Central Depository Services (India) Ltd
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]
- Market Cap ₹ 20,276 Cr.
- Current Price ₹ 1,940
- High / Low ₹ 2,067 / 974
- Stock P/E 63.8
- Book Value ₹ 93.5
- Dividend Yield 0.82 %
- ROCE 37.9 %
- ROE 30.0 %
- Face Value ₹ 10.0
Pros
- Company is almost debt free.
- Company has delivered good profit growth of 28.5% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 30.2%
- Company has been maintaining a healthy dividend payout of 59.9%
- Debtor days have improved from 25.3 to 19.0 days.
Cons
- Stock is trading at 20.8 times its book value
- Promoter holding is low: 15.0%
- Promoter holding has decreased over last 3 years: -5.00%
* 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
Sector: Miscellaneous Industry: Miscellaneous
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
78 | 75 | 75 | 86 | 102 | 122 | 151 | 152 | 158 | 271 | 415 | 451 | 554 | |
30 | 64 | 51 | 62 | 52 | 60 | 66 | 71 | 95 | 99 | 133 | 184 | 220 | |
Operating Profit | 49 | 11 | 25 | 23 | 50 | 62 | 85 | 82 | 63 | 172 | 282 | 267 | 334 |
OPM % | 62% | 15% | 33% | 27% | 49% | 51% | 56% | 54% | 40% | 64% | 68% | 59% | 60% |
21 | 44 | 31 | 31 | 64 | 34 | 28 | 36 | 43 | 42 | 65 | 93 | 97 | |
Interest | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | 0 | 0 | 0 | 0 | 0 |
Depreciation | 4 | 2 | 4 | 5 | 3 | 3 | 6 | 8 | 9 | 7 | 10 | 16 | 19 |
Profit before tax | 66 | 53 | 52 | 49 | 111 | 92 | 106 | 110 | 97 | 206 | 337 | 344 | 411 |
Tax % | 29% | 23% | 20% | 30% | 31% | 26% | 27% | 23% | 20% | 22% | 22% | 21% | |
47 | 41 | 41 | 35 | 77 | 68 | 78 | 84 | 77 | 160 | 264 | 272 | 318 | |
EPS in Rs | 4.54 | 3.93 | 3.96 | 3.32 | 7.35 | 6.49 | 7.43 | 8.07 | 7.40 | 15.32 | 25.24 | 26.04 | 30.38 |
Dividend Payout % | 38% | 51% | 50% | 66% | 34% | 46% | 47% | 50% | 61% | 59% | 59% | 61% |
Compounded Sales Growth | |
---|---|
10 Years: | 20% |
5 Years: | 24% |
3 Years: | 42% |
TTM: | 22% |
Compounded Profit Growth | |
---|---|
10 Years: | 25% |
5 Years: | 29% |
3 Years: | 52% |
TTM: | 14% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | 53% |
3 Years: | 39% |
1 Year: | 93% |
Return on Equity | |
---|---|
10 Years: | 21% |
5 Years: | 25% |
3 Years: | 30% |
Last Year: | 30% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Sep 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 104 | 104 | 104 | 104 | 104 | 104 | 104 | 104 | 104 | 104 | 104 | 104 | 104 |
Reserves | 189 | 206 | 223 | 230 | 322 | 358 | 398 | 438 | 465 | 578 | 746 | 861 | 872 |
-0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | 0 | 0 | 0 | 0 | |
51 | 73 | 87 | 106 | 54 | 55 | 71 | 70 | 84 | 151 | 176 | 182 | 334 | |
Total Liabilities | 345 | 384 | 414 | 440 | 481 | 517 | 573 | 613 | 654 | 833 | 1,027 | 1,148 | 1,311 |
5 | 8 | 8 | 6 | 4 | 5 | 75 | 72 | 72 | 71 | 103 | 109 | 111 | |
CWIP | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | 23 | 4 | 174 | 181 |
Investments | 292 | 323 | 347 | 361 | 408 | 462 | 432 | 482 | 524 | 576 | 717 | 740 | 829 |
48 | 52 | 59 | 74 | 69 | 50 | 67 | 58 | 57 | 164 | 203 | 125 | 190 | |
Total Assets | 345 | 384 | 414 | 440 | 481 | 517 | 573 | 613 | 654 | 833 | 1,027 | 1,148 | 1,311 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
29 | 27 | 30 | 36 | 21 | 33 | 65 | 73 | 64 | 169 | 232 | 207 | |
-15 | -9 | -6 | -11 | 8 | -2 | -23 | -55 | -14 | -82 | -114 | -67 | |
-15 | -18 | -24 | -24 | -28 | -31 | -38 | -20 | -51 | -47 | -94 | -157 | |
Net Cash Flow | -0 | -0 | -1 | -0 | 1 | -0 | 4 | -2 | -1 | 39 | 24 | -18 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 21 | 17 | 16 | 16 | 35 | 27 | 27 | 21 | 28 | 33 | 24 | 19 |
Inventory Days | ||||||||||||
Days Payable | ||||||||||||
Cash Conversion Cycle | 21 | 17 | 16 | 16 | 35 | 27 | 27 | 21 | 28 | 33 | 24 | 19 |
Working Capital Days | -104 | -216 | -280 | -321 | -130 | -103 | -125 | -125 | -137 | -149 | -94 | -104 |
ROCE % | 22% | 13% | 11% | 12% | 21% | 21% | 22% | 21% | 17% | 33% | 44% | 38% |
Documents
Announcements
Annual reports
Concalls
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Feb 2024Transcript PPT
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Feb 2024TranscriptNotesPPT
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Nov 2023Transcript PPT
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Aug 2023Transcript PPT
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May 2023TranscriptNotesPPT
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Feb 2023TranscriptNotesPPT
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Oct 2022TranscriptNotesPPT
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Aug 2022TranscriptNotesPPT
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May 2022TranscriptNotesPPT
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Feb 2022TranscriptNotesPPT
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]