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50% Buy 👍 Sector logoNBFC
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Shareholding Info
  • Promoters
    15 %
  • Foreign institutions-FII
    7.92 %
  • Other domestic institutions
    17.72 %
  • Retail and other
    47.87 %
  • Mutual Funds
    11.49 %

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About Central Depo


Central Depository Services Limited (CDSL), India’s first and only listed depository, is a Market Infrastructure Institution (MII) and a crucial part of the capital market structure. It serves all the market participants, including exchanges, depository participants, clearing corporations, and issuers and investors. In 2019, CDSL became India’s largest depository in terms of active demat accounts and has over seven crore of them. Since its inception in 1999, CDSL has had one clear goal, to provide convenient, dependable and secured depository services. Over two decades later, all their activities have been in support of that specific goal, while simultaneously keeping costs affordable.

Core Activities & Products


CDSL’s primary function is that it enables holding and transacting in securities such as shares, bonds, etc., in an electronic format and promotes settlement of trades on stock exchanges. The company also provides secure and reliable depository services. Its primary market is the Bombay Stock Exchange (BSE).

Board of Directors

  • Balkrishna V. Chaubal: Chairperson
  • Nehal Vora: Managing Director & Chief Executive Officer
  • Prof. (Dr.) Bimal kumar N Patel: Public Interest Director
  • Smt. Preeti Saran: Public Interest Director
  • Sidhartha Pradhan: Public Interest Director
  • Prof. Umesh Bellur: Public Interest Director
  • Nayan C. Mehta: Shareholder Director
  • Masil Jeya Mohan P.: Shareholder Director

Management Team


  • Shri Nehal Vora: Managing Director & Chief Executive Officer
  • Shri Amit Mahajan: Chief Technology Officer
  • Smt Nayana Ovalekar: Chief Regulatory Officer
  • Shri Girish Amesara: Chief Financial Officer
  • Shri Ramkumar K.: Chief of Business and Operations

Presence


Registered Office: 805, Indraprakash
Building 21,
Barakhamba Road
Connaught Place
New Delhi 110001
India 

Strengths:


The strengths of the company that have affected the CDSL share price are:
  1. Shares held with the CDSL are in an electronic format which helps in mitigating the risk of theft, loss or damage, as physical certificates are prone to such risks.
  2. The authenticity of the security purchases are secured for the investor, thus, eliminating the risk of bad delivery.
  3. Securities are transferred to the investor’s account in real-time, as soon as the payment is made to the company. There is no wait time.
  4. Stock exchanges follow the T+2 rolling settlement cycle, wherein trades are settled on the 2nd working day from the trade, allows for a swift transfer of securities and ensures liquidity.
  5. Electronic transfers of securities do not require any stamp duty payment.
  6. Ease of updating information - An investor can update all details for companies they have a vested interest in, with a single standing instruction to the CDSL.
  7. Bonus or rights issue of shares can be directly credited into the investors accounts.
  8. The company sends a consolidated statement of all holdings to its investors which allows them to make informed decisions.
  9. Investors have access to real-time information about the listed company and can track changes related to securities or stocks.

CSR and Sustainability


CDSL strives to enrich healthier and happier lives for the people of India through its CSR activities, transparent ethical and social initiatives, and constant implementation of better corporate governance.
  • Arth (Financial Literacy and Inclusion): A CSR initiative by CDSL, Arth strives to make financial education uncomplicated and easily accessible to all. The online academy want to bring attention to personal finance and savings to 18-25 year olds in tier II and III cities and first time women investors, making it simple for all to undertand.
  • Relief Initiatives: In the fight against COVID-19, the company has contributed toward the vaccination drive for the public. The company has also contributed towards Prime Minister’s National Relief Fund (PMNRF) which provides relief to the public in emergency situations.


Criticism


While there hasn’t been much criticism about the enterprise, there has been concerns about security vulnerabilities that lead to identity theft and monetary losses, and technological issues, given that transactions are digital. This was witnessed in October 2021, when individual investors were unable to execute ‘sell’ orders during early trade due to a technical issue with the CDSL. The company also has to undergo many levels of regulatory frameworks like the Depositories Act, its regulations and more. Finally, there are many people residing in rural areas who still hold physical certificates and are not aware of this technology.

COVID-19 Impact


During the COVID-19 lockdown, CDSL employees were enabled to Work from Home (WFH) in order to not dirupt the workflow. There were no issues with catering to the needs of their various stakeholders, DPs, RTAs and others due to the centralized system and technology.

Future Prospects


The last two years have been tremendous in terms of growth for the industry as a lot of new investors came on board, due to the shift to work from home during the pandemic, attractive equity market returns, a record number of IPO’s and low interest rates. The increase in accounts give a two-way benefit for the depositories, including a high number of transactions as well as online data charges which leads to more revenue. Furthermore, the underpenetrated Indian capital market provides long-term opportunities for business growth.

Did You Know!


  1. As of August 2022, CDSL is the first depository in India to reach 7 crore Demat accounts.
  2. The Top 5 Shareholders of CDSL include: BSE Ltd, HDFC Bank, Standard Chartered Bank, LIC and PPFAS MFs.
  3. CDSL is the First Depository to be listed in the Asia Pacific region.


Initial Public Offering


CDSLInitial Public Offering (IPO)was oversubscribed 1.01 times on the first day of issue, in June 2017. At the time, the price band for the shares were fixed at Rs 145-149. The share price opened at Rs 250 against the issue price of Rs 149, with 68% gains on the National Stock Exchange.

Equity Shares


The company is the top depository in India with more than 6.50 Crore demat accounts that have more than 56757 Crore securities that are valued at 37.17 Lakh Crores under their custody. Being the first depository to be listed in the country as well as just the second in the world, the company made an earning of Rs. 415 Crores in the FY 2021-22, increased by 53%. The net profit margin rose by 55% and the EBIDA margin rose by 72%. The CDSL stock price made a high of Rs. 1734 and the investors believe the stock to be bullish and see an increase of at least 30% in the next 9 months.

Annual Financial Summary


BALANCE SHEET OF CENTRAL DEPOSITORY SERVICES LTD (in Rs. Cr.)

MAR 22

MAR 21

MAR 20

MAR 19

MAR 18

12 mths

12 mths

12 mths

12 mths

12 mths

EQUITIES AND LIABILITIES

SHAREHOLDER'S FUNDS

Equity Share Capital

104.50

104.50

104.50

104.50

104.50

TOTAL SHARE CAPITAL

104.50

104.50

104.50

104.50

104.50

Reserves and Surplus

745.63

578.09

465.11

438.03

397.75

TOTAL RESERVES AND SURPLUS

745.63

578.09

465.11

438.03

397.75

TOTAL SHAREHOLDERS FUNDS

850.13

682.59

569.61

542.53

502.25

NON-CURRENT LIABILITIES

Long Term Borrowings

0.00

0.00

0.00

0.00

0.00

Deferred Tax Liabilities [Net]

3.74

0.76

0.00

0.00

0.00

Other Long Term Liabilities

1.62

1.54

1.17

0.96

0.76

Long Term Provisions

5.38

1.04

2.73

0.00

0.00

TOTAL NON-CURRENT LIABILITIES

10.74

3.33

3.90

0.96

0.76

CURRENT LIABILITIES

Short Term Borrowings

0.00

0.00

0.00

0.00

0.00

Trade Payables

8.19

7.42

5.54

2.06

10.63

Other Current Liabilities

138.85

125.92

59.21

57.41

50.91

Short Term Provisions

18.62

14.18

15.50

9.64

8.74

TOTAL CURRENT LIABILITIES

165.66

147.52

80.25

69.11

70.28

TOTAL CAPITAL AND LIABILITIES

1,026.52

833.44

653.75

612.60

573.28

ASSETS

NON-CURRENT ASSETS

Tangible Assets

106.56

67.48

70.71

70.33

74.16

Intangible Assets

0.00

3.46

1.31

1.89

0.62

Capital Work-In-Progress

0.00

10.06

0.00

0.00

0.00

Other Assets

0.00

0.00

0.00

0.00

0.00

FIXED ASSETS

106.56

93.72

72.03

72.22

74.79

Non-Current Investments

141.15

203.72

290.51

429.29

365.85

Deferred Tax Assets [Net]

0.00

0.00

1.00

3.45

3.22

Long Term Loans And Advances

0.04

0.05

0.12

0.07

0.10

Other Non-Current Assets

19.16

12.53

11.21

19.65

13.67

TOTAL NON-CURRENT ASSETS

266.90

310.03

374.86

524.69

457.63

CURRENT ASSETS

Current Investments

575.38

372.43

233.92

53.14

62.72

Inventories

0.00

0.00

0.00

0.00

0.00

Trade Receivables

27.75

10.36

12.03

8.80

11.31

Cash And Cash Equivalents

126.00

114.17

23.85

17.84

30.81

Short Term Loans And Advances

0.05

0.07

0.11

0.12

0.10

OtherCurrentAssets

30.45

26.39

8.98

8.02

10.71

TOTAL CURRENT ASSETS

759.62

523.41

278.89

87.91

115.66

TOTAL ASSETS

1,026.52

833.44

653.75

612.60

573.28

OTHER ADDITIONAL INFORMATION

CONTINGENT LIABILITIES, COMMITMENTS

Contingent Liabilities

0.00

7.63

0.99

42.54

43.74

CIF VALUE OF IMPORTS

Raw Materials

0.00

0.00

0.00

0.00

0.00

Stores, Spares And Loose Tools

0.00

0.00

0.00

0.00

0.00

Trade/Other Goods

0.00

0.00

0.00

0.00

0.00

Capital Goods

0.00

0.00

0.00

0.00

0.00

EXPENDITURE IN FOREIGN EXCHANGE

Expenditure In Foreign Currency

0.00

0.04

0.30

0.75

0.27

REMITTANCES IN FOREIGN CURRENCIES FOR DIVIDENDS

Dividend Remittance In Foreign Currency

--

--

--

--

--

EARNINGS IN FOREIGN EXCHANGE

FOB Value Of Goods

--

--

--

--

--

Other Earnings

--

--

--

--

--

BONUS DETAILS

Bonus Equity Share Capital

--

--

--

--

--

NON-CURRENT INVESTMENTS

Non-Current Investments Quoted Market Value

--

138.13

225.46

363.99

276.55

Non-Current Investments Unquoted Book Value

--

3.28

2.74

3.01

3.01

CURRENT INVESTMENTS

Current Investments Quoted Market Value

--

69.11

159.98

--

--

Current Investments Unquoted Book Value

--

275.97

73.94

53.14

49.49

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