Analysis published 27 Mar 2026
AI-generated · cited to primary sources · not investment advice
C D S L (CDSL) Nov 2025 Filing Analysis
04 · Risk
What could break the thesis?
Demat Account Base and Activity
The pace of account openings improved sequentially, with 66 lakh accounts opened in Q2 FY26 compared to 56 lakh in Q1 FY26. Total demat accounts reached 16.5 crore, maintaining an 80% overall market share. (1 easing)
“CDSL saw more than 65 lakh accounts opened in the quarter, bringing CDSL's total number of demat accounts to 16.5 crore, maintaining our 80% market share.”
C D S L · Concall Transcript · Nov 2025 · p.3
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