HDFC Bank Ltd.
HDFC Bank Limited provides banking and financial products and services to individuals and businesses in India, Bahrain, Hong Kong, Singapore, and Dubai. The company operates through Treasury, Retail Banking, Wholesale Banking, Other Banking Business, Insurance Business, and Other segments. It offers savings, salary, current, rural, public provident fund, pension, and demat accounts; fixed and recurring deposits; and safe deposit lockers, as well as offshore accounts and deposits, and overdrafts against fixed deposits. The company also provides personal, home, car, two-wheeler, business, doctor, educational, gold, consumer, and rural loans; loans against properties, securities, mutual funds, rental receivables, and assets; loans for professionals; government sponsored programs; and loans on credit card, as well as working capital and commercial/construction equipment finance, healthcare/medical equipment, commercial vehicle finance, dealer finance, and term loans. In addition, it offers credit, debit, prepaid, forex, and kisan gold cards; payment and collection, export, import, remittance, bank guarantee, letter of credit, trade, hedging, and merchant and cash management services; and insurance and investment products. Further, the company provides short term finance, bill discounting, structured finance, export credit, loan repayment, custodial, and documents collection services; online, mobile, and phone banking services; unified payment interface, immediate payment, national electronic funds transfer, and real time gross settlement services; channel financing, vendor financing, reimbursement account, money market, derivatives, employee trusts, cash surplus corporates, tax payment, and bankers to rights/public issue services; and financial solutions for supply chain partners and agricultural customers. It operates branches and automated teller machines in various cities/towns. The company was incorporated in 1994 and is headquartered in Mumbai, India.
Valuation
Profitability
Returns
Solvency
AI Summary
Indian StockRule-based from financial data. Not advice.
Historically, Nov has averaged the highest return (+4.8%); Jan the lowest (-2.1%).
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -6.3%Negative MonthJan 2026: -6.29% | -4.5%Negative MonthFeb 2026: -4.51% | -17.5%Negative MonthMar 2026: -17.53% | +5.4%Positive MonthApr 2026: +5.38% | -0.6%Neutral MonthMay 2026: -0.62% | +4.2%Positive MonthJun 2026: +4.18% | -6.3%Negative MonthJul 2026: -6.33% | -3.7%*Negative MonthAug 2026: -3.73% | β | β | β | β |
| 2025 | -4.1%Negative MonthJan 2025: -4.13% | +1.9%Neutral MonthFeb 2025: +1.87% | +5.6%Positive MonthMar 2025: +5.63% | +5.2%Positive MonthApr 2025: +5.21% | +1.1%Neutral MonthMay 2025: +1.08% | +2.9%Positive MonthJun 2025: +2.88% | +0.9%Neutral MonthJul 2025: +0.90% | -5.7%Negative MonthAug 2025: -5.74% | -0.0%Neutral MonthSep 2025: -0.03% | +3.8%Positive MonthOct 2025: +3.84% | +2.0%Neutral MonthNov 2025: +1.96% | -1.5%Neutral MonthDec 2025: -1.51% |
| 2024 | -14.5%Negative MonthJan 2024: -14.47% | -4.1%Negative MonthFeb 2024: -4.07% | +3.2%Positive MonthMar 2024: +3.24% | +4.8%Positive MonthApr 2024: +4.75% | +0.9%Neutral MonthMay 2024: +0.91% | +10.0%Positive MonthJun 2024: +9.97% | -3.9%Negative MonthJul 2024: -3.95% | +1.0%Neutral MonthAug 2024: +0.98% | +6.1%Positive MonthSep 2024: +6.07% | +0.2%Neutral MonthOct 2024: +0.17% | +3.6%Positive MonthNov 2024: +3.61% | -1.4%Neutral MonthDec 2024: -1.40% |
| 2023 | -1.5%Neutral MonthJan 2023: -1.47% | -0.1%Neutral MonthFeb 2023: -0.14% | +0.5%Neutral MonthMar 2023: +0.53% | +4.9%Positive MonthApr 2023: +4.86% | -4.5%Negative MonthMay 2023: -4.54% | +5.6%Positive MonthJun 2023: +5.61% | -3.0%Negative MonthJul 2023: -2.98% | -4.8%Negative MonthAug 2023: -4.79% | -2.9%Negative MonthSep 2023: -2.89% | -3.3%Negative MonthOct 2023: -3.27% | +5.6%Positive MonthNov 2023: +5.57% | +9.7%Positive MonthDec 2023: +9.66% |
| 2022 | +0.4%Neutral MonthJan 2022: +0.39% | -4.0%Negative MonthFeb 2022: -3.96% | +3.0%Positive MonthMar 2022: +3.03% | -5.8%Negative MonthApr 2022: -5.80% | +0.2%Neutral MonthMay 2022: +0.19% | -2.9%Negative MonthJun 2022: -2.88% | +6.5%Positive MonthJul 2022: +6.45% | +3.6%Positive MonthAug 2022: +3.61% | -4.3%Negative MonthSep 2022: -4.29% | +5.2%Positive MonthOct 2022: +5.20% | +7.5%Positive MonthNov 2022: +7.51% | +1.2%Neutral MonthDec 2022: +1.15% |
| 2021 | -3.2%Negative MonthJan 2021: -3.19% | +10.3%Positive MonthFeb 2021: +10.35% | -2.7%Negative MonthMar 2021: -2.66% | -5.4%Negative MonthApr 2021: -5.45% | +7.4%Positive MonthMay 2021: +7.37% | -1.2%Neutral MonthJun 2021: -1.21% | -4.8%Negative MonthJul 2021: -4.82% | +10.9%Positive MonthAug 2021: +10.92% | +0.9%Neutral MonthSep 2021: +0.89% | -0.8%Neutral MonthOct 2021: -0.82% | -5.6%Negative MonthNov 2021: -5.61% | -0.9%Neutral MonthDec 2021: -0.92% |
| 2020 | -3.6%Negative MonthJan 2020: -3.60% | -4.0%Negative MonthFeb 2020: -3.97% | -26.8%Negative MonthMar 2020: -26.81% | +16.2%Positive MonthApr 2020: +16.23% | -5.0%Negative MonthMay 2020: -5.01% | +12.0%Positive MonthJun 2020: +12.00% | -3.1%Negative MonthJul 2020: -3.10% | +8.0%Positive MonthAug 2020: +8.04% | -3.3%Negative MonthSep 2020: -3.34% | +9.7%Positive MonthOct 2020: +9.73% | +21.7%Positive MonthNov 2020: +21.74% | -0.3%Neutral MonthDec 2020: -0.32% |
| 2019 | -2.0%Neutral MonthJan 2019: -1.97% | -0.1%Neutral MonthFeb 2019: -0.12% | +10.8%Positive MonthMar 2019: +10.84% | +0.6%Neutral MonthApr 2019: +0.64% | +4.7%Positive MonthMay 2019: +4.66% | +0.8%Neutral MonthJun 2019: +0.76% | -7.9%Negative MonthJul 2019: -7.86% | -1.1%Neutral MonthAug 2019: -1.05% | +10.2%Positive MonthSep 2019: +10.19% | +0.2%Neutral MonthOct 2019: +0.24% | +3.6%Positive MonthNov 2019: +3.62% | -0.2%Neutral MonthDec 2019: -0.22% |
| 2018 | +7.1%Positive MonthJan 2018: +7.12% | -6.1%Negative MonthFeb 2018: -6.06% | +0.1%Neutral MonthMar 2018: +0.10% | +3.1%Positive MonthApr 2018: +3.09% | +10.0%Positive MonthMay 2018: +10.04% | -1.4%Neutral MonthJun 2018: -1.45% | +3.4%Positive MonthJul 2018: +3.37% | -5.4%Negative MonthAug 2018: -5.43% | -2.7%Negative MonthSep 2018: -2.68% | -4.7%Negative MonthOct 2018: -4.70% | +11.3%Positive MonthNov 2018: +11.34% | -0.3%Neutral MonthDec 2018: -0.32% |
| 2017 | +6.7%Positive MonthJan 2017: +6.67% | +8.0%Positive MonthFeb 2017: +8.04% | +3.8%Positive MonthMar 2017: +3.77% | +7.2%Positive MonthApr 2017: +7.21% | +5.8%Positive MonthMay 2017: +5.80% | +1.0%Neutral MonthJun 2017: +0.97% | +8.0%Positive MonthJul 2017: +8.01% | -0.4%Neutral MonthAug 2017: -0.45% | +1.6%Neutral MonthSep 2017: +1.65% | +0.2%Neutral MonthOct 2017: +0.16% | +2.5%Positive MonthNov 2017: +2.50% | +1.0%Neutral MonthDec 2017: +1.01% |
| 2016 | β | β | β | β | +4.4%Positive MonthMay 2016: +4.38% | -0.5%Neutral MonthJun 2016: -0.46% | +5.9%Positive MonthJul 2016: +5.93% | +3.6%Positive MonthAug 2016: +3.61% | -1.4%Neutral MonthSep 2016: -1.42% | -1.1%Neutral MonthOct 2016: -1.08% | -4.7%Negative MonthNov 2016: -4.72% | +0.6%Neutral MonthDec 2016: +0.55% |
| AvgΒ±SD |
Each cell is the percentage change in closing price from the end of the prior month to the end of this month. The bottom row shows the average return for that calendar month across the selected years, plus or minus one standard deviation β the range that historically contained roughly two-thirds of outcomes. Past monthly patterns are not a forecast of future returns.
This aggregates every month by calendar position β all Januaries together, all Februaries together, and so on β to show whether a given month has leaned positive or negative historically. βSimpleβ counts each month as +1 or β1. βWeightedβ gives larger moves more influence: +2 above +10%, β2 below β10%. With only 11 years of history for this asset, each monthβs score reflects a small number of observations β read it as a historical tendency, not a reliable seasonal pattern.
This tracks a running tally across the assetβs full price history: each month adds or subtracts based on whether it was positive or negative. A rising line means more positive months than negative so far; a flattening or falling line means recent months have leaned negative. This measures historical month-to-month consistency, not expected future performance.
Year-to-date return is calculated by dividing each dayβs closing price by the price on January 1st of that year (or the assetβs first available price if it began trading mid-year). The custom average line shows the mean YTD return at each calendar day across the selected years. The standard deviation band shows the range within which returns have historically fallen β at 1 SD, roughly two-thirds of years; at 2 SD, roughly 95%. Past year-to-date patterns do not predict future returns. The average and standard deviation band are computed from the year set chosen in βAverage fromβ, which is independent of which year lines are displayed. The current in-progress year is excluded from these calculations, since a partial year is not comparable to complete ones. Election-cycle groupings follow the US presidential calendar and are offered only for US and crypto assets.
Historical Performance
Revenue, profitability, and cash flow trends (βΉ Crores)
Revenue (10Y)
Operating Income (10Y)
Net Profit (10Y)
Operating Margin % (10Y)
Dividend Payout % (10Y)
Free Cash Flow (10Y)
Growth Summary
Latest fiscal year: Mar 2025
Historical Growth
Year-by-year revenue, profitability, and cash flow (βΉ Crores, last 10 years)
| Year | Revenue | Op. Income | Net Profit | CFO | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|---|
| Mar 2025 | βΉ3.01 L Cr | β | βΉ67.35 K Cr | β | β | β | 16.3% | 10.7% |
| Mar 2024 | βΉ2.58 L Cr | β | βΉ60.81 K Cr | β | β | β | 59.9% | 37.9% |
| Mar 2023 | βΉ1.62 L Cr | β | βΉ44.11 K Cr | β | β | β | 26.5% | 19.3% |
| Mar 2022 | βΉ1.28 L Cr | β | βΉ36.96 K Cr | β | β | β | 5.7% | 18.8% |
| Mar 2021 | βΉ1.21 L Cr | β | βΉ31.12 K Cr | β | β | β | 5.3% | 18.5% |
| Mar 2020 | βΉ1.15 L Cr | β | βΉ26.26 K Cr | β | β | β | 16.0% | 24.6% |
| Mar 2019 | βΉ98.97 K Cr | β | βΉ21.08 K Cr | β | β | β | 23.3% | 20.5% |
| Mar 2018 | βΉ80.24 K Cr | β | βΉ17.49 K Cr | β | β | β | 15.8% | 20.2% |
| Mar 2017 | βΉ69.31 K Cr | β | βΉ14.55 K Cr | β | β | β | 15.1% | 18.3% |
| Mar 2016 | βΉ60.22 K Cr | β | βΉ12.30 K Cr | β | β | β | 24.2% | 20.4% |
Financial Statements
Income statement, balance sheet, and cash flow (βΉ Crores, as reported)
Consolidated Figures in USD Millions.
| Unnamed: 0 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 41,136 | 48,470 | 60,221 | 69,306 | 80,241 | 98,972 | 114,813 | 120,858 | 127,753 | 161,586 | 258,341 | 300,517 | 307,628 |
| Finance Costs | 22,653 | 26,074 | 32,630 | 36,167 | 40,146 | 50,729 | 58,626 | 55,979 | 55,744 | 74,743 | 149,808 | 177,847 | 181,919 |
| Total Expenses | 12,959 | 15,407 | 18,999 | 22,464 | 27,712 | 32,529 | 41,644 | 47,123 | 50,904 | 57,329 | 84,068 | 76,445 | 94,364 |
| Financing Profit | 5,524 | 6,989 | 8,592 | 10,676 | 12,383 | 15,714 | 14,542 | 17,757 | 21,105 | 29,513 | 24,464 | 46,225 | 31,344 |
| Financing Margin % | 13% | 14% | 14% | 15% | 15% | 16% | 13% | 15% | 17% | 18% | 9% | 15% | 10% |
| Other Income | 7,920 | 8,996 | 10,752 | 12,296 | 15,220 | 17,626 | 23,261 | 25,205 | 29,510 | 31,215 | 49,241 | 45,632 | 59,561 |
| Depreciation & Amortisation | 672 | 656 | 706 | 833 | 906 | 1,140 | 1,196 | 1,302 | 1,600 | 2,242 | 2,810 | 3,379 | 0 |
| Profit Before Tax | 12,772 | 15,329 | 18,638 | 22,139 | 26,697 | 32,200 | 36,607 | 41,659 | 49,015 | 58,485 | 70,895 | 88,478 | 90,906 |
| Tax % | 34% | 33% | 34% | 34% | 34% | 35% | 28% | 25% | 25% | 25% | 14% | 24% | - |
| Net Profit / PAT | 8,478 | 10,216 | 12,296 | 14,550 | 17,487 | 21,078 | 26,257 | 31,117 | 36,961 | 44,109 | 60,812 | 67,347 | 71,148 |
| EPS (βΉ) | 8.84 | 10.19 | 12.16 | 14.19 | 16.85 | 19.35 | 23.94 | 28.22 | 33.33 | 39.53 | 40.02 | 44.01 | 46.42 |
| Dividend Payout % | 19% | 20% | 20% | 19% | 19% | 19% | 5% | 12% | 23% | 24% | 24% | 25% | - |
Peer Comparison
Financials sector peers, ranked by market cap
| Company | Market Cap | Revenue | P/E | P/B | EV/EBITDA | Rev G 1Y |
|---|---|---|---|---|---|---|
| HDFC Bank Ltd.this co. | βΉ14.43 L Cr | βΉ3.01 L Cr | 20.30 | 2.78 | 0.00 | 16.3% |
| ICICI Bank Ltd. | βΉ10.28 L Cr | βΉ1.63 L Cr | 20.70 | 3.32 | β | 14.3% |
| State Bank Of India | βΉ9.49 L Cr | βΉ4.62 L Cr | 13.30 | 1.83 | β | 11.4% |
| Bajaj Finance Limited | βΉ5.91 L Cr | βΉ61.95 K Cr | 36.80 | 6.33 | β | 32.0% |
| LIFE INSURANCE CORPORATION OF INDIA | βΉ5.26 L Cr | βΉ8.87 L Cr | 10.30 | 3.73 | 9.87 | 5.2% |
| Kotak Mahindra Bank Ltd. | βΉ4.24 L Cr | βΉ52.92 K Cr | 31.70 | 3.39 | β | 15.5% |
| AXIS Bank Ltd. | βΉ3.92 L Cr | βΉ1.23 L Cr | 16.10 | 2.06 | β | 12.2% |
| Industry Average | β | βΉ30.80 K Cr | 45.91 | 4.87 | 70.91 | 14.6% |