Sustained high technology spend
Technology costs have risen sharply and management declined to provide a breakdown or guidance on future trajectory, raising concerns about margin pressure.
CDSL / Q3-FY26 / risks
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Central Depository Services (India) · Material risks, their source context, and severity in the latest available quarter.
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Risk intelligence
Material risks this quarter
medium
Potential regulatory changes in KYC pricing
Analysts raised concerns about possible capping of KYC charges or changes in fetch rules, which could impact CVL's revenue. Management acknowledged the risk but said no changes are imminent.
Incremental market share loss
An analyst noted a slight drop in incremental market share; management attributed it to seasonal factors but did not provide detailed data.