Central Depository Services (India) (CDSL) Q3 25/26 earnings summary

Executive summary

• Achieved consolidated total income of INR 970 crore for the nine months ended December 2025, up from INR 944 crore year-over-year.

• Consolidated net profit for the nine months was INR 375 crore, down from INR 426 crore year-over-year.

• Quarterly consolidated revenue reached INR 334 crore, up from INR 298 crore year-over-year.

• Audited standalone and consolidated financial results for Q3 and nine months ended December 31, 2025, were approved, with unmodified opinions from statutory auditors.

• Celebrated 25 years of operations, maintaining leadership in digital market infrastructure and launching a new investor app.

Financial highlights

• Standalone total income for nine months was INR 881 crore, up from INR 780 crore year-over-year.

• Standalone net profit for nine months was INR 399 crore, up from INR 381 crore year-over-year.

• Standalone Q3 revenue from operations was ₹25,439.89 lakh, with total income at ₹27,870.96 lakh; net profit after tax was ₹11,994.77 lakh.

• Consolidated Q3 revenue from operations was ₹30,435.50 lakh, with total income at ₹33,360.32 lakh; net profit after tax was ₹13,294.81 lakh.

• Dividend income from a subsidiary contributed ₹6,200 lakh to other income for the nine months ended December 31, 2025.

Segment performance

• Depository Activity remains the largest contributor to revenue and profit in consolidated results.

• Insurance repository revenue remained steady, with efforts to increase market share despite stagnant industry growth.

• KRA business remains robust, with regulatory changes expected to support its relevance.

• E-voting income for the quarter was INR 5.23 crore, up from INR 4.71 crore year-over-year.

• Growth in demat custody value and number of issuers, with 1,727 issuers and ₹1,20,277 lakh crore in demat custody as of Q3FY26.