HDB Financial Services Ltd.
HDBFSFinancial Services filings
We hold this company’s filings and have not read the financial statements out of them yet. Every filing on record is listed under filings, and each one opens.
Earnings calls
4 transcript(s)/analyst meet(s) served; 0 document(s) on file are not transcripts (cover letters, duplicates, unresolved) and are excluded. Speaker attribution is shown only where the segmenter attributes ≥ 95% of sentences to management or analysts (0 of 4 documents here); elsewhere sentences render unattributed.
| Kind | Date | Period | Served | Attribution rate |
|---|---|---|---|---|
| TRANSCRIPT | 20250721 | 2025-06-30 | yes | |
| TRANSCRIPT | 20260120 | 2025-12-31 | yes | |
| TRANSCRIPT | 20260421 | 2026-03-31 | yes | |
| TRANSCRIPT | 20260720 | 2026-06-30 | yes |
HDBFS
files the standard Schedule III statements. Every figure below opens to the filing it was read from; where a figure is not shown, the reason is printed in its place.
Identity
| Statement division | general |
| Scope served | standalone |
| Panels on this page | 4 |
Market
No split, bonus or consolidation is on record for this company inside the period this price series covers, so the closes need no adjustment.
| Last close | 661.00 |
| 52-week range | 559.95 – 772.9 |
| Return 1M | -3.87% |
| Return 3M | -11.1% |
| Return 1Y | -14.48% |
| Return 3Y | not reported for this period |
| Return 5Y | not reported for this period |
| Market capitalisation | not shown — we could not confirm it |
| Shares outstanding | not shown — we could not confirm it |
| P/E | not shown — we could not confirm it |
| P/B | not shown — we could not confirm it |
| EV/EBITDA | not shown — we could not confirm it |
Latest quarter filed — period ending 2026-06-30
In INR crore except per-share figures. `period_id` is the period the filing names for the number; the date beside each cell is when it was filed.
| Revenue from operations | 4,938.00 |
| Other income | 0.00 |
| Total income | 4,938.00 |
| Cost of materials consumed | 0.00 |
| Purchases of stock-in-trade | 0.00 |
| Changes in inventories | 0.00 |
| Employee benefit expense | 1,035.00 |
| Finance costs | 1,753.00 |
Ownership — 2026-06-30, and the change from 2026-03-31
| Holder | Per cent | Change |
|---|---|---|
| promoter and promoter group | 0.74 | 0.00 |
| institutions foreign | 0.04 | 0.01 |
| institutions domestic | 0.12 | -0.00 |
| mutual funds | 0.11 | -0.00 |
| public | 0.26 | 0.00 |
Documents on file
| Class | Most recent | On file |
|---|---|---|
| TRANSCRIPT | 2026-06-30 | 4 |
Financial statements
Filed results, standalone, in INR crore except per-share figures. Every figure opens to the filing it was read from. Quarterly and annual columns are the periods the filing itself names, never a document date.
Quarterly results, as filed
| Line | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|
| Revenue from operations | 4,465.00 | 4,545.00 | 4,673.00 | 4,745.00 | 4,938.00 |
| Other income | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total income | 4,465.00 | 4,545.00 | 4,673.00 | 4,745.00 | 4,938.00 |
| Cost of materials consumed | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Purchases of stock-in-trade | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Changes in inventories | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Employee benefit expense | 960.00 | 958.00 | 1,025.00 | 971.00 | 1,035.00 |
| Finance costs | 1,740.00 | 1,694.00 | 1,704.00 | 1,682.00 | 1,753.00 |
| Depreciation and amortisation | 51.00 | 52.00 | 51.00 | 54.00 | 55.00 |
| Other expenses | 312.00 | 311.00 | 321.00 | 342.00 | 342.00 |
| Total expenses | 3,733.00 | 3,763.00 | 3,813.00 | 3,734.00 | 3,883.00 |
| Profit before exceptional items and tax | 733.00 | 782.00 | 860.00 | 1,011.00 | 1,055.00 |
| Exceptional items | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Profit before tax | 733.00 | 782.00 | 860.00 | 1,011.00 | 1,055.00 |
| Current tax | 188.00 | 212.00 | 211.00 | 292.00 | 316.00 |
| Deferred tax | -24.00 | -11.00 | 5.00 | -31.00 | -46.00 |
| Tax expense | 165.00 | 201.00 | 216.00 | 261.00 | 270.00 |
| Profit for the period | 568.00 | 581.00 | 644.00 | 751.00 | 785.00 |
| Other comprehensive income | -83.00 | 47.00 | -11.00 | 50.00 | 13.00 |
| Total comprehensive income | 485.00 | 628.00 | 633.00 | 801.00 | 798.00 |
| Earnings per share, basic | 7.13 | 7.01 | 7.76 | 9.04 | 9.46 |
| Earnings per share, diluted | 7.11 | 6.98 | 7.74 | 9.02 | 9.43 |
| Interest earned | 3,832.00 | 3,886.00 | 3,989.00 | 4,081.00 | 4,262.00 |
| Fees and commission income | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Net gain on fair value changes | 25.00 | 13.00 | 7.00 | 7.00 | 12.00 |
| Dividend income | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Rental income | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Annual results, as filed
| Line | 2026-03-31 |
|---|---|
| Revenue from operations | 18,430.00 |
| Other income | 0.00 |
| Total income | 18,430.00 |
| Cost of materials consumed | 0.00 |
| Purchases of stock-in-trade | 0.00 |
| Changes in inventories | 0.00 |
| Employee benefit expense | 3,914.00 |
| Finance costs | 6,820.00 |
| Depreciation and amortisation | 209.00 |
| Other expenses | 1,285.00 |
| Total expenses | 15,043.00 |
| Profit before exceptional items and tax | 3,386.00 |
| Exceptional items | 0.00 |
| Profit before tax | 3,386.00 |
| Current tax | 930.00 |
| Deferred tax | -88.00 |
| Tax expense | 843.00 |
| Profit for the period | 2,544.00 |
| Other comprehensive income | 3.00 |
| Total comprehensive income | 2,547.00 |
| Earnings per share, basic | 30.97 |
| Earnings per share, diluted | 30.88 |
| Interest earned | 15,788.00 |
| Fees and commission income | 0.00 |
| Net gain on fair value changes | 52.00 |
| Dividend income | 0.00 |
| Rental income | 0.00 |
Balance sheet, as filed
| Line | 2025-09-30 | 2026-03-31 |
|---|---|---|
| Total assets | 114,774.00 | 123,652.00 |
| Property, plant and equipment | 227.00 | 230.00 |
| Capital work-in-progress | 0.00 | 0.00 |
| Goodwill | 0.00 | 0.00 |
| Other intangible assets | 29.00 | 65.00 |
| Inventories | 0.00 | 0.00 |
| Cash and cash equivalents | 1,138.00 | 1,246.00 |
| Total equity and liabilities | 114,774.00 | 123,652.00 |
| Equity | 19,338.00 | 20,664.00 |
| Equity share capital | 830.00 | 830.00 |
| Other equity | 18,509.00 | 19,834.00 |
| Total liabilities | 95,436.00 | 102,987.00 |
Cash flow, as filed
| Line | 2025-09-30 | 2026-03-31 |
|---|---|---|
| Net cash from operating activities | -3,814.00 | -8,606.00 |
| Net cash from investing activities | -963.00 | -1,772.00 |
| Net cash from financing activities | 4,964.00 | 10,673.00 |
| Purchase of property, plant and equipment | 42.00 | 144.00 |
| Net increase in cash | 187.00 | 296.00 |
| con:CFO.BEFORE_TAX | -7,047.00 | -16,366.00 |
| con:INTEREST_RECEIVED.OPERATING | 7,579.00 | 15,569.00 |
| con:INTEREST_PAID.OPERATING | 3,907.00 | 6,898.00 |
| con:DIVIDENDS_RECEIVED.OPERATING | 0.00 | 0.00 |
| con:TAX_PAID.OPERATING | 439.00 | 910.00 |
| con:CF_OTHER.OPERATING | 0.00 | 0.00 |
| con:INVESTMENTS_PURCHASED | 25,744.00 | 43,730.00 |
| con:INVESTMENTS_SOLD | 24,822.00 | 42,099.00 |
| con:PPE_DISPOSALS | 1.00 | 3.00 |
| con:CF_INVESTING.SUBSIDIARIES_SOLD | 0.00 | 0.00 |
| con:CF_INVESTING.SUBSIDIARIES_ACQUIRED | 0.00 | 0.00 |
| con:CF_INVESTING.JV_SOLD | 0.00 | 0.00 |
| con:CF_INVESTING.JV_ACQUIRED | 0.00 | 0.00 |
Who owns it
The shareholding pattern filed with the exchange every quarter, as a series. Percentages are of total shares. Each figure names the filing it was read from and the date it was filed.
| Holder | 2025-07-02 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|
| Promoter and promoter group | 74.19 | 0.74 | 0.74 | 0.74 | 0.74 |
| Domestic institutions | 5.17 | 0.11 | 0.11 | 0.12 | 0.12 |
| Mutual funds | 3.02 | 0.10 | 0.10 | 0.11 | 0.11 |
| Insurance companies | 0.76 | 0.01 | 0.01 | 0.01 | 0.01 |
| Foreign institutions | 4.11 | 0.03 | 0.03 | 0.03 | 0.04 |
| Government | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Public | 25.58 | 0.26 | 0.26 | 0.26 | 0.26 |
| Non-institutional | 16.30 | 0.11 | 0.11 | 0.10 | 0.10 |
| Shares outstanding | 829566727 | 829566727 | 830038180 | 830327216 | 830376676 |
What management said
Every earnings call we hold for this company, read in full. Prepared remarks are separated from the question-and-answer session and every paragraph names who said it and on which page. These are management’s own words, not filed figures.
| Date | Quarter | Who spoke | |
|---|---|---|---|
| 2026-07-20 | Q1FY27 | Read the call | |
| 2026-04-21 | Q4FY26 | Read the call | |
| 2026-01-20 | Q3FY26 | Read the call | |
| 2025-07-21 | Q1FY26 | Read the call |
What they said about it, quarter by quarter
| Topic | Q1FY26 | Q1FY27 | Q3FY26 | Q4FY26 |
|---|---|---|---|---|
| Capital allocation | — | And these are places where we have a boot on the ground, which means that we know what's happening on the ground and we can make sure that we are tail… | — | — |
| Debt and cash | These loans are primarily delivered to our branch network, and these loans are aimed at providing finance for the growth and working capital requireme… | So the real challenge is that the ECLGS is specifically around working capital. | — | — |
| Demand | Q1 FY26 Earnings Call July 15, 2025 Coming to the quarterly business updates, With an expected stable monsoon season – higher farm incomes and consequ… | Improving sentiments, led by demand around last-mile mobility bode well for our Asset Finance business, while monsoon remains a key monitorable. | Broad-based set of measures in fiscal and monetary policy, supported by expected good winter harvest, bodes well for the domestic demand. | Robust rural demand, sustained momentum in domestic economic activity, and supportive policy measures augur well for the economy. |
| Guidance | And our Net Interest Margin also expanded to 7.7% from 7.6% primarily on the back of higher yield, right, the impact of some of the rate reductions th… | Our LAP+ EBL, which is our mortgage book, expanded by 13.2% YoY and we anticipate this upward trajectory to continue. | As asset quality pressure eases further, we expect to return to a growth trajectory in the coming quarters. | We expect positive momentum on our unsecured business loans going forward, where we have seen significant improvement in asset quality. |
| Margin | Secured loans, as Ramesh mentioned, comprise 73% of the total loan book. Disbursements for the quarter ended at June 30, 2025, was ₹15,171 crores, d… | Secured loans comprised 73.9% of the gross loan book. Profit after tax for the quarter ended June 30, 2026, was ₹785 crores, our highest ever quarte… | Secured loans of the total amount consisted of 74% Disbursements for the quarter ended December 31, 2025, for ₹17,917 crores, up 14.9% sequentially,… | Secured loans comprised 74% of the gross loan book. Disbursements for the quarter ended March 31, 2026, was ₹19,922 crores, up 11.2% sequentially – … |
| People | So, like any outlook on operator profitability and vehicle utilization levels, and what gives you the confidence that this could improve in the coming… | In lot of these segments, transport is not linked to distance traveled, it's more a per day rate for hiring a vehicle. | What are you seeing in terms of customers’ ability to repay, fleet utilization, maybe if you can share some numbers around collection efficiencies on … | — |
| Pricing | It's typically a per trip or per project kind of pricing that these businesses work on, and not really a cost per kilometer kind of model. | And just a follow-up on the asset finance book in for your customer base, all the fuel supply shock, all the – the fuel price hike etc., is there any … | And plus, even the pricing clarity wasn't there for almost, you know, a couple of weeks or a month in the beginning. | Now, the whole focus is just one, making sure our guys get onto the ground with the confidence that the risk-adjusted pricing that we are talking abou… |
| Revenue growth | And so, specifically, if you look at, you know, relative to the book growth of about 15%, our net interest income grew by about 18.3% Y-o-Y. | Commercial Vehicles book registered a modest growth of 10% YoY, while Construction Equipment book grew by 8% in the same period. | Excluding the one-time impact on account of the new labour codes, profit after tax for the quarter ended December 31, 2025 was ₹686 crores, a growth o… | Cost to assets for the year was at 3.8% PPOP, which is Pre-Provisioning Operating Profit, for the quarter was at ₹1,675 crores as against ₹1,555 cro… |