National Securities Depository Limited
BSE: NSDL · Depositories, Clearing Houses and Other Intermediaries
Snapshot
Unlock National Securities Depository Limited's vital signs
Growth · Profitability · Valuation · Strength · Conviction
Company Overview
Business
National Securities Depository Limited (NSDL) is a premier Indian depository providing electronic securities holding, dematerialisation, and settlement services. The company also operates diverse business segments including database management services, such as KYC registration and national skills registries, alongside various banking and payment services.
Business Model
NSDL generates revenue through transaction-based fees for depository services, subscription or service fees for database management, and interest income or transaction charges from its banking and payment operations. It leverages its market infrastructure position to provide value-added services like e-voting, pledge management, and electronic custody.
Growth Outlook
Growth is driven by the increasing digitisation of the Indian financial markets and the expansion of its database management services for government and industry registries. The company continues to enhance its service suite through digital platforms like SPEED-e and IDeAS to capture higher transaction volumes.
Key Risks
- Regulatory Risk. As a critical market infrastructure institution, NSDL is subject to stringent oversight by SEBI and the RBI, where policy changes could impact fee structures or operational mandates.
- Cybersecurity Risk. The company manages vast amounts of sensitive financial and personal data, making it a high-profile target for cyberattacks that could compromise system integrity.
- Market Volatility. Revenue from depository services is inherently linked to capital market activity, meaning lower trading volumes or market downturns can directly reduce transaction-based income.
- Technological Obsolescence. Rapid advancements in fintech and blockchain technology may necessitate continuous, costly infrastructure upgrades to maintain competitive relevance.
Start your research today
Unlock AI insights, financials, peers and live data on National Securities Depository Limited and 5,000+ companies — free.
Key Metrics
P/E
36.0×
Q2 FY27 · consolidated
EV/EBITDA
23.7x
Q2 FY27 · consolidated
NET PROFIT MARGIN
22.4%
Q2 FY27 · consolidated
DEBT TO EQUITY
0.0x
Q2 FY27 · consolidated
Peers · Depositories, Clearing Houses and Other Intermediaries
| Company | Mkt Cap | P/E (TTM) | EV/EBITDA | Rev Gr YoY | EBITDA Mgn | ROE | ROCE | 1Y Return |
|---|---|---|---|---|---|---|---|---|
National Securities Depository LimitedNSDL | ₹14,412 Cr | 36.0× | 23.73 | — | 31.8% | 17.1% | 22.7% | -37.8% |
Central Depository Services (India) Ltd.CDSL | ₹26,167 Cr | 55.5× | 37.40 | 8.8% | 59.2% | 25.3% | 32.3% | -21.1% |
Computer Age Management Services Ltd.CAMS | ₹16,527 Cr | 32.2× | 20.88 | 9.5% | 49.6% | 38.2% | 47.2% | -83.1% |
Kfin Technologies Ltd.KFINTECH | ₹14,735 Cr | 42.2× | 24.32 | 27.7% | 40.9% | 22.6% | 23.4% | -22.4% |
As of Q2 FY27
Financials
National Securities Depository Limited
BSE: NSDL · Depositories, Clearing Houses and Other Intermediaries
Snapshot
Unlock National Securities Depository Limited's vital signs
Growth · Profitability · Valuation · Strength · Conviction
Company Overview
Business
National Securities Depository Limited (NSDL) is a premier Indian depository providing electronic securities holding, dematerialisation, and settlement services. The company also operates diverse business segments including database management services, such as KYC registration and national skills registries, alongside various banking and payment services.
Business Model
NSDL generates revenue through transaction-based fees for depository services, subscription or service fees for database management, and interest income or transaction charges from its banking and payment operations. It leverages its market infrastructure position to provide value-added services like e-voting, pledge management, and electronic custody.
Growth Outlook
Growth is driven by the increasing digitisation of the Indian financial markets and the expansion of its database management services for government and industry registries. The company continues to enhance its service suite through digital platforms like SPEED-e and IDeAS to capture higher transaction volumes.
Key Risks
- Regulatory Risk. As a critical market infrastructure institution, NSDL is subject to stringent oversight by SEBI and the RBI, where policy changes could impact fee structures or operational mandates.
- Cybersecurity Risk. The company manages vast amounts of sensitive financial and personal data, making it a high-profile target for cyberattacks that could compromise system integrity.
- Market Volatility. Revenue from depository services is inherently linked to capital market activity, meaning lower trading volumes or market downturns can directly reduce transaction-based income.
- Technological Obsolescence. Rapid advancements in fintech and blockchain technology may necessitate continuous, costly infrastructure upgrades to maintain competitive relevance.
Start your research today
Unlock AI insights, financials, peers and live data on National Securities Depository Limited and 5,000+ companies — free.
Key Metrics
P/E
36.0x
Q2 FY27 · consolidated
EV/EBITDA
23.7x
Q2 FY27 · consolidated
NET PROFIT MARGIN
22.4%
Q2 FY27 · consolidated
DEBT TO EQUITY
0.0x
Q2 FY27 · consolidated
Peers · Depositories, Clearing Houses and Other Intermediaries
As of Q2 FY27