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Central Depository Services (India) Limited

ISIN : INE736A01011
NSE : CDSL
Face Value : 10
Industry : Finance - NBFC

EPS : 40.11
EPS (TTM) : 43.24
Price to Earning (P/E) : 30.42
Book Value : 140.03
Price to Bookvalue (P/B) : 8.71
Dividend Yield : 3 %
Return on Equity (ROE) : 31.34 %
Return on Capital Employed (ROCE) : 41.55 %

Central Depository share price (28-Mar-2025)
National Stock Exchange NSE
Open / Close	1206.4 - 1220.05 1.1 %
Low / High	1206.4 - 1259.8 4.4 %
Trade Volume	1.16 Cr
52 Week Low / High	0 - 0 NAN %

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Consolidated Standalone

CONSOLIDATED QUARTERLY RESULT FOR CENTRAL DEPOSITORY SERVICES (INDIA) LIMITED

Date End	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
No of months	3 months	3 months	3 months	3 months	3 months	3 months	3 months	3 months	3 months	3 months
Net Sales	1401.83	1489.48	1411.92	1247.65	1496.81	2073.14	2144.79	2407.82	2573.88	3222.64
Total Income	1463.04	1699.38	1608.74	1438.18	1738.59	2301.17	2359.59	2673.69	2868.97	3585.13
Total Expenditure	646.1	559.11	559.85	552.37	690.04	779.44	830.27	928.9	1029.47	1224.64
Other Income	61.21	209.91	196.82	190.53	241.78	228.03	214.8	265.87	295.09	362.49
Operating Profit	816.94	1140.27	1048.89	885.81	1048.55	1521.73	1529.32	1744.79	1839.5	2360.49
Interest	0.21	0.41	0.37	0.34	0.31	0.31	0.27	0.22	0.19	0.16
PBDT	816.73	1139.86	1048.52	885.47	1048.24	1521.42	1529.05	1744.57	1839.31	2360.33
Depreciation	41.86	48.91	49.37	54.67	58.27	64.94	68.99	80.14	98.02	119.29
Profit Before Tax	774.87	1090.95	999.15	830.8	989.97	1456.48	1460.06	1664.43	1741.29	2241.04
Tax	189.78	269.15	245.64	187.37	241.79	357.78	375.15	389.86	404.63	627.32
Profit After Tax	585.09	821.8	753.51	643.43	748.18	1098.7	1084.91	1274.57	1336.66	1613.72
Net Profit	585.09	821.8	753.51	643.43	748.18	1098.7	1084.91	1274.57	1336.66	1613.72
Equity Capital	1045	1045	1045	1045	1045	1045	1045	1045	1045	2090
Face Value (IN RS)	10	10	10	10	10	10	10	10	10	10
Calculated EPS	5.53	7.69	7.14	6.04	7.04	10.42	10.28	12.37	12.84	7.75
Diluted Eps After Extraordinary Items	5.53	7.69	7.14	6.04	7.04	10.42	10.28	12.37	12.84	7.75
Diluted Eps Before Extraordinary Items	5.53	7.69	7.14	6.04	7.04	10.42	10.28	12.37	12.84	7.75

STANDALONE QUARTERLY RESULT FOR CENTRAL DEPOSITORY SERVICES (INDIA) LIMITED

Date End	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
No of months	3 months	3 months	3 months	3 months	3 months	3 months	3 months	3 months	3 months	3 months
Net Sales	1117.58	1228.04	1177.46	982.91	1225.39	1637.62	1695.72	1850.84	1978.9	2478.15
Total Income	1578.12	1405.39	1329.4	1126.88	1704.11	1819.3	1858.39	2047.1	2207.25	3239.83
Total Expenditure	503.77	453.12	457.14	422.19	534.34	605.34	641.82	707.1	761.82	929.94
Other Income	460.54	177.35	151.95	143.97	478.72	181.68	162.67	196.26	228.35	761.68
Operating Profit	1074.35	952.27	872.26	704.69	1169.77	1213.96	1216.57	1340	1445.43	2309.89
Interest	0.01	0.02	0.01	0.01	0.02	0.06	0.05	0.05	0.06	0.05
PBDT	1074.34	952.25	872.25	704.68	1169.75	1213.9	1216.52	1339.95	1445.37	2309.84
Depreciation	35.04	40.89	40.36	42.35	44.96	49.96	53.11	64.16	81.16	99.67
Profit Before Tax	1039.3	911.36	831.89	662.33	1124.79	1163.94	1163.41	1275.79	1364.21	2210.17
Tax	148.25	225.31	204.75	145.76	202.43	284.64	306.17	301.5	311.71	498.65
Profit After Tax	891.05	686.05	627.14	516.57	922.36	879.3	857.24	974.29	1052.5	1711.52
Net Profit	891.05	686.05	627.14	516.57	922.36	879.3	857.24	974.29	1052.5	1711.52
Equity Capital	1045	1045	1045	1045	1045	1045	1045	1045	1045	2090
Face Value (IN RS)	10	10	10	10	10	10	10	10	10	10
Calculated EPS	8.53	6.57	6	4.94	8.83	8.41	8.2	9.32	10.07	8.19
Diluted Eps After Extraordinary Items	8.53	6.57	6	4.94	8.83	8.41	8.2	9.32	10.07	8.19
Diluted Eps Before Extraordinary Items	8.53	6.57	6	4.94	8.83	8.41	8.2	9.32	10.07	8.19

Consolidated Standalone

CONSOLIDATED ANNUAL RESULT FOR CENTRAL DEPOSITORY SERVICES (INDIA) LIMITED

Date End	Mar 2022	Mar 2023	Mar 2024
No of months	12 months	12 months	12 months
Net Sales	5513.31	5550.87	8122.57
Total Income	6059	6209.35	9073.04
Total Expenditure	1844.68	2317.44	3228.65
Other Income	545.69	658.48	950.47
Operating Profit	4214.32	3891.91	5844.39
Interest	0.1	1.34	1.1
PBDT	4214.22	3890.57	5843.29
Depreciation	114.63	194.8	272.34
Profit Before Tax	4099.59	3695.77	5570.95
Tax	967.39	891.94	1364.58
Profit After Tax	3132.2	2803.83	4206.37
Net Profit	3132.2	2803.83	4206.37
Equity Capital	1045	1045	1045
Face Value (IN RS)	10	10	10
Reserves	9884.18	11092.3	13588.4
Calculated EPS	29.78	26.41	40.11
Diluted Eps After Extraordinary Items	29.78	26.41	40.11
Diluted Eps Before Extraordinary Items	29.78	26.41	40.11

STANDALONE ANNUAL RESULT FOR CENTRAL DEPOSITORY SERVICES (INDIA) LIMITED

Date End	Mar 2022	Mar 2023	Mar 2024
No of months	12 months	12 months	12 months
Net Sales	4148.03	4506	6409.57
Total Income	4801.31	5440.68	7428.9
Total Expenditure	1326.76	1837.09	2488.59
Other Income	653.28	934.68	1019.33
Operating Profit	3474.55	3603.59	4940.31
Interest	0.08	0.06	0.17
PBDT	3474.47	3603.53	4940.14
Depreciation	101	158.63	212.19
Profit Before Tax	3373.47	3444.9	4727.95
Tax	735.84	724.07	1094.75
Profit After Tax	2637.63	2720.83	3633.2
Net Profit	2637.63	2720.83	3633.2
Equity Capital	1045	1045	1045
Face Value (IN RS)	10	10	10
Reserves	7456.27	8613.55	10553.8
Calculated EPS	25.24	26.04	34.77
Diluted Eps After Extraordinary Items	25.24	26.04	34.77
Diluted Eps Before Extraordinary Items	25.24	26.04	34.77

Consolidated Standalone

CONSOLIDATED PROFIT / LOSS FOR CENTRAL DEPOSITORY SERVICES (INDIA) LIMITED

YEAR	Mar 2021	Mar 2022	Mar 2023	Mar 2024
No of Months	12 months	12 months	12 months	12 months
Operating Income	343.72 Cr	551.33 Cr	555.09 Cr	812.26 Cr
Processing fees and other charges	340.06 Cr	546.85 Cr	548.12 Cr	0
Operating Income (Net)	343.72 Cr	551.33 Cr	555.09 Cr	812.26 Cr
Employee Cost	41.33 Cr	50.55 Cr	80.99 Cr	96.43 Cr
Salaries, Wages & Bonus	37.09 Cr	45.32 Cr	73.76 Cr	86.54 Cr
Contributions to EPF & Pension Funds	3.25 Cr	3.58 Cr	4.69 Cr	5.69 Cr
Workmen and Staff Welfare Expenses	99.72 Lk	1.65 Cr	2.55 Cr	4.2 Cr
Operating & Establishment Expenses	30.83 Cr	41.87 Cr	59.99 Cr	53.99 Lk
Depository Charges	11.37 Lk	11.41 Lk	17.7 Lk	0
Software & Technical expenses	19.32 Cr	27.63 Cr	38.4 Cr	0
Commission, Brokerage & Discounts	4.37 Cr	5.86 Cr	9.67 Cr	13.61 Cr
Rent , Rates & Taxes	2.33 Cr	2.39 Cr	3.08 Cr	3.89 Cr
Repairs and Maintenance	1.37 Cr	1.75 Cr	2.68 Cr	0
Insurance	75.41 Lk	90.29 Lk	94.89 Lk	1.35 Cr
Electricity & Power	50.55 Lk	54.8 Lk	98.83 Lk	1.15 Cr
Administrations & Other Expenses	23.69 Cr	65.42 Cr	62.93 Cr	167.44 Cr
Printing and stationery	2.81 Lk	10.35 Lk	17.7 Lk	63.66 Cr
Professional and legal fees	4.88 Cr	4.68 Cr	10.52 Cr	18.49 Cr
Advertisement & Sales Promotion	0	1.27 Cr	2.42 Cr	4.18 Cr
Provisions and Contingencies	36.03 Cr	26.63 Cr	27.83 Cr	39.39 Cr
Bad debts /advances written off	7.16 Cr	7.38 Cr	5.09 Cr	0
Provision for doubtful debts	0	4.06 Lk	2 Cr	8.04 Cr
Loss on foreign exchange fluctuations	0	88,000	0	0
Total Expenditure	131.89 Cr	184.47 Cr	231.74 Cr	322.86 Cr
Other Income	56.92 Cr	54.57 Cr	65.85 Cr	95.05 Cr
Other Interest Income	17.37 Cr	15.42 Cr	25.26 Cr	0
Profit on sale of Fixed Assets	0	20.06 Lk	28.8 Lk	6.38 Lk
Income from investments	38.22 Cr	31.65 Cr	34.27 Cr	53.45 Cr
Provision Written Back	45 Lk	2.1 Cr	0	1.53 Lk
Operating Profit	268.75 Cr	421.43 Cr	389.19 Cr	584.44 Cr
Interest	2.3 Lk	99,000	13.35 Lk	11.01 Lk
Depreciation	9.2 Cr	11.46 Cr	19.48 Cr	27.23 Cr
Profit Before Taxation & Exceptional Items	259.52 Cr	409.96 Cr	369.58 Cr	557.1 Cr
Profit Before Tax	259.52 Cr	409.96 Cr	365.15 Cr	556.01 Cr
Provision for Tax	58.26 Cr	96.74 Cr	89.19 Cr	136.46 Cr
Current Income Tax	56.93 Cr	96.76 Cr	92.6 Cr	123.33 Cr
Deferred Tax	1.32 Cr	4.38 Cr	-1.38 Cr	14.72 Cr
Profit After Tax	201.27 Cr	313.22 Cr	275.96 Cr	419.55 Cr
Minority Interest	-92.68 Lk	-62.69 Lk	-2.11 Lk	-44.83 Lk
Share of Associate	0	-1.41 Cr	0	0
Consolidated Net Profit	200.34 Cr	311.18 Cr	275.94 Cr	419.11 Cr
Profit Balance B/F	608.13 Cr	761.45 Cr	978.58 Cr	1097.77 Cr
Appropriations	808.47 Cr	1072.63 Cr	1254.52 Cr	1516.88 Cr
Equity Dividend %	90	150	160	220
Earnings Per Share	19.17	29.78	26.41	40.11
Adjusted EPS	19.17	29.78	26.41	40.11

STANDALONE PROFIT / LOSS FOR CENTRAL DEPOSITORY SERVICES (INDIA) LIMITED

YEAR	Mar 2021	Mar 2022	Mar 2023	Mar 2024
No of Months	12 months	12 months	12 months	12 months
Operating Income	270.58 Cr	414.8 Cr	450.6 Cr	640.96 Cr
Processing fees and other charges	265.44 Cr	409.05 Cr	447.12 Cr	0
Operating Income (Net)	270.58 Cr	414.8 Cr	450.6 Cr	640.96 Cr
Employee Cost	34.19 Cr	41.05 Cr	68.56 Cr	80.22 Cr
Salaries, Wages & Bonus	30.4 Cr	36.63 Cr	62.4 Cr	71.76 Cr
Contributions to EPF & Pension Funds	2.85 Cr	2.96 Cr	3.96 Cr	4.76 Cr
Workmen and Staff Welfare Expenses	94.29 Lk	1.47 Cr	2.2 Cr	3.71 Cr
Operating & Establishment Expenses	27.85 Cr	38.2 Cr	53.08 Cr	8.91 Cr
Depository Charges	11.37 Lk	11.41 Lk	17.7 Lk	0
Software & Technical expenses	17.1 Cr	24.68 Cr	33.25 Cr	0
Commission, Brokerage & Discounts	4.37 Cr	5.86 Cr	9.67 Cr	13.61 Cr
Rent , Rates & Taxes	1.88 Cr	2.04 Cr	2.59 Cr	3.12 Cr
Repairs and Maintenance	1.28 Cr	1.6 Cr	1.93 Cr	0
Insurance	54.12 Lk	70.82 Lk	80.71 Lk	1.18 Cr
Electricity & Power	50.55 Lk	51.79 Lk	61.77 Lk	68.94 Lk
Administrations & Other Expenses	16.16 Cr	28.19 Cr	35.85 Cr	103.95 Cr
Printing and stationery	1.8 Lk	8.63 Lk	13.43 Lk	53.2 Cr
Professional and legal fees	3.78 Cr	3.31 Cr	9.33 Cr	16.87 Cr
Advertisement & Sales Promotion	1.05 Cr	1.32 Cr	2.45 Cr	4.21 Cr
Provisions and Contingencies	20.47 Cr	25.24 Cr	26.22 Cr	37.27 Cr
Bad debts /advances written off	7.14 Cr	7.3 Cr	5.02 Cr	0
Provision for doubtful debts	0	4.72 Lk	1.98 Cr	7.96 Cr
Total Expenditure	98.67 Cr	132.68 Cr	183.71 Cr	248.86 Cr
Other Income	41.77 Cr	65.33 Cr	93.47 Cr	101.93 Cr
Other Interest Income	11.11 Cr	10.88 Cr	17.03 Cr	0
Profit on sale of Fixed Assets	0	17.56 Lk	19.91 Lk	6.38 Lk
Income from investments	26.5 Cr	45.39 Cr	65.67 Cr	41.2 Cr
Provision Written Back	45 Lk	0	0	0
Operating Profit	213.68 Cr	347.46 Cr	360.36 Cr	494.03 Cr
Interest	2.3 Lk	82,000	55,000	1.73 Lk
Depreciation	7.29 Cr	10.1 Cr	15.86 Cr	21.22 Cr
Profit Before Taxation & Exceptional Items	206.37 Cr	337.35 Cr	344.49 Cr	472.79 Cr
Profit Before Tax	206.37 Cr	337.35 Cr	344.49 Cr	472.79 Cr
Provision for Tax	46.31 Cr	73.58 Cr	72.41 Cr	109.48 Cr
Current Income Tax	44.54 Cr	73.81 Cr	75.93 Cr	96.67 Cr
Deferred Tax	1.77 Cr	3.71 Cr	-1.41 Cr	13.91 Cr
Profit After Tax	160.06 Cr	263.76 Cr	272.08 Cr	363.32 Cr
Consolidated Net Profit	160.06 Cr	263.76 Cr	272.08 Cr	363.32 Cr
Profit Balance B/F	453.69 Cr	566.73 Cr	736.44 Cr	851.77 Cr
Appropriations	613.75 Cr	830.49 Cr	1008.52 Cr	1215.09 Cr
Equity Dividend %	90	150	160	220
Earnings Per Share	15.32	25.24	26.04	34.77
Adjusted EPS	15.32	25.24	26.04	34.77

Consolidated Standalone

CONSOLIDATED CASH FLOW FOR CENTRAL DEPOSITORY SERVICES (INDIA) LIMITED

Year End	Mar 2021	Mar 2022	Mar 2023	Mar 2024
No of Months	12 months	12 months	12 months	12 months
Profit Before Tax	259.52 Cr	408.55 Cr	365.15 Cr	556.01 Cr
Adjustment	-40.19 Cr	-30.88 Cr	-28.52 Cr	-53.67 Cr
Changes In working Capital	31.16 Cr	5 Cr	5.35 Cr	-2.76 Cr
Cash Flow after changes in Working Capital	250.49 Cr	382.67 Cr	341.99 Cr	499.58 Cr
Cash Flow from Operating Activities	192.56 Cr	282.5 Cr	248.82 Cr	385.94 Cr
Cash Flow from Investing Activities	-107.23 Cr	-144.62 Cr	-129.25 Cr	-249.24 Cr
Cash Flow from Financing Activitie	-47.16 Cr	-94.18 Cr	-154.8 Cr	-168.58 Cr
Net Cash Inflow / Outflow	38.17 Cr	43.7 Cr	-35.23 Cr	-31.88 Cr
Opening Cash & Cash Equivalents	3.72 Cr	41.89 Cr	85.59 Cr	50.36 Cr
Closing Cash & Cash Equivalent	41.89 Cr	85.59 Cr	50.36 Cr	18.48 Cr

STANDALONE CASH FLOW FOR CENTRAL DEPOSITORY SERVICES (INDIA) LIMITED

Year End	Mar 2021	Mar 2022	Mar 2023	Mar 2024
No of Months	12 months	12 months	12 months	12 months
Profit Before Tax	206.37 Cr	337.35 Cr	344.49 Cr	472.79 Cr
Adjustment	-24.64 Cr	-40.65 Cr	-60.23 Cr	-64.5 Cr
Changes In working Capital	31.78 Cr	14.91 Cr	-1.88 Cr	15.22 Cr
Cash Flow after changes in Working Capital	213.5 Cr	311.6 Cr	282.38 Cr	423.51 Cr
Cash Flow from Operating Activities	168.88 Cr	231.88 Cr	206.57 Cr	334.3 Cr
Cash Flow from Investing Activities	-82.39 Cr	-113.72 Cr	-67.4 Cr	-204.33 Cr
Cash Flow from Financing Activitie	-47.16 Cr	-94.1 Cr	-156.77 Cr	-167.31 Cr
Net Cash Inflow / Outflow	39.32 Cr	24.07 Cr	-17.61 Cr	-37.33 Cr
Opening Cash & Cash Equivalents	1.8 Cr	41.13 Cr	65.2 Cr	47.59 Cr
Closing Cash & Cash Equivalent	41.13 Cr	65.2 Cr	47.59 Cr	10.26 Cr

Consolidated Standalone

CONSOLIDATED BALANCE SHEET FOR CENTRAL DEPOSITORY SERVICES (INDIA) LIMITED

YEAR	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Share Capital	104.5 Cr	104.5 Cr	104.5 Cr	104.5 Cr
Equity - Authorised	150 Cr	150 Cr	150 Cr	150 Cr
Equity - Issued	104.5 Cr	104.5 Cr	104.5 Cr	104.5 Cr
Equity Paid Up	104.5 Cr	104.5 Cr	104.5 Cr	104.5 Cr
Face Value	10	10	10	10
Total Reserves	772.72 Cr	988.42 Cr	1109.23 Cr	1358.84 Cr
Profit & Loss Account Balance	761.45 Cr	978.58 Cr	1097.77 Cr	1349.68 Cr
General Reserves	10.95 Cr	10.95 Cr	10.95 Cr	10.95 Cr
Reserve excluding Revaluation Reserve	772.72 Cr	988.42 Cr	1109.23 Cr	1358.84 Cr
Shareholder's Funds	877.22 Cr	1092.92 Cr	1213.73 Cr	1463.34 Cr
Minority Interest	42.78 Cr	43.38 Cr	43.41 Cr	43.84 Cr
Deferred Tax Assets / Liabilities	2.26 Cr	5.84 Cr	4.57 Cr	18.41 Cr
Deferred Tax Assets	10 Cr	11.99 Cr	15.69 Cr	15.05 Cr
Deferred Tax Liability	12.26 Cr	17.83 Cr	20.26 Cr	33.46 Cr
Other Long Term Liabilities	1.54 Cr	1.67 Cr	5.02 Cr	10.82 Cr
Long Term Provisions	1.04 Cr	277.35 Cr	342.18 Cr	4.94 Cr
Total Non-Current Liabilities	4.84 Cr	284.86 Cr	351.77 Cr	34.17 Cr
Trade Payables	12.7 Cr	12.42 Cr	19.62 Cr	28.04 Cr
Sundry Creditors	12.7 Cr	12.42 Cr	19.62 Cr	28.04 Cr
Other Current Liabilities	128 Cr	141.76 Cr	141.19 Cr	179.72 Cr
Advances received from customers	13.4 Cr	6.54 Cr	7.65 Cr	7.97 Cr
Short Term Provisions	18.44 Cr	119.74 Cr	129.41 Cr	32.29 Cr
Provision for Tax	2.97 Cr	100.48 Cr	108.4 Cr	5.51 Cr
Total Current Liabilities	159.14 Cr	273.92 Cr	290.22 Cr	240.05 Cr
Total Liabilities	1083.98 Cr	1695.09 Cr	1899.13 Cr	1781.4 Cr
Gross Block	116.88 Cr	159.86 Cr	192.76 Cr	432.68 Cr
Less: Accumulated Depreciation	43.45 Cr	53.69 Cr	68.17 Cr	91.15 Cr
Net Block	73.43 Cr	106.18 Cr	124.59 Cr	341.53 Cr
Capital Work in Progress	10.06 Cr	0	173.16 Cr	0
Non Current Investments	166.52 Cr	285.93 Cr	467.64 Cr	594.16 Cr
Long Term Investment	166.52 Cr	285.93 Cr	467.64 Cr	594.16 Cr
Quoted	163.24 Cr	252.48 Cr	278.37 Cr	313.36 Cr
Unquoted	3.28 Cr	33.46 Cr	189.28 Cr	280.8 Cr
Long Term Loans & Advances	10.8 Cr	288.4 Cr	356.55 Cr	16.07 Cr
Other Non Current Assets	5.02 Cr	5.19 Cr	13.82 Cr	27.24 Cr
Total Non-Current Assets	278.55 Cr	689.51 Cr	1136.9 Cr	982.82 Cr
Currents Investments	542.9 Cr	639.56 Cr	469.05 Cr	555.13 Cr
Quoted	118.54 Cr	109.01 Cr	61.51 Cr	26.17 Cr
Unquoted	3.28 Cr	33.46 Cr	189.28 Cr	280.8 Cr
Sundry Debtors	23.74 Cr	45.83 Cr	37.67 Cr	66.83 Cr
Debtors more than Six months	0	11.4 Cr	13.65 Cr	15.2 Cr
Debtors Others	35.07 Cr	45.78 Cr	37.37 Cr	66.56 Cr
Cash and Bank	207.68 Cr	205.85 Cr	123.51 Cr	52.86 Cr
Balances at Bank	207.68 Cr	205.85 Cr	123.51 Cr	52.86 Cr
Other Current Assets	16.35 Cr	15.29 Cr	20.21 Cr	29.02 Cr
Interest accrued on Investments	0	0	0	3.8 Cr
Interest accrued on Debentures	4.22 Cr	2.88 Cr	5.79 Cr	6.37 Cr
Prepaid Expenses	3.93 Cr	6.2 Cr	6.87 Cr	18.77 Cr
Short Term Loans and Advances	14.74 Cr	99.05 Cr	111.8 Cr	94.75 Cr
Advances recoverable in cash or in kind	14.22 Cr	30.02 Lk	2.75 Cr	2.17 Cr
Advance income tax and TDS	0	98.24 Cr	106.01 Cr	11.42 Cr
Total Current Assets	805.42 Cr	1005.58 Cr	762.23 Cr	798.58 Cr
Net Current Assets (Including Current Investments)	646.29 Cr	731.65 Cr	472.01 Cr	558.53 Cr
Total Assets	1083.98 Cr	1695.09 Cr	1899.13 Cr	1781.4 Cr
Contingent Liabilities	7.97 Cr	30.52 Cr	24.06 Cr	19.58 Cr
Book Value	83.94	104.59	116.15	140.03
Adjusted Book Value	83.94	104.59	116.15	140.03

STANDALONE BALANCE SHEET FOR CENTRAL DEPOSITORY SERVICES (INDIA) LIMITED

YEAR	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Share Capital	104.5 Cr	104.5 Cr	104.5 Cr	104.5 Cr
Equity - Authorised	150 Cr	150 Cr	150 Cr	150 Cr
Equity - Issued	104.5 Cr	104.5 Cr	104.5 Cr	104.5 Cr
Equity Paid Up	104.5 Cr	104.5 Cr	104.5 Cr	104.5 Cr
Face Value	10	10	10	10
Total Reserves	578.09 Cr	745.63 Cr	861.36 Cr	1055.38 Cr
Profit & Loss Account Balance	566.73 Cr	736.44 Cr	851.77 Cr	1047.89 Cr
General Reserves	10.95 Cr	10.95 Cr	10.95 Cr	10.95 Cr
Reserve excluding Revaluation Reserve	578.09 Cr	745.63 Cr	861.36 Cr	1055.38 Cr
Shareholder's Funds	682.59 Cr	850.13 Cr	965.86 Cr	1159.88 Cr
Deferred Tax Assets / Liabilities	75.64 Lk	3.74 Cr	2.46 Cr	15.66 Cr
Deferred Tax Assets	8.61 Cr	10.77 Cr	14.36 Cr	12.69 Cr
Deferred Tax Liability	9.37 Cr	14.51 Cr	16.81 Cr	28.35 Cr
Other Long Term Liabilities	1.54 Cr	1.62 Cr	3.93 Cr	9.39 Cr
Long Term Provisions	1.04 Cr	217.35 Cr	266.03 Cr	3.24 Cr
Total Non-Current Liabilities	3.33 Cr	222.71 Cr	272.42 Cr	28.29 Cr
Trade Payables	7.42 Cr	8.19 Cr	13.06 Cr	16.92 Cr
Sundry Creditors	7.42 Cr	8.19 Cr	13.06 Cr	16.92 Cr
Other Current Liabilities	122.99 Cr	136.6 Cr	134.74 Cr	168.71 Cr
Advances received from customers	12.95 Cr	6.11 Cr	7.08 Cr	7.44 Cr
Short Term Provisions	17.11 Cr	119.1 Cr	128.8 Cr	29.22 Cr
Provision for Tax	2.93 Cr	100.48 Cr	108.4 Cr	3.26 Cr
Total Current Liabilities	147.52 Cr	263.89 Cr	276.6 Cr	214.86 Cr
Total Liabilities	833.44 Cr	1336.73 Cr	1514.87 Cr	1403.03 Cr
Gross Block	107.03 Cr	148.09 Cr	168.4 Cr	400.57 Cr
Less: Accumulated Depreciation	36.09 Cr	45.33 Cr	59.14 Cr	76.28 Cr
Net Block	70.94 Cr	102.76 Cr	109.26 Cr	324.29 Cr
Capital Work in Progress	10.06 Cr	0	173.16 Cr	0
Non Current Investments	203.72 Cr	141.15 Cr	304.99 Cr	383.08 Cr
Long Term Investment	203.72 Cr	141.15 Cr	304.99 Cr	383.08 Cr
Quoted	138.13 Cr	44.48 Cr	83.58 Cr	99.06 Cr
Unquoted	65.58 Cr	96.66 Cr	221.42 Cr	284.02 Cr
Long Term Loans & Advances	9.24 Cr	227.35 Cr	278.25 Cr	12.09 Cr
Other Non Current Assets	3.35 Cr	3.81 Cr	6.64 Cr	15.98 Cr
Total Non-Current Assets	310.02 Cr	478.87 Cr	873.43 Cr	739.26 Cr
Currents Investments	372.43 Cr	575.38 Cr	434.61 Cr	521.7 Cr
Quoted	96.46 Cr	96.4 Cr	40.91 Cr	26.17 Cr
Unquoted	65.58 Cr	96.66 Cr	221.42 Cr	284.02 Cr
Sundry Debtors	10.36 Cr	27.75 Cr	23.43 Cr	30.72 Cr
Debtors more than Six months	0	11.11 Cr	13.28 Cr	14.98 Cr
Debtors Others	21.63 Cr	27.97 Cr	23.46 Cr	30.61 Cr
Cash and Bank	114.17 Cr	126 Cr	58.4 Cr	44.62 Cr
Balances at Bank	114.17 Cr	126 Cr	58.4 Cr	44.62 Cr
Other Current Assets	11.79 Cr	29.87 Cr	13.34 Cr	21.12 Cr
Interest accrued on Investments	0	0	0	2.28 Cr
Interest accrued on Debentures	3.41 Cr	2.29 Cr	3.41 Cr	3.62 Cr
Prepaid Expenses	2.85 Cr	5.09 Cr	5.39 Cr	15.15 Cr
Short Term Loans and Advances	14.67 Cr	98.86 Cr	111.65 Cr	45.61 Cr
Advances recoverable in cash or in kind	14.15 Cr	12.49 Lk	2.63 Cr	1.73 Cr
Advance income tax and TDS	0	98.24 Cr	106.01 Cr	6.42 Cr
Total Current Assets	523.41 Cr	857.86 Cr	641.44 Cr	663.76 Cr
Net Current Assets (Including Current Investments)	375.9 Cr	593.97 Cr	364.84 Cr	448.91 Cr
Total Assets	833.44 Cr	1336.73 Cr	1514.87 Cr	1403.03 Cr
Contingent Liabilities	80.57 Lk	23.69 Cr	17.86 Cr	13.42 Cr
Book Value	65.32	81.35	92.43	110.99
Adjusted Book Value	65.32	81.35	92.43	110.99

Consolidated Standalone

FINANCIAL RATIOS (CONSOLIDATED) FOR CENTRAL DEPOSITORY SERVICES (INDIA) LIMITED

YEAR	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Operational & Financial Ratios
Earnings Per Share (Rs)	19.17	29.78	26.41	40.11
CEPS(Rs)	20.14	31.07	28.27	42.75
DPS(Rs)	9	15	16	22
Book NAV/Share(Rs)	83.94	104.59	116.15	140.03
Tax Rate(%)	22.45	23.6	24.43	24.54
Margin Ratios
Core EBITDA Margin(%)	61.63	66.54	58.25	60.25
EBIT Margin(%)	75.51	74.36	65.81	68.47
Pre Tax Margin(%)	75.5	74.36	65.78	68.45
PAT Margin (%)	58.56	56.81	49.71	51.65
Cash Profit Margin (%)	61.23	58.89	53.22	55.01
Performance Ratios
ROA(%)	20.68	20.19	15.36	25.91
ROE(%)	25.14	31.8	23.93	31.34
ROCE(%)	32.42	41.62	31.67	41.55
Asset Turnover(x)	0.35	0.36	0.31	0.5
Sales/Fixed Asset(x)	3.05	3.98	3.15	2.6
Working Capital/Sales(x)	0.53	0.75	1.18	1.45
Efficiency Ratios
Fixed Capital/Sales(x)	0.33	0.25	0.32	0.39
Receivable days	26.43	27.58	27.45	23.48
Payable days	53.27	0	0	0
Valuation Parameters
PER(x)	34.22	49.71	34.42	42.69
PCE(x)	32.57	47.65	32.14	40.04
Price/Book(x)	7.82	14.15	7.82	12.23
Yield(%)	1.37	1.01	1.76	1.29
EV/Net Sales(x)	19.34	27.69	16.89	21.96
EV/Core EBITDA(x)	24.74	36.22	24.08	30.52
EV/EBIT(x)	25.61	37.23	25.66	32.07
EV/CE(x)	6.13	9	4.94	12.19
M Cap / Sales	19.95	28.06	17.11	22.02
Growth Ratio
Net Sales Growth(%)	52.69	60.4	0.68	46.33
Core EBITDA Growth(%)	81.33	56.81	-7.65	50.17
EBIT Growth(%)	90.18	57.96	-10.59	52.24
PAT Growth(%)	88.6	55.62	-11.5	52.03
EPS Growth(%)	88.72	55.33	-11.33	51.88
Financial Stability Ratios
Current Ratio(x)	5.06	3.67	2.63	3.33
Quick Ratio(x)	5.06	3.67	2.63	3.33
Interest Cover(x)	0	0	2736.24	5051.06

FINANCIAL RATIOS (STANDALONE) FOR CENTRAL DEPOSITORY SERVICES (INDIA) LIMITED

YEAR	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Operational & Financial Ratios
Earnings Per Share (Rs)	15.32	25.24	26.04	34.77
CEPS(Rs)	16.01	26.21	27.55	36.8
DPS(Rs)	9	15	16	22
Book NAV/Share(Rs)	65.32	81.35	92.43	110.99
Tax Rate(%)	22.44	21.81	21.02	23.15
Margin Ratios
Core EBITDA Margin(%)	63.53	68.01	59.23	61.17
EBIT Margin(%)	76.28	81.33	76.45	73.77
Pre Tax Margin(%)	76.27	81.33	76.45	73.76
PAT Margin (%)	59.15	63.59	60.38	56.68
Cash Profit Margin (%)	61.85	66.02	63.9	59.99
Performance Ratios
ROA(%)	21.54	21.68	19.1	28.48
ROE(%)	25.56	34.42	29.97	34.18
ROCE(%)	32.96	44.02	37.94	44.48
Asset Turnover(x)	0.36	0.34	0.32	0.5
Sales/Fixed Asset(x)	2.6	3.25	2.85	2.25
Working Capital/Sales(x)	0.72	0.7	1.24	1.43
Efficiency Ratios
Fixed Capital/Sales(x)	0.38	0.31	0.35	0.44
Receivable days	15.1	22.81	20.73	15.42
Payable days	32.77	0	0	0
Valuation Parameters
PER(x)	42.83	58.65	34.9	49.24
PCE(x)	40.97	56.49	32.98	46.52
Price/Book(x)	10.04	18.2	9.83	15.42
Yield(%)	1.37	1.01	1.76	1.29
EV/Net Sales(x)	24.91	36.99	20.95	27.84
EV/Core EBITDA(x)	31.55	44.16	26.19	36.12
EV/EBIT(x)	32.66	45.48	27.4	37.74
EV/CE(x)	8.09	11.48	6.23	15.39
M Cap / Sales	25.34	37.29	21.08	27.91
Growth Ratio
Net Sales Growth(%)	60.92	53.3	8.63	42.25
Core EBITDA Growth(%)	101.8	62.61	3.71	37.09
EBIT Growth(%)	112.33	63.46	2.12	37.25
PAT Growth(%)	107.01	64.79	3.15	33.53
EPS Growth(%)	107.01	64.79	3.15	33.53
Financial Stability Ratios
Current Ratio(x)	3.55	3.25	2.32	3.09
Quick Ratio(x)	3.55	3.25	2.32	3.09
Interest Cover(x)	8973.43	0	0	0

SHARE HOLDING PATTERN FOR CENTRAL DEPOSITORY SERVICES (INDIA) LIMITED

Date	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Promoters %	20.00	20.00	20.00	20.00	15.00	15.00	15.00	15.00	15.00	15.00
FII %	8.59	8.47	8.65	7.49	7.92	8.08	10.99	11.38	14.00	13.70
DII %	0.03	0.01	0.01	0.00	0.25	0.25	0.27	0.30	0.41	0.41
Public %	45.31	45.40	45.71	46.85	47.87	47.94	45.51	50.47	46.09	49.66

PEER COMPARISON FOR CENTRAL DEPOSITORY SERVICES (INDIA) LIMITED

No.	Name
1	SBI Cards and Payment Services Limited
2	Spandana Sphoorty Financial Limited
3	CREDITACCESS GRAMEEN LIMITED
4	HB Stockholdings Limited
5	IndoStar Capital Finance Limited
6	Aditya Birla Capital Limited
7	The Investment Trust Of India Limited
8	Central Depository Services (India) Limited
9	Capital Trust Limited
10	N. B. I. Industrial Finance Company Limited
11	Viji Finance Limited
12	Arman Financial Services Limited
13	Equitas Holdings Limited
14	Muthoot Capital Services Limited
15	Lakshmi Finance & Industrial Corporation Limited
16	Manappuram Finance Limited
17	Paisalo Digital Limited
18	L&T Finance Limited
19	Muthoot Finance Limited
20	PTC India Financial Services Limited
21	Summit Securities Limited
22	Sastasundar Ventures Limited
23	Industrial Investment Trust Limited
24	Nahar Capital and Financial Services Limited
25	Edelweiss Financial Services Limited
26	Nagreeka Capital & Infrastructure Limited
27	McDowell Holdings Limited
28	Transwarranty Finance Limited
29	Crest Ventures Limited
30	Mahindra & Mahindra Financial Services Limited
31	IDFC Limited
32	Vardhman Holdings Limited
33	Shriram City Union Finance Limited
34	Consolidated Finvest & Holdings Limited
35	Poonawalla Fincorp Limited
36	Bajaj Finance Limited
37	PNB Gilts Limited
38	Tata Investment Corporation Limited
39	Sundaram Finance Limited
40	TCI Finance Limited
41	DCM Financial Services Limited
42	Shriram Finance Limited
43	International Constructions Limited
44	SIL Investments Limited
45	Cholamandalam Investment and Finance Company Limited
46	Coral India Finance & Housing Limited
47	SREI Infrastructure Finance Limited
48	Reliance Capital Limited
49	Bajaj Holdings & Investment Limited
50	Williamson Magor & Company Limited