NSDL Q4 FY26: Profit up 8%, revenue +26%, Rs 4 dividend

What NSDL reported for the March 2026 quarter

National Securities Depository Ltd (NSDL) reported an 8.17 percent rise in net profit to Rs 90.1 crore for the quarter ended March 31, 2026, according to an exchange filing dated April 30. The comparable net profit in the year-ago quarter was Rs 83.29 crore. NSDL also reported that it had posted a net profit of Rs 89.67 crore in the December quarter, indicating largely steady quarterly profitability.

The March-quarter update is important for investors because it includes both the audited results for Q4 and the board decision on shareholder payout for FY26. NSDL is a central securities depository, and its financials are often tracked alongside trends in capital market activity and issuer services, although the filing excerpt here does not detail segment-wise drivers.

Net profit up year-on-year, largely flat sequentially

On a consolidated basis, a results snapshot showed net profit for the March 2026 quarter at Rs 90.11 crore. That compares with Rs 89.61 crore in December 2025 and Rs 83.30 crore in March 2025. The same snapshot showed adjusted EPS at 4.51 for the March 2026 quarter versus 4.48 in December 2025 and 4.16 in March 2025.

While year-on-year growth was clearly positive, quarter-on-quarter change in profit was modest. That pattern matters because it suggests that the company’s earnings in Q4 FY26 were close to Q3 FY26 levels, even as revenue moved higher.

Revenue from operations rises 26% year-on-year

NSDL said revenue from operations rose 26 percent to Rs 458.25 crore in the reported quarter, up from Rs 363.66 crore in the year-ago period. For context on sequential movement, NSDL had recorded revenue of Rs 359.63 crore in the third quarter of FY26.

The reported revenue from operations number is distinct from “total revenue” in the results snapshot. That difference typically arises from other income items, but the provided text does not give a break-up. Investors generally track both measures to understand the quality and repeatability of earnings.

Total revenue and operating profit: the quarterly scorecard

A separate table for the March 2026 quarter showed total revenue for the quarter at Rs 486.80 crore, compared with Rs 394.35 crore in December 2025 and Rs 393.78 crore in March 2025. Operating profit for the quarter was shown at Rs 103.91 crore, compared with Rs 107.36 crore in December 2025 and Rs 91.19 crore in March 2025.

Taken together, the figures indicate that revenue increased materially year-on-year, while operating profit improved versus the year-ago quarter but dipped slightly compared to the immediately preceding quarter.

Board approves dividend of Rs 4 per share for FY26

NSDL said its board of directors approved a dividend of Rs 4 per share for FY26. In earlier disclosures referenced in the provided material, NSDL had declared a final dividend of Rs 2 per share in September 2025, described as its first dividend after listing.

Dividend declarations are usually watched closely for companies that have recently listed, as they signal the board’s stance on capital return. The excerpt provided does not specify a record date or payment date for the FY26 dividend.

Stock movement and valuation data cited in the update

Following the results update, NSDL’s stock closed 0.19 percent higher on the BSE at Rs 880.85 on Thursday, as stated in the text. The material also separately states that NSDL’s share price as on April 30, 2026 is Rs 895.65. Another price datapoint in the provided content said the share ended at Rs 913.25, down 0.22 percent from the previous close.

The same dataset cited a past one-week return of -3.83% and a price-to-earnings (P/E) ratio of 51.24. It also cited a current dividend yield of 0.23% and stated that an investment of Rs 1,000 in the stock is expected to generate dividend of Rs 2.27 every year.

Other corporate and regulatory developments mentioned

The provided material also referenced a board decision to dilute NSDL’s shareholding in NSDL Payments Bank (NPBL) by 4.95%. It said NPBL, described as a wholly owned subsidiary, executed a share subscription agreement and shareholders’ agreement with Protean eGov Technologies for the issuance and allotment of 93,74,014 equity shares of face value Rs 10 each. The issue price was not fully visible in the excerpt.

Separately, the text referenced a settlement agreement with SEBI for Rs 15.57 crore following non-compliances observed during an FY 2023-24 inspection. The settlement was accepted by SEBI on October 17, 2025, with NSDL stating it would not materially impact its operations or finances.

Conference call and disclosure calendar

NSDL also announced a Q4 FY26 results conference call organised by ICICI Securities for Saturday, May 2, 2026, at 11:00 AM IST. The call was described as offering universal access through Indian phone numbers and toll-free options for select international participants.

In the build-up to results, NSDL had stated that its board meeting was scheduled for April 30, 2026, to consider and approve audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, and to consider recommending a final dividend, subject to shareholder approval at the 14th AGM.

Key numbers at a glance

Market impact and what investors may track next

The immediate market reaction in the provided text was modest, with one data point showing the stock closing 0.19 percent higher at Rs 880.85 on the BSE. With revenue from operations rising year-on-year to Rs 458.25 crore and net profit at about Rs 90 crore, investors are likely to focus on how consistently this pace of operating revenue can be maintained across quarters, especially because the excerpt also shows sequential stability in profit.

Near-term attention is also likely to remain on shareholder payout execution and any further details shared in investor communication, including the scheduled May 2 conference call. Any additional disclosures on subsidiary performance, including the payments bank transaction referenced, may also be tracked for their financial implications once full terms are disclosed.