HDB Financial Services Ltd
HDB Financial Services Ltd
Financial ServicesKey Fundamentals
MidcapFinanceFinancial ServicesInsights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view HDB Financial Services Ltd insights
28 extracted metrics + investor summaries across FY16–FY26.
Tapetide Score
Data-driven rating, 0–100. How it works →
Technical Indicators
Key Insights
Weaknesses
5- Stock is trading at 2.76 times its book value
- 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
Growth Rate
AI Analysis — Bull vs Bear
HDB Financial Services, a subsidiary of HDFC Bank, trades at a market cap of ~₹58,000 Cr with a PE of 20.8x and PB of 2.78x. TTM profit growth is strong at 28%, though 5-year sales CAGR remains modest at 11%. ROE has declined from 16% (3-year average) to 14% in the last year.
- Strong TTM profit growth of 28% indicates improving profitability momentum
- Backed by HDFC Bank parentage, providing access to capital, brand trust, and distribution network
- 3-year compounded profit growth of 9% despite COVID disruptions shows resilience
- 5-year compounded profit CAGR of 45% reflects long-term earnings scalability
- PE of 20.8x is reasonable for a financial services company with double-digit growth
- TTM sales growth of 12% shows continued top-line expansion
- 3-year ROE average of 16% demonstrates consistent return generation above cost of equity
- Stock trading at 2.78x book value is expensive for an NBFC with 14% ROE, limiting margin of safety
- Low interest coverage ratio raises concerns about debt servicing ability in a rising rate environment
- 5-year sales CAGR of only 11% is poor for a mid-stage financial services company
- ROE declined from 16% (3-year average) to 14% last year, signaling potential return compression
- Dividend payout of just 11.2% over last 3 years offers minimal income to shareholders
- Potential capitalization of interest costs may overstate reported profitability
- Stock has declined 13% over the past 1 year, underperforming broader markets
- Dividend yield of only 0.58% provides negligible downside cushion
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
- Jimmy Tata appointed as director Jul 28
Board approved Jimmy Tata as Non-Executive Director, nominee of HDFC Bank, pending RBI and shareholder approval. Strengthens governance linkage with parent bank.
- ₹5,445 Cr NCD allotment at 8.23% Aug 6
Allotted ₹5,445 crore secured redeemable NCDs at 8.2301% interest rate, maturing July 5, 2029, secured by hypothecation over receivables.
- Analyst meet scheduled Aug 21 Aug 14
In-person group meeting with analysts and institutional investors scheduled for August 21, 2026 in Varanasi.
- August investor conference participation Aug 4
Participating in three major conferences in Mumbai in August 2026, including Emkay Confluence and Equirus Annual India Conference.
TL;DR: HDBFS is in a steady operational phase with no material headwinds surfacing in recent news. The company is actively engaging investors through multiple conferences and secured ₹5,445 Cr in debt funding at competitive rates. The Jimmy Tata board appointment signals continued alignment with HDFC Bank's governance. Outlook is stable with upcoming analyst interactions likely to provide more forward visibility.
Quarterly Results
| Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 3,667 | 3,884 | 4,007 | 4,144 | 4,266 | 4,465 | 4,545 | 4,674 | 4,745 | 4,938 |
| Expenses | 1,368 | 1,560 | 1,561 | 1,809 | 1,858 | 1,942 | 2,017 | 2,058 | 1,997 | 2,075 |
| Financing Profit | 922 | 828 | 847 | 689 | 758 | 784 | 835 | 912 | 1,066 | 1,110 |
| Fin. Margin % | 25% | 21% | 21% | 17% | 18% | 18% | 18% | 20% | 22% | 22% |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest | 1,377 | 1,496 | 1,598 | 1,645 | 1,650 | 1,740 | 1,694 | 1,704 | 1,682 | 1,753 |
| Depreciation | 40 | 44 | 48 | 49 | 54 | 51 | 52 | 51 | 54 | 55 |
| PBT | 882 | 784 | 799 | 641 | 704 | 732 | 782 | 860 | 1,011 | 1,055 |
| Tax % | 26% | 26% | 26% | 26% | 25% | 22% | 26% | 25% | 26% | 26% |
| Net Profit | 656 | 582 | 591 | 472 | 531 | 568 | 581 | 644 | 751 | 785 |
| EPS in Rs | 8.27 | 7.33 | 7.44 | 5.95 | 6.67 | 6.84 | 7.01 | 7.76 | 9.04 | 9.46 |
| Gross NPA % | 1.9% | — | 2.1% | 2.25% | 2.26% | 2.56% | 2.81% | 2.81% | 2.44% | — |
| Net NPA % | — | — | — | 0.9% | 0.99% | 1.11% | 1.27% | 1.25% | 1.09% | 1.04% |
Profit & Loss
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|
| Revenue | 10,945 | 11,312 | 12,403 | 14,173 | 16,300 | 18,431 | 18,902 |
| Expenses | 6,451 | 6,540 | 6,153 | 5,817 | 6,745 | 7,980 | 8,147 |
| Financing Profit | 610 | 1,446 | 2,738 | 3,449 | 3,122 | 3,595 | 3,922 |
| Fin. Margin % | 6% | 13% | 22% | 24% | 19% | 20% | 21% |
| Other Income | -2 | 0 | 1 | 1 | 0 | 1 | 0 |
| Interest | 3,883 | 3,326 | 3,512 | 4,907 | 6,433 | 6,856 | 6,834 |
| Depreciation | 108 | 99 | 112 | 145 | 194 | 209 | 213 |
| PBT | 501 | 1,348 | 2,627 | 3,305 | 2,928 | 3,386 | 3,709 |
| Tax % | 22% | 25% | 25% | 26% | 26% | 25% | — |
| Net Profit | 391 | 1,011 | 1,959 | 2,461 | 2,176 | 2,544 | 2,761 |
| EPS in Rs | 4.96 | 12.8 | 24.76 | 31.03 | 27.34 | 30.64 | 33.27 |
| Div. Payout % | 0% | 8% | 8% | 10% | 11% | 13% | — |
Balance Sheet
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Equity Capital | 789 | 790 | 791 | 793 | 796 | 830 |
| Reserves | 7,657 | 8,749 | 10,646 | 12,950 | 15,024 | 19,834 |
| Borrowing | 50,359 | 48,973 | 54,865 | 74,331 | 89,682 | 99,230 |
| Other Liabilities | 3,836 | 3,513 | 3,748 | 4,483 | 3,161 | 3,757 |
| Total Liabilities | 62,641 | 62,026 | 70,050 | 92,557 | 1,08,663 | 1,23,651 |
| Fixed Assets | 317 | 293 | 387 | 511 | 735 | 773 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 1,593 | 2,234 | 1,243 | 3,380 | 2,060 | 3,748 |
| Other Assets | 60,731 | 59,500 | 68,420 | 88,665 | 1,05,868 | 1,19,130 |
| Total Assets | 62,641 | 62,026 | 70,050 | 92,557 | 1,08,663 | 1,23,651 |
Cash Flow
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Operating | -342 | 1,987 | -6,851 | -16,736 | -13,626 | -8,606 |
| Investing | 131 | -703 | 973 | -2,146 | 1,159 | -1,772 |
| Financing | 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 |
| CFO/OP | -12 | 42 | -99 | -191 | -135 | -74 |
Ratios
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| ROE % | 5% | 11% | 19% | 20% | 15% | 14% |
Documents
Frequently Asked Questions about HDB Financial Services Ltd
What does HDB Financial Services Ltd do?
Where is HDB Financial Services Ltd (HDBFS) listed?
Which sector does HDB Financial Services Ltd belong to?
What is the market capitalisation of HDB Financial Services Ltd?
What is the PE ratio of HDB Financial Services Ltd?
What is the 52-week high and low of HDB Financial Services Ltd?
Does HDB Financial Services Ltd pay dividends?
What is the Return on Equity (ROE) of HDB Financial Services Ltd?
How can I research HDB Financial Services Ltd on Tapetide?
Company Information
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]