SBI Cards & Payment Services Ltd (SBICARD) AI Stock Analysis

• Market Cap: ₹881.42B
• Dividend Yield: 0.27%
• Average Volume (3M): 37.05K
• Price to Earnings (P/E): 46.9
• Beta (1Y): 0.63
• Revenue Growth: 7.08%
• EPS Growth: -22.19%
• Country: IN
• Employees: 3,829
• Sector: Financial
• Sector Strength: 70
• Industry: Financial - Credit Services
• EPS (TTM): 5.84
• Shares Outstanding: 951,547,500
• 10 Day Avg. Volume: 38,181
• 30 Day Avg. Volume: 37,050
• PEG Ratio: -2.07
• Price to Book (P/B): 5.95
• Price to Sales (P/S): 4.56
• P/FCF Ratio: -37.35
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹867.67
• Price Target Upside: -6.33% Downside
• Rating Consensus: Moderate Sell
• Number of Analyst Covering: 6

• Rating: 59 Neutral
• Price Target: ₹856.00 ▼(-7.59% Downside)

SBI Cards & Payment Services Ltd's overall stock score is primarily influenced by its strong revenue growth and profitability, despite high debt levels and negative cash flows. The technical indicators suggest a bearish trend, and the valuation metrics indicate the stock may be overvalued. These factors combined result in a moderate overall score.

SBI Cards & Payment Services Ltd Business Overview & Revenue Model

Company Description

SBI Cards and Payment Services Limited, a non-banking financial company, issues credit cards to individual and corporate customers in India. The company also acts as corporate insurance agent for selling insurance policies to credit card customers. It offers corporate cards, central travel cards, utility cards, and corporate purchase and virtual cards. The company was incorporated in 1998 and is based in Gurugram, India. SBI Cards and Payment Services Limited is a subsidiary of State Bank of India.

How the Company Makes Money

SBICARD primarily generates revenue through interest income on credit card balances, fees and commissions from cardholders and merchants, and annual subscription fees for its credit cards. The company benefits from the interest charged on outstanding credit card balances and late payment fees. Additionally, SBICARD earns interchange fees from merchants for processing card transactions. Collaborations with retail partners for co-branded cards and special offers also contribute to its earnings. Furthermore, SBICARD engages in marketing agreements and partnerships with various businesses, enhancing its product offerings and customer base, which in turn drives revenue growth.

SBI Cards & Payment Services Ltd Financial Statement Overview

Summary

SBI Cards & Payment Services Ltd shows strong revenue growth and profitability on the income statement with a robust gross profit margin. However, the company faces challenges with high debt levels and negative cash flows, which impact financial stability.

Income Statement

SBI Cards & Payment Services Ltd has demonstrated robust revenue growth with a significant increase from ₹73,235.75 crore in 2020 to ₹186,371.5 crore in 2025. The gross profit margin is strong at 78.8% for 2025, indicating effective cost management. However, the net profit margin has decreased from previous years, currently at 10.3% for 2025, which suggests increased expenses or operational challenges affecting net income.

Balance Sheet

The company's debt-to-equity ratio suggests a high reliance on debt financing, with the ratio increasing over the years. The equity ratio is at 21% for 2025, indicating moderate financial leverage. Return on equity (ROE) has improved, reaching 13.9% in 2025, reflecting better utilization of shareholders' equity to generate profit.

Cash Flow

The cash flow statements reveal negative free cash flow for several years, with a slight improvement in operating cash flow in recent periods. The operating cash flow to net income ratio is negative, indicating cash flow challenges potentially due to high capital expenditures or financing needs. Despite improvements, cash flow management remains an area requiring attention.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	169.91B	180.04B	169.75B	98.68B	106.86B	92.38B
Gross Profit	139.84B	148.26B	110.93B	98.68B	73.96B	77.28B
EBITDA	45.53B	75.99B	60.62B	48.80B	32.77B	24.48B
Net Income	18.78B	19.16B	24.08B	22.58B	16.16B	9.85B
Balance Sheet
Total Assets	660.09B	655.46B	581.71B	455.46B	346.48B	270.13B
Cash, Cash Equivalents and Short-Term Investments	22.66B	27.38B	27.30B	9.90B	7.58B	6.72B
Total Debt	461.80B	449.47B	403.15B	315.31B	232.85B	181.92B
Total Liabilities	516.67B	517.64B	460.87B	357.15B	268.96B	207.11B
Stockholders Equity	143.42B	137.82B	120.84B	98.30B	77.53B	63.02B
Cash Flow
Free Cash Flow	0.00	-21.96B	-55.26B	-67.64B	-44.91B	6.35B
Operating Cash Flow	0.00	-21.40B	-54.52B	-66.71B	-43.91B	6.92B
Investing Cash Flow	0.00	-24.91B	-14.57B	-9.21B	-5.38B	-9.97B
Financing Cash Flow	0.00	46.87B	84.01B	78.24B	50.45B	4.32B

SBI Cards & Payment Services Ltd Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 926.30
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:SBICARD, the sentiment is Positive. The current price of 926.3 is above the 20-day moving average (MA) of 898.12, above the 50-day MA of 851.90, and above the 200-day MA of 858.71, indicating a bullish trend. The MACD of 20.49 indicates Negative momentum. The RSI at 65.43 is Neutral, neither overbought nor oversold. The STOCH value of 80.09 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:SBICARD.

SBI Cards & Payment Services Ltd Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
BAJFINANCE	64 Neutral	₹6.63T	37.89	―	0.52%	24.87%	15.62%
CDSL	61 Neutral	₹338.64B	68.44	―	0.78%	18.35%	3.14%
SBICARD	59 Neutral	₹881.42B	46.93	―	0.27%	7.08%	-22.19%
LICHSGFIN	53 Neutral	₹312.52B	5.68	―	1.76%	4.57%	15.87%
CHOLAHLDNG	49 Neutral	₹354.64B	16.09	―	0.07%	25.37%	13.05%

SBI Cards & Payment Services Ltd Corporate Events

SBI Cards Achieves Strong ESG Rating from Crisil

SBI Cards and Payment Services Ltd has received a ‘Crisil ESG 65’ rating, categorized as ‘Strong’, from Crisil ESG Ratings & Analytics Ltd for its Environmental, Social, and Governance (ESG) performance based on fiscal 2025 data. This rating reflects the company’s commitment to sustainable practices and may enhance its reputation among stakeholders, potentially impacting its market positioning positively.

SBI Cards Holds 27th AGM, Approves Key Resolutions

SBI Cards and Payment Services Ltd held its 27th Annual General Meeting on August 29, 2025, through video conferencing, complying with relevant regulations. Key resolutions included the adoption of financial statements, remuneration for auditors, confirmation of interim dividend, and approval of related party transactions and borrowing authorizations, all of which were voted on through remote e-voting.

SBI Cards Successfully Concludes 27th AGM with All Resolutions Passed

SBI Cards and Payment Services Ltd successfully conducted its 27th Annual General Meeting on August 29, 2025, via video conferencing. All resolutions were passed with the requisite majority, as confirmed by the scrutinizer’s report. This successful meeting underscores the company’s strong governance practices and shareholder engagement, potentially reinforcing its position in the financial services sector.

SBI Cards Secures Shareholder Approval for New Secretarial Auditors

SBI Cards and Payment Services Ltd announced that its shareholders have approved the appointment of M/s Agarwal S. & Associates as the Secretarial Auditors for a five-year term starting from the fiscal year 2025-26. This strategic move, confirmed at the company’s 27th Annual General Meeting, is expected to strengthen the company’s compliance and governance framework, potentially impacting its operational efficiency and stakeholder confidence.

SBI Cards Announces Addendum to AGM Notice

SBI Cards and Payment Services Limited announced an addendum to the notice of its 27th Annual General Meeting, which is scheduled to be held on August 29, 2025, through video conferencing. This announcement underscores the company’s commitment to maintaining transparency and compliance with regulatory requirements, as it continues to engage with its shareholders and stakeholders effectively.