National Securities Depository Limited (NSDL) has announced robust financial results for the quarter ended June 30, 2025, delivering a 24.01% year-on-year (YoY) growth in standalone net profit, supported by strong revenue expansion and market share gains.
Financial Performance Overview
Standalone Results
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Total Income stood at ₹190.4 crore in Q1 FY26, up 21.68% YoY from ₹156.5 crore in Q1 FY25. However, it showed a marginal 0.76% decline QoQ compared to ₹191.9 crore in Q4 FY25.
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Net Profit After Tax (PAT) came in at ₹82.6 crore, marking a 9.04% QoQ growth over ₹75.8 crore in Q4 FY25 and a 24.01% YoY rise from ₹66.6 crore in Q1 FY25.
Consolidated Results
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Total Income was ₹346.8 crore, reflecting a 4.95% YoY decline from ₹364.9 crore in Q1 FY25 and an 11.93% QoQ drop from ₹393.8 crore in Q4 FY25.
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PAT stood at ₹89.6 crore, up 15.16% YoY from ₹77.8 crore in Q1 FY25 and 7.60% higher QoQ than ₹83.3 crore in Q4 FY25.
Operational Highlights
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Demat Market Share: NSDL’s net BO (beneficial owner) account market share surged from 9.4% in Q1 FY25 to 15.5% in Q1 FY26, crossing 4 crore accounts by June 30, 2025.
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Unlisted Market: Companies admitted rose to 10,392, boosting equity market share to 73.2% (up from 70.8% YoY).
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Custody Value: Maintained a commanding 86.6% share of total demat custody value.
Business Segments
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NSDL Database Management Limited (NDML) continued to offer SEZ Online services, KYC registration, e-insurance repository, and digital onboarding for market intermediaries.
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NSDL Payments Bank Limited (NPBL) remained active in payment banking, remittances, mutual fund investment services, and verification services for corporate brokers and insurers.
NSDL’s Q1 FY26 performance was marked by strong YoY profit growth despite a slight sequential dip in standalone revenue and a larger QoQ drop in consolidated income. The company’s strategic expansion in demat accounts and unlisted market presence reinforced its leadership in India’s depository space.