HDB Financials Unlisted Shares Results

1. For the quarter that ended September 30, 2022, HDB Financial's net revenue was at 2~200 crore as against ~1900 crore for the quarter that ended September 30, 2021, a growth of 14.9%.

2. Profit after tax for the quarter that ended September 30, 2022, was ~470 crore compared to ~191 crores for the quarter that ended September 30, 2021.

3. The total loan book of HDB Financials was 63,112 crores as on September 30, 2022.

4. Gross NPA was at 4.88% of gross loans.

5. As on September 30, 2022, the total Capital Adequacy Ratio was at 20.8% with Tier-I CAR at 16.0%.

6. As on September 30, 2022, HDB Financials had 1,407 branches across 1,009 cities/towns.

7. Considering that HDB Financial Unlisted Share is currently trading at 620 per share on the unlisted market, the P/B is 4.69x, which is a fair price.

HDFC Securities Unlisted Shares Results

1. For the quarter that ended September 30, 2022, HDFC Securities' total revenue was at 468 crores, as against 489 crores for the quarter that ended September 30, 2021. There is a drop of 5% in revenue as compared to last year.

2. Profit after tax for the quarter was at ~190 crores, as against 240 crores for the quarter that ended September 30, 2021. There is a drop of 20% in revenue as compared to last year.

Conclusion

In summary, we can say that while HDB Financial's results are strong, HDFC Securities' performance in the second quarter was disappointing.