| Quarterly Financials | Dec 2024 | Mar 2025 |
Revenue  | 4,144 | 4,266 |
| Expenses | 1,809 | 1,858 |
| EBITDA | 2,334 | 2,409 |
| Operating Profit % | 56 % | 56 % |
| Depreciation | 49 | 54 |
| Interest | 1,645 | 1,651 |
| Profit Before Tax | 641 | 704 |
| Tax | 169 | 173 |
| Net Profit | 472 | 531 |
| EPS in ₹ | 5.95 | 6.67 |
HDB Financial Services
HDB Financial Services
727.25
+15.35
(2.16%)
Key Fundamentals
Market Cap
60,330.24 Cr
EPS
27.40
PE Ratio
27.13
Dividend Yield
0.40 %
Industry
-52 Week High
891.90
52 Week Low
705.05
PB Ratio
3.22
Debt to Equity
5.47
Sector
-Analyst Rating and Forecast
- By Refinitiv from8 analysts
Actual
Company News
View All News
HDB Financial Services has issued 25,000 secured redeemable debentures valued at ₹250 crore. The debentures will be listed on BSE with a tenure of 1,806 days and carry an interest rate of 7.3268%.
HDB Financial Services reported gross loan book growth of 13% year-on-year to ₹111,409 crores for the quarter ended September 30, 2025. Net interest income increased 19.6% year-on-year to ₹2,192 crores, while net interest margin improved to 7.9% from 7.5% in the same quarter last year. Profit after tax rose to ₹581 crores from ₹568 crores in the previous quarter. However, credit costs increased to ₹748 crores from ₹670 crores, with gross Stage 3 assets rising to 2.81% from 2.56%. The company faced challenges in commercial vehicle financing due to monsoon-related vehicle idling and asset quality pressures. Management expects improvement in coming quarters driven by festive season demand, GST rate cuts, and better rural consumption. The customer base grew to 21 million, up 19.6% year-on-year, with secured loans comprising 73% of the total loan book.
HDB Financial Services shares opened lower and fell below their IPO price following mixed quarterly performance. The company reported a 1.7% decline in profit to ₹581 crore, missing analyst estimates due to higher provisions. Net interest income grew 20% to ₹2,192 crore with margins improving 20 basis points to 7.9%. Pre-provision operating profit surged 24% to ₹1,530 crore. However, credit costs rose to 2.7%, the highest since Covid, driven by stress in the commercial vehicle segment. The loan book grew 13% to ₹1,11,409 crore while disbursements remained flat. Morgan Stanley maintains 'Equalweight' rating with ₹805 target, while Jefferies has 'Buy' rating with ₹900 target. Management expects credit costs to moderate to 2.2% and targets 18-20% loan growth over the next 3-5 years.
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Growth Rate
Revenue Growth
15.01 %
Net Income Growth
-11.58 %
Cash Flow Change
18.58 %
ROE
-23.23 %
ROCE
-0.53 %
EBITDA Margin (Avg.)
-
Quarterly Financial Results
Balance Sheet
| Balance Sheet | 2024 | 2025 |
| Total Assets | 92,557 | 1,08,663 |
| Fixed Assets | 511 | 735 |
| Current Assets | 1,004 | 1,642 |
| Capital Work in Progress | 0 | 0 |
| Investments | 3,380 | 2,060 |
| Other Assets | 88,665 | 1,05,868 |
| Total Liabilities | 92,557 | 1,08,663 |
| Current Liabilities | 5,658 | 8,971 |
| Non Current Liabilities | 73,156 | 83,873 |
| Total Equity | 13,743 | 15,820 |
| Reserve & Surplus | 12,950 | 15,024 |
| Share Capital | 793 | 796 |
Cash Flow
| Cash Flow | 2018 | 2019 | 2023 | 2024 | 2025 |
| Net Cash Flow | -8 | 273 | -81 | 252 | 303 |
| Investing Activities | -49 | -181 | 973 | -2,146 | 1,159 |
| Operating Activities | -8,186 | -8,991 | -6,851 | -16,736 | -13,626 |
| Financing Activities | 8,226 | 9,445 | 5,796 | 19,134 | 12,770 |
Share Holding
| % Holding | Oct 2024 | Jun 2025 | Jul 2025 | Sept 2025 |
| Promoter | 94.54 % | 74.19 % | 74.19 % | 74.19 % |
| FIIs | 0.00 % | 4.11 % | 0.00 % | 3.17 % |
| DIIs | 0.00 % | 5.17 % | 4.50 % | 10.92 % |
| Government | 0.00 % | 0.00 % | 0.00 % | 0.00 % |
| Public / Retail | 0.00 % | 14.92 % | 14.92 % | 10.22 % |
| Others | 5.46 % | 1.61 % | 6.40 % | 1.50 % |
| No of Share Holders | 41,411 | 49,366 | 25,32,280 | 11,57,250 |
Dividend History
| Annual Cash Flows | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Per Share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 3 |
| Dividend Yield (%) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.42 |
Corporate Action
| Record Date | Corporate Action | Information | Announcement Day | LTP at Annoucement | LTP at Record Day |
|---|---|---|---|---|---|
| 15 Jul 2025 |  Quarterly Result Announcement | NA | 15 Jul 2025 | 843.95 | 844.45 |
| 15 Oct 2025 | Quarterly Result Announcement | NA | 15 Oct 2025 | 767.10 | 740.10 |
| 24 Oct 2025 |  Dividend | ₹ 2.00 /share | 24 Oct 2025 | 740.10 | 743.90 |
Announcements
Announcement under Regulation 30 (LODR)-Allotment
6 days ago
6 days agoAnnouncement under Regulation 30 (LODR)-AllotmentOct 24, 2025
Oct 24, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - OutcomeOct 18, 2025
Oct 18, 2025Audio Recording Of Earnings Call For The Quarter And Half Year Ended September 30 2025Oct 15, 2025
Oct 15, 2025Announcement under Regulation 30 (LODR)-Monitoring Agency ReportOct 15, 2025
Oct 15, 2025Corporate Action-Board approves DividendOct 15, 2025
Oct 15, 2025Statement Of Deviation(S) Or Variation(S)Oct 15, 2025
Oct 15, 2025Announcement under Regulation 30 (LODR)-Press Release / Media ReleaseOct 15, 2025
Oct 15, 2025Announcement under Regulation 30 (LODR)-Investor PresentationOct 15, 2025
Oct 15, 2025Board Meeting Outcome for Unaudited Financial Results For The Quarter And Half Year Ended September 30 2025Oct 15, 2025
Oct 15, 2025Grant Of Options Under Employees Stock Options Scheme (ESOP Plan 18A ESOP Plan 18B And ESOP Plan 18C)Oct 14, 2025
Oct 14, 2025Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations 2018Oct 14, 2025
Oct 14, 2025Announcement under Regulation 30 (LODR)-AllotmentOct 09, 2025
Oct 09, 2025Announcement under Regulation 30 (LODR)-Issue of SecuritiesOct 09, 2025
Oct 09, 2025Update on board meetingOct 08, 2025
Oct 08, 2025Intimation Under Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015Oct 04, 2025
Oct 04, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationSep 29, 2025
Sep 29, 2025Closure of Trading WindowSep 26, 2025
Sep 26, 2025Board Meeting Intimation for Intimation Under Regulation 29(1) Read With Regulation 50(1) Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015 And SEBI (Prohibition Of Insider Trading) Regulations 2015Sep 26, 2025
Sep 26, 2025Announcement under Regulation 30 (LODR)-AllotmentSep 25, 2025
Sep 25, 2025Announcement under Regulation 30 (LODR)-AllotmentSep 12, 2025
Sep 12, 2025Shareholder Meeting / Postal Ballot-Outcome of Postal_BallotSep 04, 2025
Sep 04, 2025Announcement under Regulation 30 (LODR)-AllotmentSep 01, 2025
Sep 01, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationAug 25, 2025
Aug 25, 2025Announcement under Regulation 30 (LODR)-AllotmentAug 22, 2025
Aug 22, 2025Announcement under Regulation 30 (LODR)-Issue of SecuritiesAug 14, 2025
Aug 14, 2025Announcement under Regulation 30 (LODR)-Issue of SecuritiesAug 07, 2025
Aug 07, 2025Shareholder Meeting / Postal Ballot-Notice of Postal BallotAug 04, 2025
Aug 04, 2025Announcement under Regulation 30 (LODR)-Earnings Call TranscriptJul 21, 2025
Jul 21, 2025Announcement under Regulation 30 (LODR)-AllotmentJul 17, 2025
Jul 17, 2025Audio Recording Of Earnings Call For The Quarter Ended June 30 2025Jul 15, 2025
Jul 15, 2025Announcement under Regulation 30 (LODR)-Investor PresentationJul 15, 2025
Jul 15, 2025Announcement under Regulation 30 (LODR)-Press Release / Media ReleaseJul 15, 2025
Jul 15, 2025Board Meeting Outcome for Submission Of Unaudited Standalone Financial Results Along With Limited Review Report For The Quarter Ended June 30 2025 Security Cover Certificate And Statement Of UtilisationJul 15, 2025
Jul 15, 2025Submission Of Unaudited Standalone Financial Results Along With Limited Review Report For The Quarter Ended June 30 2025 Security Cover Certificate And Statement Of UtilisationJul 15, 2025
Jul 15, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationJul 09, 2025
Jul 09, 2025Board Meeting Intimation for Approval Of Financial Results For The Quarter Ended June 30 2025Jul 08, 2025
Jul 08, 2025Disclosures under Reg. 29(2) of SEBI (SAST) Regulations 2011Jul 04, 2025
Jul 04, 2025Intimation Pursuant To Regulation 8(1) And 8(2) Of The SEBI (Prohibition Of Insider Trading) Regulations 2015Jul 02, 2025
Jul 02, 2025Disclosure Under Regulation 30(5) Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015Jul 02, 2025
Jul 02, 2025Closure of Trading WindowJul 02, 2025
Jul 02, 2025Listing of Equity Shares of HDB Financial Services LtdJul 02, 2025
Jul 02, 2025Mutual Fund Holdings
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RSI(14)
Neutral 31.59
ATR(14)
Volatile 11.85
STOCH(9,6)
Oversold 17.68
STOCH RSI(14)
Neutral 29.45
MACD(12,26)
Bearish -0.72
ADX(14)
Strong Trend 25.54
UO(9)
Bearish 32.53
ROC(12)
Downtrend And Accelerating -3.79
WillR(14)
Oversold -84.00
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