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NSDL Annual Report 2023-24 Summary: Corporate Overview: NSDL (National Securities Depository Limited) coined the word "demat" in 1996 and facilitates the electronic holding and trading of securities. It provides services to issuer companies, investors, and stockbrokers, contributing to the safety and stability of the Indian marketplace. NSDL has leveraged its technological infrastructure to cater to the diverse needs of the securities market. NSDL has introduced several innovative concepts, including opening depository accounts in the name of beneficial owners, dematerialization of securities, and facilitating corporate actions directly to investors' demat and bank accounts respectively. NSDL stands as a steadfast guardian ensuring safety and security for all stakeholders. NSDL provides products and services like SPEED-e, e-voting, digital LAS, and security and covenant monitoring using DLT. NSDL aims to broaden its market reach, enhance customer experience, expand custody services, promote investor education, and focus on talent development. NSDL is committed to contributing to a resilient, transparent, and inclusive capital market ecosystem. Financial Performance: NSDL's revenue from operations increased to ₹473.06 crore in FY 2023-24, a Y-o-Y growth of 15.6%. Profit Before Tax increased to ₹327.52 crore, a Y-o-Y growth of 20.6%. The custody value crossed $5 Trillion. NSDL has 3.58 Cr Demat Account Holders and 46,015 Number of Issuers. NSDL commands over 97.45% of the market share in the demat value of debt securities. NSDL holds a market share of 98.18% in respect of listed corporate debt securities, with a custody value of 41.36 lakh crore as of March 31, 2024. As of March 2024; 46,018 listed and unlisted companies have dematerialised their securities through NSDL. The number of securities dematerialised exceeded 3.77 lakh crore. NSDL opened 51.15 lakh new accounts, bringing the total to 5.27 crore. As of March 31, 2024, it held assets in custody aggregating to ₹65.11 lakh crore for individuals. NSDL Commemorating 25 glorious years of service with $5 trillion worth securities in demat account. Investors present in 99.3% of pincodes in India. 63,000+ Service centers - Covering every state & union territory. Milestones: NSDL rolls out T+0 Settlement, being the first nation to do so. NSDL Custody Value crosses US $5 Trillion. NSDL launches Security & covenant monitoring platform using Distributed Ledger Technology (Block-chain). Chairman's Message: Parveen Kumar Gupta, Chairman, highlights the active participation of retail investors and active Demat Accounts reaching *3.58 crore and $5 Trillion custody value. The transition to the T+1 settlement cycle resulting in decreased counterparty risk, enhanced liquidity and reduced operational risk. Spearheaded by SEBI, NSDL successfully implemented the Beta version of the T+0 Settlement Cycle. NSDL developed DeLiTe, a blockchain-based Distributed Ledger Technology platform, to facilitate listed corporate bond issuers and Debenture trustees to manage the entire life cycle of issuance of corporate bonds. NSDL, jointly with other Mlls, introduced the common Online Dispute Resolution Portal (ODR Portal) in the Indian Securities Market to foster investor protection. Currently around 11,200 FPIs are registered with NSDL that constitutes 99.99% market share of the FPI holdings. MD & CEO Message: Padmaja Chunduru, MD & CEO, emphasizes India's position as the 4th largest capital market and 5th largest economy. She notes the growth in assets under custody at NSDL, and the introduction of T+0 settlements. The company is already taking a number of steps including enhancing the infrastructure as well as fine tuning the applications so as to be able to handle larger volume of transactions within a short span of time. The company enhanced DeLiTe' to facilitate listed corporate bond issuers and Debenture trustees to manage the entire life cycle of issuance of corporate bonds, including monitoring the security and the covenants. NDML achieved a total income of ₹94.35 crore and a Profit After Tax of ₹35.47 crore. NSDL Payments Bank achieved a total income of ₹719.88 crore with PAT of ₹1.58 crore. Overall, the Group achieved ₹1268.24 crore revenue from operations (Y-o-Y growth of 24.1%), total income ₹1365.70 crore (Y-o-Y growth of 24.2%) and PAT ₹275.44 crore (Y-o-Y growth of 17.3%). The company continued with its steady growth with the Revenue from Operations increasing to ₹473.06 crore in FY 2023-24 from ₹409.17 crore in FY 2022-23, a Y-o-Y growth of 15.6% and the Profit Before Tax increasing to ₹327.52 crore from ₹271.68 crore in FY 2022-23 a Y-o-Y growth of 20.6%. Business Growth & Customer Engagement: NSDL holds the annual DDP conference for the members of Designated Depository Participants, which was held in Feb 2024. Currently around 11,200 FPIs are registered with NSDL that constitutes 99.99% market share of the FPI holdings. As of March 31, 2024, NSDL has 3.58 crore Demat Account holders through 281 Depository Participants operating from more than 61,000 Service Centers. Also as of March 31, 2024, we held assets in custody in relation to Non-Resident Indians aggregating to ₹4.17 lakh crore, constituting 86% of the total value of such assets held by NRIs. Another interesting initiative was the launch of WhatsApp services for Demat account holders, ensuring crucial updates. Commitment to social responsibility: NSDL committing and investing in various CSR activities. NSDL Shiksha-Sahyog - an educational scholarship project. Investor Education and Awareness: At NSDL, various Investor Education activities help investors become a 'Prudent Investor'. During the FY 2023-24, NSDL conducted special programmes for Defence personnel serving in Indian Army, Border Security Force (BSF), Central Reserve Police Force (CRPF), Central Industrial Security Force (CISF), etc. at Jammu & Kashmir, Himachal Pradesh and other Indian States. The programmes are conducted in various languages and cover a variety of investor-related topics. These programmes are conducted in association with SEBI, Stock Exchanges, Depository Participants and other institutions to educate demat account holders and prospective investors about depository services. Highlights of IAPs conducted in FY 2023-24 • 2100+ Total IAPs • 1.35+ lakh Total Participants • 36 States/UTs • 17 Languages. Governance: The esteemed Board of Directors provides strategic guidance and expertise. NSDL's Leadership Team includes Ms. Padmaja Chunduru (Managing Director & CEO), Mr. S. Gopalan (Executive Director), and Mr. Rahul Pratap Singh (Vice President, Business Development and Products). Employee Engagement & Wellness: NSDL promotes a healthy, supportive, and productive work environment. Access to continuous learning opportunities, team development courses, and skill-building workshops are arranged for professional growth of our employees. Additional points from the OCR data include detailed financial ratios and performance data, composition of board committees, segment reporting, audit qualifications, and specific investments.
Safeguarding Investments, Powering Growth. NSDL's 2022-23 Annual Report highlights its role as a steadfast guardian in the capital markets, ensuring safety and security for all stakeholders through cutting-edge technology. As of March 31, 2023, NSDL is the largest depository in India. **Corporate Overview:** NSDL, a SEBI-registered Market Infrastructure Institution (MII), offers various products and services in India's capital markets. Since November 1996, it has pioneered the dematerialization of securities. It facilitates holding securities in digital form through Demat Accounts held via Depository Participants, covering equities, mutual funds, debt instruments, and electronic gold receipts. NSDL operates a centralized digital book-keeping system, maintaining ownership records on behalf of issuer entities and providing services to various market participants. Its core depository services generate recurring revenue through annual custody fees and maintenance charges. NSDL leverages its technological infrastructure to offer additional products, e-services, and value-added services through its subsidiaries, NDML and NPBL. Key facts include its establishment in 1996, over 59,000 investor service centers, $4 trillion in custody value, and holding over 99% of Foreign Portfolio Investment (FPI) operating in India. Core functions revolve around record-keeping, facilitating asset servicing, and managing ownership transfers. NSDL provides e-services like SPEED-e for delivery instructions and IDeAS for viewing instructions and holdings, as well as value-added services such as DPM Plus for nomination and KYC updates. It offers issuer service offerings including e-AGM and e-Voting for shareholder participation, an online CP Issuance Platform, and a blockchain-based solution for security and covenant monitoring. Digital integrations include Digital LAS for secure pledging and Demat Account Validation. **Financial Performance:** The report includes a financial performance overview. The following data is presented within the document: * Total Income for FY 2022-23 was ₹486 crores, reflecting a 5-year CAGR of 16.9%. * Profit After Tax for FY 2022-23 was ₹211 crores, with a 5-year CAGR of 21.80%. * Operating Profit for FY 2022-23 was ₹282 crores with a 5-year CAGR of 20%. * Earnings Per Share was ₹10.54 and Book Value per Share was ₹64. * Net Worth was ₹1,272 crores. * EBITDA Margin was 58.10%. * PAT Margin was 43.40%. * Return on Equity was 16.60%. **Milestones & Recent Developments:** Key milestones include commencing dematerialization in 1996, launching SPEED-e in 2001, introducing T+2 settlement in 2003, launching IDEAS in 2004, crossing $1 trillion in dematerialized form value in 2007, launching FPI regime in 2014, being awarded CSD of the Year in 2017, crossing ₹300 lakhs crores in dematerialized form value in 2021, and launching a blockchain-based market platform in 2022. The report also notes that the Market ka Eklavya program had over 250 programmes in 2023, and the launch of T+1 rolling settlement cycle in equity market. **MD & CEO Message:** Padmaja Chunduru, MD & CEO, highlights India's growth story and NSDL's role. Revenue from Operations increased to ₹409.17 crores, and Profit Before Tax increased to ₹271.68 crores. Active Demat Accounts increased to 3.15 crores, and total issuers went up to 40,987. NSDL services 99.99% of the value of Equity, Debt and other securities held by FPIs in dematerialized form and holds ₹43,060.50 billion in custody for individuals and HUFs. Market share in value of listed Corporate Debt securities in custody was 97.84%. Under the SEBI initiative for Corporate Bonds, the DLT Blockchain-based platform picked up steam during the year. NSDL focused on optimizing systems, improving vendor engagement, and embracing new technologies. The Primary data Centre was shifted to a professionally managed DC. The company added Instagram to social media platforms. The Market Ka Eklavya (MKE) program has spread across India, reaching over 16000 students and is focused on social responsibility with health & livelihood programs, skill development programs, education, environmental sustainability and rural development. NDML achieved a Profit After Tax of ₹32.99 crores, and NPBL registered a Profit After Tax of ₹8.06 crores. The Group achieved revenue from operations of ₹1021.99 crores and PAT of ₹234.81 crores. HRMS has been implemented to improve employee experience. **Corporate Social Responsibility:** NSDL undertakes various CSR initiatives focused on education, health, skill development, environmental sustainability, rural development, and disaster relief. This includes Project Artha Samarth for skills training, Project SAMEIP for differently abled individuals, Project Sanjeevani for mobile medical units, Project Yogdaan for thalassemia patients, Eye Care for salt-pan workers, Night School Transformation Programme for underprivileged students, and school kits for students through "Chalo School Chale". **Investor Education and Awareness:** NSDL strives to educate the investor community, including retail investors, corporate employees, students, and others, by conducting programs in various languages on investor-related topics. It launched Market Ka Eklavya (MKE) to educate students about financial planning and reaches remote locations. During 2022-23, the organization conducted 1,088 investor awareness programmes with over 97,000 participants, and used social media for spreading investor awareness. **Management Discussion and Analysis:** NSDL holds a variety of asset classes in demat accounts including equities, funds, debt instruments, and e-gold receipts. A slab-wise fee structure incentivizes depository participants. The number of companies opting for dematerialization continues to increase, totaling 40,987 listed & unlisted companies live at NSDL as of March 2023. Custody value as of March 31, 2023 was approximately 84% and 88% of total securities in terms of numbers and values, respectively. Value of shares settled in demat form at NSDL was ₹49,603 billion in 2022-23 and quantity of shares settled in demat was 169 billion in 2022-23. NSDL has almost 97% market share of the industry in demat value of debt securities and implemented Hadoop for data processing, plus several upgradations and enhancements to their various systems. As on March 31, 2023, 30.01 million investors were registered for TRADES (Transaction Related Alerts of Demat account received through SMS), and Cybersecurity initiatives are ongoing. Key regulatory implementations include Block Mechanism and Pay-in Validation. Business initiatives and progress include operations in GIFT City (IFSC), NSDL Mobile App enhancements, and NSDL Consolidated Account Statement (CAS) enhancements. Number of demat accounts increased to 4.76 crore during the year, with 3.15 crore being active accounts. The report also includes detail on Foreign Portfolio Investors (FPIs), its Assets Under Custody (AUC), and its Net Investment. **Additional Report Information:** * Provides a list of the Board of Directors and Leadership Team. * Provides a list of the Statutory and Internal auditors. * Notice of the Annual General Meeting. * Details of share capital. * Details of financial statements and accounting policies. * Full list of "strike-off" companies with outstanding balances.
NSDL Annual Report 2020-21 Summary: The National Securities Depository Limited (NSDL) Annual Report 2020-21 highlights the company's performance and initiatives. NSDL's key products include SPEED-e (an internet infrastructure for depository services), IDEAS (internet-based Demat Account Statement), and Consolidated Account Statement (CAS). The number of SPEED-e service subscribers reached 213, with over 12.76 lakh registered users, executing 18.45 crore instructions in FY21. IDeAS usage grew by 12.5%, reaching 8.93 lakh clients. NSDL dispatched over 6 crore CAS statements during the year and incorporated new features to enhance the user experience, including insurance policy details. The number of users accessing the Mobile App reached 4.43 lakh. NSDL e-Voting solution facilitated many companies to offer e-Voting services. Real-time SMS alerts service sent 12.63 crore messages. STEADY enabled Straight Through Processing of trade information, processing 37.46 lakh contract notes. The number of active depository accounts increased to 2.17 crore, resulting in a net increase of 20 lakh accounts. A total of 3.64 crore demat accounts had been opened by March 31, 2021. The MD & CEO message reflects on FY 2020-21, stating that total custody value of assets held in NSDL demat accounts crossed the milestone of ₹250 lakh crore in May 2021, maintaining a market share of over 89%. The Company's revenue from operations grew by 34%, and profit after tax by 62%. NSDL's API-based Instant Demat Accounting Opening service and Digital Loan against Securities service were key digital initiatives. NSDL Database Management Ltd (NDML) and NSDL Payments Bank (NPBL) also demonstrated growth and progress. The Board of Directors consists of key figures from finance and technology sectors. The Notice section details the Ninth Annual General Meeting, discussing ordinary business such as adopting the audited financial statements and declaring a final dividend of ₹5 per share. The procedure for joining the AGM through VC/OAVM is outlined, emphasizing the importance of registering email addresses and utilizing stable internet connections. A key note discusses the proposed re-appointment of Mr. Rajeev Kumar as Shareholder Director, highlighting his experience and remuneration. The Directors' Report for the year ended March 31, 2021 highlights the Company's financial results, with Revenue from Operations increasing to ₹335.58 crore and Profit after Tax to ₹176.14 crore. The Board recommends a dividend of ₹5.00 per share. Details of subsidiary companies, NSDL Database Management Limited and NSDL Payments Bank Limited, are provided. Key regulatory implementations included OTP based off-market transfers and stamp duty collection. Business initiatives included operations in GIFT City and enhancements to the Mobile App. NSDL is building an API-based "Innovation Sandbox" for FinTech firms and a Blockchain platform for debenture issuance's asset cover monitoring. CAS enhancements and asset value are mentioned. The number of securities dematerialized in NSDL stood at more than 2.43 lakh crore. FPI Monitor registered 855 new FPI applications. The total number of Depository Participants stood at 276. SEBI has directed compliance with Primary Data Centre and Disaster Recovery Site seismic zones. NSDL's Security Operations Centre (SOC) and API Economy initiatives are highlighted. The report also delves into Distributed Ledger Technology (Blockchain) adoption and efforts to enhance the electronic instruction platform (SPEED-e) and IDeAS service. The Report details the process for ISIN Numbering, Investor Education and Awareness programs and the World Investor Week (WIW). It discusses NSDL newsletter, 'The Financial Kaleidoscope', and publications like 'NSDL Primer on Personal Finance' for investor education, along with a list of related parties, Corporate Governance practices, and risk management strategies. The CSR initiatives include Project Artha Samarth, a skill development initiative, and Project Yogdaan, supporting Thalassemia patients. A financial summary and accounting information are provided, as well as descriptions of key ratios. Details about resources committed toward regulatory functions and declarations by Directors are included. The Auditor's Report does not contain any qualifications, reservations or adverse remarks.
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