National Securities Depository (NSDL) has received approval from the Securities and Exchange Board of India (SEBI) for the re-appointment of Mr. Sanjay Panicker as a Non-Independent Director on its Governing Board. The approval, effective from September 29, 2025, was communicated to NSDL via a SEBI letter dated November 21, 2025.

Key Details of the Re-appointment

About Sanjay Panicker

Mr. Panicker brings a wealth of experience to his role at NSDL:

• Educational Background:

  • Bachelor's degree in Mechanical Engineering from the University of Pune
  • MBA from the University of Pune
  • Post-graduate diploma in Financial Analysis from the Institute of Chartered Financial Analysts of India
  • Certified Associate of the Indian Institute of Banking & Finance

• Professional Experience:

  • Over 28 years in corporate finance and accounts
  • Currently serves as Executive Director at IDBI Bank Limited
  • Previously associated with Vans Information and Investor Services Limited

Implications for NSDL

The re-appointment of Mr. Panicker, with his extensive experience in corporate finance and banking, signifies NSDL's commitment to maintaining strong governance and financial expertise on its board. His continued presence is likely to contribute to the strategic direction and financial oversight of the organization.

This development underscores the importance of experienced leadership in India's securities depository system, which plays a crucial role in the country's financial markets infrastructure.

NSDL has duly informed the BSE Limited of this re-appointment, in compliance with Regulation 30 read with Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

For more information, interested parties can visit the NSDL website at https://nsdl.co.in/ .

National Securities Depository (NSDL) , India's largest depository, has reported strong financial results for the second quarter, demonstrating robust growth across key metrics.

Financial Highlights

NSDL's standalone total income for Q2 reached INR 250.60 crore, marking an 18.9% increase year-on-year. The company's profit after tax grew by 18.3% to INR 120.40 crore compared to the same period last year.

Operational Performance

The company achieved a significant milestone by crossing 4 crore DEMAT accounts, with the total number standing at 4.19 crore as of September 30. This represents a 4.9% incremental growth rate, outperforming the industry which experienced a 39% decline in new account additions.

NSDL's market share in incremental DEMAT account additions during Q2 rose to 17.6%, a substantial increase from 9.9% in the same period last year. This 770 basis point improvement underscores the company's growing dominance in the retail investor segment.

Unlisted Issuer Equity Segment

NSDL further strengthened its leadership in the Unlisted Issuer Equity segment, capturing a 73% market share. The company onboarded over 11,500 companies during the quarter, bringing the total number of issuers on the NSDL network to more than 1 lakh as of September 30.

Technology Initiatives

The company continues to focus on technology and process innovation. Key digital initiatives launched recently include:

• Migration to the common contract note regime on the STEADY platform
• Integration of proxy advisory recommendations within the e-voting system
• Launch of an enhanced SPEED-e application offering a consolidated view of securities
• Implementation of direct payout settlement of securities

Investor Awareness and Protection

NSDL remains committed to investor protection and financial literacy. The company's joint awareness campaign with SEBI, under the hashtag "Raho Digitally Chaukanna," reached over 79 million investors across India. Additionally, NSDL conducted more than 2,500 investor awareness programs annually, reaching approximately 1.56 lakh participants across various tier cities.

Management Commentary

Vijay Chandok, Managing Director and CEO of NSDL, commented on the results: "Our operational performance remained strong during the quarter, with significant growth in DEMAT accounts and market share. We continue to focus on deepening retail investor participation, leveraging technology for operational excellence, and supporting regulatory initiatives."

Future Outlook

While not providing specific guidance, NSDL's management expressed optimism about future growth prospects. The company plans to continue investing in technology and skilled personnel to drive innovation and maintain its market leadership position.

As India's financial services ecosystem continues to deepen with strong domestic participation and increasing investor awareness, NSDL is well-positioned to play a central role in this transformation, leveraging its position as the country's largest depository.