NSDL
from 816 today
NSDL reported disappointing margins in 1QFY27 as operating expenses surged, leading to a cut in earnings estimates for FY27/FY28 by 1%/2%. We reiterate our Neutral rating on the stock with a one-year target price of INR930.
NSDL reported a 1QFY27 operating revenue beat, driven by banking services, though margins and EBITDA disappointed due to higher-than-expected operating expenses. We cut our FY27/FY28 earnings estimates by 1%/2% and reiterate our Neutral rating with a one-year target price of INR930.
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