HDB Financial Services Ltd
Incorporated in 2007, HDB Financial Services Ltd is in the business of lending and providing BPO services[1]One of the largest retail-focused non-banking financial company, its[2] lending products are offered throughour three business verticals: Enterprise Lending, Asset Finance and Consumer Finance
- Market Cap ₹ 58,717 Cr.
- Current Price ₹ 707
- High / Low ₹ 892 / 687
- Stock P/E 25.3
- Book Value ₹ 233
- Dividend Yield 0.28 %
- ROCE 9.79 %
- ROE 14.7 %
- Face Value ₹ 10.0
Pros
Cons
- Stock is trading at 3.04 times its book value
- Company has low interest coverage ratio.
* 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
Financial Services Financial Services Finance Non Banking Financial Company (NBFC)
Part of BSE IPO BSE Allcap BSE Financial Services
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|
| 10,945 | 11,312 | 12,403 | 14,173 | 16,300 | 17,950 | |
| Interest | 3,883 | 3,326 | 3,512 | 4,907 | 6,433 | 6,788 |
| 6,451 | 6,540 | 6,153 | 5,817 | 6,745 | 7,874 | |
| Financing Profit | 610 | 1,446 | 2,738 | 3,449 | 3,122 | 3,288 |
| Financing Margin % | 6% | 13% | 22% | 24% | 19% | 18% |
| -2 | 0 | 1 | 1 | 0 | 0 | |
| Depreciation | 108 | 99 | 112 | 145 | 194 | 209 |
| Profit before tax | 501 | 1,348 | 2,627 | 3,305 | 2,928 | 3,079 |
| Tax % | 22% | 25% | 25% | 26% | 26% | |
| 391 | 1,011 | 1,959 | 2,461 | 2,176 | 2,324 | |
| EPS in Rs | 4.96 | 12.80 | 24.76 | 31.03 | 27.34 | 28.28 |
| Dividend Payout % | 0% | 8% | 8% | 10% | 11% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 13% |
| TTM: | 15% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 29% |
| TTM: | -12% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 14% |
| 3 Years: | 17% |
| Last Year: | 15% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|
| Equity Capital | 789 | 790 | 791 | 793 | 796 | 830 |
| Reserves | 7,657 | 8,749 | 10,646 | 12,950 | 15,024 | 18,509 |
| Borrowing | 50,359 | 48,973 | 54,865 | 74,331 | 87,398 | 90,541 |
| 3,836 | 3,513 | 3,748 | 4,483 | 5,446 | 4,895 | |
| Total Liabilities | 62,641 | 62,026 | 70,050 | 92,557 | 108,663 | 114,774 |
| 317 | 293 | 387 | 511 | 735 | 743 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 1,593 | 2,234 | 1,243 | 3,380 | 2,060 | 3,076 |
| 60,731 | 59,500 | 68,420 | 88,665 | 105,868 | 110,955 | |
| Total Assets | 62,641 | 62,026 | 70,050 | 92,557 | 108,663 | 114,774 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| -342 | 1,987 | -6,851 | -16,736 | -13,626 | |
| 131 | -703 | 973 | -2,146 | 1,159 | |
| 608 | -1,500 | 5,796 | 19,134 | 12,770 | |
| Net Cash Flow | 398 | -216 | -81 | 252 | 303 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| ROE % | 5% | 11% | 19% | 20% | 15% |
Documents
Announcements
- Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 23 Jan
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Announcement under Regulation 30 (LODR)-Resignation of Director
23 Jan - Arijit Basu resigned as Independent Non-Executive Director & Chairman effective January 23, 2026; stepping down due to bank chair appointment.
-
Announcement under Regulation 30 (LODR)-Earnings Call Transcript
20 Jan - Q3FY26 earnings call transcript: disbursements ₹17,917cr, loan book ₹1,14,577cr, PAT ₹644cr, one-time ₹61cr labour provision.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
14 Jan - Audio of earnings call for quarter and nine months ended Dec 31, 2025, posted Jan 14, 2026.
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Announcement under Regulation 30 (LODR)-Monitoring Agency Report
14 Jan - CARE report: IPO proceeds Rs2,500cr utilisation till Dec31,2025—Rs2,493.73cr used; Rs6.27cr unutilized.
Concalls
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Jan 2026Transcript PPT REC
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Oct 2025Transcript PPT
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Jul 2025Transcript PPT
Business Overview:[1]
HDBFSL is a non-banking finance company with 1749 branches across 1,157 cities in India. Alongside its core lending business, it distributes insurance products for HDFC Ergo and HDFC Life. The company also offers BPO services to HDFC Bank, managing collections, back-office operations, and sales support.