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 ₹ 60,007 Cr.
- Current Price ₹ 723
- High / Low ₹ 892 / 722
- Stock P/E 27.9
- Book Value ₹ 233
- Dividend Yield 0.28 %
- ROCE 9.79 %
- ROE 14.7 %
- Face Value ₹ 10.0
Pros
Cons
- Stock is trading at 3.10 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
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 | 17,420 | |
| 6,451 | 6,540 | 6,153 | 5,817 | 6,745 | 7,626 | |
| Operating Profit | 4,493 | 4,772 | 6,250 | 8,356 | 9,555 | 9,795 |
| OPM % | 41% | 42% | 50% | 59% | 59% | 56% |
| -2 | 0 | 1 | 1 | 0 | 0 | |
| Interest | 3,883 | 3,326 | 3,512 | 4,907 | 6,433 | 6,729 |
| Depreciation | 108 | 99 | 112 | 145 | 194 | 206 |
| Profit before tax | 501 | 1,348 | 2,627 | 3,305 | 2,928 | 2,860 |
| Tax % | 22% | 25% | 25% | 26% | 26% | |
| 391 | 1,011 | 1,959 | 2,461 | 2,176 | 2,152 | |
| EPS in Rs | 4.96 | 12.80 | 24.76 | 31.03 | 27.34 | 26.47 |
| 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: | % |
| 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 |
| 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 | |
|---|---|---|---|---|---|
| Debtor Days | 4 | 5 | 2 | 3 | 5 |
| Inventory Days | |||||
| Days Payable | |||||
| Cash Conversion Cycle | 4 | 5 | 2 | 3 | 5 |
| Working Capital Days | -114 | -94 | -99 | -108 | -107 |
| ROCE % | 8% | 10% | 11% | 10% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Allotment
15h - Allotted 5,000 Tier-II bonds totaling Rs50 crore; 7.95% coupon; maturity 04-Jun-2035.
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Announcement under Regulation 30 (LODR)-Allotment
24 Oct - Allotted 25,000 secured NCDs totaling Rs.250 crore on Oct 24, 2025; 7.3268% coupon; maturity Oct 4, 2030.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
18 Oct - Posted Q2 FY26 earnings call transcript (Oct 15, 2025); results: loan book ₹111,409 crore, PAT ₹581 crore.
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Audio Recording Of Earnings Call For The Quarter And Half Year Ended September 30, 2025
15 Oct - Audio recording of October 15, 2025 earnings call for quarter/H1 ended Sep 30, 2025 posted online.
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Announcement under Regulation 30 (LODR)-Monitoring Agency Report
15 Oct - CARE: Rs2,500 crore IPO proceeds; Rs2,456.62cr utilized by Sep 30, 2025; ₹43.38cr unutilized and in escrow/fixed deposits as noted.
Concalls
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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 1,771 branches across 1,170 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.