Date: July 08, 2026

KMP / Board / Auditor Changes

Not Specified

Dividend Declaration or Non-Declaration

Not Specified

Board Meeting Outcomes

Not Specified

Financial Results (Standalone & Consolidated)

Not Specified

Auditor’s Report

Not Specified

Disinvestment / Strategic Actions

Not Specified

Other Operational / Legal / Strategic Disclosures

Document Overview:

This is a regulatory filing of the Business Responsibility and Sustainability Report (BRSR) for FY 2025-26, submitted to the National Stock Exchange of India Ltd. pursuant to SEBI LODR Regulation 34(2)(f).

Company Details:

  • Corporate Identity Number (CIN): L67120MH1997PLC112443
  • Year of Incorporation: December 12, 1997
  • Corporate Office: Unit No. A-3401, Marathon Futurex, Mafatlal Mills Compound, N.M. Joshi Marg, Lower Parel (East), Mumbai - 400013
  • Contact: shareholders@cdslindia.com, Telephone: 02262343000
  • Paid-up Capital: ₹209,00,00,000 (INR Two Hundred Nine Crore)
  • Reporting Boundary: Standalone basis
  • Financial Year: April 1, 2025 to March 31, 2026
  • Stock Exchange: National Stock Exchange of India Limited (NSE)
  • BRSR Contact: Shri Nilay Shah, Company Secretary & Compliance Officer

Business Activities:

  • 100% revenue from Depository Services (NIC Code: 661101) under Financial Services
  • No export revenue; purely domestic operations
  • Markets served: 36 States/Union Territories nationally
  • Customers: Depository Participants (DPs), Issuers, Registrar & Transfer Agents (RTAs), Clearing Members (CMs), Clearing Corporations (CCs), Alternative Investment Funds (AIFs)

Operations:

  • 14 offices nationally (Kanpur office ceased operations December 2025 but included in reporting period count)
  • No international offices or plants

Employee Data (as of March 31, 2026):

  • Total Employees: 625
  • Permanent: 494 (Male: 366 [74.09%], Female: 128 [25.91%])
  • Other than Permanent: 131 (Male: 90 [68.70%], Female: 41 [31.30%])
  • Differently Abled Employees: 4 total (Permanent: 3 [Male: 2, Female: 1], Other: 1 [Male])
  • No 'workers' as defined by SEBI BRSR guidance
  • Turnover Rate (Permanent Employees): FY26 - 5.80% (Male: 4.86%, Female: 8.37%); FY25 - 10.03%; FY24 - 10.75%

Leadership Representation:

  • Board of Directors: 9 total, 3 female (33.33%)
  • Key Management Personnel: 19 total, 2 female (10.53%)

Subsidiaries/Associates (as of March 31, 2026):

1. CDSL Ventures Limited - Subsidiary (100% owned)

2. Centrico Insurance Repository Limited - Subsidiary (54.25% owned, including 3.25% through CDSL Ventures)

3. Countrywide Commodity Repository Limited - Subsidiary (52% owned)

4. India International Bullion Holding (IFSC) Limited - Associate (20% owned)

CSR Applicability:

  • CSR Applicable: Yes (Section 135 of Companies Act, 2013)
  • Turnover: ₹960,45,23,000
  • Net Worth: ₹1,598,17,16,000

Grievance Redressal (FY 2025-26):

  • Shareholders: 14 complaints received, all resolved
  • Beneficiary Owners (BOs): 3,321 complaints received, 123 pending at year-end (all March 2026 complaints resolved subsequently)
  • Whistleblower: 2 complaints received, 1 resolved in FY26, 1 resolved in FY27
  • Communities, Employees, Customers, Value Chain Partners: NIL complaints
  • All complaints resolved within regulatory timelines

Material Responsible Business Conduct Issues:

CDSL identified 8 material issues:

1. Resource Efficiency & GHG Emissions (Risk) - Negative implications

2. Community Development (Opportunity) - Positive implications

3. Financial Literacy (Opportunity) - Positive implications

4. Customer Relationship Management (Risk & Opportunity) - Negative & Positive implications

5. Human Capital Development (Risk & Opportunity) - Negative & Positive implications

6. Business Continuity (Risk) - Negative implications

7. Corporate Governance, Ethics & Risk Management (Risk) - Negative implications

8. Information and Cybersecurity (Risk) - Negative implications

Policy Framework:

  • Policies cover all NGRBC Principles, approved by Board
  • Policies translated into procedures and extend to value chain partners where relevant
  • National/International Standards: ISO 27001:2022, ISO 22301:2019, UN Sustainable Development Goals (SDGs)
  • ESG commitments: Process initiated to define department-wise KPIs for measurable targets

Governance Structure:

  • Highest authority: Governing Board, particularly MD & CEO
  • Committees: CSR & ESG Committee and Risk Management Committee oversee sustainability issues
  • Policy review: Conducted as per policy clauses and regulatory developments
  • No external assessment of policies conducted

Principle-wise Disclosures:

Principle 1 (Ethics, Transparency, Accountability):

  • Training Coverage: Board (100%, 7 programs), KMPs (100%, 22 programs), Other Employees (95.35%, 39 programs)
  • Financial Disincentive: ₹3 crore paid to CDSL Investor Protection Fund (April 15, 2025) per SEBI Master Circular for technical glitches (2021-2024)
  • Anti-Corruption: Comprehensive Anti-Bribery and Anti-Corruption Policy in place
  • No disciplinary actions for bribery/corruption against Directors/KMPs/employees
  • Accounts Payable Days: 32.96 days (FY26) vs 28.26 days (FY25)
  • Related Party Transactions: Purchases 0.29%, Sales 0.46%, Investments 8.94%

Principle 2 (Sustainable Goods/Services):

  • 0% R&D/Capex in environmental/social impact technologies
  • No sustainable sourcing procedures (service-based company)
  • No product reclamation processes (no physical products)
  • Extended Producer Responsibility not applicable

Principle 3 (Employee Well-being):

  • Permanent Employees: 100% coverage for health insurance, accident insurance, maternity/paternity benefits, day care
  • Other than Permanent: 71.76% accident insurance, 16.03% maternity benefits, 100% day care facilities
  • Retirement Benefits: 100% PF and Gratuity coverage for employees
  • Workplace Accessibility: Compliant with Rights of Persons with Disabilities Act, 2016
  • Equal Opportunity Policy: Part of internal service rules
  • Parental Leave Return: 92.31% return rate, 100% retention rate
  • Grievance Mechanism: Formal structure with escalation framework
  • Training: 27.13% employees received skill upgradation training
  • Performance Reviews: 94.13% of permanent employees reviewed
  • Health & Safety: Comprehensive system including floor marshals, fire safety, medical support
  • No safety incidents, fatalities, or high-consequence injuries

Principle 4 (Stakeholder Responsiveness):

  • Key Stakeholders Identified: Shareholders, Beneficial Owners, Employees, Regulators, Communities, DPs, RTAs, Stock Exchanges/CCs, Suppliers/Vendors
  • Structured engagement processes with frequency varying by stakeholder group

Principle 5 (Human Rights):

  • 68.16% employees received human rights training
  • All employees paid above minimum wage
  • Median Remuneration: Board ₹5.08 crore, KMPs ₹1.13-1.70 crore, Other Employees ₹10.18-14.28 lakh
  • Female wages: 19.01% of total wages
  • Focal Point: HR function and Internal Complaints Committee
  • No human rights complaints except 1 sexual harassment case in FY25 (resolved)
  • Human rights clauses included in vendor agreements

Principle 6 (Environmental Protection):

  • Energy Consumption: 5,302.90 GJ total (5,196.28 GJ electricity, 106.62 GJ fuel)
  • Energy Intensity: 0.06 GJ/₹ lakh turnover, 8.48 GJ/FTE
  • Water Consumption: 77,627.03 KL withdrawal, 43,126.13 KL consumption
  • Water Intensity: 0.45 KL/₹ lakh turnover, 69.00 KL/FTE
  • GHG Emissions: Scope 1 - 6.95 MT CO2e, Scope 2 - 1,024.39 MT CO2e
  • Emission Intensity: 0.01 MT CO2e/₹ lakh turnover, 1.65 MT CO2e/FTE
  • Waste Generated: 5.51 MT total (E-waste: 2.36 MT, Battery waste: 1.16 MT, Other: 1.98 MT, Plastic: 0.01 MT)
  • Waste Management: E-waste and battery waste through authorized recyclers
  • No operations in ecologically sensitive areas
  • Compliant with all environmental laws
  • Environmental data assured by TUV India Private Limited

Principle 7 (Responsible Policy Influence):

  • 3 industry affiliations: ACG-Asia Pacific CSD Group, AECSD, ISSA (all international)
  • No adverse orders regarding anti-competitive conduct
  • Public Policy Advocacy: Representation to Parliamentary Standing Committee on Finance regarding Securities Market Code Bill, 2025

Principle 8 (Inclusive Growth):

  • No Social Impact Assessments required for projects
  • No Rehabilitation & Resettlement projects
  • Community grievance mechanism through CSR partners
  • 31.51% inputs sourced from MSMEs/small producers
  • 98.59% inputs sourced from within India
  • Wage Distribution: Metropolitan 99.42%, Urban 0.58%, Semi-urban/Rural 0%
  • CSR in Aspirational Districts: ₹30.71 lakh spent across 18 districts in 10 states
  • CSR Beneficiaries: 109,000+ lives impacted across 13 projects

Principle 9 (Responsible Consumer Engagement):

  • Multi-channel grievance mechanism: email, website, SCORES, SMART ODR
  • No consumer complaints regarding data privacy, advertising, cybersecurity, essential services, trade practices
  • 411 BO complaints received (14 pending at year-end, all March complaints resolved subsequently)
  • Cybersecurity and data privacy policies in place
  • No data breaches
  • Consumer education through investor awareness programs (3,600+ IAPs, 200,000+ participants)
  • Customer satisfaction survey commissioned

Assurance:

  • Assurance Provider: TUV India Private Limited
  • Type: Reasonable Assurance - BRSR Core
  • Assured Indicators: GHG emissions, water footprint, energy consumption, waste management