SBI Funds Management logo

SBI Funds Management

SBIFUNDS NSE

Key Fundamentals

Largecap
Market Cap
1.1L Cr
Volatility
Moderate
P/E Ratio
36.6
EBITDA
₹4,058 Cr
Return on Equity
51.44%
Debt to Equity
0
Book Value
₹29.28
52W High
₹624.95
52W Low
₹536.5

Tapetide Score

Data-driven rating, 0–100. How it works →

Key Insights

Strengths

3
  • Company is almost debt free.
  • Company has delivered good profit growth of 28.9% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 37.6%

Growth Rate

Revenue Growth
17.47% lower than 3Y
Net Income Growth
20.75% lower than 3Y
Cash Flow Change
24.86% lower than 3Y
ROE
68.05% higher than 3Y
ROCE
65.35% lower than 3Y
EBITDA Margin (Avg.)
1.23% lower than 3Y

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 2d ago
AI opinion · based on fundamentals
Risk medium

SBI Funds Management Ltd operates as one of India's largest asset management companies with a market cap of ₹1,11,313 Cr and trades at a P/E of 36.6x. The company has delivered compounded profit growth of 29% CAGR over 5 years with a last-year ROE of 43%, while operating in a virtually debt-free structure.

Bull Case 8
  • Exceptional profitability with last-year ROE of 43%, well above typical financial services benchmarks, indicating highly efficient capital deployment
  • Strong compounded profit growth of 29% CAGR over 5 years and 34% CAGR over 10 years, demonstrating sustained earnings momentum across market cycles
  • Company is almost debt free, eliminating balance sheet risk and providing financial flexibility during market downturns
  • Robust revenue trajectory with compounded sales growth of 25% CAGR over both 5-year and 10-year periods, showing consistent top-line expansion
  • Consistent 3-year ROE of 38% and 5-year ROE of 37% reflect structural profitability rather than a one-off spike
  • Dividend yield of approximately 14.4% is exceptionally high, suggesting significant cash return to shareholders relative to the stock price
  • TTM sales growth of 17% and TTM profit growth of 21% indicate that the business continues to grow even on a larger base
  • Asset-light business model as a fund manager means high operating leverage — incremental AUM growth flows through to profits with minimal capital expenditure
Bear Case 8
  • P/E ratio of 36.6x is elevated, pricing in significant future growth and leaving limited margin of safety if earnings disappoint
  • P/B ratio of 18.81x is extremely high, suggesting the stock trades at a steep premium to book value which could compress during market corrections
  • TTM sales growth of 17% has decelerated from the 3-year CAGR of 27%, indicating a potential slowdown in AUM accretion or fee income growth
  • Revenue and profits are directly tied to equity market levels — a prolonged bear market in Indian equities would compress AUM-linked management fees
  • Regulatory risk from SEBI's ongoing push to reduce total expense ratios could structurally lower fee yields; past TER cuts in 2018 already impacted industry margins
  • Increasing competition from passive funds, ETFs, and new-age AMCs could pressure market share and fee rates over time, eroding the 25% long-term sales CAGR
  • 52-week high and low data are unavailable (reported as 0), limiting visibility into recent price volatility and technical positioning
  • Absence of reported EPS, ROCE, and debt-to-equity figures in available data reduces transparency for a complete fundamental assessment

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 2h ago
Headwinds 4
  • Equity flow market share declining Aug 28

    Jefferies flagged sustained decline in equity-flow market share as a key risk. SBI Funds has lost some market share and performance in certain categories has slipped.

  • Expense-ratio regulation risk Aug 28

    Jefferies estimates a 1 basis point reduction in net equity yield could lower EPS by ~2% over FY27-29, flagging regulatory changes to expense ratios as a downside risk.

  • PAT growth lags on dividend impact Aug 28

    PAT growth expected at only 13% CAGR through FY29 as investment assets fell 30% YoY in FY26 due to a one-time ₹3,560 crore special interim dividend.

  • Stock trading below IPO price Aug 17

    SBI Funds Management shares remain under pressure post its July 21 listing, trading below IPO price at ~₹577 with a 30-40% valuation discount to peers like Nippon and HDFC AMC.

Positives 7
  • AUM crosses ₹13 trillion milestone Aug 31

    AUM crossed ₹13 trillion with 17% QoQ growth in Q1 2026. Mutual fund QAAUM recorded 19% CAGR over FY21-26, driven by 33% CAGR in equity QAAUM.

  • Three brokerages initiate with Buy Aug 31

    BofA Securities, HSBC, and Motilal Oswal all initiated coverage with Buy recommendations on Aug 31, citing SBI-backed distribution moat, B30 leadership, and operating leverage.

  • Jefferies sets ₹710 Buy target Aug 28

    Jefferies initiated with Buy and ₹710 target implying ~26% upside from ₹577.40, expecting 18% AUM CAGR and 15% OPAT CAGR through FY29. Emkay and Equirus also have Buy ratings.

  • SIP flows resilient, 98% long-term Aug 31

    98% of SIPs registered for 36+ months with T30/B30 distribution near 50:50. 66% of SIPs originate from B30 markets, indicating deep retail penetration beyond top cities.

  • Alternatives emerging as growth lever Aug 31

    SBI Funds launched a specialized investment fund focused on top 100 companies that garnered ₹1,154 crore within 14 days. Alternatives expected to drive revenue diversification over 2-3 years.

  • Valuation discount signals opportunity Aug 17

    Expert Gurmeet Chadha sees the 30-40% discount to peers as compelling, noting earnings momentum is back after 2-3 years and the franchise benefits from rising MF penetration.

  • Lowest cost operator among peers Aug 28

    Core operating expenses at ~3.3 bps of average AUM versus 10-11 bps for peers, giving SBI Funds significant operating leverage as AUM scales.

Neutral 2
  • Joint CEO exits on superannuation Aug 31

    Joint CEO Devinder Pal Singh exited on Aug 31, 2026 upon reaching superannuation age. Debasish Mishra continues as MD and CEO, ensuring leadership continuity.

  • Rajat Grover appointed as CPSO Aug 20

    Board approved redesignation of Rajat Grover to Chief People & Sustainability Officer effective Aug 20, 2026.

TL;DR: SBI Funds Management is firing on most cylinders — AUM has crossed ₹13 trillion with strong 17% QoQ growth, equity mix is improving to mid-40s of total AUM, and SIP stickiness is exceptional with 98% registered for 36+ months. Key risks include declining equity flow market share, potential expense-ratio regulation changes, and the stock still trading below its IPO price at a 30-40% discount to listed AMC peers. The broad consensus among brokerages (Jefferies, BofA, HSBC, Motilal Oswal, Emkay, Equirus) is bullish with Buy ratings, and the company's cost leadership at 3.3 bps vs 10-11 bps for peers provides significant operating leverage as India's MF penetration deepens.

Quarterly Results

Particulars Jun 2025Mar 2026Jun 2026
Sales
1,001
1,139
1,153
Expenses
214
221
230
Operating Profit
787
918
923
OPM %
79%
81%
80%
Other Income
331
-43
242
Interest
2
2
2
Depreciation
11
12
12
PBT
1,106
861
1,151
Tax %
23%
26%
24%
Net Profit
849
634
880
EPS in Rs
4.18
3.11
4.32
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales
452
551
777
1,272
1,317
1,619
1,985
2,405
3,424
4,235
4,966
Expenses
205
292
436
755
491
446
533
603
708
823
918
Operating Profit
248
259
342
517
826
1,173
1,451
1,802
2,716
3,411
4,048
OPM %
55%
47%
44%
41%
63%
72%
73%
75%
79%
81%
82%
Other Income
1
2
1
1
2
2
26
19
15
16
25
Interest
0
0
0
0
4
4
4
5
8
9
9
Depreciation
5
10
13
15
30
32
33
34
37
40
44
PBT
243
251
330
503
794
1,139
1,440
1,782
2,686
3,379
4,020
Tax %
33%
34%
32%
34%
24%
24%
25%
25%
23%
25%
24%
Net Profit
164
165
224
331
606
863
1,082
1,340
2,073
2,540
3,067
EPS in Rs
—
—
—
1.66
3.03
4.31
5.38
6.65
10.23
12.5
15.06
Div. Payout %
34%
3637%
31%
21%
25%
17%
14%
13%
10%
0%
529%
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
50
50
50
50
50
50
50
50
51
51
204
Reserves
490
583
723
971
1,939
2,528
3,536
4,701
6,697
8,247
5,759
Borrowings
0
0
0
0
0
65
0
0
0
0
0
Other Liabilities
138
151
214
273
172
190
211
232
359
474
457
Total Liabilities
678
784
987
1,294
2,161
2,833
3,798
4,984
7,107
8,772
6,420
Fixed Assets
172
178
177
176
236
224
223
231
257
270
391
CWIP
0
0
2
2
0
0
3
2
0
110
0
Investments
255
338
498
612
1,749
2,408
3,395
4,609
6,645
8,111
5,704
Other Assets
252
268
310
505
176
201
176
141
205
281
325
Total Assets
678
784
987
1,294
2,161
2,833
3,798
4,984
7,107
8,772
6,420
Figures in ₹ Crores

Cash Flow

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
—
154
210
166
745
718
1,008
1,199
1,438
1,992
2,488
Investing
—
-98
-133
-85
-623
-484
-841
-973
-1,305
-938
2,974
Financing
—
-66
-72
-84
-121
-232
-172
-228
-132
-1,043
-5,458
Net Cash Flow
—
-9
5
-4
2
1
-5
-2
2
12
4
Free Cash Flow
—
138
197
152
732
715
997
1,188
1,428
1,873
2,460
CFO/OP
—
95
93
67
114
84
93
91
72
81
87
Figures in ₹ Crores

Ratios

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
15
15
11
29
11
9
9
9
11
11
6
Cash Conversion Cycle
15
15
11
29
11
9
9
9
11
11
6
Working Capital Days
-28
-11
-25
20
-6
-13
-11
-17
-15
-13
-10
ROCE %
—
43%
47%
56%
—
49%
46%
43%
47%
45%
56%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view SBI Funds Management insights

13 extracted metrics + investor summaries across FY25–FY27.

Log in — free

Shareholding Pattern

Promot.98.19%Others1.81%As ofMar 2026
A trend needs at least two reported periods.

Documents

Frequently Asked Questions about SBI Funds Management

What does SBI Funds Management Ltd do?
SBI Funds Management Ltd is one of India’s largest asset management companies, managing mutual funds and investment products across equity, debt and hybrid categories for retail and institutional investors. Incorporated in 1992 and headquartered in Mumbai, it is a joint venture between Sta...
Where is SBI Funds Management Ltd (SBIFUNDS) listed?
SBI Funds Management Ltd trades as SBIFUNDS on the NSE and under code 544829 on the BSE.
Which sector does SBI Funds Management Ltd belong to?
SBI Funds Management Ltd is classified under the Financial Services sector, in the Capital Markets industry.
What is the market capitalisation of SBI Funds Management Ltd?
SBI Funds Management Ltd has a market capitalisation of ₹1,11,313 Cr, which places it in the Large Cap band.
What is the PE ratio of SBI Funds Management Ltd?
SBI Funds Management Ltd trades at a PE ratio of 36.60, against a book value of ₹29.28 per share.
What is the 52-week high and low of SBI Funds Management Ltd?
Over the last 52 weeks SBI Funds Management Ltd has traded between ₹536.5 and ₹624.95.
Does SBI Funds Management Ltd pay dividends?
SBI Funds Management Ltd has a dividend yield of 14.45%.
What is the Return on Equity (ROE) of SBI Funds Management Ltd?
SBI Funds Management Ltd reported a return on equity of 51.44%. Its debt-to-equity ratio is 0.00.

Company Information

SBI Funds Management Ltd is one of India’s largest asset management companies, managing mutual funds and investment products across equity, debt and hybrid categories for retail and institutional investors. Incorporated in 1992 and headquartered in Mumbai, it is a joint venture between State Bank of India and Amundi, offering services such as portfolio management, alternative investment funds and offshore funds. The company generates its revenue through asset management fees based on assets under management and is a key player in India’s growing mutual fund and investment ecosystem.[1]

Listed 2026-07-21
Face Value ₹ 1

For AI agents and developers

Reading this as an AI agent, LLM or automated pipeline? Every page on Tapetide is also published as clean Markdown — no navigation, no scripts, just the data. Fetch https://tapetide.com/stocks/SBIFUNDS.md for SBI Funds Management Ltd: company profile, latest price, key fundamentals, the Tapetide Score, growth rates, quarterly and annual financial statements, shareholding pattern, technical indicators, analyst ratings and exchange filings.

Append .md to any Tapetide URL for the same treatment. A full index of what we publish is at /llms.txt and /llms-full.txt. For live, structured queries instead of documents, use our MCP server.

Explore More

More in Financial Services → FII DII Data Stock Screener Nifty 50 Heatmap F&O Ban List