NSEI:CDSL

Stock Analysis Report

Central Depository Services (India)

Executive Summary

Central Depository Services (India) Limited operates as a securities depository in India.

Snowflake

Fundamentals

Flawless balance sheet with solid track record.

Share Price & News

How has Central Depository Services (India)'s share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

-0.3%

NSEI:CDSL

0.2%

IN Capital Markets

-0.7%

IN Market


1 Year Return

-29.2%

NSEI:CDSL

-46.1%

IN Capital Markets

-12.1%

IN Market

CDSL outperformed the Capital Markets industry which returned -46.1% over the past year.

CDSL underperformed the Market in India which returned -12.1% over the past year.


Share holder returns

CDSLIndustryMarket
7 Day-0.3%0.2%-0.7%
30 Day-4.9%-9.6%-3.2%
90 Day-15.2%-18.1%-7.6%
1 Year-29.2%-29.2%-45.3%-46.1%-10.3%-12.1%
3 Yearn/a2.1%-1.3%18.9%12.8%
5 Yearn/a26.1%18.6%37.6%24.7%

Price Volatility Vs. Market

How volatile is Central Depository Services (India)'s share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Central Depository Services (India) undervalued based on future cash flows and its price relative to the stock market?

16.63x

Price to Earnings (PE) ratio


Intrinsic Value Based on Future Cash Flows

Central Depository Services (India)'s share price is above the future cash flow value, it's not available at a moderate discount (< 20%).

Central Depository Services (India)'s share price is above the future cash flow value, it's not available at a substantial discount (< 40%).


Price Based on Earnings

Central Depository Services (India) is overvalued based on earnings compared to the IN Capital Markets industry average.

Central Depository Services (India) is overvalued based on earnings compared to the India market.


Price Based on Expected Growth

Central Depository Services (India) is poor value based on expected growth next year.


Price Based on Value of Assets

Central Depository Services (India) is overvalued based on assets compared to the IN Capital Markets industry average.


Next Steps

Future Growth

How is Central Depository Services (India) expected to perform in the next 1 to 3 years based on estimates from 3 analysts?

7.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Central Depository Services (India)'s revenue is expected to decrease over the next 1-3 years, this is not considered high growth.

Central Depository Services (India)'s earnings are expected to grow by 7.4% yearly, however this is not considered high growth (20% yearly).

Central Depository Services (India)'s revenues are expected to decrease over the next 1-3 years, this is below the India market average.

Central Depository Services (India)'s earnings growth is positive but not above the India market average.

Central Depository Services (India)'s earnings growth is positive but not above the low risk savings rate of 7.6%.


Earnings per Share Growth Estimates


Future Return on Equity

Unable to establish if Central Depository Services (India) will efficiently use shareholders’ funds in the future without estimates of Return on Equity.


Next Steps

Past Performance

How has Central Depository Services (India) performed over the past 5 years?

15.1%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Central Depository Services (India)'s year on year earnings growth rate has been positive over the past 5 years.

Central Depository Services (India)'s 1-year earnings growth exceeds its 5-year average (19.4% vs 15.1%)

Central Depository Services (India)'s earnings growth has exceeded the IN Capital Markets industry average in the past year (19.4% vs -13.2%).


Return on Equity

Central Depository Services (India) has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

Central Depository Services (India) used its assets more efficiently than the IN Capital Markets industry average last year based on Return on Assets.


Return on Capital Employed

Central Depository Services (India) has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).


Next Steps

Financial Health

How is Central Depository Services (India)'s financial position?


Financial Position Analysis

Central Depository Services (India) is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.

Central Depository Services (India)'s cash and other short term assets cover its long term commitments.


Debt to Equity History and Analysis

Central Depository Services (India) has no debt.

Central Depository Services (India) has not taken on any debt in the past 5 years.

Central Depository Services (India) has no debt, it does not need to be covered by operating cash flow.

Central Depository Services (India) has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet

Low level of unsold assets.

Central Depository Services (India) has no debt, it does not need to be covered by short term assets.


Next Steps

Dividend

What is Central Depository Services (India)'s current dividend yield, its reliability and sustainability?

2.45%

Expected Dividend Yield


Dividend Yield and Payments Analysis

Central Depository Services (India)'s pays a higher dividend yield than the bottom 25% of dividend payers in India (0.63%).

Central Depository Services (India)'s dividend is below the markets top 25% of dividend payers in India (2.52%).

It is too early to tell whether Central Depository Services (India) has stable dividend payments.

Central Depository Services (India) only just started paying a dividend, it is too early to tell if payments are increasing.


Current Payout to Shareholders

Dividends paid are well covered by earnings (2.9x coverage).


Future Payout to Shareholders

Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.


Next Steps

Management

What is the CEO of Central Depository Services (India)'s salary, the management and board of directors tenure and is there insider trading?

1.9yrs

Average management tenure


CEO

Central Depository Services (India) has no CEO, or we have no data on them.


Management Age and Tenure

1.9yrs

Average Tenure

The average tenure for the Central Depository Services (India) management team is less than 2 years, this suggests a new team.


Board Age and Tenure

2.8yrs

Average Tenure

52yo

Average Age

The average tenure for the Central Depository Services (India) board of directors is less than 3 years, this suggests a new board.


Insider Trading

No 3 month open market individual insider trading information.


Recent Insider Transactions

Sell₹38,644,21429 Dec 18
Bank of India, Asset Management Arm
EntityCompany
Shares175,000
Max Price₹220.82
Sell₹40,212,62828 Dec 18
Bank of India, Asset Management Arm
EntityCompany
Shares181,315
Max Price₹221.78
Sell₹17,044,34626 Dec 18
Bank of India, Asset Management Arm
EntityCompany
Shares75,000
Max Price₹227.26
Sell₹23,429,27721 Dec 18
Bank of India, Asset Management Arm
EntityCompany
Shares100,000
Max Price₹234.29
Sell₹200,351,51520 Dec 18
Bank of India, Asset Management Arm
EntityCompany
Shares917,180
Max Price₹218.44
Sell₹100,526,84119 Dec 18
Bank of India, Asset Management Arm
EntityCompany
Shares462,000
Max Price₹217.59
Sell₹29,969,04019 Dec 18
Bank of India, Asset Management Arm
EntityCompany
Shares135,603
Max Price₹221.01
Sell₹15,497,73017 Dec 18
Bank of India, Asset Management Arm
EntityCompany
Shares69,636
Max Price₹222.55
Sell₹79,816,79313 Dec 18
Bank of India, Asset Management Arm
EntityCompany
Shares356,425
Max Price₹230.14
Sell₹46,581,78613 Dec 18
Bank of India, Asset Management Arm
EntityCompany
Shares207,925
Max Price₹224.03
Sell₹32,643,68406 Dec 18
Bank of India, Asset Management Arm
EntityCompany
Shares140,790
Max Price₹235.49
Sell₹105,187,47104 Dec 18
Bank of India, Asset Management Arm
EntityCompany
Shares445,000
Max Price₹236.38
Sell₹278,121,37430 Nov 18
Bank of India, Asset Management Arm
EntityCompany
Shares1,180,326
Max Price₹236.43

Ownership Breakdown


Management Team

  • Bharat Sheth

    Executive VP & CFO

    • Tenure: 0.0yrs
    • Compensation: ₹7.06m
  • Nayana Ovalekar

    Chief Operating Officer of Operations & Admission Cell

    • Tenure: 1.9yrs
  • Sunil Alvares

    Executive Vice President of New Projects

    • Tenure: 1.9yrs
  • K. Ramkumar

    Executive Vice President

    • Tenure: 1.9yrs
  • Joydeep Dutta

    Group CTO & Executive Director

    • Tenure: 0.0yrs
  • Farokh Patel

    Vice President of Audit

    • Tenure: 0.0yrs
  • Gaurang Shah

    Vice President of Finance & Accounts

    • Tenure: 0.0yrs
  • Lalit Sharma

    VP of Legal

    • Tenure: 0.8yrs

Board Members

  • Nayan Mehta (52yo)

    Shareholder Director

    • Tenure: 2.8yrs
    • Compensation: ₹780.00k
  • Nehal Vora (46yo)

    Shareholder Director

    • Tenure: 4.1yrs
    • Compensation: ₹210.00k
  • Balakrishna Chaubal

    Independent Director

    • Tenure: 0.1yrs
    • Compensation: ₹260.00k
  • Bontha Rao (65yo)

    Public Interest Director

    • Tenure: 2.8yrs
    • Compensation: ₹845.00k

Company Information

Central Depository Services (India) Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Central Depository Services (India) Limited
  • Ticker: CDSL
  • Exchange: NSEI
  • Founded: 1997
  • Industry: Asset Management and Custody Banks
  • Sector: Diversified Financials
  • Market Cap: ₹19.923b
  • Shares outstanding: 104.50m
  • Website: https://www.cdslindia.com

Number of Employees


Location

  • Central Depository Services (India) Limited
  • Marathon Futurex
  • 25th floor, A-Wing
  • Mumbai
  • Maharashtra
  • 400013
  • India

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CDSLNSEI (National Stock Exchange of India)YesEquity SharesININRJun 2017

Biography

Central Depository Services (India) Limited operates as a securities depository in India. It offers various services, such as account opening, dematerialization, processing delivery and receipt instruction ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/08/19 13:03
End of Day Share Price2019/08/19 00:00
Earnings2019/06/30
Annual Earnings2019/03/31


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 here.