NSDL Share Price Today: Stock Falls Post Q1 FY26 Results, 18% Below Record High
- 14th August 2025
- 11:45:00 AM
- 3 min read
Mumbai | August 14 – National Securities Depository Ltd (NSDL) shares continued to lose ground for the second straight session on Thursday, sliding nearly 3% intraday to ₹1,166 on the BSE. The fall comes just days after the company’s April–June quarter results, which triggered profit booking following an exceptional post-listing rally.
The stock, which made its market debut on August 6 at ₹880 — a 10% premium to the IPO price — surged as much as 78% in its first four sessions, hitting an all-time high of ₹1,425 on August 11. Since then, it has retreated by about 18%, reflecting a shift in sentiment as earnings data tempered the early euphoria.
First Week’s Listing Gains
NSDL opened its first trading day at ₹880, touched ₹943 intraday, and closed at ₹936. Gains accelerated over the next three sessions, with the stock crossing ₹1,300 and peaking at ₹1,425. The momentum cooled after August 12, when the company announced its Q1 FY26 financials, leading to declines on August 13 and 14.
Q1 FY26 Results and Market Reaction
For the April–June quarter, NSDL reported a net profit of ₹89.63 crore, up 15.1% from ₹77.82 crore in the same period last year. Expenses fell 14% year-on-year to ₹228 crore, aiding profitability.
However, revenue from operations declined 7.5% year-on-year to ₹312 crore, compared to ₹337 crore in Q1 FY25. Sequentially, revenue fell more than 14% from ₹364 crore in Q4 FY25, raising questions over the pace of topline growth so soon after listing.
Financial Snapshot – Q1 FY26 vs Q1 FY25
| Metric | Q1 FY26 | Q1 FY25 | Change (YoY) |
| Revenue from operations | ₹312 crore | ₹337 crore | -7.50% |
| Net profit | ₹89.63 crore | ₹77.82 crore | 15.10% |
| Total expenses | ₹228 crore | ₹265 crore | -14.00% |
Valuation and Market Context
Even after the recent decline, NSDL’s price-to-earnings ratio stands at 71.5, higher than peer Central Depository Services Ltd (CDSL) at around 66. Analysts attribute the premium to NSDL’s scale, established market presence, and technology infrastructure, but note that quarterly earnings will play a critical role in sustaining investor confidence at these valuations.
IPO Recap
The ₹4,000-crore IPO was among the most anticipated listings of 2025, drawing strong demand from institutional and retail investors. As India’s first and largest securities depository, NSDL provides dematerialisation, settlement, and corporate action services to millions of investors, making it a core part of the country’s capital market infrastructure.
Bottomline:
After delivering a 78% gain in just four days post-listing, NSDL’s share price has entered a phase of sharp correction. Market focus will now shift to upcoming quarters for evidence of sustained revenue growth to support its premium valuation.
PL Capital
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
