HDFC Bank Ltd

Financial Services F&O

NSE: HDFCBANK BSE: 500180 Private Sector Bank

Key Fundamentals

LargecapPrivate BankBanks

Market Cap

13.5L Cr

Volatility

Moderate

P/E Ratio

17.3

Book Value

₹364.18

52W High

₹1,020.5

52W Low

₹835.03

Technical Indicators

Key Insights

▲

Strengths

Company has delivered good profit growth of 21.0% CAGR over last 5 years
Company has been maintaining a healthy dividend payout of 23.3%
Company's median sales growth is 17.5% of last 10 years

▼

Weaknesses

Company has low interest coverage ratio.
Contingent liabilities of Rs.27,80,601 Cr.
Earnings include an other income of Rs.1,50,600 Cr.

Growth Rate

Revenue Growth

15.42% ↗

Net Income Growth

7.00% →

Cash Flow Change

ROE

14.00% ↗

ROCE

EBITDA Margin (Avg.)

Quarterly Results

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Depreciation	0	0	0	0	0	0	0	0	0	0	0	0	0
EPS in Rs	11.39	11.29	11.06	11.09	11.37	11.6	10.83	11.68	11.54	12.31	10.6	12.76	12.87
Expenses	16,682	17,770	18,470	45,349	50,530	62,938	49,690	52,074	41,307	47,709	64,497	45,161	54,145
Financing Margin %	17%	15%	13%	-15%	-20%	-34%	-16%	-17%	-4%	-9%	-28%	-6%	-15%
Financing Profit	7,815	7,172	6,744	-11,560	-15,764	-27,196	-12,723	-14,487	-3,181	-7,916	-24,833	-4,908	-12,899
Interest	20,505	22,606	25,955	41,250	43,242	43,692	44,580	45,414	46,914	46,986	47,709	46,741	45,821
Net Profit	12,735	12,634	12,403	17,312	17,718	18,013	17,188	18,627	18,340	19,285	17,090	20,364	20,691
Other Income	9,121	9,610	9,853	32,528	37,007	44,958	35,450	38,455	27,154	33,489	45,683	31,567	39,860
Profit before tax	16,936	16,783	16,597	20,967	21,243	17,761	22,727	23,968	23,973	25,573	20,850	26,659	26,961
Revenue	45,002	47,548	51,168	75,039	78,008	79,434	81,546	83,002	85,040	86,779	87,372	86,994	87,067
Tax %	25%	25%	25%	17%	17%	-1%	24%	22%	24%	25%	18%	24%	23%

Profit & Loss

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Depreciation	689	680	738	886	967	1,221	1,277	1,385	1,681	2,345	3,092	3,805	0
Dividend Payout %	19%	19%	19%	18%	18%	18%	5%	11%	23%	23%	23%	24%	—
EPS in Rs	9.11	10.66	12.66	14.91	17.83	20.5	24.85	28.87	34.31	41.22	42.16	46.26	48.54
Expenses	13,508	16,164	20,055	23,856	29,532	34,856	45,459	52,457	56,557	63,042	1,74,196	1,86,974	2,11,511
Financing Margin %	13%	14%	14%	16%	16%	16%	12%	13%	15%	18%	-16%	-10%	-15%
Financing Profit	5,602	7,214	9,037	11,374	13,374	16,592	14,593	16,848	20,795	29,932	-44,685	-34,501	-50,556
Interest	23,445	27,288	34,070	38,042	42,381	53,713	62,137	59,248	58,584	77,780	1,54,139	1,83,894	1,87,257
Net Profit	8,768	10,703	12,821	15,317	18,561	22,446	27,296	31,857	38,151	46,149	65,446	73,440	77,430
Other Income	8,298	9,546	11,212	12,905	16,057	18,947	24,879	27,333	31,759	33,912	1,24,346	1,34,548	1,50,600
Profit before tax	13,211	16,079	19,511	23,393	28,464	34,318	38,195	42,796	50,873	61,498	76,569	96,242	1,00,043
Revenue	42,555	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	3,48,212
Tax %	34%	33%	34%	35%	35%	35%	29%	26%	25%	25%	15%	24%	—

Balance Sheet

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Borrowing	49,597	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	5,99,507
CWIP	0	0	0	0	0	0	0	0	0	0	0	0	0
Deposits	3,67,080	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	27,98,170
Equity Capital	480	501	506	513	519	545	548	551	555	558	760	765	1,536
Fixed Assets	3,026	3,225	3,667	4,000	4,008	4,369	4,776	5,248	6,432	8,431	12,604	15,258	15,538
Investments	1,19,571	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	12,50,391
Other Assets	3,81,023	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	32,48,813
Other Liabilities	42,776	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	5,77,920
Reserves	43,687	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	5,37,608
Total Assets	5,03,620	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	45,14,741
Total Liabilities	5,03,620	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	45,14,741

Cash Flow

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Financing Activity	9,270	18,694	37,815	-5,893	57,378	23,131	24,394	-7,321	48,124	23,941	-3,983	-1,02,478
Cash from Investing Activity	-1,099	-800	-837	-1,146	-842	-1,503	-1,403	-1,823	-2,051	-2,992	16,600	-3,651
Cash from Operating Activity	4,211	-21,281	-34,435	17,282	17,214	-62,872	-16,869	42,476	-11,960	20,814	19,069	1,27,242
Net Cash Flow	12,382	-3,387	2,542	10,242	73,750	-41,244	6,122	33,332	34,113	41,762	31,687	21,113

Ratios

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
ROE %	22%	20%	19%	18%	18%	17%	16%	16%	17%	17%	17%	14%

Shareholding Pattern

37.0%

47.7%

15.1%

DIIs: 37.00% FIIs: 47.67% Government: 0.18% Public: 15.11%

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
DIIs	28.09%	26.75% ↓1.3	30.39% ↑3.6	30.54% ↑0.1	33.33% ↑2.8	35.20% ↑1.9	35.05% ↓0.2	34.37% ↓0.7	35.68% ↑1.3	35.77% ↑0.1	36.07% ↑0.3	37.00% ↑0.9
FIIs	32.24%	33.38% ↑1.1	52.13% ↑18.8	52.31% ↑0.2	47.83% ↓4.5	47.17% ↓0.7	48.02% ↑0.9	49.21% ↑1.2	48.30% ↓0.9	48.84% ↑0.5	48.38% ↓0.5	47.67% ↓0.7
Government	0.16%	0.16%	0.17% ↑0.0	0.17%	0.18%	0.18%	0.18%	0.18%	0.18%	0.18%	0.18%	0.18%
Promoters	25.59%	25.52% ↓0.1	0.00% ↓25.5	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Public	13.91%	14.19% ↑0.3	17.30% ↑3.1	16.98% ↓0.3	18.64% ↑1.7	17.44% ↓1.2	16.75% ↓0.7	16.23% ↓0.5	15.84% ↓0.4	15.19% ↓0.7	15.33% ↑0.1	15.11% ↓0.2
No. of Shareholders	22,90,092	23,45,672	30,58,659	30,18,247	41,21,815	36,64,325	39,21,910	39,24,442	38,29,146	37,25,911	37,01,272	36,50,087

37.0%

47.7%

15.1%

DIIs: 37.00% FIIs: 47.67% Government: 0.18% Public: 15.11%

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Dec 2025
DIIs	12.94%	14.97% ↑2.0	16.41% ↑1.4	21.74% ↑5.3	20.99% ↓0.8	24.55% ↑3.6	28.09% ↑3.5	33.33% ↑5.2	35.68% ↑2.4	37.00% ↑1.3
FIIs	42.13%	40.43% ↓1.7	38.71% ↓1.7	36.68% ↓2.0	39.79% ↑3.1	35.62% ↓4.2	32.24% ↓3.4	47.83% ↑15.6	48.30% ↑0.5	47.67% ↓0.6
Government	0.13%	0.13%	0.20% ↑0.1	0.23% ↑0.0	0.24%	0.16% ↓0.1	0.16%	0.18% ↑0.0	0.18%	0.18%
Promoters	26.00%	25.60% ↓0.4	26.50% ↑0.9	26.14% ↓0.4	25.97% ↓0.2	25.78% ↓0.2	25.59% ↓0.2	0.00% ↓25.6	0.00%	0.00%
Public	18.80%	18.87% ↑0.1	18.19% ↓0.7	15.21% ↓3.0	13.01% ↓2.2	13.89% ↑0.9	13.91% ↑0.0	18.64% ↑4.7	15.84% ↓2.8	15.11% ↓0.7
No. of Shareholders	4,63,568	5,10,377	5,89,930	12,86,083	13,75,294	21,51,630	22,90,092	41,21,815	38,29,146	36,50,087