India · Delayed Price · Currency is INR Central Depository Services (India) Earnings Call Transcripts
Fiscal Year 2026
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Reported steady growth in Demat accounts and income, with technology costs rising sharply and consolidated net profit declining year-over-year. Regulatory-driven KYC charge reductions and fewer IPOs impacted segment revenues, but management remains focused on scalability and innovation.
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Consolidated revenue and profits grew year-over-year, with strong demat account additions and continued technology investment. CVL segment saw a decline in revenue and profit, while the company maintained its market leadership and received global recognition.
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Q2 FY26 saw lower year-over-year income and profit due to absence of one-time dividend income, but core operations remained strong with 6.5 million new demat accounts and robust market share. Technology and regulatory investments continue, while insurance repository and KYC segments showed growth.
Fiscal Year 2025
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FY2025 saw record revenue and profit growth, driven by a surge in demat accounts and robust market activity, though Q4 was impacted by lower IPO and KYC volumes. Technology investments and high dividend payouts continued, with ongoing regulatory and market-driven uncertainties.
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Q3 FY25 saw strong income and profit growth year-over-year, with CDSL maintaining its market leadership in demat accounts despite muted market activity and a 20% transaction charge reduction. Technology investment and market inclusion remain strategic priorities.
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Q2 FY2025 saw a 56% rise in consolidated income and 49% growth in net profit year-over-year, driven by strong demat account additions, regulatory-driven issuer income, and digital innovation. Technology and employee costs rose with business scale, while transaction charge cuts may affect future revenue.
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Q1 FY25 saw a 65% rise in total income and 82% jump in net profit year-over-year, driven by robust market activity, increased demat accounts, and strong IPO/corporate action revenue. Technology costs rose to 10-12% of revenue, reflecting ongoing investment.