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

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SBI Cards & Payment Services Ltd

(NSE:SBICARD)

Select Model

Rating:52Neutral

Price Target:INR 589.00▲(0.68% Upside)

Action:reiterated

Date:11/07/26

The score is primarily held back by weaker financial quality—especially historically volatile/negative cash flows and elevated leverage—despite solid revenue growth. Technicals also weigh on the outlook with price below key longer-term moving averages and a negative MACD. Valuation is roughly moderate, but the low dividend yield offers limited support.

Positive Factors

Consistent revenue growthSustained top-line expansion indicates continuing growth in card activity, receivables, and customer monetization. A multi-year record of mostly double-digit revenue growth provides a durable base for operating scale and supports future earnings generation if credit costs remain controlled.

Negative Factors

Elevated leverageLeverage above 3.0x reduces financial flexibility and could make the company more sensitive to funding conditions or a downturn in credit performance. Higher obligations also constrain the room available for absorbing losses and funding growth through the balance sheet.

SBI Cards & Payment Services Ltd (SBICARD) vs. iShares MSCI India ETF (INDA)

Market Cap: INR 564.61B
Dividend Yield: 0.43%
Average Volume (3M): 121.20K
Price to Earnings (P/E): 21.3
Beta (1Y): 1.06
Revenue Growth: 6.46%
EPS Growth: 35.94%
Country: India
Employees: 4,218
Sector: General
Sector Strength: 55
Industry: Financial - Credit Services

SBI Cards & Payment Services Ltd Business Overview & Revenue Model

Company Description

SBI Cards and Payment Services Limited functions as a non-banking financial company primarily focused on providing credit card services to both retail consumers and corporate clients throughout India. Beyond its core card issuance, the company also a...

How the Company Makes Money

SBICARD primarily earns revenue from its credit card business through a mix of interest income, fees, and other card-related income streams. A key revenue source is interest and finance charges collected from cardholders who revolve their outstanding...

SBI Cards & Payment Services Ltd Financial Statement Overview

Summary

Income statement is solid (Score 72) with consistent double-digit revenue growth, but earnings and margin resilience weakened in the most recent year. Balance sheet is a key risk (Score 55) due to elevated leverage (~3x debt-to-equity) despite steady equity growth and healthy ROE history. Cash flow is the main drag (Score 34) given several years of negative operating/free cash flow, with FY2026 improvement still not fully proven.

Income Statement

72Positive

Balance Sheet

55Neutral

Cash Flow

34Negative

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	207.01B	207.08B	174.46B	153.41B	123.21B	96.63B
Gross Profit	163.39B	161.51B	142.68B	127.51B	106.78B	86.37B
EBITDA	36.33B	30.49B	27.27B	34.29B	31.94B	23.21B
Net Income	26.08B	21.67B	19.16B	24.08B	22.58B	16.16B
Balance Sheet
Total Assets	711.02B	663.28B	655.46B	581.71B	455.46B	346.48B
Cash, Cash Equivalents and Short-Term Investments	37.59B	23.20B	27.38B	27.30B	9.90B	7.58B
Total Debt	478.50B	440.64B	449.47B	403.15B	315.31B	232.85B
Total Liabilities	539.30B	506.02B	517.64B	460.87B	357.15B	268.96B
Stockholders Equity	171.72B	157.25B	137.82B	120.84B	98.30B	77.53B
Cash Flow
Free Cash Flow	0	157.52B	-21.96B	-55.26B	-67.64B	-44.91B
Operating Cash Flow	0	157.86B	-21.40B	-54.52B	-66.71B	-43.91B
Investing Cash Flow	0	-150.32B	-24.91B	-14.57B	-9.21B	-5.38B
Financing Cash Flow	0	-11.72B	46.87B	84.01B	78.24B	50.45B

SBI Cards & Payment Services Ltd Technical Analysis

Technical Analysis SentimentNeutral

Last Price585.00

Price Trends

50DMA593.38Negative

100DMA613.38Negative

200DMA650.56Negative

Market Momentum

MACD-3.35Negative

RSI56.96Neutral

STOCH89.07Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:SBICARD, the sentiment is Neutral. The current price of 585.00 is above the 20-day moving average (MA) of 556.74, below the 50-day MA of 593.38, and below the 200-day MA of 650.56, indicating a neutral trend. The MACD of -3.35 indicates Negative momentum. The RSI at 56.96 is Neutral, neither overbought nor oversold. The STOCH value of 89.07 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:SBICARD.

SBI Cards & Payment Services Ltd Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IN:SBICARD against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IN:BAJFINANCE	75Outperform	INR 6.63T	30.93	―	0.56%	18.79%	18.22%
IN:LTF	72Outperform	INR 684.26B	19.86	―	1.01%	17.30%	26.39%
IN:IIFL	62Neutral	INR 267.46B	11.37	―	0.60%	36.50%	190.08%
IN:CHOLAFIN	60Neutral	INR 1.53T	24.81	―	0.11%	20.67%	32.42%
IN:SHRIRAMFIN	58Neutral	INR 2.27T	16.14	―	1.29%	10.10%	14.42%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
IN:SBICARD	52Neutral	INR 559.57B	21.34	―	0.43%	6.46%	35.94%

* General Sector Average

Performance Comparison

IN:SBICARD and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:SBICARD	SBI Cards & Payment Services Ltd	585.00	-287.59	-32.96%
IN:BAJFINANCE	Bajaj Finance Limited	1075.00	63.02	6.23%
IN:CHOLAFIN	Cholamandalam Investment and Finance Co. Ltd.	1805.00	92.51	5.40%
IN:IIFL	IIFL Finance Limited	666.10	122.52	22.54%
IN:LTF	L&T Finance Ltd	271.45	-19.65	-6.75%
IN:SHRIRAMFIN	Shriram Finance Limited	970.00	171.64	21.50%

SBI Cards & Payment Services Ltd Corporate Events

SBI Cards Vests Over 187,000 Shares Under 2023 ESOP Plan

Oct 18, 2026

SBI Cards and Payment Services Ltd has vested 187,164 employee stock options under its SBI Card Employee Stock Option Plan 2023 on October 18, 2026, comprising 103,615 restricted share units and 83,549 performance share units. The vesting underscores...

SBI Cards Engages Global Investors in Gurugram Analyst Meet

Sep 15, 2026

SBI Cards & Payment Services Ltd disclosed that its representatives participated in group investor and analyst meetings in Gurugram on September 15, 2026, organized by Jefferies. The company clarified that only information already available in the pu...

SBI Cards AGM Clears All Resolutions With Strong Shareholder Support

Aug 31, 2026

SBI Cards & Payment Services Ltd held its 28th Annual General Meeting on August 31, 2026 via video conferencing and other audio-visual means, with 112 public shareholders attending online. The company reported that all resolutions, including adoption...

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Nov 07, 2026

SBI Cards & Payment Services Ltd AI Stock Analysis