NSDL's profits stay flat, but its market share is booming
NSDL just posted a solid 15% jump in income for Q3 FY26, hitting ₹198.7 crore. But here's the twist: actual profit barely budged, up only 0.5%.
Still, NSDL is quietly taking over more of India's depository scene—its market share rose to 15.89% in the first nine months of FY26 (ending December 2025), thanks to 13 lakh new accounts and a growing presence in unlisted companies.
Why should you care?
If you're watching how money and investing are changing in India, this matters.
NSDL is pulling ahead even as profits hold steady—showing it can attract users and grow fast without burning out.
With individual and HUF holdings accounting for 66.5% of market share by total demat custody value as of December 2025, it hints at where the next wave of investors might come from.
For anyone curious about the future of finance here, NSDL's moves are worth keeping an eye on.