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CDSL Share Price Target: CDSL shares traded lower on Thursday, falling 0.86 per cent to close at Rs 1,525.90 on the NSE after the depository reported a year-on-year drop in quarterly profit and revenue.

Global brokerage UBS maintained its ‘buy’ rating on CDSL but trimmed its target price to Rs 1,400, below the current market price of around Rs 1,539. The brokerage noted a deceleration in the company’s growth trajectory and highlighted that elevated valuations continue to pose a challenge.

UBS said that while operating leverage may support EBITDA margin expansion, the pace of improvement is likely to remain modest. It also pointed out that market cyclicality, tighter regulations, and competition from NSDL could limit CDSL’s growth potential.

For the July–September quarter of FY26, CDSL reported a 13.6 per cent decline in net profit to Rs 140.21 crore compared to Rs 162.02 crore a year ago. Revenue from operations slipped 1 per cent year-on-year to Rs 318.89 crore, against Rs 322.26 crore in Q2 FY25.

Total expenses rose to Rs 157.41 crore from Rs 134.41 crore in the corresponding period last year, impacting the overall profitability.

Abhay Shukla is a Senior Sub-Editor at Zee Business, where he covers the stock markets, corporate news, personal finance, technology, and auto sectors.

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