HDFC Bank Ltd logo

HDFC Bank Ltd

HDFCBANK NSE

Key Fundamentals

LargecapPrivate BankBanks
Market Cap
11.3L Cr
Volatility
Moderate
P/E Ratio
14.24
EBITDA
1.1L Cr
Return on Equity
13.02%
Debt to Equity
0
Book Value
₹390.29
EPS
₹89.49
52W High
₹1,020.5
52W Low
₹726.65

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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54 extracted metrics + investor summaries across FY15–FY26.

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Tapetide Score

Data-driven rating, 0–100. How it works →

Technical Indicators

Key Insights

Strengths

3
  • Company has delivered good profit growth of 18.9% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 26.1%
  • Company's median sales growth is 16.3% of last 10 years

Weaknesses

3
  • Company has low interest coverage ratio.
  • Contingent liabilities of Rs.35,61,957 Cr.
  • Earnings include an other income of Rs.1,43,700 Cr.

Growth Rate

Revenue Growth
5.21% ↘
Net Income Growth
7.87% ↗
Cash Flow Change
-10.80% ↘
ROE
-4.62% ↘
ROCE
-8.15% ↘
EBITDA Margin (Avg.)
-2.32% ↘

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 7d ago
AI opinion · based on fundamentals
Risk medium

HDFC Bank Ltd, India's largest private sector bank by market cap of ₹11.56 lakh crore, trades at a PE of 14.1x and PB of 1.94x. The bank has delivered 18.9% profit CAGR over 5 years but recent TTM sales growth has decelerated to 3%, and the stock has declined 26% over the past 1 year.

Bull Case 7
  • Strong long-term profit compounding at 19% CAGR over 10 years demonstrates consistent earnings power
  • PE of 14.1x is below the bank's historical average multiples, suggesting compressed valuations relative to its own track record
  • Healthy dividend payout of 26.1% with a current dividend yield of 2.39%, providing tangible shareholder returns
  • Median sales growth of 16.3% over the last 10 years reflects a sustained ability to grow the loan book and fee income
  • Compounded sales growth of 22% over 5 years and 27% over 3 years (boosted by HDFC Ltd merger) shows scale expansion
  • ROE has remained steady at 14-16% range over the past decade, indicating disciplined capital allocation
  • Market cap of ₹11.56 lakh crore and PB of 1.94x offer relative comfort on balance sheet strength for a franchise of this scale
Bear Case 8
  • TTM sales growth has sharply decelerated to just 3%, down from 27% three-year CAGR, raising questions about post-merger growth normalization
  • Stock price CAGR of -26% over 1 year and -3% over 3 years shows sustained underperformance and market skepticism
  • Contingent liabilities of ₹35,61,957 crore represent a significant off-balance-sheet exposure relative to operations
  • Low interest coverage ratio flagged as a structural concern, unusual for a bank of this scale and profitability
  • Other income of ₹1,43,700 crore forms a large component of earnings, raising questions about core operating income quality
  • ROE declined to 14% in the last year from a 10-year average of 16%, suggesting post-merger dilution impact on return ratios
  • 10-year stock CAGR of only 9% lags the broader market indices, indicating prolonged value erosion for long-term holders
  • TTM profit growth of 12% while healthy in absolute terms, marks a deceleration from the 18-19% CAGR trend of prior years

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 1d ago
Headwinds 1
  • US securities fraud probe Jul 21

    Law Offices of Frank R. Cruz investigating HDFC Bank for potential federal securities violations related to alleged improper payments to secure deposits. Stock fell 4.1% on May 27, 2026 following initial reports of ₹450M payments to Maharashtra road corp disguised as marketing.

Positives 4
  • AGM approves capital raise Aug 5

    Shareholders passed all resolutions at the 32nd AGM including a special resolution to issue perpetual debt and Tier II capital instruments, and appointed Rajiv Kumar as Independent Director.

  • Faster advances growth targeted Jul 20

    HDFC Bank expects accelerated growth in advances, particularly mid-market segment supported by ECLGS 5.0, with plans to capture major FCNR market share in Jul-Sep and expand retail loans including vehicle, unsecured, and mortgages.

  • Carbon neutrality by FY32 Jul 11

    HDFC Bank achieved 15.8% reduction in Scope 2 emissions in FY26 and targets carbon neutrality by FY32, with 27% female employee representation.

  • Digital and AI overhaul planned Jul 20

    Bank outlined 'One Customer View' strategy with ongoing investments in AI, security technologies, and digital adoption to deliver integrated personalised banking experience.

Neutral 5
  • Multiple institutional block trades Aug 6

    Four block trades recorded between Jul 16 and Aug 6 ranging from ₹19.77 crore to ₹197.84 crore, with share prices between ₹738.20 and ₹814.50, indicating sustained institutional activity.

  • $1B AT1 notes redemption Jul 25

    HDFC Bank exercising call option on US$1 billion 3.7% Additional Tier 1 Notes, redeeming at 100% principal plus accrued interest on August 25, 2026.

  • Rajiv Kumar appointed Chairman Jul 15

    RBI approved Rajiv Kumar as Part-time Chairman for 3 years from July 15, 2026, replacing Keki Mistry who stepped down from interim role.

  • Form 20-F filed with SEC Jul 29

    HDFC Bank filed annual report on Form 20-F with the SEC on July 29, 2026, covering fiscal year ended March 31, 2026.

  • Q1FY27 earnings call scheduled Jul 9

    HDFC Bank scheduled earnings call on July 18, 2026 to discuss unaudited financial results for quarter ended June 30, 2026.

TL;DR: HDFC Bank is executing well on growth strategy with approved capital raise, ambitious advances growth targets, and a clear digital transformation roadmap. The key risk is the ongoing US securities fraud investigation related to alleged improper deposit payments, which already triggered a 4.1% stock drop. Institutional activity remains strong with multiple large block trades, and new leadership under Chairman Rajiv Kumar provides governance stability. The operational outlook is constructive but the US probe remains an overhang until resolved.

Quarterly Results

  Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue
51,168
75,039
78,008
79,434
81,546
83,002
85,040
86,779
87,372
86,994
87,067
87,182
90,575
Expenses
18,470
45,349
50,530
62,938
49,690
52,074
41,307
47,709
64,497
45,161
54,145
44,028
58,292
Financing Profit
6,744
-11,560
-15,764
-27,196
-12,723
-14,487
-3,181
-7,916
-24,833
-4,908
-12,899
-2,066
-15,342
Fin. Margin %
13%
-15%
-20%
-34%
-16%
-17%
-4%
-9%
-28%
-6%
-15%
-2%
-17%
Other Income
9,853
32,528
37,007
44,958
35,450
38,455
27,154
33,489
45,683
31,567
39,860
29,737
42,535
Interest
25,955
41,250
43,242
43,692
44,580
45,414
46,914
46,986
47,709
46,741
45,821
45,220
47,626
Depreciation
0
0
0
0
0
0
0
0
0
0
0
0
0
PBT
16,597
20,967
21,243
17,761
22,727
23,968
23,973
25,573
20,850
26,659
26,961
27,672
27,193
Tax %
25%
17%
17%
-1%
24%
22%
24%
25%
18%
24%
23%
24%
25%
Net Profit
12,403
17,312
17,718
18,013
17,188
18,627
18,340
19,285
17,090
20,364
20,691
21,074
20,383
EPS in Rs
11.06
11.09
11.37
11.6
10.83
11.68
11.54
12.31
10.6
12.76
12.87
13.22
12.5
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Revenue
50,666
63,162
73,271
85,288
1,05,161
1,22,189
1,28,552
1,35,936
1,70,754
2,83,649
3,36,367
3,48,615
3,51,819
Expenses
16,164
20,055
23,856
29,532
34,856
45,459
52,457
56,557
63,042
1,74,196
1,86,974
2,03,635
2,01,625
Financing Profit
7,214
9,037
11,374
13,374
16,592
14,593
16,848
20,795
29,932
-44,685
-34,501
-40,511
-35,215
Fin. Margin %
14%
14%
16%
16%
16%
12%
13%
15%
18%
-16%
-10%
-12%
-10%
Other Income
9,546
11,212
12,905
16,057
18,947
24,879
27,333
31,759
33,912
1,24,346
1,34,548
1,46,848
1,43,700
Interest
27,288
34,070
38,042
42,381
53,713
62,137
59,248
58,584
77,780
1,54,139
1,83,894
1,85,491
1,85,408
Depreciation
680
738
886
967
1,221
1,277
1,385
1,681
2,345
3,092
3,805
4,195
0
PBT
16,079
19,511
23,393
28,464
34,318
38,195
42,796
50,873
61,498
76,569
96,242
1,02,141
1,08,485
Tax %
33%
34%
35%
35%
35%
29%
26%
25%
25%
15%
24%
22%
—
Net Profit
10,703
12,821
15,317
18,561
22,446
27,296
31,857
38,151
46,149
65,446
73,440
79,219
82,512
EPS in Rs
10.66
12.66
14.91
17.83
20.5
24.85
28.87
34.31
41.22
42.16
46.26
49.39
51.35
Div. Payout %
19%
19%
18%
18%
18%
5%
11%
23%
23%
23%
24%
31%
—
Figures in ₹ Crores

Balance Sheet

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
501
506
513
519
545
548
551
555
558
760
765
1,539
Reserves
62,653
73,798
91,281
1,09,080
1,53,128
1,75,810
2,09,259
2,46,772
2,88,880
4,55,636
5,21,024
5,84,520
Borrowing
59,478
1,03,714
98,416
1,56,442
1,57,733
1,86,834
1,77,697
2,26,966
2,56,549
7,30,615
6,34,606
5,88,485
Deposits
4,50,284
5,45,873
6,43,134
7,88,375
9,22,503
11,46,207
13,33,721
15,58,003
18,82,663
23,76,887
27,10,898
30,99,638
Other Liabilities
34,181
38,321
59,000
48,770
58,898
71,430
78,279
90,639
1,01,783
4,66,296
5,24,817
6,33,519
Total Liabilities
6,07,097
7,62,212
8,92,344
11,03,186
12,92,806
15,80,830
17,99,507
21,22,934
25,30,432
40,30,194
43,92,110
49,07,701
Fixed Assets
3,225
3,667
4,000
4,008
4,369
4,776
5,248
6,432
8,431
12,604
15,258
16,492
CWIP
0
0
0
0
0
0
0
0
0
0
0
0
Investments
1,49,454
1,93,634
2,10,777
2,38,461
2,89,446
3,89,305
4,38,823
4,49,264
5,11,582
10,05,682
11,86,473
12,80,216
Other Assets
4,54,417
5,64,912
6,77,567
8,60,717
9,98,991
11,86,750
13,55,435
16,67,238
20,10,419
30,11,909
31,90,379
36,10,993
Total Assets
6,07,097
7,62,212
8,92,344
11,03,186
12,92,806
15,80,830
17,99,507
21,22,934
25,30,432
40,30,194
43,92,110
49,07,701
Figures in ₹ Crores

Cash Flow

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
-21,281
-34,435
17,282
17,214
-62,872
-16,869
42,476
-11,960
20,814
19,069
1,27,242
1,13,506
Investing
-800
-837
-1,146
-842
-1,503
-1,403
-1,823
-2,051
-2,992
16,600
-3,651
7,477
Financing
18,694
37,815
-5,893
57,378
23,131
24,394
-7,321
48,124
23,941
-3,983
-1,02,478
-59,005
Net Cash Flow
-3,387
2,542
10,242
73,750
-41,244
6,122
33,332
34,113
41,762
31,687
21,113
61,978
Free Cash Flow
-22,020
-35,301
16,134
16,377
-64,470
-18,486
40,796
-14,176
17,390
14,882
1,23,267
1,10,144
CFO/OP
-45
-63
51
49
-72
-8
73
4
35
38
98
94
Figures in ₹ Crores

Ratios

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROE %
20%
19%
18%
18%
17%
16%
16%
17%
17%
17%
14%
14%

Shareholding Pattern

As of Jun 2026
DIIs 41.92%
FIIs 41.83%
Public 13.04%
Others 3.21%
Total 100.00%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Jul 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Aug 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters
25.97%
25.89%
25.83%
25.80%
25.78%
25.73%
25.64%
25.60%
25.59%
25.52%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.02%
0.02%
0.02%
0.02%
0.02%
0.02%
47.83%
47.17%
48.01%
49.20%
48.30%
48.84%
48.61%
48.39%
47.67%
44.05%
41.83%
DIIs
16.62%
17.22%
17.52%
17.91%
16.91%
18.80%
25.96%
28.38%
28.34%
25.30%
30.01%
28.54%
28.61%
33.60%
35.48%
35.31%
34.56%
35.86%
35.96%
36.04%
36.26%
37.19%
40.32%
41.92%
Government
0.24%
0.16%
0.16%
0.16%
0.16%
0.16%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
10.55%
10.94%
10.97%
11.26%
11.49%
12.33%
11.74%
11.59%
11.33%
11.62%
12.80%
13.38%
13.06%
14.55%
13.56%
13.02%
12.63%
12.39%
12.09%
12.23%
12.24%
12.06%
12.51%
13.04%
Others
46.62%
45.79%
45.53%
44.88%
45.67%
42.98%
36.66%
34.42%
34.73%
37.54%
57.17%
58.06%
58.31%
4.01%
3.79%
3.65%
3.60%
3.45%
3.11%
3.12%
3.11%
3.07%
3.13%
3.21%
No. of Shareholders
13,75,290
15,22,690
15,98,810
18,88,280
21,51,630
26,60,580
25,20,910
23,03,290
22,90,090
23,45,670
27,14,080
30,58,660
30,18,250
41,21,820
36,64,320
39,21,910
39,24,440
38,29,150
37,25,910
36,03,860
37,01,270
36,50,090
42,30,420
45,32,750

Documents

Frequently Asked Questions about HDFC Bank Ltd

What does HDFC Bank Ltd do?
HDFC Bank Limited (also known as HDFC) is an Indian banking and financial services company headquartered in Mumbai. It is India's largest private sector bank by assets and the world's tenth-largest bank by market capitalization as of May 2024. As of April 2024, HDFC Bank has a market capitalizati...
Where is HDFC Bank Ltd (HDFCBANK) listed?
HDFC Bank Ltd is listed on the Indian stock exchanges. It is listed on NSE: HDFCBANK and BSE: 500180. You can view its live share price, financials, and ratios on Tapetide.
Which sector does HDFC Bank Ltd belong to?
HDFC Bank Ltd operates in the Banks sector within the Private Bank industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of HDFC Bank Ltd?
HDFC Bank Ltd has a market capitalisation of approximately ₹1131266.46 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of HDFC Bank Ltd?
The Price-to-Earnings (PE) ratio of HDFC Bank Ltd is 14.24. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of HDFC Bank Ltd?
Over the past 52 weeks, HDFC Bank Ltd has traded between a low of ₹726.65 and a high of ₹1,020.5. This range helps investors understand the stock's price volatility and recent trading levels.
Does HDFC Bank Ltd pay dividends?
Yes, HDFC Bank Ltd has a dividend yield of 2.45%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of HDFC Bank Ltd?
HDFC Bank Ltd has a Return on Equity (ROE) of 13.02%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research HDFC Bank Ltd on Tapetide?
On Tapetide, you can view HDFC Bank Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

HDFC Bank Limited (also known as HDFC) is an Indian banking and financial services company headquartered in Mumbai. It is India's largest private sector bank by assets and the world's tenth-largest bank by market capitalization as of May 2024. As of April 2024, HDFC Bank has a market capitalization of $145 billion, making it the third-largest company on the Indian stock exchanges. [1]

Website hdfcbank.com
CEO Mr. Sashidhar Jagdishan
Employees 2,15,739
Listed 1995-05-19
Face Value ₹ 1
Issued Size 15,38,45,77,216

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