HDB Financial Services Ltd.

•

hdbfs.comBSE: 544429NSE: HDBFS

Market Cap₹ 55,549 Cr.

Current Price

High / Low₹ 801 / 555

Stock P/E25.5

Book Value₹ 190

Price to Book3.53

Dividend Yield0.60 %

ROCE9.8 %

ROE14.8 %

Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2025 • Lending Business: 92.5% • BPO Services: 7.5%

AI Sector View

AI GENERATED

Financial Services

Buy

Financials remain one of the clearest macro beneficiaries. Loan growth was 18.3% (Aug/26) versus deposit growth 14.7% (Aug/26), SCB credit growth was 17.5% YoY (2026-07), UPI transactions rose 22.0% YoY (2026-07), and M3 money supply grew 15.0% YoY (2026-07). Sector flows have also turned meaningfully supportive, with INR 13171 crore net FPI inflow over 3 months to 2026-08-31 after INR -114652 crore in the prior 3 months.

Confidence

84%

View full sector analysis →

PROS

Comfortable capital adequacy - CAR of 21.4%
Solid return on assets for a lender - ROA of 2.2%
Company has consistently been profitable over the last 5 years
Operating margins have improved to 58.6% from 42.4%
Institutional investors have been accumulating - FII+DII up 6.7pp
Attractively priced for its growth - PEG of 0.9

CONS

Promoter holding has decreased over last 2 years: -21.2pp
Company has a low return on capital employed of 10.1%
Free cash flow has been persistently negative
Thin net interest margin of 0.0%
Though reporting repeated profits, the company pays out little dividend (11.0%)

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Financial ServicesFinanceFinance - NBFC

Part ofNIFTYLARGEMIDCAP250 NIFTYMIDCAP150 NIFTY MIDCAP 150 NIFTY TOTAL MKT NIFTY 500

S.No.	Name
1.	BAJFINANCE	1034.20	31.71	643888.19	0.58	6080.60	27.60	23165.45	20.37	10.87	70.70
2.	SHRIRAMFIN	1028.00	21.37	241893.03	1.05	3452.77	59.90	13400.43	17.46	11.49	74.63
3.	CHOLAFIN	1845.00	27.40	157575.18	0.11	1656.22	45.56	8856.29	21.89	9.70	70.07
4.	TATACAP	362.80	28.50	154003.85	0.16	16281.80	1464.16	88219.30	1051.00	8.66	75.72
5.	JIOFIN	230.00	73.49	151872.26	0.26	830.25	155.73	2004.47	227.28	2.11	69.71
6.	BAJAJHLDNG	11120.70	13.97	123766.17	1.75	2708.08	-92.27	394.33	23.34	14.81	684.72
7.	MUTHOOTFIN	2794.40	9.86	112186.35	1.07	2824.84	43.08	8671.60	36.25	15.87	83.76
8.	ABCAPITAL	398.60	26.59	109118.68	0.00	1223.85	43.85	12179.54	137.84	8.82	41.91
9.	LTF	309.50	24.37	77571.61	0.89	915.99	30.70	5212.92	22.38	8.54	62.13
10.	SBICARD	656.05	27.44	62432.55	0.38	664.44	19.51	5040.55	7.60	11.75	29.83
11.	HDBFS	668.65	25.53	55549.10	0.60	785.20	38.31	4937.90	18.71	9.09	57.98
12.	SUNDARMFIN	4714.65	23.60	52381.58	0.85	636.19	33.88	2644.13	23.37	9.35	80.61

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

No quarterly results found

We don't have this information yet. Please check back later.

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	7,027	8,725	10,756	10,945	11,306	12,403	14,173	16,300
	3,097	3,610	5,101	6,456	6,536	6,153	5,817	6,746
Operating Profit	3,930	5,115	5,655	4,489	4,771	6,250	8,356	9,554
OPM %	55.93%	58.62%	52.58%	41.01%	42.19%	50.39%	58.95%	58.61%
	0	5	0	28	21	22	1	1
Interest	2,449	3,333	4,081	3,908	3,345	3,533	4,907	6,433
Depreciation	45	62	110	108	99	112	145	194
Profit before Tax	1,436	1,724	1,464	501	1,348	2,627	3,305	2,928
Tax %	35.03%	33.11%	31.39%	21.82%	24.95%	25.43%	25.53%	25.68%
Net Profit	933	1,153	1,005	391	1,011	1,959	2,461	2,176
EPS	11.92	14.69	12.77	4.97	12.80	24.76	31.03	27.34
Dividend Payout %	13.43%	12.26%	0.00%	0.00%	7.82%	4.44%	9.67%	10.97%

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: 9%
3 Years:: 13%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: 17%
3 Years:: 29%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: -14%

RETURN ON EQUITY

10 Years:: —
5 Years:: 14%
3 Years:: 18%
Last Year:: 15%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	783	786	788	789	790	791	793	796
	5,235	6,355	7,181	7,594	8,714	10,606	12,880	14,919
	37,050	46,644	50,199	51,488	50,188	56,554	74,990	87,995
Trade Payables	280	395	150	334	247	292	403	439
	1,804	2,245	2,690	2,304	2,139	1,833	3,886	4,926
Total Liabilities	45,151	56,424	61,008	62,510	62,078	70,076	92,952	1,09,074
	137	123	348	270	244	333	185	275
	402	568	1,746	1,593	2,234	1,243	3,380	2,060
	0	0	0	0	0	0	125	225
Cash & Bank	137	489	563	974	653	654	696	953
	44,475	55,244	58,350	59,674	58,948	67,846	88,566	1,05,560
Total Assets	45,151	56,424	61,008	62,510	62,078	70,076	92,952	1,09,074

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	-11,917	-13,177	-8,106	-5,274	-3,211	-11,217	-23,572	-21,479
Cash from Investing	-49	-181	-1,204	131	-703	973	-2,146	1,159
Cash from Financing	8,226	9,445	4,257	608	-1,500	5,796	19,134	12,770
	-8	273	21	398	-246	-81	252	303

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025

Shareholding Pattern

Numbers in percentages

	Jun 2020	Mar 2021	Mar 2022	Mar 2023	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	95.30	95.11	94.96	94.84	74.19	74.19	74.15	74.12	74.12
	0.00	0.00	0.00	0.00	4.11	3.17	3.32	3.01	3.56
	0.14	0.00	0.00	0.00	4.84	10.93	11.41	12.29	12.10
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	4.56	4.89	5.04	5.16	16.85	11.72	11.13	10.59	10.24

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-09

Allotment of Securities

2026-09-09 - HDB Financial Services Limited has informed the Exchange regarding allotment of 20000 securities pursuant to Non Convertible Securities at its meeting held on September 09, 2026

2026-08-24

ESOP/ESOS/ESPS

2026-08-24 - HDB Financial Services Limited has informed the Exchange regarding Allotment of 121016 Shares.

2026-08-20

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-20 - HDB Financial Services Limited has informed the Exchange about Schedule of meet

2026-08-14

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-14 - HDB Financial Services Limited has informed the Exchange about Schedule of meet

2026-08-06

Allotment of Securities

2026-08-06 - HDB Financial Services Limited has informed the Exchange regarding allotment of 54450 securities pursuant to Non Convertible Securities at its meeting held on August 06, 2026

2026-08-04

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-04 - HDB Financial Services Limited has informed the Exchange about Schedule of meet

2026-07-28

ESOP/ESOS/ESPS

2026-07-28 - HDB Financial Services Limited has informed the Exchange regarding Allotment of 267243 Shares.

2026-07-28

General Updates

2026-07-28 - HDB Financial Services Limited has informed the Exchange about General Updates

2026-07-23

Allotment of Securities

2026-07-23 - HDB Financial Services Limited has informed the Exchange regarding allotment of 40000 securities pursuant to Non Convertible Securities at its meeting held on July 23, 2026

News

Recent coverage and analyst commentary for HDBFS

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HDB Financial Services Ltd.

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Free 5nance Account

Name

BAJFINANCE

1034.20

31.71

643888.19

0.58

6080.60

27.60

23165.45

20.37

10.87

70.70

SHRIRAMFIN

1028.00

21.37

241893.03

1.05

3452.77

59.90

13400.43

17.46

11.49

74.63

CHOLAFIN

1845.00

27.40

157575.18

0.11

1656.22

45.56

8856.29

21.89

9.70

70.07

TATACAP

362.80

28.50

154003.85

0.16

16281.80

1464.16

88219.30

1051.00

8.66

75.72

JIOFIN

230.00

73.49

151872.26

0.26

830.25

155.73

2004.47

227.28

2.11

69.71

BAJAJHLDNG

11120.70

13.97

123766.17

1.75

2708.08

-92.27

394.33

23.34

14.81

684.72

MUTHOOTFIN

2794.40

9.86

112186.35

1.07

2824.84

43.08

8671.60

36.25

15.87

83.76

ABCAPITAL

398.60

26.59

109118.68

0.00

1223.85

43.85

12179.54

137.84

8.82

41.91

LTF

309.50

24.37

77571.61

0.89

915.99

30.70

5212.92

22.38

8.54

62.13

SBICARD

656.05

27.44

62432.55

0.38

664.44

19.51

5040.55

7.60

11.75

29.83

HDBFS

668.65

25.53

55549.10

0.60

785.20

38.31

4937.90

18.71

9.09

57.98

SUNDARMFIN

4714.65

23.60

52381.58

0.85

636.19

33.88

2644.13

23.37

9.35

80.61

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

7,027

8,725

10,756

10,945

11,306

12,403

14,173

16,300

3,097

3,610

5,101

6,456

6,536

6,153

5,817

6,746

Operating Profit

3,930

5,115

5,655

4,489

4,771

6,250

8,356

9,554

OPM %

55.93%

58.62%

52.58%

41.01%

42.19%

50.39%

58.95%

58.61%

Interest

2,449

3,333

4,081

3,908

3,345

3,533

4,907

6,433

Depreciation

110

108

112

145

194

Profit before Tax

1,436

1,724

1,464

501

1,348

2,627

3,305

2,928

Tax %

35.03%

33.11%

31.39%

21.82%

24.95%

25.43%

25.53%

25.68%

Net Profit

933

1,153

1,005

391

1,011

1,959

2,461

2,176

EPS

11.92

14.69

12.77

4.97

12.80

24.76

31.03

27.34

Dividend Payout %

13.43%

12.26%

0.00%

7.82%

4.44%

9.67%

10.97%

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Equity Capital

783

786

788

789

790

791

793

796

5,235

6,355

7,181

7,594

8,714

10,606

12,880

14,919

37,050

46,644

50,199

51,488

50,188

56,554

74,990

87,995

Trade Payables

280

395

150

334

247

292

403

439

1,804

2,245

2,690

2,304

2,139

1,833

3,886

4,926

Total Liabilities

45,151

56,424

61,008

62,510

62,078

70,076

92,952

1,09,074

137

123

348

270

244

333

185

275

402

568

1,746

1,593

2,234

1,243

3,380

2,060

125

225

Cash & Bank

137

489

563

974

653

654

696

953

44,475

55,244

58,350

59,674

58,948

67,846

88,566

1,05,560

Total Assets

45,151

56,424

61,008

62,510

62,078

70,076

92,952

1,09,074

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

-11,917

-13,177

-8,106

-5,274

-3,211

-11,217

-23,572

-21,479

Cash from Investing

-49

-181

-1,204

131

-703

973

-2,146

1,159

Cash from Financing

8,226

9,445

4,257

608

-1,500

5,796

19,134

12,770

-8

273

398

-246

-81

252

303

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Jun 2020

Mar 2021

Mar 2022

Mar 2023

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

95.30

95.11

94.96

94.84

74.19

74.15

74.12

0.00

4.11

3.17

3.32

3.01

3.56

0.14

0.00

4.84

10.93

11.41

12.29

12.10

Government

0.00

4.56

4.89

5.04

5.16

16.85

11.72

11.13

10.59

10.24

HDB Financial Services Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI

HDB Financial Services Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI