CDSL shares in focus after Q2 profit jumps 24%; demat base grows 17%

Shares of Central Depository Services (India) Limited (CDSL) will be in focus on Monday, November 2, after the market infrastructure institution reported a 24% year-on-year (YoY) increase in consolidated net profit to ₹173.9 crore for the September quarter, compared with ₹140.2 crore in the corresponding quarter last year.

Revenue rose 23.7% YoY to ₹395 crore from ₹319 crore last year. Earnings before interest, tax, depreciation and amortisation (EBITDA) stood at ₹229 crore, while the EBITDA margin improved to 58% from 56% a year ago.

Nehal Vora, Managing Director and Chief Executive Officer of CDSL, said, “Despite global macroeconomic volatility, participation in India’s securities market continues to demonstrate resilience. CDSL’s demat account base grew by around 17% year-on-year as of the end of Q2.”

He added that the continued growth in market participation was driving the company to further strengthen its operations and value proposition.

Assets under custody cross ₹89 lakh crore

CDSL added around 75 lakh new demat accounts during the September quarter, taking its total demat account base to 19.34 crore as of September 30, 2026. The account base grew around 17% year-on-year.

The company’s assets under custody (AUC) crossed ₹89 lakh crore during the quarter, compared with ₹85 lakh crore in the June quarter, according to its investor presentation. The number of issuers on the platform increased to 51,132 from 48,103 a year ago.

Strategic investments and partnerships

During the quarter, CDSL made further investments in India International Bullion Holding IFSC Limited (IIBHL) to support IT infrastructure development, among other areas.

It also made a strategic investment in the Open Network for Digital Commerce (ONDC), an initiative of the Department for Promotion of Industry and Internal Trade (DPIIT), under the Ministry of Commerce and Industry.

Separately, CDSL subsidiary Centrico Insurance Repository Limited entered into a software development partnership agreement with Shoveltech Solutions, which operates in the health-tech domain.

Investor education initiatives

CDSL’s Investor Protection Fund launched a multilingual investor education film with Amar Chitra Katha, based on its comic ‘The Garden of Prosperity’, which is available in 12 languages.

In collaboration with Yuva Unstoppable, it also began distributing investor education comics to nearly 21,000 students across 60 schools. The fund launched ‘Invest Vidya’, an investor education YouTube series, and conducted over 700 investor awareness programmes across India during the quarter.

Shares of CDSL ended 1.5% lower at ₹1,263 ahead of the results announcement on Friday, October 30. The stock has declined about 13% so far this year and close to 21% over the last 12 months.