Operates India's largest securities depository, holding electronic records of shares, bonds and other financial instruments for investors. The Depository Activity segment — 83.8% of FY26 segment revenue at Rs 960.45 crore — earns from annual account maintenance fees, transaction charges on settlements, and issuer-related charges for companies whose securities it services. As of March 31, 2026, the platform carried 18.01 crore demat accounts across 33.26 crore folios, with assets under custody of Rs 88.2 lakh crore by Q1 FY27. The Data Entry and Storage segment — 15.9% of revenue at Rs 182.81 crore — is run through subsidiary CDSL Ventures and consists of KYC registration and identity-verification services for the securities market; its FY26 revenue fell to Rs 182 crore from Rs 231 crore as SEBI cut the KYC fetch charge by 20% (to INR28) and the creation charge by 75% (to INR5) effective April 1, 2026. The Repository segment — 0.3% of revenue at Rs 3.40 crore — operates through Centrico Insurance Repository, holding insurance policies in electronic form, and remained loss-making at the EBIT level (Rs -8.00 crore in FY26). The business is asset-light with no material inputs; the dominant cost line is other operating expenses (35.2% of FY26 revenue), within which technology spend has now overtaken employee cost at the consolidated level (Rs 162 crore in FY26 versus employee cost at 13.7% of revenue). EBITDA margin stood at 59.3% in FY26 on revenue of Rs 1,144.92 crore. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Depository Activity (84%), Data Entry and Storage (16%), Repository (0%). Asset-light, quasi-monopoly securities-market infrastructure with regulator-set tariffs
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 551 | 555 | 812 | 1,082 | 1,145 |
| EBITDA (ex other income) | 367 | 323 | 489 | 624 | 586 |
| margin % | 66.5 | 58.3 | 60.3 | 57.7 | 51.2 |
| Owners' profit | 311 | 276 | 419 | 527 | 456 |
| EPS, as reported (₹) | 29.78 | 26.41 | 40.11 | 25.20 | 21.82 |
| ROE % · ROCE % | — · — | 22.0 · 29.0 | 27.8 · 36.1 | 29.2 · 37.5 | 22.7 · 29.9 |
| Debt / equity (x) | — | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | 283 | 249 | 386 | 543 | 467 |
| Capex | (14) | (197) | (54) | (124) | (100) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 322 | 278 | 224 | 259 | 319 | 304 | 263 | 293 |
| Profit before tax | 224 | 168 | 126 | 152 | 184 | 173 | 104 | 166 |
| Net profit | 162 | 130 | 100 | 102 | 140 | 133 | 80 | 118 |
| EPS (₹) | 7.75 | 6.23 | 4.80 | 4.90 | 6.71 | 6.38 | 3.84 | 5.62 |
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Depository Activity | 960 | 83.8 |
| Data Entry and Storage | 183 | 15.9 |
| Repository | 3 | 0.3 |
| Total, before eliminations | 1,147 | 100.0 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| CENTRAL DEPO SER (I) LTD ◆ | 28,424 | 60.3 | 14.20 | 41.8 | 22.7 | 29.9 | 27.2 | 63.4 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 10 Sept 2026 · CDSL schedules analyst meetings with Nippon India MF and HDFC MF on Sept 16, 2026 | board shareholder meetings | low | — | — |
| 10 Sept 2026 · CDSL completes second tranche investment in IIBHL, holds 40 percent stake | business updates | medium | — | — |
| 1 Sept 2026 · CDSL receives 5 lakh ONDC shares, takes 2.20 percent stake worth Rs 5 Cr | strategic transactions | high | — | — |
| 1 Sept 2026 · CDSL schedules analyst call with Lyptus Capital on Sept 4, 2026 | board shareholder meetings | low | — | — |
| 27 Aug 2026 · CDSL appoints Geetha Gangadharan as Non-Independent Director | management changes | medium | — | — |
| 27 Aug 2026 · CDSL: Internal appointee Farokh Patel replaces Nayana Ovalekar as CRO and Compliance Officer | management changes | high | — | — |
| 27 Aug 2026 · CDSL: Nayana Ovalekar exits as CRO on Aug 31, Farokh Patel to replace from Sep 1 | management changes | high | — | — |
| 13 Aug 2026 · CDSL gets SEBI nod for Rs 5 crore further investment in ONDC | strategic transactions | medium | — | — |
| 7 Aug 2026 · CDSL Q1 FY27 earnings call transcript: standalone profit dips 5% YoY | investor communications | medium | — | — |
| 5 Aug 2026 · CDSL to attend Emkay Confluence 2026 analyst meet in Mumbai | board shareholder meetings | low | — | — |
| Where a broker report shows | This document shows | Why |
|---|
| COMPUTER AGE MNGT SER LTD |
| 17,647 |
| 18.4 |
| 13.36 |
| 24.0 |
| 35.7 |
| 43.8 |
| 16.5 |
| 50.5 |
| KFIN TECHNOLOGIES LIMITED | 15,555 | 45.4 | 9.30 | 27.7 | 20.5 | 18.7 | — | 37.1 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 60.3 | 20.3 | 60 of 62 | 3% |
| P/B | 14.2 | 3.0 | 57 of 65 | 13% |
| ROCE | 29.9 | 16.0 | 7 of 33 | 81% |
| ROE | 22.7 | 11.4 | 16 of 65 | 77% |
| Debt / Equity | 0.0 | 0.0 | 1 of 65 | 33% |
| EBITDA margin | 63.4 | 45.7 | 20 of 64 | 70% |
| Revenue growth | 13.1 | 23.1 | 39 of 58 | 33% |
| Profit growth | 14.9 | 17.6 | 35 of 61 | 43% |
| Market cap | 28424 | 990 | 12 of 69 | 84% |
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
