Central Depository Services (India) Ltd

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Central Depository Services (India) Ltd

₹ 1,790 -0.20%
01 Jul 1:39 p.m.
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 ₹ 37,421 Cr.
  • Current Price ₹ 1,790
  • High / Low ₹ 1,990 / 1,047
  • Stock P/E 71.1
  • Book Value ₹ 84.2
  • Dividend Yield 0.53 %
  • ROCE 41.9 %
  • ROE 32.6 %
  • 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 37.8% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 29.7%
  • Company has been maintaining a healthy dividend payout of 55.0%
  • Debtor days have improved from 24.2 to 17.8 days.
  • Company's median sales growth is 18.8% of last 10 years

Cons

  • Stock is trading at 21.4 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 46.8 days to 207 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

Consolidated Figures in Rs. Crores / View Standalone

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
137 140 149 141 125 150 207 214 241 257 322 278 224
46 66 58 57 56 70 79 84 93 103 122 117 115
Operating Profit 90 75 91 85 68 80 128 130 148 154 200 161 109
OPM % 66% 53% 61% 60% 55% 53% 62% 61% 61% 60% 62% 58% 49%
11 6 21 20 19 24 23 21 29 30 37 21 32
Interest 0 0 0 0 0 0 0 0 0 0 0 0 0
Depreciation 4 4 5 5 5 6 6 7 8 10 12 13 14
Profit before tax 98 77 107 99 82 98 145 145 168 175 225 168 127
Tax % 20% 25% 25% 25% 23% 25% 25% 26% 23% 23% 28% 23% 21%
78 58 80 75 63 74 109 107 129 134 162 130 100
EPS in Rs 3.72 2.76 3.85 3.57 3.02 3.52 5.21 5.14 6.18 6.42 7.75 6.22 4.80
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
89 105 123 146 188 196 225 344 551 555 812 1,082
56 60 59 67 77 87 136 132 186 236 324 458
Operating Profit 33 45 64 79 110 109 89 212 365 319 488 624
OPM % 37% 43% 52% 54% 59% 56% 40% 62% 66% 57% 60% 58%
35 23 72 41 38 49 59 57 55 66 95 120
Interest 0 0 0 0 0 0 0 0 0 0 0 0
Depreciation 5 6 4 4 7 10 12 9 11 19 27 49
Profit before tax 62 63 131 117 141 148 136 260 409 365 556 695
Tax % 21% 31% 31% 26% 27% 23% 22% 22% 24% 24% 25% 24%
50 43 91 87 104 115 107 201 312 276 420 526
EPS in Rs 2.36 2.09 4.35 4.10 4.94 5.43 5.08 9.59 14.89 13.20 20.05 25.20
Dividend Payout % 42% 53% 29% 37% 35% 37% 44% 47% 50% 61% 55% 50%
Compounded Sales Growth
10 Years: 26%
5 Years: 37%
3 Years: 25%
TTM: 33%
Compounded Profit Growth
10 Years: 31%
5 Years: 38%
3 Years: 19%
TTM: 26%
Stock Price CAGR
10 Years: %
5 Years: 67%
3 Years: 48%
1 Year: 47%
Return on Equity
10 Years: 25%
5 Years: 29%
3 Years: 30%
Last Year: 33%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

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 249 265 375 429 494 564 619 773 988 1,109 1,359 1,551
0 0 0 0 0 0 0 0 0 2 1 3
101 122 74 73 92 116 138 207 232 241 317 399
Total Liabilities 455 491 553 606 690 784 862 1,084 1,326 1,457 1,781 2,162
10 7 4 5 76 75 74 73 106 125 342 446
CWIP 0 0 0 0 0 0 0 23 4 174 4 7
Investments 375 389 457 503 521 593 665 709 925 937 1,149 1,351
70 95 92 98 93 115 123 278 290 221 287 357
Total Assets 455 491 553 606 690 784 862 1,084 1,326 1,457 1,781 2,162

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
35 43 28 43 79 86 82 193 283 249 386 543
-13 -19 0 18 -67 -67 -33 -107 -146 -126 -249 -298
-23 -23 -28 -31 -38 -20 -51 -47 -94 -158 -169 -231
Net Cash Flow -1 0 1 29 -26 -1 -1 38 44 -35 -32 14

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 25 24 39 33 37 36 42 25 30 25 30 18
Inventory Days
Days Payable
Cash Conversion Cycle 25 24 39 33 37 36 42 25 30 25 30 18
Working Capital Days -223 -253 -100 -79 -92 -79 -85 -111 -75 -44 -22 207
ROCE % 12% 14% 22% 22% 24% 22% 18% 31% 40% 30% 40% 42%

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

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