HDFC Bank Ltd
HDFC Bank Limited (also known as HDFC) is an Indian banking and financial services company headquartered in Mumbai. It is India's largest private sector bank by assets and the world's tenth-largest bank by market capitalization as of May 2024.
As of April 2024, HDFC Bank has a market capitalization of $145 billion, making it the third-largest company on the Indian stock exchanges. [1]
- Market Cap ₹ 15,14,844 Cr.
- Current Price ₹ 1,979
- High / Low ₹ 1,996 / 1,552
- Stock P/E 22.5
- Book Value ₹ 650
- Dividend Yield 1.11 %
- ROCE 7.35 %
- ROE 14.4 %
- Face Value ₹ 1.00
Pros
- Company has delivered good profit growth of 20.7% CAGR over last 5 years
- Company has been maintaining a healthy dividend payout of 24.5%
- Company's median sales growth is 16.0% of last 10 years
Cons
- Stock is trading at 3.04 times its book value
- Company has low interest coverage ratio.
- Contingent liabilities of Rs.23,62,091 Cr.
- Company might be capitalizing the interest cost
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
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Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
41,136 | 48,470 | 60,221 | 69,306 | 80,241 | 98,972 | 114,813 | 120,858 | 127,753 | 161,586 | 258,341 | 300,517 | |
Interest | 22,653 | 26,074 | 32,630 | 36,167 | 40,146 | 50,729 | 58,626 | 55,979 | 55,744 | 74,743 | 149,808 | 177,847 |
12,959 | 15,407 | 18,999 | 22,464 | 27,712 | 32,529 | 41,644 | 47,123 | 50,904 | 57,329 | 84,068 | 79,824 | |
Financing Profit | 5,524 | 6,989 | 8,592 | 10,676 | 12,383 | 15,714 | 14,542 | 17,757 | 21,105 | 29,513 | 24,464 | 42,846 |
Financing Margin % | 13% | 14% | 14% | 15% | 15% | 16% | 13% | 15% | 17% | 18% | 9% | 14% |
7,920 | 8,996 | 10,752 | 12,296 | 15,220 | 17,626 | 23,261 | 25,205 | 29,510 | 31,215 | 49,241 | 45,632 | |
Depreciation | 672 | 656 | 706 | 833 | 906 | 1,140 | 1,196 | 1,302 | 1,600 | 2,242 | 2,810 | 0 |
Profit before tax | 12,772 | 15,329 | 18,638 | 22,139 | 26,697 | 32,200 | 36,607 | 41,659 | 49,015 | 58,485 | 70,895 | 88,478 |
Tax % | 34% | 33% | 34% | 34% | 34% | 35% | 28% | 25% | 25% | 25% | 14% | 24% |
8,478 | 10,216 | 12,296 | 14,550 | 17,487 | 21,078 | 26,257 | 31,117 | 36,961 | 44,109 | 60,812 | 67,347 | |
EPS in Rs | 17.67 | 20.38 | 24.32 | 28.39 | 33.69 | 38.70 | 47.89 | 56.44 | 66.65 | 79.05 | 80.05 | 88.01 |
Dividend Payout % | 19% | 20% | 20% | 19% | 19% | 19% | 5% | 12% | 23% | 24% | 24% | 25% |
Compounded Sales Growth | |
---|---|
10 Years: | 20% |
5 Years: | 21% |
3 Years: | 33% |
TTM: | 16% |
Compounded Profit Growth | |
---|---|
10 Years: | 21% |
5 Years: | 21% |
3 Years: | 22% |
TTM: | 11% |
Stock Price CAGR | |
---|---|
10 Years: | 15% |
5 Years: | 14% |
3 Years: | 13% |
1 Year: | 27% |
Return on Equity | |
---|---|
10 Years: | 16% |
5 Years: | 16% |
3 Years: | 16% |
Last Year: | 14% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 480 | 501 | 506 | 513 | 519 | 545 | 548 | 551 | 555 | 558 | 760 | 765 |
Reserves | 42,999 | 61,508 | 72,172 | 88,950 | 105,776 | 148,662 | 170,438 | 203,170 | 239,538 | 279,641 | 439,486 | 496,854 |
Deposits | 367,337 | 450,796 | 546,424 | 643,640 | 788,771 | 923,141 | 1,147,502 | 1,335,060 | 1,559,217 | 1,883,395 | 2,379,786 | 2,714,715 |
Borrowing | 39,439 | 45,214 | 84,969 | 74,029 | 123,105 | 117,085 | 144,629 | 135,487 | 184,817 | 206,766 | 662,153 | 547,931 |
41,344 | 32,484 | 36,725 | 56,709 | 45,764 | 55,108 | 67,394 | 72,602 | 84,407 | 95,722 | 135,438 | 149,934 | |
Total Liabilities | 491,600 | 590,503 | 740,796 | 863,840 | 1,063,934 | 1,244,541 | 1,530,511 | 1,746,871 | 2,068,535 | 2,466,081 | 3,617,623 | 3,910,199 |
2,940 | 3,122 | 3,343 | 3,627 | 3,607 | 4,030 | 4,432 | 4,909 | 6,084 | 8,017 | 11,399 | 13,655 | |
CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Investments | 120,951 | 151,642 | 195,836 | 214,463 | 242,200 | 293,116 | 391,827 | 443,728 | 455,536 | 517,001 | 702,415 | 836,360 |
367,709 | 435,740 | 541,617 | 645,750 | 818,127 | 947,395 | 1,134,253 | 1,298,233 | 1,606,916 | 1,941,064 | 2,903,809 | 3,060,184 | |
Total Assets | 491,600 | 590,503 | 740,796 | 863,840 | 1,063,934 | 1,244,541 | 1,530,511 | 1,746,871 | 2,068,535 | 2,466,081 | 3,617,623 | 3,910,199 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
8,364 | -15,862 | -30,132 | 23,585 | 26,074 | -56,055 | -16,690 | 41,495 | -14,209 | 27,313 | 35,015 | 145,177 | |
-1,623 | -1,933 | -627 | -1,985 | -523 | -1,231 | -891 | -1,262 | -1,126 | -1,997 | 12,604 | -2,039 | |
5,563 | 14,543 | 33,347 | -11,568 | 48,411 | 15,718 | 22,852 | -7,381 | 48,192 | 16,122 | -22,237 | -122,909 | |
Net Cash Flow | 12,303 | -3,252 | 2,587 | 10,033 | 73,963 | -41,567 | 5,271 | 32,852 | 32,857 | 41,438 | 25,382 | 20,229 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
ROE % | 21% | 19% | 18% | 18% | 18% | 16% | 16% | 17% | 17% | 17% | 17% | 14% |
Documents
Announcements
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Compliances-Reg.24(A)-Annual Secretarial Compliance
29 May - HDFC Bank submits Annual Secretarial Compliance Report for FY 2024-2025 as per SEBI regulations.
- Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 28 May
- Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 28 May
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Publication Of Notice In Newspapers For Transfer Of Equity Shares To Investor Education And Protection Fund (IEPF) Authority
22 May - Notice published for transfer of equity shares to IEPF Authority as per regulations.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
21 May - Of Schedule of Analyst / Institutional Investor Meetings under the SEBI (LODR) Regulations, 2015
Annual reports
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Financial Year 2024
from bse
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
from bse
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Financial Year 2013
from bse
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Financial Year 2012
from bse
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Financial Year 2012
from nse
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Financial Year 2011
from bse
Concalls
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Apr 2025Transcript PPT REC
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Jan 2025Transcript PPT
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Oct 2024Transcript PPT
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Jul 2024Transcript PPT REC
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Jul 2024TranscriptNotesPPT
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Apr 2024Transcript PPT REC
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Mar 2024TranscriptNotesPPT
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Feb 2024Transcript PPT REC
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Jan 2024Transcript PPT
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Oct 2023TranscriptNotesPPT REC
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Oct 2023Transcript PPT
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Oct 2023Transcript PPT REC
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Sep 2023TranscriptNotesPPT REC
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Jul 2023Transcript PPT REC
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Apr 2023Transcript PPT
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Jan 2023TranscriptPPT
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Jul 2022TranscriptPPT
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Apr 2022Transcript PPT
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Apr 2022TranscriptNotesPPT
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May 2018TranscriptNotesPPT
Market Position
The company is India's one of 3 systemically important banks with a 15% market share in the banking sector’s advances and a 37% market share in the private sector banks’ advances as of FY24. It is also the second-largest bank in India. [1] It is among the top 3 Government Banks collecting direct and indirect taxes for the Government of India. [2] It is a market leader in almost every asset category. [3]