HDB Financial Services
- Market cap
- ₹ 41,964 Cr.
- P/E
- 19.2x
- P/B
- 2.05x
- 52-week range
- 494.15 – 796.7
- ROE
- 14%
- Dividend yield
- 0.8%
- Debt / equity
- 4.83
- Sector
- Finance
- Industry
- Non Banking Financial Company (NBFC)
- Listed on
- NSE, BSE
About
HDB Financial Services Limited is an India-based diversified retail-focused non-banking financial company. The Company offers a portfolio of lending products that cater to a diverse customer base through an omni-channel distribution network. Its lending products are offered through its three business verticals: Enterprise Lending, Asset Finance and Consumer Finance. Its Enterprise Lending products include business loans, loan against property (LAP), enterprise business loan (EBL), salaried personal loans (SPL), and gold loans. Its Asset Finance products include commercial vehicle loans, construction equipment loans and tractor loans. Its Consumer Finance products include Relationship Personal Loans, and Auto Loans. It also offers business process outsourcing (BPO) services such as back-office support services, collection and sales support services to its promoter as well as fee-based products such as distribution of insurance products primarily to its lending customers.
Quick check
The five things to look at first. Open one for more.
Compared with its industry
Non Banking Financial Company (NBFC): 288 companies →HDB Financial Services against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.
- Valuation (P/E)19.2 against a typical 22.7: cheaper than most peers (1st = cheapest).125th of 284
- Sales growth+10.1% against a typical +18.3% from a year earlier.154th of 259
- Profit growth+34.3% against a typical +20.2% from a year earlier.85th of 214
- Share price, 3 months−26% against a typical −4.2%.237th of 258
- Size₹ 41,964.1 Cr. market value against a typical ₹ 43 Cr. (1st = largest).9th of 269
Latest announcements
Exchange filings and their impact on the company.
- 34% profit jump and cleaner asset quality set up 25%+ earnings growth.
HDB Financial Services reported Q2 FY27 net profit of Rs 780.2 crore, up 34% year-on-year, on revenue of Rs 5,005.3 crore, up 10%, with gross Stage 3 assets improving to 2.43% from 2.81% a year ago. The board declared an interim dividend of Rs 2 per share with record date October 23, 2026, and appointed Vinod Koyande as Company Secretary from October 31, 2026. Strong profit momentum and stable asset quality support earnings growth over the next year.
Credit ratings
Every rating action on file, newest first, including reaffirmations. Open a row for the agency's reasoning. All credit rating updates
Highest safety
Rated AAA by 2 agencies- All agencies agree and none has raised a warning.
| Agency | Current rating | Outlook | As of |
|---|---|---|---|
| CRISIL | Crisil AAA | Stable | 13 Oct 2026 |
| CARE | CARE AAA | Stable | 28 Sep 2026 |
| ICRA | Provisional [ICRA]AAA(SO) | — | 3 Feb 2026 |
| Rating | Details | |||||
|---|---|---|---|---|---|---|
| 13 Oct 2026 | Reaffirmed | Crisil AAA | — | CRISIL | ₹ 1,24,818.5 Cr. | |
| 28 Sep 2026 | Withdrawn | was Crisil AAA | — | CRISIL | ₹ 7,581.5 Cr. | |
| 28 Sep 2026 | Reaffirmed | CARE AAA | — | CARE | ₹ 1,51,356.68 Cr. | |
| 2 Sep 2026 | New rating | Provisional CARE AAA (SO) | — | CARE | ₹ 595 Cr. | |
| 14 Apr 2026 | Reaffirmed | Crisil AAA | — | CRISIL | ₹ 1,27,400 Cr. |
Board meetings
Results dates and other board meetings. Full calendar
| Details | ||
|---|---|---|
| 14 Oct 2026 | Dividend | To consider dividend |
| 15 Jul 2026 | Financial Results | To consider and approve the unaudited financial results for the quarter ending June 30, 2026. In view of the above and pursuant to the SEBI (Prohibition of Insider Trading) Regulations, 2015, we also wish to inform you that the window for trading in the securities of the Company shall remain closed from Wednesday, July 1, 2026 to Friday, July 17, 2026 (both days inclusive) for the promoter, designated persons, directors and their immediate relatives, etc. |
| 15 Apr 2026 | Financial Results/Dividend/Fund Raising | To consider and approve the financial results for the period ended March 31, 2026, dividend and Fund Raising |
| 14 Jan 2026 | Financial Results | To consider and approve the financial results for the period ended December 31, 2025 |
| 15 Oct 2025 | Financial Results | To consider and approve the financial results for the period ended September 30, 2025 |
| 15 Jul 2025 | Financial Results | To consider and approve the financial results for the period ended Jun 30, 2025 |
Financials
Consolidated figures in ₹ crore.
| ₹ Cr. | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 3,667 | 3,884 | 4,007 | 4,144 | 4,266 | 4,465 | 4,545 | 4,674 | 4,745 | 4,938 | 5,005 |
| Interest | 1,377 | 1,496 | 1,598 | 1,645 | 1,650 | 1,740 | 1,694 | 1,704 | 1,682 | 1,753 | 1,817 |
| Expenses | 1,368 | 1,560 | 1,561 | 1,809 | 1,858 | 1,942 | 2,017 | 2,058 | 1,997 | 2,075 | 2,087 |
| Financing Profit | 922 | 828 | 847 | 689 | 758 | 784 | 835 | 912 | 1,066 | 1,110 | 1,101 |
| Financing Margin % | 25% | 21% | 21% | 17% | 18% | 18% | 18% | 20% | 22% | 22% | 22% |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 40 | 44 | 48 | 49 | 54 | 51 | 52 | 51 | 54 | 55 | 57 |
| Profit before tax | 882 | 784 | 799 | 641 | 704 | 732 | 782 | 860 | 1,011 | 1,055 | 1,044 |
| Tax % | 26% | 26% | 26% | 26% | 25% | 22% | 26% | 25% | 26% | 26% | 25% |
| Net Profit | 656 | 582 | 591 | 472 | 531 | 568 | 581 | 644 | 751 | 785 | 780 |
| EPS in Rs | 8.27 | 7.33 | 7.44 | 5.95 | 6.67 | 6.84 | 7.01 | 7.76 | 9.04 | 9.46 | 9.39 |
| Gross NPA % | 1.9% | — | 2.1% | 2.3% | 2.3% | 2.6% | 2.8% | 2.8% | 2.4% | — | — |
| Net NPA % | — | — | — | 0.9% | 1% | 1.1% | 1.3% | 1.3% | 1.1% | 1% | — |
Growth and returns
Compounded yearly rates over each period.
- 10 Years
- —
- 5 Years
- 11%
- 3 Years
- 14%
- TTM
- 11%
- 10 Years
- —
- 5 Years
- 45%
- 3 Years
- 9%
- TTM
- 38%
- 10 Years
- —
- 5 Years
- —
- 3 Years
- —
- TTM
- —
- 10 Years
- —
- 5 Years
- 16%
- 3 Years
- 16%
- TTM
- —
P/E and EPS over time
Daily price to earnings ratio.
Peers
Listed companies in the same business.
| HDB Financial Services | ₹ 503.05 | ₹ 41,964 Cr. | 19.2x | 2.1x | 14% | — |
| Bajaj Finance | ₹ 927.00 | ₹ 5,77,146 Cr. | 25x | 5.8x | 18.1% | 23.7% |
| Shriram Finance | ₹ 867.00 | ₹ 2,04,004 Cr. | 13.9x | 3x | 16.4% | 20.9% |
| Jio Financial Services | ₹ 205.00 | ₹ 1,35,364 Cr. | 95.5x | 1.2x | — | 49.8% |
| Tata Capital | ₹ 307.05 | ₹ 1,30,358 Cr. | 20.5x | 3.3x | 12.3% | 16% |
| Power Finance Corporation | ₹ 316.00 | ₹ 1,04,283 Cr. | 5.4x | 1x | 20.7% | 29.1% |
Management
- Ramesh Ganesan
- Chief Executive Officer, Managing Director, Executive Director
- Jaykumar Pravinchandra Shah
- Chief Financial Officer
- Dipti Jayesh Khandelwal
- Compliance Officer, Company Secretary, Head Legal
Prices are delayed and for information only. Nothing on this page is investment advice.