| Quarter | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 3,516 | 3,602 | 3,667 | 3,884 | 4,007 | 4,144 | 4,266 | 4,465 | 4,545 | 4,674 | 4,745 | 4,938 | |
Growth YoY Revenue Growth YoY% | 15.3 | 14.2 | 13.9 | 14.7 | 14.0 | 15.0 | 16.3 | 15.0 | 13.4 | 12.8 | 11.2 | 10.6 |
Interest Expended Interest ExpendedCr | 1,159 | 1,256 | 1,377 | 1,496 | 1,599 | 1,645 | 1,651 | 1,740 | 1,694 | 1,704 | 1,683 | 1,753 |
Expenses ExpensesCr | 1,514 | 1,453 | 1,368 | 1,560 | 1,561 | 1,809 | 1,858 | 1,942 | 2,017 | 2,058 | 1,997 | 2,075 |
| 842 | 894 | 922 | 828 | 847 | 689 | 758 | 784 | 835 | 912 | 1,066 | 1,110 | |
FPM FPM% | 24.0 | 24.8 | 25.1 | 21.3 | 21.1 | 16.6 | 17.8 | 17.6 | 18.4 | 19.5 | 22.4 | 22.5 |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
Depreciation DepreciationCr | 35 | 38 | 40 | 44 | 48 | 49 | 54 | 51 | 52 | 51 | 54 | 55 |
PBT PBTCr | 807 | 856 | 882 | 784 | 799 | 641 | 704 | 733 | 782 | 860 | 1,011 | 1,055 |
| 206 | 219 | 226 | 202 | 208 | 169 | 173 | 165 | 201 | 216 | 261 | 270 | |
| 601 | 637 | 656 | 582 | 591 | 472 | 531 | 568 | 581 | 644 | 751 | 785 | |
Growth YoY PAT Growth YoY% | 27.5 | 27.0 | 20.3 | 2.6 | -1.6 | -25.8 | -19.1 | -2.4 | -1.6 | 36.3 | 41.4 | 38.3 |
NPM NPM% | 17.1 | 17.7 | 17.9 | 15.0 | 14.8 | 11.4 | 12.4 | 12.7 | 12.8 | 13.8 | 15.8 | 15.9 |
| 7.6 | 8.0 | 8.3 | 7.3 | 7.5 | 6.0 | 6.7 | 7.1 | 7.0 | 7.8 | 9.0 | 9.5 |
| Quarter | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 3,516 | 3,602 | 3,667 | 3,884 | 4,007 | 4,144 | 4,266 | 4,465 | 4,545 | 4,674 | 4,745 | 4,938 | |
Growth YoY Revenue Growth YoY% | 15.3 | 14.2 | 13.9 | 14.7 | 14.0 | 15.0 | 16.3 | 15.0 | 13.4 | 12.8 | 11.2 | 10.6 |
Interest Expended Interest ExpendedCr | 1,159 | 1,256 | 1,377 | 1,496 | 1,599 | 1,645 | 1,651 | 1,740 | 1,694 | 1,704 | 1,683 | 1,753 |
Expenses ExpensesCr | 1,514 | 1,453 | 1,368 | 1,560 | 1,561 | 1,809 | 1,858 | 1,942 | 2,017 | 2,058 | 1,997 | 2,075 |
| 842 | 894 | 922 | 828 | 847 | 689 | 758 | 784 | 835 | 912 | 1,066 | 1,110 | |
FPM FPM% | 24.0 | 24.8 | 25.1 | 21.3 | 21.1 | 16.6 | 17.8 | 17.6 | 18.4 | 19.5 | 22.4 | 22.5 |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
Depreciation DepreciationCr | 35 | 38 | 40 | 44 | 48 | 49 | 54 | 51 | 52 | 51 | 54 | 55 |
PBT PBTCr | 807 | 856 | 882 | 784 | 799 | 641 | 704 | 733 | 782 | 860 | 1,011 | 1,055 |
| 206 | 219 | 226 | 202 | 208 | 169 | 173 | 165 | 201 | 216 | 261 | 270 | |
| 601 | 637 | 656 | 582 | 591 | 472 | 531 | 568 | 581 | 644 | 751 | 785 | |
Growth YoY PAT Growth YoY% | 27.5 | 27.0 | 20.3 | 2.6 | -1.6 | -25.8 | -19.1 | -2.4 | -1.6 | 36.3 | 41.4 | 38.3 |
NPM NPM% | 17.1 | 17.7 | 17.9 | 15.0 | 14.8 | 11.4 | 12.4 | 12.7 | 12.8 | 13.8 | 15.8 | 15.9 |
| 7.6 | 8.0 | 8.3 | 7.3 | 7.5 | 6.0 | 6.7 | 7.1 | 7.0 | 7.8 | 9.0 | 9.5 |
| Financial Year | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue RevenueCr | 3,016 | 5,711 | 7,060 | 8,725 | 10,757 | 10,945 | 11,312 | 12,403 | 14,173 | 16,300 | 18,431 | 18,902 |
Growth Revenue Growth% | 89.4 | 23.6 | 23.6 | 23.3 | 1.8 | 3.4 | 9.7 | 14.3 | 15.0 | 13.1 | 12.0 | |
Interest Expended Interest ExpendedCr | 1,572 | 2,050 | 2,357 | 3,333 | 4,081 | 3,883 | 3,326 | 3,512 | 4,864 | 6,390 | 6,820 | 6,834 |
Expenses ExpensesCr | 913 | 2,567 | 3,195 | 3,606 | 5,101 | 6,453 | 6,540 | 6,152 | 5,859 | 6,788 | 8,015 | 8,147 |
| 532 | 1,094 | 1,508 | 1,786 | 1,574 | 609 | 1,447 | 2,739 | 3,450 | 3,122 | 3,596 | 3,922 | |
FPM FPM% | 17.6 | 19.2 | 21.4 | 20.5 | 14.6 | 5.6 | 12.8 | 22.1 | 24.3 | 19.2 | 19.5 | 20.7 |
| 286 | 3 | 2 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
Depreciation DepreciationCr | 0 | 39 | 45 | 62 | 110 | 108 | 99 | 112 | 145 | 194 | 209 | 213 |
PBT PBTCr | 818 | 1,059 | 1,465 | 1,724 | 1,465 | 501 | 1,348 | 2,627 | 3,305 | 2,928 | 3,386 | 3,709 |
| 283 | 374 | 513 | 571 | 460 | 109 | 336 | 668 | 844 | 752 | 842 | 948 | |
PAT PATCr | 534 | 684 | 952 | 1,153 | 1,005 | 392 | 1,011 | 1,959 | 2,461 | 2,176 | 2,544 | 2,761 |
Growth PAT Growth% | 28.0 | 39.1 | 21.2 | -12.9 | -61.0 | 158.3 | 93.7 | 25.6 | -11.6 | 16.9 | 27.7 | |
NPM NPM% | 17.7 | 12.0 | 13.5 | 13.2 | 9.3 | 3.6 | 8.9 | 15.8 | 17.4 | 13.3 | 13.8 | 14.6 |
| 12.8 | 24.8 | 31.1 | 27.4 | 31.0 | 33.3 |
| Financial Year | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue RevenueCr | 3,016 | 5,711 | 7,060 | 8,725 | 10,757 | 10,945 | 11,312 | 12,403 | 14,173 | 16,300 | 18,431 | 18,902 |
Growth Revenue Growth% | 89.4 | 23.6 | 23.6 | 23.3 | 1.8 | 3.4 | 9.7 | 14.3 | 15.0 | 13.1 | 12.0 | |
Interest Expended Interest ExpendedCr | 1,572 | 2,050 | 2,357 | 3,333 | 4,081 | 3,883 | 3,326 | 3,512 | 4,864 | 6,390 | 6,820 | 6,834 |
Expenses ExpensesCr | 913 | 2,567 | 3,195 | 3,606 | 5,101 | 6,453 | 6,540 | 6,152 | 5,859 | 6,788 | 8,015 | 8,147 |
| 532 | 1,094 | 1,508 | 1,786 | 1,574 | 609 | 1,447 | 2,739 | 3,450 | 3,122 | 3,596 | 3,922 | |
FPM FPM% | 17.6 | 19.2 | 21.4 | 20.5 | 14.6 | 5.6 | 12.8 | 22.1 | 24.3 | 19.2 | 19.5 | 20.7 |
| 286 | 3 | 2 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
Depreciation DepreciationCr | 0 | 39 | 45 | 62 | 110 | 108 | 99 | 112 | 145 | 194 | 209 | 213 |
PBT PBTCr | 818 | 1,059 | 1,465 | 1,724 | 1,465 | 501 | 1,348 | 2,627 | 3,305 | 2,928 | 3,386 | 3,709 |
| 283 | 374 | 513 | 571 | 460 | 109 | 336 | 668 | 844 | 752 | 842 | 948 | |
PAT PATCr | 534 | 684 | 952 | 1,153 | 1,005 | 392 | 1,011 | 1,959 | 2,461 | 2,176 | 2,544 | 2,761 |
Growth PAT Growth% | 28.0 | 39.1 | 21.2 | -12.9 | -61.0 | 158.3 | 93.7 | 25.6 | -11.6 | 16.9 | 27.7 | |
NPM NPM% | 17.7 | 12.0 | 13.5 | 13.2 | 9.3 | 3.6 | 8.9 | 15.8 | 17.4 | 13.3 | 13.8 | 14.6 |
| 12.8 | 24.8 | 31.1 | 27.4 | 31.0 | 33.3 |
| Financial Year | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
Equity Capital Equity CapitalCr | 790 | 791 | 793 | 796 | 830 |
Reserves ReservesCr | 8,749 | 10,646 | 12,950 | 15,024 | 19,834 |
Borrowings BorrowingsCr | 48,973 | 54,865 | 74,331 | 87,398 | 99,230 |
Other Liabilities Other LiabilitiesCr | 3,513 | 3,748 | 4,483 | 5,446 | 3,757 |
Total Liabilities Total LiabilitiesCr | 62,026 | 70,050 | 92,557 | 1,08,663 | 1,23,651 |
| 735 | 774 | ||||
Cash Equivalents Cash EquivalentsCr | 684 | 654 | 703 | 984 | 1,674 |
Other Assets Other AssetsCr | 61,342 | 69,397 | 91,854 | 1,06,944 | 1,21,204 |
Total Assets Total AssetsCr | 62,026 | 70,050 | 92,557 | 1,08,663 | 1,23,651 |
| Financial Year | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
Equity Capital Equity CapitalCr | 790 | 791 | 793 | 796 | 830 |
Reserves ReservesCr | 8,749 | 10,646 | 12,950 | 15,024 | 19,834 |
Borrowings BorrowingsCr | 48,973 | 54,865 | 74,331 | 87,398 | 99,230 |
Other Liabilities Other LiabilitiesCr | 3,513 | 3,748 | 4,483 | 5,446 | 3,757 |
Total Liabilities Total LiabilitiesCr | 62,026 | 70,050 | 92,557 | 1,08,663 | 1,23,651 |
| 735 | 774 | ||||
Cash Equivalents Cash EquivalentsCr | 684 | 654 | 703 | 984 | 1,674 |
Other Assets Other AssetsCr | 61,342 | 69,397 | 91,854 | 1,06,944 | 1,21,204 |
Total Assets Total AssetsCr | 62,026 | 70,050 | 92,557 | 1,08,663 | 1,23,651 |
| Financial Year | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| -8,991 | -3,032 | -404 | 1,987 | -6,851 | -16,736 | -13,626 | -8,606 | |
| -181 | -1,204 | 132 | -703 | 973 | -2,146 | 1,159 | -1,772 | |
| 9,445 | 4,257 | 670 | -1,500 | 5,796 | 19,134 | 12,770 | 10,673 | |
Net Cash Flow Net Cash FlowCr | 273 | 21 | 398 | -216 | -81 | 252 | 303 | 296 |
Free Cash Flow Free Cash FlowCr | 1,947 | -6,960 | -16,858 | -13,834 | -8,747 | |||
CFO To EBITDA CFO To EBITDA% | -503.4 | -192.6 | -66.3 | 137.4 | -250.1 | -485.1 | -436.4 | -239.3 |
| Financial Year | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| -8,991 | -3,032 | -404 | 1,987 | -6,851 | -16,736 | -13,626 | -8,606 | |
| -181 | -1,204 | 132 | -703 | 973 | -2,146 | 1,159 | -1,772 | |
| 9,445 | 4,257 | 670 | -1,500 | 5,796 | 19,134 | 12,770 | 10,673 | |
Net Cash Flow Net Cash FlowCr | 273 | 21 | 398 | -216 | -81 | 252 | 303 | 296 |
Free Cash Flow Free Cash FlowCr | 1,947 | -6,960 | -16,858 | -13,834 | -8,747 | |||
CFO To EBITDA CFO To EBITDA% | -503.4 | -192.6 | -66.3 | 137.4 | -250.1 | -485.1 | -436.4 | -239.3 |
| Financial Year | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Market Cap Market CapitalizationCr | 46,502 | 56,180 | ||||||||||
Price To Earnings Price To Earnings | 18.3 | 20.3 | ||||||||||
Price To Sales Price To Sales | 2.5 | 3.0 | ||||||||||
Price To Book Price To Book | 2.3 | 2.7 | ||||||||||
EV To EBITDA EV To EBITDA | 40.1 | 39.7 | ||||||||||
FPM FPM% | 17.6 | 19.2 | 21.4 | 20.5 | 14.6 | 5.6 | 12.8 | 22.1 | 24.3 | 19.1 | 19.5 | 20.8 |
NPM NPM% | 17.7 | 12.0 | 13.5 | 13.2 | 9.3 | 3.6 | 8.9 | 15.8 | 17.4 | 13.3 | 13.8 | 14.6 |
ROCE ROCE% | 8.0 | 9.3 | 9.3 | 9.0 | 8.5 | 8.5 | ||||||
ROE ROE% | 10.6 | 17.1 | 17.9 | 13.8 | 12.3 | 12.3 | ||||||
ROA ROA% | 1.6 | 2.8 | 2.7 | 2.0 | 2.1 | 2.1 | ||||||
| Financial Year | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Market Cap Market CapitalizationCr | 46,502 | 56,180 | ||||||||||
Price To Earnings Price To Earnings | 18.3 | 20.3 | ||||||||||
Price To Sales Price To Sales | 2.5 | 3.0 | ||||||||||
Price To Book Price To Book | 2.3 | 2.7 | ||||||||||
EV To EBITDA EV To EBITDA | 40.1 | 39.7 | ||||||||||
FPM FPM% | 17.6 | 19.2 | 21.4 | 20.5 | 14.6 | 5.6 | 12.8 | 22.1 | 24.3 | 19.1 | 19.5 | 20.8 |
NPM NPM% | 17.7 | 12.0 | 13.5 | 13.2 | 9.3 | 3.6 | 8.9 | 15.8 | 17.4 | 13.3 | 13.8 | 14.6 |
ROCE ROCE% | 8.0 | 9.3 | 9.3 | 9.0 | 8.5 | 8.5 | ||||||
ROE ROE% | 10.6 | 17.1 | 17.9 | 13.8 | 12.3 | 12.3 | ||||||
ROA ROA% | 1.6 | 2.8 | 2.7 | 2.0 | 2.1 | 2.1 | ||||||
Documents — HDB Financial Services Ltd
Concall Transcript Summaries — HDB Financial Services Ltd