Archive · 19 Nov 2025
NSDL vs CDSL: Post-Q2 Performance and Outlook
After Q2, NSDL and CDSL, two major Indian depositories, showed different performances.
NSDL's profits rose while CDSL's fell.
Both companies announced dividends, with NSDL paying Rs 2/share and CDSL Rs 12.50/share.
Brokerage Motilal Oswal maintains a neutral stance on both, with target prices of Rs 1,270 for NSDL and Rs 1,520 for CDSL.
NSDL shares are down 1% YTD, CDSL down 11%.
NSDL's net profit rose 14.6% YoY, CDSL's fell 13.6%
NSDL announced Rs 2/share dividend, CDSL Rs 12.50/share
Motilal Oswal maintains neutral stance on both, targets Rs 1,270 for NSDL, Rs 1,520 for CDSL
NSDL shares down 1% YTD, CDSL down 11%
NSDL's 52-week range: Rs 880 - Rs 1,425, CDSL's: Rs 1,047.45 - Rs 1,989.80
- Who
- National Securities Depository (NSDL) and Central Depository Services (India) (CDSL)
- What
- Released Q2 FY26 results
- When
- Recently
- Where
- India
- Why
- To track demat account trends and financial health of the companies
- NSDL Q2 Net Profit
- Rs 110 crore, +14.6% YoY
- CDSL Q2 Net Profit
- Rs 140.21 crore, -13.6% YoY
- NSDL Dividend
- Rs 2 per share
- CDSL Dividend
- Rs 12.50 per share
- NSDL Target Price
- Rs 1,270 (Motilal Oswal)
- CDSL Target Price
- Rs 1,520 (Motilal Oswal)
- NSDL YTD Performance
- -1%
- CDSL YTD Performance
- -11%