NSDL Shares Drop 5% After Q1 Revenue Falls 7.5% To Rs 312 crore

Shares of National Securities Depository Limited (NSDL) fell nearly 5% on August 13, following the release of its Q1 FY26 results after market hours on August 12. This marks the stock’s steepest single-day decline since its market debut. NSDL reported a net profit of ₹89.63 crore for the quarter, reflecting over 15% growth from ₹77.82 crore in Q1 FY25. While profits rose, expenses dropped over 14% year-on-year to ₹228 crore. However, operational revenue declined 7.5% year-on-year to ₹312 crore, down from ₹337 crore a year earlier, and fell over 14% sequentially from ₹364 crore in Q4 FY25. Earnings per share improved to ₹4.48.

NSDL shares, which debuted on August 6 at ₹880 (a 10% premium to IPO price), had surged up to 78% from their IPO level, hitting an all-time high in just four sessions. Despite strong fundamentals and market leadership, analysts suggest booking short-term gains as valuations appear stretched. NSDL’s P/E stands at 78, compared to CDSL’s 65. Experts warn of near-term volatility but maintain a positive long-term outlook, advising investors to buy on dips or shift partially to CDSL.