HDB Financial Services financials: balance sheet, profit and loss, cash flow
NSE: HDBFSBSE: 544429FinanceMid Cap
HDB Financial Services Limited · Face value ₹10 Face value. The nominal value of one share as the company issued it, the unit its share capital is counted in and a dividend can be stated as a percentage of; it has no link to the share price. Face value in the glossary · Listed Jul 2025 · Issue price ₹740
Last close ₹499.60down ₹3.50 (0.70%)BSE ₹499.70
Share price at the NSE close on 29 Oct 2026. Previous close ₹503.10.
29 Oct: open ₹504.95, high ₹506.80, low ₹498.60
52-week range of traded prices to 29 Oct 2026
₹494.15Low, 23 Oct 2026₹796.70High, 19 Dec 2025
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies. Market capitalisation: how it is worked out
- ₹41,506 Cr182nd largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. Price to earnings, trailing: how it is worked out
- 14.02
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. Price to book: how it is worked out
- 1.87
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- 0.80%
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business. Net worth is the average of the latest balance sheet and the one a year before it.
- 14.3%
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day. Volume in the glossary
- 5,78,75251.6% delivered
HDB Financial Services' financial statements for the year to Mar 2026, as a lender reports them, standalone: the listed company alone, without its subsidiaries, with the half year to Sep 2026 after them.
HDB Financial Services business segments, year to Mar 2026
A reportable segment is a line of business the company must report on its own. Standalone, ₹ crore, as the company reports them.HDB Financial Services segment results by quarter
Revenue by segment
₹18,430 CrTotal
- Lending Business₹17,206 Cr93.4% of total
- BPO Services₹1,224 Cr6.6% of total
Profit by segment
- Lending Business₹3,364 Cr97.6% of total
- BPO Services₹81 Cr2.4% of total
Segment results by year
Standalone, ₹ crore, years to March.
Lending Business
Revenue, ₹ croreProfit, ₹ croreBPO Services
Revenue, ₹ croreProfit, ₹ crore
| ₹ crore | Mar 2026 |
|---|---|
| Revenue of all businesses | 18,430 |
| Company revenue, as in its resultsCompany revenue. The company's revenue from operations for the period in its results, on the same accounts as its segments. It is below the businesses' sum where they sell to one another, or where the segments include a business the results report as discontinued. | 18,430 |
| Revenue | 17,206 |
| ProfitSegment profit. What the business earned before tax and finance costs, as the company measures each of its businesses. Segment profit in the glossary | 3,364 |
| MarginSegment margin. Segment profit as a percentage of the segment's revenue. Segment margin in the glossary | 19.6% |
| AssetsSegment assets. What the company holds for this business at the period end: plant, stock, receivables and the like. Segment assets in the glossary | 1,22,521 |
| LiabilitiesSegment liabilities. What this business owes at the period end, such as payments due to suppliers. Segment liabilities in the glossary | 1,02,510 |
| Revenue | 1,224 |
Profit is before tax and finance costs, the way companies report their segments.
Income
Standalone, laid out as a lender that is not a bank files them. No figures on this form for the years to Mar 2017, Mar 2018, Mar 2019, Mar 2020, Mar 2021, Mar 2022, Mar 2023, Mar 2024 and Mar 2025. ₹ crore, years to March.HDB Financial Services annual reports
| ₹ crore | Mar 2026 |
|---|---|
| Total incomeTotal income. Everything earned in the period, the total the statement states: for a bank, its interest earned and other income, with any other income line its statement totals; for a finance company, revenue from operations + other income; for a general insurer, premium earned + income from the policyholders' investments + other income; for a life insurer, premiums + the income and gains on the policyholders' investments. Total income in the glossary | 18,430 |
| Interest earned | 15,788 |
| Interest paid | 6,820 |
| Net interest incomeNet interest income. Interest earned − interest paid; for a finance company, interest earned − finance costs. Net interest income in the glossary | 8,968 |
| Other income. Income besides interest, for the period: for a bank, its other income as stated, such as fees, commissions and gains on investments; for a finance company, total income − interest earned, or where total income is not stated, fees and commission + gains on fair value changes + other income. Other income in the glossary | 2,641 |
| Gains on fair value changesGains on fair value changes. Gains on investments and other holdings counted at their market value, for the period; given only where interest earned and the other revenue lines add to the revenue from operations stated. Gains on fair value changes in the glossary | 52 |
| Gains on loans soldGains on loans sold. Gains on loans the finance company sold or assigned to others and took off its books, for the period; given only where interest earned and the other revenue lines add to the revenue from operations stated. Gains on loans sold in the glossary | −1 |
| Sale of servicesSale of services. Revenue from services the finance company provided, outside its lending, for the period; given only where interest earned and the other revenue lines add to the revenue from operations stated. Sale of services in the glossary | 1,224 |
| Other operating revenueOther operating revenue. Revenue from operations besides interest, fees, gains, dividends, rent and sales, for the period; given only where interest earned and the other revenue lines add to the revenue from operations stated. Other operating revenue in the glossary | 1,366 |
| The lines under it are parts of it, not all of it. | 5,408 |
| Profit before provisionsProfit before provisions. Profit before anything is set aside for loans that may not be repaid: for a bank, total income − its expenses other than provisions, as stated, which are interest paid and operating expenses; for a finance company, total income − finance costs − operating expenses. Profit before provisions in the glossary | 6,201 |
| Set aside for bad loansProvisions for bad loans. What was set aside in the period for loans that may not be repaid: for a bank, its provisions other than for tax, which also cover its investments and loans still being repaid; for a finance company, the impairment of its loans and other financial assets. Provisions for bad loans in the glossary | 2,815 |
| Exceptional itemsExceptional items. One-off gains or losses the company states separately, for the period; on a bank's group accounts, not given where the line is the outside owners' share of its subsidiaries' profit. Exceptional items in the glossary | 0 |
| Profit before tax | 3,386 |
| 843 | |
| Net profit | 2,544 |
| Other comprehensive incomeOther comprehensive income. Gains and losses after tax that bypass profit, such as the change in value of some investments and of pension obligations. Other comprehensive income in the glossary | 3 |
| Total comprehensive incomeTotal comprehensive income. Profit + other comprehensive income, given where the two come to it. Total comprehensive income in the glossary | 2,547 |
| Earnings per shareEarnings per share. The earnings per share stated for the period ÷ the split factor, so a figure from before a split sits on the same share as today's; a figure the company filed after a split or bonus is already on the new share count and is divided by the splits after its filing day only. Earnings per share in the glossary | ₹30.97 |
| Diluted earnings per shareDiluted earnings per share. That diluted earnings per share on today's share count, restated by the same splits and bonuses as the basic figure. Diluted earnings per share in the glossary | ₹30.88 |
Balance sheet
₹ crore, at 31 March.
| ₹ crore | Mar 2026 |
|---|---|
| Total assetsTotal assets. Everything the company owns, at the period end; for an insurer, whose balance sheet shows its assets net of what it owes in the short term, that net figure + its current liabilities and provisions − any debit balance in its profit and loss account and expenditure not yet written off, and not given where only the net figure is stated. Total assets in the glossary | 1,23,652 |
| Loans given | 1,14,690 |
| Investments | 3,748 |
| DepositsDeposits. Money customers have placed with the company on deposit, at the period end. Deposits in the glossary | 0 |
| Borrowings. Money borrowed, at the period end, deposits left out: for a bank and an insurer, its borrowings as stated; for a finance company, bonds and debentures + loans taken + subordinated debt. Borrowings in the glossary | 99,230 |
| Bonds and debenturesBonds and debentures. Money the finance company borrowed by issuing bonds, debentures and commercial paper, at the period end. Bonds and debentures in the glossary | 32,359 |
| Subordinated debtSubordinated debt. The finance company's borrowings repaid only after its other lenders if it fails, at the period end. Subordinated debt in the glossary | 6,976 |
| LoansLoans. Money the finance company borrowed from banks and other lenders, besides bonds, subordinated debt and deposits, at the period end. Loans in the glossary | 59,895 |
| Net worth. Net worth at the period end, the whole group's on group accounts: for a bank, share capital + reserves and surplus; for a finance company, total equity as stated; for a general insurer, share capital + reserves; for a life insurer, shareholders' funds as stated, or share capital + reserves + the fair value change account where they are not. An insurer's is less any debit balance in its profit and loss account and expenditure not yet written off. Not given where the balance sheet states the share capital, the reserves or the net worth as 0. Net worth in the glossary | 20,664 |
Margins and returns
Per cent a year, on the average of the opening and closing balance sheets.
| Per cent | Mar 2026 |
|---|---|
| Cost to incomeCost to income. Operating expenses ÷ (net interest income + other income) × 100. Cost to income in the glossary | 46.59% |
Cash flow
Standalone, ₹ crore, years to March. The last column is the half year to Sep 2026, after the latest full year: the cash flow over its six months.
| ₹ crore | Mar 2026Filed 15 Apr | Sep 2026Half year |
|---|---|---|
| Cash from operationsCash from operations. Cash the business brought in from its operations in the period, after paying suppliers, staff and tax. Cash from operations in the glossary | −8,606 | −4,700 |
| Capital spendingCapital spending. Cash spent in the period on plant, equipment, buildings and other long-lived assets. Capital spending in the glossary | 144 | 50 |
| Free cash flowFree cash flow. Cash from operations less capital spending: what is left to repay borrowings, pay dividends or keep. Free cash flow in the glossary | −8,749 | −4,750 |
| Cash from investingCash from investing. Cash spent on, below nought, or received from plant, investments, businesses bought or sold, and interest and dividends received. Cash from investing in the glossary | −1,772 | −478 |
| Cash from financingCash from financing. Cash raised from, or paid to, lenders and shareholders: borrowings taken and repaid, interest, lease payments, dividends and shares issued or bought back. Cash from financing in the glossary | 10,673 | 5,564 |
| Dividends paidDividends paid. Cash paid to shareholders as dividends during the period. Dividends paid in the glossary | 245 | 166 |
| Shares bought backShares bought back. Cash spent buying the company's own shares back from shareholders. Shares bought back in the glossary | 0 | 0 |
| Shares issuedShares issued. Cash raised by selling new shares. Shares issued in the glossary | 2,494 | 25 |
| Net change in cashNet change in cash. Cash from operations, investing and financing added together: how much cash and cash equivalents rose or fell over the year, before currency effects. Net change in cash in the glossary | 296 | 386 |
Capital spending is part of cash from investing, and dividends paid, shares bought back and shares issued are part of cash from financing. Each is shown as an amount on a line of its own, and the section's other items are in its total only.
Where the cash came from and went
Standalone: the listed company alone, without its subsidiaries. ₹ crore, added up over each window, which ends with the year to Mar 2026.
| ₹ crore | Latest year |
|---|---|
| Cash from operationsCash from operations. Latest year: Cash from operating activities in the latest year. 3 years: Cash from operating activities added over the last three years, needing every one of them. 5 years: Cash from operating activities added over the last five years, needing every one of them. | −8,606 |
| Cash from investingCash from investing. Latest year: Cash from investing activities in the latest year. 3 years: Cash from investing activities added over the last three years, needing every one of them. 5 years: Cash from investing activities added over the last five years, needing every one of them. | −1,772 |
| Cash from financingCash from financing. Latest year: Cash from financing activities in the latest year. 3 years: Cash from financing activities added over the last three years, needing every one of them. 5 years: Cash from financing activities added over the last five years, needing every one of them. | 10,673 |
| Capital spendingCapital spending. Latest year: Spending on property, plant and equipment in the latest year. 3 years: Spending on property, plant and equipment added over the last three years, needing every one of them. 5 years: Spending on property, plant and equipment added over the last five years, needing every one of them. | 144 |
| Dividends paidDividends paid. Latest year: Dividends paid in the latest year. 3 years: Dividends paid added over the last three years, needing every one of them. 5 years: Dividends paid added over the last five years, needing every one of them. | 245 |
| Shares bought backShares bought back. Latest year: Shares bought back in the latest year. 3 years: Shares bought back added over the last three years, needing every one of them. 5 years: Shares bought back added over the last five years, needing every one of them. | 0 |
| Shares issued for cashShares issued for cash. Latest year: Shares issued for cash in the latest year. 3 years: Shares issued for cash added over the last three years, needing every one of them. 5 years: Shares issued for cash added over the last five years, needing every one of them. | 2,494 |
Credit ratings
An agency's view of the chance the company repays a borrowing on time, from AAA, the highest, down to D, in default.
| Date | Agency | Borrowing rated | Rating | Outlook | Amount, ₹ Cr |
|---|---|---|---|---|---|
| 28 Oct 2026 | CRISIL Ratings Limited | Bank FacilitiesShort-term scale | Crisil A1+Rating Reaffirmed | 2,000 | |
| 28 Oct 2026 | CRISIL Ratings Limited | Commercial PaperShort-term scale | Crisil A1+Rating Reaffirmed | 10,000 | |
| 28 Oct 2026 | CRISIL Ratings Limited | Subordinate DebtLong-term scale | Crisil AAARating ReaffirmedINE756I08116 Debt ISIN | Stable | 170 |
| 28 Oct 2026 | CRISIL Ratings Limited | Subordinated DebtLong-term scale | Crisil AAARating ReaffirmedINE756I08298 Debt ISIN | Stable | 207 |
| 28 Oct 2026 | CRISIL Ratings Limited | Perpetual BondsLong-term scale | Crisil AAARating ReaffirmedINE756I08157 Debt ISIN | Stable | 200 |
| 28 Oct 2026 | CRISIL Ratings Limited | Non-Convertible DebenturesLong-term scale | Crisil AAARating ReaffirmedINE756I07FT8 Debt ISIN | Stable | 310 |
| 28 Oct 2026 | CRISIL Ratings Limited | Subordinate debtLong-term scale | Crisil AAARating AssignedRs.220 Crore is Assigned | Stable | 1,993 |
| 28 Oct 2026 | CRISIL Ratings Limited | Bank FacilitiesLong-term scale | Crisil AAARating Reaffirmed | Stable | 42,527.67 |
| 28 Sep 2026 | CARE Ratings Limited | Commercial Paper | CARE A1+Review, Re-affirm | 150 | |
| 28 Sep 2026 | CARE Ratings Limited | Debt-Perpetual Debt | CARE AAAReview, Re-affirm | Stable | 150 |
| 28 Sep 2026 | CARE Ratings Limited | Fund based-LT-Term Working Capital Demand Loan | CARE AAAReview, Re-affirm | Stable | 4,310 |
| 28 Sep 2026 | CARE Ratings Limited | Fund based-LT-Term Loan | CARE AAAReview, Re-affirm | Stable | 58,465.37 |
| 28 Sep 2026 | CARE Ratings Limited | Debt-Subordinate Debt | CARE AAAReview, Re-affirm | Stable | 170 |
| 28 Sep 2026 | CARE Ratings Limited | Debentures-Non Convertible Debentures | CARE AAAReview, Re-affirm | Stable | 1,000 |
| 2 Sep 2026 | CARE Ratings Limited | Pass Through Certificates | Provisional CARE AAA (SO)New, New | 595 | |
| 14 Apr 2026 | CRISIL Ratings Limited | Debentures | Crisil AAAReview, Re-affirm | Stable | 300 |
| 3 Feb 2026 | ICRA Limited | HORIZON TRUST JANUARY 2026-Series A PTC | Provisional [ICRA]AAA(SO)New, New | 583.09 |
The latest rating on each borrowing. The agency's name opens its reasoning for the rating.