āagman

Not investment advice. Data and computed figures, for information only.

HDFC Bank Ltd

NSE: HDFCBANKF&O
₹726.85
+₹16.15 (+2.27%)
NSE · 15 Oct 2026, close
NSE
As of 31 Mar 2026
Market Cap
₹10,90,480 Cr
CMP
₹726.85
52-wk High / Low
₹1,021 / 682
P/E
13.8
P/B
1.8
Book Value
₹390.0
Div Yield
1.84%
ROCE
7.0%
ROE
14.0%
Face Value
₹1
D/E
6.29

Price−25.9% over 1Y

āagman read

Computed by āagman
Derived from 12 years and 15 quarters of filings. Not reported by the company.
As of 15 Oct 2026
How we compute these
Piotroski F-Score
4
/ 9
4 of 9 F-score tests passed
Graham Number
₹658
√(22.5 × EPS × book value per share)
Cash flow to profit
1.43
CFO / PAT
Above 1.0 = operating cash flow exceeded reported profit
Sustainable growth
10.4%
ROE × earnings retention ratio
ROE stability
0.9
pp σ
Standard deviation of ROE across periods. Lower = more stable
Holder deltas
QoQ
pp
Prom +0.00FII −4.66DII +3.30
Latest quarter vs the previous one
Cash-accrual divergence
−0.7%
of assets
Low = accruals track cash flow
Strengths
+Annualised volatility of 22.1% is in the low band (≤25%)
+FII holding rose by 7.1pp over the last year
+PE of 13.8x is below the sector median of 20.4x
Watch-outs
−Latest ROCE of 7.0% trails the sector median of 9.4%
−Borrowings are up 467.4% since FY2016 (103714 to 588485)
−Price trades below its 200-day moving average (0.9x)
−Promoter holding fell by 25.6pp over the last year

Peer comparison

Peers
NameP/EMar Cap ₹ CrROCE %ROE %

Quarterly results

Consolidated basis (as filed) · ₹ Cr · 13 quarters
As of 30 Jun 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales51,16875,03978,00879,43481,54683,00285,04086,77987,37286,99487,06787,18290,575
Expenses18,47045,34950,53062,93849,69052,07441,30747,70964,49745,16154,14544,02858,292
Operating Profit—————————————
OPM %—————————————
Other Income9,85332,52837,00744,95835,45038,45527,15433,48945,68331,56739,86029,73742,535
Interest25,95541,25043,24243,69244,58045,41446,91446,98647,70946,74145,82145,22047,626
Depreciation0000000000000
Profit before tax16,59720,96721,24317,76122,72723,96823,97325,57320,85026,65926,96127,67227,193
Net Profit12,40317,31217,71818,01317,18818,62718,34019,28517,09020,36420,69121,07420,383
EPS (₹)11.0611.0911.3711.6010.8311.6811.5412.3110.6012.7612.8713.2212.50

Profit & Loss

As of 30 Jun 2026
Consolidated · ₹ Cr · 12 years + TTM
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales50,66663,16273,27185,2881,05,1611,22,1891,28,5521,35,9361,70,7542,83,6493,36,3673,48,6153,51,819
Expenses16,16420,05523,85629,53234,85645,45952,45756,55763,0421,74,1961,86,9742,03,6352,01,625
Operating Profit—————————————
OPM %—————————————
Other Income9,54611,21212,90516,05718,94724,87927,33331,75933,9121,24,3461,34,5481,46,8481,43,700
Interest27,28834,07038,04242,38153,71362,13759,24858,58477,7801,54,1391,83,8941,85,4911,85,408
Depreciation6807388869671,2211,2771,3851,6812,3453,0923,8054,1950
Profit before tax16,07919,51123,39328,46434,31838,19542,79650,87361,49876,56996,2421,02,1411,08,485
Net Profit10,70312,82115,31718,56122,44627,29631,85738,15146,14965,44673,44079,21982,512
EPS (₹)10.6612.6614.9117.8320.5024.8528.8734.3141.2242.1646.2649.3951.35

Balance Sheet

As of 30 Jun 2026
Consolidated · ₹ Cr
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Jun 2026
Equity Capital5015065135195455485515555587607651,539—
Reserves62,65373,79891,2811,09,0801,53,1281,75,8102,09,2592,46,7722,88,8804,55,6365,21,0245,84,520—
Other Liabilities34,18138,32159,00048,77058,89871,43078,27990,6391,01,7834,66,2965,24,8176,33,519—
Total Liabilities6,07,0977,62,2128,92,34411,03,18612,92,80615,80,83017,99,50721,22,93425,30,43240,30,19443,92,11049,07,701—
Fixed Assets3,2253,6674,0004,0084,3694,7765,2486,4328,43112,60415,25816,492—
CWIP000000000000—
Investments1,49,4541,93,6342,10,7772,38,4612,89,4463,89,3054,38,8234,49,2645,11,58210,05,68211,86,47312,80,216—
Other Assets4,54,4175,64,9126,77,5678,60,7179,98,99111,86,75013,55,43516,67,23820,10,41930,11,90931,90,37936,10,993—
Total Assets6,07,0977,62,2128,92,34411,03,18612,92,80615,80,83017,99,50721,22,93425,30,43240,30,19443,92,11049,07,701—
Deposits4,50,2845,45,8736,43,1347,88,3759,22,50311,46,20713,33,72115,58,00318,82,66323,76,88727,10,89830,99,638—
Borrowing59,4781,03,71498,4161,56,4421,57,7331,86,8341,77,6972,26,9662,56,5497,30,6156,34,6065,88,485—

Cash Flows

As of 31 Mar 2026
Consolidated · ₹ Cr
Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity4,211−21,281−34,43517,28217,214−62,872−16,86942,476−11,96020,81419,0691,27,2421,13,506
Cash from Investing Activity−1,099−800−837−1,146−842−1,503−1,403−1,823−2,051−2,99216,600−3,6517,477
Cash from Financing Activity9,27018,69437,815−5,89357,37823,13124,394−7,32148,12423,941−3,983−1,02,478−59,005
Net Cash Flow12,382−3,3872,54210,24273,750−41,2446,12233,33234,11341,76231,68721,11361,978

Ratios

As of 31 Mar 2026
13 periods
Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %————————————7.0
ROE %22.020.019.018.018.017.016.016.017.017.017.014.014.0
EPS (₹)9.1110.6612.6614.9117.8320.5024.8528.8734.3141.2242.1646.2649.39
Book Value (₹)————————————390.0
Face Value (₹)————————————1
P/E————————————13.8
Div Yield %————————————1.84
NPM %—17.817.217.818.318.118.620.422.822.516.015.616.0
OPM %—————————————
D/E—8.078.748.088.627.037.567.207.227.396.816.416.29
P/B————————————1.8

Growth

As of 11 Oct 2026
Compounded sales growth
10 years+19.0%
5 years+22.0%
3 years+27.0%
TTM+3.0%
Compounded profit growth
10 years+19.0%
5 years+19.0%
3 years+18.0%
TTM+12.0%
Stock price CAGR
10 years+8.0%
5 years−3.0%
3 years−3.0%
Last year−28.0%
Return on equity
10 years16.0%
5 years15.0%
3 years15.0%
Last year14.0%

Shareholding pattern

As of 30 Jun 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters26.00%26.00%26.00%25.60%26.50%26.14%25.97%25.78%25.59%0.00%0.00%0.00%0.00%
FIIs42.13%42.13%42.13%40.43%38.71%36.68%39.79%35.62%32.24%47.83%48.30%44.05%39.39%
DIIs12.94%12.94%12.94%14.97%16.41%21.74%20.99%24.55%28.09%33.33%35.68%40.14%43.44%
Government0.13%0.13%0.13%0.13%0.20%0.23%0.24%0.16%0.16%0.18%0.18%0.18%0.19%
Public18.80%18.80%18.80%18.87%18.19%15.21%13.01%13.89%13.91%18.64%15.84%15.64%16.96%
No. of shareholders4,63,5684,63,5684,63,5685,10,3775,89,93012,86,08313,75,29421,51,63022,90,09241,21,81538,29,14642,30,42548,07,998
Change since Jun 2023 (pp)
Promoters −26.00FIIs −2.74DIIs +30.50Public −1.84

Documents

As of 11 Oct 2026
Announcements
Announcement under Regulation 30 (LODR)-Newspaper PublicationShareholder Meeting / Postal Ballot-Notice of Postal BallotIntimation Under SEBI (LODR) Regulations, 2015Announcement under Regulation 30 (LODR)-Change in DirectorateAnnouncement under Regulation 30 (LODR)-Change in Management
Annual reports
Annual Report 2026Annual Report 2025Annual Report 2024Annual Report 2023Annual Report 2022
Credit ratings
Rating updateRating updateRating updateRating updateRating update
Concalls
Jul 2026TranscriptJul 2026PPTJul 2026RecordingApr 2026TranscriptApr 2026PPTMar 2026TranscriptMar 2026RecordingJan 2026TranscriptJan 2026PPTJan 2026RecordingOct 2025TranscriptOct 2025PPT

Corporate actions

As of 19 Jun 2026
19 Jun 2026DIVIDENDDividend - Rs 13 Per Share—
26 Aug 2025BONUSBonus 1:1—
25 Jul 2025DIVIDENDSpecial Dividend - Rs 5 Per Share—
27 Jun 2025DIVIDENDDividend - Rs 22 Per Share—
10 May 2024DIVIDENDDividend - Rs 19.50 Per Share—
16 May 2023DIVIDENDDividend - Rs 19 Per Share—
12 May 2022DIVIDENDDividend - Rs 15.50 Per Share—
29 Jun 2021DIVIDEND Dividend - Rs 6.50 Per Share—
19 Sep 2019SPLIT Face Value Split (Sub-Division) - From Rs 2 Per Share To Rs 1 Per Share2 : 1
1 Aug 2019DIVIDEND Special Dividend - Rs 5 Per Share—
20 Jun 2019DIVIDEND Dividend Rs 15 Per Sh—
31 May 2018DIVIDEND Dividend- Rs 13 Per Share—
29 Jun 2017DIVIDEND Dividend - Rs 11/- Per Share—
29 Jun 2016DIVIDEND Dividend - Rs 9.50/- Per Share—
2 Jul 2015DIVIDENDAnnual General Meeting/ Dividend - Rs 8/- Per Share—
5 Jun 2014DIVIDENDAnnual General Meeting And Dividend - Rs.6.85/- Per Share—
13 Jun 2013DIVIDENDAnnual General Meeting / Final Dividend Rs.5.50/- Per Equity Share—
28 Jun 2012DIVIDENDAnnual General Meeting And Dividend Rs.4.30 Per Share—
14 Jul 2011SPLITFace Value Split From Rs.10/- To Rs.2/-10 : 2
2 Jun 2011DIVIDENDAnnual General Meeting And Dividend Rs.16.50 Per Share—
Fundamentals from a third-party compiler of exchange filings; prices from the exchanges. Not investment advice.© 2026 āagman