Name: Latest research reports of SBI Cards and Payment Services Ltd. authored by ICICI Securities Limited and published by - Trendlyne research reports.
Item: SBI Cards and Payment Services Ltd.
Rating: 5
Author: ICICI Securities Limited

Summary	Date	Stock	Author	LTP	Target	Price at reco (Change since reco%)	Upside(%)	Type	Report	Discuss
	20 Sep 2025	SBI Cards and Payment	Consensus Share Price Target	871.65	879.00	-	0.84	hold	pdf Detailed Estimates
	30 Apr 2023	SBI Cards and Payment	ICICI Securities Limited	871.65	953.00	772.25 (12.87%)		Buy	pdf post cache	Broker Report NIM bottoming a profitability lever; supportive outlook on cost-to-income, credit cost offer comfort ICICI Securities Limited SBI Cards (SBIC) delivered strong PAT of Rs 6 bn in Q4FY23 and Rs22.6bn in FY23 representing 27% CAGR over the last 5 years. This is post the impact of external overhangs of declining NIMs, loss in fees due to implementation of RBI master circular issued in Oct’22 and the impact of covid. pdf Copy Link Share on Share on Share on Share on Alert
	29 Apr 2023	SBI Cards and Payment	BOB Capital Markets Ltd. Target	871.65	1050.00	772.25 (12.87%)		Buy	pdf post cache	Broker Report SBI Card (BUY): Positive surprise; maintain BUY BOB Capital Markets Ltd. Q4 PAT beat our estimate by 10% due to robust revenue (+32% YoY), partially offset by higher credit cost (+60% YoY) pdf Copy Link Share on Share on Share on Share on Alert
	29 Apr 2023	SBI Cards and Payment	Motilal Oswal Target	871.65	930.00	772.25 (12.87%)	Target met	Buy	pdf post cache	Broker Report Growth in spends healthy; margins moderate slightly Motilal Oswal pdf Copy Link Share on Share on Share on Share on Alert
	23 Mar 2023	SBI Cards and Payment	ICICI Securities Limited Target	871.65	953.00	720.20 (21.03%)		Buy	pdf post cache	Broker Report Valuations appear attractive in light of promising business potential beyond external overhangs ICICI Securities Limited There is no change in the business prowess of SBI Cards (SBIC) considering the spends growth and its relative market share in CIF/spends. However, there were external overhangs of declining NIMs and loss in fees due to implementation of RBI master circular. pdf Copy Link Share on Share on Share on Share on Alert
	25 Jan 2023	SBI Cards and Payment	BOB Capital Markets Ltd. Target	871.65	1034.00	715.10 (21.89%)		Buy	pdf post cache	Broker Report SBI Card (BUY): Higher costs continue to dent profitability BOB Capital Markets Ltd. Q3 PAT missed our estimate by 8% due to increased funding costs and high operating expenses pdf Copy Link Share on Share on Share on Share on Alert
	25 Jan 2023	SBI Cards and Payment	ICICI Securities Limited Target	871.65	1040.00	715.10 (21.89%)		Buy	pdf post cache	Broker Report Receivable mix disappointment continues; expect earnings print to improve hereon 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. pdf Copy Link Share on Share on Share on Share on Alert
	24 Jan 2023	SBI Cards and Payment	Motilal Oswal Target	871.65	960.00	745.00 (17.00%)		Buy	pdf post cache	Broker Report Margins remain under pressure; asset quality deteriorates slightly Motilal Oswal pdf Copy Link Share on Share on Share on Share on Alert
	12 Dec 2022	SBI Cards and Payment	Motilal Oswal	871.65	1000.00	798.05 (9.22%)		Buy	pdf post cache	Broker Report Spends momentum healthy; margin, revolve rate to undergo lagged recovery Motilal Oswal pdf Copy Link Share on Share on Share on Share on Alert
	07 Nov 2022	SBI Cards and Payment	Geojit BNP Paribas Target	871.65	927.00	812.35 (7.30%)	Target met	Buy	pdf post cache	Broker Report SBI CARDS AND PAYMENT SERVICES LIMITED Geojit BNP Paribas pdf Copy Link Share on Share on Share on Share on Alert
	31 Oct 2022	SBI Cards and Payment	ICICI Securities Limited Target	871.65	1105.00	810.30 (7.57%)		Buy	pdf post cache	Broker Report Lag between cost and revenue cycles is business characteristic; does not change earnings expectations ICICI Securities Limited SBI Cards (SBIC) reported 16% QoQ dip in PAT primarily on account of decrease in revolver mix, higher cost-to-income ratios and higher credit costs. pdf Copy Link Share on Share on Share on Share on Alert
more loading

32.11% Gain from 52W Low

SBI Cards and Payment Services Ltd. share price target

SBI Cards and Payment Services Ltd. has an average share price target of 904.25. The consensus estimate represents an upside of 3.74% from the last price of 871.65. View 6 reports from 4 analysts offering long-term price targets for SBI Cards and Payment Services Ltd..

NIM bottoming a profitability lever; supportive outlook on cost-to-income, credit cost offer comfort

SBI Card (BUY): Positive surprise; maintain BUY

Growth in spends healthy; margins moderate slightly

Valuations appear attractive in light of promising business potential beyond external overhangs

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

Receivable mix disappointment continues; expect earnings print to improve hereon

Margins remain under pressure; asset quality deteriorates slightly

Spends momentum healthy; margin, revolve rate to undergo lagged recovery

SBI CARDS AND PAYMENT SERVICES LIMITED

Lag between cost and revenue cycles is business characteristic; does not change earnings expectations

Advisor Screeners