Rs 68,000 crore wiped out! SBI shares crash 6.7% after Q4 results

State Bank of India (SBI), India's largest commercial bank, lost around Rs 67,932 crore (approx. Rs 68,000 crore) in market capitalisation on Friday after the country’s largest lender reported March quarter earnings that missed analysts’ expectations.

SBI shares came under heavy selling pressure after the earnings announcement. The stock dropped as much as 7.4 per cent during intraday trade to Rs 1,011.3 apiece before ending the session 6.6 per cent lower at Rs 1,019.6 on BSE. The stock had settled at Rs 1,018.40, down 6.74 per cent for the day.

Following the sharp decline in the share price, SBI’s market capitalisation fell to around Rs 9.40 lakh crore. The fall marked the steepest single-day decline in SBI shares since June 4, 2024.

Net profit and NII miss estimates

State Bank of India reported a standalone net profit of Rs 19,684 crore for the quarter ended March 31, registering a growth of 5.6 per cent compared with the corresponding period a year ago.

However, the profit figure came below market estimates. According to Zee Business research, analysts had estimated the lender’s quarterly net profit at Rs 20,030 crore.

The bank’s net interest income (NII), which is the difference between interest earned and interest paid, rose 3.8 per cent year-on-year to Rs 44,386 crore during the quarter.

The NII figure also missed expectations. Analysts had projected NII at Rs 46,940 crore. SBI’s net interest margin (NIM), a key measure of profitability for banks, stood at 2.93 per cent during the March quarter as against 3.14 per cent in the year-ago period. The decline in margins also weighed on investor sentiment after the earnings announcement.

SBI Share Price History

SBI is currently trading 17.52 per cent below its 52-week high of Rs 1,234.70 touched on February 24, 2026. However, it remains 34.80 per cent above its 52-week low of Rs 755.50 hit on May 9, 2025.

On a weekly basis, SBI shares have declined 4.68 per cent, underperforming the Nifty 50, which gained 0.74 per cent during the same period. The stock has also fallen 4.06 per cent in one month, while the benchmark index rose 0.75 per cent.

Despite the recent weakness, SBI shares have delivered positive returns over the longer term. The stock has gained 3.42 per cent so far in 2026, compared with a 7.54 per cent decline in the Nifty 50. Over one year, SBI shares have risen 32.43 per cent against a 0.40 per cent fall in the benchmark index.

In the longer term, the stock has surged 74.50 per cent in the past three years, outperforming the Nifty 50 return of 32.37 per cent. Over five years, SBI shares have rallied 184.27 per cent, while the Nifty 50 has gained 63.10 per cent during the same period.

Asset quality improves in Q4 FY26

Despite weaker-than-expected earnings, the bank reported improvement in asset quality during the quarter. Gross non-performing assets (GNPA) stood at 1.49 per cent of total advances at the end of March compared with 1.57 per cent at the end of December.

Net non-performing assets (NNPAs) remained unchanged sequentially at 0.39 per cent. The bank’s provisions declined sharply to Rs 2,872 crore in the March quarter from Rs 4,507 crore in the previous quarter and Rs 6,442 crore in the corresponding quarter last year.

SBI’s slippage ratio stood at 0.47 per cent for the quarter, increasing by 7 basis points compared with the previous three months. The slippage ratio is a key indicator that measures the rate at which standard assets turn into non-performing assets. A lower slippage ratio generally indicates better asset quality and stronger risk management.