Central Depository Services (India) Ltd

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Central Depository Services (India) Ltd

₹ 1,798 0.20%
01 Jul - close price
cdslindia.com NSE: CDSL
About

Central Depository Services Limited is a Market Infrastructure Institution (MII), part of the capital market structure, providing services to all market participants - exchanges, clearing corporations, depository participants (DPs), issuers and investors. It is a facilitator for holding of securities in the dematerialised form and an enabler for securities transactions. [1]

Key Points

Business Overview
CDSL facilitates holding and transacting securities in electronic form and facilitates the settlement of trades executed on stock exchanges. These securities include equities, debentures, bonds, units of mutual funds, Certificates of deposit (CDs), commercial papers (CPs), Treasury Bills (TBills), and others. Other services include e-Voting, M-Voting, Myeasi Mobile App and e-Locker. [1]

Website NSE
  • Market Cap ₹ 37,568 Cr.
  • Current Price ₹ 1,798
  • High / Low ₹ 1,990 / 1,047
  • Stock P/E 81.3
  • Book Value ₹ 66.6
  • Dividend Yield 0.53 %
  • ROCE 46.5 %
  • ROE 36.2 %
  • Face Value ₹ 10.0
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Pros

  • Company is almost debt free.
  • Company is expected to give good quarter
  • Company has delivered good profit growth of 43.0% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 33.8%
  • Company has been maintaining a healthy dividend payout of 60.4%
  • Company's median sales growth is 19.5% of last 10 years

Cons

  • Stock is trading at 27.0 times its book value
  • Promoter holding is low: 15.0%
  • Promoter holding has decreased over last 3 years: -5.00%
  • Working capital days have increased from 19.9 days to 222 days

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Financial Services Financial Services Capital Markets Depositories, Clearing Houses and Other Intermediaries

Part of Nifty 500 Nifty Smallcap 100 Nifty Alpha 50 Nifty MidSmallcap 400 Nifty Smallcap 50

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025
100 112 123 118 98 123 164 170 185 198 248 221 182
34 50 45 46 42 53 61 64 71 76 93 90 91
Operating Profit 67 61 78 72 56 69 103 105 114 122 155 131 90
OPM % 67% 55% 63% 61% 57% 56% 63% 62% 62% 62% 62% 59% 50%
9 46 18 15 14 48 18 16 20 23 76 14 23
Interest 0 0 0 0 0 0 0 0 0 0 0 0 0
Depreciation 3 4 4 4 4 4 5 5 6 8 10 11 12
Profit before tax 72 104 91 83 66 112 116 116 128 136 221 134 102
Tax % 19% 14% 25% 25% 22% 18% 24% 26% 24% 23% 23% 22% 21%
58 89 69 63 52 92 88 86 97 105 171 105 81
EPS in Rs 2.80 4.26 3.28 3.00 2.47 4.41 4.21 4.10 4.66 5.04 8.19 5.02 3.86
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
75 86 102 122 151 152 158 271 415 451 641 848
51 62 52 60 66 71 95 99 133 184 249 350
Operating Profit 25 23 50 62 85 82 63 172 282 267 392 498
OPM % 33% 27% 49% 51% 56% 54% 40% 64% 68% 59% 61% 59%
31 31 64 34 28 36 43 42 65 93 102 136
Interest 0 0 0 0 0 0 0 0 0 0 0 0
Depreciation 4 5 3 3 6 8 9 7 10 16 21 41
Profit before tax 52 49 111 92 106 110 97 206 337 344 473 594
Tax % 20% 30% 31% 26% 27% 23% 20% 22% 22% 21% 23% 22%
41 35 77 68 78 84 77 160 264 272 363 462
EPS in Rs 1.98 1.66 3.68 3.25 3.72 4.04 3.70 7.66 12.62 13.02 17.38 22.11
Dividend Payout % 50% 66% 34% 46% 47% 50% 61% 59% 59% 61% 63% 57%
Compounded Sales Growth
10 Years: 26%
5 Years: 40%
3 Years: 27%
TTM: 32%
Compounded Profit Growth
10 Years: 32%
5 Years: 43%
3 Years: 21%
TTM: 27%
Stock Price CAGR
10 Years: %
5 Years: 67%
3 Years: 48%
1 Year: 47%
Return on Equity
10 Years: 27%
5 Years: 33%
3 Years: 34%
Last Year: 36%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Equity Capital 104 104 104 104 104 104 104 104 104 104 104 209
Reserves 223 230 322 358 398 438 465 578 746 861 1,055 1,182
0 0 0 0 0 0 0 0 0 0 0 2
87 106 54 55 71 70 84 151 176 182 243 324
Total Liabilities 414 440 481 517 573 613 654 833 1,027 1,148 1,403 1,718
8 6 4 5 75 72 72 71 103 109 324 357
CWIP 0 0 0 0 0 0 0 23 4 174 4 6
Investments 347 361 408 462 432 482 524 576 717 740 905 1,086
59 74 69 50 67 58 57 164 203 125 170 269
Total Assets 414 440 481 517 573 613 654 833 1,027 1,148 1,403 1,718

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
30 36 21 33 65 73 64 169 232 207 334 443
-6 -11 8 -2 -23 -55 -14 -82 -114 -67 -204 -206
-24 -24 -28 -31 -38 -20 -51 -47 -94 -157 -167 -230
Net Cash Flow -1 -0 1 -0 4 -2 -1 39 24 -18 -37 7

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 16 16 35 27 27 21 28 33 24 19 17 13
Inventory Days
Days Payable
Cash Conversion Cycle 16 16 35 27 27 21 28 33 24 19 17 13
Working Capital Days -280 -321 -130 -103 -125 -125 -137 -149 -94 -95 -67 222
ROCE % 11% 12% 21% 21% 22% 21% 17% 33% 44% 38% 44% 46%

Shareholding Pattern

Numbers in percentages

6 Recently
Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025
20.00% 20.00% 20.00% 20.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00%
0.00% 15.65% 15.83% 14.67% 15.10% 15.25% 18.16% 11.38% 14.00% 13.77% 17.15% 11.34%
34.69% 18.96% 18.46% 18.48% 22.03% 21.80% 21.33% 23.15% 24.92% 21.57% 19.11% 15.41%
45.31% 45.40% 45.71% 46.85% 47.87% 47.94% 45.51% 50.47% 46.09% 49.66% 48.74% 58.25%
No. of Shareholders 7,90,0557,97,0298,01,2208,28,8538,32,1258,09,3157,77,0308,43,1018,28,80511,03,61611,73,41915,29,589

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

Documents

Announcements

Annual reports

DRHP

Concalls