Central Depository Services (India) Ltd

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Central Depository Services (India) Ltd

₹ 1,540 -0.27%
22 Nov - 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 ₹ 32,191 Cr.
  • Current Price ₹ 1,540
  • High / Low ₹ 1,679 / 811
  • Stock P/E 70.0
  • Book Value ₹ 57.7
  • Dividend Yield 0.62 %
  • ROCE 44.5 %
  • ROE 34.2 %
  • 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 33.9% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 32.8%
  • Company has been maintaining a healthy dividend payout of 61.4%
  • Company's median sales growth is 18.8% of last 10 years

Cons

  • Stock is trading at 26.7 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 500 Multicap 50:25:25 Nifty Smallcap 100 Nifty Smallcap 50 Nifty Total Market Nifty Smallcap 250

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

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
112 114 100 112 123 118 98 123 164 170 185 198 248
34 34 34 50 45 46 42 53 61 64 71 76 93
Operating Profit 78 80 67 61 78 72 56 69 103 105 114 122 155
OPM % 70% 70% 67% 55% 63% 61% 57% 56% 63% 62% 62% 62% 62%
16 8 9 46 18 15 14 48 18 16 20 23 76
Interest 0 0 0 0 0 0 0 0 0 0 0 0 0
Depreciation 3 3 3 4 4 4 4 4 5 5 6 8 10
Profit before tax 91 85 72 104 91 83 66 112 116 116 128 136 221
Tax % 25% 25% 19% 14% 25% 25% 22% 18% 24% 26% 24% 23% 23%
68 64 58 89 69 63 52 92 88 86 97 105 171
EPS in Rs 3.27 3.05 2.80 4.26 3.28 3.00 2.47 4.41 4.21 4.10 4.66 5.04 8.19
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

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
75 75 86 102 122 151 152 158 271 415 451 641 800
64 51 62 52 60 66 71 95 99 133 184 249 304
Operating Profit 11 25 23 50 62 85 82 63 172 282 267 392 496
OPM % 15% 33% 27% 49% 51% 56% 54% 40% 64% 68% 59% 61% 62%
44 31 31 64 34 28 36 43 42 65 93 102 135
Interest 0 0 0 0 0 0 0 0 0 0 0 0 0
Depreciation 2 4 5 3 3 6 8 9 7 10 16 21 30
Profit before tax 53 52 49 111 92 106 110 97 206 337 344 473 601
Tax % 23% 20% 30% 31% 26% 27% 23% 20% 22% 22% 21% 23%
41 41 35 77 68 78 84 77 160 264 272 363 460
EPS in Rs 1.97 1.98 1.66 3.68 3.25 3.72 4.04 3.70 7.66 12.62 13.02 17.38 21.99
Dividend Payout % 51% 50% 66% 34% 46% 47% 50% 61% 59% 59% 61% 63%
Compounded Sales Growth
10 Years: 24%
5 Years: 33%
3 Years: 33%
TTM: 59%
Compounded Profit Growth
10 Years: 30%
5 Years: 34%
3 Years: 31%
TTM: 56%
Stock Price CAGR
10 Years: %
5 Years: 68%
3 Years: 28%
1 Year: 71%
Return on Equity
10 Years: 24%
5 Years: 29%
3 Years: 33%
Last Year: 34%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

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 206 223 230 322 358 398 438 465 578 746 861 1,055 997
0 0 0 0 0 0 0 0 0 0 0 0 0
73 87 106 54 55 71 70 84 151 176 182 243 440
Total Liabilities 384 414 440 481 517 573 613 654 833 1,027 1,148 1,403 1,645
8 8 6 4 5 75 72 72 71 103 109 324 349
CWIP 0 0 0 0 0 0 0 0 23 4 174 4 0
Investments 323 347 361 408 462 432 482 524 576 717 740 905 1,009
52 59 74 69 50 67 58 57 164 203 125 170 287
Total Assets 384 414 440 481 517 573 613 654 833 1,027 1,148 1,403 1,645

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
27 30 36 21 33 65 73 64 169 232 207 334
-9 -6 -11 8 -2 -23 -55 -14 -82 -114 -67 -204
-18 -24 -24 -28 -31 -38 -20 -51 -47 -94 -157 -167
Net Cash Flow -0 -1 -0 1 -0 4 -2 -1 39 24 -18 -37

Ratios

Standalone Figures in Rs. Crores / View Consolidated

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 17 16 16 35 27 27 21 28 33 24 19 17
Inventory Days
Days Payable
Cash Conversion Cycle 17 16 16 35 27 27 21 28 33 24 19 17
Working Capital Days -216 -280 -321 -130 -103 -125 -125 -137 -149 -94 -95 -67
ROCE % 13% 11% 12% 21% 21% 22% 21% 17% 33% 44% 38% 44%

Shareholding Pattern

Numbers in percentages

2 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