SBI Cards & Payment Services Ltd logo

SBI Cards & Payment Services Ltd

SBICARD NSE

SBI Cards and Payment Services Limited is a non-deposit accepting systemically important nonbanking financial company registered with the RBI. The Company is engaged in issuing credit cards to consumers in India. It is headquartered in Gurgaon, Haryana. It is a subsidiary of India’s largest commercial bank, the State Bank of India. [1][2][3]

AI Verdict: HOLD Confidence: 5%

SBI Cards trades at a PE of 27.4x with declining ROE (from 20% 10-year average to 15% last year) and a stock CAGR of -35% over the past year. While the company has a solid long-term sales growth track record of 24% over 10 years, current valuations and analyst sentiment (40% sell ratings) suggest limited near-term upside.

Key Fundamentals

MidcapNBFCFinancial Services
Market Cap
₹59,351 Cr
Volatility
Moderate
P/E Ratio
27.45
EBITDA
₹5,313 Cr
Return on Equity
19.93%
Debt to Equity
3.28
Book Value
₹165.25
EPS
₹25.33
52W High
₹1,015
52W Low
₹565.45

Technical Indicators

Key Insights

Weaknesses

3
  • Stock is trading at 3.68 times its book value
  • Company has low interest coverage ratio.
  • Dividend payout has been low at 11.1% of profits over last 3 years

Growth Rate

Revenue Growth
6.77% ↗
Net Income Growth
12.78% ↗
Cash Flow Change
62.14% ↗
ROE
-30.21% ↘
ROCE
-13.44% ↘
EBITDA Margin (Avg.)
-19.03% ↘

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 3d ago
HOLD
Risk high

SBI Cards trades at a PE of 27.4x with declining ROE (from 20% 10-year average to 15% last year) and a stock CAGR of -35% over the past year. While the company has a solid long-term sales growth track record of 24% over 10 years, current valuations and analyst sentiment (40% sell ratings) suggest limited near-term upside.

Bull Case 7
  • Long-term compounded sales growth of 24% over 10 years demonstrates strong revenue scalability in India's underpenetrated credit card market
  • 5-year compounded profit growth of 17% shows the business model can convert revenue growth into bottom-line expansion over full cycles
  • TTM profit growth of 13% indicates earnings recovery is underway after a period of margin pressure
  • 5-year ROE average of 19% reflects a structurally high-return business supported by SBI's vast distribution network
  • Market cap of Rs 58,751 Cr provides sufficient liquidity and index inclusion benefits for institutional investors
  • TTM sales growth of 10% continues to outpace broader NBFC sector averages despite a tougher regulatory environment
  • 10-year ROE of 20% demonstrates the company's ability to consistently generate returns well above cost of equity through credit cycles
Bear Case 8
  • Stock has delivered -35% returns over 1 year, significantly destroying shareholder value and indicating broken momentum
  • 3-year compounded profit growth of -1% shows earnings stagnation despite continued revenue growth, pointing to margin compression
  • 40% of analysts rate the stock a Sell versus only 36% Buy, reflecting negative consensus sentiment
  • Trading at 3.78x price-to-book is expensive for a business where ROE has declined to 15% last year, implying stretched valuations
  • ROE declining from 20% (10-year) to 17% (3-year) to 15% (last year) shows a clear deteriorating trend in capital efficiency
  • Dividend payout of just 11.1% over 3 years offers minimal income support while shareholders bear valuation risk
  • Low interest coverage ratio flagged as a concern suggests rising cost of borrowings is pressuring profitability
  • 3-year stock CAGR of -11% indicates the market has been de-rating the stock persistently, not just a one-year blip

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

AI News Digest

Anthropic anthropic claude-opus-4.6 14h ago
Neutral 5
  • ₹29.20 Cr block trade on NSE Jun 17

    Approximately 467,632 shares traded at ₹624.40 per share in a single block trade worth ₹29.20 crores, indicating institutional-level activity.

  • Multiple investor meets in June Jun 24

    SBI Cards held meetings with LIC, Tata MF, Nippon MF, ICICI Prudential MF, Karma Capital, and organized virtual sessions with Goldman Sachs and Citi Financials between May 26 and Jun 25.

  • New COO Saurav Ghosh appointed May 30

    Saurav Ghosh appointed as COO for two years effective June 21, 2026, replacing Ashutosh Kumar Sharma.

  • New Head-Internal Audit appointed Jun 22

    Chander Kant appointed as EVP & Head-Internal Audit for 3 years from July 1, 2026, succeeding Ved Prakash.

  • No encumbrance on SBI Cards shares Jun 6

    SBI confirmed zero encumbrance on its SBI Cards shareholding for FY26 under SEBI listing regulations.

TL;DR: SBI Cards news flow over the past month is entirely operational and governance-related, with no material positive catalysts or emerging risks. The company is actively engaging institutional investors through multiple meetings and has made orderly leadership transitions at COO and Internal Audit levels. The ₹29.20 Cr block trade suggests steady institutional interest. With no headwinds surfacing, the near-term outlook appears stable but lacks fresh growth triggers.

Quarterly Results

  Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Revenue
3,762
3,912
4,087
4,622
4,348
4,359
4,421
4,619
4,674
4,877
4,961
5,127
4,934
Expenses
2,565
2,631
2,760
3,258
2,811
2,867
3,173
3,372
3,320
3,439
3,742
3,785
3,625
Financing Profit
690
710
722
668
813
725
461
419
559
625
459
557
596
Fin. Margin %
18%
18%
18%
14%
19%
17%
10%
9%
12%
13%
9%
11%
12%
Other Income
154
134
134
120
127
124
135
148
158
158
176
226
253
Interest
507
571
605
695
724
767
788
829
795
813
760
785
714
Depreciation
45
48
47
51
52
49
50
49
-2
35
35
34
32
PBT
800
797
809
738
888
799
545
518
719
748
600
749
816
Tax %
25%
26%
26%
26%
25%
26%
26%
26%
26%
26%
26%
26%
25%
Net Profit
596
593
603
549
662
594
404
383
534
556
445
557
609
EPS in Rs
6.3
6.27
6.37
5.78
6.97
6.25
4.25
4.03
5.61
5.84
4.67
5.85
6.4
Gross NPA %
2.35%
2.41%
2.43%
2.64%
2.76%
3.06%
3.27%
3.24%
3.08%
3.07%
2.85%
2.86%
2.41%
Net NPA %
0.87%
0.89%
0.89%
0.96%
0.99%
1.11%
1.19%
1.18%
1.46%
1.42%
1.29%
1.28%
1.04%
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Revenue
1,822
2,392
3,347
5,195
7,017
9,281
9,301
10,679
13,670
16,986
18,074
19,900
Expenses
1,255
1,617
2,366
3,715
4,887
6,618
7,223
7,953
9,444
11,460
12,731
14,587
Financing Profit
189
339
452
769
1,121
1,362
1,034
1,699
2,579
2,931
2,164
2,241
Fin. Margin %
10%
14%
14%
15%
16%
15%
11%
16%
19%
17%
12%
11%
Other Income
82
100
124
175
270
471
413
622
615
498
563
808
Interest
378
436
528
712
1,009
1,301
1,043
1,027
1,648
2,595
3,178
3,072
Depreciation
1
1
5
24
55
104
123
149
164
197
147
136
PBT
271
438
572
919
1,335
1,730
1,324
2,172
3,031
3,232
2,581
2,913
Tax %
1%
35%
35%
35%
35%
28%
26%
26%
25%
25%
26%
26%
Net Profit
267
284
373
601
865
1,245
985
1,616
2,258
2,408
1,916
2,167
EPS in Rs
3.4
3.62
4.75
7.66
10.33
13.26
10.47
17.14
23.87
25.32
20.14
22.77
Div. Payout %
15%
28%
21%
0%
10%
8%
0%
15%
10%
10%
12%
11%
Figures in ₹ Crores

Balance Sheet

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
785
785
785
785
837
939
941
943
946
951
951
952
Reserves
181
370
664
1,568
2,751
4,402
5,362
6,810
8,884
11,133
12,830
14,774
Borrowing
4,699
5,928
8,268
11,413
13,549
17,573
17,895
22,982
31,110
39,891
44,947
44,064
Other Liabilities
593
797
1,048
1,920
3,009
2,393
2,816
3,913
4,606
6,196
6,817
6,539
Total Liabilities
6,257
7,880
10,765
15,686
20,146
25,307
27,013
34,648
45,546
58,171
65,546
66,328
Fixed Assets
2
2
24
242
196
311
308
439
551
542
320
231
CWIP
0
0
0
35
20
24
10
14
23
22
10
0
Investments
0
0
0
0
1
1
958
1,297
2,140
3,519
6,235
6,374
Other Assets
6,256
7,878
10,741
15,409
19,928
24,971
25,737
32,898
42,832
54,088
58,980
59,723
Total Assets
6,257
7,880
10,765
15,686
20,146
25,307
27,013
34,648
45,546
58,171
65,546
66,328
Figures in ₹ Crores

Cash Flow

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
-879
-1,158
-2,235
-2,891
-2,327
-4,063
692
-4,391
-6,671
-5,653
-2,140
493
Investing
1
1
-1
128
-76
-77
-997
-538
-921
-1,255
-2,491
245
Financing
1,008
1,141
2,244
2,953
2,824
3,923
432
5,045
7,824
8,401
4,687
-1,172
Net Cash Flow
130
-17
9
190
422
-218
127
115
232
1,492
55
-434
Free Cash Flow
-879
-1,158
-2,236
-2,931
-2,423
-4,141
635
-4,491
-6,764
-5,728
-2,196
459
CFO/OP
-142
-138
-193
-178
-87
-127
57
-147
-140
-85
-26
24
Figures in ₹ Crores

Ratios

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROE %
31%
27%
29%
32%
29%
28%
17%
23%
26%
22%
15%
15%

Shareholding Pattern

As of Mar 2026
Promoters 68.92%
DIIs 18.12%
FIIs 9.54%
Public 2.88%
Others 0.54%
Total 100.00%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters
69.40%
69.50%
69.37%
69.47%
69.59%
69.64%
69.41%
69.05%
69.02%
68.96%
68.94%
68.75%
68.63%
68.62%
68.61%
68.60%
68.60%
68.59%
68.59%
68.58%
68.92%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
9.09%
9.35%
8.59%
8.73%
9.18%
9.51%
9.88%
10.22%
10.10%
10.15%
9.54%
DIIs
5.49%
6.33%
9.29%
11.51%
12.02%
15.77%
17.04%
16.72%
17.47%
17.18%
17.29%
16.28%
16.69%
16.53%
16.75%
16.48%
17.22%
17.51%
17.76%
17.85%
18.12%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
3.65%
4.09%
3.80%
4.51%
4.66%
4.97%
4.11%
4.44%
4.38%
3.75%
4.10%
5.02%
5.28%
5.45%
4.80%
4.78%
3.81%
3.24%
3.10%
2.96%
2.88%
Others
21.46%
20.08%
17.55%
14.50%
13.73%
9.62%
9.44%
9.79%
9.13%
10.11%
0.59%
0.60%
0.81%
0.67%
0.66%
0.63%
0.49%
0.44%
0.46%
0.46%
0.54%
No. of Shareholders
0
10,57,520
11,18,650
10,46,250
11,40,590
11,61,090
11,78,350
10,63,050
10,41,170
9,67,531
9,61,296
10,28,670
10,36,630
10,19,120
9,48,916
9,37,270
8,47,672
7,74,642
7,50,786
7,18,342
7,05,597

Documents

1
Concall - Jul 2020 Jul 2020
2
Concall - Jul 2020 Jul 2020
3
Concall - Oct 2020 Oct 2020
4
Concall - Oct 2020 Oct 2020
5
Concall - Jan 2021 Jan 2021

Frequently Asked Questions about SBI Cards & Payment Services Ltd

What does SBI Cards & Payment Services Ltd do?
SBI Cards and Payment Services Limited is a non-deposit accepting systemically important nonbanking financial company registered with the RBI. The Company is engaged in issuing credit cards to consumers in India. It is headquartered in Gurgaon, Haryana. It is a subsidiary of India’s largest comme...
Where is SBI Cards & Payment Services Ltd (SBICARD) listed?
SBI Cards & Payment Services Ltd is listed on the Indian stock exchanges. It is listed on NSE: SBICARD and BSE: 543066. You can view its live share price, financials, and ratios on Tapetide.
Which sector does SBI Cards & Payment Services Ltd belong to?
SBI Cards & Payment Services Ltd operates in the Financial Services sector within the Finance industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of SBI Cards & Payment Services Ltd?
SBI Cards & Payment Services Ltd has a market capitalisation of approximately ₹59350.96 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of SBI Cards & Payment Services Ltd?
The Price-to-Earnings (PE) ratio of SBI Cards & Payment Services Ltd is 27.45. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of SBI Cards & Payment Services Ltd?
Over the past 52 weeks, SBI Cards & Payment Services Ltd has traded between a low of ₹565.45 and a high of ₹1,015. This range helps investors understand the stock's price volatility and recent trading levels.
Does SBI Cards & Payment Services Ltd pay dividends?
Yes, SBI Cards & Payment Services Ltd has a dividend yield of 0.41%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of SBI Cards & Payment Services Ltd?
SBI Cards & Payment Services Ltd has a Return on Equity (ROE) of 19.93%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research SBI Cards & Payment Services Ltd on Tapetide?
On Tapetide, you can view SBI Cards & Payment Services Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

SBI Cards and Payment Services Limited is a non-deposit accepting systemically important nonbanking financial company registered with the RBI. The Company is engaged in issuing credit cards to consumers in India. It is headquartered in Gurgaon, Haryana. It is a subsidiary of India’s largest commercial bank, the State Bank of India. [1][2][3]

Website sbicard.com
Listed 2020-03-16
Face Value ₹ 10
Issued Size 95,15,77,400

Explore More

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