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National Securities Depository Ltd

National Securities Depository Ltd

NSDL Share Price

BSE
₹703.000.61% (-4.30)
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With a market cap of ₹14,022 cr, stock is ranked 468

Stock is 1.67x as volatile as Nifty

NSDL Stock Scorecard

Performance

Low

Hasn't fared well - amongst the low performers

Valuation

High

Seems to be overvalued vs the market average

Growth

Avg

Financials growth has been moderate for a few years

Profitability

High

Showing good signs of profitability & efficiency

Entry point

Good

The stock is underpriced and is not in the overbought zone

Red flags

Low

No red flag found

How to use scorecard? Learn more

With a market cap of ₹14,022 cr, stock is ranked 468

Stock is 1.67x as volatile as Nifty

NSDL Performance & Key Metrics

NSDL Performance & Key Metrics

No LabelNo LabelPB RatioPB RatioDividend YieldDiv. Yield
36.115.890.57%
Sector PESector PESector PBSector PBSector Div YldSctr Div Yld
15.612.021.30%

NSDL Analyst Ratings & Forecast

Detailed Forecast Detailed Forecast 
50%
Analysts have suggested that investors can buy this stock

from 4 analysts

Price Upside

Earnings Growth

Rev. Growth

See Detailed Forecast

NSDL Company Profile

National Securities Depository Limited (NSDL) is a market infrastructure institution in India that provides depository and technology-driven services for the capital markets.

NSDL Similar Stocks (Peers)

Compare with peers Compare with peers 

NSDL Similar Stocks (Peers)

Compare with peers Compare with peers 
PE Ratio
42.81
42.81
1Y Return
1.97%
1.97%
Buy Reco %
100.00
100.00
PE Ratio
57.34
57.34
1Y Return
43.70%
43.70%
Buy Reco %
64.71
64.71
PE Ratio
60.95
60.95
1Y Return
75.18%
75.18%
Buy Reco %
87.50
87.50
PE Ratio
43.12
43.12
1Y Return
8.83%
8.83%
Buy Reco %
100.00
100.00
PE Ratio
57.87
57.87
1Y Return
21.78%
21.78%
Buy Reco %
54.55
54.55
Compare with Peers

NSDL Sentiment Analysis

NSDL Sentiment Analysis

New
Crisp summary & key insights to decode earnings calls instantly

NSDL Stock Summary · August 2026

Strong group revenue momentum masked near‑term margin pressure as management emphasized scaling transaction volumes and embedding recent technology and onboarding investments. Consolidated revenue from operations rose to INR 516.6 crore, up 65.6% year‑on‑year, while standalone EBITDA margin remained robust at 57.8%, reflecting a mix of high‑margin core activities and new business drag. Management underscored priorities on transaction‑led growth at the payments bank—retail customers rose materially to 49.5 lakh—and rapid demat gains with roughly 12.5 lakh new accounts lifting incremental market share to 17.6%, supported by a jump in FinTech‑sourced onboarding and 40+ API rollouts to reduce friction. They acknowledged margin headwinds from upfront onboarding revenue sharing and a roughly 40% rise in standalone employee costs tied to recent tech and cybersecurity hiring, noting manpower adequacy and a cautious hiring stance going forward. Technology spend was described as front‑loaded to bolster resilience and automation, and management expects margins and profitability to stabilize as acquired customers shift from onboarding fees to transaction activity and operating leverage normalizes over the medium term.

NSDL Stock Growth Drivers
NSDL Stock Growth Drivers
7
  • Robust Account Growth and Market Share Gains

    The company demonstrated sustained expansion in investor participation and demat-account market share: net demat account

  • Product‑Led Acquisition and Distribution Expansion

    Targeted product offerings and distribution initiatives are translating into measurable acquisition wins: youth and women-focused

NSDL Stock Challenges
NSDL Stock Challenges
5
  • Persistent foreign investor outflows and renewed geopolitical risk

    Foreign portfolio investors were net sellers for a third consecutive quarter, creating sustained external selling

  • Standalone margin compression from strategic investments and higher payroll costs

    Standalone margins have moderated versus prior periods as management is deliberately investing in strategic focus

NSDL Forecast

NSDL Forecasts

Price

Revenue

Earnings

NSDL

NSDL

Income

Balance Sheet

Cash Flow

NSDL Income Statement

NSDL Income Statement

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Quarterjun 2024sep 2024dec 2024mar 2025jun 2025sep 2025dec 2025mar 2026jun 2026
Total Revenue365.32385.82391.89394.56346.79432.22394.35486.80560.70
Operating & Other expensessubtract256.82243.81271.61272.41217.25273.46253.56355.61415.66
Depreciation/Amortizationsubtract7.798.129.3410.169.5811.1013.4113.9414.50
Interest & Other Itemssubtract0.730.831.321.231.611.471.911.701.70
Taxes & Other Itemssubtract22.1636.8823.8227.4628.7235.8035.8525.4330.66
EPS3.894.814.294.164.485.524.484.514.91

NSDL Company Updates

Annual Report and Investor Presentation updates mentioned here are as reported by the company to the exchange
FY 2026FY 2026

Annual report

PDF
FY 2025FY 2025

Annual report

PDF
 

NSDL Stock Peers

NSDL Past Performance & Peer Comparison

NSDL Past Performance & Peer Comparison

Comparing 3 stocks from 
FinancialsStock Exchanges & Ratings

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StockPE RatioPE RatioPB RatioPB RatioDiv. YieldDividend Yield
National Securities Depository Ltd36.935.890.57%
National Stock Exchange of India Ltd42.8113.731.96%
BSE Ltd57.3421.070.28%
Multi Commodity Exchange of India Limited60.9528.500.25%
ScreenerCompare valuation on Screener

NSDL Stock Price Comparison

Compare NSDL with any stock or ETF
Compare NSDL with any stock or ETF
NSDL
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NSDL Holdings

NSDL Shareholdings

NSDL Promoter Holdings Trend

NSDL Promoter Holdings Trend

Total Promoter Holding
Increasing promoter holding is considered good and reflects management’s positive view about the future outlook

In last 6 months, promoter holding in the company has almost stayed constant

Low Pledged Promoter Holding
Lower pledged promoter holdings is considered better

Pledged promoter holdings is insignificant

NSDL Institutional Holdings Trend

NSDL Institutional Holdings Trend

Increased Total Retail Holding
Increasing retail holding can be considered bad as it can reflect that institutions and promoters are selling their stake which is being absorbed by retail investors.

In last 3 months, retail holding in the company has increased by 2.66%

Decreased Foreign Institutional Holding
Foreign Institutional Holding is quantum of stock held by foreign large-quantities-trading entities. Increasing value indicates growing support and comfort for the stock

In last 3 months, foreign institutional holding of the company has decreased by 3.97%

Tickertape Separator

NSDL Shareholding Pattern

NSDL Shareholding Pattern

Retail and OthersForeign InstitutionsOther Domestic InstitutionsMutual FundsTotal Promoter Holding0.00%0.46%37.72%7.73%54.09%

Dec 2025

Mar 2026

Jun 2026

Sep 2026

NSDL Shareholding History

NSDL Shareholding History

AugSepDec '25MarJunSep15.57%15.90%3.29%14.40%11.70%7.73%

Mutual Funds Invested in NSDL

Mutual Funds Invested in NSDL

No mutual funds holding trends are available

Top 5 Mutual Funds holding National Securities Depository Ltd




Funds (Top 5)Market-cap heldWeight3M holding changePortfolio rank
(3M change)
0.2142%0.92%-0.10%68/96 (-3)
0.1071%1.10%1.10%71/115 (+40)
0.0385%0.87%-0.10%57/73 (-9)

Compare 3-month MF holding change on Screener

NSDL Insider Trades & Bulk Stock Deals

NSDL Insider Trades & Bulk Stock Deals

Hmm, looks like there hasn't been any net deal activity in the last 6 months

smallcases containing NSDL stock

smallcases containing NSDL stock

Looks like this stock is not in any smallcase yet.

NSDL Events

NSDL Events

NSDL Dividend Trend

Dividend Yield
Dividend return is one of the most important things to be considered while investing for long term. It is the additional return on top of what investors earn through price appreciation

Current dividend yield is 0.57%. An investment of ₹1,000 in the stock is expected to generate dividend of ₹5.66 every year

Dividends

Corp. Actions

Announcements

Legal Orders

NSDL Dividend Trend

Dividend Yield
Dividend return is one of the most important things to be considered while investing for long term. It is the additional return on top of what investors earn through price appreciation

Current dividend yield is 0.57%. An investment of ₹1,000 in the stock is expected to generate dividend of ₹5.66 every year

NSDL Upcoming Dividends

NSDL Upcoming Dividends

No upcoming dividends are available

NSDL Past Dividends

NSDL Past Dividends

Cash Dividend

Ex DateEx DateSep 11, 2026

Final
Final | Div/Share: ₹4.00

Dividend/Share

₹4.00

Ex DateEx Date

Sep 11, 2026

Cash Dividend

Ex DateEx DateSep 19, 2025

Final
Final | Div/Share: ₹2.00

Dividend/Share

₹2.00

Ex DateEx Date

Sep 19, 2025

NSDL Stock News & Opinions

NSDL Stock News & Opinions

Corporate
Corporate
SEBI approved Sriram Krishnan's reappointment as NSDL director through September 2026

National Securities Depository Limited (NSDL) announced that the Securities and Exchange Board of India (SEBI) has approved the re-appointment of Mr. Sriram Krishnan (DIN 07816879) as a Non-Independent Director on its Governing Board, effective September 22, 2026.

2 weeks agoCapital Market - Live
Corporate
Corporate
National Securities Depository Limited closes trading window ahead of financial results announcement

National Securities Depository Limited will hold a board meeting on Saturday, October 31, 2026, to consider and approve unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2026, along with the limited review report thereon; the trading window for dealing in the company's securities has been closed from October 1, 2026, and will reopen 48 hours after the announcement of the financial results.

3 weeks agoCapital Market - Live
Corporate
Corporate
National Securities Depository Limited confirms receipt from MUFG Intime India Private Limited

National Securities Depository Limited submitted a certificate to the BSE Limited on October 8, 2026, confirming receipt from MUFG Intime India Private Limited, formerly Link Intime India Private Limited, under Regulation 74(5) of the Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018, for the quarter ended September 30, 2026.

3 weeks agoCapital Market - Live
Corporate
Corporate
Ashish Dandekar to join National Securities Depository as CTO on September 29, 2026

National Securities Depository Limited announced the appointment of Ashish Dandekar as Chief Technology Officer, effective September 29, 2026, and the resignation of Kothandaraman Prabhakaran from the same position, effective September 28, 2026, who will continue as Executive Vice President until October 12, 2026.

1 month agoCapital Market - Live
Corporate
Corporate
National Securities Depository Limited closes trading window per SEBI regulations in 2026

National Securities Depository Limited will close its trading window for designated persons, connected persons, and their immediate relatives starting October 1, 2026, in compliance with the SEBI (Prohibition of Insider Trading) Regulations, 2015, and the company’s code of conduct; the window will reopen 48 hours after the announcement of the unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2026.

1 month agoCapital Market - Live
Corporate
Corporate
Ankit Sharma joins NSDL’s Governing Board as Executive Director for five years

National Securities Depository Limited (NSDL) announced that Mr. Ankit Sharma (DIN: 10496270) has joined as Executive Director - Vertical 2 (Regulatory, Compliance, Risk Management & Investor Grievances) on the company’s Governing Board, effective September 21, 2026, for a period of five years. Mr. Sharma, who previously served as Chief Regulatory Officer – Listing & Investor Compliance at the National Stock Exchange of India (NSE), brings over 30 years of experience in capital markets compliance and regulatory affairs.

1 month agoCapital Market - Live
Corporate
Corporate
NSE appoints Subhash Kelkar and Ankit Sharma as Executive Directors to key verticals

The National Stock Exchange of India (NSE) has appointed Subhash Kelkar and Ankit Sharma as Executive Directors. Kelkar, aged 58, joins as Executive Director - Vertical 1 (Critical Operations), bringing nearly 33 years of experience including roles as Chief Technology Officer at BSE and Chief Technology & Digital Officer at ICICI Securities. Sharma, 57, assumes the role of Executive Director - Vertical 2 (Regulatory, Compliance, Risk Management & Investor Grievance), with over 30 years of experience previously serving as Chief Regulatory Officer at NSE and Head – Compliance & Legal at ICICI Securities. Both appointees hold no shares in the company and will be compensated through sitting fees. Additionally, Subhash Kelkar has been reappointed to the NSE board and is liable to retire by rotation, with details of his terms outlined in related resolutions.

1 month agoCapital Market - Live
Earnings
Earnings
National Securities Depository consolidated net profit rises 9.55% in the June 2026 quarter

Net profit of National Securities Depository rose 9.55% to Rs 98.19 crore in the quarter ended June 2026 as against Rs 89.63 crore during the previous quarter ended June 2025. Sales rose 65.57% to Rs 516.63 crore in the quarter ended June 2026 as against Rs 312.03 crore during the previous quarter ended June 2025. ParticularsQuarter EndedJun. 2026Jun. 2025% Var. Sales516.63312.03 66 OPM %19.5430.37 - PBDT143.34127.93 12 PBT128.84118.35 9 NP98.1989.63 10 Powered by Capital Market - Live

3 months agoCapital Market - Live
Corporate
Corporate
National Securities Depository Limited schedules AGM on September 22, 2026, via video conference

National Securities Depository Limited will hold its 14th Annual General Meeting on September 22, 2026, at 11:30 AM via video conferencing and other audio visual means, according to a regulatory filing with the BSE Limited. The company has fixed September 11, 2026, as the record date for the purpose of payment of dividend, which was recommended at Rs. 4 per equity share, and has appointed M/s. Mihen Halani & Associates as the scrutinizer for the e-voting process.

3 months agoCapital Market - Live
Corporate
Corporate
National Securities Depository to announce Quarterly Result

National Securities Depository will hold a meeting of the Board of Directors of the Company on 30 July 2026.

3 months agoCapital Market - Live

Frequently asked questions

  1. The share price of NSDL as on 30th October 2026 is ₹703. The stock prices are volatile and keep changing through the day depending upon various factors and market conditions.

  2. The past returns of National Securities Depository Ltd (NSDL) share are
    • Past 1 week: -2.46%
    • Past 1 month: -6.45%
    • Past 3 months: -14.84%
    • Past 6 months: -20.41%
    • Past 1 year: -40.19%
    • Past 3 years: N/A%
    • Past 5 years: -25.10%

  3. The current dividend yield of National Securities Depository Ltd (NSDL) is 0.57.

  4. Market capitalization, short for market cap, is the market value of a publicly traded company's outstanding shares. The market cap of National Securities Depository Ltd (NSDL) is ₹14022 Cr as of 30th October 2026.

  5. The 52-week high of National Securities Depository Ltd (NSDL) is ₹1198 and the 52-week low is ₹688.

  6. The P/E (price-to-earnings) ratio of National Securities Depository Ltd (NSDL) is 36.93. The P/B (price-to-book) ratio is 5.89.

  7. National Securities Depository Ltd (NSDL) belongs to the Financials sector & Stock Exchanges & Ratings sub-sector.

  8. You can directly buy National Securities Depository Ltd (NSDL) shares on Tickertape. Simply sign up, connect your demat account and place your order.