HDFC Bank Ltd

HDFC Bank Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

HDFC Bank Ltd

₹ 1,562 0.23%
01 Dec 12:55 p.m.
hdfcbank.com BSE: 500180 NSE : HDFCBANK
About

The Housing Development Finance Corporation Limited (HDFC) was amongst the first to receive an 'in principle' approval from the Reserve Bank of India (RBI) to set up a bank in the private sector. HDFC Bank is a publicly held banking company, the bank was incorporated in August 1994 in the name of 'HDFC Bank Limited', with its registered office in Mumbai, India. It is engaged in providing a range of banking and financial services including retail banking, wholesale banking and treasury operations. It is promoted by HDFC Ltd. which has 19.32% stake as on September 30, 2020. Currently, HDFC Bank Ltd. (HBL) is the largest private sector bank in India.

Key Points

Key Ratios - FY22 [1]
Capital Adequacy Ratio - 18.9%
Net Interest Margin - 4.2%
Gross NPA - 1.17%
Net NPA - 0.32%
CASA Ratio - 46.1%
Cost to Income ratio – 38.3%

Website BSE NSE
  • Market Cap ₹ 11,85,863 Cr.
  • Current Price ₹ 1,562
  • High / Low ₹ 1,758 / 1,460
  • Stock P/E 17.4
  • Book Value ₹ 519
  • Dividend Yield 1.22 %
  • ROCE 6.24 %
  • ROE 17.1 %
  • Face Value ₹ 1.00
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Pros

  • Company is expected to give good quarter
  • Company has delivered good profit growth of 19.9% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 19.0%

Cons

  • Stock is trading at 3.01 times its book value
  • Company has low interest coverage ratio.
  • Contingent liabilities of Rs.18,22,393 Cr.
  • Company might be capitalizing the interest cost
  • Earnings include an other income of Rs.61,112 Cr.
  • Working capital days have increased from -7.26 days to 92.2 days

* 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

Sector: Banks Industry: Banks - Private Sector

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023
Revenue 31,742 31,852 32,607 32,254 33,520 34,588 35,574 37,274 40,930 45,002 47,548 51,168 75,039
Interest 15,033 14,523 14,083 14,218 14,415 14,724 15,227 16,358 18,311 20,505 22,606 25,955 41,250
13,028 13,503 15,561 14,073 14,698 14,423 15,044 15,021 15,915 16,682 17,770 18,470 45,349
Financing Profit 3,682 3,826 2,963 3,962 4,408 5,441 5,304 5,895 6,704 7,815 7,172 6,744 -11,560
Financing Margin % 12% 12% 9% 12% 13% 16% 15% 16% 16% 17% 15% 13% -15%
6,696 7,987 8,303 6,680 7,916 8,777 8,386 6,929 8,252 9,121 9,610 9,853 32,528
Depreciation 0 0 0 0 0 0 0 0 0 0 0 0 0
Profit before tax 10,378 11,813 11,266 10,642 12,324 14,218 13,690 12,823 14,956 16,936 16,783 16,597 20,967
Tax % 26% 26% 25% 25% 26% 25% 23% 25% 25% 25% 25% 25% 17%
7,711 8,760 8,444 7,940 9,120 10,616 10,475 9,617 11,163 12,735 12,634 12,403 17,312
EPS in Rs 14.00 15.92 15.30 14.33 16.43 19.11 18.83 17.25 19.97 22.77 22.57 22.12 22.17
Gross NPA %
Net NPA %
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
Revenue 28,193 35,861 42,555 50,666 63,162 73,271 85,288 105,161 122,189 128,552 135,936 170,754 218,758
Interest 15,106 19,695 23,445 27,288 34,070 38,042 42,381 53,713 62,137 59,248 58,584 77,780 110,316
10,858 12,631 13,508 16,164 20,055 23,856 29,532 34,856 45,459 52,457 56,557 63,042 98,271
Financing Profit 2,229 3,534 5,602 7,214 9,037 11,374 13,374 16,592 14,593 16,848 20,795 29,932 10,171
Financing Margin % 8% 10% 13% 14% 14% 16% 16% 16% 12% 13% 15% 18% 5%
5,992 7,133 8,298 9,546 11,212 12,905 16,057 18,947 24,879 27,333 31,759 33,912 61,112
Depreciation 554 663 689 680 738 886 967 1,221 1,277 1,385 1,681 2,345 0
Profit before tax 7,667 10,004 13,211 16,079 19,511 23,393 28,464 34,318 38,195 42,796 50,873 61,498 71,283
Tax % 31% 31% 34% 33% 34% 35% 35% 35% 29% 26% 25% 25%
5,277 6,903 8,768 10,703 12,821 15,317 18,561 22,446 27,296 31,857 38,151 46,149 55,085
EPS in Rs 11.18 14.44 18.22 21.32 25.32 29.81 35.66 41.00 49.70 57.74 68.62 82.44 89.63
Dividend Payout % 19% 19% 19% 19% 19% 18% 18% 18% 5% 11% 23% 23%
Compounded Sales Growth
10 Years: 17%
5 Years: 15%
3 Years: 12%
TTM: 47%
Compounded Profit Growth
10 Years: 21%
5 Years: 20%
3 Years: 19%
TTM: 31%
Stock Price CAGR
10 Years: 17%
5 Years: 8%
3 Years: 3%
1 Year: -4%
Return on Equity
10 Years: 17%
5 Years: 17%
3 Years: 17%
Last Year: 17%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 469 476 480 501 506 513 519 545 548 551 555 558 758
Reserves 29,741 36,167 43,687 62,653 73,798 91,281 109,080 153,128 175,810 209,259 246,772 288,880
272,874 335,588 416,677 509,762 649,587 741,550 944,817 1,080,235 1,333,041 1,511,418 1,784,970 2,139,212
37,971 35,492 42,776 34,181 38,321 59,000 48,770 58,898 71,430 78,279 90,639 101,783
Total Liabilities 341,055 407,723 503,620 607,097 762,212 892,344 1,103,186 1,292,806 1,580,830 1,799,507 2,122,934 2,530,432
2,378 2,773 3,026 3,225 3,667 4,000 4,008 4,369 4,776 5,248 6,432 8,431
CWIP 0 0 0 0 0 0 0 0 0 0 0 0
Investments 96,795 110,960 119,571 149,454 193,634 210,777 238,461 289,446 389,305 438,823 449,264 511,582
241,882 293,989 381,023 454,417 564,912 677,567 860,717 998,991 1,186,750 1,355,435 1,667,238 2,010,419
Total Assets 341,055 407,723 503,620 607,097 762,212 892,344 1,103,186 1,292,806 1,580,830 1,799,507 2,122,934 2,530,432

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
-19,381 -5,847 4,211 -21,281 -34,435 17,282 17,214 -62,872 -16,869 42,476 -11,960 20,814
-662 -902 -1,099 -800 -837 -1,146 -842 -1,503 -1,403 -1,823 -2,051 -2,992
11,380 13,105 9,270 18,694 37,815 -5,893 57,378 23,131 24,394 -7,321 48,124 23,941
Net Cash Flow -8,663 6,356 12,382 -3,387 2,542 10,242 73,750 -41,244 6,122 33,332 34,113 41,762

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
ROE % 19% 21% 22% 20% 19% 18% 18% 17% 16% 16% 17% 17%

Shareholding Pattern

Numbers in percentages

13 Recently
Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
26.00% 25.97% 25.89% 25.83% 25.80% 25.78% 25.73% 25.64% 25.60% 25.59% 25.52% 0.00%
39.35% 39.79% 39.39% 38.23% 37.47% 35.62% 32.31% 32.14% 32.10% 32.24% 33.38% 52.13%
21.47% 20.99% 21.46% 22.53% 22.97% 24.55% 27.11% 27.53% 28.13% 28.09% 26.75% 30.39%
0.24% 0.24% 0.16% 0.16% 0.16% 0.16% 0.16% 0.16% 0.16% 0.16% 0.16% 0.17%
12.95% 13.01% 13.10% 13.25% 13.60% 13.89% 14.69% 14.51% 13.99% 13.91% 14.19% 17.30%
No. of Shareholders 12,86,35713,75,29415,22,68715,98,81318,88,27621,51,63026,60,57725,20,91123,03,29122,90,09223,45,67230,58,659

* 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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