Quarterly Results Update (Standalone)

Financial Performance Q2 FY27:

  • Total Income: ₹279.8 crore (up 11.7% YoY and 27.4% QoQ)
  • Revenue from Operations: ₹227.8 crore (up 11.6% YoY and 25.1% QoQ)
  • Other Income: ₹52.0 crore (up 12.1% YoY and 38.7% QoQ)
  • Total Expenses: ₹118.1 crore (up 22.5% YoY and 15.4% QoQ)
  • Operating Profit: ₹109.7 crore (up 1.8% YoY and 37.4% QoQ)
  • Operating Profit Margin: 48.1% (vs 52.8% in Q2 FY26)
  • Profit Before Tax: ₹161.7 crore (up 4.9% YoY and 37.8% QoQ)
  • Profit After Tax: ₹126.7 crore (up 5.2% YoY and 42.1% QoQ)
  • PAT Margin: 45.3% (vs 48.1% in Q2 FY26)
  • EPS: ₹6.33 (vs ₹6.02 in Q2 FY26)

Half-Year Performance H1 FY27:

  • Total Income: ₹499.5 crore (up 13.3% YoY)
  • Revenue from Operations: ₹410.0 crore (up 12.3% YoY)
  • Profit After Tax: ₹215.8 crore (up 6.3% YoY)
  • EPS: ₹10.79 (vs ₹10.15 in H1 FY26)

Expense Breakdown Q2 FY27:

  • Employee benefits expense: ₹35.1 crore (up 22.3% YoY)
  • Technology related expense: ₹32.4 crore (up 52.2% YoY)
  • Depreciation & amortisation expense: ₹9.8 crore (up 51.6% YoY)
  • Contribution to investor protection fund: ₹5.7 crore (up 4.6% YoY)
  • Other expenses: ₹35.1 crore (up 1.8% YoY)

Operating Revenue Breakdown Q2 FY27:

  • Recurring Fee (44.7% of total): ₹101.8 crore (Annual Custody Fee, up 14.5% YoY)
  • Non-Recurring Fee (55.3% of total): ₹126.0 crore (up 9.3% YoY)
  • Settlement Fee: ₹15.5 crore (up 11.2% YoY)
  • Pledge Fee: ₹17.2 crore (up 18.1% YoY)
  • e-Voting: ₹31.9 crore (up 10.2% YoY)
  • CA/IPO: ₹36.5 crore (up 24.2% YoY)
  • Other transaction charges: ₹25.0 crore (down 12.4% YoY)

Key Performance Indicators

Account Growth Q2 FY27:

  • Gross demat accounts added: 17.8 lakh
  • Net demat accounts added: 15.6 lakh (vs 13.9 lakh in Q2 FY26)
  • Incremental market share: 17.2%

H1 FY27 Account Growth:

  • Gross accounts added: 32.4 lakh
  • Net accounts added: 27.9 lakh
  • Incremental market share: 17.4%
  • NSDL growth rate: 14.9% vs industry growth of 9.9%

Depository Participant Network:

  • 10 new DPs onboarded during H1 FY27
  • Total DP network expanded to 320 DPs

Key Achievements Q2 & H1 FY27

1. DP Onboarding Momentum: Onboarded 10 new DPs during H1 FY27

2. Demat Account Growth: 32.4 lakh gross accounts added in H1 FY27

3. Form 121 Submission: Enabled on NSDL website using PAN and OP without login

4. DEMAT 2.0: Developed DLT platform for tokenized corporate bonds and wholesale CBDC infrastructure

5. NSE EGR API Integration: Automated Electronic Gold Receipt creation with NSE

6. OBPP API Connectivity: Introduced for Online Bond Platform Providers for real-time account validation

Subsidiaries Overview

NDML (National Depository Services Limited) Business:

  • National Insurance Repository: 17.5 million insurance policies digitized
  • KYC Registration Agency: 20.6 million KYC records, 2,057 intermediaries
  • National Skill Registry: 2.6 million IT professionals
  • Registrar & Transfer Agent: 10,283 issuers, 30,365 ISINs
  • SurePay Digital Payments: 785 merchants onboarded
  • Instigo e-KYC Platform: 12 cumulative SRIs issued
  • Accreditation Agency: 2,336 certificates issued

NPBL (NSDL Payments Bank Limited) Business:

  • Customer Acquisition: 1.1 million new accounts, 5.4 million active customers (H1 FY27)
  • Service Points: 7,244 customer service points across India
  • NCMC Smartcards: 1.3 crore MSRTC registrations, over ₹100 crore cumulative card loads (October 2026)
  • Transaction Volumes H1 FY27:
  • AePS Services: ₹44.3 billion transactions
  • UPI CW Services: ₹133.5 billion transfers
  • Micro-ATMs: ₹253.7 billion withdrawals
  • UPI Acquiring: ₹439.2 billion transactions
  • Prepaid Cards: ₹55.1 billion transactions
  • Cash Management Services: Collections via BC network
  • Ownership: NSDL (95.05%), Protean eGov Technologies (4.95%)

Consolidated Financial Performance Q2 FY27

  • Total Income: ₹582.6 crore (up 34.8% YoY and 3.9% QoQ)
  • Revenue from Operations: ₹545.9 crore (up 36.5% YoY and 5.7% QoQ)
  • Total Expenses: ₹420.2 crore (up 47.6% YoY)
  • Operating Profit: ₹125.2 crore (up 9.8% YoY and 47.4% QoQ)
  • Operating Profit Margin: 22.9% (vs 28.5% in Q2 FY26)
  • Profit Before Tax: ₹161.9 crore (up 10.8% YoY and 25.7% QoQ)
  • Profit After Tax: ₹122.5 crore (up 10.9% YoY and 24.6% QoQ)
  • PAT Margin: 21.0% (vs 25.5% in Q2 FY26)
  • EPS: ₹6.12 (vs ₹5.52 in Q2 FY26)

Shareholding Pattern (as of September 30, 2026)

  • Foreign Institutional Investors (FII): 8.2% (65 shareholders)
  • Domestic Institutional Investors (DII): 38.2% (34 shareholders)
  • Public: 53.6% (907,527 shareholders)
  • Total Shareholders: 907,626

Major Shareholders:

  • Canara Bank: 2.3%
  • LIC: 0.9%
  • Dharampal Satyapal Limited: 0.7%
  • Bank of Baroda: 0.6%
  • Citibank N.A.: 0.5%
  • Whiteoak: 0.5%
  • Others: 41.3%

Board of Directors and Management

The document lists the experienced board members and senior management team with their years of experience and previous organizations.

Disclaimer

The presentation includes standard safe harbor rules stating that the information is subject to change without notice and should not be considered as investment recommendation. It also notes the use of Non-GAAP measures for supplemental informational purposes.