NSDL Q1 results: Profit up 15% to ₹90 crore, revenue drops 7.5%

National Securities Depository Ltd (NSDL), which debuted on the Bombay Stock Exchange (BSE) last week, reported a 15.16% year-on-year (YoY) rise in consolidated net profit for the June quarter of the current fiscal. The net profit rose to ₹89.62 crore in Q1FY26 from ₹77.82 crore in the same quarter last year.

Revenue from operations, however, declined 7.49% to ₹312.02 crore in the June quarter of FY26, compared with ₹337.29 crore a year earlier, NSDL said in a BSE filing today.

The results were announced after market hours today. Ahead of the Q1 results, shares of NSDL closed 1.24% higher at ₹1,288.80 on the BSE.

BSE has placed NSDL under the short-term Additional Surveillance Measure (ASM) framework, a mechanism designed to alert investors to increased volatility in share prices. The move follows a sharp rise in the company’s stock price post-listing on August 6. The stock has surged over 61% in just five sessions from its IPO price of ₹800 apiece, adding ₹9,776 crore to investors’ wealth.

NSDL shares hit a record high of ₹1,425 in the previous session, after listing at ₹880 apiece—10% above the issue price.

The company raised ₹4,011.60 crore through its IPO, which was subscribed 41.02 times. The public issue received bids for over 144 crore shares worth ₹1.15 lakh crore against 3.51 crore shares on offer. It was booked 103.97 times in the qualified institutional buyer (QIB) category, 34.98 times in the non-institutional investor (NII) category, 7.76 times in the retail category, and 15.42 times in the employee segment.

The IPO was entirely an offer for sale (OFS) of 5.01 crore shares by existing shareholders, including IDBI Bank, NSE, SBI, HDFC Bank, Union Bank of India, Canara Bank, and others.

Established in 1996 with the backing of institutions such as the National Stock Exchange (NSE), IDBI Bank, and Unit Trust of India (UTI), NSDL laid the foundation for India’s capital market infrastructure. The company primarily serves large institutional clients, including foreign portfolio investors (FPIs), custodians, and mutual funds.

As of March 2025, NSDL managed ₹464 lakh crore in assets under custody (AUC) through a network of 65,391 depository participants’ service centres. In FY25, it held a 73.04% market share in unlisted equity companies, 66.03% in dematerialised share settlements, and 65.27% in active instruments.