Annotated balance sheet · halal screening

HDFC Bank Limited

The full balance sheet for HDB, with the line items that feed each halal check marked and explained inline. Read it like a financial report that grades itself.

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Annotated balance sheet · halal screening

HDFC Bank Limited — Q1 2026

Source: SEC Form 10-Q filed 2026-03-31 · via FMP · USD millions · Open filing

Assets

Current Assets

Cash & cash equivalents①

$31,966

Marketable securities①

Accounts receivable

Inventories

Other current assets

Total current assets

$31,966

Non-current Assets

Property, plant & equipment, net②tangible

$1,690

Operating lease right-of-use assets②tangible

Long-term marketable securities①

$443,832

Goodwill

Intangible assets, net

Other non-current assets

$25,478

Total non-current assets

$471,001

TOTAL ASSETS

$502,967

CHECK ①

Cash + Securities Ratio

under AAOIFI

372.1%

✗ FAIL

Threshold≤ 30%Shortfall342.1 percentage points over the limit

Breach risk

Breached

0%← Pass zone | Fail zone →409%

Caps how much of a company's value can be held in interest-bearing financial assets — too much suggests the business is more about earning interest than producing real goods/services.

SourceAAOIFI Shariah Standard No. 21 (Financial Papers — Shares and Bonds), §3.5.1

Liabilities

Current Liabilities

Accounts payable

Other current liabilities

Deferred revenue

Commercial paper③interest-bearing

Short-term debt③interest-bearing

Total current liabilities

Non-current Liabilities

Long-term debt③interest-bearing

$60,307

Other non-current liabilities

$380,308

Total non-current liabilities

$440,614

TOTAL LIABILITIES

$440,614

CHECK ③

Interest-bearing Debt Ratio

under AAOIFI

47.2%

✗ FAIL

Threshold≤ 30%Shortfall17.2 percentage points over the limit

Breach risk

Breached

0%← Pass zone | Fail zone →52%

Caps how much of a company's value comes from interest-bearing loans. Companies that rely heavily on riba (interest-based debt) fail this check even if their business itself is permissible.

SourceAAOIFI Shariah Standard No. 21 (Financial Papers — Shares and Bonds), §3.4.2

Income Statement Excerpt (trailing 12 months)

Total revenue

$52,288

Of which:

Product & services revenue

$52,288

Interest income④non-permissible

$36,804

CHECK ④

Non-permissible Income Ratio

under AAOIFI

70.4%

✗ FAIL

Threshold≤ 5%Shortfall65.4 percentage points over the limit

Breach risk

Breached

0%← Pass zone | Fail zone →77%

Caps what fraction of company revenue can come from non-permissible sources. If your stock passes but interest income is high, you'd 'purify' your share of that income through charity.

SourceAAOIFI Shariah Standard No. 21 (Financial Papers — Shares and Bonds), §3.6

Final verdict — under AAOIFI Standard

Not halal

Sector check passes: ✓ yes

Want to verify against the primary document? Open full SEC filing

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