HDB FY 2008 Earnings Report — HDFC Bank Limited Revenue & Financial Results | Market Cap Arena

HDFC Bank LimitedHDB

FY 2008 Earnings

Reported September 29, 2008

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2008	Prior Q	FY 2007	QoQ Change	YoY Change
Revenue	$1.3B	—	$911M	—	45.1%
Op. Income	$207M	—	$172M	—	20.6%
Gross Margin	49.6%	—	51.7%	—	-2.1pp
Net Margin	10.6%	—	12.9%	—	-2.3pp
EPS (Diluted)	$0.12	—	$0.11	—	9.9%
Free Cash Flow	-$595M	—	$325M	—	-282.9%

Revenue Flow

Item	Amount
REVENUE	$1.3B
Cost of Revenue	$666M
GROSS PROFIT	$656M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$368M
SG&A Expenses	$368M
Other Expenses	$80M
Operating Expenses	$448M
Cost & Expenses	$1.1B
OPERATING INCOME	$207M
Interest Income	$1.1B
Interest Expense	$524M
Other Income/Expenses	$0
INCOME BEFORE TAX	$207M
Income Tax Expense	$67M
Net Income from Continuing Ops	$140M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$140M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$140M
D&A	$30M
EBIT	$207M
EBITDA	$237M
EPS	$0
EPS Diluted	$0

Income Statement

Item	Amount
REVENUE	$1.3B
Cost of Revenue	$666M
GROSS PROFIT	$656M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$368M
SG&A Expenses	$368M
Other Expenses	$80M
Operating Expenses	$448M
Cost & Expenses	$1.1B
OPERATING INCOME	$207M
Interest Income	$1.1B
Interest Expense	$524M
Other Income/Expenses	$0
INCOME BEFORE TAX	$207M
Income Tax Expense	$67M
Net Income from Continuing Ops	$140M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$140M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$140M
D&A	$30M
EBIT	$207M
EBITDA	$237M
EPS	$0
EPS Diluted	$0

Cash Flow Statement

Item	Amount
Net Income	$140M
Depreciation & Amortization	$30M
Stock-Based Compensation	$18M
Deferred Income Tax	-$25M
Other Non-Cash Items	$199M
Change in Working Capital	-$888M
OPERATING CASH FLOW	-$527M
Capital Expenditure	-$69M
Acquisitions (Net)	-$789M
Purchases of Investments	-$2.8B
Sales/Maturities of Investments	$1.9B
Other Investing Activities	-$2.0B
NET CASH FROM INVESTING	-$2.9B
Net Debt Issuance	$351M
Common Stock Repurchased	$0
Common Dividends Paid	-$28M
Other Financing Activities	$3.4B
NET CASH FROM FINANCING	$4.2B
FREE CASH FLOW	-$595M
Net Change in Cash	$707M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.6B
Short-Term Investments	$0
Net Receivables	$120M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.7B
PP&E (Net)	$148M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$5.6B
Tax Assets	$0
Other Non-Current Assets	-$5.8B
TOTAL NON-CURRENT ASSETS	$5.8B
TOTAL ASSETS	$16.0B
Account Payables	$178M
Short-Term Debt	$1.4B
Deferred Revenue	$0
Other Current Liabilities	-$1.6B
TOTAL CURRENT LIABILITIES	$1.6B
Long-Term Debt	$347M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	-$347M
TOTAL NON-CURRENT LIABILITIES	$347M
TOTAL LIABILITIES	$14.7B
Common Stock	$38M
Additional Paid-In Capital	$750M
Retained Earnings	$329M
Treasury Stock	$0
Accum. Other Comp. Income	-$13M
Other Equity	$161M
TOTAL STOCKHOLDERS' EQUITY	$1.3B
Minority Interest	$5M
TOTAL EQUITY	$1.3B
TOTAL LIABILITIES & EQUITY	$16.0B
Total Debt	$1.7B
Net Debt	$159M