Unaudited Financial Results for the Quarter and Nine Months ended December 31, 2025

Revenue declinedContingent liabilities increasedResults View source PDF Explain this filing

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Price reactionminutes from the announcement price · days from the prior close

-3.1%Reaction day

₹1011.00

prior close

₹980.00

announcement price

After-mkt

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Nifty Microcap 250market · in no size index; the smallest one is used-0.4%-2.7% vs market

Capital Markets peers, median of 62sector · industry level-0.6%-2.5% vs sector

On the reaction day the stock moved 2.7 pts less than Nifty Microcap 250 and 2.5 pts less than its Capital Markets peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

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Reaction day

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Next day

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-13.0+9.9-22.9-0.2-12.7

UpDownMarket · Nifty Microcap 250Sector · Capital Markets peers, median of 62Pending

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AI summary

NSDL reported Q3 FY26 standalone revenue from operations of Rs. 16,898.88 lakhs, up about 14% YoY from Rs. 14,828.55 lakhs but down roughly 17% sequentially from Rs. 20,416.06 lakhs in Q2. Standalone net profit for the quarter was Rs. 7,788.08 lakhs, nearly flat YoY (Rs. 7,747.71 lakhs) but lower than Q2's Rs. 12,041.11 lakhs. For nine months, standalone revenue grew about 18% YoY to Rs. 53,410.73 lakhs and PAT rose about 14% to Rs. 28,092 lakhs, translating to EPS of Rs. 14.05. On a consolidated basis, including subsidiaries NSDL Database Management, NSDL Payments Bank, and the bullion associate, nine-month revenue was Rs. 1,07,170 lakhs and PAT was Rs. 28,969 lakhs (EPS Rs. 14.48). NSDL Payments Bank raised fresh equity from a non-promoter, diluting the parent stake from 100% to 95.05%, and IRDAI has directed NDML to spin off its Insurance Repository into a separate subsidiary. The Karvy-linked SAT matter before the Supreme Court remains pending and is disclosed as a contingent liability, with no provision made.

Likely market impact

Sequential slowdown in Q3 revenue and profit may worry short-term traders, but nine-month earnings still show healthy double-digit growth on a consolidated basis. The Karvy matter is a long-pending overhang with uncertain outcome, while the IRDAI spin-off and Payments Bank dilution are structural but not material to near-term earnings.