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SBI Cards & Payment Services Ltd share Price Today

Company details

679.95
696.00
678.90
933.00
6M Return -13.58%
1Y Return -4.97%
Mkt Cap.(Cr) 64,893.92
Volume 2,613,193
Div Yield 0.36%
OI
-
OI Chg %
-
Volume 2,613,193

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Incur '0' Brokerage upto ₹500
Near term pressure; gradual revival anticipated…
About The Stock

    SBI Cards is subsidiary of State Bank of India (69.2% stake) and is the second largest credit card issuer in India.

    • Market share in terms of cards issued is 18.9% and spends is 19.2%
    • High margin business with strong return ratios, +5% RoA and +20% RoE
Q4FY22

    SBI Cards & Payments reported a mixed operating performance.

    • Spends up 51% YoY but down 2% QoQ at ₹ 54134 crore
    • NII up 19% YoY & flat QoQ to ₹ 999 crore, NIMs down 80 bps QoQ to 13.2%
    • C/I ratio down 42 bps YoY to 57.4%; provision down 39% YoY to ₹ 393 crore
    • GNPA down 18 bps QoQ at 2.2%, RBI Re at 1% of net loans

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Research view on more stocks

Non-banking Financial company SBI Cards & Payments Services announced Q3FY24 results:

Financial Performance:

  • Revenue: The total revenue of the company saw a significant increase of 30% YoY, with Q3FY24 revenue being Rs 4,742 crore compared to Rs 3,656 crore in Q3FY23.
  • Profit After Tax (PAT): PAT grew by 8% YoY to Rs 549 crore in Q3FY24, up from Rs 509 crore in the same quarter of the previous year.
  • Return on Assets (ROAA): The ROAA was recorded at 4.1% in Q3FY24, witnessing a decline from 4.8% in Q3FY23.
  • Return on Equity (ROAE): ROAE stood at 19.2% in Q3FY24, a decrease from 22.0% in Q3FY23.
  • Capital Adequacy Ratio: The company maintains a capital adequacy ratio (CRAR) of 18.4% with Tier 1 capital at 16.3%.

Business Development:

  • New Accounts: The volume of new accounts was down by 33%, with 1,096K new accounts in Q3FY24 compared to 1,634K in Q3FY23.
  • Cards in Force: There was a 16% growth in cards in force, reaching 1.85 crore as of Q3FY24 from 1.59 crore as of Q3FY23.
  • Spends: Card spend increased significantly by 41%, with Rs 96,860 crore in Q3FY24 compared to Rs 68,835 crore in Q3FY23.
  • Receivables: The receivables showed a growth of 26%, rising to Rs 48,850 crore in Q3FY24 from Rs 38,626 crore in Q3FY23.
  • Market Share: Market share for card-in-force stood at 18.9% (FY23: 19.7%), while spends had a market share of 18.3% (FY23: 18.2%).

Earnings Components:

  • Interest Income: Interest income rose by 29% to Rs 2,082 crore in Q3FY24 from Rs 1,609 crore in Q3FY23.
  • Non-Interest Income: There was an increase of 34% in non-interest income, which amounted to Rs 2,539 crore in Q3FY24, up from Rs 1,898 crore in Q3FY23.
  • Finance Costs: Finance costs went up by 50% to Rs 695 crore in Q3FY24 compared to Rs 464 crore in Q3FY23.
  • Operating Costs: Total operating costs increased by 23%, standing at Rs 2,426 crore in Q3FY24 as opposed to Rs 1,974 crore in Q3FY23.

Asset Quality:

  • Gross NPAs: Gross non-performing assets were 2.64% of gross advances as of December 31, 2023, against 2.35% as of March 31, 2023.
  • Net NPAs: Net non-performing assets were at 0.96% as of December 31, 2023, compared to 0.87% as of March 31, 2023.

Capital and Ratings:

  • Total Balance Sheet Size: As of December 31, 2023, the total balance sheet size reached Rs 55,576 crore, up from Rs 45,546 crore as of March 31, 2023.
  • Net Worth: The net worth of the company was Rs 11,724 crore as of December 31, 2023, an increase from Rs 9,902 crore as of March 31, 2023.
  • Ratings: The company boasts a CRISIL long-term rating of AAA/Stable and a short-term rating of A1 . Similarly, ICRA has also rated the company AAA/Stable for the long-term and A1 for the short-term.

 

Result PDF

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SBI Cards & Payment Services Ltd shares SWOT Analysis

Strengths (7)

  • Effectively using Shareholders fund - Return on equity (ROE) improving since last 2 year
  • Efficient in managing Assets to generate Profits - ROA improving since last 2 year
  • Increasing Revenue every Quarter for the past 4 Quarters

Weakness (5)

  • MACD Crossover Below Signal Line
  • MFs decreased their shareholding last quarter
  • Poor cash generated from core business - Declining Cash Flow from Operations for last 2 years

Opportunity (0)

Data not found

Threats (5)

  • Promoter decreasing their shareholding
  • Companies with growing costs YoY for long term projects
  • Companies Increasing Debt as per Annual Report

Resistance and support

R1 692.4
R2 702.2
R3 708.4
Pivot

686.17

S1 676.3
S2 670.1
S3 660.3
EMA SMA
703.1
718.4
738.4
764.9
703.2
718.1
737.9
785.4
Delivery and volume
CLIENT NAME DEAL TYPE ACTION DATE AVG. PRICE QUANTITY EXCHANGE
ISHARES CORE MSCI EMERGING MARKETS ETF Block Purchase 2022-11-14 812.35 436385 NSE
ISHARES CORE EMERGING MARKETS MAURITIUS CO Block Sell 2022-11-14 812.35 436385 NSE
ISHARES CORE MSCI EMERGING MARKETS ETF Block Purchase 2022-11-03 835.9 436385 NSE
Name Category Shares
State Bank of India PROMOTER 68.64%

OUR RESEARCH VIEW

Investment recommendation
Near term pressure; gradual revival anticipated…
Call Date
01 Nov 2022
Entry Price 830.00
Target Price 950.00
Duration
12-18 Month

FINANCIALS

Sales
Operating Profit
Profit after Tax
Equity
Reserves and Surplus
Debt
Sales
Operating Profit
Profit after Tax
PE
Debt/Equity
P BV

SBI Cards & Payment Services Ltd Stocks COMPARISON

Financials( in Cr) SBI Cards & Payment Services Ltd Bajaj Finance Ltd Bajaj Finserv Ltd Jio Financial Services Ltd Indian Railway Finance Corporation Ltd
Price 682.55 7,245.25 1,643.85 353.75 142.35
% Change -1.44 3.17 3.87 0.87 -0.35
Mcap Cr 64,893.92 447,773.11 262,274.46 224,747.42 186,030.18
Revenue TTM Cr 13,670.39 41,398.35 82,071.70 44.84 23,891.95
Net Profit TTM Cr 2,258.47 11,507.69 12,209.54 31.25 6,337.01
PE TTM 27.71 32.51 33.63 0.00 30.82
1 Year Return -4.97 29.54 32.66 42.13 449.61
ROCE 13.05 11.76 12.69 0.03 5.32
ROE 25.69 23.46 28.18 0.02 14.66
INSIDER & INSTITUIONAL ACTIVITY

Equity Capital: 9,830.06 Cr FV: 10.00

Period MF Net Purchase / (sold) FII Net
LAST 1M 29,068.81 33,709.58
LAST 3M 68,518.10 30,558.15
LAST 6M 130,081.93 64,349.19
LAST 12M 189,941.35 208,211.24

SBI Cards & Payment Services Ltd Information

Stock PE (TTM)
27.71
Promoter Holding
68.75%
Book Value
116.3284
ROCE
13.05%
ROE
25.69%
Description
  • SBI Cards and Payment Services Limited was incorporated as a private limited company with the name "SBI Cards and Payment Services Private Limited" on May 15, 1998 in New Delhi. On the conversion of Company to a public limited company, the name was changed to, "SBI Cards and Payment Services Limited" on August 20, 2019. The Company is engaged in the business of issuing credit cards to consumers. It also acts as corporate insurance agent for selling insurance policies to credit card customers. SBI Cards and Payment Services Limited is a subsidiary of State Bank of India (SBI), is the second largest credit card issuer in the country. With more than 1.68 crore cards in force, the Company offer financial access through wide range of value-added payment products and services that fulfill transactional and credit requirements. It focus on delivering a diverse portfolio of credit cards, which support cashless and contactless digital payments in India while ensuring safety and transparency of transactions. The Company started its operations in 1998, and since then SBI`s parentage and highly trusted brand have allowed it to quickly establish a reputation of trust, reliability and transparency with its cardholders. According to the RBI, the company has grown its business faster than the Indian credit card market over the past three years both in terms of numbers of credit cards outstanding and amounts of credit card spends, and the company believes it has achieved this by leveraging its strength and capitalizing on India`s favourable economic and demographic changes, including its strong macroeconomic performance, rising affluence, increasing consumer demand, rapid urbanization and the growth of e-commerce platforms. From March 31, 2017 to March 31, 2019 its total credit card spends grew at a 54.2% CAGR (as compared to a 35.6% CAGR for the overall credit card industry, according to the RBI) and the number of its credit cards outstanding grew at a 34.5% CAGR (as compared to a 25.6% CAGR for the overall credit card industry, according to the RBI). SBI Cards has a broad credit card portfolio that includes SBI Card-branded credit cards as well as co-branded credit cards that bear both the SBI Card brand and its co-brand partners` brands. The Company offers four primary SBI Card branded credit cards: SimplySave, SimplyClick, Prime and Elite, each catering to a varying set of cardholder needs. The Company is also the largest co-brand credit card issuer in India according to the CRISIL Report, and it has partnerships with several major players in the travel, fuel, fashion, healthcare and mobility industries, including Air India, Apollo Hospitals, BPCL, Etihad Guest, Fbb, IRCTC, OLA Money and Yatra, among others. The Credit cards portfolio is tailored to meet a diverse range of cardholder needs across the entire spectrum of its cardholders` income profiles and lifestyles, from the "premium" cardholder category to the "affluent", "mass affluent", "mass" and "new to credit" categories. The Company issues its credit cards in partnership with the Visa, MasterCard and RuPay payment networks, and it is continuously looking to expand its payment network partnerships to broaden the reach and functionality of its credit card offerings. SBI Cards has a diversified customer acquisition network that enables it to engage prospective customers across multiple channels. The Company deploys a sales force of 32,677 outsourced sales personnel as of December 31, 2019 operating out of 145 Indian cities and which engages prospective customers through multiple channels, including physical points of sale in bank branches, retail stores, malls, fuel stations, railway stations, airports, corporate parks and offices, as well as through tele-sales, online channels, email, SMS marketing and mobile applications. The Company is the leading player in open market customer acquisition in India according to the CRISIL Report. SBI Cards had a presence in 3,190 open market points of sale across India as of December 31, 2019. In addition, its partnership with SBI provides access to SBI`s extensive network of 21,961 branches across India, which enables it to market their credit cards to SBI`s vast customer base of 445.5 million customers as of December 31, 2019. Its extensive physical customer acquisition network is complemented by its digital sales and marketing capabilities which include their website, mobile application and online, email and SMS marketing platforms. SBI Card sourced 34.1 lakh new accounts in FY 2020. It launched 8 new products across diverse categories and segments such as Lifestyle Home Centre, Max, Spar SBI Card, Club Vistara SBI Card, Central Bank of India SBI Card, City Union Bank SBI Card, Shaurya SBI Card, SBI Card Vyapaar Unnati, Ola Money SBI Card and IRCTC SBI Card Premier. It started issuing RuPay denominated card from September 2019 with the launch of Shaurya Cards. It engaged with leading merchant partners across categories from apparel, consumer durables to online shopping, healthcare, utility bill payments to provide value to cardholders on transacting with SBI Card. In FY20, in line with Hon`ble NCLT Order dated June 04, 2019, erstwhile SBI Business Process Management Services Pvt. Ltd (SBIBPMSL) amalgamated with SBI Cards and Payment Services Limited from the appointed date i.e. April 1, 2018. Pursuant to said Amalgamation, the Company allotted 9,51,12,054 fully paid equity shares of Rs. 10 each to the shareholders of erstwhile SBIBPMSL. In FY 2021, the Company launched BPCL SBI Card OCTANE, a premium version of the existing card. It also launched AURUM in a superior premium segment card, targeted at CXO`s. It sourced 26.9 Lac new accounts in FY21. It launched IRCTC SBI Card on RuPay platform, Delhi Metro SBI Card, Paytm SBI Card, SBI Elite and Prime Amex-SBI Card. It partnered with American Express (AMEX network to issue credit cards on their payment network. In FY 2022, the Company launched Nature`s Basket SBI Card, SBI Card PULSE, Aditya Birla SBI Card, SBI Card SPRINT and Fabindia SBI Card. It sourced 35.72 lacs new accounts to reach 1.38 Crore in FY 2022. Apart from this, it focused on digital acquisition channels for sourcing of new accounts. During FY2023, the Company introduced 52.02 lakh new accounts. The Company launched three card variants comprising of CASHBACK SBI Card, Aditya Birla SBI Card and Punjab & Sind Bank (PSB) SBI Card.

Registered Address

Unit 401&402 4th Floor E-1,2,3, Netaji Subhash Place Wazirpur, New Delhi, Delhi, 110034

Tel : 91-11-61268100
Email : investor.relations:sbicard.com
Website : http://www.sbicard.com
Registrar

Link Intime India Pvt Ltd

AGM Date (Month) : Aug
Face Value Equity Shares : 10
Market Lot Equity Shares : 1
BSE Code : 543066
NSE Code : SBICARD
Book Closure Date (Month) :
BSE Group : A
ISIN : INE018E01016

FAQ’s on SBI Cards & Payment Services Ltd Shares

You can buy SBI Cards & Payment Services Ltd shares through a brokerage firm. ICICIdirect is a registered broker through which you can place orders to buy SBI Cards & Payment Services Ltd Share.

Company share prices and volatile and keep changing according to the market conditions. As of Mar 28, 2024 03:59 PM the closing price of SBI Cards & Payment Services Ltd was ₹ 682.55.

Market capitalization or market cap is determined by multiplying the current market price of a company’s shares with the total number of shares outstanding. As of Mar 28, 2024 03:59 PM, the market cap of SBI Cards & Payment Services Ltd stood at ₹ 64,893.92.

The latest PE ratio of SBI Cards & Payment Services Ltd as of Mar 28, 2024 03:59 PM is 27.71

The latest PB ratio of SBI Cards & Payment Services Ltd as of Mar 28, 2024 03:59 PM is 0.17

The 52-week high of SBI Cards & Payment Services Ltd share price is ₹ 933.00 while the 52-week low is ₹ 678.90

According to analyst recommendations, SBI Cards & Payment Services Ltd Share has a “Buy” rating for the long term.

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