Central Depository Services (India) Ltd

Central Depository Services (India) Ltd

₹ 1,860 1.91%
23 Feb 3:59 p.m.
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

Services
The company facilitates holding and transacting in securities in the electronic form and facilitates 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.
Services include - e-Voting, M-Voting, Myeasi Mobile App and e-Locker. [1][2]

  • Market Cap 19,432 Cr.
  • Current Price 1,860
  • High / Low 2,067 / 881
  • Stock P/E 55.1
  • Book Value 117
  • Dividend Yield 0.86 %
  • ROCE 30.3 %
  • ROE 23.8 %
  • Face Value 10.0

Pros

  • Company is almost debt free.
  • Company has delivered good profit growth of 21.6% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 26.7%
  • Company has been maintaining a healthy dividend payout of 52.6%
  • Debtor days have improved from 31.6 to 24.8 days.
  • Company's median sales growth is 16.5% of last 10 years

Cons

  • Stock is trading at 15.8 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

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
86 103 117 146 152 137 140 149 141 125 150 207 214
30 40 44 47 49 46 66 58 57 56 70 79 84
Operating Profit 56 63 74 99 103 90 75 91 85 68 80 128 130
OPM % 65% 61% 63% 68% 68% 66% 53% 61% 60% 55% 53% 62% 61%
17 7 13 19 11 11 6 21 20 19 24 23 21
Interest 0 0 0 0 0 0 0 0 0 0 0 0 0
Depreciation 3 2 2 3 3 4 4 5 5 5 6 6 7
Profit before tax 71 69 85 115 111 98 77 107 99 82 98 145 145
Tax % 23% 25% 24% 25% 25% 20% 25% 25% 25% 23% 25% 25% 26%
54 52 64 86 84 78 58 80 75 63 74 109 107
EPS in Rs 5.14 4.95 6.11 8.22 8.01 7.43 5.53 7.69 7.14 6.04 7.04 10.42 10.28
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

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
96 91 89 105 123 146 188 196 215 344 551 555 696
36 55 56 60 59 67 77 87 125 132 186 236 289
Operating Profit 61 36 33 45 64 79 110 109 89 212 365 319 407
OPM % 63% 39% 37% 43% 52% 54% 59% 56% 42% 62% 66% 57% 58%
22 33 35 23 72 41 38 49 59 57 55 66 88
Interest 0 0 0 0 0 0 0 0 0 0 0 0 0
Depreciation 4 3 5 6 4 4 7 10 12 9 11 19 25
Profit before tax 78 66 62 63 131 117 141 148 136 260 409 365 469
Tax % 29% 23% 21% 31% 31% 26% 27% 23% 22% 22% 24% 24%
55 51 50 43 91 87 104 115 107 201 312 276 353
EPS in Rs 5.30 4.89 4.72 4.18 8.71 8.21 9.87 10.86 10.16 19.17 29.78 26.41 33.78
Dividend Payout % 33% 41% 42% 53% 29% 37% 35% 37% 44% 47% 50% 61%
Compounded Sales Growth
10 Years: 20%
5 Years: 24%
3 Years: 37%
TTM: 23%
Compounded Profit Growth
10 Years: 22%
5 Years: 22%
3 Years: 37%
TTM: 22%
Stock Price CAGR
10 Years: %
5 Years: 55%
3 Years: 45%
1 Year: 87%
Return on Equity
10 Years: 21%
5 Years: 24%
3 Years: 27%
Last Year: 24%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

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 199 224 249 265 375 429 494 564 619 773 988 1,109 1,122
0 0 0 0 0 0 0 0 0 0 0 2 2
66 87 101 122 74 73 92 116 138 206 232 241 403
Total Liabilities 369 416 455 491 553 606 690 784 862 1,084 1,326 1,457 1,632
6 8 10 7 4 5 76 75 74 73 106 125 128
CWIP 0 1 0 0 0 0 0 0 0 23 4 174 181
Investments 307 342 375 389 457 503 521 593 665 709 925 937 1,021
55 64 70 95 92 98 93 115 123 278 290 221 302
Total Assets 369 416 455 491 553 606 690 784 862 1,084 1,326 1,457 1,632

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
40 24 35 43 28 43 79 86 82 193 283 249
-35 -6 -13 -19 0 18 -67 -67 -33 -107 -146 -129
-4 -18 -23 -23 -28 -31 -38 -20 -51 -47 -94 -155
Net Cash Flow -0 -0 -1 0 1 29 -26 -1 -1 38 44 -35

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 25 34 25 24 39 33 37 36 44 40 30 25
Inventory Days
Days Payable
Cash Conversion Cycle 25 34 25 24 39 33 37 36 44 40 30 25
Working Capital Days -80 -160 -223 -253 -100 -79 -92 -79 -90 -109 -75 -78
ROCE % 25% 15% 12% 14% 22% 22% 24% 22% 18% 31% 40% 30%

Shareholding Pattern

Numbers in percentages

Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 15.00% 15.00% 15.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 15.65% 15.83% 14.67% 15.10% 15.25% 18.16%
41.96% 41.35% 38.08% 36.20% 35.92% 34.69% 18.96% 18.46% 18.48% 22.03% 21.80% 21.33%
38.02% 38.64% 41.92% 43.79% 44.07% 45.31% 45.40% 45.71% 46.85% 47.87% 47.94% 45.51%
No. of Shareholders 1,77,1482,73,6284,93,3325,99,8046,94,9797,90,0557,97,0298,01,2208,28,8538,32,1258,09,3157,77,030

* 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.

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