Central Depository Services (India) (CDSL) Q2 25/26 earnings summary

Executive summary

• Reported total income of INR 341 crore and net profit of INR 140 crore for Q2 FY26 on a consolidated basis, both lower year-over-year due to absence of one-time dividend income seen in prior quarters.

• Standalone net profit for Q2 FY26 was INR 128 crore, with total income at INR 290 crore.

• Achieved 25 years of operations, becoming the first listed depository in the Asia Pacific region and surpassing 14.5 crore demat accounts as of 2025.

• Audited standalone and consolidated financial results for Q2 and H1 FY2025-26 were approved, with unmodified opinions from statutory auditors.

• Over 6.5 million new demat accounts opened in the quarter, maintaining an 80% market share and bringing total demat accounts to 16.5 crore.

Financial highlights

• Consolidated total income for Q2 FY26: INR 341 crore vs INR 359 crore in Q2 FY25.

• Consolidated net profit for Q2 FY26: INR 140 crore vs INR 162 crore in Q2 FY25.

• Standalone total income for Q2 FY26: INR 290 crore vs INR 324 crore in Q2 FY25.

• Standalone net profit for Q2 FY26: INR 128 crore vs INR 171 crore in Q2 FY25.

• Dividend income from subsidiary contributed significantly to prior quarters but not in Q2 FY26; current quarter profit is from core operations.

Segment performance

• CDSL Ventures (CVL) reported half-year income of INR 92.84 crore vs INR 144.01 crore YoY; PAT at INR 27 crore vs INR 66 crore.

• Growth in demat accounts, reaching 1,651 lakh in Q2FY26, up from 1,373 lakh in Q2FY25.

• Number of issuers increased to 44,011 in Q2FY26 from 39,609 in Q2FY25.

• Consolidated segment revenue for Q2: Depository Activity ₹27,181.29 lakh, Data Entry and Storage ₹4,656.08 lakh, Repository ₹78.03 lakh.

• Data Entry and Storage and Repository segments contribute positively, though Repository shows a minor loss.