Core earnings growth remains modest at ~5% PAT growth with stable NIMs. Monitor deposit franchise momentum and credit cost trajectory in coming quarters for signs of acceleration or deterioration.
Price Chart
Executive Summary
HDFC Bank reported Q2 FY2027 standalone results with net profit of ₹195.1 billion, up 4.7% YoY, and net interest income growth of 9.7% to ₹346.2 billion. Asset quality improved with gross NPA ratio declining to 1.11% from 1.24% a year ago, while deposits grew 18.8% YoY. The results reflect steady core performance with modest earnings growth and stable margins.
Key Facts
- Standalone PAT for Q2 Sep 2026: ₹195.1 billion, +4.7% YoY from ₹186.4 billion
- Net interest income: ₹346.2 billion, +9.7% YoY
- Net interest margin: 3.16% on total assets, 3.32% on interest earning assets
- Gross NPA ratio improved to 1.11% from 1.24% YoY; Net NPA at 0.37%
- Total deposits grew 18.8% YoY to ₹33,274 billion; CASA ratio at 31.6%
- Gross advances grew 16.3% YoY to ₹32,195 billion
- Capital adequacy ratio at 18.87% vs regulatory requirement of 11.9%
- Consolidated PAT for Q2: ₹207.0 billion
Financial Impact
Standalone PAT growth of 4.7% YoY to ₹195.1 billion; NII growth of 9.7% YoY; credit cost ratio at 0.44%
Risk Factors
- NIM compression risk if deposit repricing outpaces loan repricing in a competitive rate environment
- Treasury trading gains declined sharply to ₹7.8 billion from ₹23.9 billion YoY, reducing other income
- Regulatory action on DIFC branch remains unresolved, though deemed immaterial
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001193125-26-424680 |
| Document: d166042d6k.htm | 0001193125-26-424680 |
| Document: 0001193125-26-424680-index-headers.html | 0001193125-26-424680 |
| Document: 0001193125-26-424680-index.html | 0001193125-26-424680 |
| Document: 0001193125-26-424680.txt | 0001193125-26-424680 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 1d ago | 6-K | $21.71 | awaiting T+5 | — | $21.36 (−1.61%) |
Oct 22, 2026 5d ago | 6-K | $22.44 | awaiting T+5 | — | $21.36 (−4.81%) |
Oct 21, 2026 6d ago | Institutional Cluster | $22.44 | awaiting T+5 | — | $21.36 (+4.81%) |
Oct 19, 2026 8d ago | 6-K | $23.08 $21.71 | ▼ −5.94% | ▼ −5.79% | $21.36 (−7.45%) |
Oct 19, 2026 8d ago | 6-K | $23.08 $21.71 | ▼ −5.94% | ▼ −5.79% | $21.36 (−7.45%) |
Oct 14, 2026 13d ago | 6-K | $22.63 $22.67 | ▲ +0.18% | ▼ −0.28% | $21.36 (−5.61%) |
Oct 8, 2026 19d ago | 6-K | $22.01 $23.53 | ▲ +6.91% | ▲ +7.18% | $21.36 (−2.95%) |
Oct 5, 2026 22d ago | 6-K | $22.11 $22.58 | ▲ +2.13% | ▲ +1.70% | $21.36 (−3.39%) |
Oct 2, 2026 25d ago | 6-K | $22.34 $22.28 | ▼ −0.27% | ▼ −1.43% | $21.36 (−4.39%) |
Oct 1, 2026 26d ago | 6-K | $22.95 $22.01 | ▼ −4.10% | ▼ −5.40% | $21.36 (−6.93%) |
US Market Status
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