CDSL Q2FY27 standalone profit reaches ₹163 crore on IPO fees

CDSL reported standalone net profit of ₹163 crore in Q2FY27, the highest among the five displayed quarters, as IPO and corporate-action income reached ₹102 crore, up from ₹27 crore in Q1FY27. Total standalone income rose to ₹359 crore, while total expenses increased to ₹196 crore.

Why did CDSL's Q2FY27 standalone profit rise?

CDSL's standalone profit rose to ₹163 crore in Q2FY27 from ₹144 crore in Q1FY27, alongside a ₹75 crore sequential increase in initial public offering (IPO) and corporate-action income to ₹102 crore. This income line had fallen to ₹17 crore in Q4FY26 before recovering to ₹27 crore in Q1FY27 and then rising in Q2FY27.

Standalone total income increased by ₹32 crore, to ₹359 crore from ₹327 crore, while total expenses increased by ₹13 crore, to ₹196 crore from ₹183 crore. The change in IPO and corporate-action income was larger than movements in the recurring annual issuer income and transaction-charge lines during the quarter.

The Q2FY27 result also exceeded the ₹128 crore standalone profit reported in Q2FY26, although total income then was ₹290 crore. In the five-quarter series, profit had declined to ₹69 crore in Q4FY26 before rising to ₹144 crore in Q1FY27 and ₹163 crore in Q2FY27.

How did CDSL's standalone income mix change?

CDSL's income mix changed principally through IPO and corporate-action income, which rose to ₹102 crore in Q2FY27 from ₹27 crore in Q1FY27. Annual issuer income rose by ₹1 crore sequentially to ₹129 crore, while transaction charges rose by ₹2 crore to ₹68 crore, making both changes smaller than the IPO and corporate-action movement.

The five-quarter comparison shows that total income reached ₹359 crore in Q2FY27, its highest level in the displayed standalone period. Annual issuer income moved from ₹115 crore in Q2FY26 to ₹129 crore in Q2FY27, and transaction charges rose from ₹59 crore to ₹68 crore over the same comparison.

CDSL's investment income declined to ₹18 crore in Q2FY27 from ₹36 crore in Q1FY27, while other income increased to ₹42 crore from ₹30 crore. The Q1FY27 table included ₹40 crore of dividend income, and CDSL said it had received a ₹39.50 crore dividend from a subsidiary in that quarter.

Which standalone costs changed in Q2FY27?

CDSL's standalone expenses rose to ₹196 crore in Q2FY27 from ₹183 crore in Q1FY27. Tax increased by ₹8 crore to ₹53 crore, Securities and Exchange Board of India and Investor Protection Fund (SEBI/IPF) charges rose by ₹5 crore to ₹20 crore, and information-technology cost increased by ₹2 crore to ₹39 crore.

Employee cost fell to ₹38 crore in Q2FY27 from ₹41 crore in Q1FY27, partly offsetting higher tax and regulatory charges. Other administrative expenses were ₹46 crore, compared with ₹45 crore in Q1FY27, while the total expense increase was ₹13 crore sequentially.

Compared with Q2FY26, total standalone expenses were ₹33 crore higher in Q2FY27. Tax increased from ₹38 crore to ₹53 crore, information-technology cost rose from ₹29 crore to ₹39 crore, and SEBI/IPF charges moved from ₹16 crore to ₹20 crore, while employee cost rose from ₹35 crore to ₹38 crore.

How does CDSL's Q2FY27 profit compare with recent quarters?

CDSL's Q2FY27 standalone net profit of ₹163 crore was ₹19 crore above Q1FY27 profit of ₹144 crore and ₹35 crore above Q2FY26 profit of ₹128 crore. It was also above ₹120 crore in Q3FY26 and ₹69 crore in Q4FY26, making it the highest figure in the five-quarter presentation.

The Q1FY27 comparison includes dividend income that was absent from the Q2FY27 income table. CDSL reported Q1FY27 net profit excluding dividend of ₹104 crore, compared with reported Q1FY27 profit of ₹144 crore, after disclosing receipt of a ₹39.50 crore subsidiary dividend.

The movement from Q4FY26 to Q2FY27 involved increases across several income lines. Total income rose from ₹215 crore to ₹359 crore, annual issuer income increased from ₹114 crore to ₹129 crore, transaction charges rose from ₹59 crore to ₹68 crore, and IPO and corporate-action income increased from ₹17 crore to ₹102 crore.

What was CDSL's consolidated Q2FY27 performance?

CDSL reported consolidated net profit of ₹173 crore in Q2FY27, compared with ₹118 crore in Q1FY27 and ₹140 crore in Q2FY26. Consolidated total income was ₹417 crore in Q2FY27, up from ₹341 crore in both Q1FY27 and Q2FY26.

Consolidated expenses increased to ₹244 crore in Q2FY27 from ₹223 crore in Q1FY27 and ₹201 crore in Q2FY26. Employee cost was ₹46 crore, information-technology cost was ₹52 crore, tax was ₹57 crore and other administrative expenses were ₹69 crore in Q2FY27.

Online data charges, shown in the consolidated income statement but not the standalone statement, increased to ₹54 crore in Q2FY27 from ₹45 crore in Q1FY27. Consolidated IPO and corporate-action income was ₹102 crore, annual issuer income was ₹129 crore and transaction charges were ₹68 crore, matching the corresponding Q2FY27 standalone income lines.

Conclusion

CDSL's Q2FY27 standalone result combined a rise in total income to ₹359 crore with a smaller increase in expenses to ₹196 crore, producing net profit of ₹163 crore. The largest sequential income movement was the increase in IPO and corporate-action income from ₹27 crore to ₹102 crore, while annual issuer income and transaction charges reached ₹129 crore and ₹68 crore respectively.

The presentation does not disclose a forward target, operational plan or scheduled financial event. The next reported comparison will indicate whether IPO and corporate-action income remains near ₹102 crore after the ₹17 crore recorded in Q4FY26 and ₹27 crore in Q1FY27, and how recurring issuer and transaction income develop alongside costs.