Arthneeti

HDB Financial Services Q2 FY27 Share Price & Earnings Call Analysis

Part of: Nifty Midcap 150 · NIFTY LargeMidcap 250 · Nifty MidSmallcap 400 · Nifty 500 · Nifty Total Market

₹566.40+0.23% today
Market cap
₹47,072 Cr
P/E
15.91
ROE
13.94%
PEG
1.74
Price to sales
2.43
Debt to equity
4.71
52W high / low
₹773 / ₹499
Sales growth (5Y)
10.99%
EBITDA margin
57.56%
Net profit margin
13.80%
Promoter holding
74.08%
Sales (last year)
₹19,362 Cr

Incorporated in 2007, HDB Financial Services Limited (HDBFS) is a non-deposit-taking NBFC and a subsidiary of HDFC Bank engaged in providing lending solutions.[1]

Guidance scorecard · Q2 FY27 call

What HDB FINANC SER's management guided
and where it ranks in Finance

#55of 67 in
Finance
Revenue10–20%MarginsFlatCapexPlannedFundraisingWhat management saidOrder bookWhat management said

RevenueQ2 FY27 call

10–20%
  • Disbursements for Q2 FY27 grew 18.7% YoY, indicating strong sales momentum.
  • Customer franchise expanded by 18.4% YoY to 24.8 million, supporting volume growth.
  • Enterprise Lending segment disbursements grew 25.5% YoY, with LAP + EBL growing 30% YoY and Gold Loans over 60% YoY, projecting continued upward trajectory.
  • Asset Finance showed moderate growth: Commercial Vehicle book up 8% YoY, Construction Equipment 12% YoY, with expectations of normalization in asset quality.
  • Consumer Finance disbursements up over 25% YoY, led by Consumer Durables (+49%) and Auto Loans (+22%).
  • Growth in new CV disbursements expected to strengthen in H2 FY27, with calibrated plans for used CV segment improvement starting Q3/Q4.

2 more points from HDB FINANC SER's call on revenue

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Full Q2 FY27 analysis

MarginsQ2 FY27 call

Flat

See what HDB FINANC SER said on margins — free account, 30 seconds.

Full Q2 FY27 analysis

CapexQ2 FY27 call

Planned
  • Ongoing investments in AI and technology to improve productivity and efficiency, especially in customer onboarding and field operations.
  • Focus on automation and simplifying workflows, enabling higher productivity with fewer employees.
  • Continuous work with FIDC and IRDAI concerning fee structures and regulatory engagements, indicating strategic focus areas.
Full Q2 FY27 analysis

FundraisingQ2 FY27 call

See what HDB FINANC SER said on fundraising — free account, 30 seconds.

Full Q2 FY27 analysis

Order bookQ2 FY27 call

  • Asset Finance expects a positive environment with festive demand and stable fleet utilization.
  • Plans to accelerate growth in used CV loans from Q3 and Q4.
  • Strong confidence in a robust H2 driven by market demand and channel/OEM partnerships.
Full Q2 FY27 analysis
Full Finance ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Finance
on management's own guidance

  1. Strong growth
    2
  2. Strong growth
    1
  3. Strong growth
    3
See all potential multibaggersWhere does HDB FINANC SER rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

HDB Financial Services latest results (Sep 2026)

Revenue

₹5,005 Cr

+10% YoY

Net profit

₹780 Cr

+34% YoY

Operating margin

22%

EPS

₹9.39

What management said on the call →

HDB Financial Services shareholding (Sep 2026)

Promoters

74.08%

−0.04 pp QoQ

FIIs

4.04%

+0.49 pp QoQ

DIIs

11.95%

−0.15 pp QoQ

Public

9.70%

−0.30 pp QoQ

Full shareholding pattern →Dividend history →

Peers

Finance companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Up 2%+₹2,826 Cr59.9
240%+Up 2%+₹844 Cr—
340%+Flat₹41,424 Cr38.1
440%+Flat₹16,712 Cr—
540%+Flat₹7,256 Cr19.1
640%+Flat₹948 Cr28.6

Sign up free to see every company in the sector ranking and track HDB FINANC SER.

Pro shows every company guiding 40%+ revenue growth →Full Finance ranking

HDB FINANC SER announcements

All announcements →

Financials of HDB FINANC SER

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Shareholder Pattern

HDB FINANC SER

Shareholding breakup across reporting periods.

Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Promoters +74.19%74.15%74.12%74.12%74.08%
FIIs +3.17%3.32%3.01%3.55%4.04%
DIIs +10.93%11.41%12.29%12.10%11.95%
Public +11.48%10.90%10.35%10.00%9.70%
Others +0.23%0.23%0.23%0.23%0.23%
No. of Shareholders11,57,25010,27,2049,61,4979,25,4748,80,572

Pros & Cons

HDB FINANC SER

Key positives and risks surfaced from the company insights section.

Pros
  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 11.0% over past five years.
  • Company might be capitalizing the interest cost
  • Dividend payout has been low at 11.2% of profits over last 3 years
Raw Insights
  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 11.0% over past five years.
  • Company might be capitalizing the interest cost
  • Dividend payout has been low at 11.2% of profits over last 3 years

Financials of HDB FINANC SER

Quarterly Results

Quarter-by-quarter operating performance

Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Revenue +3,6673,8844,0074,1444,2664,4654,5454,6744,7454,9385,005
YoY Revenue growth+16%+15%+13%+13%+11%+11%+10%
Interest1,3771,4961,5981,6451,6501,7401,6941,7041,6821,7531,817
Expenses +1,3681,5601,5611,8091,8581,9422,0172,0581,9972,0752,087
Financing Profit9228288476897587848359121,0661,1101,101
Financing Margin %25%21%21%17%18%18%18%20%22%22%22%
Other Income +00000000000
Depreciation4044484954515251545557
Profit before tax8827847996417047327828601,0111,0551,044
Tax %26%26%26%26%25%22%26%25%26%26%25%
Net Profit +656582591472531568581644751785780
EPS in Rs8.277.337.445.956.676.847.017.769.049.469.39
Gross NPA %1.90%2.10%2.25%2.26%2.56%2.81%2.81%2.44%
Net NPA %0.90%0.99%1.11%1.27%1.25%1.09%1.04%

Financials of HDB FINANC SER

Profit & Loss

Annual income statement trend

Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Revenue +10,94511,31212,40314,17316,30018,43119,362
Revenue growth+3%+10%+14%+15%+13%+11%
Interest3,8833,3263,5124,9076,4336,8566,957
Expenses +6,4516,5406,1535,8176,7457,9808,217
Financing Profit6101,4462,7383,4493,1223,5954,188
Financing Margin %6%13%22%24%19%20%22%
Other Income +-2011010
Depreciation10899112145194209218
Profit before tax5011,3482,6273,3052,9283,3863,970
Tax %22%25%25%26%26%25%
Net Profit +3911,0111,9592,4612,1762,5442,960
EPS in Rs4.9612.8024.7631.0327.3430.6435.65
Dividend Payout %0%8%8%10%11%13%

Financials of HDB FINANC SER

Balance Sheet

Capital structure and asset base

Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Sep 2026
Equity Capital789790791793796830831
Reserves7,6578,74910,64612,95015,02419,83421,322
Borrowing50,35948,97354,86574,33189,68299,230104,442
Other Liabilities +3,8363,5133,7484,4833,1613,7574,182
Total Liabilities62,64162,02670,05092,557108,663123,651130,777
Fixed Assets +317293387511735773774
CWIP0000000
Investments1,5932,2341,2433,3802,0603,7484,174
Other Assets +60,73159,50068,42088,665105,868119,130125,829
Total Assets62,64162,02670,05092,557108,663123,651130,777

Financials of HDB FINANC SER

Cash Flows

Operating, investing and financing cash movement

Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +-3421,987-6,851-16,736-13,626-8,606
Cash from Investing Activity +131-703973-2,1461,159-1,772
Cash from Financing Activity +608-1,5005,79619,13412,77010,673
Net Cash Flow398-216-81252303296
Free Cash Flow-3661,947-6,960-16,858-13,834-8,747

Financials of HDB FINANC SER

Ratios

Working capital efficiency and return ratios

Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROE %5%11%19%20%15%14%

Guidance history

How HDB FINANC SER's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q2 FY27 call →10–20%FlatPlanned——
Q1 FY27 call →10–20%FlatPlanned—Flat
Q4 FY26 call →10–20%FlatPlanned——
Q3 FY26 call →10–20%FlatPlanned——

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

10out of 100

Momentum score · price trend

10 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,937 stocks
Last 12 months−22.6%26%
Last 6 months−16.1%17%
Last 3 months−17.5%13%

The price is 33% below its all-time high of ₹845.65 (11 Jul 2025). Stocks more than 20% below their peak have their score halved, so 20 became 10.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,937 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For HDB FINANC SER: 0.4 × 26 + 0.4 × 17 + 0.2 × 13 = 20, halved to 10 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 13 Nov 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

HDB Financial Services: frequently asked questions

What is HDB Financial Services share price today?

HDB Financial Services last traded at ₹566.4, with a market capitalisation of ₹47,072 Cr and a P/E ratio of 15.9.

What were HDB Financial Services's latest quarterly results?

For the quarter ended Sep 2026, HDB Financial Services reported revenue of ₹5,005 Cr (+10% year on year) and net profit of ₹780 Cr, with an operating margin of 22%.

Is HDB Financial Services's profit growing?

Net profit was ₹780 Cr in Sep 2026 against ₹581 Cr in Sep 2025, a change of +34%.

What is HDB Financial Services's EPS?

HDB Financial Services's earnings per share for the quarter ended Sep 2026 was ₹9.39.

What is the promoter holding in HDB Financial Services?

Promoters held 74.08% of HDB Financial Services in Sep 2026 (−0.04 pp versus Jun 2026).

How much do FIIs and DIIs hold in HDB Financial Services?

In Sep 2026, foreign institutional investors held 4.04% and domestic institutions (including mutual funds) held 11.95% of HDB Financial Services.

What is HDB Financial Services's ROE and ROCE?

HDB Financial Services's return on equity is 13.9% and its return on capital employed is 9.09%.

Does HDB Financial Services pay a dividend?

Yes. HDB Financial Services's dividend yield is 0.75% at the current price. The full payout history is on the HDB Financial Services dividends page.

Which sector does HDB Financial Services belong to?

HDB Financial Services is in the Finance sector. Its peer comparison and sector ranking are on this page.

What did HDB Financial Services's management say on the latest earnings call?

Arthneeti's analysis of the Q2 FY27 earnings call covers revenue, margins, capex and fundraising guidance from HDB Financial Services's management.

How does Arthneeti AI analyse HDB Financial Services?

Arthneeti reads HDB Financial Services's earnings call transcripts and filings and scores revenue growth, margins, capex and fundraising, then ranks the company against its sector.

Continue your research

What HDB FINANC SER's management said in earlier quarters

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