India’s largest depository which provides depository services, data processing services, and Others jumped 4 percent in the day’s trade upon posting its Q4FY24 results with a 105 percent jump in Net Profits and announcing a special and final dividend for FY24.
With a market capitalization of Rs. 22,530 Crores, the shares of Central Depository Sevices Limited were trading at Rs. 2,157.15, up 3.73 percent from its previous day’s close price of Rs. 2,079.
Its revenue from operations grew by 93 percent YoY from Rs. 124.76 Crores in Q4FY23 to Rs. 240.78 Crores in Q4FY24 and it grew by 12.26 percent QoQ from Rs. 214.47 Crores in Q3FY24 to Rs. 240.78 Crores in Q4FY24. Annually it generated a revenue of Rs. 550.08 Crores in FY23 and Rs. 812.25 Crores in FY24 indicating a growth of 47.66 percent YoY.
Its Net Profit grew by 105 percent YoY from Rs. 63.12 Crores in Q4FY23 to Rs. 129.41 Crores in Q4FY24 and it grew by 20 percent QoQ from Rs. 107.48 Crores in Q3FY24 to Rs. 129.41Crores in Q4FY24. Annually it generated a profit of Rs. 257.96 Crores in FY23 and Rs. 419.55 Crores in FY24 indicating a growth of 63 percent YoY.
In Addition, the Board of Directors of Central Depository Sevices Limited has recommended a final Dividend of Rs. 19 per equity share and additionally to commemorate the 25-year silver jubilee celebrations of CDSL it has announced a special dividend of Rs. 3 per equity share with a face value of Rs. 10, bringing the total dividend payout to Rs. 22 per equity share.
CDSL also known as Central Depository Services Limited is the largest depository in India that provides depository services, data processing services, and others. CDSL has an incremental market share of approximately 78 percent.
The business segments in which CDSL operates are Depository, Repository, Data entry, and storage by providing its services to exchanges, clearing corporations, depository participants (DPs), issuers, and investors.
In Q4FY24, it generated 24.3 percent of its revenue from Annual Issuer Income, 28.46 percent from transaction charges, 10.11 percent from online data charges, 19.4 percent from IPO/CA Income, and 17.6 percent from other income.
Written by: Bharath K.S
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