SBI Cards and Payment Services Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for SBICARD, BSE:543066 SBI Cards and Payment Services Ltd.

SBI Cards and Payment Services Ltd.

25 Jan 2023

991.35

1.65%

HSIE Results Daily: Maruti Suzuki, SBI Cards and Payment Services, TVS Motor, Colgate Palmolive, Supreme Industries, Sonata Software, Zensar Technologies

Buy: SBI Cards and Payment Serv...

Target

HDFC Securities

Supreme Industries: We maintain ADD on Supreme Industries (SIL) with an unchanged TP of INR 2,580/share (SOTP-based). Supreme reported healthy performance in Q3FY23, driven by a strong volume uptick (in pipes and industrial segments) and stabilisation in resin prices. The pipe segment margin was 13.5% in Q3 (suffered 2% due to inventory loss); in Q4, an inventory gain is expected. For FY23, SIL has increased its overall volume growth guidance to 25% (pipes: ~35%) with a ~12.5% EBITDA margin. We expect the recent cool-off in resin prices (which is getting passed on) to boost demand. Sonata Software: Sonata delivered a better-than-expected IT services (IITS) growth (+3.9% QoQ CC) and investments in the business will sustain the momentum. The growth was led by Microsoft (ISV and Dynamics) and deal ramp-up. The management remains optimistic and plans to double IITS revenue (hit half a billion) in four years (organic CAGR of ~15%), supported by higher investments in new verticals and geographies and expanding partnerships beyond Microsoft. The focus is to pivot to large annuity-based managed services contracts and build a large deal pipeline; the recent deal wins indicate improved sales focus. The IITS EBITDA margin contracted 172bps QoQ to 21.8% (missed estimate) due to investments. The margins will continue to be under pressure due to wage hikes (Q4) and continued sales investments; the operating leverage will be visible in H2FY24E. DPS growth was strong (+21% YoY), supported by growth in cloud licenses and annuity revenue. We increase our IITS revenue estimate by 4/5% for FY24/25E but lower IITS...

SBI Cards and Payment Services Ltd. is trading at high day volume of 10.0M.

SBI Cards and Payment Services Ltd.

25 Jan 2023

991.35

1.65%

HSIE Results Daily: Maruti Suzuki, SBI Cards and Payment Services, TVS Motor, Colgate Palmolive, Supreme Industries, Sonata Software, Zensar Technologies

Buy: SBI Cards and Payment Serv...

HDFC Securities

Number of FII/FPI investors increased from 542 to 584 in Mar 2025 qtr.

SBI Cards and Payment Services Ltd.

25 Jan 2023

991.35

1.65%

SBI Card (BUY): Higher costs continue to dent profitability

Buy: SBI Cards and Payment Serv...

Target

BOB Capital Markets Ltd.

Q3 PAT missed our estimate by 8% due to increased funding costs and high operating expenses

SBI Cards and Payment Services Ltd. is trading at high day volume of 10.0M.

SBI Cards and Payment Services Ltd.

25 Jan 2023

991.35

1.65%

Receivable mix disappointment continues; expect earnings print to improve hereon

Buy: SBI Cards and Payment Serv...

Target

ICICI Securities Limited

SBI Cards (SBIC) reported 3% QoQ dip in PAT in Q3FY23 primarily on account of lower NIMs (subdued revolver mix and higher cost of funds), lower instance-based fees (removal of Over-limit (OVL) fees) and higher cost to income (higher acquisitions and more corporate spends) partially offset by lower credit cost.