Hdb Financial Services Limited (HDBFS)

About

HDB Financial Services Limited is a non-banking financial company (NBFC) operating in India's finance sector with a market capitalization of ₹57,044 Cr and recent quarterly revenue near ₹4,900 Cr standalone. It maintains consistent operating margins of 56–58% and generates current EPS of approximately ₹9.5 per share. The company is majority promoter-owned at 74%, with growing institutional backing.

Face value: ₹10

Market cap

₹51,335 Cr

P/E

23.6×

P/B

3.1×

Dividend yield

0.6%

ROE

14.7%

ROCE

—

Debt / equity

5.52

OPM

57.2%

EPS (TTM)

₹27.3

Book value

₹198.8

52-week high

—

52-week low

—

Key insights

Company research notes and source-linked reviews

Key risks

Stock valuation: PE of 20.66 with 1-year return of −8.61% and price at upper end of 52-week range (₹686.95 vs ₹559.95–₹800.05); verify margin of safety.
Profitability quality: net profit grew 38% year-on-year whilst revenue grew only 10.6%; verify whether profit growth reflects sustainable operations or one-time benefits.
Asset quality: no data on credit losses, portfolio stress, or provisioning—typical NBFC risks in a tightening credit cycle require verification.
Leverage: D/E ratio not provided; verify whether debt levels are prudent for an NBFC and sustainable if credit spreads widen.

Generated analysis · source review pending

Growth drivers

Revenue grew 10.6% year-on-year (₹4,465 Cr to ₹4,938 Cr); verify whether this reflects asset growth, pricing, or new segments.
Operating margins held steady at 56–58% across quarters, so 10.6% revenue growth translated directly to 38% net profit growth.
EPS jumped 32.5% whilst revenue grew only 10.6%; verify whether operations, share buybacks, or lower share count drives outperformance.
ROE of 12.31% leaves room to improve if capital can deploy at higher returns without raising funding costs.

Generated analysis · source review pending

307 historical price candles were omitted because the exchange source has not been verified.

₹618.2-2%1Y

Quick read

rule-based

Pros

+Healthy operating margin of 57.2%
+High promoter holding of 74.1% with no pledge

Cons

−Heavily leveraged (debt/equity 5.5)
−Weak interest coverage of 1.5×

Research score

Structured signal from quality, growth, valuation and momentum.

50/100

Business quality: 36
Valuation: 63

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Part ofNIFTY MIDCAP 150 NIFTY MIDSMALLCAP 400 NIFTY 500 NIFTY TOTAL MARKET

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Shriram Finance LimitedSHRIRAMFINSHRIRAMFIN	₹1,77,811 Cr	₹4,28,503 Cr	₹49,997 Cr	₹36,981 Cr	73.7%	₹11,318 Cr	20.8%	—	16.4%	—
Tata Capital LimitedTATACAPTATACAP	₹1,35,540 Cr	₹3,71,517 Cr	₹32,695 Cr	₹24,219 Cr	73.2%	₹5,404 Cr	15.5%	—	13.3%	—
Cholamandalam Investment And Finance Company LimitedCHOLAFINCHOLAFIN	₹1,33,352 Cr	₹3,45,452 Cr	₹32,663 Cr	₹22,399 Cr	68.2%	₹5,751 Cr	16.8%	—	19.3%	—
Muthoot Finance LimitedMUTHOOTFINMUTHOOTFIN	₹1,08,289 Cr	₹2,60,075 Cr	₹33,431 Cr	₹27,558 Cr	81.4%	₹11,373 Cr	34%	—	30.9%	—
L&T Finance LimitedLTFLTF	₹66,238 Cr	₹1,76,126 Cr	₹18,928 Cr	₹11,603 Cr	61.1%	₹3,226 Cr	16.7%	—	11.2%	—
Sbi Cards And Payment Services LimitedSBICARDSBICARD	₹53,594 Cr	₹97,658 Cr	₹20,063 Cr	₹5,374 Cr	26.7%	₹2,275 Cr	10.9%	—	14.7%	—
Hdb Financial Services LimitedHDBFSHDBFS	₹51,335 Cr	₹1,38,733 Cr	₹16,300 Cr	₹9,318 Cr	57.2%	₹2,176 Cr	13.4%	—	14.7%	—
Sundaram Finance LimitedSUNDARMFINSUNDARMFIN	₹48,838 Cr	₹1,18,475 Cr	₹10,104 Cr	₹7,957 Cr	78.3%	₹2,220 Cr	21%	—	14.7%	—
Piramal Finance LimitedPIRAMALFINPIRAMALFIN	₹45,868 Cr	₹1,25,857 Cr	₹11,852 Cr	₹7,051 Cr	59.5%	₹1,504 Cr	12.7%	—	5.3%	—
Authum Investment & Infrastructure LimitedAIILAIIL	₹45,797 Cr	₹49,133 Cr	₹2,863 Cr	₹2,451 Cr	88.2%	₹3,582 Cr	74%	—	13.1%	—
Mahindra & Mahindra Financial Services LimitedM&MFINM&MFIN	₹44,445 Cr	₹1,72,816 Cr	₹21,733 Cr	₹13,785 Cr	62.5%	₹3,253 Cr	13.6%	—	11.9%	—
Poonawalla Fincorp LimitedPOONAWALLAPOONAWALLA	₹38,161 Cr	₹86,259 Cr	₹7,813 Cr	₹4,291 Cr	52.7%	₹787 Cr	8%	—	5.9%	—

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2023	Mar 2024	Mar 2025
	12,403	14,171	16,300
Interest	3,512	4,864	6,390
Expenses	6,264	6,002	6,982
Financing profit	2,627	3,305	2,928
Financing margin %	21.2%	23.3%	18%
Other income	—	—	—
Depreciation	—	—	—
Profit before tax	2,627	3,305	2,928
Tax	668	844	752
Tax %	25.4%	25.5%	25.7%
PAT	1,959	2,461	2,176
EPS (₹)	—	—	—

₹ Cr	Mar 2023	Mar 2024	Mar 2025
Equity capital	791	793	796
Reserves	10,646	12,950	15,024
Borrowings	54,865	74,331	87,398
	3,748	4,483	5,446
Total equity & liabilities	70,050	92,557	1,08,663
	143	185	275
CWIP	0	0	0
Investments	1,243	3,380	2,060
	68,664	88,992	1,06,328
Total assets	70,050	92,557	1,08,663

₹ Cr	Mar 2023	Mar 2024	Mar 2025
	-6,851	-16,736	-13,626
	973	-2,146	1,159
Cash from financing	5,796	19,134	12,770
Net cash flow	-81	252	303
Free cash flow	-6,962	-16,859	-13,836
CFO / Operating profit %	-111.6%	-204.9%	-146.2%

Compounded sales growth

7 years: —
5 years: —
3 years: —
1 year: 15%

Compounded profit growth

7 years: —
5 years: —
3 years: —
1 year: -12%

Return on equity

7 years: —
5 years: —
3 years: 16%
Last year: 14%

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2023	Mar 2024	Mar 2025
Margins
Gross margin %	—	—	—
EBITDA margin %	49.5%	57.7%	57.2%
EBIT margin %	49.5%	57.6%	57.2%
PAT margin %	15.8%	17.4%	13.4%
Working capital
Receivable days	2	3	5
Inventory days	—	—	—
Payable days	—	—	—
NWC days	—	—	—
Leverage
Current ratio	—	—	—
Debt to EBITDA	8.94	9.1	9.38
Debt to equity	4.8	5.41	5.52
Interest coverage	1.7	1.7	1.5
Asset turnover	0.18	0.15	0.15
Return ratios
Return on assets %	2.8%	2.7%	2%
Return on capital employed %	—	—	—
Return on equity %	17.1%	17.9%	13.8%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	74.19%	74.19%	74.15%	74.12%	74.12%
	4.11%	3.17%	3.32%	3.01%	3.55%
	5.17%	10.92%	11.41%	12.28%	12.1%
Government	0%	0%	0%	0%	0%
	16.3%	11.49%	10.89%	10.36%	10%
No. of shareholders	—	11,57,250	10,27,204	9,61,497	9,25,474

Promoter holding down 0.07 percentage points since Jun 2025.

17 disclosures

Person	Deal	Shares	Value	Holding	Filed
Premal Brahmbhatt	SellMarket Sale	7,000	₹51.35 L	0.00% → 0.00%	6 Nov 20257(2)
Samir Jaiswal	SellMarket Sale	218	₹1.6 L	0.00% → 0.00%	31 Oct 2025

Mr. Natarajan SrinivasanNon-Executive - Independent Director-Chairperson
Ms. Amla SamantaNon-Executive - Independent Director
Mr. Adayapalam ViswanathanNon-Executive - Independent Director
Ms. Arundhati MechNon-Executive - Independent Director
Mr. Jayesh ChakravarthiNon-Executive - Independent Director
Mr. Bhaskar SharmaNon-Executive - Independent Director
Mr. Jayant GokhaleNon-Executive - Independent Director
Mr. Ramesh GanesanExecutive Director-CEO-MD
Dipti Jayesh KhandelwalCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

50

across 12 fund houses

Held by these funds

5.77%

of the company's equity

All mutual funds

10.59%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

50 schemes · 12 fund houses

		Shares
Portfolio of Kotak Mid Cap FundNEW	Kotak Mahindra Mutual Fund	1.56 Cr	1,066.31	1.5%	1.882%	—
Growth Mid Cap FundNEW	Nippon India Mutual Fund	70.5 L	481.06	0.92%	0.849%	—
Midcap Fund	SBI Mutual Fund	70 L	477.65	1.95%	0.843%	-99,742
Large & Mid Cap Fund	ICICI Prudential Mutual Fund	29.63 L	202.16	0.6%	0.357%	-49.34 L
Banking & Financial Services Fund	ICICI Prudential Mutual Fund	28.74 L	196.1	1.73%	0.346%	-0
Franklin India Mid Cap Fund (Formerly known as Franklin India Prima Fund) ^	Franklin Templeton Mutual Fund	27.08 L	184.81	1.42%	0.326%	+5 L
Banking And Financial Services Fund	SBI Mutual Fund	17.9 L	122.16	1.12%	0.216%	+2 L
Large & Mid Cap Fund	DSP Mutual Fund	15.08 L	102.88	0.56%	0.182%	-0

1–8 of 50

1 / 7

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

30

Annual reports

1

Annual Report FY2026from bse Summary

Offer and rights documents

1

ProspectusListing · 30 Jun 2025

Investor Presentation and earnings call

5

Jul 2026Transcript AI SummaryPPTREC
Apr 2026Transcript AI SummaryPPTREC

Documents link to external sources (exchange filings, company investor pages).

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Events

Upcoming dates and the company’s corporate-action history.

1

Board meeting to consider results14 Oct 2026 · in 13 daysresults

2

Final dividend18 Jun 2026 · ex-date₹2
Interim dividend24 Oct 2025 · ex-date₹2

2

Board meeting to consider results14 Oct 2026
Board meeting to consider results15 Jul 2026

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

22 announcementsExport CSV

15 Jul 2026, 4:28 pmCompany Update

Announcement under Regulation 30 (LODR)-Investor Presentation

Investor Presentation PDF

15 Jul 2026, 4:20 pmBoard Meeting

Board Meeting Outcome for Outcome Of Board Meeting

Outcome of Board Meeting PDF

14 Jul 2026, 6:50 pmCompany Update

Announcement under Regulation 30 (LODR)-Change in Directorate

Change in Directorate PDF

9 Jul 2026, 6:19 pmCompany Update

Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018

Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 PDF

9 Jul 2026, 1:08 pmCompany Update

Announcement under Regulation 30 (LODR)-Allotment

Allotment of Equity Shares PDF

2 Jul 2026, 1:23 pmCompany Update

Announcement under Regulation 30 (LODR)-Allotment

Allotment of Equity Shares PDF

Date	Category	Subject	Filing
15 Jul 2026, 4:28 pm	Company Update Investor Presentation	Announcement under Regulation 30 (LODR)-Investor Presentation	PDF
15 Jul 2026, 4:20 pm	Board Meeting Outcome of Board Meeting	Board Meeting Outcome for Outcome Of Board Meeting

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Hdb Financial Services Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Ratios

Ratio timeline

Shareholding

Quarterly record

Insider dealing

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Annual reports

Offer and rights documents

Investor Presentation and earnings call

Events

Upcoming and recent1

Dividends2

Board meetings2

Announcements

Upcoming and recent1

Dividends2

Board meetings2

Ratio timeline

Quarterly record

Insider dealing

Board and management

Announcements

Annual reports

Offer and rights documents

Investor Presentation and earnings call

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

1

2

2

1

2

2