- The company’s net profit increased by 56% in the December quarter to ₹83.63 crores.
- It has high stability operating income from fixed annual charges that it collects from registered companies and transaction-based fees that it collects from depository participants.
- CDSL became the first depository with 6 crore active accounts.
Central Depository Services (India) Ltd said on March 1 that it now has six crore active Demat accounts. It hit the 5 crore mark in November 2021 and within a span of just three months, it added another crore accounts.
Its shares rallied 3.46% to ₹1400.2 after the company announced its achievement. Currently, the share is trading at ₹1390.05 levels. In the last five days, its share price has increased by 1.59%. It was trading at ₹1500 levels when the markets were stable and reached a 52 week high of ₹1,734.40 apiece.
The CDSL is India’s leading and only listed depository with the objective of providing convenient dependable and secure depository services.
The company’s net profit increased by 56% in the December quarter to ₹83.63 crores. Its net sales increased by 75.9% to ₹151.52 crores. Its income rose by 58% to ₹162.93 crores from ₹103.2 crores in the same quarter last year.
CDSL facilitates holding and transacting in securities in the electronic form and facilitates settlement of trades on stock exchanges. It has high stability operating income from fixed annual charges that it collects from registered companies and transaction-based fees that it collects from depository participants.
We are elated to have crossed the 6-crore milestone. It is a moment of pride and happiness for the entire ecosystem of the securities market and demonstrates the dividend of digitization embarked upon in the 1990s. The milestone also recognises the efforts that led to this growth– the capital market regulator, the market infrastructure institutions, market intermediaries and the employees of CDSL. It is years of ingenious foresightedness of SEBI, hard work and innovation that has made the process of a Demat account opening secure and simple.” CDSL MD & CEO Nehal Vora said.
CDSL chairman BV Chaubal said that it was reassuring to note that the focus of registration of new Demat accounts was shifting from metros to tier II and III cities, an indication of broadening of the Indian capital market.
“While we are now at 6 crore Demat accounts, our Demat accounts are still at a fraction of the entire population and thus, there is an immense opportunity of growth given that a large part of the population of our country is yet outside the Indian securities markets,” Chaubal said.
