CDSL adds 75 lakh accounts as base reaches 19.34 crore

CDSL added 75 lakh net Beneficial Owner, or BO, accounts in Q2FY27, taking its BO account base to 19.34 crore from 18.59 crore in Q1FY27. The addition was 17 lakh higher than the preceding quarter’s 58 lakh, while demat custody reached Rs 89 lakh crore and issuer and ISIN counts reached five-quarter highs.

How many BO accounts did CDSL add in Q2FY27?

CDSL added 75 lakh net BO accounts in Q2FY27, lifting its closing BO account base to 19.34 crore. The company had reported 58 lakh net accounts opened in Q1FY27 and a closing base of 18.59 crore, making the Q2FY27 increase of 75 lakh consistent with the reported quarter-end account total.

The 75 lakh addition was the second-highest quarterly figure in the five periods disclosed. CDSL reported 65 lakh net accounts opened in Q2FY26, 76 lakh in Q3FY26, 74 lakh in Q4FY26, 58 lakh in Q1FY27 and 75 lakh in Q2FY27. Q2FY27 was therefore 1 lakh below the five-quarter high of 76 lakh in Q3FY26.

CDSL’s BO account base rose by 2.83 crore between Q2FY26 and Q2FY27. It stood at 16.51 crore in Q2FY26, increased to 17.27 crore in Q3FY26 and 18.01 crore in Q4FY26, then reached 18.59 crore in Q1FY27 and 19.34 crore in Q2FY27. Each reported quarter-end figure was higher than the preceding one.

Did CDSL account additions accelerate from Q1FY27?

Yes, CDSL’s net BO account additions rose by 17 lakh to 75 lakh in Q2FY27 from 58 lakh in Q1FY27. The increase followed declines in quarterly additions from 76 lakh in Q3FY26 to 74 lakh in Q4FY26 and then 58 lakh in Q1FY27, reversing the most recent quarterly movement.

The Q2FY27 addition was also 10 lakh above the 65 lakh reported in Q2FY26. Over the same comparison, CDSL’s closing BO base increased from 16.51 crore to 19.34 crore. The presentation provides the account data but does not state a reason for the change in quarterly net additions.

The two account measures describe different points in the same series. Net accounts opened, reported at 75 lakh for Q2FY27, are the quarterly flow, while the 19.34 crore BO account figure is the closing total. CDSL also uses BO in its service descriptions for account users, including its single sign-on and eNOMINATION facilities.

How did CDSL’s demat custody change in Q2FY27?

CDSL reported demat custody of Rs 89 lakh crore in Q2FY27, up from Rs 88 lakh crore in Q1FY27 and Rs 80 lakh crore in Q2FY26. Custody increased by Rs 1 lakh crore sequentially and by Rs 9 lakh crore from Q2FY26 to Q2FY27.

The reported custody series did not rise in every quarter. It was Rs 80 lakh crore in Q2FY26, Rs 85 lakh crore in Q3FY26, and Rs 77 lakh crore in Q4FY26 before increasing to Rs 88 lakh crore in Q1FY27 and Rs 89 lakh crore in Q2FY27. The Q2FY27 figure exceeded the previous five-quarter high of Rs 88 lakh crore.

CDSL separately reports custody and BO accounts, which measure different parts of its disclosed operating scale. In Q2FY27, the company recorded Rs 89 lakh crore of custody alongside 19.34 crore BO accounts and 75 lakh net accounts opened. The presentation does not provide activity levels, transaction volumes or a link between the change in custody and account additions.

How many issuers and ISINs did CDSL report?

CDSL reported 51,132 issuers and 1,39,495 ISINs in Q2FY27, both the highest figures in the five-quarter series. The issuer count was 49,684 in Q1FY27, while the ISIN count was 1,33,364, producing sequential increases of 1,448 issuers and 6,131 ISINs.

Issuer numbers rose in each period shown, from 44,011 in Q2FY26 to 46,271 in Q3FY26, 48,103 in Q4FY26, 49,684 in Q1FY27 and 51,132 in Q2FY27. This represented an increase of 7,121 issuers between Q2FY26 and Q2FY27.

ISINs also increased in every displayed period, rising from 1,13,909 in Q2FY26 to 1,20,277 in Q3FY26 and 1,26,779 in Q4FY26. The count then reached 1,33,364 in Q1FY27 and 1,39,495 in Q2FY27, an increase of 25,586 over the year.

Which services does CDSL list for BO account users?

CDSL lists services covering account access, transactions, nominations and portfolio visibility for BO account users. Its single sign-on service enables BOs to cast e-votes through Depository Participant websites, EASIEST enables BOs to submit debit transactions, and eNOMINATION enables online nomination details for demat accounts.

CDSL also lists eMargin Pledge, an application programming interface, or API, through which Depository Participants can establish online margin pledge or margin funding arrangements. Its eDIS service enables electronic debit requests through an API. The presentation does not disclose Q2FY27 transaction volumes, adoption rates or revenue for either service.

The Investor App is described as enabling BOs to monitor open and margin positions across exchanges and clearing corporations and view securities across both depositories. CDSL also cites DigiLocker integration and LAS Services, under which eligible securities held in CDSL demat accounts can be digitally pledged for loans from participating banks and non-banking financial companies. It does not attribute the 75 lakh Q2FY27 additions to these services.

Conclusion

CDSL’s Q2FY27 operating data show a faster quarterly account-addition pace alongside larger reported custody and securities infrastructure. Net BO account additions increased to 75 lakh from 58 lakh in Q1FY27, the closing BO base reached 19.34 crore, custody reached Rs 89 lakh crore, and the company reported 51,132 issuers and 1,39,495 ISINs.

The disclosed development to watch is Demat 2.0, which CDSL says is being implemented as part of the Securities and Exchange Board of India and Reserve Bank of India pilot for tokenisation of corporate bonds using distributed ledger technology and wholesale central bank digital currency. The presentation gives no implementation date, adoption target or Q2FY27 operating metric for that initiative.