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India
As of 18 Sept 2026, 03:30 pm
On September 17, 2026, SBI Cards and Payment Services representatives participated in investor meetings organized by Jefferies in Gurugram. These meetings involved participants from firms including GIC Private, Polar Capital, and Sumitomo Mitsui DS Asset Management. Separately, on September 15, 2026, the company held a one-on-one call with Mahindra Manu Life in Gurugram. In both instances, only information already available in the public domain was shared.
As of September 17, 2026, SBI Cards and Payment Services has shown varied returns across different periods. The company's one-year return was -29%, and its year-to-date return was -26%. Over shorter periods, the one-month return was -1%, the three-month return was +2%, and the six-month return was -8%.
As of September 17, 2026, the daily trend for SBI Cards and Payment Services is indicated as bullish by the Supertrend indicator, which is at 609.69. However, the weekly trend is indicated as bearish, with the Supertrend at 690.38. The closing price on this date was ₹636.95.
As of September 17, 2026, the nearest support level for SBI Cards and Payment Services is ₹636.70, which is approximately 0.04% below the current price. The nearest resistance level is ₹644.10, which is approximately 1.12% above the current price.
As of 18 Sept 2026, 03:30 pm
Recent drawdown or price variability is materially high and may lead to larger short-term outcomes.
Primary driver: Price remains materially below a previous peak
The session traded across a materially wider price range than usual.
Larger price swings can increase short-term uncertainty, especially if they continue.
Trading volume was unusually high, but the closing price did not show a clear directional move.
This indicates increased participation without a clear directional signal.
Upward price movement of 2.56 standard deviations recorded on 2026-09-03.
Unusual market activity that may warrant review of the underlying price, volume, or news context.
The session opened materially above the previous close, indicating a sharp repricing at the open.
The move may reflect new information; subsequent price follow-through is worth monitoring.
Latest complete financial results for Q1 FY2027 and comparative quarterly trends.
| Metric | Q1 FY2026-27(Latest) | Q4 FY2025-26 | Q3 FY2025-26 | Q2 FY2025-26 | Q1 FY2025-26 |
|---|---|---|---|---|---|
| Interest Earned | ₹2,420.63 crore | ₹2,381.76 crore | PEAK₹2,536.38 crore | ₹2,489.86 crore | ₹2,493.15 crore |
| Revenue From Operations | ₹5,040.55 crore | ₹4,934.50 crore | PEAK₹5,127.26 crore | ₹4,960.98 crore | ₹4,876.92 crore |
| Other Income | ₹164.81 crore | PEAK₹252.54 crore | ₹226.16 crore | ₹175.50 crore | ₹158.47 crore |
| Finance Costs | ₹744.53 crore | ₹713.62 crore | ₹785.07 crore | ₹760.07 crore | PEAK₹812.82 crore |
| Impairment On Financial Instruments | ₹947.68 crore | ₹1,096.82 crore | ₹1,222.16 crore | ₹1,292.72 crore | PEAK₹1,351.55 crore |
| Other Expenses | ₹1,985.84 crore | ₹1,961.32 crore | PEAK₹2,032.20 crore | ₹2,022.01 crore | ₹1,738.72 crore |
Revenue from operations increased 3.4% year-on-year to ₹5,040.55 crore and rose 2.1% from the preceding quarter. This expansion occurred alongside a 2.9% decline in interest earned, which fell to ₹2,420.63 crore. Fees and commission income totaled ₹2,405.54 crore in the quarter. Other income was ₹164.81 crore, up marginally from a year ago but down 34.7% from the previous quarter, reversing a higher reading recorded in March.
Finance costs were ₹744.53 crore, 8.4% lower than a year ago, though they increased 4.3% sequentially from the previous quarter. Other expenses amounted to ₹1,985.84 crore, up 14.2% year-on-year but relatively flat sequentially with a 1.3% increase. The combined savings from lower impairment and finance costs more than absorbed the year-on-year rise in other expenses, leaving a net positive impact on the bottom line.
Profit before tax grew 19.3% year-on-year to ₹893.13 crore, and net profit rose 19.5% to ₹664.44 crore. Basic earnings per share increased to ₹6.98 from ₹5.84 a year ago. Profit growth significantly outpaced the modest revenue expansion, as the reduction in impairment and finance costs served as the primary driver of earnings improvement.
Earnings for the quarter ended June 30, 2026, were driven by a sustained four-quarter decline in credit impairment charges, which fell nearly 30% year-on-year. Revenue expanded modestly, with fee income compensating for lower interest earnings. Lower impairment and finance costs more than offset rising other expenses, resulting in a 19.5% increase in net profit.
Exchange disclosures and regulatory announcements for SBI Cards and Payment Services.
SBI Cards and Payment Services Limited has informed the Exchange about ESG Rating. |SUBJECT: General Updates
SBI Cards and Payment Services Limited representatives participated in an institutional investor meeting organized by Jefferies on September 17, 2026, from 09:00 AM to 12:50 PM at Gurugram. The event included nine participants: GIC Private, Polar Capital, Sumitomo Mitsui DS Asset Management, C&S Investment managers, Locus india Financial Advisors P, Polymer Capital, Hudson Bay Capital Management, Algebris Investments, and Tara Capital Partners India. This disclosure fulfills SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 requirements following prior intimation dated September 11, 2026.
SBI Cards and Payment Services Limited disclosed that its representatives participated in group meetings with investors/analysts on September 17, 2026, in Gurugram, organized by Jefferies, from 9:00 AM to 12:50 PM. The meetings involved participants from firms including GIC Private, Polar Capital, Sumitomo Mitsui DS Asset Management, and others. Only information already available in the public domain was shared, and the disclosure was made under Regulation 30 of the SEBI Listing Regulations.
SBI Cards and Payment Services Limited held a one-on-one call with Mahindra Manu Life on September 15, 2026, from 5:00 PM to 5:48 PM at Gurugram. The meeting was conducted pursuant to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the company disclosed that prior intimation for this specific type of call was not required.
SBI Cards and Payment Services Limited held a one-on-one call with investor/analyst Mahindra Manu Life on September 15, 2026, from 5:00 PM to 5:48 PM at Gurugram, as disclosed under SEBI Regulation 30. Only information already available in the public domain was shared during the meeting.
SBI Cards and Payment Services Limited disclosed that its representatives participated in an investor meeting organized by Jefferies on September 15, 2026, from 11:30 AM to 2:30 PM at Gurugram. The event included 30 institutional investors and asset management firms, including Goldman Sachs Asset Management, Fidelity International, and T Rowe Price. The company confirmed that only information already available in the public domain was shared during the session.
SBI Cards and Payment Services Limited scheduled an institutional investor meet with Jefferies on September 17, 2026, at 9:00 AM in Gurugram, conducted as an in-person group meeting with multiple investors.
Recent market and company developments associated with SBI Cards and Payment Services.
At GFF 2026, PhonePe unveiled a suite of co-branded credit cards with HDFC Bank and SBI, plus the Wishcard for consumers with limited or no credit history. The products build on UPI-era behaviour to tap into formal credit, aiming to bring rewards, flexibility and credit-history building to Gen Z, homemakers, freelancers and semi-urban India.
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Credit card profits are shrinking for Indian banks as spending rises. Customers now use cards more for payments than borrowing, reducing interest income. Interest-bearing balances have significantly fallen as a percentage of total card spending. This trend is impacting major lenders like HDFC Bank and SBI Cards. Analysts predict further profit margin declines in the coming years.
At the end of the closing auction session, the turnover logged on the NSE website showed a figure of ₹39,717 crore, the highest since the implementation of CAS. The average daily turnover has ranged between ₹1,000 crore to ₹1,200 crore.
SBI Card loses ground while ICICI rebounds: How India’s biggest card issuers performed in July
ICICI Prudential Mutual Fund raised its stake in SBI Cards and Payment Services to 7.30% by acquiring 2.02 crore shares. The latest purchase on August 25, 2026, involved 21.61 lakh shares, reflecting a notable increase from the previous 5.18% stake.
SBI Cards gained nearly 2% after July data showed a 21.6% year-on-year rise in spends, significantly ahead of industry growth, while 1.83 lakh cards were added during the month, taking cards outstanding to 2.28 crore.
healthy demand Industry card additions rise 11.5% over June; Card spends hold above ₹2 lakh-crore mark; Transaction volumes surge but the value per transaction declines
Comprehensive Section Breakdown for SBI Cards and Payment Services
Strategic Vision: Issues credit cards to consumers and corporations in India.
• Subsidiary of State Bank of India, leveraging its extensive branch network.
SBI Cards and Payment Services Ltd. reported a 19.5% year-on-year increase in net profit for the quarter ended June 30, 2026. The earnings improvement followed a fourth consecutive quarterly decline in credit impairment charges, which fell nearly 30% compared to the same period last year. Revenue from operations grew modestly by 3.4%, supported by fee-based earnings that compensated for a drop in interest income. While other operating expenses rose, the combined reduction in impairment and finance costs more than covered the increase, lifting pre-tax and net profit margins.
Impairment on financial instruments fell to ₹947.68 crore, representing a 29.9% decrease from the year-ago quarter and a 13.6% sequential drop. The charge has declined every quarter since ₹1,351.55 crore in the first quarter of FY2025-26. The latest quarter recorded the largest absolute reduction in the sequence at ₹149.14 crore, along with the steepest percentage decline. This sustained downward trajectory in credit losses provided a direct and substantial boost to operating profitability.
Category: Financial Services
Offers a range of credit cards tailored to different spending segments, including lifestyle, premium, shopping, and cashback options.
Key Products & Services: SBI Card ELITE • SBI Card PRIME • Air India SBI Card • BPCL SBI Card
Category: Financial Services
Provides corporate card solutions designed to manage business travel expenses, procurement spending, and corporate utility payments.
Core Thesis: Leverages the parent company's network and digital channels for card distribution and customer acquisition.
• Distribution Network: Utilizes the extensive branch network of State Bank of India for customer acquisition and credit card distribution. • Digital Sourcing: Employs open-market digital sourcing channels for issuing cards. • Merchant Partnerships: Forms strategic merchant partnerships across India to facilitate card issuance.