CDSLFinancial Services

Central Depository Services (India) Limited

Financial Services · ISIN INE736A01011 · NSE EQ · FV ₹10
Last price
₹1,349
+3.88%today
What this company does

Central Depository Services (India) Limited operates in the Financial Services sector. It booked ₹293 cr of revenue in its latest quarter (Q1 FY27) and kept 40.1% of sales as profit.

64out of 100
Equitytale Health Score
Mixed

Healthier than 64% of companies in Financial Services, on the 5 of 6 measures we could read for it. Each measure is ranked against the 54–250 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
47

At close. Not part of the score.

Profitability & returns84

How much profit it earns on the money it employs

Cash quality86

Whether reported profit actually arrives as cash

Growth & consistency71

Whether sales and profit have grown, and how steadily

Valuation7

What today's price implies, against our models or its peers

Governance & risk72

How much of the promoters' stake is pledged, and how much they hold

Not measurable for this company: balance sheet. Those pillars are left out of the score rather than counted as zero.

Is this company doing well?
not investment advice
Strengths
Makes a profit
Strong 40% net margin
Sales up 13% vs last year
Profit up 15% vs last year
No promoter shares pledged
Strong 24% return on equity
Virtually debt-free
Turns profit into real cash
Watch-outs
None flagged from our data

What if I invest in CDSL?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹1,349 +3.88%
latest close · 2026-09-17
1-year return
+132.1%
52-wk low ₹50852-wk high ₹1,445
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio60.0High
LowAverageHigh
P/B ratio14.39High
Below bookModerateHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity24.0%Strong
WeakFairStrong ▸15%
Return on capital32.5%Strong
WeakFairStrong
Net margin40.1%Strong
ThinDecentStrong
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.00Comfortable
LowModerateHigh ▸1
Current ratio2.92Ample
Tight ◂1HealthyAmple
More figures
Market cap
₹28,202 cr
Book value
₹94
EPS
₹5.62
latest quarter
Net debt
Enterprise value
EBITDA
EBIT
Operating margin
Return on assets
19.4%
Earnings yield
1.67%
P/S
24.08
Sales / share
₹56.0
Tax rate
29.4%
Face value
₹10
Shares
20.9 cr
Working capital
₹711 cr
Current assets
₹1,082 cr
Current liabilities
₹371 cr
Delivery %
36.9%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the exchange filings
not investment advice
Hard to value confidentlyLow confidence
The market price is far above what these earnings- and book-based models support — a fast-growing or asset-light business can trade well above them for years, so we won't put a confident number on how overpriced it is.
Models span ₹117₹273, midpoint ₹172

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹293 cr
Other Income₹48 cr
Total Income₹341 cr
Cost of Materials₹0 cr
Purchases of Stock-in-Trade₹0 cr
Employee Benefit Expense₹47 cr
Finance Costs₹4 L
Depreciation & Amortisation₹19 cr
Other Expenses₹108 cr
Total Expenses₹174 cr
Profit before Tax₹166 cr
Tax Expense₹49 cr
Share of JV / Associates₹25 L
Net Profit₹118 cr
Net margin on total income34.6%
Where the money goes · Q1 FY27
% of total income
Employee benefit expense₹47 cr13.7%
Finance costs₹4 L0.0%
Depreciation & amortisation₹19 cr5.6%
Other expenses₹108 cr31.8%
Tax expense₹49 cr14.4%
Profit for the period₹118 cr34.5%
Total income ₹341 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue304 cr263 cr293 cr
Total income334 cr268 cr341 cr
Expenses160 cr164 cr174 cr
Profit before tax173 cr104 cr166 cr
Tax39 cr23 cr49 cr
Net profit (owners' share)133 cr80 cr118 cr
Net margin (owners' share, on revenue)43.8%30.5%40.1%
EPS (₹)6.383.845.62
YoY (latest quarter): total income +15.4% · net profit +14.8%
Balance sheet & cash flow · as of Mar 2026
Debt-free
Total assets
₹2,419 cr
Shareholder equity
₹1,960 cr
parent shareholders
Total debt
₹0 cr
Cash
₹51 cr
Cash flow · H1 FY26
Operating
₹377 cr
Investing
₹-121 cr
Financing
₹-262 cr
Peer comparison
Financial Services · by market value (sector-level match)
CompanyPriceMarket capP/E
HDFC Bank Limited₹713₹10.98 L cr14.3
ICICI Bank Limited₹1,348₹9.67 L cr15.6
State Bank of India₹989₹9.13 L cr9.5
Bajaj Finance Limited₹1,015₹6.31 L cr26.4
Bajaj Finserv Limited₹1,859₹5.97 L cr23.7
Kotak Mahindra Bank Limited₹417₹4.14 L cr18.9
Axis Bank Limited₹1,240₹3.86 L cr12.6
Shriram Finance Limited₹995₹2.34 L cr16.7
ICICI Prudential Asset Management Company Limited₹3,098₹1.53 L cr39.7
Same sector · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
0.94%
trailing 12 months
Dividend / share (TTM)
₹12.75
Last dividend
₹12.75
ex 17 Jul 2026
ActionDetailEx-date
Dividend₹12.75 / share17 Jul 2026
Dividend₹12.5 / share7 Aug 2025
Bonus issue1:123 Aug 2024
Dividend₹19 / share16 Jul 2024
Dividend₹16 / share25 Aug 2023
Dividend₹15 / share7 Sep 2022
Who owns it · 2026-06-30
No pledge
Promoter
15.0%
FII / Foreign
8.2%
DII / Domestic
15.2%
Retail / others
61.6%
Smart-money activity
Insider trades
SoldUNION BANK OF INDIA · -25,000 · ₹69.6 L20 Jan 20
SoldUNION BANK OF INDIA · -26,343 · ₹72.1 L17 Jan 20
SoldBSE LTD · Promoters41.80 L · ₹101.5 cr28 Nov 19
Bulk / block deals
short · NSE5016 Sep 26
short · NSE84815 Sep 26
short · NSE20031 Aug 26
Stake changes
SoldStandard Chartered Bank→ 0.00% · 75.00 L27 Mar 24
SoldBSE Limited · promoter→ 15.00% · 52.25 L14 Jun 23
SoldBSE Limited · promoter→ 15.00% · 52.25 L14 Jun 23
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 14 Aug 2025
See the official result
1
To consider and adopt: a. the Audited Standalone Financial Statements of CDSL for the Financial Year ended March 31, 2025 and the Reports of the Board of Directors and the Statutory Auditors thereon; and b. the Audited Consolidated Financial Statements of CDSL for the Financial Year ended March 31, 2025 and the Report of the Statutory Auditors thereon
Backed by 100% of shareholders other than promotersneeded 50%
4.60 cr votes for, 743 against · 0% of mutual funds and other big investors said no
2
To declare Final Dividend on Equity Shares of the Company for the Financial Year ended March 31, 2025
Backed by 100% of shareholders other than promotersneeded 50%
4.60 cr votes for, 594 against · 0% of mutual funds and other big investors said no
3
To consider and approve the appointment of Shri Rajesh Kumar (DIN:11191844), in place of Shri Masil Jeya Mohan P (DIN: 08502007), Non-Independent Director, who retires from office by rotation and being eligible, does not offer himself for re-appointment.
Backed by 100% of shareholders other than promotersneeded 50%
4.60 cr votes for, 4,578 against · 0% of mutual funds and other big investors said no
4
To appoint M/s. Vatsal Doshi & Associates with Registration No. S2020MH725700 as Secretarial Auditor of the Company for a period of 5(Five) years
Backed by 100% of shareholders other than promotersneeded 50%
4.60 cr votes for, 3,947 against · 0% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 1 named members
owning 15.0% between them · as of 2026-06-30
Bse Limited15.00%
Business done with them
FY2026 · 1 of the group
The company paid ₹36 cr to companies in the promoter group last year — about 3.1% of its ₹1,145 cr revenue and received ₹3 cr back from them.
BSE LIMITED
Other payments to them · Rendering and recieving of services, License agreements- rent and maintenance, Dividend paid , Trade recievable , Loans and advances , Trade payables
also owns 15.00% of the company
₹36 cr
company paid
BSE LIMITED
Provided services to them · Rendering and recieving of services, License agreements- rent and maintenance, Dividend paid , Trade recievable , Loans and advances , Trade payables
also owns 15.00% of the company
₹3 cr
company received

The company also transacted with 30 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.