SBI Cards and Payment Services Limited has informed the Exchange about Transcript
SBICARD · price
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SBI Card reported Q4 FY26 PAT of INR 609 crores (14% YoY) and full-year PAT of INR 2,167 crores (13% YoY). Revenue grew 7% YoY in Q4 to INR 5,187 crores. NIM improved to 11.1% in Q4 (31 bps higher for FY26), driven by 82 bps lower cost of funds at 6.4%. Asset quality improved significantly with GNPA down 46 bps QoQ to 2.41% and gross credit cost down 55 bps to 7.7%. The company added 917,000 new accounts (within guided 9 lakh-1 million range) and achieved INR 1.15 trillion in Q4 spends (31% YoY). Receivables grew only 2% YoY to INR 56,926 crores. Management retained INR 220 crores ECL overlay for geopolitical risks. Cost-to-income ratio was 57.2% in Q4 (impacted by higher corporate spends) and guided at 55-58% for FY27. Revolver rate at 22% expected to have slight downward bias.
Strong profitability and asset quality improvement are positives, but muted receivables growth (2% YoY) and elevated cost-to-income ratio (57%) remain concerns. Management targets ROA of 4-4.5% in medium term and expects credit costs to moderate further in FY27.