HDFC Securities Unlisted Shares

HDFC Securities Limited

HDFC securities Limited is one of the popular financial services intermediary and a subsidiary of HDFC Bank, a private sector bank in India . This is one of the most leading stock broking companies in India and still now have completed 18 years of operation. HDFC securities was established in 2000 and is headquartered in Mumbai with lots of branches across major all cities and towns in India.

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CHALLENGES OF COVID-19

The advent of the deadly virus has made us introspect about the ways we were continuing with our lives – be it professional or personal. We started to look at those aspects that we may have taken for granted or have been the subject of neglect – our health and spending quality time with families (a harsh truth though it may be!). This pandemic has made us realise the importance of having a healthy lifestyle as well as taking some time out to focus on ourselves. HR at HDFC securities, made a conscious effort to ensure that all our employees are given appropriate support to deal with the stress of being confined to their homes along with maintaining positivity – both for themselves and their families. All the members of the HR team made the best use of having interactive webinars with our employees, making sure that as a brand, a continuous message of hope is relayed to them. We have engaged with experts who gave valuable insights on financial and mental well-being, conducted sessions on yoga, stress management – to name a few. An online talent show was also conducted by HR, providing a platform for our employees to showcase their skills – be it music, painting or poetry.
Keeping the constraints of the pandemic and the importance of training for our employees in mind, HR migrated all learning and development modules to an online mode i.e. now training at HDFC securities is 100% digital with online learning journeys for employees at all levels. This has greatly helped our employees to move up the growth curve in terms of product and service understanding, while providing quality customer experience from the safety of their homes. Through the digital learning and development platform, our employees have completed 1.76 lakh hours of training.

BUSINESS OVERVIEW
Every organisation has a framework of doing business, a fabric that binds the core. At HDFC securities, we have a huge responsibility towards our customers and of meeting
their expectations at all times. We will only be able to succeed if we are disciplined, and obsessed with customer service and satisfaction. Hence, for our present and future, we have laid down the five pillars of our service to customers which would reflect at all levels of our service delivery.

Simplicity – Simplifying our products, research, client conversations, and platform experiences.

Sincerity – Being sincere in our attitude towards helping our clients, practicing fair business, helping our customers mitigate risk, and accountability for all our responsibilities.

Speed – Focusing on digital excellence, speedy resolution of customer grievance, and immediate adoption of course corrective measures.

Solution – Providing solutions pertaining to customer needs and resolving roadblocks to achieve optimum business performance.

Synergy – Collectively working as a team to elevate and establish superior customer experience.

(in lacs)

PARTICULARS	AS AT 31 MARCH 2021	AS AT 31 MARCH 2020
Equity share capital	1,577	1,573
Total Equity	475,891	277,054
Earnings per equity share	446.54	245.65

Last 5 Years Performance of HDFC Securities (Fig. in Crores)

Year	Total Income	PAT	Dividend Per Share
2016	402	202	20
2017	553	329	60
2018	788	524	110
2019	771	495	110
2020	862	509	135

Financials of HDFC Securities Limited Unlisted Shares:

(Fig. in Crores)

Year	Revenue	PAT	OPM	NPM	EPS
2016	401	133	53%	33%	86
2017	553	215	62%	39%	139
2018	788	344	68%	44%	222
2019	782	329	66%	42%	210
2020	862	384	51%	45%	246
2021	1368	703	70%	52%	446

HDFC securities Limited Annual Report 2019-20

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HDFC Securities Unlisted Shares – Company Overview

HDFC Securities Limited is one of the leading securities brokerage companies in India, with more than 20 years of experience in the industry. It is a subsidiary of HDFC bank. HDFC Securities Limited offers a large spectrum of financial products and services including various asset classes such as Equity, fixed income, retirement planning, gold, and protection. The company uses a mobile application, an online trading portal, a centralized dealing desk, and a support network of more than 1500 relationship managers to deliver their services.

The company thrives to offer meaningful insights and views that have the potential to positively impact its customer’s money. Unlike their peer companies, their research reports are freely available on their website. HDFC Securities Limited focuses intensively on Technological developments and has multiple associations with FinTech firms. They are very actively exploring the domains of Artificial Intelligence and Machine Learning to asses a customer’s portfolio and manage it with as much as possible efficiency.

HDFC Securities Limited is ranked 2nd in terms of active customers in India. The equity Shares of HDFC Securities Limited are in huge demand as the company’s IPO is coming soon. Hdfc securities share is available in the unlisted marketplace. Hdfc securities share price keeps fluctuating on daily basis. Hdfc securities share price is unstable.

HDFC Securities Share Price, Unlisted Share Details as of March 31, 2022

HDFC Securities Outstanding Shares:	15,831,114
Face Value of HDFC Securities Unlisted Share:	Rs. 10 Per Equity Share
ISIN of HDFC Securities Unlisted Share:	INE700G01014
Lot Size of HDFC Securities Unlisted Share:	10 Shares
HDFC Securities Share Price:	Best in Industry
PAN Number of HDFC Securities:	AAACH8215R

HDFC Securities Limited Incorporation Details

HDFC Securities Limited CIN Number	U67120MH2000PLC152193
		HDFC Securities Limited Registration Date	17-Apr-00
Category / Sub-Category of HDFC Securities	Public company limited by shares
		HDFC Securities Registered Office Address	I Think Techno Campus, Building, B, Alpha, Office Floor 8, Near Kanjurmarg Station, Kanjurmarg (East), Mumbai – 400042
HDFC Securities Registrar & Transfer Agent Address and Contact Details	Datamatics Business Solutions Limited, Plot No B-5, Part B Crosslane MIDC, Marol, Andheri (East), Mumbai – 400093 Tel. No. 022 – 66712201

Primary Business Activities of HDFC Securities

Name and Description of main products/services	NIC Code of the product/service	% to the total turnover of the Company
Stock Broking and related products	67120	100%

Board of Directors of HDFC Securities

Mr. Bharat D Shah (Chairman)

Mr. Dhiraj Relli (Managing Director)

Mr. Abhay Aima (Non-Independent Director)

Mr. Jagdish Capoor (Non-Independent Director)

Dr. (Mrs.) Amla Samanta (Independent Director)

Mr. Samir Bhatia (Director)

Mr. Malay Patel (Director)

Mr. Ashish Rathi (Whole Time Director)

Shareholding Pattern of HDFC Securities

S. No.	Shareholders’ Name	No. of Shares	% of total Shares of the company
1	HDFC Bank Limited	1,51,90,044	96.34%
2	Public Shareholding	5,76,531	3.66%
	Total	1,57,66,575	100.00%

Industry Outlook of HDFC Securities

With the increase in retail investor activity and transaction volume, the total sales of the domestic brokerage industry are expected to reach Rs. 27,500 – 28,500 Crore, having a growth rate of 30% to 35%. But the growth might be moderate in 2021-22 and might increase only 7-8%.

The Average Daily Turnover (ADTO) increased to Rs. 22.46 lakh Crores in April-December 2020. Favorable capital markets outlook and strong transaction volumes are the primary reason for the boom of the broking industry. The industry has shown a growth of 34% in broking income and 21% in total revenues in the first half of 2020-2021.

The total number of Demat accounts increased to 498 lakhs as of December 2020, from 467 lakhs as of September 2020 and 408 lakhs in March 2020. This means, there has been an addition of 10.03 lakh Demat accounts every month. And all the broking firms with a strong presence in online broking have increased their market share.

Increased participation in the retail industry has provided support for the profitability of the industry. As long as loan costs are under control, interest income from margin financing will increase. Moreover, Companies with mature IT infrastructure (IT), processes, and controls can achieve better results.

Hdfc Securities Limited Balance Sheet (Amt. in Lakhs)

PARTICULARS	2024	2023	2022	2021
ASSETS
Financial Assets
Cash and cash equivalents	79,811	39,210	1,31,792	59,854
Bank Balance other than above	4,57,774	3,19,980	2,28,091	1,57,981
Receivables
Trade Receivables	1,28,657	40,727	50,586	43,961
Other Recievables	–	–	–	–
Loans	6,02,524	2,74,757	3,28,348	1,67,415
Investments	1,00,533	1,21,361	24,377	23,595
Other Financial Assets	9,246	3,908	6,102	4,385
	13,78,545	7,99,943	7,69,296	4,57,191
Non-Financial Assets
Current tax assets (Net)	4,156	3,829	3,049	2,232
Deferred tax Assets (Net)	–	–	–	61
Investment Property	1,341	1,368	1,397	1,424
Property, Plant and Equipment	6,164	8,051	7,584	6,015
Right-of-use assets	6,677	5,487	6,147	5,285
Capital work-in-progress	45	112	319	494
Intangible assets under development	507	2,743	1,151	585
Other Intangible assets	8,145	2,908	1,968	1,638
Other non-financial assets	4,727	3,213	1,343	966
	31,762	27,711	22,958	18,700
TOTAL ASSETS	14,10,307	8,27,654	7,92,254	4,75,891
LIABILITIES AND EQUITY
LIABILITIES
Financial Liabilities
Payables
Trade Payables
– total outstanding dues of micro enterprises and small enterprises	28	20	11	28
– total outstanding dues of creditors other than micro enterprises and small enterprises	2,17,425	98,171	1,42,057	1,03,959
Other Payables
– total outstanding dues of micro enterprises and small enterprises	–	–	–	–
– total outstanding dues of creditors other than micro enterprises and small enterprises	–	–	–	–
Borrowings	9,53,251	5,25,410	4,61,914	2,04,043
Lease Liabilities	7,778	6,491	6,936	5,990
Other financial liabilities	21,207	12,450	469	291
	11,99,689	6,42,542	6,11,387	3,14,311
Non-Financial Liabilities
Current tax liabilities (Net)	779	179	179	179
Provisions	1,501	1,460	11,733	8,747
Deferred tax liabilities (Net)	331	367	280	–
Other non-financial liabilities	5,083	3,392	2,884	4,623
	7,694	5,398	15,076	13,549
Equity
Equity Share capital	1,597	1,589	1,583	1,577
Other Equity	2,01,327	1,78,125	1,64,208	1,46,454
	2,02,924	1,79,714	1,65,791	1,48,031
TOTAL LIABILITIES AND EQUITY	14,10,307	8,27,654	7,92,254	4,75,891

Hdfc Securities Limited Profit & Loss Statement (Amt. in Lakhs)

PARTICULARS	2024	2023	2022	2021
Revenue from operations
Brokerage and Fee Income	1,59,717	1,18,240	1,40,937	1,14,024
Interest Income	1,03,072	64,765	52,804	21,110
Sale of Services	489	1,146	1466	560
Net gain on fair value changes	2,498	4,739	2132	907
Rental Income	221	221	207	207
Dividend Income	15	16	11	8
Total Revenue from operations	2,66,012	1,89,127	1,97,557	1,36,816
Other Income	61	36	1,474	3,127
Total Income	2,66,073	1,89,163	1,99,031	1,39,943
Expenses
Finance Costs	60,050	29,588	15,634	5,307
Impairment on financial instruments	1,433	2,098	590	705
Employee Benefits Expenses	38,452	27,471	25,740	23,357
Depreciation, amortization and impairment	6,392	5,745	4,230	3,629
Other expenses	32,603	20,071	20,806	12,385
Total Expenses	1,38,930	84,973	67,000	45,382
Profit before tax	1,27,143	1,04,190	1,32,031	94,561
Tax expense
Current Tax	32,102	26,334	33,217	24,074
Deferred Tax	-48	134	380	165
Total tax expense	32,054	26,468	33,597	24,239
Profit for the year	95,089	77,722	98,434	70,323
Other comprehensive income :
Items that will not be reclassified to profit or loss:
Re-measurement gains / (losses) on defined benefit plans	47	-182	-155	3
Income tax effect	-12	46	39	-1
Other comprehensive income for the year, net of tax	35	-136	-116	2
Total comprehensive income for the period, net of tax	95,124	77,586	98,318	70,325
Earnings per equity share – [Nominal value of the shares Rs.10]
Basic (in Rs.)	597.42	490.22	623.21	446.64
Diluted (in Rs.)	597.36	489.84	621.78	446.54

Hdfc Securities Limited Consolidated Cash Flow Statement (Amt. in Lakhs)

PARTICULARS	2024	2023	2022	2021
Cash Flow from operating activities
Profit before tax	1,27,143	1,04,190	1,32,031	94,561
Adjustments
Depreciation & Amortization	6,392	5,745	4,230	3,629
Share based payments to employees	3,113	2,574	2,775	1,807
Impairment on financial instruments	1,433	2,098	590	705
Loss on sale / w/off of Property, Plant & Equipment	-18	124	-4	-8
Rental income from investment property	-221	-221	-207	-207
Changes in fair value of investment	-2,867	-4,739	-2,132	-907
Finance Costs	59,504	29,020	15,634	5,307
Interest income	-5,357	-2,659	–	-5
Dividend Income	-15	-16	-11	-8
	1,89,107	1,36,116	1,52,905	1,04,874
Working capital adjustments:
Decrease / (Increase) in Other Bank Balance	-1,37,794	-83,649	-75,110	-59,446
Decrease / (Increase) in trade receivables	-89,360	7,761	-7,215	-28,128
Decrease / (Increase) in loans	-3,27,767	53,591	-1,60,933	-1,44,572
Decrease / (Increase) in Other financial assets	-5,338	-7,089	-1,717	18,050
Decrease / (Increase) in Other non-financial assets	-1,513	46	-378	-424
Increase/ (Decrease) in trade and other payables	1,19,262	-43,878	38,081	38,749
Increase/ (Decrease) in lease liability	–	–	946	-30
Increase/ (Decrease) in other financial liabilities	8,757	2,386	178	-389
Increase/ (Decrease) in Provisions	88	-860	2,831	1,618
Increase/ (Decrease) in Other non-financial liabilities	1,690	-345	-1,739	670
	-2,42,868	64,079	-52,151	-69,029
Income tax paid	-31,829	-27,114	-34,034	-24,684
Net Cash Flow (used in) / from operating activities (A)	-2,74,697	36,965	-86,185	-93,713
Investing activities
Purchase of property, plant and equipment, intangible assets	-16,012	-12,633	-7,351	-5,871
Proceeds from sale of property, plant and equipment, intangible assets	7,428	4,642	–	–
Rental income received	221	221	207	207
Purchase of investments	-600	-92,298	-3,347	-21,004
Proceeds from sale of investments	24,295	54	4,696	1,178
Dividend received	15	16	11	8
Interest received	5,357	2,659	–	5
Net cash flows (used in) / from investing activities (B)	20,704	-97,339	-5,782	-25,477
Financing activities:
Proceeds from Issuance of equity share capital	8	6	3,130	1,236
Increase/ (Decrease) from Issuance of Other Equity	-1,436	-1,250	–	–
Proceeds from Issuance of securities premium	5,960	4,798	–	–
Proceeds from share application money	1,683	–	–	–
Increase/ (Decrease) in lease liability	1,287	-445	–	–
Proceeds from Issuance of debt securities	32,47,841	19,35,096	16,81,914	4,18,996
Redemption of debt securities	-28,20,000	-18,71,600	-14,25,000	-2,85,000
Bank guarantee charges	-426	-372	–	–
Interest Paid – Others	-59,078	-28,648	-14,677	-4,350
Dividend paid, including dividend tax	-81,246	-69,791	-86,462	-50,098
Net cash flows from financing activities	2,94,594	-32,206	1,58,905	80,784
Net increase in cash and cash equivalents (A+B+C)	40,601	-92,581	66,937	-38,406
Cash and Cash equivalents at the beginning of the year	39,210	1,31,791	64,854	98,260
Cash and Cash equivalents at the end of the year	79,811	39,210	1,31,792	59,854

Let ‘s break down the Cash Flow Statement for the years 2024, 2023, 2022 and 2021, activity-wise:

Operating Activities:

– Net cash flow from operating activities fluctuated significantly over the years, ranging from negative 2,74,697 lakhs in 2024 to positive 36,965 lakhs in 2023.

– Working capital adjustments contributed significantly to these fluctuations, with large decreases or increases in other bank balances, trade receivables, loans, and other financial assets.

– Income tax paid also varied, contributing to the overall cash flow from operating activities.

Investing Activities:

– Net cash flows from investing activities fluctuated as well, ranging from negative 97,339 lakhs in 2023 to positive 20,704 lakhs in 2024.

– Major investments include purchases of property, plant, and equipment, intangible assets, as well as investments in securities.

– Proceeds from the sale of property, plant, and equipment, as well as investments, contributed to positive cash flows in certain years.

Financing Activities:

– Net cash flows from financing activities also varied significantly, ranging from negative 32,206 lakhs in 2023 to positive 2,94,594 lakhs in 2024.

– Activities such as the issuance of equity share capital, debt securities, and redemption of debt securities had a significant impact on financing cash flows.

– Dividend payments and interest paid also played a role in these cash flows.

Overall Cash Position:

– The company experienced fluctuations in its cash and cash equivalents over the years, ranging from a low of 39,210 lakhs in 2023 to a high of 1,31,792 lakhs in 2022.

– The net increase or decrease in cash and cash equivalents also varied, with the company experiencing both positive and negative changes in different years.

Financial Ratios of Hdfc Securities Limited:

Particulars	2024	2023
Debt/Equity Ratio	4.7	2.92
Debt Service Coverage Ratio	0.19	0.25
Interest Service Coverage Ratio	3.22	4.72
EPS (in Rs.)	597.42	490.22
Current Ratio	1.08	1.12
Current Liability Ratio	0.99	0.99
Total Debt to Total Assets	0.68	0.63
Debtors Turnover	2.07	4.64
Operating Margin	48%	55%
Net Profit Margin	36%	41%

Insights into the financial health and performance of the company in 2024 and 2023:

Here ‘s an analysis of the financial ratios for the company in 2023 and 2024:

1. Debt/Equity Ratio:

– Increased from 2.92 in 2023 to 4.7 in 2024, indicating a higher level of debt relative to equity. This suggests increased financial leverage in 2024 compared to 2023.

2. Debt Service Coverage Ratio (DSCR):

– Decreased from 0.25 in 2023 to 0.19 in 2024. A lower DSCR suggests that the company may have faced more difficulty in meeting its debt obligations from its operating income in 2024 compared to 2023.

3. Interest Service Coverage Ratio (ISCR):

– Decreased from 4.72 in 2023 to 3.22 in 2024. A lower ISCR indicates a reduced ability to cover interest payments from operating income in 2024 compared to 2023.

4. Earnings Per Share (EPS):

– Increased from Rs. 490.22 in 2023 to Rs. 597.42 in 2024. This indicates higher earnings attributable to each outstanding share in 2024 compared to 2023.

5. Current Ratio:

– Decreased from 1.12 in 2023 to 1.08 in 2024. While still above 1, suggesting the company ‘s ability to meet short-term obligations, the decrease indicates a slight weakening in liquidity from 2023 to 2024.

6. Current Liability Ratio:

– Remained constant at 0.99 in both 2023 and 2024, indicating that current liabilities make up approximately the same proportion of total liabilities in both years.

7. Total Debt to Total Assets Ratio:

– Increased from 0.63 in 2023 to 0.68 in 2024, indicating a higher proportion of assets financed by debt in 2024 compared to 2023.

8. Debtors Turnover:

– Decreased from 4.64 in 2023 to 2.07 in 2024. A lower debtors turnover ratio suggests that the company took longer to collect payments from its debtors in 2024 compared to 2023.

9. Operating Margin:

– Decreased from 55% in 2023 to 48% in 2024. This indicates a lower percentage of revenue left after covering operating expenses in 2024 compared to 2023.

10. Net Profit Margin:

– Decreased from 41% in 2023 to 36% in 2024. This indicates a lower percentage of net profit generated from total revenue in 2024 compared to 2023.

Dividend History of Hdfc Securities Limited:

Particulars	2024	2023	2022	2021
Dividend (final + interim) (In Rs.)	510	440	547	318

Annual Report-2023