Wednesday, April 18, 2012

State Bank Of India

Learner Assignment - Data, Information, News, Analysis and Valuation

[1][2][3]Assignment of Himanshu Gupta

PGDIM-, NITIE
2008-2010
 
 

Quarterly results in brief
(Rs crore)
  Dec ' 08 Sep ' 08 Jun ' 08 Mar ' 08 Dec ' 07
Sales 18,030.34 15,566.50 13,799.20 13,576.73 12,666.81
Operating profit 13,332.38 11,350.61 8,990.54 8,712.93 8,568.57
Interest 12,272.15 10,111.15 8,981.54 8,776.14 8,410.45
Gross profit 4,482.62 4,193.21 3,962.34 4,373.13 3,659.74
EPS (Rs) 39.04 35.59 25.84 29.82 34.37
 
 
 

Quarterly results in details
 
Dec ' 08
Sep ' 08
Jun ' 08
Mar ' 08
Dec ' 07
Other income
3,225.56
2,343.14
2,403.87
2,817.20
2,697.19
Stock adjustment
-
-
-
-
-
Raw material
-
-
-
-
-
Power and fuel
-
-
-
-
-
Employee expenses
3,045.56
2,221.20
2,130.95
1,569.60
2,194.68
Excise
-
-
-
-
-
Admin and selling expenses
-
-
-
-
-
Research and development expenses
-
-
-
-
-
Expenses capitalised
-
-
-
-
-
Other expenses
1,455.57
1,384.08
1,128.24
1,675.06
1,099.13
Provisions made
196.83
610.61
1,549.47
1,619.14
804.43
Depreciation
-
-
-
-
-
Taxation
1,807.37
1,322.88
772.08
870.74
1,046.67
Net profit / loss
2,478.42
2,259.72
1,640.79
1,883.25
1,808.64
Extra ordinary item
-
-
-
-
-
Prior year adjustments
-
-
-
-
-
Equity capital
634.88
634.88
634.88
631.47
526.30
Equity dividend rate
-
-
-
-
-
Agg.of non-prom. shares (Lacs)
2576.73
2576.73
2576.73
2542.63
2119.60
Agg.of non promotoholding (%)
40.59
40.59
40.59
40.27
40.27
OPM (%)
73.94
72.92
65.15
64.18
67.65
GPM (%)
21.09
23.41
24.45
26.68
23.82
NPM (%)
11.66
12.62
10.13
11.49
11.77

 

 
Source :-
 
 
 

Half yearly results in brief
(Rs crore)
 
Sep ' 08
Mar ' 08
Sep ' 07
Mar ' 07
Mar ' 06
Sales
29,365.70
26,243.54
22,706.77
21,277.40
18,067.23
Operating profit
20,341.15
17,281.50
16,391.54
12,545.20
9,843.15
Interest
19,092.69
17,186.59
14,742.48
13,005.94
10,292.78
Gross profit
8,155.55
8,032.87
5,074.68
6,823.37
5,876.83
EPS (Rs)
61.44
58.47
57.71
48.61
37.40

 

 
 

Half yearly results in details
 
Sep ' 08
Mar ' 08
Sep ' 07
Mar ' 07
Mar ' 06
Other income
4,747.01
5,514.39
3,180.54
4,705.33
4,517.50
Stock adjustment
-
-
-
-
-
Raw material
-
-
-
-
-
Power and fuel
-
-
-
-
-
Employee expenses
4,352.15
3,764.28
4,021.59
4,053.59
4,448.29
Excise
-
-
-
-
-
Admin and selling expenses
-
-
-
-
-
Research and development expenses
-
-
-
-
-
Expenses capitalised
-
-
-
-
-
Other expenses
2,512.32
2,774.19
2,048.56
2,099.83
1,966.83
Provisions made
2,160.08
2,423.57
245.08
2,578.78
1,808.96
Depreciation
-
-
-
-
-
Taxation
2,094.96
1,917.41
1,792.37
1,686.34
2,099.39
Net profit / loss
3,900.51
3,691.89
3,037.23
2,558.25
1,968.48
Extra ordinary item
-
-
-
-
-
Prior year adjustments
-
-
-
-
-
Equity capital
634.88
631.47
526.30
526.30
526.30
Equity dividend rate
-
-
-
-
-
Agg.of non-prom. shares (Lacs)
2576.73
2119.60
211.96
3143.39
2119.60
Agg.of non promotoholding (%)
40.59
40.27
40.27
59.73
40.27
OPM (%)
69.27
65.85
72.19
58.96
54.48
GPM (%)
23.91
25.29
19.60
26.26
26.02
NPM (%)
11.43
11.63
11.73
9.85
8.72

 

 
Source :-
 
 

Annual results in brief
(Rs crore)
 
Mar ' 08
Mar ' 07
Mar ' 06
Mar ' 05
Mar ' 04
Sales
48,950.31
39,491.02
35,794.93
32,428.00
30,460.48
Operating profit
33,673.05
25,257.87
19,676.75
17,885.07
16,587.07
Interest
31,929.08
23,436.82
20,159.29
18,483.38
19,274.16
Gross profit
13,107.55
9,999.94
11,299.23
10,990.36
9,553.46
EPS (Rs)
106.56
86.29
83.73
81.79
69.94

Annual results in details
 
Mar ' 08
Mar ' 07
Mar ' 06
Mar ' 05
Mar ' 04
Other income
8,694.93
5,769.25
7,388.69
7,119.91
7,612.45
Stock adjustment
-
-
-
-
-
Raw material
-
-
-
-
-
Power and fuel
-
-
-
-
-
Employee expenses
7,785.87
7,932.58
8,123.04
6,907.35
6,447.69
Excise
-
-
-
-
-
Admin and selling expenses
-
-
-
-
-
Research and development expenses
-
-
-
-
-
Expenses capitalised
-
-
-
-
-
Other expenses
4,822.74
3,890.93
3,602.06
3,166.82
2,797.62
Provisions made
2,668.65
2,409.64
4,393.08
4,468.76
4,628.10
Depreciation
-
-
-
-
-
Taxation
3,709.78
3,048.99
2,499.48
2,217.08
1,244.36
Net profit / loss
6,729.12
4,541.31
4,406.67
4,304.52
3,681.00
Extra ordinary item
-
-
-
-
-
Prior year adjustments
-
-
-
-
-
Equity capital
631.47
526.30
526.30
526[4].30
526.30
Equity dividend rate
-
-
-
-
-
Agg.of non-prom. shares (Lacs)
2119.60
3143.39
2119.60
2119.60
2119.60
Agg[5].of no[4]n promotoHolding (%)
40.27
59.73
40.27
40.27
40.27
OPM (%[6])
68.79
63.96
54.97
55.15
54.45
GPM (%)
22.74
22.09
26.17
27.79
25.09
NPM (%)
11.67
10.03
10.20
10.88
9.67

 

 
 

Important News

 
  1. SBI  is awarded “THE BEST BANK OF THE YEAR 2008 – INDIA" by “THE BANKER” magazine, London.
  2. 9 best stocks for 2009.
  3. LIC, SBI, PNB to go for major hiring.
  4. SBI Magnum Taxgain Scheme ranks numero uno in 5 yr return category
  5. SBI To Retain Contact with Satyam
  6. SBI to raise 5k crore via bond issue by selling TIER 2 bonds to individuals.
     

Awards & Achievements

     

Background Information

        Major Shareholders   Govt Of INDIA         

       Board Of Directors

 
    Shri O.P. Bhatt
    Chairman
    Shri S.K. Bhattacharyya
    MD & CC&RO
    Shri R. Sridharan
    MD & GE(A&S)
    Dr. Ashok Jhunjhunwala
    Board Member 
    Shri Dileep C. Choksi
    Board Member 
    Shri S. Venkatachalam
    Board Member 
    Shri. D. Sundaram
    Board Member 
    Dr. Deva Nand Balodhi
    Board Member 
    Prof. Mohd. Salahuddin Ansari
    Board Member 
    Dr.(Mrs.) Vasantha Bharucha
    Board Member 
    Dr. Rajiv Kumar
    Board Member 
    Shri Arun Ramanathan
    Board Member 
    Smt. Shyamala Gopinath
    Board Member 

 

We will analyze the stock price of SBI by various methods.
1.    Graham Rao Method (Value Investing):
 

It is a method of systematic fundamental analysis of the stock of a company by conservative investors based on several parameters. It is useful to identify equity stocks for buy and hold investment. To know more about it, Please visit the following link:
http://knol.google.com/k/narayana-rao-kvss/fundamental-analysis-grahamrao-method/2utb2lsm2k7a/7#


 
  Qualitative Criteria:


1. Adequate Size of the Enterprise: 

 The Company must have a good sales figure and a strong financial condition. The annual sales of the company should be 100 Cr INR for Indian Companies.

 
2. Dividend Record:

The Company should have paid dividend continuously in the last 10 year.

 
3. Earnings Stability: 

The Company should have earned profits for the last 10 years.

 
4. Earnings Growth:   

  The Company should have atleast 10% EPS growth in the last seven years

 
5. A Sufficiently Strong Financial Condition:

The Company should have current assets at least twice current liabilities, i.e. the current ratio of the company should be 2:1.
 

6. Debt-Equity ratio:

The Debt-Equity ratio should not be greater than one.
 
 
 

   Quantitative Criteria: 

 
Year
Equity Capital in INR cores
Face Value 
    Outstanding shares 
    PAT
    EPS on accounting year end
1999
10278
10
526298878
1027.8
19.53
2000
20515.5
10
526298878
2051.55
38.98
2001
16042.5
10
526298878
1604.25
30.48
2002
24316.2
10
526298878
2431.62
46.2
2003
31050
10
526298878
3105
59
2004
36810
10
526298878
3681
69.94
2005
43045.2
10
526298878
4304.52
81.79
2006
44066.7
10
526298878
4406.67
83.73
2007
45413.1
10
526298878
4541.31
86.29
2008
67291.2
10
631470376
6729.12
106.56

 

 
 
 
                       
Seven Year Average 76.21571
Ratio of Average and Initial 1.649691
Growth 16.5
Fair P/E 16.5
Fair Price 1257.559
Mkt Price  934.5
 
 
So the  SBI stock as per Graham Rao Method is Undervalued
Original knol - Number 639
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