National Securities Depository Limited · BSE:NSDL
National Securities Depository — Q2 FY26 Earnings Presentation
25 slides from National Securities Depository's earnings presentation, Nov 14, 2025
Slide 1: BSE filing cover letter: revised presentation on conference call
NSDL/AF/BSE/2025/032 Date: November 14, 2025 To, Listing Compliance Department BSE Limited, Phiroze Jeejeebhoy Towers Dalal Street Mumbai 400 001 Dear Sir/Madam, Scrip Code: 544467 ISIN: INE301O01023 Sub.: Revised Presentation on conference call held on November 13, 2025 Ref.: Regulation 30 of the S
Slide 2: Earnings Presentation for the quarter ended September 2025
Earnings Presentation For the quarter ended September 2025 November 13, 2025
Slide 3: Table of contents
Table of contents 01 Company Overview 02 Standalone Highlights 03 Key Subsidiaries 04 Consolidated Highlights
Slide 4: Company Overview
© NSDL jology, Trust & Reac Company Overview
Slide 5: NSDL Depository – Service Offerings
NSDL Depository – Service Offerings Offers wide range of digitally enabled products & services leveraging technological expertise & leadership position Core Depository Services Suite of E-Services Ancillary Products & Value-Added Services • Dematerialization of Securities services to investors, • Di
Slide 6: What's New?
What’s New? Simplified Post-Trade Reporting Direct Securities Payout Common Contract Note via STeADY Platform: Direct Credit to Investor Demat Account: Securities are Consolidates trades across exchanges into a single credited directly to the investor, bypassing broker harmonized note for easier rep
Slide 7: Highlights Q2 FY26 (Standalone)
Highlights Q2 FY 26 (Standalone)
Slide 8: NSDL - At a Glance
NSDL - At a Glance 1st 86.3% 62.2% # 41.9 mn India’s First & Largest Depository Market share by Total Demat Market Share of Individuals* & Demat Accounts pioneering since 1996 Custody Value HUFs Custody Value 99.99% 97.8%(1) # 220,469 | 65.93%(1) ₹ 12.0 mn Serviced value of securities FPI Market sha
Slide 9: Key Metrics
Key Metrics… 16,500 16,467 75. 00% 450.00 16,434 16,401 16,368 16,335 16,302 16,269 16,236 Demat – 16,203 16,170 700.0 448.00 16,137 16,104 698.0 16,071 16,038 696.0 694.0 (In lakhs) 16,005 15,972 692.0 15,939 15,906 690.0 Custody Value 15,873 15,840 688.0 446.00 15,807 686.0 (In Tn) 15,774 684.0 In
Slide 10: BO account distribution state-wise
BO account distribution state-wise • Incremental accounts continues to be 10 -States contributing to 75% dominant from these states State % distribution • NSDL crossed 4 cr BO account in May MAHARASHTRA 18% 25, covering 19,000+ PIN codes with GUJARAT 10% service center operated through 299 DP UTTAR
Slide 11: Financial Highlights Q2 FY26 (Standalone)
Financial Highlights Q2 FY26 (Standalone)
Slide 12: NSDL Key Highlights
NSDL Key Highlights • In Q2 FY26, total income rose 18.9% YoY and • Revenue from operation increased YOY by • NSDL has received dividend from its 31.6% sequentially to Rs 250.6 cr 20.7% and sequentially by 26.8% to Rs subsidiary, NDML, of Rs 18.3 cr in Q2FY26 204.2 cr. and Q2FY25, respectively • Inc
Slide 13: Financial Highlights
Financial Highlights (‘In Cr) Year Quarter ended Half year ended ended Growth Growth Growth Particulars Q2 FY25 Q1 FY26 Q2 FY26 H1 FY25 H1 FY26 Mar-25 YoY % QoQ % YoY % Total Income 210.8 190.4 250.6 18.9% 31.6% 367.3 441.0 20.1% 731.4 Revenue from Operations 169.1 161.0 204.2 20.7% 26.8% 303.8 365.
Slide 14: Financial Results
Financial Results (‘In Cr) Year Quarter ended Half year ended ended Growth Growth Growth Particulars Q2 FY25 Q1 FY26 Q2 FY26 H1FY25 H1 FY26 FY25 YoY % QoQ % YoY % Income Revenue from Operations 169.1 161.0 204.2 20.7% 26.8% 303.8 365.1 20.2% 618.6 Other Income 41.6 29.5 46.4 11.4% 57.4% 63.5 75.9 19
Slide 15: Operating Revenue
Operating Revenue (‘In Cr) Growth Growth Particulars Q2 FY25 Q1FY26 Q2 FY26 FY 25 YoY % QoQ % Recurring Fee 36.4% 46.6% 43.4% 40.8% Annual Custody fee* 61.6 75.0 88.7 44.0% 18.2% 252.2 Non-Recurring Fee 63.6% 53.4% 56.6% 59.2% Corporate Action (includes IPO fees) 27.7 15.8 29.4 6.2% 86.3% 106.8 e-Vo
Slide 16: Experienced Senior Management team
Experienced Senior Management team Mr. Vijay Chandok MD & CEO ~31 years of experience in the financial services industry ICICI Bank, ICICI Securities Limited Mr. Jigar Shah Mr. Prashant Vagal, Mr. Sameer Patil Chief Financial Officer Chief Operating Officer Chief Business Officer ~17 years of experi
Slide 17: Experienced Board of Directors
Experienced Board of Directors Mr. Parveen Kumar Gupta Dr. Madhu Sudan Sahoo Rajat Moona Chairman & Public Interest Director Public Interest Director Public Interest Director ~40 years of experience in banking ~40 years of experience in economic ~33 years of experience in teaching industry and has b
Slide 18: Shareholding Pattern
Shareholding Pattern – September 30, 2025 Small Cap World Fund INC, LIC, 0.9% 1.6% Fidelity , 1.2% Canara Bank, 2.3% Union Bank of India, Category Shareholding (%) No. of Shareholder 2.6% State Bank of India, 3.0% NSE, 15.0% Foreign Institutional Investor 15.90% 49 (FII) HSBC, 3.1% Domestic Institut
Slide 19: Key Subsidiaries
© NSDL Technology, Trust & Reach Key Subsidiaries
Slide 20: 100% profitable wholly owned subsidiaries
100% profitable wholly owned subsidiaries • Offers digital banking services through a mobile app National • Acts as an repository for digitization of insurance policies NSDL Jiffy – Insurance • Opened 8.4 lakhs new CASA accounts in H1 FY 26 • Managing ~13.62 mn insurance policies Account opening Rep
Slide 21: Highlights Q2 FY26 (Consolidated)
Highlights Q2 FY 26 (Consolidated)
Slide 22: Financial Highlights
Financial Highlights (‘In Cr) Quarter ended Half Year ended Year ended Growth Growth Growth Particulars Q2 FY25 Q1 FY26 Q2 FY26 H1 FY25 H1 FY26 Mar-25 YoY % QoQ % YoY % Total Income 385.3 346.8 432.2 12.2% 24.6% 750.2 779.0 3.8% 1,535.2 Revenue from Operations 356.7 312.0 400.0 12.2% 28.2% 694.0 712
Slide 23: Financial Results
Financial Results (‘In Cr) Quarter ended Half Year ended Year ended Growth Growth Growth Particulars Q2 FY25 Q1 FY 26 Q2 FY26 H1 FY25 H1 FY26 FY25 YoY % QoQ % YoY % Income Revenue from Operations 356.7 312.0 400.0 12.2% 28.2% 694.0 712.1 2.6% 1,420.1 Other income 28.6 34.8 32.2 12.5% (7.4%) 56.2 66.
Slide 24: Safe Harbour Rules
Safe Harbour Rules This presentation document is for your information and neither this presentation nor any part thereof shall be (i) copied, photocopied, duplicated or otherwise reproduced in any form or by any means; or (iii) re-circulated, redistributed, passed on, published in any media, website
Slide 25: Thank You – Reach out to us
© NSDL Technology, Trust & Reach Thank You For Your Attention Reach out to us — IR@nsdl.com
National Securities Depository — Q2 FY26 Earnings Presentation on 6ix