HDFC Bank Limited

HDFCBANK.NS

Banks - Regional · Financial Services

Exchange

National Stock Exchange of India

Winston Score

Winston is curious

Mixed quality — meaningful strengths and weaknesses.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Growth

Good

Valuation

Strong

Dividends

Strong

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Winston Score History

The full picture

HDFC Bank is one of India's largest private sector banks. It offers everyday banking services like savings accounts, loans, credit cards, and insurance to hundreds of millions of individual customers and businesses across India. It also serves large corporations with services like trade finance and treasury products.

The bank makes money primarily through interest income — it collects more in interest on loans than it pays out on deposits — and also earns fees from credit cards, transaction processing, and financial products. HDFC Bank operates almost entirely within India, with a massive network of thousands of branches and ATMs spread across urban and rural areas. Its large customer base, strong brand, and digital banking platform give it a durable competitive position in a fast-growing market. The key growth driver is India's expanding middle class and low overall banking penetration, though rising credit costs or a slowdown in India's economy could pressure profitability.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-16.9% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+7.4% YoY

YoY Growth Rate

Slow EPS growth

Insider Activity

0.4%ownership

Relatively low insider ownership

Cash Position

Cash flow positive

₹46.4T cash & investments

Company generates more cash than it spends — no dilution risk from fundraising

Revenue declining

HDFC Bank Limited's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Bank Quality

Not applicable for this business.

Growth

Sales growth

Sales YoY

+10.1%

Steady sales growth (+10.1% YoY)

Profit growth

EPS YoY

+11.2%

Earnings growing (+11.2% YoY)

Healthy double-digit earnings growth — what compounders look like.

How steady the profit is

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

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Capital Strength

Not applicable for this business.

Asset Quality

Not applicable for this business.

Valuation

Price vs profit

P/E Ratio (TTM)

14.1x

no trend

Attractive valuation — P/E 14.1

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year

P/E vs Forward

+2.3

GROWING

Earnings expected to grow — slightly cheaper on forward P/E

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Dividends

Dividend

Dividend Yield

2.10%

no trend

Moderate income — 2.10% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend record

Dividend Growth

+29.3%

no trend

Dividend growing fast (29.3% YoY)

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