National Securities Depository Ltd

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National Securities Depository Ltd

₹ 812 -0.06%
14 Aug - close price
nsdl.co.in BSE: 544467
About

Incorporated in 2012, National Securities Depository Ltd provides electronic infrastructure for dematerialization of securities and facilitates electronic settlement of trades in Indian Securities Market[1]

Key Points

Business Overview:[1]
NSDL is a SEBI-registered Market Infrastructure Institution (MII) offering a range of products and services to India’s financial and securities markets. It pioneered the dematerialization of securities in India.
As of March 31st 2025, NSDL ranks as the
largest depository in India based on number
of issuers, number of active instruments,
market share in demat value of settlement volume, and value of assets held under custody. NSDL’s nationwide infrastructure comprises 65,391 depository participants’ service centres, significantly exceeding CDSL’s 18,918 centres.

Website BSE
  • Market Cap ₹ 16,248 Cr.
  • Current Price ₹ 812
  • High / Low ₹ 1,382 / 788
  • Stock P/E 44.3
  • Book Value ₹ 106
  • Dividend Yield 0.49 %
  • ROCE 24.3 %
  • ROE 18.3 %
  • Face Value ₹ 2.00
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Unsung hero
Rama Debi
She took an active part in the Khadi Movement and donated all her gold ornaments in response to Gandhiji's appeal. She was arrested during several movements and accompanied Gandhiji on a foot march in Odisha.
Unsung hero
Laxmibai Ganesh Thuse
She was chosen by Mahatma Gandhi to offer Satyagraha. She encouraged people to follow non-violence and made anti-war speeches.

Pros

  • Company is almost debt free.

Cons

  • Stock is trading at 7.63 times its book value
  • Earnings include an other income of Rs.138 Cr.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Financial Services Financial Services Capital Markets Depositories, Clearing Houses and Other Intermediaries

Part of BSE 400 MidSmallCap Index BSE Select IPO BSE 1000 BSE Capital Markets & Insurance BSE Financial Services

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
135 169 148 167 161 204 169 171 182
66 71 67 84 75 90 79 84 93
Operating Profit 69 98 81 83 86 114 90 87 89
OPM % 51% 58% 54% 50% 53% 56% 54% 51% 49%
22 42 24 25 29 46 30 25 38
Interest 0 0 0 0 0 0 0 0 0
Depreciation 4 5 6 6 6 6 8 9 10
Profit before tax 86 135 99 102 110 154 112 103 117
Tax % 23% 25% 22% 26% 25% 22% 30% 23% 24%
67 102 77 76 83 120 78 80 89
EPS in Rs 3.33 5.09 3.87 3.79 4.13 6.02 3.89 3.98 4.46
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
250 336 369 409 473 619 705 726
148 155 180 203 231 288 327 345
Operating Profit 102 181 189 206 242 331 378 381
OPM % 41% 54% 51% 50% 51% 53% 54% 52%
41 53 58 76 98 113 130 138
Interest 0 0 2 0 0 0 0 0
Depreciation 5 7 10 10 12 21 30 33
Profit before tax 138 226 236 272 328 422 478 486
Tax % 21% 22% 22% 22% 21% 24% 25%
108 176 184 211 258 322 361 367
EPS in Rs 27.10 44.04 45.90 10.54 12.90 16.08 18.03 18.35
Dividend Payout % 15% 11% 54% 9% 8% 12% 22%
Compounded Sales Growth
10 Years: %
5 Years: 16%
3 Years: 20%
TTM: 13%
Compounded Profit Growth
10 Years: %
5 Years: 15%
3 Years: 20%
TTM: 9%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: %
1 Year: -31%
Return on Equity
10 Years: %
5 Years: 18%
3 Years: 18%
Last Year: 18%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 40 40 40 40 40 40 40
Reserves 717 878 1,040 1,232 1,469 1,768 2,088
1 1 1 1 1 1 2
171 334 325 363 338 556 648
Total Liabilities 930 1,253 1,406 1,635 1,847 2,366 2,778
22 35 35 33 248 280 360
CWIP 0 7 0 3 9 6 4
Investments 777 783 918 1,287 1,309 1,690 1,954
131 429 454 311 281 389 459
Total Assets 930 1,253 1,406 1,635 1,847 2,366 2,778

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
86 -13 118 333 170 359 319
-99 29 -87 -321 -151 -317 -245
-14 -16 -20 -20 -20 -16 -40
Net Cash Flow -27 -1 11 -8 -1 26 34
Free Cash Flow 67 -26 113 311 -54 312 210
CFO/OP 119% 16% 95% 195% 99% 135% 113%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 109 110 87 63 47 55 56
Inventory Days
Days Payable
Cash Conversion Cycle 109 110 87 63 47 55 56
Working Capital Days -122 -228 -213 -245 -198 -252 31
ROCE % 27% 23% 23% 23% 24% 24%

Insights

In beta
Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Market Share - Unlisted Companies (Equity, by number)
%

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Net BO Accounts (Demat Accounts)
lakhs
Number of Issuers (Listed + Unlisted)
number
Demat Custody Value
₹ lakh crore
Number of Depository Participants (DPs)
number
NSDL Payments Bank (NPBL) Customer Base
lakhs
Market Share - Total Demat Custody Value
%

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

Sep 2025Dec 2025Mar 2026Jun 2026
15.89% 14.54% 14.40% 11.69%
39.23% 37.85% 37.64% 37.75%
44.86% 47.62% 47.96% 50.55%
No. of Shareholders 8,31,1708,64,4158,74,4148,94,029

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

Documents

Announcements

Annual reports

DRHP

Concalls