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Last Updated on: 25 July, 2024
Author: Getaka|Social: Getaka Financial Services X (Earlier Twitter) Profile Getaka Financial Services LinkedIn Logo

Fundamental Analysis of SBI Cards & Payment Services Ltd

Basic Stock Data

Last Updated: July 24, 2024, 10:39 pm

Market Cap 70,793 Cr.
Current Price 744
High / Low893/648
Stock P/E29.4
Book Value 127
Dividend Yield0.34 %
ROCE12.5 %
ROE22.0 %
Face Value 10.0
PEG Ratio2.13

Data Source: screener.in

Competitors of SBI Cards & Payment Services Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Enbee Trade & Finance Ltd 16.8 Cr. 11.730.2/9.9010.8 21.20.00 %7.94 %7.61 % 10.0
Elixir Capital Ltd 66.4 Cr. 114139/40.14.34 83.41.09 %36.8 %37.2 % 10.0
Elcid Investments Ltd 0.07 Cr. 3.533.53/3.370.00 5,84,329708 %2.02 %1.54 % 10.0
Ekam Leasing And Finance Co Ltd 5.46 Cr. 9.1010.0/4.098.66 14.80.00 %10.5 %7.34 % 5.00
Easy Fincorp Ltd 23.0 Cr. 939939/814 5920.00 %0.37 %1.23 % 10.0
Industry Average14,604.31 Cr664.7183.275,578.715.61%16.44%26.93%7.51

Quarterly Result

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
Revenue2,3192,3622,5762,8892,8503,1003,2973,5073,7623,9124,0874,6224,348
Interest244229254277267308368464507571605695724
Expenses1,9561,7791,9382,3071,9302,0742,3412,4672,5652,6312,7603,2582,811
Financing Profit119354385305653718588576690710722668813
Financing Margin %5%15%15%11%23%23%18%16%18%18%18%14%19%
Other Income14989119250166163156149154134134120127
Depreciation34334037393939414548475152
Profit before tax234410464519779841706684800797809738888
Tax %25%26%26%26%25%25%26%26%25%26%26%26%25%
Net Profit175305345386581627526509596593603549662
EPS in Rs1.873.243.664.096.166.655.575.396.306.276.375.786.97
Gross NPA %4.99%3.91%3.36%2.40%2.22%2.24%2.14%2.22%2.35%2.41%2.43%2.64%2.76%
Net NPA %1.55%0.88%0.91%0.83%0.78%0.79%0.78%0.80%0.87%0.89%0.89%0.96%0.99%

Last Updated: July 11, 2024, 8:13 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: July 25, 2024, 10:34 am

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Revenue1,0081,4381,8222,3923,3475,1957,0179,2819,30110,67913,67016,986
Interest2103003784365287121,0091,3011,0431,0271,6482,595
Expenses7139181,2551,6172,3663,7154,8876,6187,2237,9539,44411,460
Financing Profit852201893394527691,1211,3621,0341,6992,5792,931
Financing Margin %8%15%10%14%14%15%16%15%11%16%19%17%
Other Income527482100124175270471413622615498
Depreciation111152455104123149164197
Profit before tax1362932714385729191,3351,7301,3242,1723,0313,232
Tax %-1%0%1%35%35%35%35%28%26%26%25%25%
Net Profit1362932672843736018651,2459851,6162,2582,408
EPS in Rs1.743.733.403.624.757.6610.3313.2610.4717.1423.8725.32
Dividend Payout %0%0%15%28%21%0%10%8%0%15%10%10%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-2024
YoY Net Profit Growth (%)115.44%-8.87%6.37%31.34%61.13%43.93%43.93%-20.88%64.06%39.73%6.64%
Change in YoY Net Profit Growth (%)0.00%-124.31%15.24%24.97%29.79%-17.20%0.00%-64.81%84.94%-24.33%-33.08%

Growth

Compounded Sales Growth
10 Years:28%
5 Years:19%
3 Years:22%
TTM:24%
Compounded Profit Growth
10 Years:23%
5 Years:23%
3 Years:35%
TTM:7%
Stock Price CAGR
10 Years:%
5 Years:%
3 Years:-10%
1 Year:-15%
Return on Equity
10 Years:24%
5 Years:23%
3 Years:23%
Last Year:22%

Last Updated: July 25, 2024, 6:20 am

Balance Sheet

Last Updated: July 10, 2024, 9:33 pm

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Equity Capital785785785785785785837939941943946951
Reserves-332-391813706641,5682,7514,4025,3626,8108,88411,133
Borrowings2,8033,4984,6995,9288,26811,41313,54917,57317,89522,98231,11039,891
Other Liabilities2314915937971,0481,9203,0092,3932,8163,9134,6066,196
Total Liabilities3,4884,7356,2577,88010,76515,68620,14625,30727,01334,64845,54658,171
Fixed Assets112224242196311308439551542
CWIP0000035202410142322
Investments000000119581,2972,1403,519
Other Assets3,4874,7346,2567,87810,74115,40919,92824,97125,73732,89842,83254,088
Total Assets3,4884,7356,2577,88010,76515,68620,14625,30727,01334,64845,54658,171

Reserves and Borrowings Chart

Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity -398-879-1,158-2,235-2,891-2,327-4,063692-4,391-6,671-5,452
Cash from Investing Activity 111-1128-76-77-997-538-921-1,457
Cash from Financing Activity 4751,0081,1412,2442,9532,8243,9234325,0457,8248,401
Net Cash Flow78130-179190422-2181271152321,492

Free Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Free Cash Flow711.00915.00-3.00-4.00-6.00-8.00-9.00-11.00-10.00-15.00-22.00-28.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
ROE %49%31%27%29%32%29%28%17%23%26%22%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthJun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
Promoters69.50%69.37%69.47%69.59%69.64%69.41%69.05%69.02%68.96%68.94%68.75%68.63%
FIIs12.47%13.07%10.28%9.53%8.29%8.82%9.13%8.45%9.48%9.08%9.35%8.59%
DIIs6.69%9.71%11.92%12.41%16.24%16.99%16.72%17.47%17.17%17.28%16.27%16.68%
Public11.34%7.86%8.33%8.47%5.83%4.78%5.11%5.06%4.37%4.69%5.62%6.09%
No. of Shareholders11,18,64710,46,24911,40,58611,61,09011,78,35310,63,05410,57,26010,41,1689,67,5319,61,29610,28,67310,36,632

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
ICICI Prudential Multi Asset Fund9,344,8912.32709.884,099,3022024-07-23127.96%
Mirae Asset Large Cap Fund6,195,3111.24470.634,099,3022024-07-2351.13%
ICICI Prudential ELSS Tax Saver Fund5,317,7613.26403.964,099,3022024-07-2329.72%
ICICI Prudential Value Discovery Fund5,249,2961.06398.764,099,3022024-07-2328.05%
Mirae Asset Large & Midcap Fund5,121,2941.2389.044,099,3022024-07-2324.93%
Mirae Asset ELSS Tax Saver Fund4,389,6601.63333.464,099,3022024-07-237.08%
Nippon India Large Cap Fund4,099,3021.54311.44,099,3022024-07-230%
ICICI Prudential Large & Mid Cap Fund3,827,1452.83290.734,099,3022024-07-23-6.64%
Nippon India Focused Equity Fund3,796,5273.69288.44,099,3022024-07-23-7.39%
Nippon India Multi Cap Fund3,500,6571.08265.934,099,3022024-07-23-14.6%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)25.3923.9217.1610.4813.35
Diluted EPS (Rs.)25.3723.8017.0210.3813.21
Cash EPS (Rs.)27.3925.6018.7111.7814.36
Book Value[Excl.RevalReserv]/Share (Rs.)127.07103.9082.2067.0056.88
Book Value[Incl.RevalReserv]/Share (Rs.)127.07103.9082.2067.0056.88
Dividend / Share (Rs.)2.502.502.501.001.00
Revenue From Operations / Share (Rs.)178.43144.46113.2198.6498.79
PBDIT / Share (Rs.)63.3451.1835.5026.4833.38
PBIT / Share (Rs.)61.2749.4533.9225.1732.27
PBT / Share (Rs.)33.9832.0323.0314.0718.42
Net Profit / Share (Rs.)25.3223.8717.1410.4713.26
PBDIT Margin (%)35.4935.4231.3526.8433.78
PBIT Margin (%)34.3434.2329.9625.5132.66
PBT Margin (%)19.0422.1720.3414.2618.64
Net Profit Margin (%)14.1916.5215.1310.6113.41
Return on Networth / Equity (%)19.9222.9720.8415.6223.30
Return on Capital Employeed (%)42.2024.2235.6816.0822.49
Return On Assets (%)4.134.954.663.644.91
Long Term Debt / Equity (X)0.000.810.001.151.30
Total Debt / Equity (X)3.303.162.962.873.25
Asset Turnover Ratio (%)0.320.340.340.350.40
Current Ratio (X)1.261.651.282.072.01
Quick Ratio (X)1.261.651.282.072.01
Dividend Payout Ratio (NP) (%)0.0010.470.000.000.00
Dividend Payout Ratio (CP) (%)0.009.760.000.000.00
Earning Retention Ratio (%)0.0089.530.000.000.00
Cash Earning Retention Ratio (%)0.0090.240.000.000.00
Interest Coverage Ratio (X)2.322.943.262.392.41
Interest Coverage Ratio (Post Tax) (X)1.932.372.571.941.96
Enterprise Value (Cr.)102060.4199721.75102206.71104758.1074753.99
EV / Net Operating Revenue (X)6.017.309.5711.298.06
EV / EBITDA (X)16.9420.6030.5342.0623.85
MarketCap / Net Operating Revenue (X)3.825.127.529.426.26
Retention Ratios (%)0.0089.520.000.000.00
Price / BV (X)5.377.1210.3613.8710.87
Price / Net Operating Revenue (X)3.825.127.529.426.26
EarningsYield0.030.030.020.010.02

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value: 824.23

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

Undervalued: 10.78% compared to the current price 744

Intrinsic Value: 938.06

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators along with EPS growth.

Undervalued: 26.08% compared to the current price 744

Last 5 Year EPS CAGR: 13.81%

*Investments are subject to market risks

Strength and Weakness

Unable to fetch valid data for stock valuation.

Stock Analysis

  • Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in SBI Cards & Payment Services Ltd:
    1. Net Profit Margin: 14.19%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 42.20% (Industry Average ROCE: 16.44%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. ✗ ROE%: 19.92% (Industry Average ROE: 26.93%)
      • ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
    4. Interest Coverage Ratio (Post Tax): 1.93
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    5. Quick Ratio: 1.26
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    6. ✓ Stock P/E: 29.4 (Industry average Stock P/E: 83.29)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    7. ✗ Total Debt / Equity: 3.30
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
    Stock Rating:

About the Company

SBI Cards and Payment Services Ltd. is a Public Limited Listed company incorporated on 15/05/1998 and has its registered office in the State of Delhi, India. Company’s Corporate Identification Number(CIN) is L65999DL1998PLC093849 and registration number is 093849. Currently Company is involved in the business activities of Other financial activities. Company’s Total Operating Revenue is Rs. 10677.27 Cr. and Equity Capital is Rs. 943.18 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Non-Banking Financial Company (NBFC)Unit 401 & 402, 4th Floor, New Delhi Delhi 110034investor.relations@sbicard.com
https://www.sbicard.com
Management
NamePosition Held
Mr. Dinesh Kumar KharaChairman
Mr. Rama Mohan Rao AmaraManaging Director & CEO
Mr. Rajendra Kumar SarafIndependent Director
Mr. Dinesh Kumar MehrotraIndependent Director
Ms. Anuradha Shripad NadkarniIndependent Director
Dr. Tejendra Mohan BhasinIndependent Director
Mr. Shriniwas Yeshwant JoshiIndependent Director
Mr. Mihir Narayan Prasad MishraNominee Director

FAQ

What is the latest fair value of SBI Cards & Payment Services Ltd?

The latest fair value of SBI Cards & Payment Services Ltd is ₹824.23.

What is the Market Cap of SBI Cards & Payment Services Ltd?

The Market Cap of SBI Cards & Payment Services Ltd is 70,793 Cr..

What is the current Stock Price of SBI Cards & Payment Services Ltd as on 25 July 2024?

The current stock price of SBI Cards & Payment Services Ltd as on 25 July 2024 is 744.

What is the High / Low of SBI Cards & Payment Services Ltd stocks in FY 2024?

In FY 2024, the High / Low of SBI Cards & Payment Services Ltd stocks is 893/648.

What is the Stock P/E of SBI Cards & Payment Services Ltd?

The Stock P/E of SBI Cards & Payment Services Ltd is 29.4.

What is the Book Value of SBI Cards & Payment Services Ltd?

The Book Value of SBI Cards & Payment Services Ltd is 127.

What is the Dividend Yield of SBI Cards & Payment Services Ltd?

The Dividend Yield of SBI Cards & Payment Services Ltd is 0.34 %.

What is the ROCE of SBI Cards & Payment Services Ltd?

The ROCE of SBI Cards & Payment Services Ltd is 12.5 %.

What is the ROE of SBI Cards & Payment Services Ltd?

The ROE of SBI Cards & Payment Services Ltd is 22.0 %.

What is the Face Value of SBI Cards & Payment Services Ltd?

The Face Value of SBI Cards & Payment Services Ltd is 10.0.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in SBI Cards & Payment Services Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE