The SBI chief, however, said that it would impact the margin of power plants. So, to that extent whatever is the margin that will determine what will be the status of that account, she said.
State Bank of India today said it has exposure of about Rs 4,100 crore to companies that will be impacted by the Supreme Court order quashing 214 coal blocks . SBI Chairperson Arundhati Bhattacharya, however, added that loans extended to the power plants would not become NPA as the government had indicated that it would make some arrangement to provide coal linkage despite cancellation of mines.
"These are units where power units are getting set up. They were supposed to mine the coal thereafter use it for generation of power instead of that they will have to get coal from somewhere else," she said. "These companies have exposure around Rs 4,130 crore.
There is nothing to be unduly worried about it. The (Coal) Ministry has indicated that they will make some arrangement for giving linkages from elsewhere and also thereafter they will go for rebidding or re-auction for mines," she said.
The SBI chief, however, said that it would impact the margin of power plants. So, to that extent whatever is the margin that will determine what will be the status of that account, she said. Emphasising that cancellation of 122 telecom licences in 2012 did not lead to huge amount of NPA, she said in this case also there will be takers and chances of assets turning bad is minimal.
Talking about stock spilt, she said, it is to ensure that volume goes up and retail investors are able to buy stocks. "We were seeing falling of retail investors," she added. Yesterday, SBI approved sub-division of one equity share into ten.
Asked about expectation from the forthcoming monetary policy review, Bhattacharya said the RBI is likely keep interest rate unchanged. The RBI is scheduled to announce bi-monthly monetary policy on September 30. Later in the day, SBI in a statement said the exposure of the bank to the affected companies by cancellation of 214 coal blocks by the Supreme Court is substantially lower. It does not apprehend any major problem or difficulty in recovery of the dues.
This statement came in the light a senior advocate appearing on behalf of Coal producers' Association submitting to the Supreme Court that the SBI may suffer a loss of up to Rs 78,263 crore which is almost 7.9 percent of its networth for the financial year 2013. Refuting this, SBI that the above figures have not been furnished by the bank.
SBI stock price
On September 24, 2014, State Bank of India closed at Rs 2378.35, down Rs 109.05, or 4.38 percent. The 52-week high of the share was Rs 2833.85 and the 52-week low was Rs 1455.95.
The company's trailing 12-month (TTM) EPS was at Rs 147.33 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 16.14. The latest book value of the company is Rs 1584.34 per share. At current value, the price-to-book value of the company is 1.50.
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