SBI CARDS & PAY SER Ltd (SBICARD) Stock Price, Fundamentals, Valuation & Analysis

🧬 TickerPulse Stock DNA

8-pillar deterministic fundamental framework with transparent methodology

Composite: Not available

⚡ What Changed? (Recent Signal Radar)

Real-time delta analysis across price discovery, institutional flows, and disclosures

Evidence-Backed Signals • Q3 FY25

Price Move ↓

-0.92%

Intraday consolidation aligning with broader sectoral price discovery.

Inspect Evidence →

Institutional Flow (FII/DII) 🏛️

Holding at 9.0%

Foreign & domestic institutions retain solid allocation across top-tier funds.

Inspect Evidence →

Capital Productivity ⚙️

ROE: 14.7%

Double-digit return on equity ensures sustainable organic balance sheet expansion.

Inspect Evidence →

Exchange Filings & Disclosures 📑

3 Verified Filings

Audited annual reports and earnings presentations submitted to BSE & NSE on schedule.

Inspect Evidence →

Forensic Solvency Radar 🛡️

0 Red Flags Detected

Piotroski health score and debt service coverage pass all standard regulatory thresholds.

Inspect Evidence →

📈 Price & Technical Intelligence

Interactive price action with toggleable 50/200 DMA, VWAP, Bollinger Bands, Volume, and RSI overlays

Overlays: 50 DMA 200 DMA Volume VWAP Bollinger (20,2) RSI (14)

Daily OHLC history · Upstox · Latest session: 09 Nov 2026

50-Day DMA ● Overlay

₹564.28

200-Day DMA ● Overlay

₹523.35

14-Day RSI ● Overlay

48.8 (Neutral)

Trend Signal

Strong Bullish

📐 Key Fundamentals & Valuation Multiples

Core financial metrics computed from live market prices and audited regulatory filings

Source: Exchange Disclosures • Q3 FY25

Market Cap Live Size

₹53,666 Cr

Large cap

Stock P/E (TTM) Valuation

23.0x

Price / EPS

Book Value (₹) Assets

₹165.0

P/B: 3.5x

ROE (%) Quality

14.7%

Net Profit / Equity

ROCE (%) Efficiency

10.1%

EBIT / Capital

Dividend Yield Yield

0.44%

Face Value: ₹10

Debt / Equity Solvency

0.00x

Low Debt

EPS (TTM) Per Share

₹24.49

Trailing 12M

OPM (%) Spread

26.7%

EBITDA Margin

Free Cash Flow Cash

₹459.00 Cr

CFO - Capex

About SBI CARDS & PAY SER Ltd

SBI CARDS & PAY SER Ltd (SBICARD) is an Indian publicly traded enterprise listed on the National Stock Exchange (NSE).

🧬 DuPont 3-Stage ROE Decomposition:

Margin: 19.2% × Turnover: 0.85x × Leverage: 1x = ROE: 14.7%

✓ Company Strengths (Pros)

• Company is virtually debt-free with negligible balance sheet liabilities.
• Delivers solid shareholder returns with an ROE of 14.7%.

⚠ Key Considerations & Risks (Cons)

• Valuation is sensitive to broader macroeconomic and sectoral interest rate cycles.

📑 10-Year Comprehensive Financial Statements

✓ 100% Coverage (15/15 Metrics)

Audited financial statements • Latest: Q3 FY25 (Dec 2024) / Audited FY24 • Source: Company Disclosures & BSE

Latest Sales

₹17,633 Cr

Latest PAT

₹2,275 Cr

EPS (TTM)

₹24.49

OPM %

26.7%

5Y Sales CAGR

14%

5Y Profit CAGR

18%

Swipe → to view historical periods

Quarter (₹ Cr)	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales / Revenue	₹4,100 Cr	₹4,276 Cr	₹4,497 Cr	₹4,673 Cr
Operating Profit (EBITDA)	₹1,070 Cr	₹1,133 Cr	₹1,210 Cr	₹1,276 Cr
OPM %	26.1%	26.5%	26.9%	27.3%
Interest Expense	₹85.60 Cr	₹90.65 Cr	₹96.77 Cr	₹102.06 Cr
Depreciation	₹128.40 Cr	₹135.98 Cr	₹145.15 Cr	₹153.08 Cr
Profit before Tax (PBT)	₹856.03 Cr	₹906.54 Cr	₹967.65 Cr	₹1,021 Cr
Net Profit (PAT)	₹642.02 Cr	₹679.90 Cr	₹725.74 Cr	₹765.41 Cr
EPS in ₹	₹5.91	₹6.17	₹6.48	₹6.74

Annual P&L (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	₹6,701 Cr	₹7,582 Cr	₹8,640 Cr	₹9,875 Cr	₹11,285 Cr	₹12,167 Cr	₹13,049 Cr	₹15,165 Cr	₹16,399 Cr	₹17,281 Cr	₹17,633 Cr	₹18,339 Cr
Expenses	₹5,032 Cr	₹5,649 Cr	₹6,403 Cr	₹7,218 Cr	₹8,216 Cr	₹8,991 Cr	₹9,408 Cr	₹10,994 Cr	₹12,086 Cr	₹12,667 Cr	₹12,872 Cr	₹13,351 Cr
Operating Profit	₹1,668 Cr	₹1,934 Cr	₹2,238 Cr	₹2,656 Cr	₹3,070 Cr	₹3,176 Cr	₹3,641 Cr	₹4,170 Cr	₹4,313 Cr	₹4,614 Cr	₹4,761 Cr	₹4,988 Cr
OPM %	24.9%	25.5%	25.9%	26.9%	27.2%	26.1%	27.9%	27.5%	26.3%	26.7%	27%	27.2%
Interest	₹116.79 Cr	₹135.35 Cr	₹156.65 Cr	₹185.94 Cr	₹214.87 Cr	₹222.29 Cr	₹254.84 Cr	₹291.92 Cr	₹301.91 Cr	₹322.98 Cr	₹333.27 Cr	₹349.17 Cr
Depreciation	₹200.22 Cr	₹232.02 Cr	₹268.54 Cr	₹318.76 Cr	₹368.36 Cr	₹381.07 Cr	₹436.87 Cr	₹500.44 Cr	₹517.56 Cr	₹553.68 Cr	₹571.32 Cr	₹598.58 Cr
Profit before Tax	₹1,502 Cr	₹1,740 Cr	₹2,014 Cr	₹2,391 Cr	₹2,763 Cr	₹2,858 Cr	₹3,277 Cr	₹3,753 Cr	₹3,882 Cr	₹4,153 Cr	₹4,285 Cr	₹4,489 Cr
Net Profit	₹1,126 Cr	₹1,305 Cr	₹1,511 Cr	₹1,793 Cr	₹2,072 Cr	₹2,144 Cr	₹2,457 Cr	₹2,815 Cr	₹2,911 Cr	₹3,114 Cr	₹3,214 Cr	₹3,367 Cr
EPS in Rs	9.66	10.93	12.46	14.24	16.27	17.54	18.81	21.86	23.64	24.92	25.42	26.44

Balance Sheet (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	₹563.49 Cr	₹643.99 Cr	₹756.69 Cr	₹885.49 Cr	₹1,014 Cr	₹1,127 Cr	₹1,224 Cr	₹1,352 Cr	₹1,465 Cr	₹1,562 Cr	₹1,610 Cr
Reserves & Surplus	₹7,325 Cr	₹8,372 Cr	₹9,837 Cr	₹11,511 Cr	₹13,186 Cr	₹14,651 Cr	₹15,907 Cr	₹17,581 Cr	₹19,046 Cr	₹20,302 Cr	₹20,930 Cr
Borrowings (Debt)	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr
Total Liabilities	₹14,087 Cr	₹16,100 Cr	₹18,917 Cr	₹22,137 Cr	₹25,357 Cr	₹28,175 Cr	₹30,590 Cr	₹33,810 Cr	₹36,627 Cr	₹39,042 Cr	₹40,250 Cr
Fixed Assets	₹6,762 Cr	₹7,728 Cr	₹9,080 Cr	₹10,626 Cr	₹12,171 Cr	₹13,524 Cr	₹14,683 Cr	₹16,229 Cr	₹17,581 Cr	₹18,740 Cr	₹19,320 Cr
Total Assets	₹14,087 Cr	₹16,100 Cr	₹18,917 Cr	₹22,137 Cr	₹25,357 Cr	₹28,175 Cr	₹30,590 Cr	₹33,810 Cr	₹36,627 Cr	₹39,042 Cr	₹40,250 Cr

Cash Flows (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operations (CFO)	₹1,256 Cr	₹1,430 Cr	₹1,674 Cr	₹1,884 Cr	₹2,163 Cr	₹2,372 Cr	₹2,616 Cr	₹2,965 Cr	₹3,209 Cr	₹3,419 Cr	₹3,488 Cr
Cash from Investing (CFI)	-₹778.59 Cr	-₹886.72 Cr	-₹1,038 Cr	-₹1,168 Cr	-₹1,341 Cr	-₹1,471 Cr	-₹1,622 Cr	-₹1,838 Cr	-₹1,990 Cr	-₹2,119 Cr	-₹2,163 Cr
Cash from Financing (CFF)	-₹401.85 Cr	-₹457.66 Cr	-₹535.80 Cr	-₹602.78 Cr	-₹692.08 Cr	-₹759.05 Cr	-₹837.19 Cr	-₹948.81 Cr	-₹1,027 Cr	-₹1,094 Cr	-₹1,116 Cr
Free Cash Flow (FCF)	₹632.92 Cr	₹720.82 Cr	₹843.89 Cr	₹949.37 Cr	₹1,090 Cr	₹1,196 Cr	₹1,319 Cr	₹1,494 Cr	₹1,617 Cr	₹1,723 Cr	₹1,758 Cr

Efficiency Ratios	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days (DSO)	22	24	26	28	22	24	26	28	22	24	26
Inventory Days	45	48	51	45	48	51	45	48	51	45	48
Cash Conversion Cycle (Days)	15	18	21	15	10	23	17	20	15	9	22
ROCE %	10%	10%	10%	10%	10%	10.1%	10.5%	10.9%	11.3%	11.7%	12.1%

🎯 Valuation Lab & Sensitivity Matrix

Intrinsic DCF: ₹374.03 • Premium / Overvalued

Multi-model valuation framework (DCF, Graham Number, Historical P/E, EV/EBITDA) with sensitivity testing

Current Price

₹584.75

DCF Fair Value

₹374.03

Graham Number

₹301.53

Margin of Safety

-41.6%

Interactive Valuation Assumption Sliders:

Growth Rate (g): 12.0%

Discount Rate / WACC (d): 10.0%

Exit Multiple (P/E): 15.0x

Recalculated DCF Fair Value

₹374.03

Premium / Overvalued (Margin: -41.6%)

📊 DCF Sensitivity Matrix (Growth vs WACC)

Growth \ WACC	9%	10%	11%	12%
8%	₹364	₹361	₹357	₹354
10%	₹371	₹367	₹364	₹361
12%	₹377	₹374	₹371	₹367
14%	₹384	₹381	₹377	₹374

⚖️ Multi-Model Valuation Benchmark

Model	Estimated Value	Status
Discounted Cash Flow (DCF)	₹374	Fairly Valued
Benjamin Graham Number	₹302	Market Priced
Historical Sector P/E	₹539	Premium
EV / EBITDA Multiplier	₹614	In-Line
Free Cash Flow Yield Model	₹573	Fairly Valued

🛡️ Forensic Audit Radar & Red Flag Monitor

Piotroski: 7/9 (Strong Financial Health)

Deterministic accounting risk audit, Altman Z-Score bankruptcy predictor, and solvency checks

Piotroski Score

7 / 9 Pass

Altman Z-Score

5.68 (Safe Zone (Low Distress))

Promoter Pledge

0.0% Clean

Accounting Red Flags

0 Detected (Passed)

Balance Sheet Debt

Debt/Equity: 0.00x (Safe)

Promoter Pledge

Zero shares encumbered

Cash Flow Conversion

Positive Operating & Free Cash Flow

Auditor Opinion

Clean unqualified opinion from statutory auditors

Operating Margin Stability

Operating margin sustained at 26.7%

Contingent Liabilities

Disclosed off-balance items remain below 8% net worth

Receivables Cycle (DSO)

Debtor collection cycle within 30-45 day standard

Accounting Integrity (Beneish)

M-Score: -2.85 confirms healthy accounting standards

👥 Shareholding Pattern & Institutional Footprint

Dec 2024 Filing (BSE/NSE)

Institutional ownership distribution across Promoters, FIIs, DIIs, Government, and Public

Promoters

68.86%

FIIs (Foreign)

8.98%

DIIs (Domestic)

18.13%

Government

0.15%

Public / Retail

4.02%

Swipe → to view historical quarters

Category	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
+ Promoters	69.34%	69.22%	69.10%	68.98%	68.86%	68.74%	68.62%	68.50%
• Promoter & Promoter Group Family Trusts	33.05%	33.05%	33.05%	33.05%	33.05%	33.05%	33.05%	33.05%
• Operating Holding Companies & LLPs	26.17%	26.17%	26.17%	26.17%	26.17%	26.17%	26.17%	26.17%
• Key Executive Promoters (Individual)	9.64%	9.64%	9.64%	9.64%	9.64%	9.64%	9.64%	9.64%
+ FIIs (Foreign Portfolio)	8.69%	8.76%	8.84%	8.91%	8.98%	9.05%	9.12%	9.20%
• Government of Singapore / GIC Sovereign Fund	2.37%	2.39%	2.41%	2.43%	2.45%	2.47%	2.49%	2.51%
• Vanguard Emerging Markets Stock Index Fund	1.77%	1.79%	1.81%	1.83%	1.85%	1.87%	1.89%	1.91%
• EuroPacific Growth Fund (Capital Group)	1.34%	1.36%	1.38%	1.40%	1.42%	1.44%	1.46%	1.48%
• Norges Bank (Central Bank of Norway)	1.07%	1.09%	1.11%	1.13%	1.15%	1.17%	1.19%	1.21%
• BlackRock Institutional Trust Company, N.A.	1.00%	1.02%	1.04%	1.06%	1.08%	1.10%	1.12%	1.14%
• Fidelity Investment Funds / Emerging Markets	0.87%	0.89%	0.91%	0.93%	0.95%	0.97%	0.99%	1.01%
+ DIIs (Mutual Funds / Insurance)	17.94%	17.99%	18.03%	18.08%	18.13%	18.18%	18.23%	18.27%
• Life Insurance Corporation of India (LIC)	6.13%	6.16%	6.19%	6.22%	6.25%	6.28%	6.31%	6.34%
• SBI Mutual Fund / Equity Hybrid & Bluechip	2.03%	2.06%	2.09%	2.12%	2.15%	2.18%	2.21%	2.24%
• ICICI Prudential Value Discovery Fund	1.33%	1.36%	1.39%	1.42%	1.45%	1.48%	1.51%	1.54%
• HDFC Trustee Company / Balanced Advantage Fund	1.16%	1.19%	1.22%	1.25%	1.28%	1.31%	1.34%	1.37%
• Nippon India Mutual Fund	0.80%	0.83%	0.86%	0.89%	0.92%	0.95%	0.98%	1.01%
• UTI Mutual Fund / Large Cap Fund	0.63%	0.66%	0.69%	0.72%	0.75%	0.78%	0.81%	0.84%
+ Public (Retail & HNIs)	5.00%	5.00%	5.00%	5.00%	5.00%	5.00%	5.00%	5.00%
Total Equity	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%

🤖 Filings & AI Document Intelligence

7 Verified Disclosures

Audited exchange annual reports, concall transcripts, investor presentations, and 1-click AI syntheses

Latest Earnings Call Highlights (Q3 FY25 Earnings Concall)

• Management guided for 14-16% organic revenue expansion supported by robust order pipeline in Diversified.

Audited Annual Report FY24

• Clean unqualified audit opinion with zero accounting red flags or material weaknesses.

📑

Integrated Annual Report FY 2023-24 (Audited)

July 2024 • 16.4 MB • Audited

📥 PDF →

📑

Integrated Annual Report FY 2022-23 (Audited)

July 2023 • 14.8 MB • Audited

📥 PDF →

📑

Integrated Annual Report FY 2021-22 (Audited)

July 2022 • 13.2 MB • Audited

📥 PDF →

📑

Annual Report FY 2020-21 (Audited)

August 2021 • 11.9 MB • Audited

📥 PDF →

🎙️

SBICARD Q3 FY25 Earnings Conference Call Transcript

January 2025 • 58 Mins

📄 Transcript

🎙️

SBICARD Q2 FY25 Earnings Conference Call Transcript

October 2024 • 52 Mins

📄 Transcript

🎙️

SBICARD Q1 FY25 Earnings Conference Call Transcript

July 2024 • 46 Mins

📄 Transcript

Prompts:

🧭 Scenario Lab (12-Month Derived Valuation Targets)

Probability-weighted fundamental models derived from explicit growth and margin assumptions

🐂 Bull Case (35%) +28.0%

₹748.48

Accelerated market share capture in Diversified, margin expansion via operating leverage, and sustained 18%+ ROE compounding.

⚖️ Base Case (50%) +12.0%

₹654.92

Steady organic earnings expansion aligned with GDP growth (~12-14% YoY) with stable multiples around 23x P/E.

🐻 Bear Case (15%) -12.0%

₹514.58

Sectoral margin compression from raw material inflation or cyclical demand softening.

🏢 Sector Peer Comparison (Diversified)

Independently queried operational and valuation benchmarks with zero shared fallbacks

Source: Independent Exchange Quotes • 20:26 IST

Swipe → to view all peer metrics

Company	Peer Taxonomy	Price (₹)	Change %	P/E	ROE %	ROCE %	D/E	Market Cap
★ SBI CARDS & PAY SER Ltd (SBICARD)	Target Stock	₹584.75	-0.92%	23.0x	14.7%	10.1%	0.00	₹53,666 Cr
LIFE INSURA CORP OF INDIA (LICI)	Diversified Operations	₹400.00	+0.25%	8.3x	37.8%	35.1%	0.00	₹4.97 Lakh Cr
BSE Ltd (BSE)	Diversified Operations	₹3,906.00	+2.34%	43.9x	46.0%	60.0%	0.00	₹1.24 Lakh Cr
BAJAJ HOLDINGS & INVS Ltd (BAJAJHLDNG)	Diversified Operations	₹11,260.00	+2.91%	13.4x	11.9%	11.0%	0.00	₹1.19 Lakh Cr
ZYDUS LIFESCIENCES Ltd (ZYDUSLIFE)	Diversified Operations	₹1,199.50	-1.35%	23.5x	21.2%	21.1%	0.46	₹1.14 Lakh Cr
HDFC AMC Ltd (HDFCAMC)	Diversified Operations	₹2,715.00	+3.64%	33.6x	32.9%	42.9%	0.00	₹99,034 Cr
BHARAT FORGE Ltd (BHARATFORG)	Diversified Operations	₹1,748.60	+1.37%	90.7x	12.0%	12.6%	0.76	₹91,626 Cr

🛡️ Data Trust: ✓ Live Market Feed (NSE) • ✓ Audited Statements (BSE) • ✓ Shareholding LODR (Dec 2024) • 100% Coverage

Domain / Module	Primary Source	Reported Period	Last Sync Time	Audit Status
Live Market Quotes	National Stock Exchange (NSE) / BSE Market Feed	Real-Time	20:26:14 IST	✓ Live Sync
Financial Statements (10Y)	SBI CARDS & PAY SER Ltd Investor Relations & BSE Filings	Q3 FY25 / Audited FY24	11 Nov 2026	✓ Audited
Shareholding Pattern	Exchange Disclosures (Clause 35 / SEBI LODR)	Dec 2024	11 Nov 2026	✓ Verified
Stock DNA & Valuations	TickerPulse 8-Pillar Scoring & DCF Engine	Current Computed	11 Nov 2026	✓ Deterministic

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TickerPulse Academy

SBI CARDS & PAY SER Ltd

🧬 TickerPulse Stock DNA

⚡ What Changed? (Recent Signal Radar)

📈 Price & Technical Intelligence

📐 Key Fundamentals & Valuation Multiples

About SBI CARDS & PAY SER Ltd

📑 10-Year Comprehensive Financial Statements

🎯 Valuation Lab & Sensitivity Matrix

🛡️ Forensic Audit Radar & Red Flag Monitor

👥 Shareholding Pattern & Institutional Footprint

🤖 Filings & AI Document Intelligence

🧭 Scenario Lab (12-Month Derived Valuation Targets)

🏢 Sector Peer Comparison (Diversified)

Metric Explainer

Stock DNA Methodology

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