Central Depository Services (India) (CDSL) Q2 26/27 earnings summary

Executive summary

• Record IPO activity and demat-account growth supported higher quarterly earnings; technology resilience and investor education remained priorities.

• Q2 FY27 consolidated net profit was ₹173.30 crore; demat accounts, custody value, admitted issuers and ISINs reached new highs in the reported five-quarter series.

Financial highlights

• Q2 consolidated total income was ₹417.30 crore versus ₹341.37 crore YoY; net profit was ₹173.30 crore versus ₹139.93 crore.

• H1 consolidated total income was ₹757.80 crore versus ₹636.53 crore; net profit was ₹290.97 crore versus ₹242.34 crore.

• Standalone Q2 total income was ₹358.70 crore versus ₹289.90 crore YoY and net profit was ₹163.34 crore versus ₹127.50 crore; H1 total income was ₹685.21 crore versus ₹602.26 crore and net profit ₹307.79 crore versus ₹279.51 crore.

• Q2 consolidated revenue from operations was ₹394.48 crore versus ₹318.88 crore YoY; H1 revenue was ₹687.24 crore versus ₹577.70 crore.

• Consolidated H1 operating cash flow was ₹478.16 crore versus ₹376.88 crore; standalone operating cash flow was ₹453.72 crore versus ₹369.03 crore.

Outlook and guidance

• No specific revenue or earnings guidance; management declined to forecast IPO activity, while filed prospectuses pointed to potential continued momentum.

• Priorities include strengthening the core, preparing for future market needs, technology and employee investment, and investor education.