SBI CARDS & PAY SER LTD looks at bottom, Ready to change trend

7 days ago

Hello, Everyone I hope you all will be doing well in your life and your investing as well. Here I have brought a stock that looks at bottom and ready to change trend. SBI Cards & Payment Services Ltd is the name of the stock. CMP is 712. Its all time low is 495 and all time high is 1160. Strong support at 680. It made low 655 in June 22, low of 678 in march 24, low of 647 in June 24, low 659 in Oct 24 and 670 in Nov 24. But not closing below that. Upside target as per Fibbo 790, 850, 900, 950, 1040, 1150. Just an assumption. Please do you research. Not a suggestion of buying.

Source: Screener.in
SBI Cards & Payment Services Ltd
About
SBI Cards and Payment Services Limited is a non-deposit accepting systemically important nonbanking financial company registered with the RBI. The Company is engaged in issuing credit cards to consumers in India. It is headquartered in Gurgaon, Haryana. It is a subsidiary of India’s largest commercial bank, the State Bank of India.
Key Points
History
SBI Card was launched in 1998 by the State Bank of India and GE Capital. In December 2017, State Bank of India and The Carlyle Group acquired GE Capital`s stake in SBI Card.In March 2020, SBI Card became the first pure play credit card company to list on the stock exchanges in India.
Largest Credit Card Company
SBI Card, a subsidiary of the State Bank of India, is the largest pure-play credit card issuer in India.
Products
The company offers 3 types of cards: Super Premium (1 card), Core Cards ( 8 cards), and Co-Brand Cards (15 Cards in association with banks, retail and travel partners).
Market Share
Card in Force- 18.9% till Dec 23 compared to 19.1% in FY21
Spends- 18.3% till Dec 23 compared to 19.4% in FY21
Transaction- 17.1% till Dec 23 compared to 19.7% in FY21
Cards in forces stood at 1.85 Cr as on Dec 23 compared to 1.59 Cr as on Dec 22.
Revenue breakup Q3 FY24
Interest Income: 45% (vs 44% Q4 FY22)
Spend based: 29% (vs 26% Q4 FY22)
Subscription-based: 6% (vs 8% Q4 FY22)
Instance-based and others: 20% (vs 22% Q4 FY22)
NPA
Gross NPA: 2.64% in Q3FY24 (Increase 43 bps YoY)
Net NPA: 0.96% in Q3FY24 (Increase 16 bps YoY)
Borrowing Mix
The Co’s funds have diversified sources including Working Capital Demand Loan (69%), Debentures (12%), and Term loan (19%). The share of term loan has increased from 3% while share of NCD dropped from 30% since Dec 23.
New Cards Launches
SBI Cards recently partnered with Reliance Retail to launch Reliance SBI Card focused on lifestyle.
During FY23, the company launched Cashback SBI Card for cashback on all online spend, Aditya Birla SBI Card in partnership with Aditya Birla Finance Ltd for brands under Aditya Birla Group and PSB SBI Card partnered with Punjab & Sind Bank for premium segment.
Changes in KMP
Ahijit Chakravorty took charge as MD & CEO as Mr. Rama Mohan Rao Amara former MD & CEO resigned due to his transfer back to the State Bank of India on August 11, 2023.
Focus
Company will focus on acquiring cards across the diversified sourcing channels which includes open market and SBI customer base across both traditional point of sale as well as digital channels. It aims to increase its digital sourcing and has launched SBI Card SPRINT, an end-to-end digital application process for customers.

This is just to boost my confidence. No Suggestions for buying.

Disclosure: I am not SEBI registered. The information provided here is for educational purposes only. I will not be responsible for any of your profit/loss with these suggestions. Consult your financial advisor before making any decisions.