CDSL stock nosedives 9.5% on subdued Q3 earnings

Shares of 360 WAM slumped more than 6 percent while those of Angel One were down over 4 percent.

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26 Aug, 2025 12:21

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Shares of Central Depository Services (CDSL) nosedived 9.5 percent to slip to an over three-month low of Rs 1,358.35 on January 27, dragged by the company's lower-than-expected Q3 earnings performance.

The company's net profit for the quarter under review rose 21 percent on year to Rs 130 crore, up from Rs 107 crore that it reported in the same period a year ago. However, the net profit growth tailed the growth in total income, which grew nearly 30 percent to Rs 278 crore.

Despite that, the bottomline and total income not just came below the Street's consensus, but also fell on a sequential basis. The company had posted a net profit of Rs 161.96 crore and total income of Rs 358.51 crore in the last quarter.

In addition, net new demat accounts opened during the quarter was also the lowest since Q4 of FY24. New account additions for Q3 stood at 92 lakh, down from 1.18 crore accounts opened during the September quarter.

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Brokerage firm Motilal Oswal Financial Services believes continued investments in human resources and technology for future growth could restrict gains from operating leverage for CDSL. However, the firm still expects EBITDA margins to expand to around 65 percent in FY27 from 60.3 percent in FY24.

At 11.29 am, shares of CDSL were trading at Rs 1,382.40 on the NSE. The fall in the stock was also intensified by a spike in trading volumes in the counter. As much as 53 lakh shares of the company changed hands on the exchanges so far, more than double the one-month average of 25 lakh shares.

Concerns over the company's weak earnings show and slow demat additions also spilled over other capital market plays like 360 One WAM and Angel One, triggering a selloff in those counters as well. Shares of 360 WAM slumped more than 6 percent while those of Angel One were down over 4 percent.

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