SBI Cards & Payment Services Ltd

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

SBI Cards & Payment Services Ltd

₹ 675 -1.39%
21 Nov - close price
sbicard.com BSE: 543066 NSE: SBICARD
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
  • Market Cap ₹ 64,302 Cr.
  • Current Price ₹ 675
  • High / Low ₹ 817 / 648
  • Stock P/E 29.1
  • Book Value ₹ 138
  • Dividend Yield 0.37 %
  • ROCE 12.5 %
  • ROE 22.0 %
  • Face Value ₹ 10.0
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Pros

  • Company has delivered good profit growth of 22.7% CAGR over last 5 years

Cons

  • Stock is trading at 4.91 times its book value
  • Company has low interest coverage ratio.
  • Company might be capitalizing the interest cost

* 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

Sector: Finance Industry: Finance & Investments

Part of BSE Diversified Financials Revenue Growth Index (I Nifty LargeMidcap 250 Nifty100 ESG Nifty 200 Nifty Financial Services

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Quarterly Results

Figures in Rs. Crores

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
Revenue 2,576 2,889 2,850 3,100 3,297 3,507 3,762 3,912 4,087 4,622 4,348 4,359 4,421
Interest 254 277 267 308 368 464 507 571 605 695 724 767 788
1,938 2,307 1,930 2,074 2,341 2,467 2,565 2,631 2,760 3,258 2,811 2,867 3,173
Financing Profit 385 305 653 718 588 576 690 710 722 668 813 725 461
Financing Margin % 15% 11% 23% 23% 18% 16% 18% 18% 18% 14% 19% 17% 10%
119 250 166 163 156 149 154 134 134 120 127 124 135
Depreciation 40 37 39 39 39 41 45 48 47 51 52 49 50
Profit before tax 464 519 779 841 706 684 800 797 809 738 888 799 545
Tax % 26% 26% 25% 25% 26% 26% 25% 26% 26% 26% 25% 26% 26%
345 386 581 627 526 509 596 593 603 549 662 594 404
EPS in Rs 3.66 4.09 6.16 6.65 5.57 5.39 6.30 6.27 6.37 5.78 6.97 6.25 4.25
Gross NPA % 3.36% 2.40% 2.22% 2.24% 2.14% 2.22% 2.35% 2.41% 2.43% 2.64% 2.76% 3.06% 3.27%
Net NPA % 0.91% 0.83% 0.78% 0.79% 0.78% 0.80% 0.87% 0.89% 0.89% 0.96% 0.99% 1.11% 1.19%
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
Revenue 1,008 1,438 1,822 2,392 3,347 5,195 7,017 9,281 9,301 10,679 13,670 16,986 17,749
Interest 210 300 378 436 528 712 1,009 1,301 1,043 1,027 1,648 2,595 2,974
713 918 1,255 1,617 2,366 3,715 4,887 6,618 7,223 7,953 9,444 11,460 12,108
Financing Profit 85 220 189 339 452 769 1,121 1,362 1,034 1,699 2,579 2,931 2,667
Financing Margin % 8% 15% 10% 14% 14% 15% 16% 15% 11% 16% 19% 17% 15%
52 74 82 100 124 175 270 471 413 622 615 498 505
Depreciation 1 1 1 1 5 24 55 104 123 149 164 197 202
Profit before tax 136 293 271 438 572 919 1,335 1,730 1,324 2,172 3,031 3,232 2,970
Tax % -1% 0% 1% 35% 35% 35% 35% 28% 26% 26% 25% 25%
136 293 267 284 373 601 865 1,245 985 1,616 2,258 2,408 2,210
EPS in Rs 1.74 3.73 3.40 3.62 4.75 7.66 10.33 13.26 10.47 17.14 23.87 25.32 23.25
Dividend Payout % 0% 0% 15% 28% 21% 0% 10% 8% 0% 15% 10% 10%
Compounded Sales Growth
10 Years: 28%
5 Years: 19%
3 Years: 22%
TTM: 16%
Compounded Profit Growth
10 Years: 23%
5 Years: 23%
3 Years: 35%
TTM: -4%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: -12%
1 Year: -8%
Return on Equity
10 Years: 24%
5 Years: 23%
3 Years: 23%
Last Year: 22%

Balance Sheet

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
Equity Capital 785 785 785 785 785 785 837 939 941 943 946 951 951
Reserves -332 -39 181 370 664 1,568 2,751 4,402 5,362 6,810 8,884 11,133 12,138
2,803 3,498 4,699 5,928 8,268 11,413 13,549 17,573 17,895 22,982 31,110 39,891 43,218
231 491 593 797 1,048 1,920 3,009 2,393 2,816 3,913 4,606 6,196 5,565
Total Liabilities 3,488 4,735 6,257 7,880 10,765 15,686 20,146 25,307 27,013 34,648 45,546 58,171 61,872
1 1 2 2 24 242 196 311 308 439 551 542 524
CWIP 0 0 0 0 0 35 20 24 10 14 23 22 7
Investments 0 0 0 0 0 0 1 1 958 1,297 2,140 3,519 3,658
3,487 4,734 6,256 7,878 10,741 15,409 19,928 24,971 25,737 32,898 42,832 54,088 57,683
Total Assets 3,488 4,735 6,257 7,880 10,765 15,686 20,146 25,307 27,013 34,648 45,546 58,171 61,872

Cash Flows

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
-398 -879 -1,158 -2,235 -2,891 -2,327 -4,063 692 -4,391 -6,671 -5,452
1 1 1 -1 128 -76 -77 -997 -538 -921 -1,457
475 1,008 1,141 2,244 2,953 2,824 3,923 432 5,045 7,824 8,401
Net Cash Flow 78 130 -17 9 190 422 -218 127 115 232 1,492

Ratios

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
ROE % 49% 31% 27% 29% 32% 29% 28% 17% 23% 26% 22%

Shareholding Pattern

Numbers in percentages

Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
69.47% 69.59% 69.64% 69.41% 69.05% 69.02% 68.96% 68.94% 68.75% 68.63% 68.62% 68.61%
10.28% 9.53% 8.29% 8.82% 9.13% 8.45% 9.48% 9.08% 9.35% 8.59% 8.72% 9.18%
11.92% 12.41% 16.24% 16.99% 16.72% 17.47% 17.17% 17.28% 16.27% 16.68% 16.54% 16.76%
8.33% 8.47% 5.83% 4.78% 5.11% 5.06% 4.37% 4.69% 5.62% 6.09% 6.11% 5.46%
No. of Shareholders 11,40,58611,61,09011,78,35310,63,05410,57,26010,41,1689,67,5319,61,29610,28,67310,36,63210,19,1179,48,916

* 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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Documents

Announcements

Annual reports

DRHP

Credit ratings

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