HDFC Securities Ltd
- Unlisted share
- Capital Markets
- ISIN INE700G01014
At a glance
Sales
FY26
₹3,107 Cr
−4.8%on FY25What the company earned from its customers in the year.
Profit
FY26
₹927 Cr
−17.6%on FY25What was left after every cost and tax was paid.
Market valuecalculated
₹13,537 Cr
What the whole company would be worth at GrowFast's indicative price.
Net worth
FY26
₹3,593 Cr
What the owners would have left on paper if every debt was repaid.
From the company's published figures; sources are beside each figure further down the page.
Key details
- Company
- HDFC Securities Ltd
- ISIN
- INE700G01014
- Sector
- Capital Markets
- Type of share
- Unlisted equity share
- Indicative price per share
- ₹7,573.50
- Price last updated
- 12 Oct 2026
- Minimum quantity
- Confirmed by the desk
- How you hold it
- In your own demat account
- Enquiries
- GrowFast desk, on WhatsApp
Indicative prices, illiquid shares. Prices are indicative and can change without notice. Unlisted shares are illiquid: you may not be able to sell when you want to, or at the price shown.
Company
About HDFC Securities Ltd
HDFC Securities is a stock broking and investment services firm that offers equity, derivatives and mutual fund trading, margin funding and distribution of financial products to retail and institutional clients. It is a subsidiary of HDFC Bank, which held about 94% of its shares at 31 March 2026; the rest is held mainly by employees and other shareholders. Its equity is unlisted, though its commercial paper is listed on BSE.
Written from: hdfcsec.com
Listing status. Equity shares are not listed; the company describes itself as a public company listed in the debt market on BSE (its commercial paper). No equity IPO filing found. HDFC Securities Limited Annual Report 2025-26
Financials
Ask for the full annual report.
The figures on this page are the headline numbers. The desk can share the latest annual report and anything published since.
Ask for the financials- Sector
- Capital Markets
- ISIN
- INE700G01014
- Registered office
- Mumbai, Maharashtra
- Parent / promoter
- HDFC Bank Limited (94.01% as at 31 March 2026)
- Key people
- Chairperson: Neeraj Swaroop; MD & CEO: Dhiraj Relli; CFO: Anand Mathur
- Face value per share
- ₹10
- Equity shares outstanding
- 1,78,74,109 shares
- CIN
- U67120MH2000PLC152193
- Website
- hdfcsec.com
Read from: HDFC Securities Limited Annual Report 2025-26, unless another source is shown on a card.
Key data
What the numbers mean
The ratios buyers look at, each said in plain words.
Price to earnings (P/E)calculated
14.6×
At this price you pay ₹14.6 for every ₹1 of profit the company made in the year.
Price to book (P/B)calculated
3.77×
At this price you pay ₹3.77 for every ₹1 of net worth on the company's books.
Profit margincalculated
29.8%
Out of every ₹100 of sales, ₹29.8 was left as profit.
Return on equitycalculated
25.8%
For every ₹100 of the owners' money, the company made ₹25.8 of profit in the year.
Debt to equitycalculated
4.21×
The company has borrowed ₹4.21 for every ₹1 of its owners' money.
Lenders and finance companies normally borrow far more than other businesses.
- Indicative price
- ₹7,573.50
- Market valuecalculated
- ₹13,537 Cr
- price × shares
- No. of shares
- 1,78,74,109
- EPS
- ₹519.75
- Book value per share
- ₹2,009.92
- Face value
- ₹10
Figures marked “calculated” are worked out by GrowFast from its indicative price and the company's published figures for FY2025-26. They move with the price, and they are arithmetic, not a valuation.
Figures in ₹ crore
Financials
HDFC Securities Limited. As published in the company's audited reports. GrowFast has not audited them.
Sales, year by year
₹ crore. The darkest bar is the latest year.
FY23 to FY26: ₹1,891 Cr to ₹3,107 Cr.
Profit, year by year
₹ crore, after tax. A bar below the line is a loss.
FY23 to FY26: ₹777 Cr to ₹927 Cr.
| Particulars | FY23 | FY24 | FY25 | FY26Latest |
|---|---|---|---|---|
| Total revenue from operations | 1,891.27 | 2,660.12 | 3,263.8 | 3,107.49▼5% |
| Other income | 0.36 | 0.61 | 0.75 | 2.73▲264% |
| Total income | 1,891.63 | 2,660.73 | 3,264.55 | 3,110.22▼5% |
| Depreciation, amortisation and impairment | 57.45 | 63.92 | 69.62 | 82.87▲19% |
| Finance costs | 295.88 | 600.5 | 785.45 | 817.48▲4% |
| Profit before tax | 1,041.9 | 1,271.43 | 1,495.59 | 1,233.69▼18% |
| Profit after tax (profit for the year) | 777.22 | 950.89 | 1,124.46 | 926.58▼18% |
| Earnings per share (basic) (₹) | 490.22 | 597.41 | 637.51 | 519.75▼18% |
Rupees crore unless marked, standalone, consolidated. The change shown is the latest year against the year before. Read from: HDFC Securities Limited Annual Report 2023-24, HDFC Securities Limited Annual Report 2025-26.
Credit rating. [ICRA]AAA (Stable) on ₹300 crore long-term bank lines and [ICRA]A1+ on ₹13,000 crore commercial paper programme (reaffirmed) (18 March 2026) ICRA rating rationale, HDFC Securities Limited, 18 March 2026
Ownership
Shareholding pattern
Who owns the company
94.0%HDFC Bank Limited (promoter / holding company)
- Largest holder
- 94.0%
- Top 1 together
- 94.0%
- Holders named
- 1
- HDFC Bank Limited (promoter / holding company)94.01%
- Total94.01%
Capital history
Fund raise history
| Date and detail | Type | Instrument | Price per share | Amount raised |
|---|---|---|---|---|
| FY2025-261,02,140 equity shares allotted to employees on exercise of stock options during FY2025-26. | ESOP allotment | Equity shares | Not stated | Not stated |
| FY2024-2516,84,781 equity shares were issued under a rights issue during FY2024-25; the annual report read does not give the price. ICRA notes HDFC Bank put in about ₹1,000 crore in that rights issue in Q1 FY2025. | Rights issue | Equity shares | Not stated | Not stated |
Leadership
Management
Neeraj Swaroop
Independent Director and Chairperson of the Board
Dhiraj Relli
Managing Director & CEO
Anand Mathur
Chief Financial Officer
Ashish Rathi
Chief Operating Officer, Whole Time Director
Mitul Palankar
Company Secretary and Head - Legal
Almira Dsouza
Chief Compliance Officer
Mangalam Ganesh
Chief Technology Officer
Corporate calendar
Events
- 18 Mar 2026Rating actionICRA reaffirmed [ICRA]AAA (Stable) / [ICRA]A1+Open
- 15 Mar 2026DividendFourth interim dividend of ₹125 per share for FY2025-26 declaredOpen
- 15 Dec 2025DividendThird interim dividend of ₹100 per share for FY2025-26 declaredOpen
- 18 Sept 2025DividendSecond interim dividend of ₹90 per share for FY2025-26 declaredOpen
- 17 Jun 2025DividendFirst interim dividend of ₹100 per share for FY2025-26 declaredOpen
- 18 Mar 2025Board changeAshish Rathi appointed Whole-Time Director for three yearsOpen
- 1 Oct 2024SubsidiaryHDFC Securities IFSC Limited incorporated in GIFT City as a subsidiaryOpen
Reports and filings
Annual reports and results
Each link opens the document where its publisher keeps it.
Before you buy
Six things to check on any unlisted share.
The same list applies to every stock. None of it is advice on this one.
The company's latest financials
Revenue, profit and debt for the last three years, from its audited annual report. Ask the desk for the most recent set.
What the price implies
Compare the price per share with earnings and book value per share, and with listed companies in the same business.
Whether a listing is planned
A company may file for an IPO, delay it or never list. A listing, its timing and its price are never certain.
How you would sell
There is no exchange for these shares. You sell by finding a buyer, which can take time and may be at a lower price.
Lock-in after a listing
Shares bought before an IPO are usually locked in for a period after the company lists. Confirm the current rule before you buy.
Tax on your gains
Unlisted shares are taxed differently from listed ones. Check your position with a tax adviser.
Questions
What buyers ask about this stock.
Not answered here? Ask the desk.
Inquire about HDFC Securities Ltd on WhatsAppIs the price shown for HDFC Securities Ltd final?
No. It is an indicative price per share. The desk confirms the price and the quantity available when you inquire, and the confirmed price is the one you deal at.
How do I buy these shares?
Press Inquire. It opens a WhatsApp chat with the desk, with this stock already named. After the price and quantity are agreed, a 10% advance locks the deal. Once your KYC is complete you pay the balance, and the shares are transferred to your demat account.
Do I pay anything on this website?
No. No payment is taken and no order is placed on this site. Payment details are shared by the desk only after the deal is agreed.
What do I need before I can buy?
A demat account in your name and the documents for KYC: your identity and demat account details are verified before any deal, as the regulations require.
Can I sell my HDFC Securities Ltd shares to GrowFast?
GrowFast buys as well as sells. Press Inquire and tell the desk how many shares you hold; it will come back with what it can offer.
How do I sell HDFC Securities Ltd shares I already hold?
Tell the desk how many you hold. If a price is agreed, you transfer the shares from your demat account with a delivery instruction to your depository participant (a DIS, or its online equivalent), and payment follows as agreed with the desk.
Is there a lock-in if the company lists?
Shares held before an IPO are generally locked in for a period after the listing under SEBI's rules, which have changed over time. Ask the desk for the rule that applies today before you buy.
Is buying unlisted shares legal in India?
Yes. Shares of an unlisted company can be bought and sold privately and are transferred between demat accounts. They are not traded on a stock exchange, so the protections of an exchange do not apply.
What is the minimum I can buy?
It differs by stock and by what the desk holds at the time. The desk confirms the minimum quantity when you inquire.
What is an ISIN?
The 12-character code that identifies a security. It is how your depository knows exactly which share is being transferred to your demat account.
Why are unlisted shares riskier than listed ones?
Prices are indicative and can change without notice. Unlisted shares are illiquid: you may not be able to sell when you want to, or at the price shown.
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Risk disclosure
Prices on this site are indicative, quoted per share, and are not an offer to buy or sell. The price and quantity for any deal are confirmed by GrowFast's desk at the time you deal.
Unlisted, pre-IPO and delisted shares are not traded on a stock exchange. They are illiquid, their prices can move sharply, and you may be unable to sell them when you wish or at all. A company that is expected to list may not do so.
Nothing on this site is investment advice or a promise of returns. Past prices do not predict future prices. Consider your own circumstances, and take independent advice, before you invest.
Inquire opens a WhatsApp chat with GrowFast. No payment is taken and no order is placed on this site.
GrowFast is not affiliated with, sponsored by or endorsed by HDFC Securities Ltd. Its name and logo belong to their owner and are shown only to identify the company. Figures about it come from published sources and have not been audited by GrowFast. See the Terms and Conditions.