HDFC Bank Limited (HDB)

NYSE: HDB · Commercial Banks, NEC · India, IN · filing with the SEC since 2002

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Grade5.1

◀ Past 5.1● Present 5.4▶ Future 4.8

1 est.

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The grade of HDFC Bank Limited

Nine metrics read from its own filings, by tense

Headline grade

5.1/10

◀ Past5.140% of the headline

● Present5.435% of the headline

▶ Future4.825% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 8 read as filed from the record and 1 is an SI estimate, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

5.1/1040% of the headline grade · 3 of 3 filed

Surviving crises

as filed

5.9/10

Has it survived what it has been through?

No warning events in its filings since 2017.

weight 45% of this tense · 59th percentile among 33 sector filers · read for itself

From the record

HDFC Bank Limited's filings since 2017 show no warning events in the scan: no bankruptcy or receivership notice, no debt default notice, no exchange listing notice, no restatement warning, no auditor change, no material cyber incident and no late-report notice (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed

7.8/10

What has it actually done, year after year?

+21.9% a year over 10 filed years; profitable in 10 of 10.

weight 22% of this tense · 78th percentile among 22 sector filers · read for its customers

From the record

HDFC Bank Limited's 10 filed years say what it did: revenue went from INR 368 billion in fiscal 2016 to INR 2190 billion in fiscal 2025, up 21.9% a year; it rose in 9 of 9 years; it never fell from a peak; net income was positive in 10 of 10 of those years (its annual reports).

What it rests on

revenue growth over the filed span21.9%top 20% of its family
the share of years revenue rosetop 14% of its family
the share of filed years with a profittop 40% of its family
the deepest fall from a revenue peak0.0%top 14% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

as filed

2.3/10

How has it treated the people who own it?

Share count grew 11.2% a year. 12% of cash flow returned. Insiders: 4 sales, 0 purchases.

weight 33% of this tense · 23rd percentile among 29 sector filers · read for its shareholders

From the record

Over the 3 fiscal years to 2025-03-31, HDFC Bank Limited's diluted share count grew about 11.2% a year, and dividends and buybacks returned about 12% of its operating cash flow over 3 years (its filed statements). Its officers and directors filed 4 sales and 0 purchases of their own stock on the open market in the year to 2026-09-30 (their Form 4 filings).

What it rests on

the share count over the yearsbottom 2% of its family
cash returned against operating cash flowbottom 44% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

● Present

What are they doing right now?

5.4/1035% of the headline grade · 2 of 3 filed, 1 estimated

Financial health

as filed

3.8/10

Is it financially healthy right now?

ROE 8%: 8¢ of profit per shareholder dollar. Leverage 82%: owes 82¢ per asset dollar.

weight 45% of this tense · 38th percentile among 31 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-03-31, HDFC Bank Limited earned about 8 cents of profit for every dollar of shareholders' money. Leverage: it owed about 82 cents per dollar of assets, and net share issuance: its share count grew 7.8% over the year (the filed statements).

What it rests on

what it owes per dollar of assetstop 8% of its family
return on equitybottom 15% of its family
the share count against the year beforebottom 9% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed

7.7/10

How strong is its position in its industry?

top 23% of 21 in its family; net margin 30.8%.

weight 33% of this tense · 77th percentile among 21 sector filers · read for its customers

From the record

HDFC Bank Limited's standing among 21 graded names in its industry family: revenue of INR 2190 billion in fiscal 2025 is not ranked by size, since the family reports in another currency; a net margin of 30.8% ranks in the top 30%; revenue growth of 34.9% a year over the last 3 filed years ranks in the top 16% (its annual reports).

What it rests on

net margin30.8%top 30% of its family
three-year revenue growth34.9%top 16% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

SI estimate

5.0/10

What are the people in charge doing?

SI estimate 5.0/10, confidence 15 of 100 (universe median).

weight 22% of this tense · 50th percentile among 3816 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate: It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-17 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 8 months and cannot see past it; a floor under five years is not read as years in charge, and its family carries too few readings to lean on, so the desk assumes the typical reading over all 3816 companies with one.
What the record cannot read: It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-17 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 8 months and cannot see past it; a floor under five years is not read as years in charge.
How it was reasoned: universe median, 3816 readings behind it.
Confidence: 15 of 100
What would change it: Its next annual report on file with the inputs replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: HDFC Bank Limited's leadership is put at 5.0 of 10 with a confidence of 15 of 100, because it files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-17 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 8 months and cannot see past it; a floor under five years is not read as years in charge, and its family carries too few readings to lean on, so the desk assumes the typical reading over all 3816 companies with one. Its next annual report on file with the inputs replaces this estimate with the filed reading.

▶ Future

What are they set up to do next?

4.8/1025% of the headline grade · 3 of 3 filed

Room to expand

as filed

4.0/10

How much room does it have to grow?

bottom 40% of 19 in its family for room to expand.

weight 33% of this tense · 40th percentile among 19 sector filers · read for itself

From the record

HDFC Bank Limited's room to grow, from the newest filed statements (fiscal 2025): cash of INR 1983 billion against debt of INR 5866 billion leaves -8.1% of its assets as net cash, bottom 8% of its family; cash from operations less capital spending is 51.6% of revenue (top 29%) (its annual report).

What it rests on

cash less debt against assets-8.1%bottom 8% of its family
cash from operations less capital spending against revenue51.6%top 29% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed

7.5/10

What could actually drive growth from here?

top 25% of 22 in its family for growth drivers.

weight 33% of this tense · 75th percentile among 22 sector filers · read for its customers

From the record

HDFC Bank Limited's growth drivers, from the filed years to fiscal 2025: revenue grew 34.9% a year over the last three filed years against 21.9% over all 10, speeding up (top 7% of its family); the newest year grew 18.2% (top 25%); capital spending grew 36.1% a year (top 44%) (its annual reports). HDFC Bank Limited reported 5 lines of business in fiscal 2026: Retail Banking at INR 1237 billion (53%), Insurance Services at INR 693 billion (30%), Wholesale Banking at INR 284 billion (12%), and 2 more; 4 of 5 grew against the year before (its annual report).

What it rests on

three-year growth against the whole span+12.9 points a yeartop 7% of its family
the newest year's revenue growth18.2%top 25% of its family
three-year growth of capital spending36.1%top 44% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed

3.1/10

Did its newest year beat what its own record pointed to?

bottom 31% of 20 in its family for expectations against reality.

weight 33% of this tense · 31st percentile among 20 sector filers · read for its shareholders

From the record

HDFC Bank Limited's newest year against its own record: revenue of INR 2190 billion in fiscal 2025 came in 18% below the INR 2671 billion its prior three years' pace pointed to (bottom 24% of its family); net income of INR 674 billion against a prior three-year average of INR 501 billion (top 37%); a net margin of 30.8% against 40.2% before (bottom 8%) (its annual reports).

What it rests on

revenue against the prior three years' pace-18.0%bottom 24% of its family
net income against the prior three years' average+34%top 37% of its family
net margin against its prior average-9.5 pointsbottom 8% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton HDB · research, not advice