Guidance ledger · Q4 FY26

State Bank of India SBIN

3 revisions on record · 0 lowered · 1 raised — the strikethrough is what management used to say

gives specific guidance · held across quarters

Holding view → · latest concall · The pulse

↑ raised Credit growth guidance Q1 FY26 → Q4 FY26

~~12% (with 13% upside if uncertainties clear)~~ → 13-15% for FY27

“our credit growth guidance of 13 -15%”

→ narrowed NIM guidance framing Q1 FY26 → Q4 FY26

~~3% full year guidance with U-shaped trajectory~~ → 3% exit NIM achieved (FY26 domestic NIM 3.03%), reiterated for FY27 'through the cycle'

“to our guidance in terms of 1% ROA and 3% exit NIM”

→ narrowed ECL implementation timeline Q1 FY26 → Q4 FY26

~~'No idea on that' (Q1 dismissal)~~ → Formal April 2027 start with 4-year glidepath; 'confident of a smooth transition'

“The transition to expected credit loss based provisioning from April”

Method. Revisions come from management's own stated numbers, compared quarter over quarter across the covered concalls; each carries the verbatim quote. “No revisions” can also mean guidance too vague to pin down — see the posture chip above. Not investment advice.