Buy SBI Cards and Payment Services, target price Rs 1265: HDFC Securities

Buy SBI Cards and Payment Services, target price Rs 1265: HDFC Securities
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Synopsis

For the quarter ended June 30, 2022, the company has reported a standalone total income of Rs 3262.85 crore, up 8.18 per cent from last quarter total income of Rs 3016.10 crore and up 33.13 per cent from last year same quarter total income of Rs 2450.94 crore.

Agencies
Securities has buy call on with a target price of Rs 1265. Its current market price is Rs 959.45.
SBI Cards and Payment Services, incorporated in the year 1998, is a small cap company (having a market cap of Rs 89609.90 crore) operating in financial services sector.

Its key Products/Revenue Segments include Fees & Commission Income, Interest, Other Services, Sale of services and Commission for the year ended March 31, 2022.

Financials
For the quarter ended June 30, 2022, the company has reported a standalone total income of Rs 3262.85 crore, up 8.18 per cent from last quarter total income of Rs 3016.10 crore and up 33.13 per cent from last year same quarter total income of Rs 2450.94 crore. Company has reported net profit after tax of Rs 626.91 crore in latest quarter.

The company’s top management includes Mr.Dinesh Kumar Khara, Mr.Rama Mohan Rao Amara, Ms.Anuradha Shripad Nadkarni, Mr.Dinesh Kumar Mehrotra, Mr.Rajendra Kumar Saraf, Dr.Tejendra Mohan Bhasin, Mr.Shriniwas Yeshwant Joshi, Mr.Swaminathan Janakiraman, Mr.Mihir Narayan Prasad Mishra. Company has S Ramanand Aiyar & Co. as its auditors. As on June 30, 2022, the company has a total of 94 crore shares outstanding.

Promoter/FII Holdings
Promoters held 69.64 per cent stake in the company as of June 30, 2022, while FIIs owned 8.29 per cent, DIIs 16.24 per cent.
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