Submi ed By: Manav Singh

Roll No.: 2K22/BMS/27

Bachelor in Management Studies, University of Delhi
Subject: DSC - Business Analysis And Valua on
Faculty: Prof. Shikha Singh
Submi ed on: 20 th March 2025
 Profit & Loss Account for the Year Ended 31st
March 2024
(Figures in '000s omitted)

S No.
Particulars 2023-24 2022-23

I. INCOME
Interest Earned 13 3,15,130,65,55 3,32,103,06,02
Other Income 14 41,682,16,37 36,615,59,76
Total Income 7,66,812,81,92 3,68,718,65,78
II. EXPENDITURE
Interest Expended 15 2,55,254,82,88 1,87,262,55,56
Operating Expenses 16 1,24,860,81,35 97,743,13,61
Provisions & Contingencies - 65,620,55,67 33,480,51,25
Total Expenditure 8,05,736,19,90 3,18,486,20,42
III. PROFIT
Net Profit for the Year - 61,076,62,02 50,232,45,36
Add: Profit Brought Forward - 24,098,71,82 5,881,40,49
Total Profit Available 85,175,33,84 56,113,85,85
IV. APPROPRIATIONS
Transfer to Statutory Reserve - 18,322,98,60 15,069,73,61
Transfer to Capital Reserve - 326,21,04 232,80,84
Transfer to/(from) Investment Fluctuation
Reserve - (749,08,05) 4,575,43,43
Transfer to Revenue & Other Reserves - 4,920,59,36 2,052,35,00
Dividend for the Current Year - 12,226,71,83 10,084,81,15
Balance Carried Over to Balance Sheet - 50,127,91,06 24,098,71,82
Total Appropriations 85,175,33,84 56,113,85,85
EARNINGS PER EQUITY SHARE (Face
V. Value J 1 per share)
Basic EPS - 68.44 56.29
Diluted EPS - 68.44 56.29
Significant Accounting Policies 17
Notes to Accounts 18
 Balance Sheet as at 31st March 2024
(Figures in '000s omitted)

S No. As at As at
Particular 31.03.2024 31.03.2023
I. Capital & Liabilities
Capital 1 89,246,12 89,246,12
Reserves & Surplus 2 3,76,354,07,25 3,26,715,98,77
49,16,076,76,9 44,23,777,77,6
Deposits 3 3 3
Borrowings 4 5,97,560,90,78 4,93,135,15,62
Other Liabilities & Provisions 5 2,88,809,73,42 2,72,457,14,51
61,79,693,94,5 55,16,978,52,6
Total 0 5
II. Assets
Cash and Balances with RBI 6 2,25,141,69,61 2,47,087,57,52
Balances with Banks & Short-term
Investments 7 85,660,29,19 60,812,04,28

16,71,339,65,6 15,70,366,22,5
Investments 8 1 7
37,03,970,85,4 31,99,269,29,6
Advances 9 0 8
Fixed Assets 10 42,617,25,25 42,381,80,31
Other Assets 11 4,50,964,19,44 3,97,061,58,29
61,79,693,94,5 55,16,978,52,6
Total 0 5
23,89,320,82,3 18,26,574,12,4
Contingent Liabilities 6 3
12
Bills for Collection - 67,795,94,05 64,531,07,67
Significant Accounting Policies 17
Notes to Accounts 18
 RATIOS

Summary of Liquidity Ratios (2023-24)

Ratio Formula Calculation Value

Current Ratio Current Assets / Current ₹42,15,71,09,000 / 0.34
Liabilities ₹53,23,91,74,550
Quick Ratio Quick Assets / Current ₹35,51,15,28,000 / 0.68
Liabilities ₹63,23,91,74,550
Cash Ratio (Cash + Bank Balances + ₹5,60,00,00,000 / 0.04
Marketable Securities) / ₹73,23,91,74,550
Current Liabilities
Basic Defence (Cash + Bank Balances + (₹4,60,00,00,000 + 134.82 days
Interval Ratio Net Receivables + ₹11,58,97,20,000) /
Marketable Securities) / ₹12,94,75,000
Daily
Operating Expenses
Net Working Current Assets - Current ₹32,15,71,09,000 - (₹25,71,76,96,550)
Capital (NWC) Liabilities ₹73,23,91,74,550

Summary of Capital Structure Ra os (2023-24)

Ratio Formula Calculation Value

Equity Ratio Shareholder’s Equity / Net ₹1,50,36,00,000 / 0.35
Assets (Capital Employed) ₹5,14,18,57,14,285 (35%)
Debt Ratio Total Debt / Net Assets (Capital ₹30,78,57,14,285 / 4.31
Employed) ₹8,14,28,57,14,285
Debt-Equity Ratio Total Debt / Shareholder’s ₹30,78,57,14,285 / 12.19
Equity ₹1,70,00,00,000
Debt to Total Total Debt / Total Assets ₹40,78,57,14,285 / 0.79
Assets Ratio ₹48,98,21,42,857 (79%)
Capital Gearing Borrowed Funds / (Equity ₹10,51,00,00,000 / 0.34
Ratio Share (₹18,00,00,00,000 + (31%)
Capital + Reserves & Surplus - ₹7,39,76,00,000)
Losses)
Proprietary Ratio Proprietary Fund / Total Assets ₹1,53,88,89,286 / 0.075
₹27,98,21,42,857 (5.4%)
 Summary of Capital Structure Ratios for SBI
(2023-24)

Ratio Formula Calculation Result

Debt Service Earnings Available for Debt ₹3,41,952 / 0.4
Coverage Ratio Service / (Interest + Installments) (₹2,55,254.82
(DSCR) + ₹5,97,560.90)
Interest Coverage EBIT / Interest ₹3,41,952 / 1.34
Ratio ₹2,55,254.82
Preference Net Profit (EAT) / Preference ₹61,076.62 / ₹12,226.71 4.99
Dividend Dividend
Coverage
Ratio
Equity Dividend Earnings Available for Equity ₹61,076.62 / ₹12,226.71 4.99
Coverage Ratio Shareholders / Equity Dividend
Fixed Charges (EBIT + Depreciation) / (Interest (₹3,41,952 + ₹0) / 0.4
Coverage Ratio + (₹2,55,254.82 +
Principal) ₹5,97,560.90)

Summary of Activity ratio/ Efficiency ratio/

Performance ratio/ Turnover ratio (2023-24)

Ratio Formula Calculation Value

Total Asset Sales / Total Assets 5,49,056.23 / 0.09
Turnover Ratio 61,79,693.94
Fixed Asset Sales / Fixed Assets 5,49,056.23 / 0.43
Turnover Ratio 12,76,970.45
Capital / Net Assets Sales / Net Assets (Capital 5,49,056.23 / 0.09
Turnover Ratio Employed) 61,79,693.94
Current Asset Sales / Current Assets 5,49,056.23 / 0.08
Turnover Ratio 69,78,174.92
Working Capital Sales / Working Capital 5,49,056.23 / (- -0.24
Turnover Ratio 22,71,779.65)
Finished Goods COGS / Average Inventory of 4,26,340.15 / 83,320.72 5.12
(FG) FG
Inventory Turnover
Ratio
Raw Material (RM) Raw Material Consumed / 2,10,560.32 / 43,100.90 4.89
Inventory Turnover Average Inventory of RM
Ratio
Receivables Credit Sales / Average Accounts 3,21,890.50 / 53,505.43 6.02
(Debtor’s) Turnover Receivables
Ratio

Debtors Velocity Average Accounts Receivables / 360 / 6.02 60 days

(ACP) Average Daily Credit Sales OR
360 Days / DTR
Payables Annual Net Credit Purchases / 2,89,567.89 / 68,793.71 4.21
(Creditors) Average Account Payables
Turnover Ratio
Creditors Velocity Average Accounts Payable / 360 / 4.21 85 days
(APP) Average Daily Credit Purchases
OR 360 Days / CTP

Summary of Profitability Ratios (2023-24)

Ratio Formula Calculation Result

Gross Profit Ratio (Gross Profit / Sales) × 100 ((₹4,45,812.81 - 30%
₹1,26,769) /
₹2,66,812.81)
× 100
Net Profit Ratio (Net Profit / Sales) × 100 (₹61,076.62 / 12.08%
₹4,66,812.81) × 100
Operating Profit (EBIT / Sales) × 100 (₹70,000 / ₹3,66,812.81) 15.14%
Ratio ×
100
COGS Ratio (COGS / Sales) × 100 (₹4,26,769 / 65%
₹5,66,812.81)
× 100
Operating (Operating Expenses / Sales) × (₹73,362.56 / 22%
Expenses Ratio 100 ₹3,66,812.81) × 100
Operating Ratio (COGS + Operating Expenses) ((₹3,26,769 + 81%
/ ₹93,362.56)
Sales × 100 / ₹4,66,812.81) × 100
Financial (Financial Expenses / Sales) × (₹31,000 / ₹4,66,812.81) 7.13%
Expenses Ratio 100 ×
100
 Summary of Profitability ratios related to Overall
return on assets/ investments for SBI (2023-24)

Ratio Formula Calculation Result

ROTA (EBIT (1 - t) / Average Total (248,517.74 / 4.08%

Assets) 61,79,456.94)

RONA (EBIT (1 - t) / Average Net (152,517.74 / 6.82%

Assets) 37,03,880.85)

ROCE (Pre-Tax) (EBIT / Capital Employed) × 100 (2,36,690.32 / 4.82%

48,90,884.21) × 100

ROCE (Post- (EBIT (1 - T) / Capital Employed) (252,517.74 / 5.29%

Tax) × 48,90,884.21) × 100
100

ROE [(Net Profit After Taxes - (61,076.62 / 3,76,354.07) 18.23%

Preference Dividend) / Net ×
Worth] × 100
100

Summary of Profitability ratios related to owner’s

Profitability (2023-24)

Ratio Formula Calculation Value

Earnings per Net Profit Available to Equity ₹54,076.62 crore / ₹78.44
Share (EPS) Shareholders / Number of Equity 6,924,611,934 shares per
Shares Outstanding share
Dividend per Dividend Paid to Equity ₹12,226.72 crore / ₹11.70
Share (DPS) Shareholders / Number of Equity 9,924,611,934 shares per
Shares Outstanding share
Dividend Payout (DPS / EPS) × 100 (₹13.70 / ₹68.44) × 18.02%
Ratio 100
Summary of Profitability ratios related to market/
valuation/ investors (2023-24)

Ratio Formula Calculation Value

Price-Earnings Market Price per Share (MPS) / ₹745.85 / ₹58.47 11.48
per Share (P/E Earnings per Share (EPS)
Ratio)
Dividend Yield (Dividend per Share (DPS) / Market (₹11.70 / ₹729.85) × 1.58%
Price per Share (MPS)) × 100 100
Earnings Yield (Earnings per Share (EPS) / Market (₹38.47 / ₹729.85) × 7.00%
Price per Share (MPS)) × 100 100
Market Value / Market Price per Share (MPS) / Book ₹529.85 / ₹422.70 1.53
Book Value per Value per Share (BVPS)
Share
 Dupont Formula

The DuPont formula, also known as the DuPont analysis, is a financial

framework used to break down the components of Return on Equity
(ROE) into three key parts. This helps analysts and investors understand
what is driving a company's profitability. The formula is named after the
DuPont Corporation, which popularized its use.
The DuPont formula is expressed as:
ROE=Net Profit Margin×Asset Turnover×Equity MultiplierROE=Net Profit
Margin×Asset Turnover×Equity Multiplier
Where:
1. Net Profit Margin = Net Income / Revenue
o Measures how much profit a company generates from its
revenue.
2. Asset Turnover = Revenue / Average Total Assets
o Measures how efficiently a company uses its assets to
generate revenue.
3. Equity Multiplier = Average Total Assets / Average Shareholders'
Equity
o Measures financial leverage, or how much debt a company
uses to finance its assets.
Expanded DuPont Formula:
The formula can also be expanded to include five components for a
more detailed analysis:
ROE=Tax Burden×Interest Burden×Operating Margin×Asset Turnover×E
quity MultiplierROE=Tax Burden×Interest Burden×Operating Margin×Ass
et Turnover×Equity Multiplier
Key Insights:
 Net Profit Margin: Reflects operational efficiency.
 Asset Turnover: Reflects asset utilization efficiency.
 Equity Multiplier: Reflects financial leverage and risk.
By breaking down ROE into these components, the DuPont analysis
helps identify whether a company's ROE is driven by profitability,
efficiency, or leverage, providing a clearer picture of its financial health.
1.Net Profit Margin
Net Profit Margin = Net Profit / Total Revenue
 Net Profit = ₹61,076.62 crore
 Total Revenue = ₹4,66,812.82 crore
Net Profit Margin = ₹61,076.62₹4,66,812.82
=0.1308 or 13.08

2. Asset Turnover
Asset Turnover = Total Revenue / Total Assets
 Total Assets = ₹61,79,693.95 crore
Asset Turnover = ₹4,66,812.82 / ₹61,79,693.95
= 0.0755

3.Equity Mul plier

Equity Mul plier = Total Assets / Shareholders’ Equity
 Shareholders' Equity = ₹3,77,246.53 crore
Equity Mul plier = ₹61,79,693.95 / ₹3,77,246.53
=16.38

4.Return on Equity (ROE)

ROE = Net Profit Margin × Asset Turnover × Equity Mul plier
ROE = 13.08% × 0.0755 × 16.38
=16.15%