WEBSITE BSE:500180 NSE: HDFC BANK Inc. Year: 1994 Industry: Bank - Private
Last updated: 15:59
HDFC Bank Limited (the Bank) is an primarily India-based private zone financial institution. The Bank caters to a number of banking services overlaying commercial and investment banking on the wholesale aspect and transactional/ department banking at the retail aspect. The Bank\'s Treasury section generally consists of net interest profits from the Bank\'s funding portfolio, money marketplace borrowing and lending, profits or losses on funding operations and on account of buying and selling in forex and derivative contracts. The Retail Banking ...Read More
HDFC Bank Limited (the Bank) is an primarily India-based private zone financial institution. The Bank caters to a number of banking services overlaying commercial and investment banking on the wholesale aspect and transactional/ department banking at the retail aspect. The Bank\'s Treasury section generally consists of net interest profits from the Bank\'s funding portfolio, money marketplace borrowing and lending, profits or losses on funding operations and on account of buying and selling in forex and derivative contracts. The Retail Banking segment serves retail clients through the Bank\'s department community and different channels. The Wholesale Banking section presents loans, non-fund centers and transaction services to large corporates, emerging corporates, public quarter units, government bodies, monetary institutions and medium scale establishments. The Other Banking Operations segment consists of earnings from Para banking activities, which includes credit cards, debit cards and third party product distribution, among others. ...Read Less
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Market Cap ₹1434785 Cr.
Stock P/E 19.5
P/B 2.6
Current Price ₹932.4
Book Value ₹ 364.2
Face Value 1
52W High ₹1020.4
Dividend Yield 1.18%
52W Low ₹ 830.8
| Date | Research House | View |
|---|---|---|
| 15 May 2023 | Motilal Oswal | Call Buy |
Price goes above X
Price falls below X
PE goes above X
PE falls below X
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| #(Fig in Cr.) | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Interest Earned | 75039 | 78008 | 79434 | 81546 | 83002 | 85040 | 86779 | 87372 | 86994 | 87067 |
| Other Income | 32528 | 37007 | 44958 | 35450 | 38455 | 27154 | 33489 | 45683 | 31567 | 39860 |
| Total Income | 107567 | 115016 | 124391 | 116996 | 121457 | 112194 | 120269 | 133055 | 118561 | 126927 |
| Interest Expense | 41250 | 43242 | 43692 | 44580 | 45414 | 46914 | 46986 | 47709 | 46741 | 45821 |
| Operating Expenditure | 42038 | 45926 | 49128 | 46547 | 48805 | 37350 | 43904 | 49183 | 40879 | 50524 |
| Provisions and contingencies | 3312 | 4604 | 13811 | 3143 | 3269 | 3957 | 3805 | 15314 | 4282 | 3621 |
| Operating Profit | 20967 | 21243 | 17761 | 22727 | 23968 | 23973 | 25573 | 20850 | 26659 | 26961 |
| Profit Before Tax | 20967 | 21243 | 17761 | 22727 | 23968 | 23973 | 25573 | 20850 | 26659 | 26961 |
| Provision for Tax | 3655 | 3525 | -251 | 5539 | 5341 | 5633 | 6289 | 3759 | 6295 | 6270 |
| Profit After Tax | 17312 | 17718 | 18013 | 17188 | 18627 | 18340 | 19285 | 17090 | 20364 | 20691 |
| Adjustments | -501 | -460 | -390 | -713 | -802 | -684 | -450 | -833 | -753 | -884 |
| Profit After Adjustments | 16811 | 17258 | 17622 | 16475 | 17826 | 17657 | 18835 | 16258 | 19611 | 19807 |
| Adjusted Earnings Per Share | 11.1 | 11.4 | 11.6 | 10.8 | 11.7 | 11.5 | 12.3 | 10.6 | 12.8 | 12.9 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest Earned | 50666 | 63162 | 73271 | 85288 | 105161 | 122189 | 128552 | 135936 | 170754 | 283649 | 336367 | 348212 |
| Other Income | 9546 | 11212 | 12878 | 16057 | 18947 | 24879 | 27333 | 31759 | 33912 | 124346 | 134549 | 150599 |
| Total Income | 60212 | 74373 | 86149 | 101344 | 124108 | 147068 | 155885 | 167695 | 204666 | 407995 | 470916 | 498812 |
| Interest Expense | 27288 | 34070 | 38042 | 42381 | 53713 | 62137 | 59248 | 58584 | 77780 | 154139 | 183894 | 187257 |
| Operating Expenditure | 14578 | 17832 | 20751 | 23927 | 27695 | 33036 | 35001 | 40312 | 51534 | 152269 | 176605 | 184490 |
| Provisions and contingencies | 2266 | 2961 | 3991 | 6572 | 8382 | 13700 | 18840 | 17925 | 13854 | 25018 | 14175 | 27022 |
| Operating Profit | 16080 | 19511 | 23366 | 28464 | 34318 | 38195 | 42796 | 50873 | 61498 | 76569 | 96242 | 100043 |
| Profit Before Tax | 16080 | 19511 | 23366 | 28464 | 34318 | 38195 | 42796 | 50873 | 61498 | 76569 | 96242 | 100043 |
| Provision for Tax | 5380 | 6694 | 8078 | 9903 | 11873 | 10899 | 10939 | 12722 | 15350 | 11122 | 22802 | 22613 |
| Profit After Tax | 10700 | 12817 | 15287 | 18561 | 22446 | 27296 | 31857 | 38151 | 46149 | 65447 | 73440 | 77430 |
| Adjustments | -11 | -16 | -7 | -51 | -113 | -42 | -24 | -98 | -152 | -1384 | -2648 | -2920 |
| Profit After Adjustments | 10689 | 12801 | 15280 | 18510 | 22332 | 27254 | 31833 | 38053 | 45997 | 64062 | 70792 | 74511 |
| Adjusted Earnings Per Share | 10.7 | 12.7 | 14.9 | 17.8 | 20.5 | 24.9 | 28.9 | 34.3 | 41.2 | 42.2 | 46.3 | 48.6 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 19% | 35% | 22% | 21% |
| Operating Profit CAGR | 26% | 24% | 20% | 20% |
| PAT CAGR | 12% | 24% | 22% | 21% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | 9% | 4% | 3% | 14% |
| ROE Average | 15% | 17% | 17% | 17% |
| ROCE Average | 13% | 15% | 14% | 15% |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 63154 | 74304 | 91794 | 109599 | 153673 | 176359 | 209810 | 247326 | 289438 | 456395 | 521789 |
| Minority's Interest | 162 | 181 | 291 | 356 | 502 | 577 | 633 | 720 | 860 | 13383 | 16359 |
| Deposits | 450284 | 545873 | 643134 | 788375 | 922503 | 1146207 | 1333721 | 1558003 | 1882663 | 2376887 | 2710898 |
| Borrowings | 59478 | 103714 | 98416 | 156442 | 157733 | 186834 | 177697 | 226967 | 256549 | 730615 | 634606 |
| Other Liabilities & Provisions | 34019 | 38140 | 58709 | 48413 | 58396 | 70854 | 77646 | 89918 | 100923 | 452913 | 508765 |
| Total Liabilities | 607097 | 762212 | 892344 | 1103186 | 1292806 | 1580830 | 1799507 | 2122934 | 2530432 | 4030194 | 4392417 |
| Cash and balance with RBI | 27522 | 30077 | 37911 | 104688 | 46805 | 72211 | 97370 | 130031 | 117189 | 178719 | 144390 |
| Bank Balance | 9004 | 8992 | 11401 | 18373 | 35013 | 15729 | 23902 | 25355 | 79959 | 50116 | 105558 |
| Investments | 149454 | 193634 | 210777 | 238461 | 289446 | 389305 | 438823 | 449264 | 511582 | 1005682 | 1186473 |
| Advances | 383408 | 487290 | 585481 | 700034 | 869223 | 1043671 | 1185284 | 1420942 | 1661949 | 2571917 | 2724938 |
| Fixed Assets | 3225 | 3480 | 3815 | 3811 | 4220 | 4627 | 5248 | 6432 | 8431 | 12604 | 15258 |
| Other Assets | 34483 | 38739 | 42960 | 37819 | 48100 | 55288 | 48879 | 90910 | 151322 | 211158 | 215801 |
| Total Assets | 607097 | 762212 | 892344 | 1103186 | 1292806 | 1580830 | 1799507 | 2122934 | 2530432 | 4030194 | 4392417 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 39913 | 36526 | 39069 | 49311 | 123062 | 81818 | 87940 | 121273 | 155386 | 197148 | 228835 |
| Cash Flow from Operating Activities | -21281 | -34435 | 17282 | 17214 | -62872 | -16869 | 42476 | -11960 | 20814 | 19069 | 127242 |
| Cash Flow from Investing Activities | -811 | -866 | -1148 | -852 | -1598 | -1617 | -1681 | -2216 | -3424 | 5314 | -3851 |
| Cash Flow from Financing Activities | 18694 | 37815 | -5893 | 57378 | 23131 | 24394 | -7321 | 48124 | 23941 | -3983 | -102478 |
| Net Cash Inflow / Outflow | -3398 | 2514 | 10241 | 73740 | -41339 | 5908 | 33474 | 33948 | 41330 | 20400 | 20914 |
| Closing Cash & Cash Equivalent | 36526 | 39069 | 49311 | 123062 | 81818 | 87940 | 121273 | 155386 | 197148 | 228835 | 249948 |
| # | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | 10.66 | 12.66 | 14.91 | 17.83 | 20.5 | 24.85 | 28.87 | 34.31 | 41.22 | 42.16 | 46.26 |
| CEPS(Rs) | 11.35 | 13.4 | 15.78 | 18.81 | 21.73 | 26.05 | 30.15 | 35.91 | 43.46 | 45.11 | 50.47 |
| DPS(Rs) | 2 | 2.38 | 2.75 | 3.25 | 3.75 | 1.25 | 3.25 | 7.75 | 9.5 | 9.75 | 11 |
| Book NAV/Share(Rs) | 62.99 | 73.48 | 89.55 | 105.58 | 141.07 | 160.81 | 190.29 | 222.69 | 258.37 | 298.64 | 338.45 |
| Yield on Advances | 13.21 | 12.96 | 12.51 | 12.18 | 12.1 | 11.71 | 10.85 | 9.57 | 10.27 | 11.03 | 12.34 |
| Yield on Investments | 6.96 | 7.68 | 8.11 | 7.27 | 7.08 | 5.98 | 6.52 | 5.94 | 6 | 7.72 | 7.44 |
| Cost of Liabilities | 5.35 | 5.24 | 5.13 | 4.49 | 4.97 | 4.66 | 3.92 | 3.28 | 3.64 | 4.96 | 5.5 |
| NIM (Net Interest Margin) | 4.11 | 4.04 | 4.17 | 4.04 | 4.15 | 3.95 | 3.97 | 3.82 | 3.92 | 3.4 | 3.66 |
| Interest Spread | 7.86 | 7.72 | 7.38 | 7.7 | 7.13 | 7.05 | 6.93 | 6.28 | 6.64 | 6.07 | 6.85 |
| ROA(%) | 1.93 | 1.87 | 1.85 | 1.86 | 1.87 | 1.9 | 1.88 | 1.95 | 1.98 | 2 | 1.74 |
| ROE(%) | 19.94 | 18.65 | 18.41 | 18.43 | 17.05 | 16.54 | 16.5 | 16.7 | 17.24 | 17.64 | 15.12 |
| ROCE(%) | 18.36 | 16.25 | 16.35 | 16.7 | 16.27 | 14.69 | 13.83 | 14.05 | 15.24 | 15.15 | 13.22 |
| PER(x) | 23.99 | 21.16 | 24.19 | 26.52 | 28.25 | 17.34 | 25.86 | 21.42 | 19.53 | 17.17 | 19.76 |
| Price/Book(x) | 4.06 | 3.64 | 4.03 | 4.48 | 4.11 | 2.68 | 3.92 | 3.3 | 3.12 | 2.42 | 2.7 |
| Dividend Yield(%) | 0.78 | 0.89 | 0.76 | 0.69 | 0.65 | 0.29 | 0.44 | 1.05 | 1.18 | 1.35 | 1.2 |
| EV/Net Sales(x) | 6.23 | 5.93 | 6.39 | 7.59 | 7.5 | 5.4 | 7.79 | 7.67 | 6.76 | 6.45 | 6.05 |
| EV/Core EBITDA(x) | 17.22 | 16.67 | 17.11 | 18.48 | 18.47 | 12.71 | 16.24 | 15.15 | 15.32 | 18.02 | 18.42 |
| Interest Earned Growth(%) | 19.06 | 24.66 | 16.01 | 16.4 | 23.3 | 16.19 | 5.21 | 5.74 | 25.61 | 66.12 | 18.59 |
| Net Profit Growth | 22.08 | 19.79 | 19.27 | 21.41 | 20.93 | 21.61 | 16.71 | 19.76 | 20.96 | 41.82 | 12.21 |
| Advances Growth | 21.56 | 27.09 | 20.15 | 19.57 | 24.17 | 20.07 | 13.57 | 19.88 | 16.96 | 54.75 | 5.95 |
| EPS Growth(%) | 17.01 | 18.74 | 17.77 | 19.62 | 14.97 | 21.22 | 16.18 | 18.83 | 20.14 | 2.29 | 9.71 |
| Loans/Deposits(x) | 13.21 | 19 | 15.3 | 19.84 | 17.1 | 16.3 | 13.32 | 14.57 | 13.63 | 30.74 | 23.41 |
| Cash/Deposits(x) | 0.06 | 0.06 | 0.06 | 0.13 | 0.05 | 0.06 | 0.07 | 0.08 | 0.06 | 0.08 | 0.05 |
| Current Ratio(x) | 0.33 | 0.35 | 0.33 | 0.3 | 0.31 | 0.34 | 0.33 | 0.29 | 0.27 | 0.42 | 0.44 |
| Quick Ratio(x) | 13.21 | 19 | 15.3 | 19.84 | 17.1 | 16.3 | 13.32 | 14.57 | 13.63 | 30.74 | 23.41 |
| CASA % | 44.03 | 43.26 | 48.04 | 43.48 | 42.36 | 42.19 | 46.08 | 48.13 | 44.37 | 38.14 | 34.74 |
| # | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| FII | 45.05 | 45.2 | 41.34 | 40.78 | 41.53 | 42.57 | 41.79 | 42.27 | 41.9 | 41.29 |
| DII | 26.43 | 26.58 | 28.99 | 30.63 | 30.5 | 29.85 | 31.02 | 31.14 | 31.41 | 32.22 |
| Public | 14.96 | 14.68 | 16.13 | 15.08 | 14.5 | 14.13 | 13.75 | 13.17 | 13.3 | 13.12 |
| Others | 13.56 | 13.54 | 13.54 | 13.52 | 13.48 | 13.45 | 13.44 | 13.41 | 13.39 | 13.37 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| FII | 341.54 | 343.19 | 314.07 | 310.22 | 316.87 | 325.6 | 319.8 | 324.15 | 643.77 | 635.27 |
| DII | 200.39 | 201.81 | 220.26 | 233.06 | 232.74 | 228.3 | 237.39 | 238.8 | 482.56 | 495.69 |
| Public | 113.43 | 111.42 | 122.52 | 114.7 | 110.62 | 108.08 | 105.23 | 101.01 | 204.37 | 201.83 |
| Others | 102.82 | 102.83 | 102.84 | 102.84 | 102.84 | 102.84 | 102.81 | 102.84 | 205.67 | 205.67 |
| Total | 758.18 | 759.25 | 759.69 | 760.81 | 763.08 | 764.83 | 765.22 | 766.79 | 1536.37 | 1538.46 |
* The pros and cons are machine generated.
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