SBI Share Price: State Bank of India (SBI) shares gained 1.8 per cent on Monday, August 11, 2025, touching an intra-day high of Rs 819.15 on the BSE. The uptick followed the lender’s Q1 earnings announcement
during market hours on Friday, which sparked renewed buying interest in the stock.
State Bank of India (SBI) reported a Q1FY26 net profit of Rs 19,160 crore, up from Rs 17,035 crore in the same period last year, surpassing Street estimates of Rs 17,095 crore. The bank’s interest income rose 6% year-on-year (YoY) to Rs 1,17,996 crore, while interest costs increased 9% YoY to Rs 76,923 crore.
Net interest income (NII) fell 4% sequentially to Rs 41,070 crore, with net interest margin (NIM) down 10 basis points (bps) to 2.9%. Operating expenses dropped 22% quarter-on-quarter (QoQ) to Rs 27,278 crore, supported by lower employee and other costs.
The loan book grew 12% YoY, deposits rose 11.7% YoY, and CASA ratio fell 61 bps QoQ to 39.4%. Slippages stood at Rs 8,393 crore (0.75% ratio), with gross NPA rising marginally by 1 bp QoQ to 1.83% and net NPA stable at 0.47%, while provision coverage ratio (PCR) stood at 74.5%.
Brokerages maintained a bullish stance on the stock post-results. Motilal Oswal reiterated its ‘Buy’ rating with a target price of Rs 925, citing the 13% earnings beat driven by strong treasury gains and controlled operating expenses, along with healthy loan and deposit growth.
JM Financial maintained a ‘Buy’ with a target of Rs 950, highlighting stable loan growth, higher core fee income, lower operating expenses, and robust asset quality, while noting that valuations remain attractive at 0.9x FY27E adjusted BVPS.
Antique Stock Broking also kept its ‘Buy’ call with a target price of Rs 955, stating that higher other income and lower opex aided the earnings beat, though it trimmed FY26 and FY27 growth estimates slightly due to muted system growth.
Avendus upgraded SBI to a ‘Buy’ from ‘Add’ and raised its target price to Rs 938, expecting faster-than-system growth, strong asset quality, and operating efficiency to offset NIM pressures, with projected FY26 NIM at 2.7% and RoA/RoE moderating to 1.0%/15.1%.
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