CDSL Q3 Results: Profit Rises 14%, Revenue Growth Stays Steady

Market Performance

Central Depository Services (India) Ltd. (CDSL) stayed largely in sync with the broader market after announcing its CDSL Q3 Results.

On Friday, the stock closed 0.26% lower at Rs 1,320.20 on the NSE, while the Nifty index slipped 0.39% during the same session.

The muted price move suggested that most of the Q3 performance was already factored in, keeping investor reaction measured rather than emotional.

Main News: CDSL Q3 Results Snapshot

The CDSL Q3 Results for Q3FY26 showed steady growth across key financial metrics on a year-on-year basis. Profit growth remained healthy, while revenue posted a solid rise. Margins, however, saw some contraction.

Standalone Performance Highlights (YoY)

• Net Profit:
  • Rose 14.3% to Rs 120 crore
  • Compared with Rs 105 crore in Q3FY25
• Revenue:
  • Increased 15.2% to Rs 254 crore
  • Versus Rs 221 crore last year
• EBITDA:
  • Grew 9.7% to Rs 144 crore
  • Against Rs 131 crore earlier
• EBITDA Margin:
  • Stood at 56.53%
  • Compared with 59.35% a year ago

The numbers show that while earnings expanded at a healthy pace, margins narrowed slightly as operating costs grew faster than profitability.

Q3FY26 Standalone Financial Breakdown

To keep the financial picture clean and easy to read, here’s a quick summary of the standalone performance:

• Revenue: Up 15.12% to Rs 452 crore from Rs 221 crore
• EBITDA: Increased 9.7% to Rs 144 crore from Rs 131 crore
• EBITDA Margin: Contracted to 56.53% from 59.35%
• Net Profit: Up 14.3% to Rs 120 crore from Rs 105 crore

Revenue growth outpaced EBITDA growth, which explains the margin compression during the quarter.

Consolidated Q3FY26 Results

On a consolidated basis, CDSL Q3 Results showed slower growth compared to standalone performance, especially on profitability.

Consolidated Performance (YoY)

• Revenue:
  • Rose 9.4% to Rs 304.35 crore
  • Compared with Rs 278.12 crore
• Net Profit:
  • Increased 2% to Rs 133.32 crore
  • Versus Rs 130.10 crore
• EBITDA:
  • Edged up 0.2% to Rs 161.02 crore
  • From Rs 160.64 crore
• EBITDA Margin:
  • Declined to 52.9%
  • From 57.8% last year

The marginal EBITDA growth combined with a sharper margin decline points to tighter cost dynamics at the consolidated level.

Company Details

Central Depository Services (India) Ltd. plays a critical role in India’s capital market infrastructure. Its business is closely linked to market participation, account activity, and transactional volumes.

During Q3FY26, the company continued to benefit from scale and operational reach, even as margin pressures surfaced across parts of the business.

Summary: What the CDSL Q3 Results Tell Us?

The CDSL Q3 Results paint a clear picture:

• Profit growth remained strong in double digits on a standalone basis
• Revenue maintained strong momentum, posting growth of over 15% during the quarter.
• EBITDA growth lagged revenue, leading to margin contraction
• Consolidated numbers showed slower profitability growth compared to standalone results
• Share price movement stayed largely aligned with the broader market

Overall, Q3FY26 was a quarter of steady expansion for CDSL, supported by higher revenue and profit, while operating margins softened slightly. The numbers reflect stability rather than surprise—keeping the stock’s response calm and measured.

Source: NDTV Profit