Stock market indices
Nifty 500
Market Cap
₹42,557 Cr
HDBFS · NSE
Share Price
₹510.05
-0.43% today
Revenue
₹16,300 Cr
FY 2024-25 · +15.0% YoY
EBITDA
₹9,556 Cr
Margin 58.6%
Net Profit
₹2,176 Cr
FY 2024-25 · -11.6% YoY
P/E (TTM)
19.4x
P/B 2.3x
ROE
14.7%
ROCE 9.8%
Debt / Equity
5.47
Interest cover 68.7x
About HDB Financial Services Limited
Data last updated:
HDB Financial Services Limited is a public limited company based in Ahmedabad, Gujarat, India, a subsidiary of Hdfc Bank Limited. It operates in the investment and credit NBFC segment of the financial services sector. It was incorporated on 04 June 2007 and has been in existence for over 19 years.
HDB Financial Services is part of the Nifty 500 index.
The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN L65993GJ2007PLC051028. Its GSTIN is 24AABCH8761M1Z7 (Gujarat). The company holds 37 GST registrations, of which 32 are active. Its shares are listed on BSE: 544429 and NSE: HDBFS.
The company has an authorised share capital of ₹1,001.55 Cr and a paid-up capital of ₹830.79 Cr. It is led by directors including Ramesh Ganesan (Managing Director) and Arundhati Mech.
Its last annual general meeting (AGM) was held on 26 June 2026, and its latest financial statements are for the year ended 31 March 2026. The registered office is at Radhika 2nd Floor Law Garden Road Navrangpura, Ahmedabad, Gujarat, India – 380009.
As per the latest standalone financials for FY 2025-26, the company reported a revenue of ₹18,431 Cr, a growth of 13.1% compared to the previous year. For the same year it recorded a net profit of ₹2,543.11 Cr (net margin 13.8%) and EBITDA of ₹10,452 Cr (EBITDA margin 56.7%). The net worth stands at ₹20,664 Cr (up 30.6% YoY). Total assets are valued at ₹1,19,894 Cr (up 13.6% YoY).
The company has about 117,736 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: HDB Financial Services. As per MCA filings, the company has open charges of ₹1,42,982 Cr and satisfied charges of ₹1,11,593 Cr on record. Court records list 1,69,844 cases involving the company, including 1,65,602 filed by the company and 4,254 filed against it; 93,222 cases are pending. The company has 17 deals on record (9 debt financings, 4 rights issues, 3 funding rounds), with disclosed funding of ₹29,837 Cr; the latest was in June 2025. Its 9 peer companies in the BFSI industry (Large NBFC, NBFC Investment and Credit Companies, Systemically Important Non Deposit NBFC), with the same principal business activity (other financial activities) are compared by revenue, 4 larger and 5 smaller; the largest is Reliance Capital Ltd with revenue of ₹24,444 Cr.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website hdbfs.com.
Company details
CIN L65993GJ2007PLC051028
Registration Number 051028
Incorporation Date 04 June 2007
ROC Ahmedabad
Listing Status Listed (BSE: 544429, NSE: HDBFS)
Company Status Active
Date of Last AGM 26 June 2026
Date of Balance Sheet 31 March 2026
Parent Company Hdfc Bank Limited
Compliance Status Active Compliant
CIN history
HDB Financial Services has one previous CIN (Corporate Identification Number): U65993GJ2007PLC051028. The current CIN is L65993GJ2007PLC051028, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| L65993GJ2007PLC051028 | Current |
| U65993GJ2007PLC051028 | Previous |
Recognitions & Rankings of HDB Financial Services
Contact details
HDB Financial Services Limited's registered office is in Ahmedabad, Gujarat.
- Social Media
- Apps
- Registered AddressRadhika 2nd Floor Law Garden Road Navrangpura, Ahmedabad, Gujarat, India – 380009
- IndustryFinancial Services, Investment & Credit NBFC, NBFC
Comprehensive company report
HDB Financial Services Limited - one report that includes everything
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
₹799 ₹999 20% off excluding 18% GST
Secure checkout · GST invoice included
Brands
HDB Financial Services operates one associated brand: HDB Financial Services. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Non-banking financial services including loans and BPO operations are provided. | hdbfs.com |
Business activity
The main business activity of HDB Financial Services is financial and insurance service. In detail, this covers other financial activities.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| K | Financial and insurance Service | K8 | Other financial activities |
To see the full business activity and turnover split of HDB Financial Services Limited, buy the company report.
Financials of HDB Financial Services Limited
FY 2025-26 filings availableHDB Financial Services Limited reported revenue of ₹18,431 Cr (up 13.1% YoY) for FY 2025-26.
Financial Highlights
FY 2024-25 · ConsolidatedRevenue
₹16,300 Cr
+15.0% YoY
EBITDA
₹9,556 Cr
+14.3% YoY
Profit After Tax
₹2,176 Cr
-11.6% YoY
Net Worth
₹15,820 Cr
+15.1% YoY
Total Assets
₹1,03,218 Cr
+17.2% YoY
Total Debt
₹87,398 Cr
+17.6% YoY
Revenue vs Net Profit ₹ Cr
Margin trends
Financial summary ₹ Cr
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2018-19 | FY 2017-18 |
|---|---|---|---|---|---|
| Income statement | |||||
| Revenue | 16,300 | 14,173 | 12,403 | 8,725 | 7,027 |
| Revenue growth | +15.0% | +14.3% | - | +24.2% | - |
| EBITDA | 9,556 | 8,357 | 6,251 | 5,119 | 3,930 |
| EBITDA margin | +58.6% | +59.0% | +50.4% | +58.7% | +55.9% |
| Profit before tax | 2,928 | 3,305 | 2,627 | 1,724 | 1,436 |
| Net profit | 2,176 | 2,460 | 1,959 | 1,154 | 933 |
| Net profit margin | +13.4% | +17.4% | +15.8% | +13.2% | +13.3% |
| EPS (₹) | 27.34 | 31.03 | 24.76 | 14.68 | 11.92 |
| Balance sheet | |||||
| Total assets | 1,03,218 | 88,073 | 66,302 | 52,364 | 41,885 |
| Net worth | 15,820 | 13,743 | 11,437 | 7,178 | 6,040 |
| Total debt | 87,398 | 74,331 | 54,865 | 45,105 | 35,753 |
| Cash & bank | 984 | 703 | 654 | 489 | 137 |
| Net working capital | (3,804) | (3,479) | (2,712) | 51,288 | 41,051 |
| Cash flow | |||||
| Cash from operations | (13,626) | (16,736) | (6,851) | (8,991) | (8,186) |
| Cash from investing | 1,159 | (2,146) | 973 | (181) | (49.19) |
| Cash from financing | 12,770 | 19,134 | 5,796 | 9,445 | 8,226 |
| Particulars | Mar 2025 | Dec 2024 | Mar 2024 |
|---|---|---|---|
| Revenue | 4,266 | 4,144 | 3,667 |
| Revenue growth (YoY) | +16.3% | - | - |
| Other income | 0.00 | 0.00 | 0.00 |
| EBITDA | 2,408 | 2,334 | 2,299 |
| EBITDA margin | +56.5% | +56.3% | +62.7% |
| Depreciation | 53.80 | 48.60 | 40.40 |
| Interest | 1,650 | 1,645 | 1,377 |
| Profit before tax | 704 | 641 | 882 |
| Tax | 173 | 168 | 226 |
| Net profit | 531 | 472 | 656 |
| EPS (₹) | 6.65 | 5.93 | 8.27 |
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| Revenue | 18,431 | 16,300 | 14,173 | 12,403 | 11,312 | 10,945 |
| Revenue growth | +13.1% | +15.0% | +14.3% | +9.7% | +3.4% | - |
| EBITDA | 10,452 | 9,556 | 8,357 | 6,251 | 4,772 | 4,491 |
| EBITDA margin | +56.7% | +58.6% | +59.0% | +50.4% | +42.2% | +41.0% |
| Profit before tax | 3,386 | 2,928 | 3,305 | 2,627 | 1,348 | 501 |
| Net profit | 2,543 | 2,176 | 2,460 | 1,959 | 1,011 | 392 |
| Net profit margin | +13.8% | +13.4% | +17.4% | +15.8% | +8.9% | +3.6% |
| EPS (₹) | 30.64 | 27.34 | 31.03 | 24.76 | 12.80 | 4.96 |
| Balance sheet | ||||||
| Total assets | 1,19,894 | 1,05,502 | 88,073 | 66,302 | 58,513 | 58,805 |
| Net worth | 20,664 | 15,820 | 13,743 | 11,437 | 9,540 | 8,446 |
| Total debt | 99,230 | 89,682 | 74,331 | 54,865 | 48,973 | 50,359 |
| Cash & bank | 1,674 | 984 | 703 | 654 | 684 | 976 |
| Net working capital | (260) | (1,519) | (3,479) | (2,712) | (2,227) | (2,436) |
| Cash flow | ||||||
| Cash from operations | (8,606) | (13,626) | (16,736) | (6,851) | 1,987 | (342) |
| Cash from investing | (1,772) | 1,159 | (2,146) | 973 | (703) | 131 |
| Cash from financing | 10,673 | 12,770 | 19,134 | 5,796 | (1,500) | 608 |
| Particulars | Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 5,005 | 4,938 | 4,745 | 4,674 | 4,545 | 4,465 | 4,266 | 4,144 |
| Revenue growth (YoY) | +10.1% | +10.6% | +11.2% | +12.8% | +13.4% | +15.0% | - | - |
| Other income | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total expenses | 2,087 | 2,075 | 1,997 | 2,058 | 2,017 | 1,942 | 1,858 | 1,809 |
| EBITDA | 2,918 | 2,863 | 2,748 | 2,616 | 2,529 | 2,524 | 2,408 | 2,334 |
| EBITDA margin | +58.3% | +58.0% | +57.9% | +56.0% | +55.6% | +56.5% | +56.5% | +56.3% |
| Depreciation | 57.40 | 54.80 | 54.30 | 51.20 | 52.40 | 51.40 | 53.80 | 48.60 |
| Interest | 1,817 | 1,753 | 1,682 | 1,704 | 1,694 | 1,740 | 1,650 | 1,645 |
| Profit before tax | 1,044 | 1,055 | 1,011 | 860 | 782 | 732 | 704 | 641 |
| Tax | 264 | 270 | 261 | 216 | 201 | 165 | 173 | 168 |
Financial Statements
Figures in ₹ Cr; negatives in brackets. Updated 22 Oct 2026
| Particulars | Mar 2025 | Dec 2024 | Mar 2024 |
|---|---|---|---|
| Revenue | 4,266 | 4,144 | 3,667 |
| Revenue growth (YoY) | +16.3% | - | - |
| Other income | 0.00 | 0.00 | 0.00 |
| EBITDA | 2,408 | 2,334 | 2,299 |
| EBITDA margin | +56.5% | +56.3% | +62.7% |
| Depreciation | 53.80 | 48.60 | 40.40 |
| Interest | 1,650 | 1,645 | 1,377 |
| Profit before tax | 704 | 641 | 882 |
| Tax | 173 | 168 | 226 |
| Net profit | 531 | 472 | 656 |
| EPS (₹) | 6.65 | 5.93 | 8.27 |
| Particulars | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2018-19 | FY 2017-18 |
|---|---|---|---|---|---|
| Revenue | 16,300 | 14,173 | 12,403 | 8,725 | 7,027 |
| Revenue growth | +15.0% | +14.3% | - | +24.2% | - |
| Other income | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total expenses | 6,745 | 5,817 | 6,152 | 3,606 | 3,097 |
| Employee cost | 3,620 | 3,851 | 4,058 | 2,552 | 2,228 |
| EBITDA | 9,556 | 8,357 | 6,251 | 5,119 | 3,930 |
| EBITDA margin | +58.6% | +59.0% | +50.4% | +58.7% | +55.9% |
| Depreciation | 194 | 145 | 112 | 61.92 | 45.31 |
| Interest | 6,433 | 4,907 | 3,512 | 3,333 | 2,449 |
| Profit before tax | 2,928 | 3,305 | 2,627 | 1,724 | 1,436 |
| Tax | 752 | 844 | 668 | 571 | 503 |
| Net profit | 2,176 | 2,460 | 1,959 | 1,154 | 933 |
| Net profit margin | +13.4% | +17.4% | +15.8% | +13.2% | +13.3% |
| EPS (₹) | 27.34 | 31.03 | 24.76 | 14.68 | 11.92 |
| Particulars | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2018-19 | FY 2017-18 |
|---|---|---|---|---|---|
| Equity & liabilities | |||||
| Share capital | 796 | 793 | 791 | 786 | 783 |
| Reserves & surplus | 15,024 | 12,950 | 10,646 | 6,393 | 5,257 |
| Shareholders' funds (net worth) | 15,820 | 13,743 | 11,437 | 7,178 | 6,040 |
| Minority interest | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Secured loans | 78,169 | 67,728 | 51,475 | 38,492 | 30,845 |
| Unsecured loans | 9,229 | 6,603 | 3,390 | 6,613 | 4,908 |
| Total debt | 87,398 | 74,331 | 54,865 | 45,105 | 35,753 |
| Total liabilities | 1,03,218 | 88,073 | 66,302 | 52,364 | 41,885 |
| Assets | |||||
| Gross block | 1,264 | 967 | 790 | 341 | 297 |
| Net block | 735 | 511 | 387 | 123 | 137 |
| Capital work in progress | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Investments | 2,060 | 3,380 | 1,243 | 568 | 402 |
| Inventories | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Sundry debtors | 225 | 125 | 65.76 | 120 | 126 |
| Cash & bank balances | 984 | 703 | 654 | 489 | 137 |
| Loans & advances | 432 | 177 | 317 | 54,856 | 44,348 |
| Total current assets | 1,642 | 1,004 | 1,037 | 55,464 | 44,612 |
| Total current liabilities | 5,446 | 4,483 | 3,748 | 4,176 | 3,561 |
| Net working capital | (3,804) | (3,479) | (2,712) | 51,288 | 41,051 |
| Total assets | 1,03,218 | 88,073 | 66,302 | 52,364 | 41,885 |
| Particulars | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2018-19 | FY 2017-18 |
|---|---|---|---|---|---|
| Opening cash | 648 | 396 | 477 | 61.61 | 70.03 |
| Net cash from operating activities | (13,626) | (16,736) | (6,851) | (8,991) | (8,186) |
| Net cash from investing activities | 1,159 | (2,146) | 973 | (181) | (49.19) |
| Net cash from financing activities | 12,770 | 19,134 | 5,796 | 9,445 | 8,226 |
| Net change in cash | 303 | 252 | (81.30) | 273 | (8.42) |
| Closing cash | 984 | 703 | 654 | 489 | 137 |
| Particulars | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2018-19 | FY 2017-18 |
|---|---|---|---|---|---|
| Growth | |||||
| Sales growth | +15.0% | +14.3% | - | +24.2% | - |
| EBITDA growth | +14.4% | +33.7% | - | +30.3% | - |
| PBT growth | -11.4% | +25.8% | +52.4% | +20.1% | +9997.0% |
| Net income growth | -11.6% | +25.6% | - | +23.6% | - |
| Revenue CAGR (3Y) | +23.2% | +26.4% | - | - | - |
| EBITDA CAGR (3Y) | +23.1% | +28.6% | - | - | - |
| Profitability & leverage | |||||
| Net income margin | +13.4% | +17.4% | +15.8% | +13.2% | +13.3% |
| Return on capital employed | +9.8% | +10.6% | +9.3% | +10.7% | +9.3% |
| Return on net worth | +14.7% | +19.6% | +17.1% | +17.5% | +15.5% |
| Debt / equity | 5.47 | 5.13 | 4.80 | 6.12 | 5.92 |
| Long-term debt / equity | 5.33 | 5.10 | 4.81 | 5.61 | 5.44 |
| Interest cover | 68.72 | 59.76 | 57.20 | 65.91 | 63.04 |
| Efficiency & per share | |||||
| Fixed asset turnover | 14.61 | 16.13 | 15.69 | 27.33 | 23.65 |
| Inventory turnover | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debtors turnover | 93.20 | 148.90 | 188.61 | 70.94 | 55.58 |
| EPS (₹) | 27.34 | 31.03 | 24.76 | 14.68 | 11.92 |
| Dividend per share (₹) | 3.00 | 3.00 | 2.00 | 1.80 | 1.50 |
| Book value per share (₹) | 198.80 | 173.28 | 144.52 | 91.36 | 77.15 |
| Particulars | Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 5,005 | 4,938 | 4,745 | 4,674 | 4,545 | 4,465 | 4,266 | 4,144 |
| Revenue growth (YoY) | +10.1% | +10.6% | +11.2% | +12.8% | +13.4% | +15.0% | - | - |
| Other income | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total expenses | 2,087 | 2,075 | 1,997 | 2,058 | 2,017 | 1,942 | 1,858 | 1,809 |
| EBITDA | 2,918 | 2,863 | 2,748 | 2,616 | 2,529 | 2,524 | 2,408 | 2,334 |
| EBITDA margin | +58.3% | +58.0% | +57.9% | +56.0% | +55.6% | +56.5% | +56.5% | +56.3% |
| Depreciation | 57.40 | 54.80 | 54.30 | 51.20 | 52.40 | 51.40 | 53.80 | 48.60 |
| Interest | 1,817 | 1,753 | 1,682 | 1,704 | 1,694 | 1,740 | 1,650 | 1,645 |
| Profit before tax | 1,044 | 1,055 | 1,011 | 860 | 782 | 732 | 704 | 641 |
| Tax | 264 | 270 | 261 | 216 | 201 | 165 | 173 | 168 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|---|
| Revenue | 18,431 | 16,300 | 14,173 | 12,403 | 11,312 | 10,945 |
| Revenue growth | +13.1% | +15.0% | +14.3% | +9.7% | +3.4% | - |
| Other income | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total expenses | 7,979 | 6,745 | 5,817 | 6,152 | 6,540 | 6,453 |
| Employee cost | 3,914 | 3,620 | 3,851 | 4,058 | 3,500 | 2,956 |
| EBITDA | 10,452 | 9,556 | 8,357 | 6,251 | 4,772 | 4,491 |
| EBITDA margin | +56.7% | +58.6% | +59.0% | +50.4% | +42.2% | +41.0% |
| Depreciation | 209 | 194 | 145 | 112 | 98.94 | 108 |
| Interest | 6,856 | 6,433 | 4,907 | 3,512 | 3,326 | 3,883 |
| Profit before tax | 3,386 | 2,928 | 3,305 | 2,627 | 1,348 | 501 |
| Tax | 842 | 752 | 844 | 668 | 336 | 109 |
| Net profit | 2,543 | 2,176 | 2,460 | 1,959 | 1,011 | 392 |
| Net profit margin | +13.8% | +13.4% | +17.4% | +15.8% | +8.9% | +3.6% |
| EPS (₹) | 30.64 | 27.34 | 31.03 | 24.76 | 12.80 | 4.96 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|---|
| Equity & liabilities | ||||||
| Share capital | 830 | 796 | 793 | 791 | 790 | 789 |
| Reserves & surplus | 19,834 | 15,024 | 12,950 | 10,646 | 8,749 | 7,657 |
| Shareholders' funds (net worth) | 20,664 | 15,820 | 13,743 | 11,437 | 9,540 | 8,446 |
| Secured loans | 88,603 | 78,169 | 67,728 | 51,475 | 44,872 | 45,925 |
| Unsecured loans | 10,627 | 11,514 | 6,603 | 3,390 | 4,101 | 4,433 |
| Total debt | 99,230 | 89,682 | 74,331 | 54,865 | 48,973 | 50,359 |
| Total liabilities | 1,19,894 | 1,05,502 | 88,073 | 66,302 | 58,513 | 58,805 |
| Assets | ||||||
| Gross block | 1,388 | 1,264 | 967 | 790 | 660 | 642 |
| Net block | 773 | 735 | 511 | 387 | 293 | 317 |
| Capital work in progress | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Investments | 3,748 | 2,060 | 3,380 | 1,243 | 2,234 | 1,593 |
| Inventories | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Sundry debtors | 296 | 225 | 125 | 65.76 | 142 | 117 |
| Cash & bank balances | 1,674 | 984 | 703 | 654 | 684 | 976 |
| Loans & advances | 1,528 | 432 | 177 | 317 | 460 | 306 |
| Total current assets | 3,498 | 1,642 | 1,004 | 1,037 | 1,286 | 1,400 |
| Total current liabilities | 3,757 | 3,161 | 4,483 | 3,748 | 3,513 | 3,836 |
| Net working capital | (260) | (1,519) | (3,479) | (2,712) | (2,227) | (2,436) |
| Total assets | 1,19,894 | 1,05,502 | 88,073 | 66,302 | 58,513 | 58,805 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|---|
| Opening cash | 950 | 648 | 396 | 477 | 693 | 356 |
| Net cash from operating activities | (8,606) | (13,626) | (16,736) | (6,851) | 1,987 | (342) |
| Net cash from investing activities | (1,772) | 1,159 | (2,146) | 973 | (703) | 131 |
| Net cash from financing activities | 10,673 | 12,770 | 19,134 | 5,796 | (1,500) | 608 |
| Net change in cash | 296 | 303 | 252 | (81.30) | (216) | 398 |
| Closing cash | 1,674 | 984 | 703 | 654 | 684 | 976 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|---|
| Growth | ||||||
| Sales growth | +13.1% | +15.0% | +14.3% | +9.7% | +3.4% | - |
| EBITDA growth | +9.4% | +14.4% | +33.7% | +31.0% | +6.3% | - |
| PBT growth | +15.7% | -11.4% | +25.8% | +95.0% | +169.1% | +9997.0% |
| Net income growth | +16.9% | -11.6% | +25.6% | +93.7% | +158.2% | - |
| Revenue CAGR (3Y) | +14.1% | +13.0% | +9.0% | - | - | - |
| EBITDA CAGR (3Y) | +18.7% | +26.0% | +23.0% | - | - | - |
| Profitability & leverage | ||||||
| Net income margin | +13.8% | +13.4% | +17.4% | +15.8% | +8.9% | +3.6% |
| Return on capital employed | +9.2% | +9.8% | +10.6% | +9.8% | +8.0% | +7.5% |
| Return on net worth | +13.9% | +14.7% | +19.6% | +18.7% | +11.3% | +4.8% |
| Debt / equity | 5.12 | 5.47 | 5.13 | 4.95 | 5.52 | 6.08 |
| Long-term debt / equity | 4.96 | 5.31 | 5.08 | 4.95 | 5.50 | 5.97 |
| Interest cover | 66.94 | 68.72 | 59.76 | 57.20 | 71.16 | 88.58 |
| Efficiency & per share | ||||||
| Fixed asset turnover | 13.90 | 14.61 | 16.13 | 17.10 | 17.38 | 16.77 |
| Inventory turnover | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debtors turnover | 70.74 | 93.20 | 148.90 | 119.50 | 87.30 | 73.33 |
| EPS (₹) | 30.64 | 27.34 | 31.03 | 24.76 | 12.80 | 4.96 |
| Dividend per share (₹) | 4.00 | 3.00 | 3.00 | 2.00 | 1.00 | 0.00 |
| Book value per share (₹) | 248.87 | 198.80 | 173.28 | 144.52 | 120.69 | 107.02 |
To see the full year-wise statements and ratios of HDB Financial Services Limited, buy the company report.
Board of directors of HDB Financial Services Limited
HDB Financial Services has 8 current directors and 21 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Arundhati Mech Also directs: Afcom Holdings Limited, Shivalik Small Finance Bank Limited | Director | 11 Feb 2022 | 4 Years 8 Months | Current |
| Ramesh Ganesan | Managing Director | 01 Jul 2012 | 14 Years 3 Months | Current |
| Amla Ashim Samanta | Director | 01 May 2019 | 7 Years 5 Months | Current |
| Adayapalam Kumaraswamy Viswanathan | Director | 24 Jul 2019 | 7 Years 2 Months | Current |
| Jayant Purushottam Gokhale Also directs: Franklin Templeton Trustee Services Private Limited | Director | 16 Sep 2024 | 2 Years 1 Months | Current |
| Bhaskar Sharma Also directs: Polycab India Limited, Ebg Federation | Director | 16 Sep 2024 | 2 Years 1 Months | Current |
Showing 6 of 8 current directors. View all directors
Peer comparison
HDB Financial Services Limited is compared with the 9 companies closest to it by revenue in the BFSI industry (Large NBFC, NBFC Investment and Credit Companies, Systemically Important Non Deposit NBFC), with the same principal business activity (other financial activities), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Reliance Capital Ltd | ₹24,444 Cr (FY 2024) | 27.0% | Mumbai, Maharashtra, India | |||
| Muthoot Finance Limited | ₹20,324 Cr (FY 2025) | 34.0% | Ernakulam, Kerala, India | |||
| Infrastructure Leasing and Financial Services Limited | ₹18,799 Cr (FY 2018) | 10.0% | Mumbai, Maharashtra, India | |||
| HDB Financial Services Limitedthis company | ₹18,431 Cr (FY 2026) | ₹2,543.11 Cr | 13.8% | 13.1% | Ahmedabad, Gujarat, India | |
| GMR Enterprises Private Limited | ₹17,475 Cr (FY 2019) | 13.0% | Royapettah, Tamil Nadu, India | |||
| L&T Finance Limited | ₹15,941 Cr (FY 2025) | 13.0% | Mumbai, Maharashtra, India | |||
| L&T Finance Limited | ₹15,941 Cr (FY 2025) | 13.0% | Kolkata, West Bengal, India | |||
| Aditya Birla Finance Limited | ₹12,764 Cr (FY 2024) | 54.0% | Veraval, Gujarat, India | |||
| Bengal & Assam Company Limited | ₹12,588 Cr (FY 2019) | 715.0% | Kolkata, West Bengal, India | |||
| Cholamandalam Financial Holdings Limited | ₹10,947 Cr (FY 2019) | 23.0% | Chennai, Tamil Nadu, India |
To see the full peer comparison of HDB Financial Services Limited, buy the company report.
Charges & borrowings
Open charges
₹1,42,982 Cr
Satisfied charges
₹1,11,593 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 28 Sep 2026 | 101401481 | Others | ₹1,000 Cr | Open | |
| 29 Aug 2026 | 101372673 | Idbi Trusteeship Services Limited | ₹33.06 Cr | Open | |
| 25 Jun 2026 | 101316588 | Bank of India | ₹1,000 Cr | Open | |
| 25 Jun 2026 | 101336364 | Idbi Trusteeship Services Limited | ₹5,500 Cr | Open | |
| 24 Jun 2026 | 101334637 | Others | ₹1,000 Cr | Open |
To see the full charge records of HDB Financial Services Limited, buy the company report.
Total charge records: 233 View all charges
Deals & funding
HDB Financial Services Limited has 17 deals on record (9 debt financings, 4 rights issues, 3 funding rounds), with disclosed funding of ₹29,837 Cr; the latest was in June 2025.
Total deals
17
Debt financings
9
Rights issues
4
Funding rounds
3
IPO
1
Disclosed funding
₹29,837 Cr
Deals on record (5 of 17)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Jun 2025 | IPO | ₹12,500 Cr | Investors: Life Insurance Corporation of India, Goldman Sachs Public Market Fund, Icici Prudential Life Insurance Company Limited Seller: HDFC Bank Limited |
| Feb 2025 | Debt financing | ₹1,500 Cr | Investors: Icici Bank, Axis Bank Limited , Bajaj Life Insurance Limited |
| Oct 2024 | Debt financing | ₹2,442 Cr | Investors: State Bank Of India, Icici Bank, Wipro Limited |
| Aug 2024 | Debt financing | ₹200 Cr | Investors: Axis Bank Limited |
| Jan 2023 | Debt financing | ₹18,626 Cr | Investors: Yes Bank Limited , A K Capital Services Limited , Kotak Corporate Bond Fund, an individual |
To see the full deal history of HDB Financial Services Limited, buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
HDB Financial Services Limited has 1,69,844 court cases on record: 1,65,602 filed by HDB Financial Services, 4,254 filed against it. 93,222 cases are pending and 76,622 are disposed.
Total cases
1,69,844
Filed by the company
1,65,602
Filed against the company
4,254
Pending
93,222
Disposed
76,622
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 1,66,408 | 2,986 | 92,783 |
| High courts | 3,400 | 1,246 | 427 |
| Supreme Court | 14 | 12 | 1 |
| NCLAT | 13 | 3 | 9 |
| NCLT | 9 | 7 | 2 |
Cases on record (5 of 1,69,844)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, North, Delhi | Court case (OMP (COMM.)) | Filed against the company by NKG Infrastructure Ltd. | Pending |
| High Court of Rajasthan | Court case (CMCC) | Filed by the company against Rajasthan State Industrial Development and Investment Corporation Ltd. | Pending |
| High Court of Rajasthan | Court case (CSTAY) | Filed by the company against Rajasthan State Industrial Development and Investment Corporation Ltd. | Pending |
| High Court of Rajasthan | Appeal | Filed by the company against Rajasthan State Industrial Development and Investment Corporation Ltd. and 1 other | Pending |
| High Court of Rajasthan | Interim or miscellaneous application | Filed by the company against Ms Rao IIT Academy | Pending |
To see the full case history of HDB Financial Services Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
Credit ratings & regulatory alerts
HDB Financial Services Limited was last rated by Care on 09 Apr 2026.
| Rating agency | Rated on | Rating |
|---|---|---|
| Care | 09 Apr 2026 |
To see the full credit ratings and regulatory alerts of HDB Financial Services Limited, buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for HDB Financial Services Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
GST
HDB Financial Services has 37 GST registrations: 32 active and 5 cancelled or inactive. The first 4 active GSTINs are listed below.
Total GSTINs
37
Active
32
Cancelled / inactive
5
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 24AABCH8761M1Z7 | Gujarat | Active | 01 Jul 2017 |
| 02AABCH8761M1ZD | Himachal Pradesh | Active | 01 Jul 2017 |
| 03AABCH8761M1ZB | Punjab | Active | 01 Jul 2017 |
| 04AABCH8761M1Z9 | Chandigarh | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of HDB Financial Services Limited, buy the company report.
Recent activity
HDB Financial Services Limited has 30 board changes on record since 2008: 10 appointments and 20 cessations. The latest: Natarajan Srinivasan was appointed as Director on 14 May 2026.
Charges
A charge with Others amounted to Rs. 1,000.00 Cr with Charge ID 101401481 was registered on 28 Sep 2026.
Charges
A charge registered on 16 Mar 2023 via Charge ID 100731251 with Idbi Trusteeship Services Limited was fully satisfied on 16 Sep 2026.
Charges
A charge with Others of Rs. 2,828.74 Cr registered on 31 Mar 2022 with Charge ID 100555409 was modified on 07 Sep 2026.
Charges
A charge with Idbi Trusteeship Services Limited amounted to Rs. 33.06 Cr with Charge ID 101372673 was registered on 29 Aug 2026.
AGM
Hdb Financial Services Limited last Annual general meeting of members was held on 26 Jun 2026 as per latest MCA records.
Charges
A charge with Bank Of India amounted to Rs. 1,000.00 Cr with Charge ID 101316588 was registered on 25 Jun 2026.
Charges
A charge with Idbi Trusteeship Services Limited amounted to Rs. 5,500.00 Cr with Charge ID 101336364 was registered on 25 Jun 2026.
Charges
A charge with Others amounted to Rs. 1,000.00 Cr with Charge ID 101334637 was registered on 24 Jun 2026.
Charges
A charge registered on 24 Jan 2023 via Charge ID 100668780 with Idbi Bank Limited was fully satisfied on 19 Jun 2026.
Charges
A charge with Others of Rs. 3,000.00 Cr registered on 21 Mar 2025 with Charge ID 101076272 was modified on 29 May 2026.
Charges
A charge with Idbi Trusteeship Services Limited amounted to Rs. 3,000.00 Cr with Charge ID 101305808 was registered on 26 May 2026.
Appointed
Natarajan Srinivasan was appointed as Director.
441 earlier events are in the company report.
News
HDB Financial Services: Releases Q2 FY27 Earnings Call Transcript; Disbursements Rise 18% Year-over-Year; Profit After Tax Jumps 34% Year-over-Year; Bright Outlook for H2 Thanks to Festive Demand.
HDB Financial Services: Expects To Keep Net Interest Margin Around 8.2% In The Short Term And Over 8% In The Long Term, With Minimal Effects From Recent Repo Rate Hike. Management Projects Overall Growth In Disbursements, Forecasting Q3 To Outperform Q2 And Q4 To Surpass Q3, Aiming For 17-18% Growth In FY28.
HDB Financial Services: Targets Annualized ROA Over 2.5% And Credit Costs Around 2.3%. Management Expects Slight Improvement In Cost To Income Ratio From Tech Investments And A Recovery In Used Asset Finance By Q3-Q4.
HDB Financial Services: Expects Fee Income Impact Of INR455 Crore, About 0.3% On ROA, With Plans To Address It As Regulations Develop.
HDBFS: Q2 REVENUE 50B RUPEES VS 45.45B (YOY)
HDBFS: Q2 SL NET PROFIT 7.8B RUPEES VS 5.81B (YOY); EST 8.13B
Frequently asked questions
HDB Financial Services is an active public limited company based in Ahmedabad, Gujarat, India. The company works in investment and credit nbfc, within the financial services industry. It was incorporated on 04 June 2007 (19+ years old) and is registered under CIN L65993GJ2007PLC051028. Listed on BSE: 544429 and NSE: HDBFS.
HDB Financial Services reported revenue of ₹18,431 Cr for FY 2025-26 (up 13.1% YoY) based on standalone financials.
HDB Financial Services has 8 current directors:
- Ramesh Ganesan - Managing Director
- Arundhati Mech - Director
- Amla Ashim Samanta - Director
- Adayapalam Kumaraswamy Viswanathan - Director
- Jayant Purushottam Gokhale - Director
- Bhaskar Sharma - Director
- Jayesh Rajagopalan Chakravarthi - Director
- Natarajan Srinivasan - Director
The latest financial statements of HDB Financial Services on record with the MCA are for the year ended 31 March 2026. Its last annual general meeting was held on 26 June 2026. Year-wise statements from 2015 are in the company report.
The GSTIN of HDB Financial Services is 24AABCH8761M1Z7, registered in Gujarat. The company has 37 GST registrations in all, of which 32 are active and 5 are cancelled or inactive. Other active GSTINs include 02AABCH8761M1ZD (Himachal Pradesh), 03AABCH8761M1ZB (Punjab), 04AABCH8761M1Z9 (Chandigarh).
The CIN (Corporate Identification Number) of HDB Financial Services is L65993GJ2007PLC051028. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Yes. HDB Financial Services is listed on both BSE (code: 544429) and NSE (symbol: HDBFS).
HDB Financial Services has 1,69,844 court cases on record: 1,65,602 filed by the company and 4,254 filed against it. 93,222 are pending. Most are in the district courts.
HDB Financial Services was incorporated on 04 June 2007, making it 19+ years old. It is registered with the Registrar of Companies, Ahmedabad.
HDB Financial Services has 17 deals on record (9 debt financings, 4 rights issues, 3 funding rounds), with disclosed funding of ₹29,837 Cr; the latest was in June 2025.
The peers of HDB Financial Services by revenue are Reliance Capital Ltd, Muthoot Finance Limited, Infrastructure Leasing and Financial Services Limited, GMR Enterprises Private Limited, L&T Finance Limited and 4 more, all in the BFSI industry (Large NBFC, NBFC Investment and Credit Companies, Systemically Important Non Deposit NBFC), with the same principal business activity (other financial activities).