About Central Depository Services (India) Ltd.
Central Depository Services (India) Ltd. (CDSL) is a key market infrastructure institution in India’s financial system, established in 1999 to provide centralized depository services for securities. It operates as one of the country’s two licensed depositories, alongside the National Securities Depository Limited (NSDL), and plays a crucial role in the dematerialization of securities, converting physical share certificates into electronic form, and facilitating secure, efficient settlement and transfer of securities transactions through book-entry methods.
CDSL was initially promoted by BSE Ltd. and is now a public limited company headquartered in Mumbai. It supports a wide range of market participants including stock exchanges, clearing corporations, depository participants (DPs), issuers, and investors by maintaining electronic records of securities ownership and offering value-added electronic services such as e-voting, e-access to securities information, and mobile applications for investors.
Today, it is one of India’s largest depositories in terms of the number of active demat accounts, making it an integral part of the Indian capital markets infrastructure.
Q3 FY’25-’26 Standalone Performance
During Q3 FY’25-’26, standalone total income stood at ₹279 crore, compared to ₹290 crore in Q2 FY’25-’26 and ₹235 crore in Q3 FY24-25. Net profit for the quarter was ₹120 crore, marginally lower than ₹128 crore in the preceding quarter but higher than ₹105 crore reported in the corresponding quarter of the previous year.
For the nine months ended FY’25-’26, standalone total income increased to ₹881 crore, as against ₹780 crore in the same period last year. Net profit for the nine-month period rose to ₹399 crore, compared with ₹381 crore in 9M FY24-25, reflecting improved profitability on a year-on-year basis.
Q3 FY’25-’26 Consolidated Performance
On a consolidated basis, Q3 FY’25-’26 total income was ₹334 crore, compared with ₹341 crore in Q2 FY’25-’26 and ₹298 crore in Q3 FY24-25. Net profit for the quarter was ₹133 crore, slightly lower than ₹140 crore in the previous quarter but broadly in line with ₹130 crore in Q3 FY24-25.
For the nine months ended FY’25-’26, consolidated total income stood at ₹970 crore, marginally higher than ₹944 crore recorded in the corresponding period of the previous year. Net profit for the nine-month period was ₹375 crore, compared to ₹426 crore in 9M FY24-25.
Business Highlights
CDSL became the first depository to register 17+ crore demat accounts as on December 31, 2025, extending the trajectory from 15.30 Crore accounts as of March 31, 2025. During the quarter, 76 lakh new demat accounts were opened. Employee development initiatives continue to deliver an average of 20 hours of training per employee during FY26 so far, encompassing technical skills, leadership development, and regulatory compliance, distributed between e-learning and instructor-led programs.
CDSL launched its first ever Reimagine Ideathon, an initiative under its Annual Reimagine Symposium, engaging young innovative minds to reimagine investor empowerment and market trust at scale. The Ideathon saw over 1,000 registrations, witnessing participation of students from nearly 100 institutions across 21 states and 2 union territories. Shri Keki Mistry, one of India’s most respected voices in financial services and institution-building, served as Jury Chair. CDSL Investor Protection Fund conducted over 1300 Investor Awareness Programmes (IAPs) across India during the quarter.
CDSL received international recognition as Market Infrastructure of the Year at the 8th Regulation Asia Awards for Excellence 2025, acknowledging its comprehensive and forward‑looking approach to strengthening market infrastructure. CDSL was also internationally recognized by Asset Servicing Times at the Industry Excellence Awards as CSD of the Year 2025, in recognition of the company’s strong commitment to innovation and operational integrity, setting an industry benchmark.