ALFA Finder| Revenue growth | 13.2% YoY standalone; 65.6% YoY consolidated. |
|---|---|
| Margins | Consolidated EBITDA margin at 25.9%; Standalone operating margin at 43.8%. |
| Demand visibility | Strong, with 14.7 lakh gross demat accounts added in Q1. |
| Management confidence | High, citing sustained demat account acquisition momentum. |
Growth
Standalone revenue from operations increased 13.2% YoY. Consolidated total income surged 61.6% YoY to ₹560.5cr, driven by strong performance in subsidiaries.
Outlook
Ongoing expansion of DP network with 6 new DPs added. Implementation of SWAGAT-FI framework aims to simplify foreign investor onboarding.
Risks
Operating margins compressed slightly to 43.8% from 49.7% YoY. Employee and depreciation costs showed significant increases.
Last quarter's promises, checked
Delivered
- Guided women demat plan launch (April 1) → delivered April 2026 (= BEAT)
- Guided 2.5-year tech revamp journey → 1 year completed with visible P&L impact (= BEAT)
- Guided increased CASA float (₹500cr+) → delivered ₹521cr (= BEAT)
Partly delivered
- Guided tech capex to peak in FY26/FY27 → current results show continued high dep/employee costs (= PARTIAL)
Missed
- Guided incremental market share improvement → delivered 14% vs 14.7% sequential (= MISS)
Investor Presentation filed with BSE, NSE: NSDL. Summary written with AI assistance from the document.
National Securities Depository Ltd: key numbers
- Share price
- ₹794.00
- Market cap
- ₹15,880 Cr
- Revenue (annual)
- ₹1,530 Cr
- Net profit (annual)
- ₹379.7 Cr
- P/E (TTM)
- 39.7×Sector 20.8×
- Promoter holding
- 0.00%+0.00% QoQ
- FII holding
- 8.24%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
More from National Securities Depository Ltd
All →National Securities Depository Business Update
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National Securities Depository Earnings Call Transcript: Key Takeaways
Consolidated total income rose 34.8%, but PAT grew only 10.9% as tech and talent spending compressed margins. Management declined numeric guidance and deflected pricing questions.
National Securities Depository Investor Presentation: Key Takeaways
Q2 FY27 standalone revenue ₹227.8cr (+11.6% YoY), PAT ₹126.7cr (+5.2%). Consolidated revenue +36.5%, PAT +10.9%. Focus on DEMAT 2.0, tokenised bonds and NPBL growth.
National Securities Depository Results Update
NSDL reported Q2 FY27 standalone total income growth of 11.7% and H1 FY27 growth of 13.3%. Consolidated net profit rose 10.9% in Q2 FY27 per the press release.
National Securities Depository Q2 FY27 Results: Net Profit ₹122.5 Cr, Up 11.0% YoY
National Securities Depository Ltd reported revenue from operations of ₹545.9 Cr (+36.5% YoY) and net profit of ₹122.5 Cr (+11.0% YoY) for Q2 FY27.
- Key figure
- Net profit ₹122.5 Cr · +11.0% YoY
National Securities Depository Other Announcement
National Securities Depository Ltd has filed its quarterly shareholding pattern for the period ended September 30, 2026, as per SEBI regulations.