SBI Funds Management Ltd
SBI Funds Management Ltd was incorporated in 1992 and received SEBI’s approval in 1993 to act as the asset management to SBI Mutual Fund. In 2004, the company became a joint venture when Société Générale Asset Management S.A. acquired a 37% stake in SBIMFL. The company serves both individuals as well as institutional investors offering diversified portfolio of mutual fund schemes across equity, debt, international and liquid schemes offering both actively managed and passive investment strategies.[1]
- Market Cap ₹ 95,364 Cr.
- Current Price ₹ 468
- High / Low ₹ 625 / 434
- Stock P/E 31.8
- Book Value ₹ 36.7
- Dividend Yield 0.00 %
- ROCE 56.6 %
- ROE 43.0 %
- Face Value ₹ 1.00
Pros
- Company is almost debt free.
- Company has delivered good profit growth of 28.7% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 37.5%
- Company has been maintaining a healthy dividend payout of 195%
Cons
- Stock is trading at 12.7 times its book value
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Financial Services Financial Services Capital Markets Asset Management Company
Part of BSE IPO BSE Financial Services Nifty IPO
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| 1,316 | 1,617 | 1,981 | 2,404 | 3,423 | 4,232 | 4,970 | |
| 489 | 443 | 531 | 600 | 704 | 814 | 914 | |
| Operating Profit | 826 | 1,174 | 1,450 | 1,804 | 2,719 | 3,418 | 4,056 |
| OPM % | 63% | 73% | 73% | 75% | 79% | 81% | 82% |
| 1 | 1 | 15 | 8 | 2 | -0 | -0 | |
| Interest | 4 | 4 | 4 | 5 | 8 | 9 | 9 |
| Depreciation | 30 | 32 | 33 | 34 | 37 | 40 | 44 |
| Profit before tax | 794 | 1,139 | 1,427 | 1,773 | 2,676 | 3,370 | 4,003 |
| Tax % | 24% | 24% | 25% | 25% | 23% | 25% | 24% |
| 606 | 863 | 1,071 | 1,331 | 2,063 | 2,531 | 3,051 | |
| EPS in Rs | 3.03 | 4.31 | 5.32 | 6.61 | 10.19 | 12.45 | 14.98 |
| Dividend Payout % | 25% | 17% | 14% | 13% | 10% | 44% | 531% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 25% |
| 3 Years: | 27% |
| TTM: | 17% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 29% |
| 3 Years: | 32% |
| TTM: | 21% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 36% |
| 3 Years: | 38% |
| Last Year: | 43% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 50 | 50 | 50 | 50 | 51 | 51 | 204 | 204 |
| Reserves | 1,935 | 2,525 | 3,521 | 4,718 | 6,706 | 8,231 | 5,698 | 7,279 |
| -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | |
| 171 | 253 | 210 | 231 | 356 | 470 | 455 | 744 | |
| Total Liabilities | 2,156 | 2,828 | 3,781 | 4,999 | 7,113 | 8,752 | 6,357 | 8,227 |
| 236 | 224 | 223 | 231 | 257 | 269 | 390 | 569 | |
| CWIP | -0 | -0 | 3 | 2 | -0 | 110 | -0 | 0 |
| Investments | 1,747 | 2,405 | 3,382 | 4,585 | 6,609 | 8,082 | 5,661 | 7,270 |
| 173 | 198 | 172 | 181 | 247 | 291 | 306 | 387 | |
| Total Assets | 2,156 | 2,828 | 3,781 | 4,999 | 7,113 | 8,752 | 6,357 | 8,227 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| 742 | 716 | 986 | 1,195 | 1,409 | 2,006 | 2,481 | |
| -620 | -482 | -840 | -1,009 | -1,276 | -937 | 3,009 | |
| -121 | -232 | -151 | -187 | -131 | -1,058 | -5,489 | |
| Net Cash Flow | 2 | 1 | -6 | -1 | 2 | 11 | 1 |
| Free Cash Flow | 729 | 713 | 975 | 1,183 | 1,399 | 1,886 | 2,454 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 114% | 84% | 92% | 90% | 71% | 81% | 86% |
Ratios
Standalone / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 11 | 9 | 9 | 8 | 11 | 10 | 6 |
| Inventory Days | |||||||
| Days Payable | |||||||
| Cash Conversion Cycle | 11 | 9 | 9 | 8 | 11 | 10 | 6 |
| Working Capital Days | -6 | -27 | -11 | -17 | -15 | -13 | -10 |
| ROCE % | 50% | 47% | 43% | 47% | 45% | 57% |
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Earnings Call Transcript
- Transcript of the earnings conference call relating to financial performance of the Company for the quarter and half year ended September 30, 2026
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Extension Of The Term Of M/S. Chhajed & Doshi, The Internal Auditor
- Board approved extension of internal auditor Chhajed & Doshi’s term from April 1, 2028 to March 31, 2030.
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Board Meeting Outcome for Outcome Of The Board Meeting
- Board approved extension of Chhajed & Doshi as internal auditor from April 1, 2028 to March 31, 2030.
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Announcement under Regulation 31A (LODR)-(8)(c) Submission of application to Exchange
- SBI Funds submitted NSE/BSE no-objection applications for promoter-group reclassification on October 27, 2026.
-
Announcement under Regulation 30 (LODR)-Newspaper Publication
- Disclosure of newspaper advertisement pertaining to unaudited financial results for the quarter and half year ended September 30, 2026
Concalls
-
Oct 2026Transcript PPT
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Oct 2026PPT REC
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Aug 2026Transcript PPT
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Aug 2026PPT REC
Clientele:[1]
As of December 31, 2025, the company serves more than 16.05 million investors, including both individual and institutional clients.