Cash flow HDB Financial Services Limited

Stocks

HDBFS

INE756I01012

Corporate Financial Services

Market Closed - NSE India S.E. Other stock markets 04:35:08 16/07/2026 pm IST			5-day change	1st Jan Change
752.25 ^INR	+0.07%		+2.36%	-1.74%

10:57am	Jefferies Adjusts HDB Financial Services' Price Target to INR880 From INR845, Keeps at Buy	MT
10:56am	Nomura Adjusts HDB Financial Services' Price Target to INR790 From INR740, Keeps at Neutral	MT

7c1496525437e81b1f16558d24.ed0XijrCfRPI729cWkF0_9e3XOkiiBqw8ZIklzeNQ-4.D-hQyW6pGSG8ql1uHjgVi4bjbo0azWvRkMhN-U_-NKUb7HrCY5ItWqGwIg

Published financial data: HDB FINANCIAL SERVICES LIMITED

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: March	2022	2023	2024	2025	2026
Interest and Dividend Income, Total	8.36TCr	8.93TCr	11TCr	14TCr	16TCr
Interest Expense, Total	3.29TCr	3.48TCr	4.77TCr	6.36TCr	6.78TCr
Net Interest Income	5.07TCr	5.45TCr	6.39TCr	7.47TCr	9TCr
Gain (Loss) on Sale of Investments, Total (Rev)	16Cr	85Cr	113.69Cr	55Cr	52Cr
Other Revenues, Total	2.93TCr	3.39TCr	2.9TCr	2.41TCr	2.59TCr
Revenues Before Provison For Loan Losses	8.02TCr	8.93TCr	9.4TCr	9.94TCr	12TCr
Provision For Loan Losses	2.47TCr	1.33TCr	1.07TCr	2.11TCr	2.81TCr
Total Revenues	5.55TCr	7.6TCr	8.33TCr	7.82TCr	8.84TCr
Salaries And Other Employee Benefits	3.5TCr	4.06TCr	3.85TCr	3.62TCr	3.91TCr
Cost of Services Provided, Total	15Cr	18Cr	28Cr	29Cr	42Cr
Depreciation & Amortization - (IS) - (Collected)	99Cr	111.84Cr	145.14Cr	194.42Cr	209.27Cr
Provision for Bad Debts	-1.26Cr	3.6Cr	2.37Cr	-1.04Cr	7.84Cr
Other Operating Expenses	589.86Cr	783.77Cr	1TCr	1.05TCr	1.28TCr
Total Operating Expenses	4.2TCr	4.97TCr	5.03TCr	4.9TCr	5.45TCr
Operating Income	1.35TCr	2.63TCr	3.3TCr	2.93TCr	3.39TCr
EBT, Excl. Unusual Items	1.35TCr	2.63TCr	3.3TCr	2.93TCr	3.39TCr
Gain (Loss) on Sale of Investments	-	-	-	-	-
Gain (Loss) on Sale of Assets	6L	1.01Cr	85L	20L	99L
EBT, Incl. Unusual Items	1.35TCr	2.63TCr	3.3TCr	2.93TCr	3.39TCr
Income Tax Expense	336.16Cr	668.05Cr	843.83Cr	751.88Cr	842.45Cr
Earnings From Continuing Operations	1.01TCr	1.96TCr	2.46TCr	2.18TCr	2.54TCr
Net Income to Company	1.01TCr	1.96TCr	2.46TCr	2.18TCr	2.54TCr
Net Income - (IS)	1.01TCr	1.96TCr	2.46TCr	2.18TCr	2.54TCr
Net Income to Common Incl Extra Items	1.01TCr	1.96TCr	2.46TCr	2.18TCr	2.54TCr
Net Income to Common Excl. Extra Items	1.01TCr	1.96TCr	2.46TCr	2.18TCr	2.54TCr
Per Share Items
Net EPS - Basic	12.81	24.78	31.08	27.4	30.97
Basic EPS - Continuing Operations	12.81	24.78	31.08	27.4	30.97
Basic Weighted Average Shares Outstanding	79Cr	79Cr	79Cr	79Cr	82Cr
Net EPS - Diluted	12.8	24.76	31.04	27.32	30.88
Diluted EPS - Continuing Operations	12.8	24.76	31.04	27.32	30.88
Diluted Weighted Average Shares Outstanding	79Cr	79Cr	79Cr	80Cr	82Cr
Normalized Basic EPS	10.67	20.76	26.08	23.04	25.76
Normalized Diluted EPS	10.66	20.74	26.04	22.98	25.68
Dividend Per Share	1	2	3	3	4
Payout Ratio	-	7.67	9.97	10.94	9.65
Supplemental Items
Total Revenues (As Reported)	11TCr	12TCr	14TCr	16TCr	18TCr
Effective Tax Rate - (Ratio)	24.95	25.43	25.53	25.68	24.88
Current Domestic Taxes	-	-	-	679.08Cr	903.42Cr
Total Current Taxes	663.4Cr	621.3Cr	770.67Cr	679.08Cr	903.42Cr
Deferred Domestic Taxes	-	-	-	73Cr	-61Cr
Total Deferred Taxes	-327.24Cr	47Cr	73Cr	73Cr	-61Cr
Normalized Net Income	842.19Cr	1.64TCr	2.06TCr	1.83TCr	2.12TCr
Non-Cash Pension Expense	4.09Cr	3.4Cr	5.79Cr	7.78Cr	69Cr
Supplemental Operating Expense Items
Stock-Based Comp., G&A Exp. (Total)	30Cr	44Cr	55Cr	62Cr	49Cr
Total Stock-Based Compensation	30Cr	44Cr	55Cr	62Cr	49Cr

Fiscal Period: March	2022	2023	2024	2025	2026
Assets
Cash And Equivalents	507.78Cr	395.9Cr	647.85Cr	950.46Cr	1.25TCr
Accounts Receivable, Total	141.82Cr	66Cr	124.61Cr	225.17Cr	295.95Cr
Other Receivables	57TCr	66TCr	87TCr	1,03300Cr	1,14700Cr
Gross Property Plant And Equipment	609.26Cr	721.05Cr	883.33Cr	1.15TCr	1.22TCr
Accumulated Depreciation	-328.63Cr	-354.41Cr	-394.29Cr	-448.9Cr	-514.11Cr
Net Property Plant And Equipment	280.63Cr	366.64Cr	489.04Cr	702.79Cr	708.19Cr
Other Intangibles, Total	12Cr	20Cr	22Cr	32Cr	65Cr
Investment In Debt and Equity Securities	1.45Cr	1.95Cr	1.59TCr	2.04TCr	3.74TCr
Trading Asset Securities, Total	2.36TCr	1.41TCr	1.79TCr	124.04Cr	1.34TCr
Other Current Assets, Total	502.36Cr	399.87Cr	190.86Cr	318.22Cr	601.15Cr
Deferred Tax Assets Long-Term (Collected)	1.05TCr	1TCr	939.95Cr	883.25Cr	943.08Cr
Other Long-Term Assets, Total	43L	9.02Cr	38Cr	40Cr	8.26Cr
Total Assets	62TCr	70TCr	93TCr	1,08700Cr	1,23700Cr
Liabilities
Accounts Payable, Total	246.91Cr	291.84Cr	509Cr	452.68Cr	179.88Cr
Accrued Expenses, Total	2TCr	1.79TCr	2.71TCr	3.21TCr	1.16TCr
Short-Term Borrowings	825.2Cr	1.22TCr	1.86TCr	4.45TCr	2.33TCr
Current Portion of Long-Term Debt	14TCr	17TCr	24TCr	33TCr	-
Current Portion of Leases	46Cr	53Cr	60Cr	66Cr	74Cr
Long-Term Debt	35TCr	37TCr	49TCr	51TCr	97TCr
Long-Term Leases	193.49Cr	226.35Cr	310.79Cr	446.48Cr	470.56Cr
Current Income Taxes Payable	60Cr	42Cr	59Cr	66Cr	93Cr
Other Current Liabilities - (Brok / FS / Ins. / REIT Template)	-	1L	4L	6L	13Cr
Pension & Other Post Retirement Benefits	106.65Cr	113.89Cr	136.68Cr	150.89Cr	243.1Cr
Other Non Current Liabilities	10Cr	10Cr	10Cr	134.61Cr	1.22TCr
Total Liabilities	52TCr	59TCr	79TCr	93TCr	1,03000Cr
Common Stock, Total	790.44Cr	791.4Cr	793.08Cr	795.78Cr	830.33Cr
Additional Paid In Capital	3.06TCr	3.13TCr	3.22TCr	3.37TCr	5.84TCr
Retained Earnings	5.72TCr	7.53TCr	9.74TCr	12TCr	14TCr
Comprehensive Income and Other	-26Cr	-12Cr	-18Cr	-30Cr	115.32Cr
Total Common Equity	9.54TCr	11TCr	14TCr	16TCr	21TCr
Total Equity	9.54TCr	11TCr	14TCr	16TCr	21TCr
Total Liabilities And Equity	62TCr	70TCr	93TCr	1,08700Cr	1,23700Cr
Supplemental Items
ECS Total Shares Outstanding on Filing Date	79Cr	79Cr	79Cr	80Cr	83Cr
ECS Total Common Shares Outstanding	79Cr	79Cr	79Cr	80Cr	83Cr
Book Value / Share	120.69	144.52	173.28	198.8	248.87
Tangible Book Value	9.53TCr	11TCr	14TCr	16TCr	21TCr
Tangible Book Value Per Share	120.54	144.26	173	198.39	248.08
Total Debt	50TCr	56TCr	75TCr	89TCr	1,00100Cr
Debt Equivalent of Unfunded Proj. Benefit Obligation	71Cr	78Cr	107.89Cr	119.44Cr	211.22Cr
Net Debt	47TCr	55TCr	73TCr	88TCr	97TCr
Full Time Employees	1L	1L	88.82T	89.94T	88.16T
Accumulated Allowance for Doubtful Accounts (Supple)	3.3Cr	6.9Cr	9.27Cr	8.23Cr	16Cr

Fiscal Period: March	2022	2023	2024	2025	2026
Net Income	1.01TCr	1.96TCr	2.46TCr	2.18TCr	2.54TCr
Depreciation, Depletion & Amortization	91Cr	101.65Cr	132.52Cr	176.08Cr	188.47Cr
Total Depreciation, Depletion & Amortization	91Cr	101.65Cr	132.52Cr	176.08Cr	188.47Cr
Amortization of Deferred Charges, Total	16Cr	19Cr	90Cr	117.59Cr	193.56Cr
(Gain) Loss On Sale of Asset - (CF)	-6L	-1.01Cr	-85L	-20L	-99L
(Gain) Loss on Sale of Investments - (CF)	2.48TCr	1.25TCr	953.7Cr	2.06TCr	2.76TCr
Stock-Based Compensation (CF)	30Cr	44Cr	55Cr	62Cr	49Cr
Change in Accounts Receivable	-24Cr	76Cr	-59Cr	-100Cr	-79Cr
Change in Accounts Payable	-87Cr	45Cr	217.16Cr	-56Cr	-259.42Cr
Change in Other Net Operating Assets (Collected)	2.63TCr	-11TCr	-21TCr	-18TCr	-14TCr
Other Operating Activities	-4.19TCr	881.41Cr	573.83Cr	348.65Cr	-482.38Cr
Cash from Operations	1.96TCr	-6.85TCr	-17TCr	-14TCr	-8.61TCr
Capital Expenditure	-41Cr	-111.32Cr	-123.35Cr	-209.79Cr	-143.61Cr
Sale of Property, Plant, and Equipment	1.27Cr	1.5Cr	1.18Cr	1.85Cr	2.65Cr
Investment in Marketable and Equity Securities, Total	-663.42Cr	1.08TCr	-2.02TCr	1.37TCr	-1.63TCr
Other Investing Activities, Total	-	-	-	-	-
Cash from Investing	-703.28Cr	973.32Cr	-2.15TCr	1.16TCr	-1.77TCr
Long-Term Debt Issued, Total	18TCr	27TCr	54TCr	70TCr	83TCr
Total Debt Issued	18TCr	27TCr	54TCr	70TCr	83TCr
Long-Term Debt Repaid, Total	-19TCr	-21TCr	-35TCr	-57TCr	-75TCr
Total Debt Repaid	-19TCr	-21TCr	-35TCr	-57TCr	-75TCr
Issuance of Common Stock	38Cr	34Cr	71Cr	124.62Cr	2.49TCr
Common Dividends Paid	-	-150.25Cr	-245.38Cr	-238.1Cr	-245.49Cr
Common & Preferred Stock Dividends Paid	-	-150.25Cr	-245.38Cr	-238.1Cr	-245.49Cr
Other Financing Activities, Total	-	-	-	-	-
Cash from Financing	-1.5TCr	5.8TCr	19TCr	13TCr	11TCr
Miscellaneous Cash Flow Adjustments	-	-1L	-	-	-
Net Change in Cash	-245.73Cr	-81Cr	251.95Cr	302.61Cr	295.66Cr
Supplemental Items
Cash Interest Paid	3.7TCr	3.84TCr	4.11TCr	5.81TCr	6.9TCr
Cash Income Tax Paid (Refund)	-514.43Cr	-632.41Cr	750.42Cr	694.77Cr	910.38Cr
Net Debt Issued / Repaid	-1.54TCr	5.91TCr	19TCr	13TCr	8.43TCr

Fiscal Period: March	2022	2023	2024	2025	2026
Profitability
Return on Assets	1.62	2.97	3.03	2.16	2.19
Return On Equity %	11.25	18.68	19.55	14.72	13.94
Return on Common Equity	11.25	18.68	19.55	14.72	13.94
Margin Analysis
Gross Profit Margin %	99.83	99.87	99.85	99.69	99.78
SG&A Margin	63.17	53.48	46.39	46.32	44.53
Income From Continuing Operations Margin %	18.22	25.78	29.53	27.81	28.78
Net Income Margin %	18.22	25.78	29.53	27.81	28.78
Net Avail. For Common Margin %	18.22	25.78	29.53	27.81	28.78
Normalized Net Income Margin	15.17	21.6	24.78	23.39	23.94
Asset Turnover
Asset Turnover	0.09	0.12	0.1	0.08	0.08
Short Term Liquidity
Current Ratio	3.57	3.29	3.07	2.54	30.74
Quick Ratio	3.54	3.27	3.06	2.54	30.58
Operating Cash Flow to Current Liabilities	0.12	-0.33	-0.57	-0.33	-2.24
Long Term Solvency
Total Debt/Equity	524.78	492.83	548.55	561.53	484.31
Total Debt / Total Capital	83.99	83.13	84.58	84.88	82.89
LT Debt/Equity	370.83	328.7	360.3	324.17	472.68
Long-Term Debt / Total Capital	59.35	55.45	55.56	49	80.9
Total Liabilities / Total Assets	84.62	83.67	85.15	85.44	83.29
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	37.02	36.95	9.65	-5.26	12.98
Gross Profit, 1 Yr. Growth %	36.98	36.99	9.63	-5.41	13.08
Earnings From Cont. Operations, 1 Yr. Growth %	158.36	93.73	25.59	-11.58	16.91
Net Income, 1 Yr. Growth %	158.36	93.73	25.59	-11.58	16.91
Normalized Net Income, 1 Yr. Growth %	168.36	94.91	25.79	-11.39	15.63
Diluted EPS Before Extra, 1 Yr. Growth %	157.66	93.44	25.36	-11.98	13.03
Common Equity, 1 Yr. Growth %	12.95	19.89	20.16	15.11	30.62
Total Assets, 1 Yr. Growth %	-0.98	12.94	32.13	17.4	13.79
Tangible Book Value, 1 Yr. Growth %	12.91	19.82	20.18	15.06	30.48
Cash From Operations, 1 Yr. Growth %	-672.67	-444.75	144.3	-18.58	-36.85
Capital Expenditures, 1 Yr. Growth %	66.92	170.65	10.81	70.08	-31.55
Dividend Per Share, 1 Yr. Growth %	-	100	50	0	33.33
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	0.06	36.98	22.54	1.45	3.46
Gross Profit, 2 Yr. CAGR %	0.03	36.99	22.55	1.36	3.42
Earnings From Cont. Operations, 2 Yr. CAGR %	0.33	123.72	55.98	5.38	1.67
Net Income, 2 Yr. CAGR %	0.33	123.72	55.98	5.38	1.67
Normalized Net Income, 2 Yr. CAGR %	-4.07	128.7	56.58	5.58	1.23
Diluted EPS Before Extra, 2 Yr. CAGR %	0.12	123.25	55.72	5.04	-0.26
Common Equity, 2 Yr. CAGR %	9.08	16.37	20.02	17.61	22.62
Total Assets, 2 Yr. CAGR %	1.07	5.75	22.16	24.55	15.58
Tangible Book Value, 2 Yr. CAGR %	9.07	16.32	20	17.59	22.53
Cash From Operations, 2 Yr. CAGR %	-19.66	347.72	190.21	41.03	-28.29
Capital Expenditures, 2 Yr. CAGR %	-24.85	112.55	73.18	37.28	7.9
Dividend Per Share, 2 Yr. CAGR %	-	-	73.21	22.47	15.47
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-0.26	11.09	27.19	12.12	5.16
Gross Profit, 3 Yr. CAGR %	-0.29	11.08	27.19	12.07	5.13
Earnings From Cont. Operations, 3 Yr. CAGR %	-4.28	24.93	84.56	29.09	9.09
Net Income, 3 Yr. CAGR %	-4.28	24.93	84.56	29.09	9.09
Normalized Net Income, 3 Yr. CAGR %	-7.89	21.5	87.38	29.52	8.83
Diluted EPS Before Extra, 3 Yr. CAGR %	-4.49	24.7	84.19	28.75	7.64
Common Equity, 3 Yr. CAGR %	9.94	12.57	17.62	18.36	21.8
Total Assets, 3 Yr. CAGR %	3.65	4.88	13.9	20.55	20.85
Tangible Book Value, 3 Yr. CAGR %	9.94	12.54	17.59	18.33	21.74
Cash From Operations, 3 Yr. CAGR %	-39.85	31.22	265.86	89.99	7.9
Capital Expenditures, 3 Yr. CAGR %	-5.28	15.19	71.07	72.14	8.86
Dividend Per Share, 3 Yr. CAGR %	-17.79	-	-	44.22	25.99
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	9.33	9.44	8.3	7.13	16.89
Gross Profit, 5 Yr. CAGR %	9.3	9.43	8.29	7.09	16.87
Earnings From Cont. Operations, 5 Yr. CAGR %	8.13	16	16.37	16.71	45.4
Net Income, 5 Yr. CAGR %	8.13	16	16.37	16.71	45.4
Normalized Net Income, 5 Yr. CAGR %	4.94	12.83	13.89	14.86	46.47
Diluted EPS Before Extra, 5 Yr. CAGR %	5.84	15.74	16.14	16.43	44.11
Common Equity, 5 Yr. CAGR %	12.21	13.62	13.87	14.56	19.59
Total Assets, 5 Yr. CAGR %	13.14	9.04	10.69	12.35	14.57
Tangible Book Value, 5 Yr. CAGR %	12.2	13.61	13.86	14.54	19.54
Cash From Operations, 5 Yr. CAGR %	-22.03	-3.5	13.23	35.06	90.64
Capital Expenditures, 5 Yr. CAGR %	-11.15	16.61	20.58	23.56	42.27
Dividend Per Share, 5 Yr. CAGR %	-7.79	4.56	10.76	-	-