Central Depository Services (India) Dividends and Buybacks
Dividend criteria checks 3/6
Central Depository Services (India) is a dividend paying company with a current yield of 1.07% that is well covered by earnings.
Key information
1.1%
Dividend yield
n/a
Buyback Yield
| Total Shareholder Yield | n/a |
| Future Dividend Yield | 2.0% |
| Dividend Growth | 26.5% |
| Next dividend pay date | n/a |
| Ex dividend date | n/a |
| Dividend per share | n/a |
| Payout ratio | 58% |
Recent dividend and buyback updates
Recent updates
Narrative Update • May 29
CDSL: Trimmed Fair Value And Lower Future P/E Will Pressure Outlook
Analysts have trimmed their fair value estimate for Central Depository Services (India) from ₹1,140 to ₹1,090, reflecting updated views on discount rates, revenue growth, profit margins, and future P/E assumptions. What's in the News A board meeting is scheduled for May 2, 2026 to consider and approve audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, along with the statutory auditor's report (Key Developments).Narrative Update • May 13
CDSL: Revised Assumptions And Upcoming Results Will Shape Fairly Valued Outlook
Analysts have lifted their price target on Central Depository Services (India) from ₹1,043.06 to ₹1,140.00, citing updated assumptions around discount rates, revenue growth, profit margins and future P/E expectations. What's in the News A board meeting is scheduled for May 2, 2026, to consider and approve the audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, along with the statutory auditor's report (Key Developments).Narrative Update • Apr 21
CDSL: Higher Required Return Will Pressure Already Overstretched Shares
Analysts have slightly increased their fair value estimate for Central Depository Services (India) to ₹1,043.06 from ₹1,041.18, citing marginally higher assumptions for revenue growth, profit margin and future P/E, along with a modestly higher discount rate. What's in the News A board meeting is scheduled on May 2, 2026, to consider and approve audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, along with the statutory auditor's report (Key Developments).Narrative Update • Apr 07
CDSL: Lower Future P E Multiple Will Pressure Overstretched Shares
Analysts have trimmed their price target for Central Depository Services (India) from about ₹1,078 to roughly ₹1,041, linking the revision to updated assumptions around discount rates, revenue growth, profit margins and future P/E multiples. What's in the News Lexoraa Industries approved the appointment of CDSL to provide e voting services for its Extra Ordinary General Meeting scheduled after the March 9, 2026 board decision (client announcement).
Narrative Update • Mar 24
CDSL: Upcoming Board Results And New Mandate Will Support Bullish Thesis
Analysts have maintained their price target for Central Depository Services (India) at ₹1,660, citing minor adjustments to assumptions for the discount rate, revenue growth and profit margins, as well as a slightly lower future P/E multiple to reflect updated expectations. What's in the News Lexoraa Industries Limited approved the appointment of CDSL to provide e voting services for its Extra Ordinary General Meeting at a board meeting held on March 9, 2026 (client announcement).Narrative Update • Mar 09
CDSL: Softer Margins And Board Review Will Signal Overstretched Shares
Analysts have trimmed their fair value estimate for Central Depository Services (India) to ₹1,078 from ₹1,139, reflecting slightly softer assumptions for revenue growth, profit margins, the discount rate and future P/E multiples. What's in the News Board meeting scheduled on January 31, 2026 to consider and approve the audited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025, along with the statutory auditor's report (Key Developments).Narrative Update • Feb 22
CDSL: Upcoming Results Will Reinforce Bullish View On Future Earnings Multiple
Analysts have kept their price target for Central Depository Services (India) steady at ₹1,660, citing only small tweaks to assumptions around discount rate, revenue growth and profit margin rather than a change in their overall view of the stock. What's in the News A board meeting is scheduled on January 31, 2026 to consider, approve and record the audited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025, along with the statutory auditor's report (Key Developments).Narrative Update • Feb 08
CDSL: Upcoming Results And Earnings Multiple Will Support Bullish Repricing
Narrative Update on Central Depository Services (India) Analysts now place fair value for Central Depository Services (India) at ₹1,660, compared with the prior ₹1,840. This reflects updated assumptions for the discount rate, revenue growth, profit margin and future P/E.Narrative Update • Jan 25
CDSL: Elevated P/E And Board Review Will Point To Overstretched Shares
Analysts have raised their fair value estimate for Central Depository Services (India) from ₹1,012.81 to ₹1,138.54, based on updated assumptions for revenue growth, profit margin, and future P/E that collectively support a higher price target. What's in the News A board meeting is scheduled for January 31, 2026, to consider and approve the audited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025, along with the statutory auditor's report (Key Developments).Narrative Update • Jan 11
CDSL: Higher Margin Outlook And Upcoming Results Will Support Bullish Repricing
Analysts have lifted their price target on Central Depository Services (India) to ₹1,840 from ₹1,780, citing updated assumptions for higher revenue growth, improved profit margins, and a lower future P/E multiple in their models. What's in the News Board meeting scheduled on January 31, 2026, to consider and approve the audited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025, along with the statutory auditor's report (company filing).
Narrative Update • Dec 24
CDSL: Upcoming Results Review Will Guide View On Fairly Valued Outlook
Analysts have marginally reduced their price target on Central Depository Services (India) to ₹1,532.57 from ₹1,538.92, citing slightly lower expected fair value despite modest improvements in revenue growth assumptions and a small reduction in the discount rate. What's in the News A board meeting is scheduled for November 1, 2025, to review and approve the audited standalone and consolidated financial results for the quarter and half year ended September 30, 2025, including the statutory auditor's report (company filing).Narrative Update • Dec 10
CDSL: Upcoming Board Review Will Shape View On Sustained Profitability
Analysts have lifted their price target on Central Depository Services (India) Limited to ₹1,539 per share, reflecting a modest upward revision supported by expectations of sustained high growth and robust profitability, underpinned by only slightly higher discount rate and valuation assumptions. What's in the News Board meeting scheduled for November 1, 2025, to review and approve audited standalone and consolidated financial results for the quarter and half year ended September 30, 2025 (company filing) Statutory auditor's report on the September 30, 2025, financials to be placed before the board for consideration and adoption (company filing) Half yearly performance review expected to offer detailed insight into profitability trends and growth momentum in core depository operations (company filing) Valuation Changes Discount Rate increased slightly from 14.52 percent to 14.61 percent, indicating a marginally higher required return in the valuation model Revenue Growth was effectively unchanged at around 17.50 percent, suggesting a stable outlook for top line expansion Net Profit Margin was broadly maintained at approximately 50.39 percent, reflecting expectations of continued strong profitability Future P/E inched up slightly from about 49.70x to 49.82x, implying a modest upward shift in valuation multiples applied to future earnings Fair Value Estimate per Share remains effectively unchanged at around ₹1,539, indicating that the overall intrinsic value assessment is stable despite minor assumption tweaksAnalysis Article • Dec 09
Investors Interested In Central Depository Services (India) Limited's (NSE:CDSL) Earnings
Central Depository Services (India) Limited's ( NSE:CDSL ) price-to-earnings (or "P/E") ratio of 67.2x might make it...Narrative Update • Nov 25
CDSL: Upcoming Results And Margin Improvements Will Determine Medium-Term Outlook
Analysts have raised their price target for Central Depository Services (India) from ₹1,504.55 to ₹1,538.92, citing improved revenue growth and margins as key factors supporting this upward revision. What's in the News A board meeting is scheduled for November 1, 2025 to consider and approve the audited standalone and consolidated financial results for the quarter and half-year ended September 30, 2025, along with the Statutory Auditor's report (Company filing) Valuation Changes Consensus Analyst Price Target has risen slightly from ₹1,504.55 to ₹1,538.92.Narrative Update • Nov 05
CDSL: Revenue Forecasts And Client Contracts Will Shape Earnings Outlook
Analysts have raised their price target for Central Depository Services (India) from ₹1,455.18 to ₹1,504.55, citing improved revenue growth and profitability forecasts as key drivers for the upward revision. What's in the News Board of Directors meeting scheduled for November 1, 2025, to review and approve audited financial results for the quarter and half-year ended September 30, 2025 (Board Meeting).Narrative Update • Oct 22
Analysts Lift Price Target for Central Depository Services on Improved Margins and Client Wins
Analysts have revised their price target for Central Depository Services (India) slightly upward from ₹1,452 to ₹1,455.18. This adjustment is attributed to incremental improvements in profit margin projections and a marginal decrease in discount rate assumptions.Narrative Update • Oct 08
Digital Onboarding And Regulatory Reforms Will Secure Future Market Position
Analysts have raised their price target for Central Depository Services (India) from ₹1,417.70 to ₹1,452.00. They cited incremental improvements in revenue growth projections and profitability metrics as reasons for the revision.Narrative Update • Sep 04
Digital Onboarding And Regulatory Reforms Will Secure Future Market Position
As both consensus revenue growth forecasts (12.1% p.a.) and the discount rate (14.65%) remained stable, there has been no meaningful change in the fair value estimate for Central Depository Services (India), which stays at ₹1418. What's in the News Multiple listed companies, including Transrail Lighting, Welcure Drugs & Pharmaceuticals, Supra Pacific Financial Services, Sabrimala Industries, VAS Infrastructure, MRP Agro, Kumbhat Financial Services, and Khyati Multimedia Entertainment, have appointed Central Depository Services (India) as their e-voting service provider for AGMs and postal ballots.Analysis Article • Aug 08
We Take A Look At Whether Central Depository Services (India) Limited's (NSE:CDSL) CEO May Be Underpaid
Key Insights Central Depository Services (India) will host its Annual General Meeting on 14th of August CEO Nehal...Analysis Article • Jul 26
Does Central Depository Services (India) (NSE:CDSL) Deserve A Spot On Your Watchlist?
For beginners, it can seem like a good idea (and an exciting prospect) to buy a company that tells a good story to...Analysis Article • Jun 03
What Central Depository Services (India) Limited's (NSE:CDSL) 27% Share Price Gain Is Not Telling You
Despite an already strong run, Central Depository Services (India) Limited ( NSE:CDSL ) shares have been powering on...Analysis Article • Apr 08
Here's Why Central Depository Services (India) (NSE:CDSL) Has Caught The Eye Of Investors
The excitement of investing in a company that can reverse its fortunes is a big draw for some speculators, so even...Analysis Article • Jan 29
Some Central Depository Services (India) Limited (NSE:CDSL) Shareholders Look For Exit As Shares Take 29% Pounding
Central Depository Services (India) Limited ( NSE:CDSL ) shareholders won't be pleased to see that the share price has...Analysis Article • Jan 06
Here's Why Central Depository Services (India) (NSE:CDSL) Has Caught The Eye Of Investors
For beginners, it can seem like a good idea (and an exciting prospect) to buy a company that tells a good story to...
New Narrative • Dec 20
Competitive Pressures And Rising Costs May Compress Margins, Yet Demat Growth And Digital Innovation Signal Potential Upside
Reduced transaction charges and rising employee expenses could pressure CDSL's margins if revenue growth doesn't keep pace with costs.Analysis Article • Dec 02
Central Depository Services (India) Limited's (NSE:CDSL) Popularity With Investors Is Under Threat From Overpricing
Central Depository Services (India) Limited's ( NSE:CDSL ) price-to-earnings (or "P/E") ratio of 64.3x might make it...Analysis Article • Aug 20
Subdued Growth No Barrier To Central Depository Services (India) Limited (NSE:CDSL) With Shares Advancing 26%
Despite an already strong run, Central Depository Services (India) Limited ( NSE:CDSL ) shares have been powering on...Analysis Article • Jul 12
Here's Why We Think Central Depository Services (India) (NSE:CDSL) Might Deserve Your Attention Today
Investors are often guided by the idea of discovering 'the next big thing', even if that means buying 'story stocks...Analysis Article • Apr 27
Earnings Not Telling The Story For Central Depository Services (India) Limited (NSE:CDSL) After Shares Rise 26%
Central Depository Services (India) Limited ( NSE:CDSL ) shareholders would be excited to see that the share price has...Analysis Article • Apr 13
With EPS Growth And More, Central Depository Services (India) (NSE:CDSL) Makes An Interesting Case
Investors are often guided by the idea of discovering 'the next big thing', even if that means buying 'story stocks...Analysis Article • Feb 09
New Forecasts: Here's What Analysts Think The Future Holds For Central Depository Services (India) Limited (NSE:CDSL)
Central Depository Services (India) Limited ( NSE:CDSL ) shareholders will have a reason to smile today, with the...Analysis Article • Jan 07
Unpleasant Surprises Could Be In Store For Central Depository Services (India) Limited's (NSE:CDSL) Shares
When close to half the companies in India have price-to-earnings ratios (or "P/E's") below 30x, you may consider...Analysis Article • Nov 07
Does Central Depository Services (India) (NSE:CDSL) Deserve A Spot On Your Watchlist?
The excitement of investing in a company that can reverse its fortunes is a big draw for some speculators, so even...Analysis Article • Aug 25
Central Depository Services (India) (NSE:CDSL) Has Announced That It Will Be Increasing Its Dividend To ₹16.00
Central Depository Services (India) Limited ( NSE:CDSL ) has announced that it will be increasing its dividend from...Analysis Article • Aug 11
Central Depository Services (India)'s (NSE:CDSL) Shareholders Will Receive A Bigger Dividend Than Last Year
Central Depository Services (India) Limited ( NSE:CDSL ) has announced that it will be increasing its dividend from...Stability and Growth of Payments
Fetching dividends data
Stable Dividend: Whilst dividend payments have been stable, CDSL has been paying a dividend for less than 10 years.
Growing Dividend: CDSL's dividend payments have increased, but the company has only paid a dividend for 8 years.
Dividend Yield vs Market
| Central Depository Services (India) Dividend Yield vs Market |
|---|
| Segment | Dividend Yield |
|---|---|
| Company (CDSL) | 1.1% |
| Market Bottom 25% (IN) | 0.3% |
| Market Top 25% (IN) | 1.5% |
| Industry Average (Capital Markets) | 1.3% |
| Analyst forecast (CDSL) (up to 3 years) | 2.0% |
Notable Dividend: CDSL's dividend (1.07%) is higher than the bottom 25% of dividend payers in the Indian market (0.3%).
High Dividend: CDSL's dividend (1.07%) is low compared to the top 25% of dividend payers in the Indian market (1.47%).
Earnings Payout to Shareholders
Earnings Coverage: With its reasonable payout ratio (58.4%), CDSL's dividend payments are covered by earnings.
Cash Payout to Shareholders
Cash Flow Coverage: At its current cash payout ratio (77%), CDSL's dividend payments are covered by cash flows.
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Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/06/08 12:52 |
| End of Day Share Price | 2026/06/08 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2026/03/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
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Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Central Depository Services (India) Limited is covered by 21 analysts. 14 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Swarnabha Mukherjee | 360 ONE Capital Market Private Limited |
| Ashwin Mehta | Ambit Capital |
| null null | Asian Markets Securities Private Limited |