SBI Cards & Payment Services Ltd

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SBI Cards Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents
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SBI Cards & Payment Services Ltd

₹ 578 -0.51%
30 Sep - close price
sbicard.com BSE: 543066 NSE: SBICARD F&O
About

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]

Key Points

History
SBI Card was launched in 1998 by the State Bank of India and GE Capital. In December 2017, State Bank of India and The Carlyle Group acquired GE Capital`s stake in SBI Card.In March 2020, SBI Card became the first pure play credit card company to list on the stock exchanges in India. [1]

Website BSE NSE F&O
  • Market Cap ₹ 55,010 Cr.
  • Current Price ₹ 578
  • High / Low ₹ 965 / 565
  • Stock P/E 24.2
  • Book Value ₹ 165
  • Dividend Yield 0.43 %
  • ROCE 10.1 %
  • ROE 14.7 %
  • Face Value ₹ 10.0
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Pros

Cons

  • Stock is trading at 3.50 times its book value
  • Dividend payout has been low at 11.1% of profits over last 3 years

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Financial Services Financial Services Finance Non Banking Financial Company (NBFC)

Part of BSE 500 BSE 200 BSE Dollex 200 Nifty 500 Nifty Midcap 100

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Quarterly Results

Figures in Rs. Crores

Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
3,912 4,087 4,622 4,348 4,359 4,421 4,619 4,674 4,877 4,961 5,127 4,934 5,041
Interest 571 605 695 724 767 788 829 795 813 760 785 714 745
2,631 2,760 3,258 2,811 2,867 3,173 3,372 3,320 3,439 3,742 3,785 3,625 3,537
Financing Profit 710 722 668 813 725 461 419 559 625 459 557 596 759
Financing Margin % 18% 18% 14% 19% 17% 10% 9% 12% 13% 9% 11% 12% 15%
134 134 120 127 124 135 148 158 158 176 226 253 165
Depreciation 48 47 51 52 49 50 49 -2 35 35 34 32 31
Profit before tax 797 809 738 888 799 545 518 719 748 600 749 816 893
Tax % 26% 26% 26% 25% 26% 26% 26% 26% 26% 26% 26% 25% 26%
593 603 549 662 594 404 383 534 556 445 557 609 664
EPS in Rs 6.27 6.37 5.78 6.97 6.25 4.25 4.03 5.61 5.84 4.67 5.85 6.40 6.98
Gross NPA % 2.41% 2.43% 2.64% 2.76% 3.06% 3.27% 3.24% 3.08% 3.07% 2.85% 2.86% 2.41% 2.04%
Net NPA % 0.89% 0.89% 0.96% 0.99% 1.11% 1.19% 1.18% 1.46% 1.42% 1.29% 1.28% 1.04% 0.83%
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
1,822 2,392 3,347 5,195 7,017 9,281 9,301 10,679 13,670 16,986 18,074 19,901 20,063
Interest 378 436 528 712 1,009 1,301 1,043 1,027 1,648 2,595 3,178 3,072 3,003
1,255 1,617 2,366 3,715 4,887 6,618 7,223 7,953 9,444 11,460 12,731 14,587 14,689
Financing Profit 189 339 452 769 1,121 1,362 1,034 1,699 2,579 2,931 2,164 2,243 2,371
Financing Margin % 10% 14% 14% 15% 16% 15% 11% 16% 19% 17% 12% 11% 12%
82 100 124 175 270 471 413 622 615 498 563 806 819
Depreciation 1 1 5 24 55 104 123 149 164 197 147 136 132
Profit before tax 271 438 572 919 1,335 1,730 1,324 2,172 3,031 3,232 2,581 2,913 3,058
Tax % 1% 35% 35% 35% 35% 28% 26% 26% 25% 25% 26% 26%
267 284 373 601 865 1,245 985 1,616 2,258 2,408 1,916 2,167 2,275
EPS in Rs 3.40 3.62 4.75 7.66 10.33 13.26 10.47 17.14 23.87 25.32 20.14 22.77 23.90
Dividend Payout % 15% 28% 21% 0% 10% 8% 0% 15% 10% 10% 12% 11%
Compounded Sales Growth
10 Years: 24%
5 Years: 16%
3 Years: 13%
TTM: 8%
Compounded Profit Growth
10 Years: 23%
5 Years: 17%
3 Years: -1%
TTM: 21%
Stock Price CAGR
10 Years: %
5 Years: -11%
3 Years: -10%
1 Year: -34%
Return on Equity
10 Years: 20%
5 Years: 19%
3 Years: 17%
Last Year: 15%

Balance Sheet

Figures in Rs. Crores

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 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
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
2 2 24 242 196 311 308 439 551 542 320 219
CWIP 0 0 0 35 20 24 10 14 23 22 10 12
Investments 0 0 0 0 1 1 958 1,297 2,140 3,519 6,235 6,374
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

Cash Flows

Figures in Rs. Crores

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
-879 -1,158 -2,235 -2,891 -2,327 -4,063 692 -4,391 -6,671 -5,653 -2,140 493
1 1 -1 128 -76 -77 -997 -538 -921 -1,255 -2,491 245
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%

Ratios

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

Insights

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Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
30-day Retail Spend Active Rate
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Cards-in-force
Crore
Market Share - Cards-in-Force
%
Market Share - Spends
%
New Accounts
Lakhs
Online Spends Share
%
Total Spends
₹ Crore

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Shareholding Pattern

Numbers in percentages

3 Recently
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
68.94% 68.75% 68.63% 68.62% 68.61% 68.60% 68.60% 68.59% 68.59% 68.58% 68.92% 68.86%
9.08% 9.35% 8.59% 8.72% 9.18% 9.52% 9.88% 10.23% 10.10% 10.14% 9.54% 8.98%
17.28% 16.27% 16.68% 16.54% 16.76% 16.47% 17.22% 17.50% 17.76% 17.84% 18.12% 18.13%
4.69% 5.62% 6.09% 6.11% 5.46% 5.41% 4.30% 3.68% 3.56% 3.42% 3.42% 4.02%
No. of Shareholders 9,61,29610,28,67310,36,63210,19,1179,48,9169,37,2708,47,6727,74,6427,50,7867,18,3427,05,5977,29,862

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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