HDB Financial Services Ltd

₹ 505 -1.02%

23 Oct - close price

About

Incorporated in 2007, HDB Financial Services Limited (HDBFS) is a non-deposit-taking NBFC and a subsidiary of HDFC Bank engaged in providing lending solutions.^[1]

Key Points

Business Overview:^[1]
HDB Financial Services Ltd is a non-deposit-taking NBFC and a subsidiary of HDFC Bank. Classified as an Upper Layer NBFC by the RBI, the company offers lending solutions to individuals, micro enterprises, and businesses through a diversified portfolio across Enterprise Lending, Asset Finance, and Consumer Finance segments.

Website BSE NSE

Market Cap ₹ 41,949 Cr.
Current Price ₹ 505
High / Low ₹ 797 / 494
Stock P/E 14.2
Book Value ₹ 267
Dividend Yield 0.79 %
ROCE 9.09 %
ROE 13.9 %
Face Value ₹ 10.0

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Pros

Cons

Company has low interest coverage ratio.
The company has delivered a poor sales growth of 11.0% over past five years.
Company might be capitalizing the interest cost
Dividend payout has been low at 11.2% of profits over last 3 years

* 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 Nifty LargeMidcap 250 Nifty Midcap 150 Nifty 500 Multicap 50:25:25 Nifty Total Market Nifty500 Equal Weight Nifty500 LargeMidSmall Equal-Cap Weighted BSE Select IPO BSE 1000 Nifty IPO Nifty MidSmallcap400 50:50 Nifty 500 BSE 500 BSE Financial Services BSE 400 MidSmallCap Index BSE Diversified Financials Revenue Growth Nifty MidSmallcap 400 BSE 150 MidCap Index BSE 250 LargeMidCap Index

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
	3,667	3,884	4,007	4,144	4,266	4,465	4,545	4,674	4,745	4,938	5,005
Interest	1,377	1,496	1,598	1,645	1,650	1,740	1,694	1,704	1,682	1,753	1,817
	1,368	1,560	1,561	1,809	1,858	1,942	2,017	2,058	1,997	2,075	2,087
Financing Profit	922	828	847	689	758	784	835	912	1,066	1,110	1,101
Financing Margin %	25%	21%	21%	17%	18%	18%	18%	20%	22%	22%	22%
	0	0	0	0	0	0	0	0	0	0	0
Depreciation	40	44	48	49	54	51	52	51	54	55	57
Profit before tax	882	784	799	641	704	732	782	860	1,011	1,055	1,044
Tax %	26%	26%	26%	26%	25%	22%	26%	25%	26%	26%	25%
	656	582	591	472	531	568	581	644	751	785	780
EPS in Rs	8.27	7.33	7.44	5.95	6.67	6.84	7.01	7.76	9.04	9.46	9.39
Gross NPA %	1.90%		2.10%	2.25%	2.26%	2.56%	2.81%	2.81%	2.44%
Net NPA %				0.90%	0.99%	1.11%	1.27%	1.25%	1.09%	1.04%
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	10,945	11,312	12,403	14,173	16,300	18,431	19,362
Interest	3,883	3,326	3,512	4,907	6,433	6,856	6,957
	6,451	6,540	6,153	5,817	6,745	7,980	8,217
Financing Profit	610	1,446	2,738	3,449	3,122	3,595	4,188
Financing Margin %	6%	13%	22%	24%	19%	20%	22%
	-2	0	1	1	0	1	0
Depreciation	108	99	112	145	194	209	218
Profit before tax	501	1,348	2,627	3,305	2,928	3,386	3,970
Tax %	22%	25%	25%	26%	26%	25%
	391	1,011	1,959	2,461	2,176	2,544	2,960
EPS in Rs	4.96	12.80	24.76	31.03	27.34	30.64	35.65
Dividend Payout %	0%	8%	8%	10%	11%	13%

Compounded Sales Growth
10 Years:	%
5 Years:	11%
3 Years:	14%
TTM:	11%

Compounded Profit Growth
10 Years:	%
5 Years:	45%
3 Years:	9%
TTM:	38%

Stock Price CAGR
10 Years:	%
5 Years:	%
3 Years:	%
1 Year:	-31%

Return on Equity
10 Years:	%
5 Years:	16%
3 Years:	16%
Last Year:	14%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Sep 2026
Equity Capital	789	790	791	793	796	830	831
Reserves	7,657	8,749	10,646	12,950	15,024	19,834	21,322
Borrowing	50,359	48,973	54,865	74,331	89,682	99,230	104,442
	3,836	3,513	3,748	4,483	3,161	3,757	4,182
Total Liabilities	62,641	62,026	70,050	92,557	108,663	123,651	130,777
	317	293	387	511	735	773	774
CWIP	0	0	0	0	0	0	0
Investments	1,593	2,234	1,243	3,380	2,060	3,748	4,174
	60,731	59,500	68,420	88,665	105,868	119,130	125,829
Total Assets	62,641	62,026	70,050	92,557	108,663	123,651	130,777

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-342	1,987	-6,851	-16,736	-13,626	-8,606
	131	-703	973	-2,146	1,159	-1,772
	608	-1,500	5,796	19,134	12,770	10,673
Net Cash Flow	398	-216	-81	252	303	296
Free Cash Flow	-366	1,947	-6,960	-16,858	-13,834	-8,747

Ratios

Standalone / View Consolidated

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
ROE %	5%	11%	19%	20%	15%	14%

Insights

In beta

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Branch Network
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Customer Franchise
millions

Employee Count
count

Towns and Cities Served
count

Disbursements
INR crores

Loan Book Mix - Asset Finance
% of total loan book

Loan Book Mix - Consumer Finance
% of total loan book

Loan Book Mix - Enterprise Lending
% of total loan book

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
	74.19%	74.15%	74.12%	74.12%	74.08%
	3.17%	3.32%	3.01%	3.55%	4.04%
	10.93%	11.41%	12.29%	12.10%	11.95%
	11.48%	10.90%	10.35%	10.00%	9.70%
	0.23%	0.23%	0.23%	0.23%	0.23%
No. of Shareholders	11,57,250	10,27,204	9,61,497	9,25,474	8,80,572

	Mar 2026	Sep 2026
	74.12%	74.08%
	3.01%	4.04%
	12.29%	11.95%
	10.35%	9.70%
	0.23%	0.23%
No. of Shareholders	9,61,497	8,80,572

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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