SBI Cards and Payment Services

Quick check

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• DebtHighest safetyRated AAA by 2 agencies.
• ResultsGrowingIn the Sep 2026 quarter, sales rose 3.6% and profit rose 75% from a year earlier.
• DilutionNo new sharesNo new shares issued in the last year, so existing shareholders' slices were not cut.
• PromotersSteadyThe promoters (founders or parent) own 69% of the company, about the same as in Sep 2025.
• ValuationCheap vs its pastThe share trades at 19.2 times its yearly earnings (P/E), cheaper than 100% of the time in the last 5 years. Its usual P/E is about 40.

SBI Cards and Payment Services against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.

• Valuation (P/E)19.2 against a typical 22.5: cheaper than most peers (1st = cheapest).125th of 284
• Sales growth+3.6% against a typical +18.3% from a year earlier.171st of 259
• Profit growth+74.8% against a typical +20.2% from a year earlier.57th of 214
• Share price, 3 months−17.9% against a typical −3.6%.208th of 257
• Size₹ 51,864.6 Cr. market value against a typical ₹ 43 Cr. (1st = largest).6th of 269

Exchange filings and their impact on the company.

• 29 Oct 2026Analysts/Institutional Investor Meet/Con. Call UpdatesHigh impactPositive
  Strong Q2 with 75% profit jump on record-low credit costs, with festive-led spend and receivables growth to drive next 12 months.

  SBI Card reported Q2 FY27 revenue of Rs 5,141 crore, up 4%, and net profit of Rs 778 crore, up 75%, as credit costs fell to 5.6% and gross bad loans dropped to 1.9%. Cards grew 8% to 2.32 crore and total spends reached Rs 1,10,689 crore, with retail spends at a record Rs 95,299 crore. Management expects festive demand to lift spends by mid-teens for the year and receivables to grow in the second half, while keeping margins stable despite higher borrowing costs.

  Full analysisFiling
• 28 Oct 2026Press ReleaseLow impactPositivePrice −0.1% that day
  SBI Card ties up with Air India and Visa for a new travel co-brand card, supporting premium sourcing.

  On 28 October 2026, SBI Card said it has partnered with Air India and Visa to launch a new co-branded credit card for Air India's Maharaja Club loyalty members. The card will offer travel and lifestyle benefits to tap Air India's frequent flyers, with Maharaja Club having added over 5 million members since 2024. SBI Card had about 2.32 crore cards in force as of September 2026. The launch is expected soon and should help SBI Card add premium customers and spends over the next year.

  Full analysisFiling
• 23 Oct 2026Outcome of Board MeetingHigh impactVery positivePrice −3.7% that day
  Q2 PAT jumped 75% YoY to Rs 778 cr as credit costs collapsed and NPAs fell sharply.

  SBI Cards reported Q2 FY27 net profit of Rs 777.6 crore, up 75% from a year ago, on total income of Rs 5,302 crore. Impairment charges fell to Rs 819 crore from Rs 1,293 crore last year, and gross NPA improved to 1.90% from 2.41% in March 2026. The sharp drop in credit costs and better asset quality point to significantly higher profitability ahead.

  Full analysisFiling
• 15 Oct 2026Press ReleaseLow impactPositivePrice +0.9% that day
  SBI Card launched Eternal co-brand card to add high-frequency retail spends with small near-term earnings lift.

  SBI Card and Eternal (formerly Zomato) launched the co-branded Eternal SBI Card, with early access from 15 October 2026 and phased availability from 22 October 2026. The card offers 10% instant discount on Zomato, District, Bistro and select Blinkit spends and 5% on other Blinkit spends capped at Rs 2000 per month, plus 5% cashback up to Rs 1000 per month on Uber, ixigo, Urban Company and Apollo 24/7, with Rs 499 joining and annual fee waived on Rs 2 lakh annual spends. The tie-up strengthens SBI Card's retail co-brand portfolio by tapping everyday food, quick-commerce and going-out spends, with meaningful scale only over multiple years.

  Full analysisFiling

Results dates and other board meetings. Full calendar

Compounded yearly rates over each period.

Listed companies in the same business.

Challa Sreenivasulu Setty

Chairman of the Board, Nominee Director

Salila Pande

Chief Executive Officer, Managing Director, Executive Director

Rashmi Mohanty

Executive Vice President, Chief Financial Officer

Saurav Ghosh

Chief Operating Officer

Pradeep Singh Khurana

Executive Vice President, Chief Information and Digital Officer

Girish Budhiraja

Executive Vice President, Chief Sales and Marketing Officer

Payal Mittal Chhabra

Executive Vice President, Chief Compliance Officer, Company Secretary

Manish Dewan

Executive Vice President, Head - Customer Services