| P&L Statement | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|
| Revenue | 1874 | 2660 | 3264 | 3107 |
| Cost of Material Consumed | 0 | 0 | 0 | 0 |
| Change in Inventory | 0 | 0 | 0 | 0 |
| Gross Margins | 100 | 100 | 100 | 100 |
| Employee Benefit Expenses | 275 | 384 | 480 | 576.5 |
| Other Expenses | 222 | 340 | 433 | 399.6 |
| EBITDA | 1377 | 1936 | 2351 | 2130.9 |
| OPM | 73.48 | 72.78 | 72.03 | 68.58 |
| Other Income | 17 | 0 | 0.7 | 2.7 |
| Finance Cost | 296 | 600 | 785 | 817.5 |
| D&A | 57 | 64 | 70 | 83 |
| EBIT | 1320 | 1872 | 2281 | 2047.9 |
| EBIT Margins | 70.44 | 70.38 | 69.88 | 65.91 |
| PBT | 1042 | 1271 | 1496 | 1233.6 |
| PBT Margins | 55.6 | 47.78 | 45.83 | 39.7 |
| Tax | 265 | 320 | 372 | 307 |
| PAT | 777 | 951 | 1124 | 926.6 |
| NPM | 41.46 | 35.75 | 34.44 | 29.82 |
| EPS | 491.77 | 595.49 | 635.03 | 518.52 |
| Assets | 2024 | 2025 | 2026 |
|---|---|---|---|
| Fixed Assets | 62 | 161 | 153.3 |
| CWIP | 5.5 | 7 | 6.8 |
| Investments | 1018 | 1064 | 2760 |
| Trade Receivables | 1286 | 1177 | 1426 |
| Inventory | 0 | 0 | 0 |
| Other Assets | 11731.5 | 11622 | 17437.9 |
| Total Assets | 14103 | 14031 | 21784 |
| Liabilities | 2024 | 2025 | 2026 |
|---|---|---|---|
| Share Capital | 15.97 | 17.7 | 17.87 |
| FV | 10 | 10 | 10 |
| Reserves | 2013 | 3330 | 3574.7 |
| Borrowings | 9532 | 7944 | 15114 |
| Trade Payables | 2174 | 2396 | 2673 |
| Other Liabilities | 368.03 | 343.3 | 404.43 |
| Total Liabilities | 14103 | 14031 | 21784 |
One of India's leading private sector banks, HDFC Bank, is the parent company of the prestigious financial intermediary HDFC Securities Limited. This renowned stock broking company, with its headquarters in Mumbai, has a distinguished 20-year history dating back to its founding in 2000. Initially, HDFC Bank Limited, HDFC Limited, and Indocean eSecurities Holdings Limited formed a joint venture that resulted in HDFC Securities.
In addition to offering excellent stock brokerage services, HDFC Securities has expanded to become a well-known distributor of a range of financial goods. When HDFC Bank purchased a portion of HDFC Ltd. in 2006, there was a significant change. The acquisition of an additional 4% from Indocean Securities in 2008 further cemented HDFC Securities' status as an HDFC Bank affiliate.
As the HDFC Group's stockbroking and distribution division, HDFC Securities Ltd. is known for being one of the first brokerage houses in India. It is an associated member of both the BSE and the NSE, indicating its corporate presence. Professional traders greatly appreciate the company's extensive internet trading site.
By March 31, 2020, HDFC Securities had established 262 branches in 161 Indian cities. The business has made investments in a number of digital channels to increase its reach and give its clients easy access to its wide range of items.
1. What are unlisted shares?
Unlisted shares are stocks of companies that are not traded on recognized stock exchanges like the National Stock Exchange or Bombay Stock Exchange. These shares are typically traded privately through brokers or platforms.
2. How can I buy unlisted shares in India?
You can buy unlisted shares through specialized brokers, wealth management firms, or private deals. The shares are transferred to your Demat account via off-market transactions.
3. Are unlisted shares legal in India?
Yes, investing in unlisted shares is completely legal in India, as long as transactions comply with regulations set by the Securities and Exchange Board of India.
4. What are the risks of investing in unlisted shares?
Unlisted shares carry higher risks, including low liquidity, limited transparency, price volatility, and lack of regulatory oversight compared to listed stocks.
5. How is the price of unlisted shares determined?
The price is usually based on company performance, demand-supply, recent funding rounds, and financial valuations. Unlike listed stocks, there is no real-time market pricing.
6. Can unlisted shares become listed in the future?
Yes, companies may go public through an IPO. For example, firms preparing for listing on exchanges like the National Stock Exchange can provide significant returns to early investors.
7. What is the tax treatment of unlisted shares?
Unlisted shares are taxed as capital gains. If held for more than 24 months, they are treated as long-term capital assets and taxed accordingly under Indian tax laws.
8. Do unlisted shares pay dividends?
Yes, some unlisted companies distribute dividends, but it depends on the company’s profitability and policies. Dividend payouts are not guaranteed.
9. Can I sell unlisted shares easily?
Selling unlisted shares can be difficult due to limited buyers and lack of a formal exchange. You typically need a broker or a willing buyer for an off-market transaction.
10. Who should invest in unlisted shares?
Unlisted shares are suitable for high-risk investors with a long-term horizon who understand private market dynamics and can handle liquidity constraints.