N S D L

  • Market Cap: Large Cap
  • Industry: Capital Markets
  • ISIN: INE301O01023
  • NSEID:
  • BSEID: 544467
INR
928.80
40.55 (4.57%)
BSENSE

Jun 18

BSE+NSE Vol: 1683811

  • Price Points
  • Score
  • Mojo Parameters
  • Total Return
  • News and Corporate Actions
  • Key factors
  • Shareholding
  • Financials
  • CompanyCV
stock-summaryPrice Point
High/Low

1Day

888.00942.00

52 Week

880.001,425.00
Valuation
Technical
Day's Volume

CASH

16.84 lacs (551.48%) Volume

Shareholding (Mar 2026)

FII

14.40%

Held by 53 FIIs

DII

37.63%

Held by 25 DIIs

Promoter

0.00%

Is N S D L overvalued or undervalued?

01-Sep-2025

As of August 29, 2025, N S D L is considered very expensive and overvalued with a PE ratio of 72.17, significantly higher than its peers, and has underperformed the market with a 2.92% decline compared to the Sensex's 1.84% drop.

As of 29 August 2025, the valuation grade for N S D L has moved from does not qualify to very expensive, indicating a significant shift in its perceived value. The company is currently overvalued, with a PE ratio of 72.17, an EV to EBITDA of 63.13, and an EV to Sales ratio of 16.69. These ratios are substantially higher than those of its peers, such as Bajaj Finance with a PE of 31.3 and Bajaj Finserv at 32.09, both of which are also categorized as expensive but remain significantly lower than N S D L.<BR><BR>In comparison to the broader market, N S D L's recent performance shows a decline of 2.92% over the past week, while the Sensex has only decreased by 1.84%. This underperformance, coupled with high valuation ratios, reinforces the conclusion that N S D L is overvalued in the current market environment.

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How has been the historical performance of N S D L?

13-Nov-2025

N S D L has shown significant growth from Mar'22 to Mar'25, with net sales increasing from 761.11 Cr to 1,420.15 Cr, and profit after tax rising from 214.00 Cr to 340.72 Cr, alongside substantial improvements in total assets and cash flow. Overall, the company has demonstrated robust financial performance across key metrics.

Answer:<BR>The historical performance of N S D L shows significant growth in key financial metrics over the past few years.<BR><BR>Breakdown:<BR>N S D L's net sales have increased from 761.11 Cr in Mar'22 to 1,420.15 Cr in Mar'25, indicating a strong upward trend. Total operating income has mirrored this growth, rising from 761.11 Cr in Mar'22 to 1,420.15 Cr in Mar'25. The company's total expenditure, excluding depreciation, also grew from 520.58 Cr in Mar'22 to 1,044.64 Cr in Mar'25, while operating profit (PBDIT) improved from 300.71 Cr in Mar'22 to 490.55 Cr in Mar'25. Profit before tax has seen a similar increase, moving from 279.61 Cr in Mar'22 to 451.04 Cr in Mar'25, and profit after tax rose from 214.00 Cr to 340.72 Cr in the same period. The consolidated net profit reached 343.12 Cr in Mar'25, up from 212.59 Cr in Mar'22. The company's total assets have expanded significantly from 1,686.03 Cr in Mar'22 to 2,980.77 Cr in Mar'25, while total liabilities increased from 1,686.03 Cr to 2,980.77 Cr. Cash flow from operating activities improved from 147.00 Cr in Mar'22 to 557.00 Cr in Mar'25, contributing to a closing cash and cash equivalent of 145.00 Cr in Mar'25, up from 144.00 Cr in Mar'22. Overall, N S D L has demonstrated robust growth across its financial metrics over the past few years.

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Which are the latest news on N S D L?

03-Dec-2025
How has been the historical performance of N S D L?

Why is N S D L falling/rising?

04-Dec-2025

As of 03-Dec, the stock price of National Securities Depository Ltd (NSDL) is declining, currently at 1,079.50, reflecting a 0.96% drop. This trend is supported by decreased investor participation and the stock trading below its moving averages, indicating a bearish outlook.

As of 03-Dec, the stock price of National Securities Depository Ltd (NSDL) is falling, currently at 1,079.50, which reflects a decrease of 10.5 points or 0.96%. This decline is part of a broader trend, as the stock has been losing value for the past five days, resulting in a total drop of 4.65% over that period. <BR><BR>Additionally, NSDL is trading below its moving averages across various time frames, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages, indicating a bearish trend. Investor participation has also decreased, with the delivery volume on December 2 falling by 0.88% compared to the 5-day average. This decline in trading activity suggests a lack of confidence among investors, contributing to the stock's downward movement. Overall, these factors collectively explain the current fall in NSDL's stock price.

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iScoreScore
Click here to find our call on this stock
Strong Sell
Sell
Hold
Buy
Strong Buy
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Unrated Stock - No Analysis Available
stock-summaryMojo Parameters
Mojo Parameters
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Stock DNA
stock-summary
Industry

Capital Markets

stock-summary
Market cap

INR 17,855 Cr (Large Cap)

stock-summary
P/E

47.00

stock-summary
Industry P/E

21

stock-summary
Dividend Yield

0.23%

stock-summary
Debt Equity

0.01

stock-summary
Return on Equity

15.84%

stock-summary
Price to Book

7.50

Revenue and Profits:
Net Sales:
458 Cr
(Quarterly Results - Mar 2026)
Net Profit:
90 Cr
stock-summaryTotal Returns
Total Returns (Price + Dividend) stock-summary
Dividend Yield (0.23%)
TimePeriod
Price Return
Dividend Return
Total Return
3 Months
3.68%
0%
3.68%
6 Months
-11.37%
0%
-11.37%
1 Year
0%
0%
0.0%
2 Years
0%
0%
0.0%
3 Years
0%
0%
0.0%
4 Years
0%
0%
0.0%
5 Years
0%
0%
0.0%

Latest dividend: 2 per share ex-dividend date: Sep-19-2025

Risk Adjusted Returns v/s stock-summary
Returns Beta
Icon
Beta has not been calculated since enough price history is not available
stock-summaryNews & Corporate Actions
News
National Securities Depository Ltd is Rated Sell

National Securities Depository Ltd is Rated Sell

National Securities Depository Ltd is rated 'Sell' by MarketsMOJO. This rating was last updated on 28 Jan 2026, reflecting a reassessment of the stock’s outlook. However, all fundamentals, returns, and financial metrics discussed below are current as of 19 May 2026, providing investors with the latest view on the company’s position.

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National Securities Depository Ltd is Rated Sell

National Securities Depository Ltd is Rated Sell

National Securities Depository Ltd is rated 'Sell' by MarketsMOJO, with this rating last updated on 28 Jan 2026. However, the analysis and financial metrics discussed here reflect the stock's current position as of 08 May 2026, providing investors with an up-to-date view of its fundamentals, valuation, financial trends, and technical outlook.

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National Securities Depository Ltd Valuation Shifts Signal Elevated Risk Amid Market Underperformance

National Securities Depository Ltd Valuation Shifts Signal Elevated Risk Amid Market Underperformance

National Securities Depository Ltd (NSDL), a key player in India’s capital markets infrastructure, has seen its valuation parameters deteriorate sharply, prompting a downgrade in its investment grade to ‘Sell’. With a price-to-earnings (P/E) ratio soaring to 45.55 and a price-to-book value (P/BV) of 7.30, the stock now trades in the ‘risky’ valuation category, reflecting heightened investor caution amid subdued returns and sector headwinds.

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Announcements stock-summary

Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation

16-Jun-2026 | Source : BSE

Intimation regarding Analyst/Investor Meeting scheduled for June 22 2026 to June 25 2026 under Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations 2015

Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation

03-Jun-2026 | Source : BSE

Intimation regarding Analyst/Investor Meeting scheduled for June 08 2026 to June 11 2026 under Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations 2015.

Compliances-Reg.24(A)-Annual Secretarial Compliance

30-May-2026 | Source : BSE

Annual Secretarial Compliance Report for year ended March 31 2026.

Corporate Actions stock-summary
stock-summary
BOARD MEETING

No Upcoming Board Meetings

stock-summary
DIVIDEND

National Securities Depository Ltd has declared 100% dividend, ex-date: 19 Sep 25

stock-summary
SPLITS

No Splits history available

stock-summary
BONUS

No Bonus history available

stock-summary
RIGHTS

No Rights history available

stock-summaryKey Factors
Quality key factors stock-summary
Factor
Value
Sales Growth (5y)
23.10%
EBIT Growth (5y)
17.33%
Net Debt to Equity (avg)
0
Institutional Holding
52.04%
ROE (avg)
16.86%
Valuation key factors
Factor
Value
P/E Ratio
47
Industry P/E
21
Price to Book Value
7.50
EV to EBIT
-335.89
EV to EBITDA
EV to Capital Employed
21.78
EV to Sales
10.55
PEG Ratio
NA
Dividend Yield
0.23%
ROCE (Latest)
-6.48%
ROE (Latest)
16.02%
Technicals key factors
Indicator
Weekly
Monthly
MACD
Mildly Bullish
RSI
No Signal
Bollinger Bands
Sideways
Moving Averages
Mildly Bearish (Daily)
KST
Bearish
Dow Theory
Mildly Bullish
Mildly Bearish
OBV
Mildly Bullish
Mildly Bearish
stock-summary Technical Indicator Scale: Bearish, Mildly Bearish, Sideways, Mildly Bullish, Bullish  Turned 
stock-summaryShareholding
Shareholding Snapshot : Mar 2026stock-summary
Shareholding Compare (%holding) stock-summary
Majority shareholders

Non Institution

Pledged Promoter Holdings

None

Mutual Funds

Held by 4 Schemes (0.19%)

FIIs

Held by 53 FIIs (14.4%)

Promoter with highest holding

None

Highest Public shareholder

National Stock Exchange Of India Limited (15%)

Individual Investors Holdings

28.03%

stock-summaryFinancial
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Quarterly Results Snapshot (Standalone) - Mar'26 - QoQstock-summary
Mar'26
Dec'25
Change(%)
Net Sales
170.61
168.99
0.96%
Operating Profit (PBDIT) excl Other Income
87.00
90.48
-3.85%
Interest
0.04
0.04
Exceptional Items
0.00
0.00
Standalone Net Profit
79.68
77.88
2.31%
Operating Profit Margin (Excl OI)
50.99%
53.54%
-2.55%
Values in Rs Cr.
stock-summary Compare with Peers
Direction Arrows
Net Sales

QoQ Growth in quarter ended Mar 2026 is 0.96% vs -17.23% in Dec 2025

Direction Arrows
Standalone Net Profit

QoQ Growth in quarter ended Mar 2026 is 2.31% vs -35.32% in Dec 2025

All Quarterly Resultsstock-summary
Half Yearly Results Snapshot (Standalone) - Sep'25stock-summary
Sep'25
Sep'24
Change(%)
Net Sales
365.12
303.80
20.18%
Operating Profit (PBDIT) excl Other Income
200.05
166.86
19.89%
Interest
0.05
0.04
25.00%
Exceptional Items
0.00
0.00
Standalone Net Profit
203.04
168.38
20.58%
Operating Profit Margin (Excl OI)
54.79%
54.92%
-0.13%
Values in Rs Cr.
stock-summary Compare with Peers
Net Sales

Not Applicable: The company has declared_date for only one period

Standalone Net Profit

Not Applicable: The company has declared_date for only one period

All Half Yearly Resultsstock-summary
Nine Monthly Results Snapshot (Standalone) - Dec'25stock-summary
Dec'25
Dec'24
Change(%)
Net Sales
534.11
452.09
18.14%
Operating Profit (PBDIT) excl Other Income
290.53
247.68
17.30%
Interest
0.09
0.06
50.00%
Exceptional Items
0.00
0.00
Standalone Net Profit
280.92
245.86
14.26%
Operating Profit Margin (Excl OI)
54.40%
54.79%
-0.39%
Values in Rs Cr.
stock-summary Compare with Peers
Net Sales

Not Applicable: The company has declared_date for only one period

Standalone Net Profit

Not Applicable: The company has declared_date for only one period

All Nine Monthly Resultsstock-summary
Annual Results Snapshot (Consolidated) - Mar'26stock-summary
Mar'26
Mar'25
Change(%)
Net Sales
1,529.96
1,420.21
7.73%
Operating Profit (PBDIT) excl Other Income
434.40
375.49
15.69%
Interest
6.70
4.02
66.67%
Exceptional Items
0.00
0.00
Consolidate Net Profit
379.74
343.12
10.67%
Operating Profit Margin (Excl OI)
28.39%
26.44%
1.95%
Values in Rs Cr.
stock-summary Compare with Peers
Direction Arrows
Net Sales

YoY Growth in year ended Mar 2026 is 7.73% vs 11.98% in Mar 2025

Direction Arrows
Consolidated Net Profit

YoY Growth in year ended Mar 2026 is 10.67% vs 24.57% in Mar 2025

All Annual Resultsstock-summary
stock-summaryCompany CV
About National Securities Depository Ltd stock-summary
stock-summary
National Securities Depository Ltd
Large Cap
Capital Markets
National Security Depository Limited was incorporated on April 27, 2012, as "NSDL Depository Limited" in Mumbai as a Public Limited Company, pursuant to a Certificate of Incorporation. The Company is a SEBI registered market infrastructure institution (MII) offering a wide range of products and services to the financial and securities markets in India. The Company commenced operations through a Certificate of Commencement of Business dated May 16, 2012, issued by the RoC.
Company Coordinates stock-summary
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No Company Details Available
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Name: MOJO Markets Private Limited (Research Entity) (SEBI Registration No. INH000021942) (CIN:U74900MH2015PTC264951)

Registered & Correspondence Address: Benefice Business House, Office No. 3B, 3rd Floor, C.S. 242, Mathuradas Mills Estate, N.M. Joshi Marg, Tulsi Pipe Road, Lower Parel West, Mumbai- 400013

For queries or grievances, please contact us on support.ra@mojomarkets.in, Phone : 022-35121239

"Investments in securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors."