SBI Cards and Payment Services Ltd.
Banking · NSE
52-week range
₹616 – ₹1,024
From 52w high
-37.0%
RSI (14)
38.9
vs SMA 50 / 200
↓ 50 · ↓ 200
SBI Card (SBICARD) is India's largest pure-play credit-card issuer, currently trading at ₹642, down 29.56% over 12 months and 37.28% below its 52-week high. The trailing PE of 28.18 sits above most banking-sector peers despite a ROE of 14.69% that has exceeded 15% in only 2 of the measured years, and FCF has been positive in just 1 year. Q4 FY26 profit grew 14% YoY, but analysts cut price targets post-results, reflecting concerns about earnings quality and the rising leverage trajectory.
- ✓5-year revenue growth of 18.6% demonstrates the consumer credit-card market has expanded consistently over the period, with SBI Card participating as a primary issuer.
- ✓Forward PE of 17.69 is materially compressed versus the trailing PE of 28.18, suggesting the earnings base is expected to grow substantially over the near term if consensus estimates hold.
- ✓At ₹642, the stock trades 3rd on PE (28.18) within a 6-peer Banking cohort that includes HDFCLIFE at 69.63 and BAJFINANCE at 31.04, indicating it is not the most expensively valued name in the peer set on this metric.
- ✓Q4 FY26 card spends rose 31% YoY, pointing to continued volume growth in the underlying credit-card business even in a period of margin scrutiny.
- ✗The 52-week drawdown of 37.28% and a 9+ month period below the 200-DMA (current 200-DMA: ₹805.22 vs price ₹642) reflect sustained negative price momentum with no near-term technical recovery visible in the data.
- ✗Debt-to-equity of 280.21 with a rising debt trend and FCF positive in only 1 of the tracked years represents a structurally stretched balance sheet; this is the most acute fundamental concern in the data.
- ✗ROE of 14.69% has been above 15% in only 2 of the measured years; the consistency score of 24 out of 100 places SBICARD 4th out of 6 peers on quality score (45 vs AXISBANK 53, BAJFINANCE 51), signalling uneven profitability relative to the peer group.
- ✗Following subdued Q4 results, multiple analysts cut price targets per April 2026 news flow, with the mean analyst rating at 3.12 across 24 analysts on a 1–5 scale (lower = more constructive) — the mid-scale reading indicates a divided coverage community.
- ·Q4 FY26 results (April 27 2026): net profit up 14% to approximately ₹609 crore and card spends up 31% YoY; however, the results were characterised as subdued by analyst commentary, triggering price-target cuts.
- ·CNBC TV18 reported (April 28 2026) that analysts reduced price targets post-Q4, contributing to the share-price decline; current price of ₹642 sits 6.5% above the nearest technical support at ₹632.15.
- ·SBI Card allotted 5,138 equity shares under ESOP plans in late April 2026, a routine disclosure with no material dilution impact at this scale.
- ?Does the 31% growth in card spends translate into sustainable net interest margin expansion, or is it accompanied by rising credit losses that explain the earnings-quality concerns flagged by analysts?
- ?How does SBICARD's cost of funds and leverage trajectory compare to other NBFC-structured credit-card issuers, and what does the rising debt trend imply for funding costs if rates stay elevated?
- ?The forward PE of 17.69 implies significant earnings growth consensus — what assumptions about credit costs, spends growth, and regulatory environment underpin that estimate?
- ?At what point, if any, would the quality-score gap between SBICARD (45) and top-ranked peers like AXISBANK (53) or BAJFINANCE (51) narrow, and what operational changes would drive that convergence?
PE
28.2
Forward PE
17.7
ROE
+14.7%
Profit margin
+18.3%
D/E
280.21
Dividend yield
+0.4%
Quality score
45/100
ROE 5y above 15%
2/5 yrs
FCF 5y positive
1/5 yrs
For informational purposes only. Not investment advice. VivaTrades is not a SEBI-registered Investment Adviser or Research Analyst. Market data sourced from public feeds; consult a registered adviser before any investment decision.Analysis generated 11 May 2026.