CDSL has informed the Exchange about Transcript of Analysts/Institutional Investor Meet/Con. Call held on May 05, 2025.
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Awaiting price reaction for this filing.
CDSL hosted its Q4 FY25 earnings call hosted by HDFC Securities, with MD & CEO Nehal Vora, CFO Girish Amesara and subsidiary CEOs. FY25 was a record year with consolidated revenue of INR 1,199 crores and net profit of INR 526 crores (up 25% YoY), while standalone net profit grew 27% to INR 462 crores. However, Q4 was weak - quarterly consolidated net profit fell to INR 100 crores from INR 129 crores YoY, attributed to lower market and delivery volumes. Demat accounts grew 32% to 15.29 crores (79% market share), with India adding 4.1 crore accounts taking the total to 19.24 crores. Subsidiary CDSL Ventures (KYC) reported 35% income growth to INR 254 crores. The Board declared a dividend of INR 12.50 per share along with a 1:1 bonus issue, effectively INR 25 per share (highest ever). LIC insurance repository sign-up is done with integration in progress.
Record annual results and the highest-ever dividend with 1:1 bonus are positives for shareholders, but the weak Q4 performance, declining PBT margin (from 61% to 58%), and management's repeated refusal to provide forward guidance, technology cost breakdown, or clarity on INR 1,500 crore cash deployment may keep the stock under pressure near-term. The market-linked nature of revenue (delivery volumes, IPO activity) remains a key risk.