Overview

Detailed Summary

SBI Cards and Payment Services Limited is engaged in issuing credit cards and acts as a corporate insurance agent for selling policies to card customers.
During the latest quarter, SBI Cards remained the second largest credit card issuer in India, boasting an 18.8% market share in cards in force.
SBI Cards witnessed a substantial growth in corporate spend by 329% YOY, highlighting the strategic focus on maximizing spend across high-value segments.
Recent strategic partnerships with firms like Amazon and Apple signify SBI Cards' ongoing efforts to enhance consumer engagement and drive increased spend.
SBI Cards achieved remarkable credit performance, with PAT rising 45% YOY and a stable asset quality reflected in lowered GNPA and improved slippage ratios.

Sector: Finance
Industry: NBFC-Others
Market Cap: 69,110 Cr
Volatility: Moderate Risk
P/E Ratio: 33.1
Industry P/E: 27.5
PEG Ratio: 1.4
P/B Ratio: 4.7
52W High: 1,023.05
52W Low: 717.65

Sales CAGR

1Y: 6.41%
3Y: 19.17%
5Y: 14.27%
10Y: 25.22%

Profit CAGR

1Y: -20.41%
3Y: 5.84%
5Y: 9.01%
10Y: 23.64%

ROE

TTM: 12.97%
3Y: 18.44%
5Y: 18.46%
10Y: 19.75%

ROCE

TTM: 8.88%
3Y: 21.84%
5Y: 21.50%
10Y: 24.50%

Technicals

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Forecasts

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Analyst Target, Price, EPS and Revenue Projections

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
SBICARD	726.25	69,110 Cr	33.06	4.67	0.34	12.97	8.88	2.99
LTF	270.90	67,822 Cr	24.20	2.57	1.01	10.24	8.04	2.21
PIRAMALFIN	1788.60	40,544 Cr	-1944.13	1.48	0.00	2.91	6.46	1.07
AIIL	430.00	36,474 Cr	10.05	2.24	0.03	24.66	18.84	18.10
POONAWALLA	425.15	34,556 Cr	97.70	3.50	0.00	2.21	5.04	0.74
TATAINVEST	625.15	31,630 Cr	115.32	0.99	0.43	1.11	1.23	1.14
IIFL	475.45	20,341 Cr	15.88	1.57	0.00	6.62	8.57	1.90

Financial Statements

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Standalone Quarterly Results (in ₹ Crores)

Total Figures

QoQ Changes

Total Figures

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Revenue	4,087	4,622	4,348	4,359	4,421	4,619	4,674	4,877	4,961	5,127
Expenses	2,760	3,258	2,811	2,867	3,173	3,372	3,320	3,439	3,742	3,785
Interest	605	695	724	767	788	829	795	813	760	785
Financing Profit	722	668	813	725	461	419	559	625	459	557
Financing Margin %	17.67	14.46	18.70	16.62	10.42	9.06	11.96	12.81	9.26	10.86
Other Income	134	120	127	124	135	148	158	158	176	226
Depreciation	47	51	52	49	50	49	-1.69	35	35	34
Profit Before Tax	809	738	888	799	545	518	719	748	600	749
Tax %	25.50	25.56	25.42	25.62	25.82	25.96	25.66	25.71	25.84	25.69
Net Profit	603	549	662	594	404	383	534	556	445	557
EPS in Rs	6.32	5.78	6.96	6.25	4.25	4.03	5.61	5.84	4.67	5.85
Gross NPA %	2.43	2.64	2.76	3.06	3.27	0.00	0.00	0.00	2.85	0.00
Net NPA %	0.89	0.96	0.99	1.11	1.19	0.00	0.00	0.00	1.29	0.00

Standalone Profit Loss (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Revenue	3,239	5,187	6,999	9,276	9,296	10,677	13,667	16,968	18,072	18,591
Expenses	2,242	3,726	4,887	6,618	7,223	7,953	9,444	11,460	12,731	13,303
Interest	522	708	1,009	1,301	1,043	1,027	1,648	2,595	3,178	3,224
Financing Profit	475	753	1,103	1,358	1,030	1,696	2,575	2,913	2,163	2,063
Financing Margin %	14.66	14.52	15.75	14.63	11.08	15.89	18.84	17.17	11.97	11.10
Other Income	125	183	288	476	417	624	619	515	565	599
Depreciation	1.04	13	55	104	123	149	164	197	147	132
Profit Before Tax	598	923	1,335	1,730	1,324	2,172	3,031	3,232	2,581	2,530
Tax %	287.65	288.92	283.99	356.76	390.24	390.66	392.51	392.25	388.50	25.77
Net Profit	390	604	865	1,245	985	1,616	2,258	2,408	1,916	1,878
EPS in Rs	—	—	—	13.75	10.25	16.85	23.60	25.25	20.13	21.97
Dividend Payout %	497.00	—	945.00	1,321.00	—	680.80	952.00	1,014.80	805.60	—

Standalone Balance Sheet (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	785	785	785	837	939	941	943	946	951	951
Reserves	370	666	1,572	2,751	4,402	5,362	6,810	8,884	11,133	12,830
Borrowings	5,928	8,207	11,304	13,549	17,365	17,895	22,982	31,110	39,891	44,947
Other Liabilities	797	1,171	1,922	3,009	2,597	2,816	3,913	4,606	6,196	6,817
Total Liabilities	7,880	10,829	15,583	20,146	25,303	27,013	34,648	45,546	58,171	65,546
Fixed Assets	2.06	3.61	140	196	311	308	439	551	542	320
CWIP	0.00	0.00	35	20	24	10	14	23	22	10
Investments	0.00	0.00	0.00	1.46	1.46	958	1,297	2,140	3,519	6,235
Other Assets	7,878	10,825	15,407	19,928	24,967	25,737	32,898	42,832	54,088	58,980
Total Assets	7,880	10,829	15,583	20,146	25,303	27,013	34,648	45,546	58,171	65,546

Standalone Cash Flows (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	-1,158	-2,197	-2,891	-2,327	-4,067	692	-4,391	-6,671	-5,452	-2,140
Cash from Investing Activity	0.65	-0.85	128	-76	-73	-997	-538	-921	-1,457	-2,491
Cash from Financing Activity	1,141	2,206	2,953	2,824	3,922	432	5,045	7,824	8,401	4,687
Net Cash Flow	-17	8.51	190	422	-218	127	115	232	1,492	55

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Promoters	69.02%	68.96%	68.94%	68.75%	68.63%	68.62%	68.61%	68.60%	68.60%	68.59%	68.59%	68.58%
FIIs	8.45%	9.48%	9.09%	9.35%	8.59%	8.73%	9.18%	9.51%	9.88%	10.22%	10.10%	10.15%
DIIs	17.47%	17.18%	17.29%	16.28%	16.69%	16.53%	16.75%	16.48%	17.22%	17.51%	17.76%	17.85%
Public	5.06%	4.38%	4.69%	5.61%	6.09%	6.12%	5.47%	5.41%	4.30%	3.68%	3.55%	3.42%
Total Shareholders	10,41,168	9,67,531	9,61,296	10,28,673	10,36,632	10,19,117	9,48,916	9,37,270	8,47,672	7,74,642	7,50,786	7,18,342

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Documents

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Concalls

Reports

Presentations

Investor Presentation

Q3 FY26

Investor Presentation

Q2 FY26

Investor Presentation

Q1 FY26

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