables and the like. Segment assets in the glossary | – | – | – | – | – | 25,38,955 | 27,96,968 | 32,20,589 |
| LiabilitiesSegment liabilities. What this business owes at the period end, such as payments due to suppliers. Segment liabilities in the glossary | – | – | – | – | – | 16,90,063 | 17,79,917 | 19,08,797 |
| Revenue | 78,600 | 90,248 | 83,073 | 75,675 | 1,00,160 | 1,32,846 | 1,49,000 | 1,53,355 |
| Revenue | 0 | 0 | 64,569 | 76,587 | 86,452 | 1,05,459 | 1,14,143 | 1,33,260 |
| Revenue | 77,651 | – | 91,033 | 99,650 | 1,01,805 | 1,24,225 | 1,34,628 | 1,30,119 |
| Revenue | 0 | 0 | 14,647 | 16,726 | 21,145 | 27,616 | 31,109 | 34,822 |
| Revenue | – | – | – | – | – | 5,245 | 7,731 | 4,241 |
| Revenue | – | – | – | – | 1,63,755 | – | – | – |
| Revenue | – | – | – | – | 3,767 | – | – | – |
| Revenue | 1,20,968 | 1,30,907 | 1,32,095 | 1,38,896 | – | – | – | – |
| 0 | 0 | – | 0 | – | – | – | – | |
| Revenue | 0 | 120 | 1,651 | 3,156 | 1,861 | 2,262 | 1,815 | 2,470 |
| – | – | – | 0 | – | 0 | – | 0 | |
| – | – | – | 0 | – | – | – | – | |
| – | – | – | 0 | – | – | – | – | |
| Revenue | – | 75,055 | – | – | – | – | – | – |
Profit is before tax and finance costs, the way companies report their segments.
Income
₹ crore, years to March. Employee costs and other operating expenses are left blank for the year to Mar 2020: the lines stated do not add to the total the filing states, so the split is not given. Tax is left blank for the year to Mar 2021: profit before tax less the tax charge stated does not come to the profit after tax the same statement states, so the tax charge is not shown. Net profit is left blank for the year to Mar 2021: the profit filed is the one belonging to the company's shareholders, and the other owners' share is filed as 0 while the company's periods around it state one, so the group's profit is not stated. Belonging to outside owners of subsidiaries is left blank for the year to Mar 2021: the filing states 0 for the other owners' share, which this form also writes for a line it does not fill, while the company's periods around it state one. Share of profit of associates is left blank for the year to Mar 2021: the filing states 0 for the associates' share, which this form also writes for a line it does not fill, while the periods either side state one.
| ₹ crore | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Total incomeTotal income. Everything earned in the period, the total the statement states: for a bank, its interest earned and other income, with any other income line its statement totals; for a finance company, revenue from operations + other income; for a general insurer, premium earned + income from the policyholders' investments + other income; for a life insurer, premiums + the income and gains on the policyholders' investments. Total income in the glossary | 2,98,640 | 3,01,491 | 3,30,221 | 3,62,229 | 3,83,971 | 4,06,973 | 4,73,378 | 5,94,575 | 6,63,343 | 7,09,617 |
| 2,30,447 | 2,28,970 | 2,53,322 | 2,69,852 | 2,78,115 | 2,89,973 | 3,50,845 | 4,39,189 | 4,90,938 | 5,14,933 | |
| On loansInterest on loans. Interest and discount earned on the bank's loans and bills for the period; given only where the four interest lines add to the interest earned stated. Interest on loans in the glossary | 1,56,790 | 1,44,959 | 1,66,125 | 1,85,494 | 1,76,780 | 1,77,475 | 2,28,741 | 2,97,310 | 3,40,977 | 3,61,064 |
| On investmentsInterest on investments. Income from the bonds and other securities the bank holds, for the period; given only where the four interest lines add to the interest earned stated. Interest on investments in the glossary | 64,201 | 75,037 | 80,244 | 74,813 | 87,131 | 93,478 | 1,06,825 | 1,22,378 | 1,31,144 | 1,31,954 |
| On balances with the RBI and other banksInterest on balances with the RBI and other banks. Interest earned on money placed with the Reserve Bank and with other banks, for the period; given only where the four interest lines add to the interest earned stated. Interest on balances with the RBI and other banks in the glossary | 2,592 | 2,411 | 1,325 | 3,066 | 4,541 | 4,608 | 3,916 | 5,942 | 6,238 | 7,999 |
| Other interestOther interest. Interest earned besides on loans, investments and balances with banks, for the period; given only where the four interest lines add to the interest earned stated. Other interest in the glossary | 6,864 | 6,564 | 5,629 | 6,478 | 9,663 | 14,412 | 11,363 | 13,558 | 12,580 | 13,915 |
| Interest paid | 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 |
| Net interest incomeNet interest income. Interest earned − interest paid; for a finance company, interest earned − finance costs. Net interest income in the glossary | 81,333 | 82,367 | 97,455 | 1,08,728 | 1,22,105 | 1,33,778 | 1,60,864 | 1,79,452 | 1,89,994 | 1,99,928 |
| Other incomeOther income. Income besides interest, for the period: for a bank, its other income as stated, such as fees, commissions and gains on investments; for a finance company, total income − interest earned, or where total income is not stated, fees and commission + gains on fair value changes + other income. Other income in the glossary | 68,193 | 72,521 | 76,899 | 92,377 | 1,05,855 | 1,17,000 | 1,22,534 | 1,55,386 | 1,72,406 | 1,94,684 |
| 87,290 | 96,154 | 1,14,800 | 1,31,782 | 1,50,430 | 1,66,945 | 1,89,814 | 2,28,794 | 2,36,574 | 2,62,650 | |
| Profit before provisionsProfit before provisions. Profit before anything is set aside for loans that may not be repaid: for a bank, total income − its expenses other than provisions, as stated, which are interest paid and operating expenses; for a finance company, total income − finance costs − operating expenses. Profit before provisions in the glossary | 62,236 | 58,734 | 59,553 | 69,324 | 77,531 | 83,834 | 93,583 | 1,06,045 | 1,25,826 | 1,31,962 |
| Set aside for bad loansProvisions for bad loans. What was set aside in the period for loans that may not be repaid: for a bank, its provisions other than for tax, which also cover its investments and loans still being repaid; for a finance company, the impairment of its loans and other financial assets. Provisions for bad loans in the glossary | 61,291 | 76,015 | 54,799 | 44,789 | 46,102 | 26,677 | 18,184 | 7,705 | 19,461 | 20,960 |
| Exceptional itemsExceptional items. One-off gains or losses the company states separately, for the period; on a bank's group accounts, not given where the line is the outside owners' share of its subsidiaries' profit. Exceptional items in the glossary | 0 | 5,036 | 466 | 5,782 | 1,367 | −7,418 | 0 | −7,100 | 0 | 3,027 |
| Profit before tax | 945 | −12,245 | 5,220 | 30,317 | 32,796 | 49,739 | 75,399 | 91,240 | 1,06,365 | 1,14,028 |
| Tax | 1,336 | −8,058 | 2,151 | 12,140 | – | 13,382 | 18,840 | 23,102 | 27,348 | 28,860 |
| Share of profit of associatesShare of profit of joint ventures and associates. The group's share of the profit of companies it part-owns, its joint ventures and associates, as stated; it is part of the profit that belongs to the shareholders and is not in revenue, operating profit or borrowings. Not given where the filing states 0 for it while the company's other filings for the same year show it was not 0. Share of profit of joint ventures and associates in the glossary | – | – | – | – | – | 827 | 1,191 | 1,405 | 1,505 | 1,497 |
| The lines under it are parts of it, not all of it. | 241 | −4,556 | 2,300 | 19,768 | – | 37,183 | 57,750 | 69,543 | 80,523 | 86,666 |
| Earnings per shareEarnings per share. The earnings per share stated for the period ÷ the split factor, so a figure from before a split sits on the same share as today's; a figure the company filed after a split or bonus is already on the new share count and is divided by the splits after its filing day only. Earnings per share in the glossary | – | – | – | ₹22.15 | ₹25.11 | ₹39.64 | ₹62.35 | ₹75.17 | ₹86.91 | ₹91.16 |
| Diluted earnings per shareDiluted earnings per share. That diluted earnings per share on today's share count, restated by the same splits and bonuses as the basic figure. Diluted earnings per share in the glossary | – | – | – | ₹22.15 | ₹25.11 | ₹39.64 | ₹62.35 | ₹75.17 | ₹86.91 | ₹91.16 |
Balance sheet
₹ crore, at 31 March.
| ₹ crore | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Total assetsTotal assets. Everything the company owns, at the period end; for an insurer, whose balance sheet shows its assets net of what it owes in the short term, that net figure + its current liabilities and provisions − any debit balance in its profit and loss account and expenditure not yet written off, and not given where only the net figure is stated. Total assets in the glossary | 53,60,884 | 59,54,418 | 67,33,779 | 73,14,185 | 83,21,569 |
| Cash and balances with the RBICash and balances with the RBI. Cash in hand and the money the bank keeps with the Reserve Bank, at the period end; given only where cash, balances with banks, loans, investments, fixed assets and other assets add to the total assets stated. Cash and balances with the RBI in the glossary | 2,58,086 | 2,47,321 | 2,25,356 | 2,27,485 | 2,68,682 |
| With banks and at callBalances with banks and money at call. Money placed with other banks and lent for very short periods, at the period end; given only where cash, balances with banks, loans, investments, fixed assets and other assets add to the total assets stated. Balances with banks and money at call in the glossary | 1,40,819 | 70,991 | 1,01,216 | 1,30,448 | 1,33,161 |
| Loans given | 27,94,076 | 32,67,902 | 37,84,273 | 42,50,831 | 49,78,013 |
| Investments | 17,76,490 | 19,13,108 | 21,10,548 | 22,05,601 | 23,59,502 |
| Fixed assetsFixed assets. Buildings, equipment and other assets the company uses, at cost less depreciation, at the period end; for a bank, given only where cash, balances with banks, loans, investments, fixed assets and other assets add to the total assets stated. Fixed assets in the glossary | 39,510 | 44,407 | 44,708 | 46,338 | 57,152 |
| Other assetsOther assets. A bank's assets besides cash, balances with banks, loans, investments and fixed assets, such as interest accrued and advance tax, at the period end; given only where cash, balances with banks, loans, investments, fixed assets and other assets add to the total assets stated. Other assets in the glossary | 3,51,902 | 4,10,689 | 4,67,677 | 4,53,483 | 5,25,058 |
| DepositsDeposits. Money customers have placed with the company on deposit, at the period end. Deposits in the glossary | 40,87,411 | 44,68,536 | 49,66,537 | 54,39,898 | 60,43,097 |
| BorrowingsBorrowings. Money borrowed, at the period end, deposits left out: for a bank and an insurer, its borrowings as stated; for a finance company, bonds and debentures + loans taken + subordinated debt. Borrowings in the glossary | 4,49,160 | 5,21,152 | 6,39,610 | 6,10,857 | 7,77,302 |
| Other liabilities and provisionsOther liabilities and provisions. What the bank owes besides deposits and borrowings, such as interest accrued, bills payable and provisions, at the period end; given only where net worth, deposits, borrowings and it add to the balance sheet total stated. Other liabilities and provisions in the glossary | 5,18,725 | 5,92,963 | 6,97,075 | 7,58,367 | 8,86,270 |
| Net worth. Net worth at the period end, the whole group's on group accounts: for a bank, share capital + reserves and surplus; for a finance company, total equity as stated; for a general insurer, share capital + reserves; for a life insurer, shareholders' funds as stated, or share capital + reserves + the fair value change account where they are not. An insurer's is less any debit balance in its profit and loss account and expenditure not yet written off. Not given where the balance sheet states the share capital, the reserves or the net worth as 0. Net worth in the glossary | 3,05,588 | 3,71,768 | 4,30,557 | 5,05,063 | 6,14,899 |
| Share capitalShare capital. The face value of every share issued, at the period end; not given where the balance sheet states it, the reserves or the net worth as 0. Share capital in the glossary | 892 | 892 | 892 | 892 | 923 |
| ReservesReserves. Profits kept in the business and other reserves, at the period end; for an insurer, less any debit balance in its profit and loss account and expenditure not yet written off. Not given where the balance sheet states them, the share capital or the net worth as 0, nor, for a life insurer, where share capital, the reserves, the fair value change account and share application money do not add to the net worth its balance sheet states. Reserves in the glossary | 3,04,696 | 3,70,875 | 4,29,665 | 5,04,170 | 6,13,976 |
Bad loans and capital
Per cent, and the bad loans themselves in ₹ crore. A non-performing loan is one the borrower has stopped paying, generally for 90 days.
| Figure | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Gross bad loans, ₹ croreGross non-performing loans, ₹ crore. Non-performing loans, those whose borrowers have stopped paying, generally for 90 days, at the amount still owed at the period end, as the bank states it. A 0 is given only for a bank whose loans are at most 1% of its assets, and the figure is not given where it is below the net figure or the bank's own gross share of loans shows a digit slipped. Gross non-performing loans, ₹ crore in the glossary | – | 1,12,023 | – | – | – | – |
| Net bad loans, ₹ croreNet non-performing loans, ₹ crore. Non-performing loans less what the bank has set aside against them, at the period end, as the bank states it; not given where it is above the gross figure, or 0 beside a gross figure that is not. Net non-performing loans, ₹ crore in the glossary | – | 27,966 | – | – | – | – |
| Gross bad loans, % of loans | – | 3.97% | – | – | – | – |
| Net bad loans, % of loansNet non-performing loans. Non-performing loans left after what has been set aside against them, as a percentage of loans, as the bank files it, or worked out from its filed amounts where the filed percentage cannot be read on its filing's scale. Net non-performing loans in the glossary | – | 1.02% | – | – | – | – |
| Bad loans already provided forProvision coverage. (gross non-performing loans − net non-performing loans) ÷ gross non-performing loans × 100: the share of non-performing loans already covered by money set aside. Provision coverage in the glossary | – | 75.04% | – | – | – | – |
| Core equity to risk-weighted loansCommon equity tier 1 ratio. The bank's core capital, mostly shareholders' money, as a percentage of its loans and other assets weighted by risk, as the bank states it, in per cent on the one scale its filing writes all its ratios in; not given where that scale cannot be told, or where the figure is outside what it can be. | 10.02% | 9.94% | – | – | – | – |
| Tier 1 capitalTier 1 capital ratio. Core capital ratio + additional tier 1 ratio; given only where the additional tier 1 ratio is above 0. Tier 1 capital ratio in the glossary | 11.44% | 11.42% | – | – | – | – |
| Additional tier 1 capitalAdditional tier 1 capital ratio. The bank's permanent capital beyond its core capital, mostly perpetual bonds that can be written down, as a percentage of its assets weighted by risk, as the bank states it, in per cent on the one scale its filing writes all its ratios in; not given where that scale cannot be told, where the figure is outside what it can be, where it is 0, since the statement also writes 0 for a bank that does not state it, or where it is at or above the core capital ratio. Additional tier 1 capital ratio in the glossary | 1.42% | 1.48% | – | – | – | – |
| Held by the governmentGovernment holding. The share of the company the government holds, as the company states it, in per cent on the one scale its filing writes all its ratios in; not given where that scale cannot be told, where the figure is outside what it can be, or where it is 0 and the shareholding pattern for the same date does not confirm the government holds none. Government holding in the glossary | 56.92% | 56.92% | – | – | – | – |
Margins and returns
Per cent a year, on the average of the opening and closing balance sheets.
| Figure | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net interest margin | – | – | – | – | – | – | 3.23% | 3.19% | 3.02% | 2.84% |
| Yield on interest-earning assetsYield on interest-earning assets. Interest earned ÷ the average assets that earn interest × 100 × 12 ÷ the months in the period, a rate per year; given only where the balance sheets at the start and at the end of the period are both held; not given for an insurer. Yield on interest-earning assets in the glossary | – | – | – | – | – | – | 7.04% | 7.81% | 7.80% | 7.33% |
| Cost of fundsCost of funds. Interest paid ÷ the average of what the company pays interest on × 100 × 12 ÷ the months in the period, a rate per year; given only where the balance sheets at the start and at the end of the period are both held; not given for an insurer. Cost of funds in the glossary | – | – | – | – | – | – | 3.99% | 4.90% | 5.16% | 4.89% |
| SpreadSpread. Yield on the assets that earn interest − cost of funds; not given for an insurer. Spread in the glossary | – | – | – | – | – | – | 3.05% | 2.91% | 2.64% | 2.43% |
| Cost to incomeCost to income. Operating expenses ÷ (net interest income + other income) × 100. Cost to income in the glossary | 58.38% | 62.08% | 65.84% | 65.53% | 65.99% | 66.57% | 66.98% | 68.33% | 65.28% | 66.56% |
| Credit costCredit cost. What was set aside for loans that may not be repaid ÷ average loans given × 100 × 12 ÷ the months in the period, a rate per year; given only where the balance sheets at the start and at the end of the period are both held; not given for an insurer. Credit cost in the glossary | – | – | – | – | – | – | 0.60% | 0.22% | 0.48% | 0.45% |
| Loans to depositsLoans to deposits. Loans ÷ deposits × 100, at the period end. Loans to deposits in the glossary | – | – | – | – | – | 68.36% | 73.13% | 76.20% | 78.14% | 82.38% |
| Return on assets | – | – | – | – | – | – | 1.02% | 1.10% | 1.15% | 1.11% |
| Assets per rupee of net worthAssets per rupee of net worth. Average total assets ÷ average net worth: rupees of assets for each rupee of net worth; given only where the balance sheets at the start and at the end of the period are both held; not given for an insurer. Assets per rupee of net worth in the glossary | – | – | – | – | – | – | 16.71 | 15.81 | 15.01 | 13.96 |
| Return on equityReturn on equity. Return on assets × average total assets ÷ average net worth: profit after tax as a percentage of average net worth, a rate per year; not given for an insurer. | – | – | – | – | – | – | 17.05% | 17.34% | 17.21% | 15.48% |
Where the return on assets comes from
Per cent of average total assets, a year. Each line adds to the one below it. The year to Mar 2022, the first with a balance sheet on this form, has none a year before it to average with, so its ratios are blank. Tax and associates and businesses sold or closed are left blank for the year to Mar 2021: profit before tax less the tax charge stated does not come to the profit after tax the same statement states, so the tax charge is not shown.
| Per cent | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Net interest income | 2.84% | 2.83% | 2.70% | 2.56% |
| Other income | 2.17% | 2.45% | 2.45% | 2.49% |
| Operating expenses | 3.36% | 3.61% | 3.37% | 3.36% |
| Profit before provisions | 1.65% | 1.67% | 1.79% | 1.69% |
| Set aside for bad loans | 0.32% | 0.12% | 0.28% | 0.27% |
| Exceptional items | 0.00% | −0.11% | 0.00% | 0.04% |
| Profit before tax | 1.33% | 1.44% | 1.51% | 1.46% |
| Tax | 0.33% | 0.36% | 0.39% | 0.37% |
| Associates and businesses sold or closedAssociates and businesses sold or closed. What sits between the tax line and the profit after tax, the group's share of its associates' profit and the result of businesses sold or closing: (profit after tax − (profit before tax − tax)) ÷ average total assets × 100 × 12 ÷ the months in the period, a rate per year; given only where the balance sheets at the start and at the end of the period are both held; not given for an insurer. Associates and businesses sold or closed in the glossary | 0.02% | 0.02% | 0.02% | 0.02% |
| Return on assets | 1.02% | 1.10% | 1.15% | 1.11% |
Cash flow
Consolidated, ₹ crore, years to March.
| ₹ crore | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026Filed 8 May |
|---|---|---|---|---|---|
| Cash from operationsCash from operations. Cash the business brought in from its operations in the period, after paying suppliers, staff and tax. Cash from operations in the glossary | 57,695 | −86,014 | 21,632 | 48,486 | 38,097 |
| Capital spendingCapital spending. Cash spent in the period on plant, equipment, buildings and other long-lived assets. Capital spending in the glossary | 3,051 | 4,671 | 4,175 | 5,637 | 8,363 |
| Free cash flowFree cash flow. Cash from operations less capital spending: what is left to repay borrowings, pay dividends or keep. Free cash flow in the glossary | 54,644 | −90,685 | 17,457 | 42,849 | 29,734 |
| Cash from investingCash from investing. Cash spent on, below nought, or received from plant, investments, businesses bought or sold, and interest and dividends received. Cash from investing in the glossary | −3,619 | −4,041 | −4,252 | −5,635 | −691 |
| Cash from financingCash from financing. Cash raised from, or paid to, lenders and shareholders: borrowings taken and repaid, interest, lease payments, dividends and shares issued or bought back. Cash from financing in the glossary | −3,845 | 6,386 | −9,896 | −13,739 | −3,427 |
| Dividends paidDividends paid. Cash paid to shareholders as dividends during the period. Dividends paid in the glossary | 3,570 | 6,337 | 10,085 | 12,227 | 14,231 |
| Shares issuedShares issued. Cash raised by selling new shares. Shares issued in the glossary | 0 | 0 | 0 | 0 | 24,995 |
| Net change in cashNet change in cash. Cash from operations, investing and financing added together: how much cash and cash equivalents rose or fell over the year, before currency effects. Net change in cash in the glossary | 50,232 | −83,668 | 7,484 | 29,112 | 33,979 |
Capital spending is part of cash from investing, and dividends paid, shares bought back and shares issued are part of cash from financing. Each is shown as an amount on a line of its own, and the section's other items are in its total only. No cash flow statement is on record for the years to Mar 2017, Mar 2018, Mar 2019, Mar 2020 and Mar 2021.
Growth and returns over 3, 5 and 10 years
Consolidated: the company and its subsidiaries together. Each window ends with the year to Mar 2026.
| Measure | 10 years | 5 years | 3 years |
|---|---|---|---|
| Revenue growth, yearly rateRevenue growth, yearly rate. 3 years: Revenue in the latest year ÷ revenue in the year three years before, to the power of one third, − 1, × 100: the yearly rate it grew at; empty where either year is missing, nought or a loss, or a change of year end falls between them. 5 years: Revenue in the latest year ÷ revenue in the year five years before, to the power of one fifth, − 1, × 100: the yearly rate it grew at; empty where either year is missing, nought or a loss, or a change of year end falls between them. 10 years: Revenue in the latest year ÷ revenue in the year ten years before, to the power of one tenth, − 1, × 100: the yearly rate it grew at; empty where either year is missing, nought or a loss, or a change of year end falls between them. | 10.0% | 13.1% | 14.4% |
| Profit growth, yearly rateProfit growth, yearly rate. 3 years: Profit to the company's own shareholders in the latest year ÷ profit to the company's own shareholders in the year three years before, to the power of one third, − 1, × 100: the yearly rate it grew at; empty where either year is missing, nought or a loss, or a change of year end falls between them. 5 years: Profit to the company's own shareholders in the latest year ÷ profit to the company's own shareholders in the year five years before, to the power of one fifth, − 1, × 100: the yearly rate it grew at; empty where either year is missing, nought or a loss, or a change of year end falls between them. 10 years: Profit to the company's own shareholders in the latest year ÷ profit to the company's own shareholders in the year ten years before, to the power of one tenth, − 1, × 100: the yearly rate it grew at; empty where either year is missing, nought or a loss, or a change of year end falls between them. | 21.2% | 30.0% | 14.4% |
| Return on equity, averageReturn on equity, average. 3 years: The plain average of the yearly return on equity over the last three years, needing at least two of them; a year without the figure is left out, never filled in. 5 years: The plain average of the yearly return on equity over the last five years, needing at least four of them; a year without the figure is left out, never filled in. 10 years: The plain average of the yearly return on equity over the last ten years, needing at least nine of them; a year without the figure is left out, never filled in. | – | 15.2% | 16.1% |
| Net margin, averageNet margin, average. 3 years: The plain average of the yearly net profit margin over the last three years, needing at least two of them; a year without the figure is left out, never filled in. 5 years: The plain average of the yearly net profit margin over the last five years, needing at least four of them; a year without the figure is left out, never filled in. 10 years: The plain average of the yearly net profit margin over the last ten years, needing at least nine of them; a year without the figure is left out, never filled in. | 6.9% | 11.5% | 12.0% |
| Asset turnover, averageAsset turnover, average. 3 years: The plain average of the yearly asset turnover over the last three years, needing at least two of them; a year without the figure is left out, never filled in. 5 years: The plain average of the yearly asset turnover over the last five years, needing at least four of them; a year without the figure is left out, never filled in. 10 years: The plain average of the yearly asset turnover over the last ten years, needing at least nine of them; a year without the figure is left out, never filled in. | – | 0.09 | 0.09 |
Where the cash came from and went
Consolidated: the company and its subsidiaries together. ₹ crore, added up over each window, which ends with the year to Mar 2026.
| ₹ crore | 5 years | 3 years | Latest year |
|---|---|---|---|
| Cash from operationsCash from operations. Latest year: Cash from operating activities in the latest year. 3 years: Cash from operating activities added over the last three years, needing every one of them. 5 years: Cash from operating activities added over the last five years, needing every one of them. | 79,897 | 1,08,216 | 38,097 |
| Cash from investingCash from investing. Latest year: Cash from investing activities in the latest year. 3 years: Cash from investing activities added over the last three years, needing every one of them. 5 years: Cash from investing activities added over the last five years, needing every one of them. | −18,237 | −10,577 | −691 |
| Cash from financingCash from financing. Latest year: Cash from financing activities in the latest year. 3 years: Cash from financing activities added over the last three years, needing every one of them. 5 years: Cash from financing activities added over the last five years, needing every one of them. | −24,521 | −27,063 | −3,427 |
| Capital spendingCapital spending. Latest year: Spending on property, plant and equipment in the latest year. 3 years: Spending on property, plant and equipment added over the last three years, needing every one of them. 5 years: Spending on property, plant and equipment added over the last five years, needing every one of them. | 25,897 | 18,175 | 8,363 |
| Dividends paidDividends paid. Latest year: Dividends paid in the latest year. 3 years: Dividends paid added over the last three years, needing every one of them. 5 years: Dividends paid added over the last five years, needing every one of them. | 46,449 | 36,543 | 14,231 |
| Shares issued for cashShares issued for cash. Latest year: Shares issued for cash in the latest year. 3 years: Shares issued for cash added over the last three years, needing every one of them. 5 years: Shares issued for cash added over the last five years, needing every one of them. | 24,995 | 24,995 | 24,995 |
Credit ratings
An agency's view of the chance the company repays a borrowing on time, from AAA, the highest, down to D, in default.
| Date | Agency | Borrowing rated | Rating | Outlook | Amount, ₹ Cr |
|---|---|---|---|---|---|
| 5 Oct 2026 | ICRA Limited | Basel III Tier II BondsLong-term scale | [ICRA]AAAReaffirmed and Withdrawn | Stable | 300 |
| 5 Oct 2026 | ICRA Limited | Non Convertible DebenturesLong-term scale | [ICRA]AAAReview, Re-affirm | Stable | 10,000 |
| 5 Oct 2026 | ICRA Limited | Basel III Tier I BondsLong-term scale | [ICRA]AA+Review, Re-affirm | Stable | 2,027 |
| 5 Oct 2026 | ICRA Limited | Infrastructure BondsLong-term scale | [ICRA]AAAReview, Re-affirm | Stable | 9,718 |
| 24 Jul 2026 | CARE Ratings Limited | Bonds-Tier I Bonds | CARE AA+Review, Re-affirm | Stable | 5,000 |
| 24 Jul 2026 | CARE Ratings Limited | Bonds-Tier II Bonds | WithdrawnReview, Other | ||
| 24 Jul 2026 | CARE Ratings Limited | Bonds-Infrastructure Bonds | CARE AAAReview, Re-affirm | Stable | 10,000 |
| 24 Jul 2026 | CARE Ratings Limited | Bonds-Tier II Bonds | CARE AAAReview, Re-affirm | Stable | 7,500 |
| 24 Jul 2026 | CRISIL Ratings Limited | Tier II bonds under Basel III | Crisil AAAReview, Re-affirm | Stable | 7,500 |
| 24 Jul 2026 | CRISIL Ratings Limited | Infrastructure Bonds | Crisil AAAReview, Re-affirm | Stable | 10,000 |
| 24 Jul 2026 | CRISIL Ratings Limited | Certificate of deposits | Crisil A1+Review, Re-affirm | 30,000 | |
| 24 Jul 2026 | CRISIL Ratings Limited | Tier I bonds under Basel III | Crisil AA+Review, Re-affirm | Stable | 6,000 |
| 24 Jul 2026 | CRISIL Ratings Limited | Fixed deposit programme | Crisil AAAReview, Re-affirm | Stable | |
| 5 Mar 2026 | CRISIL Ratings Limited | Debt Securities (Other than Securitisation) | WithdrawnReview, Other | 200 | |
| 5 Mar 2026 | CRISIL Ratings Limited | Debt Securities (Other than Securitisation) | Crisil AA+Review, Re-affirm | Stable | 5,000 |
| 5 Mar 2026 | CRISIL Ratings Limited | Debt Securities (Other than Securitisation) | Crisil AAAReview, Re-affirm | Stable | 8,931 |
| 5 Mar 2026 | India Ratings and Research Private Limited | Hybrid instruments (Tier II) | IND AAANew, New | Stable | 7,500 |
| 5 Mar 2026 | India Ratings and Research Private Limited | Bond | IND AAAReview, Re-affirm | Stable | 10,000 |
| 5 Mar 2026 | India Ratings and Research Private Limited | Certificate of deposit | IND A1+Review, Re-affirm | 30,000 | |
| 5 Mar 2026 | India Ratings and Research Private Limited | Issuer Rating | IND AAAReview, Re-affirm | Stable | |
| 5 Mar 2026 | India Ratings and Research Private Limited | Hybrid instruments (AT1) | WDReview, Other | 2,500 | |
| 5 Mar 2026 | India Ratings and Research Private Limited | Hybrid instruments (AT1) | IND AA+Review, Re-affirm | Stable | 3,974 |
| 14 Oct 2025 | CRISIL Ratings Limited | Others | Crisil A1+Review, Re-affirm | 30,000 | |
| 14 Oct 2025 | CRISIL Ratings Limited | Others | Crisil AAAReview, Re-affirm | Stable | |
| 13 Oct 2025 | ICRA Limited | Tier I (Basel III) - Bond Programme | [ICRA]AA+(Stable)Review, Re-affirm | Stable | 4,000 |
| 13 Oct 2025 | ICRA Limited | Fixed Deposit | [ICRA]AAA (Stable)Review, Re-affirm | Stable | |
| 13 Oct 2025 | ICRA Limited | Basel III Compliant Tier II Capital | [ICRA]AAA (Stable)Review, Re-affirm | Stable | 7,000 |
| 11 Sep 2025 | ICRA Limited | Long-term bonds | [ICRA]AAAReview, Other | Stable | 10,000 |
The latest rating on each borrowing. The agency's name opens its reasoning for the rating.