Central Depository Services (India) Limited (CDSL) has released the transcript of its Q3 FY'26 earnings conference call, which was held on February 2, 2026. The call featured management including Mr. Nehal Vora (MD & CEO), Mr. Girish Amesara (CFO), and other senior leaders, alongside Mr. Amit Chandra from HDFC Securities as the moderator. During the call, the management discussed various aspects of CDSL's performance and industry trends. Key highlights included CDSL's significant growth in Demat accounts, reaching 17.27 crore accounts and maintaining an 80% market share. The company also received notable global awards, including 'Central Securities Depository of the Year 2025' and 'Market Infrastructure Award'. Furthermore, CDSL's CSR efforts were recognized with the 'Project of the Year Healthcare Award'. The company also achieved a milestone of 100 million YouTube channel views, underscoring its commitment to investor education. Financially, on a consolidated basis for the first 9 months, total income was ₹970 crore, with a net profit of ₹375 crore. For the quarter ended December 2025, consolidated total revenue was ₹334 crore, and standalone net profit was ₹133 crore. On a standalone basis for the 9 months, total income was ₹881 crore and net profit was ₹399 crore. For the quarter, standalone total revenue was ₹279 crore and net profit was ₹120 crore. The management addressed questions regarding technology spending, explaining it as a necessary investment for infrastructure scaling, security, and adopting newer technologies to ensure seamless operations during potential surges in market activity. They also discussed the KRA business, emphasizing its continued relevance and potential for integration with CKYC. Discussions also covered annual issuer charges, e-voting and eCAS income, and the performance of the insurance repository business. The transcript also detailed responses to queries about unlisted company additions, IPO and corporate action segment growth, mutual fund business TER cuts, and KYC charges. The company reiterated its focus on continuous infrastructure upgrades and an investor-centric approach to maintain its value proposition and market leadership.
