SBI Cards and Payment Services Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 29, 2025
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SBI Cards held its 27th Annual General Meeting on August 29, 2025, via video conferencing, where 9 resolutions were transacted. Key items included adoption of FY25 audited financial statements, confirmation of an interim dividend of Rs 2.50 per equity share (25%), approval of material related party transactions with State Bank of India and SBI Capital Markets, appointment of M/s Agarwal S. & Associates as Secretarial Auditors, and appointment of Mr. Rajnikant Patel as an Independent Director. The MD & CEO also presented the company's FY25 business update showing 21 million cards in force, 18% growth in retail spends to Rs 3,08,779 crore, and 7% growth in total income to Rs 18,637 crore, but a sharp 20% decline in profit after tax to Rs 1,916 crore. Asset quality worsened with GNPA rising to 3.08% and ROAE falling sharply from 21.7% to 14.6%.
Procedurally routine, but the FY25 highlights shared at the AGM reveal a worrying trend of profit compression (-20%), rising delinquencies, and sharply lower return ratios, which could pressure the stock despite the confirmed dividend and continued spend growth.