National Securities Depository Ltd

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National Securities Depository Ltd

₹ 747 -0.20%
16 Oct - 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 ₹ 14,948 Cr.
  • Current Price ₹ 747
  • High / Low ₹ 1,198 / 733
  • Stock P/E 38.5
  • Book Value ₹ 118
  • Dividend Yield 0.54 %
  • ROCE 22.1 %
  • ROE 16.0 %
  • Face Value ₹ 2.00
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Pros

  • Company is almost debt free.
  • Company is expected to give good quarter

Cons

  • Debtor days have increased from 32.7 to 40.8 days.

* 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 Financial Services BSE 250 SmallCap Index BSE Select IPO BSE 1000 BSE Capital Markets & Insurance

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
337 357 363 364 312 400 360 458 517
257 244 272 272 217 273 254 356 416
Operating Profit 80 113 91 91 95 127 106 103 101
OPM % 24% 32% 25% 25% 30% 32% 29% 22% 20%
28 29 29 31 35 32 35 29 44
Interest 1 1 1 1 2 1 2 2 2
Depreciation 8 8 9 10 10 11 13 14 14
Profit before tax 100 133 110 111 118 146 125 116 129
Tax % 22% 28% 22% 25% 24% 24% 29% 22% 24%
78 96 86 83 90 110 90 90 98
EPS in Rs 3.89 4.81 4.29 4.16 4.48 5.52 4.48 4.51 4.91
Raw PDF
Upcoming result date: 31 October 2026

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
326 466 761 1,022 1,268 1,420 1,530 1,735
203 259 522 771 985 1,045 1,100 1,298
Operating Profit 123 207 239 251 284 376 430 436
OPM % 38% 44% 31% 25% 22% 26% 28% 25%
53 58 60 77 97 117 130 140
Interest 1 1 2 2 2 4 7 7
Depreciation 13 17 19 22 24 35 48 53
Profit before tax 162 247 278 305 355 453 506 516
Tax % 23% 24% 24% 23% 22% 24% 25%
125 189 213 235 275 343 380 389
EPS in Rs 6.24 9.43 10.63 11.74 13.77 17.16 18.99 19.42
Dividend Payout % 13% 11% 47% 9% 7% 12% 21%
Compounded Sales Growth
10 Years: %
5 Years: 27%
3 Years: 14%
TTM: 24%
Compounded Profit Growth
10 Years: %
5 Years: 13%
3 Years: 15%
TTM: 9%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: %
1 Year: -36%
Return on Equity
10 Years: %
5 Years: 17%
3 Years: 17%
Last Year: 16%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 40 40 40 40 40 40 40
Reserves 807 979 1,172 1,389 1,644 1,965 2,330
12 9 3 17 14 10 17
208 470 478 648 560 969 1,433
Total Liabilities 1,067 1,498 1,693 2,093 2,258 2,985 3,820
54 66 53 68 289 322 408
CWIP 11 17 3 5 13 22 16
Investments 764 728 930 1,457 1,494 1,996 2,559
238 687 706 563 462 646 836
Total Assets 1,067 1,498 1,693 2,093 2,258 2,985 3,820

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
116 104 148 327 113 563 713
-118 -36 -64 -375 -173 -502 -619
-14 -16 -20 -20 -20 -22 -18
Net Cash Flow -17 52 63 -68 -80 39 77
Free Cash Flow 75 80 139 283 -131 489 578
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit 129% 74% 94% 155% 68% 177% 192%

Ratios

Consolidated / View Standalone

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 91 85 49 31 24 33 41
Inventory Days
Days Payable
Cash Conversion Cycle 91 85 49 31 24 33 41
Working Capital Days -118 -252 -162 -187 -125 -198 -279
ROCE % 26% 24% 23% 22% 24% 22%

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)
% ・Standalone data

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

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