National Securities Depository Ltd (NSDL) reported a 24 per cent year-on-year increase in profit after tax to ₹82.6 crore for the first quarter of FY26, compared to ₹66.6 crore in the same period last year.
The country’s largest depository saw total income rise 21.7 per cent to ₹190.4 crore in Q1 FY26, while operating revenue grew 19.5 per cent to ₹161 crore. The company’s demat accounts crossed the four-crore milestone as of June 30, 2025, with market share improving significantly to 15.5 per cent (9.4 per cent) on a run-rate basis.
Market share up
NSDL strengthened its position in the unlisted equity market, admitting 10,392 companies during the quarter and achieving a 73.2 per cent market share (70.8 per cent). The company maintains its leadership position with 90,409 registered issuers and a 69.5 per cent overall market share.
EBITDA increased 27 per cent year on year to ₹115.3 crore, while profit before tax grew 26.8 per cent to ₹109.5 crore. Employee benefit expenses rose 19.1 per cent to ₹25.2 crore, and other income jumped 35.1 per cent to ₹29.5 crore during the quarter.
The depository holds 86.6 per cent market share by total demat custody value and maintains 67.5 per cent market share of individual and HUF demat custody value. NSDL services 99.99 per cent of FPI demat holdings and commands 96.98 per cent market share by value of debt securities.
On a consolidated basis, NSDL’s profit after tax increased 15.2 per cent to ₹89.6 crore, though total consolidated income declined 5 per cent to ₹346.8 crore due to subsidiary performance variations.
Published on August 12, 2025
