NSE/CDSL

CDSLCentral Depository Services (CDSL)

Financial Services · NSE

₹1,393.2+1.86%

52-wk low52-WEEK RANGE52-wk high

₹1,119.4+24.5% from low ·-22.8% from high₹1,804.9

Price chart · 1M–10Y · daily-close

NSE bhavcopy + 10Y historical

CDSL+21.50% · 1Y

Range high ₹1,828.9Range low ₹1,116.3Latest ₹1,393.2252 bars · daily-close · NSE bhavcopy + 10Y history

Financial ServicesCapital MarketsMidcapLow Risk

Stock scorecard

Auto-computed from latest ratios + sector context · not a buy/sell signal

Composite50/100

Performance

Low

Hasn't fared well — amongst the weak performers.

· 52w return +6.6%
· Below 200-DMA (-5.6%) — downtrend

Valuation

High

Looks expensive vs the sector.

· P/E 60.3 — 226% above sector median 18.5
· P/B 16.53 above sector median

Growth

High

Growing faster than the broader market.

· Revenue YoY +33.2% — strong top-line
· Profit YoY +25.5% — strong earnings growth

Profitability

High

Showing good signs of profitability & efficiency.

· ROE 27.4% — high-quality compounder
· Net margin 48.6% — strong pricing power

DVM composite · Durability · Valuation · Momentum

Trendlyne-style 3-axis composite · all drivers shown below · not a buy/sell signal

CompositeC(53/100)

Durability

A+

96/100

Financially resilient — strong quality + solvency profile.

Show 4 drivers

Piotroski F-score8/9 (89pt)
Altman Z" score13.71 (100pt)
Debt/Equity0.00 (100pt)
ROE27.4% (100pt)

Valuation

3/100

Richly valued on most axes; limited margin of safety.

Show 4 drivers

P/E vs sector (60.3 / 18.5)326% (0pt)
P/B16.53 (0pt)
Dividend yield0.90% (23pt)
EV/EBITDA42.0 (0pt)

Momentum

59/100

Constructive setup — momentum building, not extended.

Show 5 drivers

52w change+6.6% (53pt)
DMA-trend alignmentsideways (50pt)
RSI (14)67.5 (87pt)
Price vs 200-DMA-6.1% (48pt)
MACD regimebullish (75pt)

Valuation positioning

Current ratio vs sector peer distribution

P/E (TTM)60.32

OVERVALUED

CheapestP/E 60.3 at 84th %ile — pricier than 84% of peers.Most expensive

P/B16.53

OVERVALUED

CheapestP/B 16.53 at 97th %ile of sector.Most expensive

EV/EBITDA42.02

OVERVALUED

Monthly seasonality

Avg monthly return over 9 years · historical — not a forecast

Best: Apr +9.51% · Worst: Jan -4.71%

Jan

-4.7%

22% win

Feb

-0.1%

33% win

Mar

-2.9%

44% win

Apr

+9.5%

78% win

May

+5.1%

63% win

Jun

+3.6%

Monthly return distribution

Distribution of 106 monthly returns

Mean

+2.27%

Median

+1.07%

Std dev

11.78%

Best

+36.1%

Worst

-35.1%

% positive

55%

SWOT analysis

Auto-derived from ratios + sector context + forensics · research only, not a recommendation

STRENGTHS · 5

High-quality compounder (ROE 27.4%)
Above 20% ROE consistently flags capital-efficient businesses
Lean balance sheet (D/E 0.00)
Low leverage means earnings are less sensitive to rate cycles
Consistent top-line growth (25.2% 3Y CAGR)
Sustained revenue compounding is rare and hard to fake
Strong net margin (48.6%)
High margin indicates pricing power + operating efficiency
Financial quality score 8/9
Piotroski ≥7 historically associated with outperformance

WEAKNESSES · 1

Premium to sector on P/E (+226%)
P/E 60.3 vs Financial Services median 18.5

OPPORTUNITIES · 0

No strong near-term catalysts visible

THREATS · 1

Valuation compression risk
P/E 60.3 is 226% above sector — any growth miss gets punished

RETURNS · DAILY-CLOSE BASED

3Y+ shown as CAGR

+1.9%

+6.9%

+18.4%

-3.1%

-5.6%

+18.9%

+41.2%

+35.6%

10Y

+20.9%

Peer	Last close	1Y change	Mcap ₹Cr	P/E	P/B	ROE	D/E	Rev YoY
CDSLTHIS Central Depository Services (India) Limited	₹1,393.2	+6.6%	28,806	60.3	16.53	27.4%	0.00	+33.2%
HDFCBANK HDFC Bank Limited	₹799.9	-58.5%	12,24,457	17.8	2.17	13.8%	—	-1.8%
SBIN State Bank of India	₹1,080.25	+32.3%	10,22,614	12.1	1.73	14.3%	—	+14.5%
ICICIBANK ICICI Bank Limited	₹1,346.8	-4.5%	9,71,609	18.5	2.78	16.4%	—	+66.9%
BAJFINANCE Bajaj Finance Limited	₹908.25	-90.2%	5,70,505	31.7	5.52	17.4%	3.10	+6.4%
AXISBANK Axis Bank Limited	₹1,359.1	+11.1%	4,21,100	16.1	2.03	13.6%	—	+5.7%
KOTAKBANK Kotak Mahindra Bank Limited	₹383.6	-82.9%	3,77,170	20.1	2.24	11.2%	—	+24.2%
BAJAJFINSV Bajaj Finserv Limited	₹1,838.9	-12.6%	2,92,438	30.5	3.81	12.5%	2.38	+24.8%
SHRIRAMFIN Shriram Finance Limited	₹1,036.95	+47.5%	2,45,891	21.5	3.24	15.1%	2.79	+21.4%

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Research tool · not investment advice.

Axel Markets is an information + analytics product. We are not a SEBI-registered Research Analyst (RA) or Investment Adviser (IA). Nothing on this page is a buy, sell, or hold recommendation. Past performance is not indicative of future returns. Verify all data against the authoritative source (NSE, BSE, AMFI, SEBI, company RHP / factsheet) before acting. Daily OHLCV sourced primarily from our NSE bhavcopy ingest (public sec_bhavdata_full CSV), with Stooq as a fallback for historical gaps. Split + bonus adjusted. Excludes dividends. Not a recommendation. Past performance does not predict future returns. For authoritative live quotes see NSE / BSE directly.

Quarter	EPS estimate	EPS actual	Surprise %
-1q	6.92	6.38	-7.8%
-2q	8.47	6.71	-20.7%
-3q	6.30	4.90	-22.2%
-4q	5.70	4.80	-15.8%

Date	Amount
2025-08-07	₹12.50
2024-07-16	₹11.00
2023-08-25	₹8.00
2022-09-07	₹7.50
2021-09-13	₹4.50
2020-09-07	₹2.25
2019-09-06	₹2.00
2018-08-09	₹1.75

Component	Ratio	Weight	Contribution
Working Capital / Total Assets (A)	0.726	×6.56	4.765
Retained Earnings / Total Assets (B)	0.738	×3.26	2.407
EBIT / Total Assets (C)	0.275	×6.72	1.850
Book Equity / Total Liabilities (D)	4.467	×1.05	4.690

Metric	2024-Q3	2024-Q4	2025-Q1	2025-Q2	2025-Q4
Revenue	322	278	224	259	304
Operating profit	188	148	96	115	144
OPM %	58.3%	53.1%	42.6%	44.5%	47.3%
Interest	0	0	0	0	0
PBT	225	168	127	151	172
Tax %	27.9%	22.9%	21.1%	32.3%	22.7%
Net profit	162	130	100	102	133
EPS (₹)	7.75	6.23	—	4.90	6.38

Metric	2022-FY	2023-FY	2024-FY	2025-FY
Revenue	551	555	812	1,082
Operating profit	365	309	462	576
OPM %	66.2%	55.7%	56.9%	53.2%
Interest	0	0	0	0
Depreciation	11	19	27	49
PBT	409	365	556	695
Tax %	23.7%	24.4%	24.5%	24.3%
Net profit	311	276	419	527
EPS (₹)	14.89	13.21	20.05	25.20

CDSLCentral Depository Services (CDSL)

Price chart · 1M–10Y · daily-close

Stock scorecard

DVM composite · Durability · Valuation · Momentum

Valuation positioning

Monthly seasonality

Monthly return distribution

SWOT analysis

Fundamentals

Peer comparison · Financial Services

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Technical snapshot

Earnings history + surprises

Dividends + splits history

Recent news

Stock scorecard

SWOT analysis

DVM composite · Durability · Valuation · Momentum

Valuation positioning

Monthly seasonality

Monthly return distribution

Fundamentals

Pros and cons

Sector-relative context

Quality score · Piotroski F-score

Forensic score · Altman Z″ (emerging markets)

Analyst consensus

Company + balance sheet snapshot

Quarterly results

Annual P&L

Balance sheet

Cash flow statement

Ratios

Peer comparison · Financial Services

Metric	2022-FY	2023-FY	2024-FY	2025-FY
Equity capital	105	105	105	209
Reserves	979	1,098	1,350	1,553
Borrowings	0	2	1	3
Other liabilities	—	0	0	0

Metric	2022-FY	2023-FY	2024-FY	2025-FY
CF Operating	283	249	386	543
CF Investing	-146	-126	-249	-298
CF Financing	-94	-158	-169	-231
Net cash flow	44	-35	-32	14

Metric	2025-FY	2024-FY	2023-FY	2022-FY
OPM %	53.2%	56.9%	55.7%	66.2%
Net margin %	48.7%	51.6%	49.7%	56.4%
ROE %	32.8%	31.6%	24.1%	28.7%
ROCE %	43.2%	41.8%	31.9%	37.7%
Debt / Equity	0.00	0.00	0.00	0.00
Interest coverage	6950.0×	5055.6×	2809.8×	40856.0×
Revenue growth YoY	+33.2%	+46.3%	+0.7%	—
Profit growth YoY	+25.7%	+51.9%	-11.3%	—