VALARTH See HDB Financial Services in the appOpen in app
HDBFS · NSE · Non Banking Financial Company (NBFC)

HDB Financial Services Ltd

What the numbers mean, from its filings and the exchange. Data as of 12 Oct 2026.
Mid Cap · AMFI list Jan-Jun 2026 · Vendor sector: Finance
cheap low confidence No valuation within 120 days; P/E 17.7 vs peers 20.6 (5th of 14); P/B 2.2 vs peers 2.5 (5th of 14).
Statements through FY2026Prices adjusted for corporate actionsNot yet reviewed by the adversarial model

What is HDB Financial Services's share price today?

HDB Financial Services last traded at ₹581.75 on the NSE, as of 12 Oct 2026, 11:00 pm IST, down 1.2% on the day, down 20.4% over a year. Its 52-week range is ₹555 to ₹797. The live price is in the app.

₹581.75 −1.2% today
−20.4% over 1 year · NSE, as of 12 Oct 2026, 11:00 pm IST
15 month-end closes, 31 Jul 2025 to 30 Sep 2026, adjusted for splits and bonuses
52-week range11% of the way up
Low ₹555High ₹797

What is HDB Financial Services's market cap?

HDB Financial Services's market capitalisation is about ₹48,905 crore: what it would cost to buy every share at today's price. That makes it the 97th largest mid cap company we cover.

₹48,905 Cr Mid Cap97th largest mid cap company
Mid Cap means the companies ranked 101 to 250 by size, under SEBI's rules. Shares in issue are worked out from the market cap and the price. What market cap tells you →

Key facts

From the exchange
Symbol
NSE: HDBFS
ISIN
INE756I01012
Cap bucket
Mid Cap, 97th largest by market cap
Industry (NSE)
Financial Services › Finance › Non Banking Financial Company (NBFC)
Listed since
2025
Futures and options
Not traded

Is HDB Financial Services overvalued?

Cheap, with low confidence: no valuation within 120 days; P/E 17.7 vs peers 20.6 (5th of 14); P/B 2.2 vs peers 2.5 (5th of 14).

Valuation

Latest price and trailing 12 months
P/E 17.69
vs peers 20.6 · 5th of 14
Price divided by last year's earnings per share: how many years of today's profit you pay for. Learn more →
P/B 2.25
vs peers 2.5 · 5th of 14
Price divided by book value per share: what you pay for each rupee of net assets on the balance sheet. Learn more →
Market cap ₹48,905 Cr
Total market value of all shares, in ₹ crore. Learn more →
Dividend yield Not available
Last year's dividends as a share of today's price. Learn more →
PEG (vendor) 2.91
vs peers 2.6 · 8th of 13
P/E divided by the vendor's earnings growth figure, which it does not disclose; a P/E adjusted for how fast profits grow. Learn more →
PEG on our 3-year EPS growth 2.19
P/E divided by the 3-year EPS growth rate from the stored accounts. Learn more →
2 models could be judged
Skipped — Fair value, EPV, Graham number, Graham value, Lynch, Owner earnings: no valuation stored; P/E vs own history: 0 of 36 months of P/E history

Our valuation range

🔒 Pro
Value range, implied growth at today's price, and the nine models behind it: in the app.

Is HDB Financial Services a quality business?

Quality score 37.2, 11th of 14 in its peer set; WATCH on 14 of 22 lender flags judged.

Quality and risk

Data as of 12 Oct 2026
Business quality Not available
The kind of business, which sets the yardstick it is judged by. Learn more →
Quality score 37.2
vs peers 43.8 · 11th of 14
Returns, margins, leverage and consistency against its peers, out of 100. Learn more →
Risk level WATCH
14 of 22 lender flags judged
From flags on debt, earnings quality, dilution and price swings. Learn more →

Lender scorecard

Statements through FY2026 (Mar-26)
Basis: standalone accounts, FY2026 (Mar-26) against FY2025; NSE/BSE XBRL, the Q4 results filing; NIM is interest earned less expended over year-end advances and investments; cost to income is operating expenses over net interest income plus other income; credit cost is FY2026 provisions over year-end advances (the loan book from the Q4 filing); ROA over average total assets; ROE over average equity
Net interest margin 7.6%
vs peers 8.4% · 8th of 14
What a lender earns on its loans and investments less what it pays for deposits and borrowings, as a share of the assets that earn interest (or of all assets where the split is not filed). Learn more →
Gross NPA Not available
Loans on which repayment has stopped, as a share of all loans, before any provision against them; from the latest results filing. Learn more →
Net NPA Not available
Bad loans after the provisions already set aside against them, as a share of loans. Learn more →
Provision coverage Not available
How much of the gross bad loans has already been provided for. Learn more →
Credit cost 2.5%
vs peers 1.8% · 9th of 13
The year's provisions for bad loans as a share of the average loan book. Learn more →
Cost to income 60.3%
vs peers 53.1% · 10th of 14
Operating expenses (staff, branches, technology) over net interest income plus other income. Learn more →
Return on assets 2.2%
vs peers 2.3% · 9th of 14
Profit as a share of average total assets. Learn more →
CET1 ratio Not available
Common equity tier 1 capital, the hardest kind, against risk-weighted assets; from the latest results filing. Learn more →
Loan growth YoY Not available
Growth in the loan book over the latest fiscal year. Learn more →
Deposit growth YoY Not available
Growth in deposits over the latest fiscal year. Learn more →
CASA ratio Not available
Current and savings account balances as a share of all deposits. Learn more →
Inside the app

Get a sneak peek of Valarth

Start freeStart free
A Valarth stock page: the share price with its chart and 52-week range, valuation and profitability figures, and a scorecard of health checks.
Stock pagePrice, valuation, profitability and a scorecard of health checks for every company, each figure explained.
The Valarth stock screener: a table of companies with price, market cap, P/E, P/B, PEG, EPS and ROE, and filters down the left.
ScreenerEvery listed company, filtered on 212 figures, each with a plain-language lesson beside it.
The Valarth AI Screener answering 'Which companies will benefit from India's Project 75 submarine programme?' with a basket of four naval shipbuilders and a written thesis.
AI ScreenerAsk a question in plain English, like which companies benefit from India's Project 75. It reads the intent, builds the screen and writes the thesis.
A Valarth business-model card for State Bank of India, with a plain-language summary and statements verified against the filing.
Business modelHow a company makes money and what can hurt it, each statement checked against its annual report.
Valarth's Before the Bell edition, with the day's headline, regulator notes and sector moves.
Before the BellA morning edition before the market opens: what moved, which rule changed, and what it means for your holdings.

Has HDB Financial Services made money for shareholders?

Not over these periods: −20.4% over one year.

Shareholder returns

1-year return −20.4%
Price only
What the share price did over the last 12 months. Learn more →
5-year return Not available
Yearly average price return over five years, bonuses and splits adjusted. Learn more →
Wealth destroyer Not available
Five-year total return — price CAGR on bonus- and split-adjusted closes plus the dividend yield — below the 7% a bank fixed deposit paid. Learn more →

Returns

3Y and 5Y are yearly averages
1W
−5.5%
1M
−11.4%
3M
−22.2%
6M
−4.2%
1Y
−20.4%
3Y
—
5Y
—
— not available

Does HDB Financial Services pay a dividend?

HDB Financial Services last paid ₹2.00 a share, ex-dividend 18 Jun 2026; nothing in the past 12 months counts toward a yield.

Dividends

Per share, by ex-dividend date
18 Jun 2026 · Final₹2.00
24 Oct 2025 · Interim₹2.00
Payout ratio🔒 In the app
The share of profit paid out as dividends; a very high share leaves little to reinvest.
Dividend growth, 5 years🔒 In the app
How fast the dividend per share has grown a year.
Years without a miss🔒 In the app
How many years in a row a dividend has been paid.

Is HDB Financial Services growing?

Revenue 3 years 14.1% a year; eps 3 years 8.1% a year; revenue 5 years 10.8% a year.

Growth

Statements through FY2026 (Mar-26)
Loan growth Not available
Growth in the loan book over the latest fiscal year. Learn more →
Deposit growth Not available
Growth in deposits over the latest fiscal year. Learn more →
Revenue 3 years 14.1% a year
vs peers 26.3% · 11th of 14
Compound annual growth of revenue over three years. Learn more →
EPS 3 years 8.1% a year
Growth in earnings per share, so dilution counts against the company. Learn more →
Revenue 5 years 10.8% a year
Compound annual growth of revenue over five years. Learn more →
EPS 5 years 44.5% a year
Growth in earnings per share over five years, so dilution counts against the company. Learn more →

How did HDB Financial Services do last quarter?

HDB Financial Services reported income of ₹4,266 Cr, up 15.0% on a year earlier and a net profit of ₹531 Cr, down 11.6% in the Jun 2026 quarter.

Latest quarter

Jun 2026
Income, latest quarter₹4,266 Cr
+15.0% on a year earlier
What the company took in over the quarter.
Net profit, latest quarter₹531 Cr
−11.6% on a year earlier
What was left for shareholders after every cost and tax.

How does HDB Financial Services compare with its peers?

Compared with 13 Non Banking Financial Company (NBFC); 5th of 14 on P/E; 11th of 14 on quality score.

Compared with 13 Non Banking Financial Company (NBFC)

13 companies

HDB Financial Services against its peers

Largest 10 of 13 peers, by market cap
CompanyMarket capP/EP/BROE1YQuality 🔒Rank 🔒
HDB Financial Services Ltd₹48,905 Cr17.72.213.9%−20.4%
Cholamandalam Investment & Finance Company Ltd₹1.4 L Cr23.43.819.3%−3.6%
Tata Capital Ltd₹1.4 L Cr24.73.49.6%−3.6%
Muthoot Finance Ltd₹1.1 L Cr9.33.430.6%−18.3%
SBI Cards & Payment Services Ltd₹53,482 Cr23.53.814.7%−39.0%
Authum Investment & Infrastructure Ltd₹46,682 Cr22.22.513.2%−13.6%
Piramal Finance Ltd₹46,645 Cr26.41.55.5%+49.0%
Sundaram Finance Ltd₹45,704 Cr20.43.815.4%−7.1%
Mahindra & Mahindra Financial Services Ltd₹44,410 Cr13.71.612.5%+12.4%
Poonawalla Fincorp Ltd₹39,389 Cr34.92.95.9%−15.3%
Manappuram Finance Ltd₹29,570 Cr19.21.511.0%+9.9%
Peer median—20.62.514.7%−3.6%
Market cap in rupees crore; P/E and P/B on the latest price; 1Y is the price return over a year. A dash is a figure that does not apply or is not reported.

Full peer comparison

🔒 Pro
Every peer, every figure, the ranks and the quality and forensic scores side by side: in the app.

Who owns HDB Financial Services?

HDB Financial Services is held by promoters 74.1%, foreign institutions 3.5%, domestic institutions 12.1%.

Shareholding pattern

Latest filing, percent of shares
Promoters74.1%
The founders and controlling group.
Foreign institutions3.5%
Overseas funds investing through the FPI route.
Domestic institutions12.1%
Indian insurers, banks, pension and mutual funds together.
Mutual funds10.6%
Indian mutual fund schemes; part of domestic institutions.
Retail and others6.6%
Individual investors and everyone else.
Promoter shares pledged🔒 In the app
Promoter shares given as collateral for loans; a high share is a risk to watch.
Holding trend🔒 In the app
Whether promoters, foreign funds and mutual funds have been adding or selling over recent quarters.

What do analysts say about HDB Financial Services?

16 analysts cover HDB Financial Services, and the consensus is buy. A consensus is a count of opinions, not a forecast; read it beside the numbers.

Analyst consensus

16 analysts
ConsensusBuy
The rating most covering analysts give the share.
Average target price🔒 In the app
The mean of the analysts' 12-month price targets.
Upside to target🔒 In the app
How far the target sits above or below today's price.
Share rating it a buy🔒 In the app
The share of covering analysts with a buy rating.

What does HDB Financial Services do and what is it sensitive to?

Per its own filings, HDB Financial Services runs three lending lines (enterprise lending, asset finance and consumer finance) and describes its loan book as 100% retail, with average exposure per customer of about 1.66 lakhs. Sensitive to: interest rate and foreign exchange turbulence.

Business-model card

FY2026 · 35 verified
3Revenue
4Channels
2Regulators
3Reg. dependencies
4Sensitivities
3Costs
3Geographies

Per its own filings, HDB Financial Services runs three lending lines (enterprise lending, asset finance and consumer finance) and describes its loan book as 100% retail, with average exposure per customer of about 1.66 lakhs. Interpretation: it earns mainly through interest on this loan book; the excerpts discuss book growth, disbursements and credit cost but do not state the income mechanism explicitly.

Revenue by segment

Year ended March 31, 2026 (FY26, from the Q4 FY2026 presentation's Segment P&L Statement FY26, INR Crores; no consolidated/standalone distinction shown)
Lending - Interest income85.7%
Lending - Non Interest Income7.7%
BPO - Non Interest Income6.6%

Revenue engine

3 verified
Enterprise lending
Lending line whose Q4 disbursements grew about 28% sequentially and 15.4% year-on-year; includes the LAP + EBL mortgage book and the gold loan book. Interpretation: relative size versus other lines is not stated.
Consumer finance
Lending line whose book grew 5.3% Q-o-Q and 19.4% Y-o-Y, led by consumer durables followed by auto loans. Interpretation: relative size versus other lines is not stated.
Asset finance (commercial vehicles and construction equipment)
Lending line covering CV and CE books, described as showing moderate growth in Q4. Interpretation: relative size versus other lines is not stated.

Customers & channels

4 verified
Retailers in consumer finance
Consumer finance is sourced through a retailer network; the company states it works with more than 100,000 retailers.
Manufacturer and OEM partners
Asset finance lines are backed by OEM partnerships and dealership networks, which the company says support growth in CV and CE.
Digital do-it-yourself channel
Customers apply through a self-serve digital journey. The company states DIY disbursements rose about 2.2x in FY26. Interpretation: a larger digital share lowers the need for branch-led sourcing.
1 more statement
Existing customers with good repayment history
The company encourages these customers to take repeat loans through its app, where offers are shown and the journey can be completed digitally.

Regulators

2 verified
Reserve Bank of India (RBI)
Its guidelines and changes to RBI regulation are named as factors that could change results; the company also refers to RBI policy rates.
RBI policy rate setter
The regulator set policy rates and kept a neutral stance, which bears on the company's borrowing costs and lending rates. Interpretation: the link to the company's rates is inferred.

Regulatory dependencies

3 verified
RBI guidelines and regulatory changes
Changes in RBI guidelines are listed among factors that could make actual results differ materially. Interpretation: a tighter rule would affect lending volume, pricing or capital.
New labour codes raising employee cost
The company excludes the impact of new labour codes from its opex ratios and reports the impact separately. Including it, Dec-25 cost-to-income was 41.6%, up from the 40.7% shown in the excluded figures. Interpretation: a labour-code change raises opex and lowers operating margin.
Monetary policy and borrowing costs
The company ties its medium-term profit outlook to borrowing costs. Interpretation: lower borrowing costs would lift margins if lending rates hold.

Sensitivities

4 verified
Interest rate and foreign exchange turbulence
The company lists unanticipated moves in interest rates and FX among factors that could cause results to differ. Interpretation: rate rises raise funding cost; falls can compress lending yields.
West Asia conflict and El Niño weather
The company says the conflict and probable weather disruptions may affect growth and inflation, and that supply-chain restoration is a key monitorable. Interpretation: a prolonged shock would weigh on vehicle and equipment demand.
Asset quality (Gross NPA)
Gross NPA fell to 2.44% from 2.81% in the prior quarter. Interpretation: a rise in NPAs would raise credit cost and reduce profit.
1 more statement
Natural calamities
The company lists natural calamities among factors that could affect results. Interpretation: disasters in lending regions could disrupt collections and demand.

Cost inputs

3 verified
Operating expenses of the lending business
The company reports lending-business opex split into employee cost and other operating expenses, with a cost-to-income ratio. Interpretation: staff and branch or channel costs drive this line.
Technology investment including AI
The company says it has made significant investments in technology capabilities, including AI, across marketing, customer service and collections.
Branch premises footprint
The company says it has not reduced usage square footage and is moving some branches from 600–800 sq ft to about 4,000 sq ft. Interpretation: larger premises raise occupancy cost per branch.

Geographies

3 verified
Pan-India distribution
The company states it operates in 1,161 towns and cities with uniform service standards across the country.
Aspirational India (consumer credit)
The company describes its customised product suite as providing credit to aspirational India, reached through distribution touchpoints and digital channels across the country.
Rural demand
The company cites robust rural demand as supportive of the economy. Interpretation: rural income drives demand for vehicles, durables and loans.
Each statement is checked word for word against the FY2026 annual report; the passages are in the app.

What changed recently?

Q1 FY2027 results filed (15 Jul 2026).

Change log

7 entries · newest first
  1. Results filedQ1 FY2027 results filed.
  2. Corporate actionDividend - Rs 2 Per Share.
  3. Results filedQ4 FY2026 results filed.
  4. Results filedQ3 FY2026 results filed.
  5. Corporate actionInterim Dividend - Rs 2 Per Share.
  6. Results filedQ2 FY2026 results filed.
  7. Results filedQ1 FY2026 results filed.
Get alerts →Sign in to be told when any of these change.

What this page does not tell you

What could not be judged, and why. Never empty.
  • Models not runFair value, EPV, Graham number, Graham value, Lynch, Owner earnings: no valuation stored; P/E vs own history: 0 of 36 months of P/E history.
  • FlagsWATCH on 14 of 22 lender flags judged; 2 red; 8 could not be judged.
  • Data gapsDividend yield, Business quality, Gross NPA, Net NPA, Provision coverage, CET1 ratio and 7 more: not available yet.
Not applicable to a bank, lender or insurer · 12
  • Altman ZAltman Z reads working capital and sales over assets, which a lender's balance sheet does not have.
  • Piotroski F-scorePiotroski's leverage and liquidity checks read deposits and borrowings as weakness.
  • Beneish M-scoreThe Beneish model reads receivables, margins and depreciation that a lender's accounts do not report.
  • Operating marginInterest is a lender's cost of goods, so operating profit before interest is not defined.
  • Interest coverageInterest is a lender's main cost, not a charge on operating profit.
  • Debt to equityBorrowings and deposits are a lender's raw material; gearing is judged by capital adequacy instead.
  • EV/EBITDAEnterprise value adds borrowings to market cap; for a lender borrowings are the business, not a claim on it.
  • FCF yieldOperating cash flow less capex is not free cash flow for a lender: loan growth sits in operating cash flow.
  • Cash conversion cycleA lender's receivables are its loan book, not invoices waiting to be paid.
  • Asset turnoverA lender earns a spread on its assets, not a turnover of them.
  • ROCEEBIT over capital employed reads a lender's interest income against its borrowings; return on assets and return on equity are the lender's measures.
  • ROCE, 10-year averageEBIT over capital employed reads a lender's interest income against its borrowings; return on assets is the lender's measure (HDFC Bank's 1.7% ten-year ROCE means nothing).

What this page rests on

✓10 years of annual statements, through FY2026 (Mar-26)✓10 quarters of results✓15 months of month-end prices, adjusted for bonuses and splits○no valuation of ours yet✓business-model card FY2026 · 35 verified

Questions people ask

What is HDB Financial Services's share price today?

HDB Financial Services last traded at ₹581.75 on the NSE, as of 12 Oct 2026, 11:00 pm IST, down 1.2% on the day, down 20.4% over a year. Its 52-week range is ₹555 to ₹797. The live price is in the app.

What is HDB Financial Services's market cap?

HDB Financial Services's market capitalisation is about ₹48,905 crore: what it would cost to buy every share at today's price. That makes it the 97th largest mid cap company we cover.

Is HDB Financial Services Ltd a large cap, mid cap or small cap?

HDB Financial Services Ltd (HDBFS) is a mid cap company in AMFI's classification for Jan-Jun 2026. SEBI's buckets go by rank on six-month average market capitalisation: the top 100 are large caps, 101 to 250 mid caps, the rest small caps.

What is HDB Financial Services Ltd's P/E ratio?

17.69, vs peers 20.6 · 5th of 14. Price divided by last year's earnings per share: how many years of today's profit you pay for.

Is HDB Financial Services Ltd overvalued?

Cheap, with low confidence: no valuation within 120 days; P/E 17.7 vs peers 20.6 (5th of 14); P/B 2.2 vs peers 2.5 (5th of 14).

How does HDB Financial Services Ltd make money?

Per its own filings, HDB Financial Services runs three lending lines (enterprise lending, asset finance and consumer finance) and describes its loan book as 100% retail, with average exposure per customer of about 1.66 lakhs. Interpretation: it earns mainly through interest on this loan book; the excerpts discuss book growth, disbursements and credit cost but do not state the income mechanism explicitly.

Why is there no Altman Z or debt to equity for HDB Financial Services?

Borrowing is a bank's or lender's raw material, so those ratios mislead. Net interest margin, gross NPA, return on assets and the capital ratios are shown instead.

Who are HDB Financial Services Ltd's peers?

Compared with 13 Non Banking Financial Company (NBFC): Cholamandalam Investment & Finance Company Ltd, Tata Capital Ltd, Muthoot Finance Ltd, SBI Cards & Payment Services Ltd, Authum Investment & Infrastructure Ltd and 8 more. The app shows how they compare on every figure.

Is this investment advice?

No. Valarth is a research and learning tool and is not a SEBI-registered investment adviser or research analyst. The figures come from the company's filings and the exchanges; what to do with them is your call.

How did HDB Financial Services do last quarter?

HDB Financial Services reported income of ₹4,266 Cr, up 15.0% on a year earlier and a net profit of ₹531 Cr, down 11.6% in the Jun 2026 quarter.

Who owns HDB Financial Services?

HDB Financial Services is held by promoters 74.1%, foreign institutions 3.5%, domestic institutions 12.1%.

Does HDB Financial Services pay a dividend?

HDB Financial Services last paid ₹2.00 a share, ex-dividend 18 Jun 2026; nothing in the past 12 months counts toward a yield.

What do analysts say about HDB Financial Services?

16 analysts cover HDB Financial Services, and the consensus is buy. A consensus is a count of opinions, not a forecast; read it beside the numbers.

Everything on HDB Financial Services, and 6,621 other companies, with 212 filters and the full peer tables

See HDB Financial Services in the app →See pricing