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State Bank of India, established in 1955, is a banking company (having a market capitalization of Rs. 473941.51 million).
Major Products / Segments of Income of State Bank of India for the year ending 31-March-2022 include Interest & Discounts, Income from Investments, Interest and Interest on Balances with RBI and other inter-bank funds.
Financials
For the quarter ended 30-06-2022, the company reported a Consolidated Revenue of Rs 94524.30 crore, down -12.51% from the previous quarter’s Rs 108034.68 crore and down 1.35% from 9,966 in the same quarter last year. . The bank reported a net profit after tax of Rs 7325.11 crore in the last quarter.
Investment Rationale
Under the base case scenario, we expect the bank to post ROA/ROE of 0.9%/15% by FY24E driven by healthy balance sheet growth coupled with high PCR and stable capital quality. The brokerage recommends BUY with a target price of ₹642 (21% upside potential). It is an independent bank with a PBV of 1.3xFY24E Adj. BVPS of ₹ 379 and equity value per share at ₹ 149.
Promoter / FII Holdings
Investors held 57.57 percent stake in the company as of 30-June-2022, while FIIs held 9.62 percent, DIIs 25.09 percent.
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