Stockrabit · Analysts
Questions across 2 calls

Anuj Singla

JP Morgan

SBI Cards and Payment Services Limited

SBI Cards and Payment Services Limited CC-Apr26.pdf · 2026-04-27
Yes. Good afternoon. Thanks for the opportunity. So first question is on the receivable growth. Obviously, we have seen a deceleration there to 2%. But if I recall, we have been flagging that we will see an increase in the new card acquisition and receivable growth will follow. So should we see that FY27, the new card acquisition and the receivable growth acceleration only in FY28? Is that the scenario we should be looking at?
Fair enough. And secondly, on the asset mix, while revolver has been trending down for the past many quarters, one offset was supposed to be EMI. And I think Girish has talked about in the past that there have been various initiatives to incentivize conversion to EMI. But when I look at this quarter, even EMI has been pretty weak. So can you talk about the trends there? And should we -- is that one of the offset we should be looking for towards offsetting the lower revolver in FY27 or '28?
SBI Cards and Payment Services Limited CC-Feb26.pdf · 2026-01-28
Good evening. Thanks for the opportunity. So couple of questions. Firstly, we have been seeing a consistent decline in the revolver share. And I think in the past couple of calls, Girish has mentioned that for the newly acquired customers, the proportion of revolver is much lower. Can you give us some sense on what the quantum is versus where we are versus the current 23%, where can it settle down over a period of time?
Okay. So I think during earlier part of the call, Girish also mentioned this can continue for the next couple of quarters and then settle down. Did I hear it correctly? And what gives you the confidence -- was it regarding revolver share that...?