CDSL

Central Depository Services (India) Limited

Securities depository offering dematerialized account services and market infrastructure

Financial Services›Financial Services›Capital Markets›Depositories, Clearing Houses and Other Intermediaries

cdslindia.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹1286.90
Market cap
26,908 Cr
Stock P/E
57.1
P/B
13.72
Dividend yield
1.0%
ROE (FY26)
22.8%
ROCE (FY26)
30.4%
Operating margin (FY26)
45.4%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

CDSL (Central Depository Services (India)) runs a securities depository that holds investors' securities in electronic (demat) form and serves depository participants and listed issuers, with 18.59 crore demat accounts on its platform as of 30 June 2026.

Company snapshot

1stBy market cap

Ranked among 3 companies in Depositories, Clearing Houses and Other Intermediaries.

Segment mix

Reportable segments as of 2024-12-31 (Consolidated). Revenue share = segment revenue ÷ total revenue.

Largest segment: 79.5% of revenue

SegmentRevenue shareRevenuePBTAssets
Data Entry and Storage
20.3%
57 Cr29 Cr90 Cr
Depository Activity
79.5%
221 Cr121 Cr455 Cr
Repository
0.2%
0.60 Cr-2 Cr5 Cr

What we see

Positives
  • ✓Net margin of 39.7% — the business keeps a healthy share of every rupee it earns.
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Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales207 Cr214 Cr241 Cr257 Cr322 Cr278 Cr224 Cr259 Cr319 Cr304 Cr263 Cr293 Cr
Operating expenses (approx.)78 Cr83 Cr93 Cr103 Cr122 Cr117 Cr115 Cr128 Cr141 Cr143 Cr146 Cr155 Cr
EBITDA129 Cr131 Cr148 Cr154 Cr200 Cr161 Cr109 Cr130 Cr178 Cr161 Cr117 Cr138 Cr
OPM %62.4%61.3%61.4%60.0%62.0%57.8%48.7%50.4%55.7%52.9%44.4%47.1%
Other income23 Cr21 Cr27 Cr30 Cr36 Cr20 Cr31 Cr36 Cr22 Cr29 Cr6 Cr48 Cr
Interest0.03 Cr0.03 Cr0.02 Cr0.02 Cr0.02 Cr0.01 Cr0.05 Cr0.05 Cr0.04 Cr0.04 Cr0.04 Cr0.04 Cr
Depreciation6 Cr7 Cr8 Cr10 Cr12 Cr13 Cr14 Cr15 Cr16 Cr17 Cr18 Cr19 Cr
Profit before tax145 Cr145 Cr168 Cr175 Cr225 Cr168 Cr127 Cr151 Cr183 Cr172 Cr103 Cr167 Cr
Tax %24.7%25.9%23.2%23.2%27.9%22.9%21.1%32.3%23.4%22.7%22.7%29.4%
Net profit109 Cr107 Cr129 Cr134 Cr162 Cr130 Cr100 Cr102 Cr140 Cr133 Cr80 Cr118 Cr
EPS (₹)₹10.42₹10.28₹12.37₹12.84₹7.75₹6.23₹4.80₹4.90₹6.71₹6.38₹3.84₹5.62

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales146 Cr191 Cr195 Cr225 Cr344 Cr551 Cr555 Cr812 Cr1,082 Cr1,145 CrSign in free for the trailing twelve months
Operating expenses (approx.)67 Cr77 Cr86 Cr136 Cr132 Cr184 Cr232 Cr323 Cr458 Cr559 CrSign in free for the trailing twelve months
EBITDA79 Cr114 Cr109 Cr89 Cr212 Cr367 Cr323 Cr489 Cr624 Cr586 CrSign in free for the trailing twelve months
OPM %54.4%59.5%56.0%39.6%61.6%66.5%58.3%60.3%57.7%51.2%Sign in free for the trailing twelve months
Other income41 Cr35 Cr49 Cr59 Cr57 Cr55 Cr66 Cr95 Cr117 Cr94 CrSign in free for the trailing twelve months
Interest——0 Cr0.03 Cr0.02 Cr0.0099 Cr0.13 Cr0.11 Cr0.10 Cr0.17 CrSign in free for the trailing twelve months
Depreciation4 Cr7 Cr10 Cr12 Cr9 Cr11 Cr19 Cr27 Cr49 Cr66 CrSign in free for the trailing twelve months
Profit before tax117 Cr141 Cr148 Cr136 Cr260 Cr409 Cr365 Cr556 Cr695 Cr609 CrSign in free for the trailing twelve months
Tax %25.7%26.7%22.5%21.8%22.4%23.7%24.4%24.5%24.3%25.3%Sign in free for the trailing twelve months
Net profit87 Cr104 Cr115 Cr107 Cr201 Cr312 Cr276 Cr420 Cr526 Cr455 CrSign in free for the trailing twelve months
EPS (₹)₹8.21₹9.87₹10.86₹10.16₹19.17₹29.78₹26.41₹40.11₹25.20₹21.82Sign in free for the trailing twelve months
Dividend payout %————23.4%30.2%56.8%39.9%43.7%57.4%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital105 Cr105 Cr105 Cr105 Cr105 Cr105 Cr105 Cr105 Cr209 Cr209 Cr
Reserves429 Cr494 Cr564 Cr619 Cr773 Cr988 Cr1,109 Cr1,359 Cr1,551 Cr1,751 Cr
Borrowings——————————
Other liabilities58 Cr79 Cr74 Cr97 Cr207 Cr233 Cr200 Cr274 Cr358 Cr417 Cr
Total liabilities607 Cr693 Cr784 Cr863 Cr1,084 Cr1,326 Cr1,457 Cr1,782 Cr2,162 Cr2,419 Cr
Fixed assets (net)5 Cr75 Cr73 Cr72 Cr——100 Cr314 Cr404 Cr464 Cr
CWIP——————173 Cr0 Cr7 Cr6 Cr
Investments503 Cr517 Cr593 Cr665 Cr——937 Cr1,149 Cr1,351 Cr1,487 Cr
Loans & advances——————0.06 Cr0.05 Cr0.08 Cr0.05 Cr
Trade receivables13 Cr19 Cr19 Cr26 Cr——38 Cr67 Cr53 Cr65 Cr
Cash & bank31 Cr6 Cr5 Cr4 Cr——50 Cr18 Cr32 Cr51 Cr
Other assets55 Cr76 Cr94 Cr97 Cr1,084 Cr1,326 Cr159 Cr233 Cr314 Cr347 Cr
Total assets607 Cr693 Cr784 Cr863 Cr1,084 Cr1,326 Cr1,457 Cr1,782 Cr2,162 Cr2,419 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity43 Cr79 Cr86 Cr82 Cr193 Cr283 Cr249 Cr386 Cr543 Cr467 Cr
Cash from investing18 Cr-67 Cr-67 Cr-33 Cr-107 Cr-145 Cr-129 Cr-249 Cr-298 Cr-185 Cr
Cash from financing-31 Cr-38 Cr-20 Cr-51 Cr-47 Cr-94 Cr-155 Cr-169 Cr-231 Cr-262 Cr
Net cash flow29 Cr-26 Cr-1 Cr-1 Cr38 Cr44 Cr-35 Cr-32 Cr14 Cr19 Cr
Free cash flow (OCF − Capex)38 Cr3 Cr74 Cr72 Cr174 Cr257 Cr40 Cr312 Cr387 Cr346 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %21.2%23.0%20.9%17.8%29.6%37.4%29.1%36.9%38.5%30.4%
ROE %15.6%16.8%16.2%13.9%22.8%28.5%21.9%27.8%29.2%22.8%
Debtor days33363642——25301821
Inventory days——————0000
Days payable2225720——13131217
Cash conversion cycle11112923——121754
Debt / equity——————————
Current ratio5.323.042.845.17——3.673.393.482.92
Net debt / EBITDA-0.40-0.05——0.000.00-0.16-0.04-0.05-0.09