HDFC Bank (HDFCBANK.NS) Stock Price

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HDFC Bank Price

🇮🇳NSE·CLOSED

887.45INR

Market closed

Today +/-

-8.55 INR

Today %

-0.96 %

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HDFC Bank (HDFCBANK.NS) — ISIN INE040A01034. The HDFC Bank stock price was 887.45 INR in 2026. Revenue was 1.98 T INR. Earnings were 763.21 B INR. P/E ratio was 17.82. HDFC Bank operates in the Finance sector.

HDFC Bank stock price

Ex-Dividend

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Stock Price

ⓘ

How to Read This Chart

This chart tracks the historical stock price of HDFC Bank over time. You can switch between daily, weekly, and monthly views and select custom time ranges — from a single day to the full available history. Use the toggle to view price changes in absolute currency terms or as a percentage change relative to the starting date.

Total Return vs. Price Return

The "Total Return" toggle includes reinvested dividends on top of the pure price movement. This is critical because dividends can account for a significant portion of long-term returns. Historically, roughly 40 % of the S&P 500's total return has come from dividends. Always compare total return when evaluating a stock's real performance against a benchmark.

Intraday Price Data

When viewing a one-day time frame, the chart displays real-time intraday price movements. This is useful for observing how HDFC Bank stock reacts to market openings, earnings releases, or breaking news throughout the trading session.

What to Look For

Look for long-term trends (sustained upward or downward movements over months and years), support and resistance levels (price zones where the stock repeatedly bounces or reverses), and volatility (how much the price fluctuates day to day). Comparing HDFC Bank's price chart to a market index like the S&P 500 can reveal whether the stock is outperforming or underperforming the broader market.

HDFC Bank Stock Price History

Date	HDFC Bank Price
2/27/2026	887.45 INR
2/26/2026	896.00 INR
2/25/2026	907.40 INR
2/24/2026	911.50 INR
2/23/2026	924.10 INR
2/20/2026	911.85 INR
2/19/2026	914.30 INR
2/18/2026	923.70 INR
2/17/2026	926.45 INR
2/16/2026	925.50 INR
2/13/2026	903.90 INR
2/12/2026	920.60 INR
2/11/2026	926.80 INR
2/10/2026	932.60 INR
2/9/2026	938.80 INR
2/6/2026	941.00 INR
2/5/2026	949.70 INR
2/4/2026	949.00 INR

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HDFC Bank Revenue, EBIT, Net Income

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Revenue

Net Income

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HDFC Bank Income Statement, Balance Sheet, Cash Flow Statement

Last updated Mar 5, 2026, 12:54 AM

REVENUE (T INR)

REVENUE GROWTH (%)

GROSS MARGIN (%)

GROSS INCOME (M INR)

EBIT (T INR)

EBIT MARGIN (%)

NET INCOME (T INR)

NET INCOME GROWTH (%)

DIVIDEND (INR)DIV. (INR)

DIVIDEND GROWTH (%)DIV. GROWTH (%)

SHARES (B)

DOCUMENTS

1998	1999	2000	2001	2002	2003	2004	2005	2006	2007	2008	2009	2010	2011	2012	2013	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e	2027e	2028e
0	0	0.01	0.01	0.02	0.02	0.03	0.04	0.06	0.08	0.12	0.2	0.2	0.25	0.34	0.43	0.51	0.6	0.74	0.86	1.01	1.24	1.47	1.56	1.68	2.05	4.08	4.71	1.98	2.16	2.48
–	46.66	81.31	79.52	40.92	21.65	22.25	23.61	50.59	45.85	51.89	58.07	3.52	20.48	38.81	25.77	18.28	18.41	23.52	15.83	17.64	22.46	18.50	6.00	7.58	22.05	99.35	15.42	-57.93	8.84	14.89
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	1.23	1.33	1.53
–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
0	0	0	0	0	0	0.01	0.01	0.01	0.01	0.02	0.02	0.03	0.04	0.05	0.07	0.09	0.11	0.13	0.15	0.19	0.22	0.27	0.32	0.38	0.46	0.64	0.71	0.76	0.88	1.02
–	30.59	45.63	75.08	41.36	30.51	31.45	30.62	32.46	30.56	38.59	41.00	33.56	32.92	31.42	30.92	27.28	22.25	19.76	19.15	21.35	20.65	22.04	16.80	19.54	20.88	39.27	10.51	7.81	15.37	16.28
-	-	-	-	-	-	-	-	5.50	7.00	8.50	10.00	12.00	16.50	4.30	5.50	6.85	8.00	9.50	11.00	13.00	20.00	3.75	6.50	15.50	19.00	19.50	27.00	27.00	10.46	12.37
–	–	–	–	–	–	–	–	–	27.27	21.43	17.65	20.00	37.50	-73.94	27.91	24.55	16.79	18.75	15.79	18.18	53.85	-81.25	73.33	138.46	22.58	2.63	38.46	–	-61.26	18.26
4	4	4.05	5.49	6.01	6.25	6.3	6.22	6.67	6.33	6.98	8.54	8.82	9.35	9.35	9.44	9.56	9.81	10.19	10.31	10.46	10.83	11.02	11.05	11.14	11.18	14.23	15.32	15.32	15.32	15.32
–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–

Details

Income Statement Key Figures

ⓘ

Revenue and Revenue Growth

Revenue is the starting point of every income statement — it measures the total sales HDFC Bank generates from its core business. Revenue growth (expressed as year-over-year percentage change) is one of the most important indicators of business momentum. Sustained growth above 10 % annually is generally considered strong, while declining revenue is a serious warning sign that demands investigation.

Gross Margin

Gross margin = (Revenue − Cost of Goods Sold) ÷ Revenue. It reveals what percentage of each dollar of revenue HDFC Bank retains after direct production costs. High gross margins (above 50 %) are typical of asset-light businesses like software and brands, while capital-intensive industries like manufacturing often operate below 30 %. Compare HDFC Bank's gross margin to industry peers and track it over time to spot improving or deteriorating pricing power.

EBIT and EBIT Margin

EBIT measures operating profit — what remains after subtracting all operating expenses (including R&D, sales, and administrative costs) from gross profit. The EBIT margin shows this as a percentage of revenue. Because it excludes interest and taxes, EBIT allows fair comparisons between companies with different debt levels and tax jurisdictions. A rising EBIT margin indicates improving operational efficiency.

Net Income and Earnings Per Share (EPS)

Net income is the company's final profit after all expenses, interest, and taxes. Dividing net income by the number of shares outstanding gives you EPS — the single most influential metric in stock valuation. Consistent EPS growth is the primary driver of long-term stock price appreciation. Always check whether EPS growth comes from genuine profit improvement or from share buybacks reducing the share count.

Shares Outstanding

The total number of shares HDFC Bank has issued. A declining share count (through buybacks) boosts EPS and signals management confidence. A rising share count (through stock issuance) dilutes existing shareholders. Always monitor this number alongside EPS to get the full picture of per-share value creation.

Analyst Estimates

The projected figures represent consensus estimates from professional analysts. Compare these forecasts against HDFC Bank's historical growth rates to assess whether expectations are realistic. A company that consistently beats consensus estimates tends to see its stock price rewarded over time, while repeated misses erode investor confidence.

ASSETS

CASH BALANCE (M INR)

RECEIVABLES (M INR)

OTHER RECEIVABLES (M INR)OTHER REC. (M INR)

INVENTORIES (M INR)

OTHER CURRENT ASSETS (M INR)OTHER CURRENT LIAB. (M INR)

CURRENT ASSETS (M INR)

TANGIBLE ASSETS (B INR)

LONG-TERM INVESTMENTS (B INR)LONG-T. INVEST. (B INR)

LONG-TERM RECEIVABLES (M INR)LONG-T. REC. (M INR)

INTANGIBLE ASSETS (M INR)INTANGIBLE ASSETS (M INR)

GOODWILL (B INR)

OTHER NON-CURRENT ASSETS (B INR)OTHER NON-CURRENT ASSETS (B INR)

NON-CURRENT ASSETS (B INR)

TOTAL ASSETS (B INR)

LIABILITIES

COMMON STOCK (B INR)

ADDITIONAL PAID-IN CAPITAL (T INR)

RETAINED EARNINGS (T INR)

OTHER EQUITY (B INR)OTHER EQUITY (B INR)

UNREALIZED GAINS/LOSSES (M INR)UNREAL. GAINS/LOSSES (M INR)

EQUITY (T INR)

LIABILITIES (B INR)

PROVISIONS (B INR)

OTHER SHORT-TERM LIABILITIES (B INR)OTHER SHORT-TERM LIAB. (B INR)

SHORT-TERM DEBTS (B INR)SHORT-TERM DEBTS (B INR)

SHORT-TERM PORTION OF LONG-TERM DEBTS (M INR)LONG-TERM DEBT PORTION (M INR)

SHORT-TERM RECEIVABLES (B INR)SHORT-TERM REC. (B INR)

LONG-TERM LIABILITIES (T INR)LONG-T. LIAB. (T INR)

DEFERRED TAXES (M INR)

OTHER LIABILITIES (T INR)OTHER LIAB. (T INR)

LONG-TERM LIABILITIES (T INR)LONG-T. LIABILITIES (T INR)

DEBT (T INR)

TOTAL CAPITAL (T INR)

2001	2002	2003	2004	2005	2006	2007	2008	2009	2010	2011	2012	2013	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025

0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
2.9	3.71	5.29	6.17	7.08	8.71	9.88	11.96	17.32	21.49	22.01	23.78	27.73	30.26	32.25	34.8	38.15	38.11	42.2	46.27	51	62.83	82.83	126.04	152.58
0	0	0	0	0	0	0.04	0.04	0.39	0.38	0.45	0.48	0.51	0.54	0.58	0.61	0.4	0	0	0	0	0	0	2	0
0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
0	0	0	0	0	0	0	0	0	0	0	0	0	1.55	1.87	1.87	1.85	1.98	1.49	1.49	0	1.49	1.49	0	0
0	0	0	0	0	0	1.55	3.82	8.62	0	0	0	0	19.19	20.32	22.27	25.87	35.32	46.21	41.44	0.01	71.44	72.92	93.02	71.38
2.9	3.71	5.29	6.17	7.08	8.71	11.47	15.82	26.33	21.88	22.46	24.26	28.24	51.54	55.02	59.55	66.27	75.4	89.89	89.2	51	135.76	157.24	221.06	223.95
2.9	3.71	5.29	6.17	7.08	8.71	11.47	15.82	26.33	21.88	22.46	24.26	28.24	51.54	55.02	59.55	66.27	75.4	89.89	89.2	51	135.76	157.24	221.06	223.95

2.44	2.81	2.82	2.85	3.1	3.13	3.19	3.54	4.25	4.58	4.65	4.69	4.76	4.8	5.01	5.06	5.13	5.19	5.45	5.48	5.51	5.55	5.58	7.6	7.65
0	0.01	0.01	0.01	0.02	0.02	0.03	0.06	0.07	0.11	0.12	0.12	0.14	0.14	0.25	0.26	0.28	0.31	0.57	0.59	0.61	0.63	0.67	1.27	1.34
0	0.01	0.01	0.01	0.02	0.03	0.04	0.05	0.08	0.1	0.13	0.17	0.23	0.29	0.38	0.48	0.63	0.78	0.96	1.17	1.49	1.83	2.21	3.24	3.82
0.11	0.09	0.07	0.01	0	0	0	0	0.05	0.01	-0.02	0.21	0.25	-0.07	0.04	0.32	0.04	0.15	1.1	3.24	1.82	5.8	18.12	43.69	47.97
0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
0.01	0.02	0.02	0.03	0.05	0.05	0.06	0.12	0.15	0.22	0.26	0.3	0.37	0.44	0.63	0.74	0.92	1.1	1.54	1.76	2.1	2.47	2.89	4.56	5.22
0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	256.18
2.96	4.17	6.88	4.17	5.84	8.26	17.04	16.75	33.23	19.97	27.93	52.15	63.73	28.26	33.7	40.98	45.91	66.76	82.48	85.83	81.24	82.41	113.94	238.53	0
0.54	0.7	0.96	1.13	1.6	1.96	2.62	3.52	4.98	6.41	8.93	11.73	15.32	19.28	24.3	28.99	0	0	0	0	0	0	0	0	0
5.11	8.67	8.51	36.67	15.55	20.8	36.78	31.57	29.22	76.73	56.36	54.66	54.79	56.11	60.85	73.78	166.67	82.22	70.4	75.84	124.24	130.94	117.91	139.33	136.54
0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
8.6	13.55	16.35	41.97	22.99	31.02	56.43	51.84	67.43	103.11	93.22	118.54	133.85	103.66	118.85	143.75	212.59	148.98	152.88	161.66	205.48	213.35	231.85	377.86	392.72
0.01	0.02	0.02	0.03	0.05	0.05	0.06	0.08	0.09	0.13	0.15	0.26	0.39	0.5	0.59	1.04	0.98	1.56	1.58	1.87	1.78	2.27	2.57	7.31	6.35
0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
0.01	0.01	0.02	0.02	0.03	0.05	0.05	0.08	0.1	0.1	0.2	0.26	0.22	0.32	0.22	0.24	0.37	0.34	0.43	0.55	0.57	0.69	0.78	4.15	4.69
0.02	0.03	0.04	0.05	0.08	0.09	0.11	0.16	0.19	0.24	0.35	0.52	0.61	0.82	0.82	1.27	1.36	1.9	2.01	2.42	2.35	2.96	3.34	11.46	11.04
0.03	0.04	0.06	0.09	0.11	0.13	0.17	0.21	0.26	0.34	0.44	0.64	0.75	0.92	0.93	1.42	1.57	2.05	2.16	2.58	2.55	3.17	3.57	11.84	11.43
0.04	0.06	0.08	0.12	0.15	0.18	0.23	0.33	0.41	0.56	0.7	0.94	1.11	1.36	1.57	2.16	2.49	3.14	3.7	4.34	4.65	5.64	6.47	16.4	16.65

Details

Balance Sheet

ⓘ

What Is the Balance Sheet?

The balance sheet is a financial snapshot of HDFC Bank at a specific point in time. It follows the fundamental equation: Assets = Liabilities + Shareholders' Equity. Unlike the income statement (which covers a period), the balance sheet tells you what the company owns, what it owes, and what belongs to shareholders at a given date.

Assets

Current assets (cash, receivables, inventory) can be converted to cash within 12 months and indicate short-term liquidity. Non-current assets (property, equipment, intangible assets, goodwill) represent long-term investments. A high proportion of cash and short-term investments gives HDFC Bank financial flexibility to weather downturns, fund acquisitions, or return capital to shareholders.

Liabilities

Current liabilities (accounts payable, short-term debt) are obligations due within one year. Non-current liabilities (long-term debt, pension obligations) are due further out. Key ratio to watch: the debt-to-equity ratio (Total Debt ÷ Shareholders' Equity). A ratio below 1.0 is generally healthy, meaning the company is funded more by equity than debt. Highly leveraged companies amplify both gains and losses.

Shareholders' Equity

Equity is the residual value belonging to shareholders after all debts are paid. It includes retained earnings (accumulated profits not paid out as dividends) and paid-in capital. Rising equity year over year is a positive sign — it means HDFC Bank is building book value. Declining equity, especially when driven by losses or heavy share buybacks funded by debt, warrants closer scrutiny.

Key Ratios to Derive

From the balance sheet, you can calculate the current ratio (current assets ÷ current liabilities; above 1.5 is comfortable), book value per share (equity ÷ shares outstanding), and return on equity (net income ÷ equity; above 15 % is strong). Tracking these ratios over time reveals whether HDFC Bank is strengthening or weakening its financial position.

NET INCOME (B INR)

DEPRECIATION AND AMORTIZATION B INRDEPRECIATION (B INR)

DEFERRED TAXES (M INR)

CHANGES IN WORKING CAPITAL (B INR)CHANGES IN WORKING CAPITAL (B INR)

NON-CASH ITEM (B INR)

PAID INTEREST (M INR)

PAID TAXES (B INR)

Net Cash Flow from Operating Activities (T INR)NET CASH FLOW FROM OPERATING ACTIVITIES (T INR)

CAPITAL EXPENDITURES (M INR)

CASH FLOW FROM INVESTING ACTIVITIES (B INR)CASH FLOW FROM INVESTING ACTIVITIES (B INR)

CASH FLOW FROM OTHER INVESTING ACTIVITIES (B INR)CASH FLOW FROM OTHER INVESTING ACTIVITIES (B INR)

INTEREST INCOME AND EXPENSES (M INR)

NET DEBT CHANGE (B INR)NET DEBT CHANGE (B INR)

Net change in equity (B INR)NET CHANGE IN EQUITY (B INR)

CASH FLOW FROM FINANCING ACTIVITIES (B INR)CASH FLOW FROM FINANCING ACTIVITIES (B INR)

OTHER ITEMS OF FINANCING CASH FLOWS (B INR)CASH FLOW FROM OTHER FINANCING ACTIVITIES (B INR)

TOTAL DIVIDENDS PAID (M INR)

NET CHANGE IN CASH FLOW (B INR)

FREE CASH FLOW (M INR)

SHARE-BASED COMPENSATION (M INR)

2001	2002	2003	2004	2005	2006	2007	2008	2009	2010	2011	2012	2013	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
3.15	4.25	5.71	7.19	9.79	12.68	16.53	22.97	33.15	43.9	59.32	76.41	99.73	131.9	160.68	194.95	233.31	284.13	342.05	381.53	427.73	507.75	613.47	751.84	935.94
0.6	0.76	1.1	1.26	1.44	1.81	2.26	2.8	3.7	4.04	5.09	5.54	6.63	6.89	6.8	7.38	8.86	9.67	12.21	12.77	13.85	16.81	23.45	30.92	38.05
0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
7.15	-2.75	-14.91	-2.09	-16.6	0.01	-16.26	-3.83	-60.31	40.39	-87.73	-282.89	-170.22	-97.37	-384.94	-553.82	-75.69	-136.11	-999.34	-605.68	-77.3	-710	-448.02	-557.84	288.94
0.12	0.33	0.51	1.11	1.89	2.45	3.06	5.57	5.99	6.39	13.71	7.12	5.38	0.7	4.66	7.13	6.62	14.45	16.37	42.69	60.49	69.25	27.1	94.91	30.35
0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	270	176	0	0
1.43	1.49	2.37	2.84	3.72	5.53	3.77	8.79	-14.1	14.5	23.19	28.2	38.34	42.09	56.47	70.73	76.85	100.1	124.98	108.77	130.22	148.38	163.68	228.43	197.09
0.01	0	-0.01	0.01	-0	0.02	0.01	0.03	-0.02	0.09	-0.01	-0.19	-0.06	0.04	-0.21	-0.34	0.17	0.17	-0.63	-0.17	0.42	-0.12	0.21	0.3	1.27
-1,151	-1,682	-2,534	-2,143	-2,442	-3,752	-3,245	-6,383	-6,895	-5,724	-5,596	-6,886	-9,107	-8,530	-7,723	-8,771	-11,577	-16,081	-16,206	-16,358	-16,961	-22,362	-34,665	-42,867	-40,758
-1.15	-1.61	-2.52	-2.12	-2.43	-3.7	-3.22	-6.29	14.86	-5.6	-5.5	-6.87	-9.06	-10.67	-8.11	-8.66	-11.48	-8.52	-15.98	-16.17	-16.81	-22.16	-34.24	53.14	-38.51
0	0.08	0.02	0.02	0.01	0.05	0.02	0.1	21.75	0.12	0.09	0.02	0.05	-2.14	-0.38	0.12	0.1	7.56	0.22	0.19	0.15	0.2	0.43	96	2.25
0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
0.5	0	0	4	-1	12.02	15.81	0	-0.46	-0.67	-0.62	80.34	70.81	98.14	93.56	390.06	-52.98	580.26	12.91	291.02	-91.38	489.71	289.3	-52.23	-963.81
0.04	7.91	0.18	0.43	0.76	0.63	2.54	14.96	4.89	41.64	8.28	5.31	11.17	7.23	107.18	12.23	22.62	27.26	257.9	18.49	17.6	26.1	34.16	84.43	63.47
0.18	7.37	-0.52	3.47	11.38	11.46	16.41	36.33	29.71	36.31	12.74	113.8	131.05	92.7	186.94	378.15	-58.93	573.78	231.31	243.95	-73.21	481.24	239.41	-39.83	-1,024.78
0	0	0	-0.11	12.62	0.21	-0.21	23.6	28.3	-0.4	10.6	35.87	59.2	0.47	2.69	-4.05	-4.48	-5.43	-5.66	0.75	0.56	1.36	1.99	12.02	23.83
-359	-536	-704	-849	-1,000	-1,400	-1,725	-2,236	-3,018	-4,264	-5,519	-7,716	-10,135	-13,140	-16,492	-20,091	-24,083	-28,312	-33,842	-66,305	0	-35,924	-86,045	-84,044	-148,262
10.05	8.36	-10.64	8.83	5.47	24.71	18.78	57.55	27.09	125.41	-2.4	-86.63	63.56	123.82	-33.87	25.42	102.42	737.5	-412.44	61.22	333.32	341.13	417.62	316.87	211.13
9,863.4	912.8	-10,129.4	5,329.5	-5,923.4	13,201.8	2,343.9	21,121.57	-24,370.66	88,988.96	-15,198.72	-200,698.6	-67,580.63	33,575.46	-220,533.34	-353,125.3	161,533.98	156,061.9	-644,921.56	-185,049.62	407,803.1	-141,958.1	173,471.3	259,643.3	1.23 M
0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0

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HDFC Bank Stock Quarterly Figures

REVENUE (T INR)

REVENUE GROWTH (%)

GROSS MARGIN (%)

GROSS INCOME (M INR)

EBIT (B INR)

EBIT MARGIN (%)

NET INCOME (B INR)

NET INCOME GROWTH (%)

DIVIDEND (INR)DIV. (INR)

DIVIDEND GROWTH (%)DIV. GROWTH (%)

SHARES (B)

2002 Q1	2002 Q2	2002 Q3	2002 Q4	2003 Q1	2003 Q2	2003 Q3	2003 Q4	2004 Q1	2004 Q2	2004 Q3	2004 Q4	2005 Q1	2005 Q2	2005 Q3	2005 Q4	2006 Q1	2006 Q2	2006 Q3	2006 Q4	2007 Q1	2007 Q2	2007 Q3	2007 Q4	2008 Q1	2019 Q1	2019 Q2	2019 Q3	2019 Q4	2020 Q1	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4e	2027 Q1e
0	0	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.02	0.02	0.02	0.02	0.02	0.03	0.28	0.3	0.33	0.33	0.34	0.36	0.38	0.38	0.37	0.38	0.4	0.41	0.39	0.41	0.43	0.44	0.44	0.49	0.54	0.57	0.61	1.08	1.15	1.24	1.17	1.21	1.12	1.2	1.33	1.19	1.27	0.48	0.44
–	7.51	7.23	7.81	-2.05	9.52	5.81	5.03	5.10	3.06	7.05	3.05	0.52	7.02	12.92	11.00	6.48	10.83	15.04	16.71	7.69	9.61	4.88	15.08	7.64	959.93	7.59	8.63	1.64	3.20	5.26	6.07	-0.10	-4.15	4.74	3.64	2.69	-4.83	6.43	4.65	1.37	0.55	11.27	10.05	5.61	6.76	76.28	6.92	8.15	-5.94	3.81	-7.63	7.20	10.63	-10.89	7.06	-62.07	-8.84
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	291.57	257.45
–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
0.62	0.69	0.75	0.9	0.82	0.9	0.99	1.17	1.07	1.17	1.3	1.55	1.4	1.52	1.71	2.02	1.84	2	2.24	2.74	2.39	2.63	2.96	3.53	3.21	48.08	53.22	59.01	63.01	56.76	66.38	76.6	72.8	69.27	77.03	87.69	84.34	79.22	90.96	105.92	104.43	95.79	111.25	126.98	125.95	123.7	168.11	172.58	176.22	164.75	178.26	176.57	188.35	162.58	196.11	198.07	185.93	200.61
–	11.77	8.80	19.63	-8.65	8.74	10.27	18.02	-8.06	9.24	11.27	18.73	-9.57	8.79	12.29	18.37	-9.29	8.77	12.42	22.06	-12.63	9.86	12.44	19.42	-9.01	1,396.98	10.69	10.87	6.78	-9.92	16.95	15.39	-4.95	-4.85	11.20	13.85	-3.83	-6.07	14.82	16.44	-1.40	-8.27	16.14	14.14	-0.82	-1.78	35.90	2.66	2.11	-6.51	8.20	-0.95	6.67	-13.68	20.62	1.00	-6.13	7.89
0.10	-	-	-	0.13	-	-	-	0.15	-	-	-	0.18	-	-	-	0.23	-	-	-	0.28	-	-	-	0.35	3.25	-	-	-	3.75	-	-	-	-	-	-	-	3.25	-	-	-	7.75	-	-	-	9.50	-	-	-	9.75	-	-	-	11.00	2.50	-	-	-
–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	828.57	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	-77.27	–	–	–
5.28	5.85	5.99	6.94	6.04	6.06	6.05	6.72	6.13	6.17	6.21	6.68	6.22	6.09	6.1	6.54	6.55	6.65	6.6	3.59	6.38	6.34	6.43	3.16	6.42	10.51	10.86	10.93	10.83	11.02	11.06	11.02	10.97	11	11	11.1	11.09	11.08	11.16	11.15	11.17	11.14	11.16	11.2	11.22	11.23	15.2	15.24	15.23	15.26	15.31	15.35	15.37	15.4	15.43	15.45	15.45	15.45

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Income Statement Key Figures

ⓘ

Revenue and Revenue Growth

Gross Margin

EBIT and EBIT Margin

Net Income and Earnings Per Share (EPS)

Shares Outstanding

Analyst Estimates

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HDFC Bank stock margins

The HDFC Bank margin analysis displays the gross margin, EBIT margin, as well as the profit margin of HDFC Bank. The EBIT margin (EBIT/sales) indicates the percentage of sales that remains as operating profit. The profit margin shows the percentage of sales that remains for HDFC Bank.

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Profit margin

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HDFC Bank Stock Sales Revenue, EBIT, Earnings per Share

The HDFC Bank earnings per share therefore indicates how much revenue HDFC Bank has generated per share in a given period. The earnings before interest and taxes per share shows how much of the operating profit corresponds to each share. The earnings per share indicates how much of the profit belongs to each share.

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Sales per Share

Earnings per Share

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HDFC Bank business model

HDFC Bank Limited is an Indian financial institution headquartered in Mumbai. The bank was founded in August 1994 as a subsidiary of Housing Development Finance Corporation Limited (HDFC) and took over the banking business of HDFC. The company now has over 5,500 branches in more than 2,700 cities and towns throughout the region. HDFC Bank is one of the leading banks in India and has emerged as a major competitor in the Indian market in recent years. The business model of HDFC Bank is designed to offer a wide range of financial products and services. The bank has built a comprehensive network of branches and distribution channels to reach almost every segment of the Indian economy. HDFC Bank's various divisions include retail banking, corporate banking, investment banking, asset management, and insurance. Each division has its own goals, strategies, and products. In retail banking, the bank offers a comprehensive range of banking services and loan products. These include current accounts, savings accounts, credit cards, personal and business loans, as well as financing solutions for the purchase of cars, homes, and other assets. In addition, the bank has built an extensive network of ATMs and mobile banking services. In corporate banking, HDFC Bank offers a wide range of services for businesses of all sizes. These include accounts, foreign exchange transactions, working capital financing, trade finance, cash management, and digital payment systems. The bank also has specialized teams for specific industries such as the automotive industry, information technology, and healthcare. In investment banking, the bank offers advisory services for mergers and acquisitions, equity and debt raising, as well as structured financing. The bank is also involved in organizing market launches and bond issuances. HDFC Bank also has an asset management division, which provides investment advisory and asset management services. The bank offers a wide range of investment products, including mutual funds, stocks, bonds, gold, and other commodities. In addition to the aforementioned products and services, HDFC Bank also offers a wide range of insurance solutions. These include life insurance, accident insurance, health insurance, liability insurance, and travel insurance. The history of HDFC Bank has been marked by continuous growth and expansion. Since its inception, the company has significantly expanded its presence in India. The bank has carried out several strategic acquisitions and mergers and has continuously expanded its offerings to meet the needs of its customers. HDFC Bank has been repeatedly recognized for its financial performance and innovations and is one of the fastest-growing banks in India. Overall, HDFC Bank Limited has revolutionized the banking sector in India and has built a comprehensive network of financial services. The company has solidified its position as one of the key players in India's financial services industry and is expected to continue growing in the near future.

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HDFC Bank SWOT Analysis

Strengths

1. Established brand name and reputation in the banking industry.

2. Strong financial performance with consistent profitability and growth.

3. Extensive range of banking products and services catering to diverse customer needs.

Weaknesses

1. Relatively higher interest rates compared to some competitors.

2. Limited international presence compared to global banking giants.

3. Overreliance on Indian market, thus susceptible to domestic economic fluctuations.

Opportunities

1. Expanding presence in rural and underbanked areas of India to tap into untapped markets.

2. Embracing technological advancements to enhance digital banking capabilities.

3. Potential growth through strategic partnerships or mergers/acquisitions.

Threats

1. Intense competition from both domestic and international banks.

2. Regulatory changes impacting banking operations and profitability.

3. Economic downturns leading to reduced customer spending and loan defaults.

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HDFC Bank Eulerpool Fair Value

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Fair Value Estimate

ⓘ

What Is Fair Value?

Fair value is an estimate of what a stock is truly "worth" based on its financial fundamentals, independent of the current market price. If the calculated fair value is above the current share price, the stock may be undervalued — and vice versa. This chart shows three different fair value approaches so you can cross-check them against each other.

Earnings-Based Fair Value

Calculated by multiplying the current earnings per share (EPS) by the average historical P/E ratio over a selected multi-year period. The smoothing over several years filters out temporary spikes or dips. If this fair value exceeds the market price, it suggests the stock is cheap relative to its earning power.

Example: Fair Value (Earnings) 2022 = EPS 2022 × Average P/E 2019–2021

Revenue-Based Fair Value

Derived by multiplying revenue per share by the average historical price-to-sales ratio. This method is particularly useful for companies with volatile or temporarily depressed earnings, as revenue tends to be more stable than profits. It answers: "At what price has the market historically valued each dollar of this company's sales?"

Example: Fair Value (Revenue) 2022 = Revenue per Share 2022 × Average P/S 2019–2021

Dividend-Based Fair Value

Calculated by dividing the dividend per share by the average historical dividend yield. This approach is most relevant for mature, consistently dividend-paying companies. If the resulting fair value is higher than the current price, it implies the stock offers a better yield than its historical average.

Example: Fair Value (Dividend) 2022 = Dividend per Share 2022 ÷ Average Yield 2019–2021

How to Use This Chart

When all three fair value lines converge above the current price, it strengthens the case that the stock is undervalued. When they diverge, investigate why — it may indicate a structural shift in margins, payout policy, or growth rate. The forward estimates on the right extend the analysis using projected fundamentals, helping you assess whether the current price already reflects future growth expectations.

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HDFC Bank historical P/E ratio, EBIT multiple, and P/S ratio

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HDFC Bank annual returns

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Annual Return

ⓘ

What This Chart Shows

This chart breaks down 's total annual return into two components: price return (gains or losses from stock price movement) and dividend return (income received from dividend payments). Together, they represent the total return an investor would have earned in each calendar year.

Price Return

Price return measures the percentage change in 's stock price from January 1st to December 31st of each year. Positive bars indicate the stock appreciated; negative bars show a decline. This is the component most investors focus on, but it tells only part of the story — especially for dividend-paying stocks.

Dividend Return

Dividend return represents the income generated from dividends paid during the year, expressed as a percentage of the starting stock price. While it may seem small in any single year (typically 1–4 % for established companies), dividends compound significantly over decades and have historically contributed roughly 40 % of total stock market returns.

What to Look For

Examine how many years showed positive vs. negative returns to gauge consistency. A stock with mostly positive years and small drawdowns suggests lower risk. Also compare 's annual returns to a benchmark index — consistently outperforming the market is a hallmark of a strong investment. Pay attention to the worst years: understanding downside risk is just as important as chasing upside potential.

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HDFC Bank shares outstanding

The number of shares was HDFC Bank in 2025 — This indicates how many shares 15.324 B is divided into. Since shareholders are the owners of a company, each share represents a small portion of the company's ownership.

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Number of stocks

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HDFC Bank stock splits

In HDFC Bank's history, there have been no stock splits.

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HDFC Bank Dividend History

28 years of dividend payments · 5 consecutive increases

YearAnnual DividendYoY ChangePayments

202527INR↑ 38.5%2×

Jun 27, 202522INR↑ 12.8%1/2

Jul 25, 20255INR↓ 77.3%2/2

202419.5INR↑ 2.6%1×

202319INR↑ 22.6%1×

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HDFC Bank dividend history and estimates

In 2025, HDFC Bank paid a dividend amounting to 27 INR. Dividend means that HDFC Bank distributes a portion of its profits to its owners.

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Dividend

Dividend (Estimate)

Special dividend

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HDFC Bank dividend payout ratio

In 2025, HDFC Bank had a payout ratio of 19.25%. The payout ratio indicates the percentage of the company's profits that HDFC Bank distributes as dividends.

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Payout ratio

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Unfortunately, there are currently no price targets and forecasts available for HDFC Bank.

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HDFC Bank Earnings Estimates

Date	EPS estimate	Revenue Estimate	Quarterly report
4/13/2024	23.28INR	446.12 BINR	2024 Q4
1/12/2024	25.87INR	419.57 BINR	2024 Q3
7/14/2023	21.63INR	0INR	2024 Q1
4/14/2023	22.22INR	332.75 BINR	2023 Q4
1/13/2023	21.71INR	311.19 BINR	2023 Q3
10/14/2022	20.02INR	270.04 BINR	2023 Q2
7/16/2022	17.14INR	270.58 BINR	2023 Q1
4/16/2022	18.51INR	256.5 BINR	2022 Q4
1/17/2022	18.79INR	270.28 BINR	2022 Q3
10/16/2021	16.27INR	252.45 BINR	2022 Q2
7/19/2021	14.52INR	243.57 BINR	2022 Q1
4/17/2021	15.18INR	251.44 BINR	2021 Q4
1/16/2021	18.08INR	230.73 BINR	2021 Q3
10/19/2020	13.31INR	212.47 BINR	2021 Q2
7/18/2020	11.56INR	207.29 BINR	2021 Q1
4/18/2020	15.34INR	211.74 BINR	2020 Q4
1/18/2020	13.05INR	202.32 BINR	2020 Q3
10/19/2019	13.08INR	189.64 BINR	2020 Q2
7/20/2019	10.62INR	182.94 BINR	2020 Q1
4/20/2019	11.15INR	170.41 BINR	2019 Q4
1/19/2019	10.86INR	164.74 BINR	2019 Q3
10/20/2018	9.92INR	157.09 BINR	2019 Q2
7/21/2018	9.47INR	154.46 BINR	2019 Q1
4/21/2018	9.62INR	142.76 BINR	2018 Q4
1/19/2018	9.31INR	139.56 BINR	2018 Q3
10/24/2017	8.42INR	131.8 BINR	2018 Q2
7/24/2017	7.94INR	126.89 BINR	2018 Q1
4/21/2017	8.14INR	120.69 BINR	2017 Q4
1/24/2017	7.48INR	115.4 BINR	2017 Q3
10/25/2016	7.12INR	106.74 BINR	2017 Q2
7/21/2016	6.72INR	104.46 BINR	2017 Q1
4/22/2016	6.99INR	104.37 BINR	2016 Q4
1/25/2016	6.96INR	101.01 BINR	2016 Q3
10/21/2015	6INR	92.18 BINR	2016 Q2
7/21/2015	5.65INR	82.76 BINR	2016 Q1
4/23/2015	5.99INR	83.41 BINR	2015 Q4
2/14/2015	5.91INR	81.92 BINR	2015 Q3
10/21/2014	5.25INR	74.85 BINR	2015 Q2
7/21/2014	5.07INR	73.7 BINR	2015 Q1
4/22/2014	5.25INR	72.86 BINR	2014 Q4
1/17/2014	4.9INR	69.77 BINR	2014 Q3
10/15/2013	4.31INR	63.01 BINR	2014 Q2
7/17/2013	4.01INR	60.99 BINR	2014 Q1
4/23/2013	4.1INR	56.4 BINR	2013 Q4
1/18/2013	3.88INR	52.04 BINR	2013 Q3
4/18/2012	3.16INR	44.38 BINR	2012 Q4
1/19/2012	3.03INR	45.62 BINR	2012 Q3
7/19/2011	2.31INR	40.34 BINR	2012 Q1
4/18/2011	2.29INR	38.82 BINR	2011 Q4
10/19/2010	2.09INR	35.88 BINR	2011 Q2
7/19/2010	1.97INR	27.14 BINR	2011 Q1
4/24/2010	1.88INR	23.86 BINR	2010 Q4
1/15/2010	1.81INR	24.86 BINR	2010 Q3
10/14/2009	1.56INR	22.87 BINR	2010 Q2
7/14/2009	1.51INR	23.66 BINR	2010 Q1
4/23/2009	1.49INR	22.98 BINR	2009 Q4
1/14/2009	1.47INR	22.03 BINR	2009 Q3
10/16/2008	1.26INR	21.27 BINR	2009 Q2
7/28/2008	1.27INR	17.8 BINR	2009 Q1
4/24/2008	1.26INR	17.81 BINR	2008 Q4
1/21/2008	1.21INR	13.45 BINR	2008 Q3
10/12/2007	1.04INR	11.63 BINR	2008 Q2

EESG©

Eulerpool ESG Scorecard© for the HDFC Bank stock

68/100

Environment

Social

Governance

Environment

Scope 1 - Direct Emissions77,999.5

Scope 2 - Indirect emissions from purchased energy284,877.91

Scope 3 - Indirect emissions within the value chain24,030,310.04

Total CO₂ emissions362,877.41

CO₂ reduction strategy

Coal energy

Nuclear power

Animal experiments

Fur & Leather

Pesticides—

Palm Oil

Tobacco

Genetically modified organisms

Climate concept—

Sustainable forestry—

Recycling regulations

Environmentally friendly packaging

Hazardous substances

Fuel consumption and efficiency

Water consumption and efficiency

Social

Percentage of female employees26

Percentage of women in management—

Percentage of Asian employees—

Share of Asian management—

Percentage of Hispanic/Latino employees—

Hispano/Latino Management share—

Percentage of Black employees—

Black Management Share—

Percentage of white employees—

White Management Share—

Adult content

Alcohol

Weapons—

Firearms

Gambling

Military contracts

Human rights concept

Privacy concept—

Occupational health and safety

Catholic

Governance (Corporate Governance)

Environmental reporting

Stakeholder Engagement

Call Back Policies

Antitrust law

The Eulerpool ESG Scorecard© is the strictly copyrighted intellectual property of Eulerpool Research Systems. Any unauthorized use, imitation, or infringement will be actively pursued and may lead to significant legal consequences. For licenses, collaborations, or usage rights, please contact us directly via our contact form. Contact Form to us.

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HDFC Bank shareholders

%	Name	Stocks	Change	Date
3.17109%	SBI Funds Management Pvt. Ltd.	485,935,660	+31,202,601	3/31/2025
2.35432%	Life Insurance Corporation of India	360,773,905	-1,810,738	3/31/2025
1.90334%	HDFC Asset Management Co., Ltd.	291,667,437	+114,626,917	3/31/2025
1.40282%	ICICI Prudential Asset Management Co. Ltd.	214,966,966	+14,805,398	3/31/2025
1.23216%	The Vanguard Group, Inc.	188,814,953	+15,988	7/31/2025
1.14793%	GIC Private Limited	175,908,308	+2,001,771	3/31/2025
0.95451%	UTI Asset Management Co. Ltd.	146,268,989	+341,549	7/31/2025
0.93084%	BlackRock Institutional Trust Company, N.A.	142,641,569	+2,520,327	7/31/2025
0.87335%	Nippon Life India Asset Management Limited	133,831,165	-504,917	7/31/2025
0.64235%	Norges Bank Investment Management (NBIM)	98,433,481	-5,072,967	12/31/2024
0.62112%	Fidelity Management & Research Company LLC	95,180,178	+983	7/31/2025
0.43818%	Kotak Mahindra Asset Management Company Limited	67,147,153	-560,923	7/31/2025
0.42881%	Dodge & Cox	65,709,900	-1,755,600	6/30/2025
0.40259%	BlackRock Advisors (UK) Limited	61,692,749	+333,241	7/31/2025
0.40009%	Mirae Asset Global Investments (India) Pvt. Ltd.	61,309,289	+455,123	7/31/2025
0.39688%	Axis Asset Management Company Limited	60,818,071	-1,100,783	7/31/2025
0.34159%	Capital Research Global Investors	52,344,532	+39,270	7/31/2025
0.32588%	Aditya Birla Sun Life AMC Limited	49,937,887	+50,870	7/31/2025
0.31075%	PPFAS Asset Management Private Limited	47,619,419	+436,690	7/31/2025
0.29302%	MFS Investment Management	44,901,760	-2,686,913	6/30/2025
0.25877%	Tata Asset Management Ltd.	39,653,360	-2,385,351	7/31/2025
0.22071%	Morgan Stanley Investment Management Inc. (US)	33,821,315	+57,717	6/30/2025
0.21326%	Schroder Investment Management North America Inc.	32,679,448	-389,276	6/30/2025
0.19465%	Capital World Investors	29,828,657	+38,302	7/31/2025
0.19419%	Geode Capital Management, L.L.C.	29,757,379	+7,058	7/31/2025
0.19079%	Franklin Templeton Asset Management (India) Pvt. Ltd.	29,237,021	-751,865	7/31/2025
0.18423%	DSP Investment Managers Pvt. Ltd.	28,230,659	-5,531	7/31/2025
0.17041%	Stewart Investors	26,113,365	-7,920	6/30/2025
0.15868%	Canara Robeco Asset Management Company Ltd.	24,316,301	+350,000	7/31/2025
0.15542%	Invesco Advisers, Inc.	23,816,858	+1,304,346	6/30/2025
0.15108%	FIL Investment Management (Hong Kong) Limited	23,150,943	+360,446	6/30/2025
0.14702%	First Sentier Investors (Hong Kong) Limited	22,528,703	-266,379	6/30/2025
0.14601%	Sands Capital Management, LLC	22,374,391	+208,155	7/31/2025
0.13781%	Bandhan Asset Management Company Limited	21,117,934	-86,879	7/31/2025
0.13662%	Flossbach von Storch AG	20,935,000	-500,000	6/30/2025
0.13563%	APG Asset Management N.V.	20,784,017	+109,669	12/31/2024
0.13422%	FIL Investment Management (Singapore) Ltd.	20,567,138	-1,147,051	6/30/2025
0.13078%	Dimensional Fund Advisors, L.P.	20,040,748	-4,488	7/31/2025
0.12975%	Nuveen LLC	19,882,506	+544	7/31/2025
0.12911%	JPMorgan Asset Management U.K. Limited	19,785,165	+57,630	6/30/2025
0.12860%	Schroder Investment Management Ltd. (SIM)	19,706,312	+404,421	6/30/2025
0.12271%	INVESCO Asset Management Limited	18,803,393	+879,616	6/30/2025
0.12016%	Invesco Asset Management (India) Private Limited	18,412,850	-1,379,172	7/31/2025
0.11503%	Schroder Investment Management (Hong Kong) Ltd.	17,626,623	-78,103	6/30/2025
0.10803%	Baillie Gifford & Co.	16,554,679	-362,680	6/30/2025
0.10467%	JPMorgan Asset Management (Asia Pacific) Limited	16,038,982	+10,824	6/30/2025
0.09411%	Fidelity International	14,421,489	+180,043	6/30/2025
0.09293%	Aviva Investors Global Services Limited	14,240,571	+84,546	6/30/2025
0.09093%	Templeton Asset Management Ltd.	13,934,038	+10,424	6/30/2025
0.08675%	Schroder Investment Management (Singapore) Ltd.	13,293,898	+191,984	6/30/2025
0.08625%	State Street Global Advisors (US)	13,217,505	+106,671	7/31/2025
0.08346%	HSBC Global Asset Management (India) Private Limited	12,789,649	-68,567	7/31/2025
0.08146%	Franklin Templeton Portfolio Advisors, Inc	12,482,492	+228,648	7/31/2025
0.08120%	PGGM Vermogensbeheer B.V.	12,443,652	+572,064	3/31/2025
0.08094%	Janus Henderson Investors	12,403,007	+441,346	6/30/2025
0.08035%	Sundaram Asset Management Company Limited	12,313,463	-55,355	7/31/2025
0.07674%	Edelweiss Asset Management Ltd.	11,759,486	+170,335	7/31/2025
0.07241%	abrdn Asia Limited	11,096,350	+100,135	6/30/2025
0.07163%	Handelsbanken Kapitalförvaltning AB	10,976,958	-471,463	6/30/2025
0.07110%	Fidelity Management & Research (Hong Kong) Limited	10,895,220		6/30/2025
0.07071%	RBC Global Asset Management (UK) Limited	10,835,910	-3,364,651	6/30/2025
0.06980%	Bessemer Trust Company, N.A. (US)	10,696,558	-619,102	4/30/2024
0.06949%	California Public Employees' Retirement System	10,648,336	+10,648,336	6/30/2024
0.06801%	Investor Education Protection Fund	10,421,723	+90,657	3/31/2025
0.06759%	abrdn Investments Limited	10,357,738	+54,952	6/30/2025
0.06597%	State Street Global Advisors (UK) Ltd.	10,109,130	+112,926	7/31/2025
0.06204%	Wellington Management Company, LLP	9,507,462	+5,401,541	6/30/2025
0.06111%	Charles Schwab Investment Management, Inc.	9,364,030	+36,564	7/31/2025
0.06079%	Amundi Asset Management, SAS	9,315,372	+204,752	7/31/2025
0.05905%	Brown Advisory	9,048,883	+471,102	6/30/2025
0.05837%	Templeton Investment Counsel, L.L.C.	8,945,239		6/30/2025
0.05836%	C WorldWide Asset Management Fondsmaeglerselskab A/S	8,943,303	-665,613	6/30/2025
0.05819%	Caisse de Depot et Placement du Quebec	8,917,081	+1,371,742	12/31/2024
0.05723%	UBS Asset Management (UK) Ltd.	8,770,072	+417,666	7/31/2025
0.05623%	JP Morgan Asset Management	8,616,385	-20,952	7/31/2025
0.05613%	Morgan Stanley Investment Management Ltd. (UK)	8,600,827	-337	6/30/2025
0.05487%	California State Teachers Retirement System	8,408,490	+5,773,737	6/30/2024
0.05353%	Northern Trust Global Investments Limited	8,202,378	+62,788	6/30/2025
0.05315%	White Oak Capital Management Consultants Llp	8,144,187	+177,501	7/31/2025
0.05243%	Morgan Stanley Investment Management (Singapore)	8,033,721	-130,885	6/30/2025
0.05123%	UBS Asset Management (Switzerland)	7,850,324		5/31/2025
0.05121%	Mawer Investment Management Ltd.	7,847,988	+10,086	5/31/2025
0.05004%	Goldman Sachs Asset Management International	7,668,830	+4,058	5/31/2025
0.04911%	BlackRock Investment Management (UK) Ltd.	7,524,838	-430,501	6/30/2025
0.04853%	Pictet Asset Management Ltd.	7,436,124	-112,361	4/30/2025
0.04841%	FMR Investment Management (U.K.) Limited	7,418,875	+10,400	6/30/2025
0.04749%	UBS Fund Management (Switzerland) AG	7,277,415	-78,266	7/31/2025
0.04733%	Nomura Asset Management Co., Ltd.	7,253,561	-4,463	6/30/2025
0.04723%	BlackRock (Singapore) Limited	7,236,957	+563,373	7/31/2025
0.04718%	T. Rowe Price International Ltd	7,229,311	-646,223	6/30/2025
0.04657%	Baroda BNP Paribas Asset Management India Pvt. Ltd.	7,136,893	-48,172	7/31/2025
0.04628%	Jupiter Asset Management Ltd.	7,091,485	+212,287	6/30/2025
0.04449%	Deka Investment GmbH	6,817,146		3/31/2025
0.04195%	UBS Asset Management (Singapore) Ltd.	6,427,970	+59,490	4/30/2025
0.03803%	American Century Investment Management, Inc.	5,827,933	+145,502	7/31/2025
0.03786%	British Columbia Investment Management Corp.	5,801,832	+2,375,010	3/31/2024
0.03737%	Nordea Funds Oy	5,726,920	-95,335	6/30/2025
0.03654%	Arga Investment Management, LP	5,599,156	-550,264	6/30/2025
0.03540%	DWS Investments UK Limited	5,424,305	+182,981	7/31/2025
0.03501%	LIC Mutual Fund Asset Management Company Ltd.	5,365,499	+37,678	7/31/2025

...

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HDFC Bank Executives and Management Board

Mr. Kaizad Bharucha

Deputy Managing Director, Executive Director

Compensation111.29 MINR

Compensation111.29 M INR

Mr. Sashidhar Jagdishan

(59)

Chief Executive Officer, Managing Director, Executive Director

107.71 MINR

Compensation107.71 M INR

Mr. Bhavesh Zaveri

(58)

Executive Director - Operations, ATM and Administration · since 2007

41.5 MINR

Compensation41.5 M INR

Mr. V. Srinivasa Rangan

Executive Director - Legal and Secretarial, Fraud and Vigilance, Ethics Office, Information Security Group, Group Oversight Department · since 2023

23 MINR

Compensation23 M INR

Mr. Srinivasan Vaidyanathan

(60)

Chief Financial Officer

17.93 MINR

Compensation17.93 M INR

...

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HDFC Bank Research

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Deep-dive analyses, investment theses, and proprietary research — curated by Eulerpool.

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Most common questions regarding HDFC Bank

The business model of HDFC Bank Ltd revolves around offering a wide array of banking and financial services to both retail and corporate customers. As one of India's leading private sector banks, HDFC Bank provides various products and services such as personal banking, wholesale banking, treasury operations, and credit cards. The bank focuses on delivering superior customer experience through its extensive branch network, digital banking platforms, and innovative offerings. HDFC Bank emphasizes technology-driven solutions and robust risk management practices to maintain its position as a trusted and efficient financial institution in India.

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Fair ValuePRO

933.34 INR

Over-/UndervaluationPRO

30.0% undervalued

Expected Return

-52.37 %

Sector

Finance

Industry

Diversified Banks

Number of shares

15,323,941,000

Employees

117,560

Revenue per Employee

40.06 M INR

Revenue growth Ø5 years

24.75 %

EBIT growth Ø5 years

—

Net Income growth Ø5 years

17.33 %

Website hdfcbank.com

Country

India 🇮🇳

Currency

INR

Initial public offering

Jul 23, 2001

ISIN

INE040A01034

Cusip

Y3119P190

Sedol

BK1N461

Market capitalization

14.24 T INRMega Cap

52-Week Range

887.45–949.7INR

HDFC Bank Directors Dealings

Quality Investing

Details

5 / 10

Sales growth (10Y) > 5%

Revenue growth (3Y) > 5 %

EBIT growth (10Y) > 5%

EBIT growth (3Y) > 5 %

Net debt < 4x EBIT

Profitable since 10Y+

EBIT Drawdown (10Y) < 50%

Return on Equity (ROE) > 15%

ROCE > 15%

Return Expectation > 10%

PEG

1.94

P/E ratio

P/Ee 2026

18.55

P/Ee 2027

16.08

P/Ee 2028

13.83

P/S

3.01

P/Se

7.15

EV/EBIT

—

P/B Ratio

2.73

ROE (Return on Equity)

13.57 %

ROA (Return on Assets)

1.61 %

ROCE (Return on Capital Employed)

—

ROIC (Return on Invested Capital)

—

PROUnlock all valuation metrics

Gross Margin

0 %

EBIT Margin

0 %

Net Margin

15.03 %

EPS (Earnings Per Share)

46.2 INR

Net Debt / EBIT

—

Debt/Equity

1.24

Dividend

27 INR

Dividend yield

2.92 %

Est. Dividend Yield

1.46 %

Payout Ratio

19.25 %

Dividend growth Ø5Y

48.41 %

Dividend payments per year

Dividend paid since

19 years+

Dividend not reduced since

4 years

Dividend increased since

4 years

Dividend withholding tax

20 %

Last updated Mar 5, 2026, 12:54 AM

HDFC Bank Peer Group

Kotak Mahindra Bank Ltd

State Bank of IndiaPRO

HDFC Bank Ticker

BSE · HDFCBANK.BONEW YORK · HDFCBANK.NS

HDFC Bank FIGI

HDFCB:IN · BBG000F8W9K8HDFCB:IB · BBG000F8W9X4HDFCB:IS · BBG000F8XD00HDFCB:IG · BBG003NW0JJ5

All fundamentals about HDFC Bank

Our stock analysis for HDFC Bank Revenue stock includes important financial indicators such as revenue, profit, P/E ratio, P/S ratio, EBIT, as well as information on dividends. We also assess aspects such as stocks, market capitalization, debt, equity, and liabilities of HDFC Bank Revenue. If you are looking for more detailed information on these topics, we offer comprehensive analyses on our subpages.

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