Finance companies in India

653 listed companies in Financial Services, largest first by market cap at the close on 27 Oct 2026; the largest is HDFC Bank.

Companies
653
Market cap
₹1,07,61,170 Cr
Median P/E
18.1
Median P/B
1.2
Revenue growth
+8.7%quarter to Jun 2026
Profit
₹2,07,999 Crquarter to Jun 2026
Filed the quarter
683of 704
Median ROCE
1.3%year to Mar 2026

Revenue growth and profit by quarter

Revenue against the same quarter a year earlier, over the companies that filed both; profit after tax added up over the companies that filed the quarter. A quarter fewer than 60% of the sector filed is left out, and the newest is added once nearly as many companies have filed it as the one before.

Revenue against the same quarter a year earlier, per cent

30Mar 2421Jun 2417Sep 241.7Dec 243.6Mar 2510Jun 252.2Sep 2516Dec 253.9Mar 268.7Jun 26
Revenue grew against a year earlier in 10 of the 10 quarters shown.

Profit after tax, ₹ crore, added up over the companies that filed

1,66,567Mar 241,59,500Jun 241,60,399Sep 241,61,235Dec 241,73,124Mar 251,69,000Jun 251,74,170Sep 251,83,858Dec 251,96,292Mar 262,07,999Jun 26
Largest profit ₹2,07,999 Cr, quarter to Jun 2026.

The largest companies

The 12 largest Financial Services companies, each sized by its market cap.

Market cap, ₹ crore

  • HDFC Bank₹10,48,773 Cr
  • ICICI Bank₹9,95,620 Cr
  • State Bank of India₹8,72,400 Cr
  • Bajaj Finance₹5,67,807 Cr
  • Life Insurance Corporation of India₹4,90,440 Cr
  • National Stock Exchange of India₹4,42,270 Cr
  • Kotak Mahindra Bank₹4,40,194 Cr
  • Axis Bank₹3,75,418 Cr
  • Bajaj Finserv₹2,68,666 Cr
  • Shriram Finance₹1,93,797 Cr
  • SBI Life Insurance Company₹1,63,856 Cr
  • Union Bank of India₹1,40,916 Cr

Every Financial Services company

  • 1HDFC Bank logoHDFC BankHDFCBANK · Banks₹680.20−1.14%₹10,48,773 Cr13.10Lender: Not worked out for a bank, an NBFC or an insurer: it borrows to lend, so capital employed is not its measure.1.91%−32.2%
  • 2ICICI Bank logoICICI BankICICIBANK · Banks₹1,386.90−1.15%₹9,95,620 Cr16.90Lender: Not worked out for a bank, an NBFC or an insurer: it borrows to lend, so capital employed is not its measure.0.87%+0.7%
  • 3State Bank of India logoState Bank of IndiaSBIN · Banks₹945.10−1.63%₹8,72,400 Cr10.10Lender: Not worked out for a bank, an NBFC or an insurer: it borrows to lend, so capital employed is not its measure.1.84%+2.4%
  • 4Bajaj Finance logoBajaj FinanceBAJFINANCE · Finance₹912.00−0.73%₹5,67,807 Cr26.20Lender: Not worked out for a bank, an NBFC or an insurer: it borrows to lend, so capital employed is not its measure.0.66%−15.9%
  • 5Life Insurance Corporation of India logoLife Insurance Corporation of IndiaLICI · Insurance₹387.70+1.77%₹4,90,440 Cr8.20Lender: Not worked out for a bank, an NBFC or an insurer: it borrows to lend, so capital employed is not its measure.2.58%−13.6%
  • 6National Stock Exchange of IndiaNSE · Capital Markets₹1,786.95+2.84%₹4,42,270 Cr––None–
  • 7Kotak Mahindra Bank logoKotak Mahindra BankKOTAKBANK · Banks₹442.50+0.40%₹4,40,194 Cr20.50Lender: Not worked out for a bank, an NBFC or an insurer: it borrows to lend, so capital employed is not its measure.0.15%+3.0%
  • 8Axis Bank logoAxis BankAXISBANK · Banks₹1,205.70−1.17%₹3,75,418 Cr12.50Lender: Not worked out for a bank, an NBFC or an insurer: it borrows to lend, so capital employed is not its measure.0.08%−3.9%
  • 9Bajaj Finserv logoBajaj FinservBAJAJFINSV · Finance₹1,677.00+0.37%₹2,68,666 Cr26.50Lender: Not worked out for a bank, an NBFC or an insurer: it borrows to lend, so capital employed is not its measure.0.09%−22.7%
  • 10Shriram Finance logoShriram FinanceSHRIRAMFIN · Finance₹823.60−0.17%₹1,93,797 Cr15.30Lender: Not worked out for a bank, an NBFC or an insurer: it borrows to lend, so capital employed is not its measure.1.31%+14.5%
  • 11SBI Life Insurance Company logoSBI Life Insurance CompanySBILIFE · Insurance₹1,633.00−0.65%₹1,63,856 Cr61.70Lender: Not worked out for a bank, an NBFC or an insurer: it borrows to lend, so capital employed is not its measure.0.17%−14.2%
  • 12Union Bank of India logoUnion Bank of IndiaUNIONBANK · Banks₹184.60+1.88%₹1,40,916 Cr6.40Lender: Not worked out for a bank, an NBFC or an insurer: it borrows to lend, so capital employed is not its measure.2.71%+27.3%
  • 13BSE logoBSEBSE · Capital Markets₹3,441.10+2.44%₹1,40,357 Cr49.6048.9%0.29%+37.1%
  • 14Punjab National Bank logoPunjab National BankPNB · Banks₹121.27+0.31%₹1,39,375 Cr6.10Lender: Not worked out for a bank, an NBFC or an insurer: it borrows to lend, so capital employed is not its measure.2.47%+1.4%
  • 15ICICI Prudential Asset Management Company logoICICI Prudential Asset Management CompanyICICIAMC · Capital Markets₹2,799.70+1.65%₹1,38,378 Cr39.2085.0%2.04%–
  • 16Jio Financial Services logoJio Financial ServicesJIOFIN · Finance₹207.24+0.98%₹1,36,844 Cr79.902.1%0.29%−32.2%
  • 17Tata Capital logoTata CapitalTATACAP · Finance₹300.45+0.30%₹1,27,537 Cr21.40Lender: Not worked out for a bank, an NBFC or an insurer: it borrows to lend, so capital employed is not its measure.0.19%−8.7%
  • 18Cholamandalam Investment and Finance Company logoCholamandalam Investment and Finance CompanyCHOLAFIN · Finance₹1,469.00+1.46%₹1,25,968 Cr21.90Lender: Not worked out for a bank, an NBFC or an insurer: it borrows to lend, so capital employed is not its measure.0.14%−15.2%
  • 19Bajaj Holdings & Investment logoBajaj Holdings & InvestmentBAJAJHLDNG · Finance₹10,901.00−1.35%₹1,21,321 Cr13.701.1%1.79%−15.8%
  • 20Bank of Baroda logoBank of BarodaBANKBARODA · Banks₹233.93+0.83%₹1,20,974 Cr–Lender: Not worked out for a bank, an NBFC or an insurer: it borrows to lend, so capital employed is not its measure.3.63%−14.5%
  • 21Billionbrains Garage Ventures logoBillionbrains Garage VenturesGROWW · Capital Markets₹186.57+1.13%₹1,17,046 Cr43.4030.2%None–
  • 22Indian Bank logoIndian BankINDIANB · Banks₹840.00+1.20%₹1,13,145 Cr8.60Lender: Not worked out for a bank, an NBFC or an insurer: it borrows to lend, so capital employed is not its measure.2.17%+1.7%
  • 23HDFC Life Insurance Company logoHDFC Life Insurance CompanyHDFCLIFE · Insurance₹513.60−1.04%₹1,11,584 Cr54.50Lender: Not worked out for a bank, an NBFC or an insurer: it borrows to lend, so capital employed is not its measure.0.41%−30.3%
  • 24Canara Bank logoCanara BankCANBK · Banks₹118.01+1.11%₹1,07,043 Cr5.20Lender: Not worked out for a bank, an NBFC or an insurer: it borrows to lend, so capital employed is not its measure.3.56%−8.6%
  • 25Power Finance Corporation logoPower Finance CorporationPFC · Finance₹315.60−0.85%₹1,04,151 Cr4.00Lender: Not worked out for a bank, an NBFC or an insurer: it borrows to lend, so capital employed is not its measure.5.94%−20.5%
  • 26One 97 Communications logoOne 97 CommunicationsPAYTM · Financial Technology (Fintech)₹1,601.60−3.21%₹1,02,760 Cr120.201.3%None+22.6%
  • 27Indian Railway Finance Corporation logoIndian Railway Finance CorporationIRFC · Finance₹74.56+0.22%₹97,439 Cr13.20Lender: Not worked out for a bank, an NBFC or an insurer: it borrows to lend, so capital employed is not its measure.2.95%−39.6%
  • 28HDFC Asset Management Company logoHDFC Asset Management CompanyHDFCAMC · Capital Markets₹2,267.70+0.41%₹97,301 Cr32.7039.7%2.38%−18.4%
  • 29Aditya Birla Capital logoAditya Birla CapitalABCAPITAL · Finance₹353.55+0.14%₹96,795 Cr23.60Lender: Not worked out for a bank, an NBFC or an insurer: it borrows to lend, so capital employed is not its measure.None+13.8%
  • 30Muthoot Finance logoMuthoot FinanceMUTHOOTFIN · Finance₹2,407.50+0.49%₹96,654 Cr8.50Lender: Not worked out for a bank, an NBFC or an insurer: it borrows to lend, so capital employed is not its measure.1.25%−23.5%
  • 31SBI Funds ManagementSBIFUNDS · Capital Markets₹458.40+1.40%₹93,368 Cr––None–
  • 32The Federal Bank logoThe Federal BankFEDERALBNK · Banks₹341.60−0.81%₹84,467 Cr16.30Lender: Not worked out for a bank, an NBFC or an insurer: it borrows to lend, so capital employed is not its measure.0.35%+46.0%
  • 33IDBI Bank logoIDBI BankIDBI · Banks₹78.22+2.26%₹84,105 Cr10.10Lender: Not worked out for a bank, an NBFC or an insurer: it borrows to lend, so capital employed is not its measure.None−18.3%
  • 34Multi Commodity Exchange of India logoMulti Commodity Exchange of IndiaMCX · Capital Markets₹3,186.80+2.41%₹81,261 Cr52.7063.7%0.25%+71.2%
  • 35ICICI Lombard General Insurance Company logoICICI Lombard General Insurance CompanyICICIGI · Insurance₹1,576.20−0.24%₹78,749 Cr30.80Lender: Not worked out for a bank, an NBFC or an insurer: it borrows to lend, so capital employed is not its measure.0.89%−20.7%
  • 36REC logoRECRECLTD · Finance₹286.50−3.92%₹75,442 Cr5.00Lender: Not worked out for a bank, an NBFC or an insurer: it borrows to lend, so capital employed is not its measure.4.75%−23.3%
  • 37IndusInd Bank logoIndusInd BankINDUSINDBK · Banks₹833.30−1.33%₹64,926 Cr21.60Lender: Not worked out for a bank, an NBFC or an insurer: it borrows to lend, so capital employed is not its measure.0.18%+8.2%
  • 38Bajaj Housing Finance logoBajaj Housing FinanceBAJAJHFL · Finance₹77.64−1.20%₹64,692 Cr23.10Lender: Not worked out for a bank, an NBFC or an insurer: it borrows to lend, so capital employed is not its measure.None−29.3%
  • 39AU Small Finance Bank logoAU Small Finance BankAUBANK · Banks₹848.00−2.42%₹63,716 Cr20.20Lender: Not worked out for a bank, an NBFC or an insurer: it borrows to lend, so capital employed is not its measure.0.12%−1.9%
  • 40IDFC First Bank logoIDFC First BankIDFCFIRSTB · Banks₹71.36−0.53%₹61,532 Cr20.50Lender: Not worked out for a bank, an NBFC or an insurer: it borrows to lend, so capital employed is not its measure.0.35%−8.5%
  • 41Bank of Maharashtra logoBank of MaharashtraMAHABANK · Banks₹80.00+5.10%₹61,532 Cr7.70Lender: Not worked out for a bank, an NBFC or an insurer: it borrows to lend, so capital employed is not its measure.2.75%+35.8%
  • 42Nippon Life India Asset Management logoNippon Life India Asset ManagementNAM-INDIA · Capital Markets₹943.00+2.60%₹60,356 Cr37.3041.4%2.28%+3.0%
  • 43L&T Finance logoL&T FinanceLTF · Finance₹240.80−0.12%₹60,353 Cr17.60Lender: Not worked out for a bank, an NBFC or an insurer: it borrows to lend, so capital employed is not its measure.1.14%−9.9%
  • 44Bank of India logoBank of IndiaBANKINDIA · Banks₹132.02+4.51%₹60,104 Cr4.80Lender: Not worked out for a bank, an NBFC or an insurer: it borrows to lend, so capital employed is not its measure.3.52%−5.5%
  • 45ICICI Life Insurance logoICICI Life InsuranceICICILIFE · Insurance₹409.55−0.92%₹59,435 Cr33.80Lender: Not worked out for a bank, an NBFC or an insurer: it borrows to lend, so capital employed is not its measure.0.40%−31.8%
  • 46Motilal Oswal Financial Services logoMotilal Oswal Financial ServicesMOTILALOFS · Capital Markets₹969.00+3.82%₹58,428 Cr29.5011.7%0.62%−8.5%
  • 47General Insurance Corporation of India logoGeneral Insurance Corporation of IndiaGICRE · Insurance₹322.50−0.40%₹56,579 Cr6.40Lender: Not worked out for a bank, an NBFC or an insurer: it borrows to lend, so capital employed is not its measure.4.11%−16.4%
  • 48Indian Overseas Bank logoIndian Overseas BankIOB · Banks₹29.18−3.95%₹56,191 Cr8.40Lender: Not worked out for a bank, an NBFC or an insurer: it borrows to lend, so capital employed is not its measure.None−27.7%
  • 49RBL Bank logoRBL BankRBLBANK · Banks₹348.55+0.01%₹54,082 Cr44.90Lender: Not worked out for a bank, an NBFC or an insurer: it borrows to lend, so capital employed is not its measure.0.29%+8.2%
  • 50SBI Cards and Payment Services logoSBI Cards and Payment ServicesSBICARD · Finance₹528.05−1.90%₹50,252 Cr19.30Lender: Not worked out for a bank, an NBFC or an insurer: it borrows to lend, so capital employed is not its measure.0.47%−41.4%

About finance companies in India

Finance companies in India are the listed companies in the Financial Services sector of NSE's industry classification: banks, lenders that are not banks, insurers, stock exchanges, brokers, asset managers and fintech firms. The page lists them largest by market cap first, with valuation, return and dividend figures.

Industries in the sector

The page groups the sector into five industries: Banks, Finance, Capital Markets, Insurance and Financial Technology (Fintech). A company with several businesses is placed by the one that brings in more than half of its revenue.

Finance holds non-banking finance companies (NBFCs), which lend but do not take current or savings account deposits, along with housing and infrastructure finance companies. Capital Markets covers exchanges, depositories, brokers, asset management companies and registrars.

How each business earns

A bank takes deposits and lends at a higher rate; the gap between the interest it earns and the interest it pays is net interest income. An NBFC funds loans mostly with bonds and bank loans, so its borrowing cost weighs more. An insurer collects premiums, pays claims and invests the premiums in between. Capital markets firms earn fees that move with trading volumes and fund assets.

Loans that stop being repaid are called non-performing assets; lenders set aside provisions against them, which reduces profit.

Regulators and ownership rules

The Reserve Bank of India (RBI) regulates banks and NBFCs. Its scale-based framework sorts NBFCs into base, middle, upper and top layers. Every deposit-taking NBFC, and every other NBFC with assets of ₹1,000 crore or more, sits in the middle layer or above; since an RBI change in Jun 2026, the upper layer is every NBFC with assets of ₹1,00,000 crore or more. SEBI regulates exchanges, brokers and asset managers; IRDAI regulates insurers.

The Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Act, 2025, in force since 5 Feb 2026, lets foreign investors own up to 100% of an Indian insurance company, up from 74%.

Why ROCE is blank for lenders

The page shows P/E (market cap divided by the last four quarters' profit) for banks, NBFCs and insurers, but shows Lender in place of ROCE. ROCE is operating profit after depreciation as a percentage of net worth plus borrowings. A lender's borrowings, mostly deposits for a bank, are the stock it lends out, not capital tied up in running the business. Price to book, market cap divided by the net worth belonging to the company's own shareholders, is the usual yardstick for lenders; the summary shows its median.

Reading the list

Revenue growth compares the latest quarter with the same quarter a year earlier for companies that filed both; for a lender, revenue is mostly interest earned. Profit is added up across the companies that filed, a loss counting as negative. The table filters by industry and sorts by any of its columns.

Financial Services indices

Industry lists in Financial Services