The share price of this Midcap Market leader firm hit a 20 percent upper circuit to an Intraday high of Rs 2,407.4 per share on Friday after the board of directors of the company have announced to approve the issuance of bonus shares.
With a market capitalization of Rs 24,358.95 crores, the shares of Central Depository Services (India) Ltd (CDSL) hit a 20 percent upper circuit and closed at Rs 2,407 a piece on Friday’s market hours. Also, today’s high price of the stock is Rs 2,407.4 apiece and the previous closing price of the stock is Rs 2,006.20 apiece.
What happened: According to CDSL’s stock exchange filings, the firm announced that its board of directors will be meeting on Tuesday, July 02, 2024, to consider and approve the proposal for the issuance of bonus shares.
Financials: Reviewing the financials of CDSL on a year-on-year basis, the revenues rose by 46 percent from Rs 555 crores in FY23 to Rs 812 crores in FY24. In the same time frame, the net profits increased from Rs 276 crores to Rs 420 crores demonstrating a 52 percent increase.
Ratios: In terms of return ratios for the year 2024, CDSL has reported a return on equity (ROE) of 28.64 percent and a return on capital employed (ROCE ) of 36.14 percent. They have also reported a net profit margin of 51.78 for the same time period.
On an interesting note, the EBITDA of the company rose by 87 percent from Rs 71 crore in Q4FY23 to Rs 133 crore in Q4FY24. Also for the same time frame, the EPS grew by 80 percent from Rs 5 crores to 9 crores.
CDSL’s subsidiary companies include CDSL Insurance RepositoryLimited (CIRL), CDSL Ventures Limited (CVL), and CDSL Commodity Repository Limited (CCRL).
Share price movement: The shares of this company generated a multi-bagger of 115.48 percent over the past one year and 31.28 percent over the past six months.
shareholding pattern: As of March 2024, the firm’s shareholding pattern stood at 15 percent for promoters, 50.83 percent for the public, 11.38 percent for foreign institutional investors, and 22.79 percent for domestic institutional investors.
About the company: Headquartered in Mumbai, Central Depository Services (India) Ltd. (CDSL) is an Indian central securities depository. The company holds a monopoly in Market Infrastructure Institution (MII) services, playing a vital role in the capital market structure.
It provides essential services to all market participants including exchanges, clearing corporations, depository participants (DPs), issuers, and investors. The company has a market share of 59 percent in the depository business.
Written By Zahal
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