SBI Card Q4FY22 result shows new account grew 27% in YoY and Profit up by 231% to ₹580 Cr YoY

The Gross non-performing assets were at 2.22% of gross advances as on March 31, 2022, as against 4.99% as on March 31, 2021. Net non-performing assets were at 0.78% as against 1.15% as on March 31, 2021.

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SBI Card was launched in October 1998 by the State Bank of India and GE Capital. Incorporated as SBI Cards and Payment Services Private Limited (SBICPSL), SBI Card is headquartered in Gurgaon, Haryana.

In December 2017, State Bank of India and The Carlyle Group acquired GE Capital’s stake in SBI Card. The company changed its legal name to SBI Cards and Payments Services Limited in August 2019. In March 2020, SBI Card became the first pure play credit card company to list on the stock exchanges in India. The company has posted its Q4FY22 and year ended financial results today, the details are as below :

(I) Audited Consolidated Financial Results for Quarter Ended (YoY comparison):

The company has reported, a consolidated Total Income of ₹3,016.10 crore in the quarter ended on March 31, 2022 as against ₹2,468.14 crore in the corresponding quarter ended last year on Mar 31, 2021, increased by 22.20%.

The company has posted a consolidated Net Profit of ₹580.86 crore in the quarter ended on March 31, 2022 as against ₹175.42 crore in the corresponding quarter ended in last year on Mar 31, 2021. The PAT surges up by 231.13%.

The status of the EPS of the company stood at ₹6.11 as on March 31, 2022 compared to the previous quarter ended on Mar 31, 2021 which was ₹1.85, up by 230.27%.

₹*Mar 31, 2022 (Q4FY22)Dec 31, 21 (Q3FY22)Mar 31, 21 (Q4)
Total Income3,016.103139.662,468.14
Total Expenses2236.882621.142733.74
PBT /(Loss)779.22518.52234.40
Total Tax /(credit)198.36132.7458.98
PAT /(Loss) [to the owners]580.86385.78175.42
*figures are in Crores

(II) Audited Consolidated Financial Result details for the Year Ended :

The company has reported, a consolidated Total Income of ₹11,301.52 crore in the financial year ended on March 31, 2022 as against ₹9,713.58 crore for the financial year ended on Mar 31, 2021, increased by 16.35%.

The company has posted a consolidated Net Profit of ₹1,616.14 crore in the financial year ended on March 31, 2022 as against ₹984.52 crore for the financial year ended on March 31, 2021. The PAT surges up by 64.16%.

The status of the EPS of the company stood at ₹17.02 as on March 31, 2022 compared to the previous year ended on March 31, 2021 which was ₹10.38, up by 63.97%.

₹*Mar 31, 2022 (FY22)Mar 31, 2021 (FY21)
Total Income11,301.529,713.58
Total Expenses9129.368389.85
PBT /(Loss)2172.161323.73
Total Tax /(credit)556.02339.21
PAT /(Loss)1,616.14984.52
*figures are in Crores
Market Times

(III) Key Highlights about the Performance :

Q4 FY22
• ROAA at 7.0% for Q4 FY22 vs. 2.6% for Q4 FY21
• ROAE at 30.4% for Q4 FY22 vs. 11.2% for Q4 FY21
• Capital Adequacy Ratio at 23.8%. Tier-1 at 21.0%

• New accounts volume at 1,002 thousand for Q4 FY22 up by 27% as compared to 791 thousand for Q4 FY21.
• Card-in-force grew by 16% to 1.38 Cr as of Q4 FY22 vs 1.18 Cr as of Q4 FY21.
• Total spends grew by 51% to ₹ 54,134 Cr in Q4 FY22 vs ₹ 35,943 Cr in Q4 FY21.
• Market share FY22 (till Feb’22) – Card-in-force at 18.9% (FY21: 19.1%), the company Spends at 19.2% (FY21: 19.4%); Transactions at 19.8% (FY21: 19.7%).
• Receivables grew by 25% to ₹ 31,281 Cr as of Q4 FY22 vs ₹ 25,114 Cr as of Q4 FY21.
RBI RE at ₹ 287 Cr that is less than 1 % of receivables in Q4 FY22.

for the financial year ended March 31, 2022 (FY22)


• Total revenue increased by ₹ 1,588 Cr, which means 16% up to ₹ 11,302 Cr for FY22 vs ₹ 9,714 Cr for FY21.
• Finance costs decreased by ₹ 16 Cr, which means 2% down to ₹ 1,027 Cr for FY22 from ₹ 1,043 Cr for FY21.
• Total Operating cost at ₹ 5,844 Cr for FY22 from ₹ 4,646 Cr for FY21, increase is primarily due to higher business volumes.
• Earnings before credit costs increased by ₹ 406 Cr, or 25% to ₹ 4,430 Cr for FY22 from ₹ 4,024 Cr for FY21.
• Impairment losses & bad debts expenses decreased by Rs 442 Cr or 16 % to ₹ 2,258 Cr for FY22 vs ₹ 2,700 Cr for FY21.

(IV) Asset Quality :

The Gross non-performing assets were at 2.22% of gross advances as on March 31, 2022, as against 4.99% as on March 31, 2021. Net non-performing assets were at 0.78% as against 1.15% as on March 31, 2021.

(V) Capital Adequacy :
As per the capital adequacy norms issued by the RBI, Company’s capital to risk ratio consisting of tier I and tier II capital should not be less than 15% of its aggregate risk weighted assets on – balance sheet and of risk adjusted value of off-balance sheet items. As of March 31, 2022, Company’s CRAR was 23.8% compared to 24.8% as of March 31, 2021. The tier I capital in respect of an NBFC-ND-SI, at any point of time, is required to not be less than 10%. Company’s Tier I capital was 21.0% as of March 31, 2022, compared to 20.9% as of March 31, 2021.

Shares of SBI Card Ltd was last traded in BSE at ₹841.85 as compared to the previous close of ₹826.90. The total number of shares traded during the day was 60688 in over 3519 trades.

The stock last hit in BSE,

  • Intraday High of ₹ 848.00
  • Intraday low of ₹ 822.10