Price
Financials
Consolidated, Rs crore| Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Sales | 337 | 357 | 363 | 364 | 312 | 400 | 360 | 458 | 517 |
| Expenses | 257 | 244 | 272 | 272 | 217 | 273 | 254 | 356 | 416 |
| Operating Profit | 80 | 113 | 91 | 91 | 95 | 127 | 106 | 103 | 101 |
| OPM % | 24% | 32% | 25% | 25% | 30% | 32% | 29% | 22% | 20% |
| Other Income | 28 | 29 | 29 | 31 | 35 | 32 | 35 | 29 | 44 |
| Interest | 1 | 1 | 1 | 1 | 2 | 1 | 2 | 2 | 2 |
| Depreciation | 8 | 8 | 9 | 10 | 10 | 11 | 13 | 14 | 14 |
| Profit before tax | 100 | 133 | 110 | 111 | 118 | 146 | 125 | 116 | 129 |
| Tax % | 22% | 28% | 22% | 25% | 24% | 24% | 29% | 22% | 24% |
| Net Profit | 78 | 96 | 86 | 83 | 90 | 110 | 90 | 90 | 98 |
| EPS in Rs | 3.89 | 4.81 | 4.29 | 4.16 | 4.48 | 5.52 | 4.48 | 4.51 | 4.91 |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|
| Sales | 326 | 466 | 761 | 1,022 | 1,268 | 1,420 | 1,530 | 1,735 |
| Expenses | 203 | 259 | 522 | 771 | 985 | 1,045 | 1,100 | 1,298 |
| Operating Profit | 123 | 207 | 239 | 251 | 284 | 376 | 430 | 436 |
| OPM % | 38% | 44% | 31% | 25% | 22% | 26% | 28% | 25% |
| Other Income | 53 | 58 | 60 | 77 | 97 | 117 | 130 | 140 |
| Interest | 1 | 1 | 2 | 2 | 2 | 4 | 7 | 7 |
| Depreciation | 13 | 17 | 19 | 22 | 24 | 35 | 48 | 53 |
| Profit before tax | 162 | 247 | 278 | 305 | 355 | 453 | 506 | 516 |
| Tax % | 23% | 24% | 24% | 23% | 22% | 24% | 25% | |
| Net Profit | 125 | 189 | 213 | 235 | 275 | 343 | 380 | 389 |
| EPS in Rs | 31.19 | 47.14 | 53.15 | 11.74 | 13.77 | 17.16 | 18.99 | 19.42 |
| Dividend Payout % | 13% | 11% | 47% | 9% | 7% | 12% | 21% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | % | 27% | 14% | 24% | ||
| Compounded Profit Growth | % | 13% | 15% | 9% | ||
| Stock Price CAGR | % | % | % | -38% | ||
| Return on Equity | % | 17% | 17% | 16% |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 40 | 40 | 40 | 40 | 40 | 40 | 40 |
| Reserves | 807 | 979 | 1,172 | 1,389 | 1,644 | 1,965 | 2,330 |
| Borrowings | 12 | 9 | 3 | 17 | 14 | 10 | 17 |
| Other Liabilities | 208 | 470 | 478 | 648 | 560 | 969 | 1,433 |
| Total Liabilities | 1,067 | 1,498 | 1,693 | 2,093 | 2,258 | 2,985 | 3,820 |
| Fixed Assets | 54 | 66 | 53 | 68 | 289 | 322 | 408 |
| CWIP | 11 | 17 | 3 | 5 | 13 | 22 | 16 |
| Investments | 764 | 728 | 930 | 1,457 | 1,494 | 1,996 | 2,559 |
| Other Assets | 238 | 687 | 706 | 563 | 462 | 646 | 836 |
| Total Assets | 1,067 | 1,498 | 1,693 | 2,093 | 2,258 | 2,985 | 3,820 |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 116 | 104 | 148 | 327 | 113 | 563 | 713 |
| Cash from Investing Activity | -118 | -36 | -64 | -375 | -173 | -502 | -619 |
| Cash from Financing Activity | -14 | -16 | -20 | -20 | -20 | -22 | -18 |
| Net Cash Flow | -17 | 52 | 63 | -68 | -80 | 39 | 77 |
| Free Cash Flow | 75 | 80 | 139 | 283 | -131 | 489 | 578 |
| CFO/OP | 129% | 74% | 94% | 155% | 68% | 177% | 192% |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 91 | 85 | 49 | 31 | 24 | 33 | 41 |
| Inventory Days | |||||||
| Days Payable | |||||||
| Cash Conversion Cycle | 91 | 85 | 49 | 31 | 24 | 33 | 41 |
| Working Capital Days | -118 | -252 | -162 | -187 | -125 | -198 | -279 |
| ROCE % | 26% | 24% | 23% | 22% | 24% | 22% |
| Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|
| FIIs | 15.89% | 14.54% | 14.40% | 11.69% |
| DIIs | 39.23% | 37.85% | 37.64% | 37.75% |
| Public | 44.86% | 47.62% | 47.96% | 50.55% |
| No. of Shareholders | 8,31,170 | 8,64,415 | 8,74,414 | 8,94,029 |
Fundamentals
Market Cap₹ 15,038 Cr.
Current Price₹ 752
Stock P/E38.7
Book Value₹ 118
ROCE22.1 %
ROE16.0 %
Dividend Yield0.53 %
Face Value₹ 2.00
Compounded Sales Growth (TTM)24%
Compounded Profit Growth (TTM)9%
Consolidated figures.
Valuation
Market capRs 15,055 Cr
Enterprise valueRs 14,690 Cr
P/E (TTM)39.65x
Price to book10.54x
Price to sales9.84x
EV / EBITDA26.22x
EV / EBIT28.68x
EV / sales9.60x
Price to cash flow46.04x
Earnings yield2.52%
Dividend yield0.13%
Profitability
Operating margin (excl. other income)24.54%
Operating margin (incl. other income)32.12%
EBITDA margin36.62%
Pre-tax margin33.04%
Net profit margin24.82%
Net margin, latest quarter19.66%
ROE17.79%
ROCE23.05%
ROA12.40%
ROE, 3-year average19.02%
ROCE, 3-year average24.76%
ROA, 3-year average13.48%
ROIC (approx.)37.07%
Tax rate23.02%
Other income / net worth5.42%
Growth
Sales growth (latest year)34.28%
Profit growth (latest year)10.45%
Sales CAGR, 3 years46.35%
Profit CAGR, 3 years23.47%
Sales growth QoQ27.43%
Profit growth QoQ0.56%
Sales growth YoY (latest quarter)26.01%
Profit growth YoY (latest quarter)8.18%
Per share
EPS (TTM)Rs 18.99
EPS (latest year)Rs 11.74
EPS (latest quarter)Rs 4.51
EPS, 3-year averageRs 23.17
Book value per shareRs 71.44
Sales per shareRs 76.50
Cash flow per shareRs 16.35
Free cash flow per shareRs 28.90
Dividend per share (latest year)Rs 1.00
Dividend per share, 3-year averageRs 3.67
Dividends
Dividend payout8.52%
Dividend payout, 3-year average22.05%
Efficiency
Asset turnover0.49x
Fixed asset turnover14.96x
Debtor days31 days
Debtors turnover11.94x
Cash conversion cycle41 days
Working capital days-279 days
Leverage
Total debtRs 17 Cr
Cash and bankRs 382 Cr
Net debtRs -365 Cr
Debt to equity0.01x
Net debt / EBITDA-0.65x
Interest coverage76.57x
Owners' fund to total sources68.25%
Debt to assets0.80%
Cash flow
Cash from Operating Activity (latest year)Rs 327 Cr
Cash from Investing Activity (latest year)Rs -375 Cr
Cash from Financing Activity (latest year)Rs -20 Cr
Net Cash Flow (latest year)Rs -68 Cr
Free cash flow (latest year)Rs 578 Cr
FCFE (approx.: FCF + change in debt)Rs 592 Cr
Cash from ops / profit, 5 years1.29x
Sales to cash flow3.13x
Statement figures
Net sales (TTM)Rs 1,530 Cr
Net sales (latest year)Rs 1,022 Cr
Sales (latest quarter)Rs 458 Cr
Operating profit excl. other income (latest year)Rs 251 Cr
Operating profit (latest quarter)Rs 103 Cr
Other income (TTM)Rs 130 Cr
EBITDA (TTM)Rs 560 Cr
PBDT (TTM)Rs 554 Cr
Profit before tax (TTM)Rs 506 Cr
Tax (latest year)Rs 70 Cr
Net profit (TTM)Rs 380 Cr
Net profit (latest year)Rs 235 Cr
Net profit (latest quarter)Rs 90 Cr
Depreciation (TTM)Rs 48 Cr
Depreciation (latest quarter)Rs 14 Cr
Interest (TTM)Rs 7 Cr
Cost of goods sold (latest year)Rs 68 Cr
Total expenditure (latest year)Rs 771 Cr
Total income (latest year)Rs 1,099 Cr
Share capitalRs 40 Cr
ReservesRs 1,389 Cr
Shareholders' fundsRs 1,429 Cr
Total assetsRs 2,093 Cr
Net blockRs 68 Cr
Capital work in progressRs 5 Cr
InvestmentsRs 1,457 Cr
ReceivablesRs 86 Cr
Other liabilitiesRs 648 Cr
Shares outstanding (crore)20.00
Computed by MarketFriction from the consolidated statements. Returns use average balances.
Not enough history to build valuation bands (needs two years of profits and prices).
| Period | 544467 | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | -3.5% | -2.8% | -0.8 pts |
| 1 month | -7.9% | -6.8% | -1.1 pts |
| 3 months | -11.9% | -7.6% | -4.3 pts |
Red flags
F-score 4 of 7No red flags in the latest statements and filings.
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.
Latest quarter
Jun 2026Sales ₹517 Cr +65.7% vs Jun 2025.
Net profit ₹98 Cr +8.9%.
Activity
Compare| Company | Mcap (Cr) | P/E | ROCE |
|---|---|---|---|
| Central Depository Services (India) Ltd | 26,374 | 56.0 | 32.0 % |
| Computer Age Management Services Ltd | 16,545 | 36.5 | 48.3 % |
| KFin Technologies Ltd | 14,490 | 41.4 | 29.2 % |
| Beacon Trusteeship Ltd | 154 | 22.0 | 19.8 % |
No bulk or block deals on record.
No corporate actions on record.
No announcements in our files yet.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.
Quick answers
What is the market cap of National Securities Depository Ltd?
National Securities Depository Ltd (544467) has a market capitalisation of Rs 15,038 Cr. at the 2026-10-01 close.
What is the P/E ratio of National Securities Depository Ltd?
National Securities Depository Ltd trades at a P/E of 38.7 on trailing twelve-month profit, at the 2026-10-01 close.
What were National Securities Depository Ltd's latest quarterly results?
In the Jun 2026 quarter, National Securities Depository Ltd sales was Rs 517 Cr (+65.7% vs Jun 2025) and net profit was Rs 98 Cr.