amit@unlistedkraft.com
+91-9599071664
+91-9599071664
- Strong Parentage: HDFC Securities (HSL), a subsidiary of HDFC Bank with around a 95% stake, enhances the bank's service offerings. It benefits from customer sourcing, cross-selling opportunities, and access to HDFC Bank's retail clients and extensive branch network
- Established Player In Retail Broking: HSL is a full-service securities brokerage primarily focused on retail, with about 99% of its broking volumes in the first nine months of FY2024 coming from the retail segment. Its strong retail presence is bolstered by its status as a subsidiary of HDFC Bank.
- Increasing Gearing Ratio: HSL’s gearing ratio increased to 4.4x as of December 31, 2023, up from 2.9x on March 31, 2023, 2.8x on March 31, 2022, and 0.6x on March 31, 2020.
- Strong Market Position: HSL ranks among the top equity brokers by active clients, with 1.03 million active customers on the NSE as of June 30, 2023. It holds a market share of approximately 3.4% in active clients and has a stronger presence in the high-yielding cash segment.
- Profitability: HSL has maintained strong profitability, with a 4-year average net profit (PAT) to net operating income (NOI) ratio of 51.0% and a return on equity (RoE) of 47.6% between FY2020 and FY2023.
HDFC Securities Ltd
DRHP Status : Not Filed
10400
Current Price
10400
Market Cap
16873.60 Cr
ISIN
INE700G01014
Face Value
10
P/E Ratio
17.75
EPS
597.35
P/B Ratio
8.32
Book Value
1274.8
Debt to Equity Ratio
4.7
P&L Statement
| P&L Statement | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Revenue | 1368 | 1975 | 1874 | 2660 |
| Cost of Material Consumed | 0 | 0 | 0 | 0 |
| Gross Margins | 100 | 100 | 100 | 100 |
| Change in Inventory | 0 | 0 | 0 | 0 |
| Employee Benefit Expenses | 233 | 257 | 275 | 384 |
| Other Expenses | 131 | 214 | 222 | 340 |
| EBITDA | 1004 | 1504 | 1377 | 1936 |
| OPM | 73.39 | 76.15 | 73.48 | 72.78 |
| Other Income | 31 | 15 | 17 | 0 |
| Finance Cost | 53 | 156 | 296 | 600 |
| D&A | 36 | 42 | 57 | 64 |
| EBIT | 968 | 1462 | 1320 | 1872 |
| EBIT Margins | 70.76 | 74.03 | 70.44 | 70.38 |
| PBT | 945 | 1320 | 1042 | 1271 |
| PBT Margins | 69.08 | 66.84 | 55.6 | 47.78 |
| Tax | 242 | 336 | 265 | 320 |
| PAT | 703 | 984 | 777 | 951 |
| NPM | 51.39 | 49.82 | 41.46 | 35.75 |
| EPS | 444.94 | 622.78 | 491.77 | 595.49 |
Financial Ratios |
2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Operating Profit Margin | 73.39 | 76.15 | 73.48 | 72.78 |
| Net Profit Margin | 51.39 | 49.82 | 41.46 | 35.75 |
| Earning Per Share (Diluted) | 444.94 | 622.78 | 491.77 | 595.49 |
Balance Sheet
| Assets | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Fixed Assets | 60 | 76 | 80 | 62 |
| CWIP | 10 | 3 | 28 | 5.5 |
| Investments | 250 | 258 | 1227 | 1018 |
| Trade Receivables | 439 | 506 | 407 | 1286 |
| Inventory | 0 | 0 | 0 | 0 |
| Other Assets | 4000 | 7079 | 6526 | 11731.5 |
| Total Assets | 4759 | 7922 | 8268 | 14103 |
| Liabilities | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Share Capital | 15.8 | 15.8 | 15.8 | 15.97 |
| FV | 10 | 10 | 10 | 10 |
| Reserves | 1464 | 1642 | 1781 | 2013 |
| Borrowings | 2040 | 4619 | 4619 | 9532 |
| Trade Payables | 1040 | 1420 | 982 | 2174 |
| Other Liabilities | 199.2 | 225.2 | 870.2 | 368.03 |
| Total Liabilities | 4759 | 7922 | 8268 | 14103 |
| Name | Holding |
|---|---|
| HDFC Bank Limited | 95.13% |
| Others | 4.87% |
HDFC Securities Limited is a financial services intermediary and a subsidiary of HDFC Bank a private sector bank in India. It is one of the leading stock broking companies in India and has completed 20 years of operation. HDFC securities were founded in the year 2000 and are headquartered in Mumbai with branches across major cities and towns in India. HDFC securities began operations in April 2000. In the beginning, it was a joint venture between HDFC Bank Limited, HDFC Limited, and Indocean eSecurities Holdings Limited.
+91-9599071664
amit@unlistedkraft.com