- CIN
- —
- ISIN
- INE700G01014
- Incorporated
- —
- Registered state
- —
Key valuation
- Market cap
- ₹1.42 L Cr
- P/E
- 153.3x
- Debt / equity
- 0.6x
- Shares outstanding
- 17,87,00,000
Prices shown are indicative, dealer-quoted and updated periodically — they are not exchange-traded prices and may differ from the price at which a transaction is finally executed.
Price history
Dated dealer-quote averages, plotted on a true time scale. There is no continuous trading behind these numbers.
Business overview
HDFC Securities has been around since April 2000, which in Indian broking terms makes it fairly old. It began as a joint venture between HDFC Limited, Indocean eSecurities Holding Ltd and HDFC Bank Ltd. Today it is a wholly owned subsidiary of HDFC Bank. The business is broking plus distribution. Mutual funds, fixed deposits, insurance, bonds and the rest of the usual investment shelf. It acts as the broking and distribution arm for the HDFC Group and holds corporate membership of both the BSE and NSE. The customer base runs upward of 2.7 million. There is a physical network too, more than 216 branches across 159 cities and towns, which not every broker bothers with anymore. Online platforms, mobile apps and phone based trading sit alongside it. Plenty of customers still want a branch they can walk into and thats the thinking behind keeping both.
Key highlights
- Incorporated in April 2000
Financial snapshot
FY2026
- Revenue FY2026
- ₹3,107.49 Cr
- EBITDA
- ₹2,131.31 Cr
- PAT
- ₹926.58 Cr
- Net worth
- ₹3,592.56 Cr
- Total debt
- ₹2,182.55 Cr
- Cash & equivalents
- ₹1,794.05 Cr
- Operating cash flow
- ₹-3,041.43 Cr
- EPS
- ₹51.85
Reported financials · FY2018–FY2026
Figures in ₹ crore unless stated.
| Particulars | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | YoY | CAGR |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Profit & loss | |||||||||||
| Revenue from operationsYoY -4.8%CAGR +18.5% | 800 | 771 | 857 | 1,368 | 1,976 | 1,891 | 2,660 | 3,264 | 3,107 | -4.8% | +18.5% |
| Other income | 0 | 0 | 5 | 31 | 15 | 0 | 1 | 1 | 3 | — | — |
| Total expenses | 275 | 275 | 353 | 454 | 670 | 850 | 1,389 | 1,769 | 1,877 | — | — |
| EBITDAYoY -9.3%CAGR +18.7% | 540 | 514 | 563 | 1,004 | 1,504 | 1,395 | 1,935 | 2,350 | 2,131 | -9.3% | +18.7% |
| Depreciation & amortisation | 15 | 19 | 30 | 36 | 42 | 57 | 64 | 70 | 83 | — | — |
| EBIT | 525 | 495 | 533 | 967 | 1,462 | 1,337 | 1,871 | 2,280 | 2,048 | — | — |
| Finance cost | 0 | 0 | 29 | 53 | 156 | 296 | 601 | 785 | 817 | — | — |
| Profit before taxYoY -17.5%CAGR +11.3% | 525 | 495 | 509 | 946 | 1,320 | 1,042 | 1,271 | 1,496 | 1,234 | -17.5% | +11.3% |
| Tax expense | 180 | 165 | 125 | 242 | 336 | 265 | 321 | 371 | 307 | — | — |
| Profit after taxYoY -17.6%CAGR +13.2% | 345 | 330 | 384 | 703 | 984 | 777 | 951 | 1,124 | 927 | -17.6% | +13.2% |
| Earnings per share | ₹19.29 | ₹18.46 | ₹21.50 | ₹39.35 | ₹55.08 | ₹43.49 | ₹53.21 | ₹62.92 | ₹51.85 | — | — |
| Balance sheet | |||||||||||
| Net worthYoY +7.3%CAGR +16.8% | 1,037 | 1,194 | 1,248 | 1,480 | 1,658 | 1,797 | 2,029 | 3,348 | 3,593 | +7.3% | +16.8% |
| Total debt | 0 | 0 | 691 | 2,040 | 4,619 | 996 | 0 | 202 | 2,183 | — | — |
| Current liabilities | — | — | — | — | 6,114 | 6,329 | 11,997 | 10,586 | 18,068 | — | — |
| Fixed assets | 61 | 63 | 117 | 87 | — | — | — | — | — | — | — |
| Cash & equivalents | 265 | 195 | 983 | 599 | 1,318 | 392 | 798 | 831 | 1,794 | — | — |
| Current assets | — | — | — | — | 7,693 | 8,010 | 13,785 | 13,669 | 21,357 | — | — |
| Total assetsYoY +55.3%CAGR +37.7% | 1,683 | 2,037 | 2,771 | 4,759 | 7,923 | 8,277 | 14,103 | 14,031 | 21,784 | +55.3% | +37.7% |
| Cash flow | |||||||||||
| Operating activities | 671 | -281 | 143 | -937 | -862 | 371 | -2,747 | 2,381 | -3,041 | — | — |
| Investing activities | -445 | 392 | 328 | -255 | -58 | -973 | 207 | -138 | -1,675 | — | — |
| Financing activities | -151 | -181 | 316 | 808 | 1,589 | -323 | 2,946 | -2,210 | 5,679 | — | — |
| Net change in cash | 75 | -70 | 787 | -384 | 669 | -926 | 406 | 33 | 963 | — | — |
Revenue, EBITDA and PAT
₹ crore. A year with no reported figure is left out rather than drawn as zero.
- Revenue
- EBITDA
- PAT
Every ratio here is worked out from the reported figures in the Financials tab, and valuation multiples from the indicative price in the header. Nothing is a stored value. A ratio the filings cannot support (a line not reported, or a zero or negative base) is left out or shown as —, never as a misleading number. Balance-sheet ratios use year-end figures.
Valuation multiples
What the indicative price pays for the latest year's earnings, book and cash. On FY2026 figures and the ₹7,950 indicative price.
- Market cap
- ₹1.42 L Cr
- Enterprise value
- ₹1.42 L Cr
- Price / earnings (P/E)
- 153.32x
- Price / book (P/B)
- 39.54x
- Price / sales (P/S)
- 45.72x
- EV / EBITDA
- 66.84x
- EV / EBIT
- 69.54x
- EV / sales
- 45.84x
- Earnings yield
- 0.7%
- Cash / market cap
- 1.3%
How these are worked out
- Market cap
- Indicative price × shares outstanding
- Enterprise value
- Market cap + debt − cash
- Price / earnings (P/E)
- Market cap ÷ PAT (profitable years only)
- Price / book (P/B)
- Market cap ÷ net worth
- Price / sales (P/S)
- Market cap ÷ revenue from operations
- EV / EBITDA
- Enterprise value ÷ EBITDA
- EV / EBIT
- Enterprise value ÷ (EBITDA − depreciation)
- EV / sales
- Enterprise value ÷ revenue from operations
- Earnings yield
- PAT ÷ market cap
- Cash / market cap
- Cash & equivalents ÷ market cap
IPO / listing status
The company has not announced IPO details such as a DRHP filing, an expected window or its bankers. This section will update once it does.
Research & news
Information currently unavailable
Nothing has been published on HDFC Securities yet. Research, news and articles tagged with it will appear here when they are.
Documents
Information currently unavailable
No documents have been catalogued for this company yet.