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 ₹ 53,310 Cr.
- Current Price ₹ 642
- High / Low ₹ 892 / 633
- Stock P/E 24.5
- Book Value ₹
- Dividend Yield 0.31 %
- ROCE 9.79 %
- ROE 14.7 %
- Face Value ₹ 10.0
Pros
Cons
- 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
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2018 | Mar 2019 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| 7,027 | 8,725 | 12,403 | 14,173 | 16,300 | |
| Interest | 2,449 | 3,333 | 3,512 | 4,907 | 6,433 |
| 3,096 | 3,605 | 6,153 | 5,817 | 6,745 | |
| Financing Profit | 1,482 | 1,786 | 2,738 | 3,449 | 3,122 |
| Financing Margin % | 21% | 20% | 22% | 24% | 19% |
| -0 | -0 | 1 | 1 | 0 | |
| Depreciation | 45 | 62 | 112 | 145 | 194 |
| Profit before tax | 1,436 | 1,724 | 2,627 | 3,305 | 2,928 |
| Tax % | 35% | 33% | 25% | 26% | 26% |
| 933 | 1,153 | 1,959 | 2,461 | 2,176 | |
| EPS in Rs | 11.92 | 14.68 | 24.76 | 31.03 | 27.34 |
| Dividend Payout % | 13% | 12% | 8% | 10% | 11% |
| Compounded Sales Growth | |
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| TTM: | 15% |
| Compounded Profit Growth | |
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| TTM: | -12% |
| Stock Price CAGR | |
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| Return on Equity | |
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| 3 Years: | 17% |
| Last Year: | 15% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2018 | Mar 2019 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| Equity Capital | 783 | 786 | 791 | 793 | 796 |
| Reserves | 5,257 | 6,393 | 10,646 | 12,950 | 15,024 |
| Borrowing | 35,753 | 45,105 | 54,865 | 74,331 | 87,398 |
| 3,653 | 4,257 | 3,748 | 4,483 | 5,446 | |
| Total Liabilities | 45,447 | 56,540 | 70,050 | 92,557 | 108,663 |
| 137 | 123 | 387 | 511 | 735 | |
| CWIP | 0 | 0 | 0 | 0 | 0 |
| Investments | 402 | 568 | 1,243 | 3,380 | 2,060 |
| 44,908 | 55,849 | 68,420 | 88,665 | 105,868 | |
| Total Assets | 45,447 | 56,540 | 70,050 | 92,557 | 108,663 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2018 | Mar 2019 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| -8,186 | -8,991 | -6,851 | -16,736 | -13,626 | |
| -49 | -181 | 973 | -2,146 | 1,159 | |
| 8,226 | 9,445 | 5,796 | 19,134 | 12,770 | |
| Net Cash Flow | -8 | 273 | -81 | 252 | 303 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2018 | Mar 2019 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| ROE % | 15% | 17% | 17% | 20% | 15% |
Insights
In beta| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Stage 3 Loans Ratio % ・Standalone data |
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| Provision Coverage Ratio (Stage 3) % ・Standalone data |
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| Coverage - Number of Cities and Towns Number ・Standalone data |
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| Customer Franchise Million ・Standalone data |
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| Number of Branches Number ・Standalone data |
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| Average Ticket Size (Overall Loan Book) INR ・Standalone data |
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| Concentration - Top 20 Borrowers contribution to Loans % ・Standalone data |
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| Employee Count (Lending Business) Number ・Standalone data |
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Documents
Announcements
- Shareholder Meeting / Postal Ballot-Outcome of Postal_Ballot 13 Mar
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Announcement under Regulation 30 (LODR)-Change in Management
12 Mar - Appointed Akash Bararia Head–Consumer Finance effective March 12, 2026; full-time senior role.
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Announcement under Regulation 30 (LODR)-Allotment
12 Mar - Allotted 17,500 secured NCDs totaling Rs175 crore; 1818-day tenor; 7.6% coupon; maturing 04-Mar-2031.
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Announcement under Regulation 30 (LODR)-Change in Management
2 Mar - CBO Karthik Srinivasan resigns; effective March 31, 2026 (tendered March 2, 2026).
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 26 Feb
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.