NSE: CDSL · ISIN INE736A01011
Central Depository Services (India) Limited stock analysis
Central Depository Services (India) Limited ranks #315 in the TickerSutra evidence-ranked universe with a score of 67/100 and 95% data confidence. The latest captured fundamentals show ROCE of 32.0%, quarterly sales growth of 13.1% and quarterly profit growth of 14.8%.Watchlist candidate
INVESTMENT EVIDENCE
What supports—and challenges—the thesis
Evidence in favour
- ROCE is 32%
- Low debt/equity of 0×
- Strong CFO/EBITDA of 0.8×
- 27.3% three-year sales CAGR
- CWIP indicates an active capacity pipeline
- No promoter shares are reported as pledged
Risks and constraints
- Promoter holding is below 25%
- Operating margin has compressed materially
- Valuation is above 40× earnings
Still unresolved: Related-party exposure · Broad media sentiment
FINANCIAL TRAJECTORY
Recent operating history
| Period | Revenue | Operating profit | Net profit | Operating margin |
|---|---|---|---|---|
| 2022 | ₹551cr | ₹365cr | ₹312cr | 66.0% |
| 2023 | ₹555cr | ₹319cr | ₹276cr | 57.0% |
| 2024 | ₹812cr | ₹488cr | ₹420cr | 60.0% |
| 2025 | ₹1,082cr | ₹625cr | ₹526cr | 58.0% |
| 2026 | ₹1,145cr | ₹582cr | ₹455cr | 51.0% |
| TTM | ₹1,179cr | ₹590cr | ₹470cr | 50.0% |
EXCHANGE EVENT TRIGGERS
Latest corporate disclosures
CDSL has informed the Exchange regarding resignation of Dr. Rakeshkumar Kakkar, Nominee Director of CDSL in CDSL Ventures Limited, material subsidiary of CDSL.
RoutineAnalyst/Investor Meet Para A-XBRLNSE · 22 Sept 2026 · Structured filingCentral Depository Services (India) Limited has informed the Exchange about Schedule of Analysts or Institutional Investors Meet
Central Depository Services (India) Limited has informed the Exchange about Schedule of Analysts or Institutional Investors Meet
Open original XBRL sourceCDSL has informed the Exchange about the modification in the Analyst call with Dymon Asia Capital in reference to our earlier intimation.
RoutineChange in Directors/KMP/SMP/Auditor/RTANSE · 22 Sept 2026CENTRAL DEPOSITORY SERVICES (INDIA) LIMITED has informed the Exchange about Change in Directors/KMP/SMP/Auditor/RTA
RoutineAnalyst/Investor Meet Para A-XBRLNSE · 21 Sept 2026 · Structured filingCentral Depository Services (India) Limited has informed the Exchange about Schedule of Analysts or Institutional Investors Meet
Central Depository Services (India) Limited has informed the Exchange about Schedule of Analysts or Institutional Investors Meet
Open original XBRL sourceMANAGEMENT COMMENTARY
Signals from filed documents
The shareholders' approval happened after SEBI had given the approvals to CDSL. These appointments are expected to further strengthen the leadership across our operations, technology, regulatory, compliance, risk management and investor -facing functions. We were also honored to receive several recognitions during the quarter, includin g being named as the most innovative fintech company in Asia Pacific by Global Fin
So is it fair to think that we are closer to now peeking out at our investments in this piece. And from here on, it will be more of an inflationary spend and that would allow us to see operating leverage benefits coming out. Nehal Vora: So, I think being as a part of the overall ecosystem, you are part of Motilal Oswal.
HOW TO READ THIS PAGE
Evidence, freshness and limitations
What does the TickerSutra score mean?
The score ranks captured evidence across financial quality, growth, moat and margins, regulatory catalysts, governance, institutional trend and valuation comfort. It is a research-prioritization tool—not a buy recommendation or price target.
Which sources support this page?
Financial history, ownership and pledge data, NSE and BSE filings, annual reports and available earnings-call transcripts are combined here. Use the source trail and original exchange document before relying on a decision-critical fact.
Why can an item be unresolved?
Unresolved means the current captured source window did not provide enough evidence for that check. It does not establish that a risk or relationship is absent.
Maintained by TickerSutra Research · Snapshot updated 29 Sept 2026 · Read the methodology · Read the disclaimer
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