# SBI Cards and Payment Services (SBICARD) — Stock analysis

> Faxioms all-in-one stock review. Canonical page: https://faxioms.com/stocks/sbicard

## Current market snapshot

- Exchange: NSE
- Country: India
- Price: ₹585
- Change: +0.00%
- As of: 2026-11-06
- 1D return: +0.00%
- 5D return: +11.43%
- 1M return: +6.82%
- Latest complete quarter: fy27_q2

## Faxioms Analysis

_As of 2026-11-06_

### Technical Outlook

SBICARD (₹585.00) exhibits a sharp divergence between short-term daily momentum and longer-term structural weakness. On the daily chart, price action is bullish, trading above the 20-period and 50-period EMAs and SMAs, with an established trend strength indicated by an ADX of 33.27. This upward bias was reinforced on November 5th by a high-severity volume surge (+5.8% return, 2.38x volume ratio). However, this daily strength is contradicted by weekly and monthly structures, where the price remains below all major moving averages and Supertrends, signaling a broader bearish context. The stock is positioned near the upper end of its 20-day range (+91.7%) but remains deeply depressed relative to its 252-day range (+16.7%), sitting in a significant drawdown of -42.5%. A neutral anomaly on November 6th shows a wide weekly range (+10.8%) despite zero net return, suggesting indecision or consolidation after recent volatility. Immediate resistance lies at ₹597.62 (+2.16%), while support is tight at ₹582.47 (-0.43%).

- Timeframe Divergence: Daily structure is bullish (price above 20/50 EMA/SMA; ADX 33.27), whereas weekly and monthly structures remain bearish (price below all MAs and Supertrend).
- Range Positioning: Price is near the top of the 20-day range (+91.7%) but remains near the bottom of the 252-day range (+16.7%), reflecting a severe long-term drawdown of -42.5%.
- Key Levels: Immediate resistance at ₹597.62 (+2.16%); immediate support at ₹582.47 (-0.43%). A break above ₹597.62 would be required to confirm continuation of the daily uptrend.
- Volatility & Anomalies: High volatility persists (ATR 3.11%, Annualized Vol 28.3%). Recent activity includes a high-severity volume spike on Nov 5 and a wide-range neutral candle on Nov 6, indicating contested price discovery.

- Doji
- Inside Bar
- Bearish Engulfing Reversal
- Bullish Engulfing Reversal

### News Context

In the seven-day window leading to November 5, 2026, SBICARD’s primary material development was its Q2 FY27 earnings release. The company reported a 75% profit growth for the quarter, a result that analysts noted beat market estimates. This performance marked a strong bottom-line recovery compared to peers in the SBI Group; while State Bank of India and SBI Life Insurance posted profit growth of 14.28% and 11% respectively, SBI Life missed expectations. Despite SBICARD’s superior earnings trajectory, external analysts from Bonanza and PhonePe Invest expressed a preference for SBI, citing stronger fundamental outlooks and inline performance amidst top-line headwinds facing the card business.

Additionally, institutional interest in SBICARD remained consistent. Data from early November 2026 highlighted SBICARD as one of six stocks with gradually rising mutual fund holdings over four consecutive quarters ending September 2026. This accumulation occurred during a broader market slump driven by geopolitical tensions, inflationary pressures, and hawkish monetary policy shifts, suggesting sustained institutional confidence in the stock despite macroeconomic volatility.

- Q2 FY27 Profit Growth: SBICARD reported 75% profit growth, beating analyst estimates and outperforming SBI (14.28%) and SBI Life (11%), though SBI Life missed expectations.
- Analyst Sentiment: While acknowledging SBICARD’s bottom-line recovery, analysts from Bonanza and PhonePe Invest prefer SBI due to its stronger fundamental outlook and resilience against top-line headwinds affecting the card sector.
- Institutional Accumulation: Mutual funds have increased holdings in SBICARD for four consecutive quarters through September 2026, identifying it as a resilient pick amid broader market slumps caused by geopolitical and inflationary pressures.

- [SBI vs SBI Life vs SBI Cards: Which SBI Group stock emerged as the Q2 results 2026 winner? Check analyst targets](https://www.livemint.com/market/stock-market-news/sbi-vs-sbi-life-vs-sbi-cards-which-sbi-group-stock-emerged-as-the-q2-results-2026-winner-check-analyst-targets-11793811829732.html)
- [Most wanted stocks 2026: 6 stocks mutual funds are buying even as markets slump](https://economictimes.indiatimes.com/mf/analysis/most-wanted-stocks-2026-6-stocks-mutual-funds-are-buying-even-as-markets-slump/articleshow/135444961.cms)
- [Most wanted stocks 2026: 6 stocks mutual funds are buying even as markets slump - The Economic Times](https://economictimes.indiatimes.com/wealth/invest/most-wanted-stocks-2026-6-stocks-mutual-funds-are-buying-even-as-markets-slump/articleshow/135386027.cms)

### Official Filings

SBI Cards and Payment Services Limited reported strong Q2 FY27 financial results, with Profit After Tax (PAT) surging 75% year-over-year to ₹778 crore, driven by improved credit costs and lower impairment losses. Total income rose 3% to ₹5,302 crore, while Receivables grew 7% quarter-on-quarter to ₹95,299 crore. The company added over 1 million new accounts in the quarter, bringing Cards in Force to approximately 2.32 crore. Asset quality metrics showed improvement, with Gross NPA reducing to 1.9% and Net NPA at 0.83%, supported by a Capital Adequacy Ratio of 26.5%. Management guided for full-year retail spend growth in the mid-teens to high teens range, noting that Net Interest Margin would remain stable despite rising cost of funds.

In corporate actions, the Nomination and Remuneration Committee approved the allotment of 5,560 equity shares following employee stock option exercises on October 29, 2026. This increased paid-up capital from ₹9,51,64,37,830 to ₹9,51,64,93,430. Additionally, the company announced a partnership with Air India and Visa to launch a co-branded credit card for Maharaja Club members, though no specific launch date or terms were disclosed.

- Q2 FY27 PAT increased 75% YoY to ₹778 crore, with Total Income up 3% to ₹5,302 crore, reflecting better credit costs and asset quality.
- Gross NPA declined to 1.9% and Net NPA to 0.83%; CAR stands at 26.5%, while Receivables grew 7% QoQ to ₹95,299 crore.
- Paid-up share capital increased to ₹9,51,64,93,430 after the allotment of 5,560 ESOP shares on October 29, 2026.
- Management guided for mid-teens to high-teen retail spend growth for FY27, with plans to stabilize NIM through yield hikes on incremental EMI books.

- [SBI CARDS AND PAYMENT SERVICES LIMITED has informed the Exchange regarding Allotment of Securities |SUBJECT: Alteration Of Capital and Fund Raising-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/ALTERATION_OF_CAPITAL_AND_FUND_RAISING_17645_WebXMLFile_20261029_124841843.xml)
- [SBI Cards and Payment Services Limited has informed the Exchange regarding Allotment of 5560 Shares. |SUBJECT: ESOP/ESOS/ESPS](https://nsearchives.nseindia.com/corporate/SBICPSL_29102026124002_SEFilingESOPOctober2019and2023Scheme.pdf)
- [SBI CARDS AND PAYMENT SERVICES LIMITED has informed the Exchange regarding Allotment of Securities |SUBJECT: Alteration Of Capital and Fund Raising-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/ALTERATION_OF_CAPITAL_AND_FUND_RAISING_17645_WebXMLFile_20261029_125428340.xml)
- [SBI Cards and Payment Services Limited has informed the Exchange about Transcript |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/SBICPSL_29102026165052_SEfilingtranscriptoct2026.pdf)
- [SBI CARDS AND PAYMENT SERVICES LIMITED has informed the Exchange about Transcripts - earnings or quarterly calls |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_17645_WebXMLFile_20261029_170508166.xml)
- [SBI Cards and Payment Services Limited has informed the Exchange regarding a press release dated October 28, 2026, titled "Air India and SBI Card to launch co-branded credit card soon". |SUBJECT: Press Release](https://nsearchives.nseindia.com/corporate/SBICARDS_28102026140032_SEPressrelease.pdf)
- [SBI Cards and Payment Services Limited has informed the Exchange about Copy of Newspaper Publication |SUBJECT: Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/SBICARDS_24102026121140_SEFilingNewspaperPublicationSep2026.pdf)
- [SBI Cards and Payment Services Limited has submitted to the Exchange, the Financial Results for the period ended September 30, 2026. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/SBICARDS_23102026143701_SEFilingOutcomeofBoardMeetingSep2026.pdf)
- [Sbi Cards And Payment Services Limited has informed the Exchange about Investor Presentation |SUBJECT: Investor Presentation](https://nsearchives.nseindia.com/corporate/SBICARDS_23102026145459_SEFilingInvestorPresentationSep2026.pdf)
- [SBI Cards and Payment Services Limited has informed the Exchange regarding a press release dated October 23, 2026, titled "Financial Results of the Company for the quarter ended September 30, 2026". |SUBJECT: Press Release](https://nsearchives.nseindia.com/corporate/SBICARDS_23102026150310_SEFilingPressReleaseSep2026signed.pdf)

### Fundamentals

SBI Cards and Payment Services reported a strong sequential improvement in Q2 FY2026-27, with net profit rising to ₹778 crore from ₹664 crore in Q1. Revenue from operations increased slightly to ₹5,141 crore, while total expenses declined to ₹4,256 crore. A key driver of earnings quality was the reduction in impairment on financial instruments to ₹819 crore from ₹948 crore, which directly supported the growth in pre-tax profit to ₹1,046 crore.

On the balance sheet, assets grew to ₹71,102 crore as of September 2026, driven by a significant increase in investments to ₹7,980 crore and cash reserves to ₹3,561 crore. Conversely, loans decreased to ₹56,532 crore, and borrowing rose to ₹47,850 crore. Cash flow from operating activities turned positive at ₹493 crore for the year ended March 2026, reversing previous negative trends. Shareholding patterns show a steady rise in DII holdings to 20.18% in September 2026, while promoter stakes remained stable around 68.86%.

Long-term metrics indicate a 13% compounded sales growth over three years, though stock price performance has been negative (-10% CAGR over three years). The financing margin improved significantly to 18.0% in the September quarter compared to 9.0% in the prior year period.

- Q2 FY2026-27 Net Profit rose sequentially to ₹778 crore, aided by lower impairment costs (₹819 crore) and reduced total expenses (₹4,256 crore).
- Investments surged to ₹7,980 crore and cash reserves reached ₹3,561 crore as of September 2026, while loan book contracted to ₹56,532 crore.
- Operating cash flow turned positive at ₹493 crore for FY2026, marking a reversal from negative cash flows in prior years.
- DII shareholding increased to 20.18% in September 2026, reflecting growing institutional interest despite a -10% stock price CAGR over three years.

### Bull Case

SBI Cards and Payment Services presents a conditional upside case anchored by strong operational recovery and sustained institutional interest, despite a challenging technical backdrop. In Q2 FY27, the company reported a 75% profit growth, significantly outperforming estimates and contrasting with the 14.28% growth of its parent, State Bank of India. This bottom-line resilience highlights effective cost management or margin expansion during the period. Furthermore, mutual funds have increased their holdings in SBI Cards for four consecutive quarters since September 2025, signaling long-term confidence from large-scale investors even amidst broader market slumps. Technically, the daily trend shows a bullish super-trend direction and positive momentum indicators (ADX 33.27, Plus DI 28.08), suggesting short-term buying pressure that could support a rebound from current levels near ₹585. However, this constructive signal is counterbalanced by a bearish monthly super-trend and a significant year-to-date decline of -31.9%, indicating that any upside remains conditional on the stock sustaining daily momentum against longer-term downward pressure.

- Q2 FY27 profit surged 75%, beating analyst estimates and demonstrating strong bottom-line recovery relative to peers.
- Mutual fund holdings have risen for four consecutive quarters since September 2025, reflecting sustained institutional accumulation.
- Daily technicals show a bullish super-trend and ADX of 33.27, indicating active short-term buying interest near ₹585.
- Upside is conditional; monthly trends remain bearish and YTD returns are down -31.9%, requiring confirmation of sustained daily strength.

- [SBI vs SBI Life vs SBI Cards: Which SBI Group stock emerged as the Q2 results 2026 winner? Check analyst targets](https://www.livemint.com/market/stock-market-news/sbi-vs-sbi-life-vs-sbi-cards-which-sbi-group-stock-emerged-as-the-q2-results-2026-winner-check-analyst-targets-11793811829732.html)
- [Most wanted stocks 2026: 6 stocks mutual funds are buying even as markets slump](https://economictimes.indiatimes.com/mf/analysis/most-wanted-stocks-2026-6-stocks-mutual-funds-are-buying-even-as-markets-slump/articleshow/135444961.cms)
- [Most wanted stocks 2026: 6 stocks mutual funds are buying even as markets slump - The Economic Times](https://economictimes.indiatimes.com/wealth/invest/most-wanted-stocks-2026-6-stocks-mutual-funds-are-buying-even-as-markets-slump/articleshow/135386027.cms)
- [SBI CARDS AND PAYMENT SERVICES LIMITED has informed the Exchange regarding Allotment of Securities |SUBJECT: Alteration Of Capital and Fund Raising-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/ALTERATION_OF_CAPITAL_AND_FUND_RAISING_17645_WebXMLFile_20261029_124841843.xml)
- [SBI Cards and Payment Services Limited has informed the Exchange regarding Allotment of 5560 Shares. |SUBJECT: ESOP/ESOS/ESPS](https://nsearchives.nseindia.com/corporate/SBICPSL_29102026124002_SEFilingESOPOctober2019and2023Scheme.pdf)
- [SBI CARDS AND PAYMENT SERVICES LIMITED has informed the Exchange regarding Allotment of Securities |SUBJECT: Alteration Of Capital and Fund Raising-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/ALTERATION_OF_CAPITAL_AND_FUND_RAISING_17645_WebXMLFile_20261029_125428340.xml)
- [SBI Cards and Payment Services Limited has informed the Exchange about Transcript |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/SBICPSL_29102026165052_SEfilingtranscriptoct2026.pdf)
- [SBI CARDS AND PAYMENT SERVICES LIMITED has informed the Exchange about Transcripts - earnings or quarterly calls |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_17645_WebXMLFile_20261029_170508166.xml)
- [SBI Cards and Payment Services Limited has informed the Exchange regarding a press release dated October 28, 2026, titled "Air India and SBI Card to launch co-branded credit card soon". |SUBJECT: Press Release](https://nsearchives.nseindia.com/corporate/SBICARDS_28102026140032_SEPressrelease.pdf)
- [SBI Cards and Payment Services Limited has informed the Exchange about Copy of Newspaper Publication |SUBJECT: Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/SBICARDS_24102026121140_SEFilingNewspaperPublicationSep2026.pdf)

### Bear Case

SBICARD faces significant headwinds as evidenced by a sharp technical deterioration and broader market volatility. While Q2 FY27 profits grew 75%, the stock has underperformed peers, with analysts preferring SBI for its stronger fundamental outlook amidst top-line headwinds in the card business. Technically, the monthly and weekly trends are bearish, with the Supertrend indicating downward pressure on both timeframes. The stock is trading near immediate support at ₹582.47, below which downside risk increases toward ₹565.45–₹565.77. Performance metrics reflect substantial losses, with a year-to-date return of -31.9% and a one-year return of -32.8%. The stock is currently in a deep drawdown of -42.5%, approaching its historical maximum drawdown of -48.4%, while annualized volatility remains elevated at +28.3%. Although mutual funds have increased holdings for four consecutive quarters since September 2025, this activity occurs during a broader market slump driven by geopolitical tensions and inflationary pressures.

- Technical breakdown: Monthly and weekly Supertrends are bearish; ADX values (monthly: 10.56, weekly: 34.95) suggest weakening to strong downtrend momentum respectively.
- Severe underperformance: YTD return is -31.9% and 1-year return is -32.8%; current drawdown is -42.5%, nearing the maximum drawdown of -48.4%.
- Key support levels: Immediate support at ₹582.47 (0.43% below); failure to hold could expose prices to secondary supports at ₹578.38 and the ₹565.45–₹565.77 zone.
- Market context: Broader market slump driven by geopolitical tensions, inflation, and hawkish monetary policy shifts continues to weigh on sentiment despite rising mutual fund holdings.

- [SBI vs SBI Life vs SBI Cards: Which SBI Group stock emerged as the Q2 results 2026 winner? Check analyst targets](https://www.livemint.com/market/stock-market-news/sbi-vs-sbi-life-vs-sbi-cards-which-sbi-group-stock-emerged-as-the-q2-results-2026-winner-check-analyst-targets-11793811829732.html)
- [Most wanted stocks 2026: 6 stocks mutual funds are buying even as markets slump](https://economictimes.indiatimes.com/mf/analysis/most-wanted-stocks-2026-6-stocks-mutual-funds-are-buying-even-as-markets-slump/articleshow/135444961.cms)
- [Most wanted stocks 2026: 6 stocks mutual funds are buying even as markets slump - The Economic Times](https://economictimes.indiatimes.com/wealth/invest/most-wanted-stocks-2026-6-stocks-mutual-funds-are-buying-even-as-markets-slump/articleshow/135386027.cms)
- [SBI CARDS AND PAYMENT SERVICES LIMITED has informed the Exchange regarding Allotment of Securities |SUBJECT: Alteration Of Capital and Fund Raising-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/ALTERATION_OF_CAPITAL_AND_FUND_RAISING_17645_WebXMLFile_20261029_124841843.xml)
- [SBI Cards and Payment Services Limited has informed the Exchange regarding Allotment of 5560 Shares. |SUBJECT: ESOP/ESOS/ESPS](https://nsearchives.nseindia.com/corporate/SBICPSL_29102026124002_SEFilingESOPOctober2019and2023Scheme.pdf)
- [SBI CARDS AND PAYMENT SERVICES LIMITED has informed the Exchange regarding Allotment of Securities |SUBJECT: Alteration Of Capital and Fund Raising-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/ALTERATION_OF_CAPITAL_AND_FUND_RAISING_17645_WebXMLFile_20261029_125428340.xml)
- [SBI Cards and Payment Services Limited has informed the Exchange about Transcript |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/SBICPSL_29102026165052_SEfilingtranscriptoct2026.pdf)
- [SBI CARDS AND PAYMENT SERVICES LIMITED has informed the Exchange about Transcripts - earnings or quarterly calls |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_17645_WebXMLFile_20261029_170508166.xml)
- [SBI Cards and Payment Services Limited has informed the Exchange regarding a press release dated October 28, 2026, titled "Air India and SBI Card to launch co-branded credit card soon". |SUBJECT: Press Release](https://nsearchives.nseindia.com/corporate/SBICARDS_28102026140032_SEPressrelease.pdf)
- [SBI Cards and Payment Services Limited has informed the Exchange about Copy of Newspaper Publication |SUBJECT: Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/SBICARDS_24102026121140_SEFilingNewspaperPublicationSep2026.pdf)

### FAQs

**How did SBI Cards perform in Q2 FY27, and what drove the results?**

SBI Cards reported a 75% year-over-year increase in Profit After Tax (PAT) to INR 778 crores for Q2 FY27. This growth was primarily driven by improved credit costs, with gross credit costs declining to 5.6% and gross NPAs reducing to 1.9%. The company also added over 1 million new accounts, bringing its Cards in Force to approximately 2.32 crore.

**What is the current outlook on profitability and spending growth?**

Management guided for full-year retail spend growth in the mid-teens to high teens range. Regarding margins, Net Interest Margin (NIM) is expected to remain stable despite rising cost of funds, supported by yield hikes on incremental EMI books. Analysts noted that the company beat estimates during this reporting period.

**Is institutional interest in the stock changing?**

Yes. Mutual fund holdings in SBI Cards have risen for four consecutive quarters since September 2025. The stock was identified as one of six 'most wanted' stocks with consistently rising mutual fund holdings as of September 2026, even amid broader market slumps.

**How has the stock price performed recently compared to its long-term trend?**

As of November 6, 2026, the stock closed at ₹585.00. While it has seen short-term gains (+7.2% over 10 days), it remains significantly down over longer horizons, with a Year-to-Date return of -31.9% and a 1-year return of -32.8%. The daily technical trend is currently bullish, but the monthly and weekly trends are bearish.

- [SBI vs SBI Life vs SBI Cards: Which SBI Group stock emerged as the Q2 results 2026 winner? Check analyst targets](https://www.livemint.com/market/stock-market-news/sbi-vs-sbi-life-vs-sbi-cards-which-sbi-group-stock-emerged-as-the-q2-results-2026-winner-check-analyst-targets-11793811829732.html)
- [Most wanted stocks 2026: 6 stocks mutual funds are buying even as markets slump](https://economictimes.indiatimes.com/mf/analysis/most-wanted-stocks-2026-6-stocks-mutual-funds-are-buying-even-as-markets-slump/articleshow/135444961.cms)
- [Most wanted stocks 2026: 6 stocks mutual funds are buying even as markets slump - The Economic Times](https://economictimes.indiatimes.com/wealth/invest/most-wanted-stocks-2026-6-stocks-mutual-funds-are-buying-even-as-markets-slump/articleshow/135386027.cms)
- [SBI CARDS AND PAYMENT SERVICES LIMITED has informed the Exchange regarding Allotment of Securities |SUBJECT: Alteration Of Capital and Fund Raising-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/ALTERATION_OF_CAPITAL_AND_FUND_RAISING_17645_WebXMLFile_20261029_124841843.xml)
- [SBI Cards and Payment Services Limited has informed the Exchange regarding Allotment of 5560 Shares. |SUBJECT: ESOP/ESOS/ESPS](https://nsearchives.nseindia.com/corporate/SBICPSL_29102026124002_SEFilingESOPOctober2019and2023Scheme.pdf)
- [SBI CARDS AND PAYMENT SERVICES LIMITED has informed the Exchange regarding Allotment of Securities |SUBJECT: Alteration Of Capital and Fund Raising-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/ALTERATION_OF_CAPITAL_AND_FUND_RAISING_17645_WebXMLFile_20261029_125428340.xml)
- [SBI Cards and Payment Services Limited has informed the Exchange about Transcript |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/SBICPSL_29102026165052_SEfilingtranscriptoct2026.pdf)
- [SBI CARDS AND PAYMENT SERVICES LIMITED has informed the Exchange about Transcripts - earnings or quarterly calls |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_17645_WebXMLFile_20261029_170508166.xml)
- [SBI Cards and Payment Services Limited has informed the Exchange regarding a press release dated October 28, 2026, titled "Air India and SBI Card to launch co-branded credit card soon". |SUBJECT: Press Release](https://nsearchives.nseindia.com/corporate/SBICARDS_28102026140032_SEPressrelease.pdf)
- [SBI Cards and Payment Services Limited has informed the Exchange about Copy of Newspaper Publication |SUBJECT: Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/SBICARDS_24102026121140_SEFilingNewspaperPublicationSep2026.pdf)
## Technical analytics

- As of: 2026-11-06
- Daily trend: Weak Uptrend
- Weekly trend: Moderate Downtrend
- Pivot point: ₹578.38
- Risk regime: Higher Price Risk

### Support levels
- 582.4749999999999
- 565.45
- 547.65

### Resistance levels
- 670.45625
- 674.2
- 762.9749999999999

### Return and range metrics

| Metric | Value |
| --- | --- |
| return_1 | +0.00% |
| return_10 | +7.23% |
| return_1m | +2.74% |
| return_1y | -32.77% |
| return_20 | +6.82% |
| return_3m | -11.36% |
| return_5 | +11.43% |
| return_6m | -9.95% |
| return_since_start | -13.69% |
| return_ytd | -31.94% |

### Risk and volatility metrics

| Metric | Value |
| --- | --- |
| state | high_risk |
| label | Higher price risk |
| summary | Recent drawdown or price variability is materially high and may lead to larger short-term outcomes. |
| maximum_drawdown | -48.38% |
| annualized_volatility | +28.27% |

## Quarterly financials

- Latest complete quarter: fy27_q2

# Sbi Cards And Payment Services Limited FY2026-27 Q2: Profit rises 17% sequentially

Sbi Cards And Payment Services Limited reported profit after tax of ₹778 crore for FY2026-27 Q2, up 17.0% from Q1. Lower impairment charges and a decline in total expenses supported the increase, while total income grew 1.9% sequentially to ₹5,302 crore.

## Income grows modestly

Revenue from operations increased 2.0% quarter on quarter to ₹5,141 crore from ₹5,041 crore in FY2026-27 Q1. Interest earned rose 3.7% to ₹2,511 crore, while other income declined 2.2% to ₹161 crore. Total income was ₹5,302 crore, compared with ₹5,205 crore in Q1.

## Lower impairment supports profit growth

Impairment on financial instruments declined 13.5% to ₹819 crore from ₹948 crore in Q1. Other expenses increased 5.8% to ₹2,102 crore and finance costs rose 5.7% to ₹787 crore, but total expenses fell 1.3% to ₹4,256 crore from ₹4,312 crore. Profit before tax rose 17.1% to ₹1,046 crore.

## Profit and earnings per share

Profit after tax increased 17.0% to ₹778 crore from ₹664 crore in Q1. Tax expense rose to ₹268 crore from ₹229 crore. Basic and diluted earnings per share were ₹8.17, up from ₹6.98 in the previous quarter.

## Balance sheet and funding

At 30 September 2026, loans stood at ₹56,532 crore, down from ₹57,856 crore at 30 September 2025. Investments were ₹7,980 crore, compared with ₹6,374 crore at 31 March 2026, while cash and cash equivalents were ₹3,561 crore, up from ₹2,104 crore at that date.

Borrowings totalled ₹41,519 crore at 30 September 2026, compared with ₹37,621 crore at 31 March 2026 and ₹41,610 crore at 30 September 2025. Equity increased to ₹17,172 crore from ₹14,789 crore at 30 September 2025.

## Key Takeaway

Q2 profit growth was supported by lower impairment charges and a modest decline in total expenses, alongside modest income growth. Loans were lower year on year, while borrowings were broadly unchanged; investments and cash were higher than at 31 March 2026.

### Ratios

## Shareholding pattern

- Quarter: FY2027-Q2
- As of: 2026-09-30
- Promoter holding: +68.86%
- FII holding: +7.12%
- DII holding: +88.76%
- Mutual fund holding: +13.00%
- Retail holding: +3.02%
- Promoter pledged: +0.00%

### Major reported shareholders

- State Bank of India — +68.58%
- Icici Prudential Large & Mid Cap Fund — +7.71%
- Life Insurance Corporation Of India - P & Gs Fund — +6.11%
- Nippon Life India Trustee Ltd-A/C Nippon India Multi Cap Fund — +2.16%
- Government Pension Fund Global — +1.80%
- SBI Large & Mid Cap Fund — +1.00%
- SBI Life Insurance Company Limited — +0.28% (Other)

## Official filings

- 2026-10-29 — Generic Announcement: SBI Cards and Payment Services Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/ALTERATION_OF_CAPITAL_AND_FUND_RAISING_17645_WebXMLFile_20261029_124841843.xml)
- 2026-10-29 — Generic Announcement: SBI Cards and Payment Services Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/SBICPSL_29102026124002_SEFilingESOPOctober2019and2023Scheme.pdf)
- 2026-10-29 — Generic Announcement: SBI Cards and Payment Services Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/ALTERATION_OF_CAPITAL_AND_FUND_RAISING_17645_WebXMLFile_20261029_125428340.xml)
- 2026-10-29 — Generic Announcement: SBI Cards and Payment Services Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/SBICPSL_29102026165052_SEfilingtranscriptoct2026.pdf)
- 2026-10-29 — Generic Announcement: SBI Cards and Payment Services Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_17645_WebXMLFile_20261029_170508166.xml)
- 2026-10-28 — Press Release: SBI Cards and Payment Services Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/SBICARDS_28102026140032_SEPressrelease.pdf)
- 2026-10-24 — Generic Announcement: SBI Cards and Payment Services Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/SBICARDS_24102026121140_SEFilingNewspaperPublicationSep2026.pdf)
- 2026-10-23 — Generic Announcement: SBI Cards and Payment Services Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/SBICARDS_23102026143701_SEFilingOutcomeofBoardMeetingSep2026.pdf)
- 2026-10-23 — Earnings Presentation: SBI Cards and Payment Services Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/SBICARDS_23102026145459_SEFilingInvestorPresentationSep2026.pdf)
- 2026-10-23 — Press Release: SBI Cards and Payment Services Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/SBICARDS_23102026150310_SEFilingPressReleaseSep2026signed.pdf)
- 2026-10-23 — Credit Rating Update: SBI Cards and Payment Services Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/SBICARDS_23102026183203_SEFilingCreditRatingOct2026.pdf)
- 2026-10-23 — Financial Results Filing: Sbi Cards And Payment Services Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_NBFC_INDAS_1745092_23102026082831_WEB.xml)
- 2026-10-23 — Generic Announcement: SBI Cards and Payment Services Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/SBICPSL_23102026204327_SEFilingAudioRecordingSep2026.pdf)
- 2026-10-23 — Generic Announcement: SBI Cards and Payment Services Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_17645_WebXMLFile_20261023_204831875.xml)
- 2026-10-19 — Board Meeting Notice: SBI Cards and Payment Services Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/SBICARDS_19102026100553_SEFilingBMIntimation.pdf)
- 2026-10-19 — Generic Announcement: SBI Cards and Payment Services Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_17645_WebXMLFile_20261019_101501736.xml)
- 2026-10-19 — Board Meeting Notice: SBI Cards and Payment Services Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_17645_WebXMLFile_20261019_101501736.xml)
- 2026-10-19 — Generic Announcement: SBI Cards and Payment Services Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/SBICARDS_19102026113332_SEFIlingearningcallintimation.pdf)
- 2026-10-19 — Generic Announcement: SBI Cards and Payment Services Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_17645_WebXMLFile_20261019_121208870.xml)
- 2026-10-18 — Generic Announcement: SBI Cards and Payment Services Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/SBICPSL_18102026113314_SEESOPvesting.pdf)
- 2026-10-18 — Generic Announcement: SBI Cards and Payment Services Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/REG30_PARA_B_17645_WebXMLFile_20261018_114027968.xml)
- 2026-10-15 — Press Release: SBI Cards and Payment Services Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/SBICARDS_15102026150353_SEfilingpressreleaseoct2026.pdf)
- 2026-10-15 — Generic Announcement: SBI Cards and Payment Services Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/REG30_PARA_B_17645_WebXMLFile_20261015_152313194.xml)
- 2026-10-14 — Shareholding Disclosure: SBI Cards and Payment Services Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SHP_1737457_14102026121442_WEB.xml)
- 2026-10-07 — Generic Announcement: SBI Cards and Payment Services Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/SBICARDS_07102026162406_SEFiling74September2026.pdf)

## News and market events

- 2026-11-04 — Mint: **SBI vs SBI Life vs SBI Cards: Which SBI Group stock emerged as the Q2 results 2026 winner? Check analyst targets** — State Bank of India, SBI Life Insurance, and SBI Cards reported Q2 FY27 results showing profit growth of 14.28%, 11%, and 75% respectively, with analysts noting that SBI Cards beat estimates while SBI Life missed expectations. Although SBI Cards demonstrated strong bottom-line recovery, experts such as Bonanza and PhonePe Invest prefer SBI for its stronger fundamental outlook and inline performance amidst top-line headwinds faced by the card business. — [Source](https://www.livemint.com/market/stock-market-news/sbi-vs-sbi-life-vs-sbi-cards-which-sbi-group-stock-emerged-as-the-q2-results-2026-winner-check-analyst-targets-11793811829732.html)
- 2026-11-02 — Economic Times: **Most wanted stocks 2026: 6 stocks mutual funds are buying even as markets slump** — Six stocks including KFin Technologies, Rainbow Children’s Medicare, Indus Towers, Timken India, SBI Cards & Payment Services, and Mahindra & Mahindra have seen a gradual rise in mutual fund holdings for four consecutive quarters since September 2025. This investment activity occurs amid a broader market slump driven by geopolitical tensions, inflationary pressures, and hawkish monetary policy shifts. — [Source](https://economictimes.indiatimes.com/mf/analysis/most-wanted-stocks-2026-6-stocks-mutual-funds-are-buying-even-as-markets-slump/articleshow/135444961.cms)
- 2026-11-02 — Economic Times: **Most wanted stocks 2026: 6 stocks mutual funds are buying even as markets slump - The Economic Times** — Economic Times identified six stocks with consistently rising mutual fund holdings over the past four quarters as of September 2026, highlighting them as resilient picks amid a broader market slump. — [Source](https://economictimes.indiatimes.com/wealth/invest/most-wanted-stocks-2026-6-stocks-mutual-funds-are-buying-even-as-markets-slump/articleshow/135386027.cms)
- 2026-10-23 — Economic Times: **SBI Cards Q2 profit jumps 75% YoY to Rs 778 crore as bad loan costs fall sharply** — SBI Cards reported a 75% year-on-year profit increase to Rs 778 crore in Q2 FY27, driven by lower credit costs and improved asset quality. However, corporate card spending declined, receivables contracted, and net interest margins narrowed. — [Source](https://economictimes.indiatimes.com/markets/stocks/earnings/sbi-cards-q2-profit-jumps-75-yoy-to-rs-778-crore-as-bad-loan-costs-fall-sharply/articleshow/135147815.cms)
- 2026-10-23 — The Hindu: **SBI Cards and Payment Services reports a rise in ​second-quarter profit** — SBI Card posts higher quarterly profit as asset quality improves, with lower provisions and steady credit growth. — [Source](https://www.thehindubusinessline.com/money-and-banking/sbi-card-posts-higher-quarterly-profit-on-improving-asset-quality/article71615527.ece)
- 2026-10-23 — CNBC-TV18: **SBI Card Q2 results: Net profit rises 74.8% to ₹778 crore, revenue up 3.6%** — SBI Cards and Payment Services reported a 74.8 percent year-on-year increase in net profit to ₹778 crore for the September quarter, with revenue rising 3.6 percent to ₹5,140.5 crore. — [Source](https://www.cnbctv18.com/market/earnings/sbi-card-q2-results-net-profit-revenue-credit-card-share-price-stock-20018026.htm)
- 2026-10-01 — MONEYCONTROL: **Why big Indian banks are not biting into Apple Pay** — Fintech, Apple Pay, payments, Axis Bank, Apple Wallet, credit cards, rewards, large banks, HDFC, iPhone — [Source](https://www.moneycontrol.com/technology/why-big-indian-banks-are-not-biting-into-apple-pay-article-14042574.html)
- 2026-09-28 — CNBC-TV18: **Credit card transaction volumes rise, but lower ticket sizes drag August spending** — Credit card usage remained strong with transaction volumes rising and the number of outstanding cards hitting a new high, while spending stayed above ₹2 lakh crore for a fourth straight month. What do the latest RBI trends reveal about consumer spending and the banking sector? — [Source](https://www.cnbctv18.com/economy/credit-card-transactions-rise-lower-ticket-sizes-drag-august-spending-rbi-sbi-cards-hdfc-icici-axis-bank-alpha-article-19999809.htm)
- 2026-09-24 — Economic Times: **FD-backed SBI Card: Advantage SBI Card launched; who can benefit from it? - The Economic Times** — SBI Card has introduced the Advantage SBI Card through the SBI YONO app, making it simpler than ever for customers to apply. This innovative offering features four variants of secured credit cards linked to fixed deposits. With a fully paperless application process, it's designed to enhance accessibility, particularly for those with limited credit histories seeking a means to build financial profiles. — [Source](https://economictimes.indiatimes.com/wealth/spend/fd-backed-sbi-card-advantage-sbi-card-launched-who-can-benefit-from-it/articleshow/134450704.cms)
- 2026-09-24 — BUSINESSTODAY: **Apple Pay India launch: After 90+ markets, is India finally next? What you can expect** — Apple Pay India, Apple Pay launch India, Apple Pay October launch, Apple Pay Axis Bank, Apple Pay UPI, Apple Pay India launch date, Apple Pay iPhone, Apple Wallet India, Apple Pay 2026, Axis Bank Apple Pay — [Source](https://www.businesstoday.in/technology/news/story/apple-pay-india-launch-after-90-markets-is-india-finally-next-what-you-can-expect-557353-2026-09-24)
- 2026-09-23 — CNBC-TV18: **Bajaj Finance 'bear' upgrades rating, no longer among lowest targets; Here's why** — India is entering a strong credit growth cycle within the unsecured lending space, UBS said. This will be supported by healthy asset quality across banks and NBFCs, flat unsecured household leverage over the past three years, abundant system liquidity and a more risk-on stance from lenders. — [Source](https://www.cnbctv18.com/market/bajaj-finance-share-price-bear-ubs-upgrades-target-loan-growth-fy27-guidance-eps-banks-vs-nbfc-19996505.htm)
- 2026-09-23 — Economic Times: **Credit card issuers push EMI loans to counter revolver model misfire** — With a smaller share of customers carrying balances month to month, interest-bearing receivables are growing more slowly than transaction volumes, pushing issuers to convert purchases into EMIs, deepen personal loan-on-card offerings and extract more fee income from a business that is increasingly being used as a payment product rather than a borrowing product. — [Source](https://economictimes.indiatimes.com/markets/stocks/news/credit-card-issuers-push-emi-loans-to-counter-revolver-model-misfire/articleshow/134423370.cms)
- 2026-09-22 — Economic Times: **Credit card issuers push EMI loans to counter revolver model misfire** — With a smaller share of customers carrying balances month to month, interest-bearing receivables are growing more slowly than transaction volumes, pushing issuers to convert purchases into EMIs, deepen personal loan-on-card offerings and extract more fee income from a business that is increasingly being used as a payment product rather than a borrowing product. — [Source](https://economictimes.indiatimes.com/industry/banking/finance/credit-card-issuers-push-emi-loans-to-counter-revolver-model-misfire/articleshow/134419400.cms)
- 2026-09-15 — Economic Times: **Credit for the next 50 crore: How PhonePe’s new co-branded cards target India’s underserved** — 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. — [Source](https://economictimes.indiatimes.com/industry/banking/finance/credit-for-the-next-50-crore-how-phonepes-new-co-branded-cards-target-indias-underserved/articleshow/134264904.cms)
- 2026-09-07 — Economic Times: **Nifty Outlook: Analysts pick key levels and stocks to watch** — Nifty has experienced a decline for four straight weeks, breaking through the crucial 24,000 support level. Experts recommend adopting a market-neutral approach to capitalize on expected volatility. Among the stocks to watch are APL Apollo Tubes and One 97 Communications, which may offer promising returns. The Bank Nifty indicates upward trends, encouraging investors to buy on dips around 56,400. Additionally, Hindustan Oil Exploration Company and Engineers India present attractive opportunities... — [Source](https://economictimes.indiatimes.com/markets/stocks/news/nifty-extends-losing-streak-breaks-24000-support/articleshow/133859423.cms)
- 2026-09-02 — Economic Times: **'Revolver' misfire hits credit card issuers: India's credit card boom sees lower bank profits** — 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. — [Source](https://economictimes.indiatimes.com/industry/banking/finance/banking/revolver-misfire-hits-credit-card-issuers-indias-credit-card-boom-sees-lower-bank-profits/articleshow/133719476.cms)
- 2026-08-31 — CNBC-TV18: **Here's what transpired in today's CAS that triggered a 600-point jump on the Nifty Bank** — 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. — [Source](https://www.cnbctv18.com/market/nifty-bank-sees-sharp-upmove-in-cas-record-nse-turnover-msci-rebalancing-eternal-laurus-icici-axis-adani-share-price-19980557.htm)
- 2026-08-31 — BUSINESSTODAY: **SBI Card loses ground while ICICI rebounds: How India’s biggest card issuers performed in July** — SBI Card loses ground while ICICI rebounds: How India’s biggest card issuers performed in July — [Source](https://www.businesstoday.in/personal-finance/story/sbi-card-loses-ground-while-icici-rebounds-how-indias-biggest-card-issuers-performed-in-july-552259-2026-08-31)
- 2026-08-27 — Mint: **BIG DEAL | ICICI Prudential raises stake in SBI Cards and Payment Services to 7.30%** — 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. — [Source](https://www.livemint.com/market/stock-market-news/big-deal-icici-prudential-raises-stake-in-sbi-cards-and-payment-services-to-730-11787818758122.html)
- 2026-08-26 — CNBC-TV18: **SBI Card shares gain as July spend growth outpaces industry** — 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. — [Source](https://www.cnbctv18.com/market/sbi-card-shares-gain-as-july-spend-growth-outpaces-industry-19977489.htm)
- 2026-08-26 — Economic Times: **India adds 1.26 million credit cards in July as spending rises; HDFC, SBI lead the way** — 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 — [Source](https://economictimes.indiatimes.com/markets/stocks/news/india-adds-1-26-million-credit-cards-in-july-as-spending-rises-hdfc-sbi-lead-the-way/articleshow/133526854.cms)
- 2026-07-26 — Economic Times: **Cards continue to fly; credit goes to the big players** — The additions were led, once again, by the country's largest issuers. HDFC Bank topped the list, adding 163,000 net new credit cards and edging past SBI Cards, which added 162,000. ICICI Bank added 151,000 cards, while Federal Bank continued its strong momentum with 101,000 net new additions. — [Source](https://economictimes.indiatimes.com/industry/banking/finance/banking/cards-continue-to-fly-credit-goes-to-the-big-players/articleshow/132647421.cms)
- 2026-07-24 — The Hindu: **Q1 Results Today Live: Tata Consumer con. PAT up 28.4%, ACC PAT declines 61.5%, Shriram Finance, Hindustan Zinc, SBI Life, SBI Cards, Laurus Labs Q1 profit rise, BoB, NTPC, SAIL, KFin Tech to announce Q1 results** — Q1 Results Today, July 24, 2026, Live Updates: Follow businessline for more updates — [Source](https://www.thehindubusinessline.com/markets/fy27-q1-results-today-live-updates-shriram-finance-hindustan-zinc-dalmia-bharat-tata-consumer-jindal-steel-lodha-laurus-labs-sbi-life-cg-power-ntpc-infosys-indigo-cipla-results-24-july-2026/article71257341.ece)
- 2026-07-24 — CNBC-TV18: **SBI Card Q1 net profit rises 20% on lower provisions and 27% growth in card spends** — Shares of SBI Card and Payment Services Ltd ended at ₹618.95, down by ₹2.80, or 0.45%, on the BSE. — [Source](https://www.cnbctv18.com/market/stocks/sbi-cards-payment-services-share-price-q1-net-profit-rises-20-on-lower-provisions-and-27-growth-in-card-spends-19953502.htm)
- 2026-07-24 — CNBC-TV18: **Q1 Results LIVE Update: Bank of Baroda Q1 profit crashes 72% to ₹1,278 crore after ₹5,680 crore exceptional loss** — Q1 Results LIVE Updates: SBI Life, Shriram Finance Tata Consumer Products, NTPC, ACC, Atul, Bank of Baroda, Apar Industries, CG Power, CreditAccess Grameen, CONCOR, DCB Bank, Dalmia Bharat, Greenply Industries, Jindal Steel, Dr Lal Pathplabs, Kfin Tech, New India Assurance, Laurus Labs, Ramkrishna Forgings, Sapphire Foods, Shakti Pumps, SBI Cards, Sterlite Tech, V-Mart, Welspun Corp, are among the companies reporting their Q1 results today. Also watch for earnings reactions from Infosys, IndiGo and others. Stay tuned for all the LIVE earnings updates. — [Source](https://www.cnbctv18.com/market/q1-results-live-updates-infosys-indigo-shriram-finance-ntpc-tata-consumer-sbi-life-bob-boi-dcb-bank-concor-cg-power-share-price-liveblog-19952847.htm)

## Business profile

**Strategic vision:** Issues credit cards to consumers and corporations in India.

### Business segments
- **Consumer Credit Cards:** Offers a range of credit cards tailored to different spending segments, including lifestyle, premium, shopping, and cashback options.
- **Corporate Credit Cards:** Provides corporate card solutions designed to manage business travel expenses, procurement spending, and corporate utility payments.

### Competitive strengths
- Subsidiary of State Bank of India, leveraging its extensive branch network.

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## Freshness and sources

- Data as of: 2026-11-06
- Source: Faxioms public stock analysis API

Canonical: https://faxioms.com/stocks/sbicard
Markdown representation: https://faxioms.com/stocks/sbicard?render=md