Central Depository Services (India) Ltd

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Central Depository Services (India) Ltd

₹ 1,944 -0.23%
13 Dec - 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 ₹ 40,619 Cr.
  • Current Price ₹ 1,944
  • High / Low ₹ 1,962 / 811
  • Stock P/E 76.2
  • Book Value ₹ 73.2
  • Dividend Yield 0.49 %
  • ROCE 40.2 %
  • ROE 31.3 %
  • Face Value ₹ 10.0
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Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company is expected to give good quarter
  • Company has delivered good profit growth of 29.9% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 28.9%
  • Company has been maintaining a healthy dividend payout of 55.3%
  • Company's median sales growth is 18.5% of last 10 years

Cons

  • Stock is trading at 26.6 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: Financial Services Industry: Miscellaneous

Part of Nifty Smallcap 50 Nifty 500 Nifty Smallcap 250 Nifty 500 Multicap 50:25:25 Nifty Total Market

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
146 152 137 140 149 141 125 150 207 214 241 257 322
47 49 46 66 58 57 56 70 79 84 93 103 122
Operating Profit 99 103 90 75 91 85 68 80 128 130 148 154 200
OPM % 68% 68% 66% 53% 61% 60% 55% 53% 62% 61% 61% 60% 62%
19 11 11 6 21 20 19 24 23 21 29 30 37
Interest 0 0 0 0 0 0 0 0 0 0 0 0 0
Depreciation 3 3 4 4 5 5 5 6 6 7 8 10 12
Profit before tax 115 111 98 77 107 99 82 98 145 145 168 175 225
Tax % 25% 25% 20% 25% 25% 25% 23% 25% 25% 26% 23% 23% 28%
86 84 78 58 80 75 63 74 109 107 129 134 162
EPS in Rs 4.11 4.01 3.72 2.76 3.85 3.57 3.02 3.52 5.21 5.14 6.18 6.42 7.75
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
91 89 105 123 146 188 196 225 344 551 555 812 1,035
55 56 60 59 67 77 87 136 132 186 236 324 402
Operating Profit 36 33 45 64 79 110 109 89 212 365 319 488 633
OPM % 39% 37% 43% 52% 54% 59% 56% 40% 62% 66% 57% 60% 61%
33 35 23 72 41 38 49 59 57 55 66 95 117
Interest 0 0 0 0 0 0 0 0 0 0 0 0 0
Depreciation 3 5 6 4 4 7 10 12 9 11 19 27 37
Profit before tax 66 62 63 131 117 141 148 136 260 409 365 556 713
Tax % 23% 21% 31% 31% 26% 27% 23% 22% 22% 24% 24% 25%
51 50 43 91 87 104 115 107 201 312 276 420 533
EPS in Rs 2.44 2.36 2.09 4.35 4.10 4.94 5.43 5.08 9.59 14.89 13.20 20.05 25.49
Dividend Payout % 41% 42% 53% 29% 37% 35% 37% 44% 47% 50% 61% 55%
Compounded Sales Growth
10 Years: 25%
5 Years: 33%
3 Years: 33%
TTM: 66%
Compounded Profit Growth
10 Years: 29%
5 Years: 30%
3 Years: 28%
TTM: 66%
Stock Price CAGR
10 Years: %
5 Years: 78%
3 Years: 33%
1 Year: 106%
Return on Equity
10 Years: 23%
5 Years: 26%
3 Years: 29%
Last Year: 31%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
Equity Capital 104 104 104 104 104 104 104 104 104 104 104 104 209
Reserves 224 249 265 375 429 494 564 619 773 988 1,109 1,359 1,320
0 0 0 0 0 0 0 0 0 0 2 1 1
87 101 122 74 73 92 116 138 207 232 241 317 518
Total Liabilities 416 455 491 553 606 690 784 862 1,084 1,326 1,457 1,781 2,048
8 10 7 4 5 76 75 74 73 106 125 342 375
CWIP 1 0 0 0 0 0 0 0 23 4 174 4 4
Investments 342 375 389 457 503 521 593 665 709 925 937 1,149 1,247
64 70 95 92 98 93 115 123 278 290 221 287 423
Total Assets 416 455 491 553 606 690 784 862 1,084 1,326 1,457 1,781 2,048

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
24 35 43 28 43 79 86 82 193 283 249 386
-6 -13 -19 0 18 -67 -67 -33 -107 -146 -126 -249
-18 -23 -23 -28 -31 -38 -20 -51 -47 -94 -158 -169
Net Cash Flow -0 -1 0 1 29 -26 -1 -1 38 44 -35 -32

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 34 25 24 39 33 37 36 42 25 30 25 30
Inventory Days
Days Payable
Cash Conversion Cycle 34 25 24 39 33 37 36 42 25 30 25 30
Working Capital Days -160 -223 -253 -100 -79 -92 -79 -85 -111 -75 -44 -22
ROCE % 15% 12% 14% 22% 22% 24% 22% 18% 31% 40% 30% 40%

Shareholding Pattern

Numbers in percentages

4 Recently
Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00%
0.00% 0.00% 0.00% 15.65% 15.83% 14.67% 15.10% 15.25% 18.16% 11.38% 14.00% 13.77%
36.20% 35.92% 34.69% 18.96% 18.46% 18.48% 22.03% 21.80% 21.33% 23.15% 24.92% 21.57%
43.79% 44.07% 45.31% 45.40% 45.71% 46.85% 47.87% 47.94% 45.51% 50.47% 46.09% 49.66%
No. of Shareholders 5,99,8046,94,9797,90,0557,97,0298,01,2208,28,8538,32,1258,09,3157,77,0308,43,1018,28,80511,03,616

* 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