C

Central Depository Services (India) Ltd.

CDSLNSE
Market snapshot · 2026-08-11 12:17 UTC

1,347.00

+₹14.50 (+1.09%)

MARKET CAP

₹28.15K Cr

STOCK P/E

59.5x

52W HIGH

₹1,673.70

52W LOW

₹1,116.30

BOOK VALUE

₹93.77

EPS

₹22.65

ROE

23.91%

SECTOR

Financials

DEBT/EQUITY

0.11

VOLUME

9.70L

P/B RATIO

14.37x

PEG RATIO

-2.99

Sector

Financials

Themes

Stock Exchanges & RatingsNbfcFintechCapital Market
D
Dividend
E
Earnings
₹1,611.10₹1,498.50₹1,385.91₹1,273.31₹1,160.71VolumeEEEDAug '25Sep '25Nov '25Jan '26Mar '26Apr '26Jun '26Aug '26

AI Summary

✦ Clartha

Forecast

Analyst targets, estimate history, and probabilistic forward ranges for CDSL.

15.00 analysts

Price Forecast

Current
₹1,347
High Target
₹1,458
▲ +8.2%
Median Target
₹1,300
▼ -3.5%
Low Target
₹1,090
▼ -19.1%
Now₹1,347High ₹1,458Median ₹1,300Low ₹1,090Aug '25Now12M Target
Price history (1Y)
Analyst target range
15 analysts

Probabilistic Range

Probabilistic lognormal cone using 1Y realized volatility and analyst-target drift when available.

Time horizonRange ()Probability
3M₹1,072 - ₹1,59380%
6M₹957.59 - ₹1,67880%
12M₹802.35 - ₹1,77480%
Realized vol: +31.0% · Drift: -7.3%

Revenue Forecast

₹ Cr
Jun '26Current₹247.0
Sep 2026 ETrend estimate range
High₹335.5Base₹310.7Low₹285.8
Sep '25: ₹272.0 · Dec '25: ₹254.0 · Mar '26: ₹212.0 · Jun '26: ₹247.0 · Sep '26: ₹310.7 · Dec '26: ₹290.1
Sep '25Dec '25Mar '26Jun '26Sep '26 EDec '26 E272.0254.0212.0247.0310.7290.1
PastCurrentTrend estimate: Low / Base / High

EPS Forecast

₹ / share
Jun '26Current₹6.91
Sep 2026 ETrend estimate range
High₹6.71Base₹5.99Low₹5.27
Sep '25: ₹6.10 · Dec '25: ₹5.74 · Mar '26: ₹3.29 · Jun '26: ₹6.91 · Sep '26: ₹5.99 · Dec '26: ₹5.64
Sep '25Dec '25Mar '26Jun '26Sep '26 EDec '26 E6.105.743.296.915.995.64
PastCurrentTrend estimate: Low / Base / High
Market Intelligence

Multi-factor synthesis of 5 key dimensions

Overall Outlook
Neutral
65%
Analyst Consensus
Weakening

From 15 analysts

Mean upside-3.1%

Fundamentals

Strong

Fundamentals institutional score is 79 using EVA spread proxy 11.9%; growth durability 50.5.

Valuation

Fairly valued

Valuation institutional score is 64 using relative multiple z-scores where peer dispersion is available.

Analyst Consensus

Weakening

Analyst View institutional score is 34 using mean target upside -3.1%; dispersion penalty 11.3; recommendation breadth from available consensus.

Technical Structure

Strong Trend

Technicals institutional score is 92 using EMA-20 continuation within 5% tolerance; VCP range/volume contraction proxy.

Market Sentiment

Neutral backdrop

Recent news flow is balanced or not decisive enough to tilt the tape. Based on 10 recent ticker-linked news items.

Signal Summary

Market intelligence remains Neutral. fundamentals and technical structure provide support, while analyst consensus and market sentiment remain considerations.

Composite weights: Fundamentals 25%, Valuation 20%, Analyst Consensus 20%, Technical Structure 20%, Market Sentiment 15%.

Fundamentals StrongValuation Fairly valuedAnalyst Consensus WeakeningTechnical Structure Strong TrendMarket Sentiment Neutral backdrop

Key Data Points

Mean Target Price1,305.5 target
Mean Upside-3.1%
Technical Score93%
Fundamental Score79%
Data CoverageHigh

Important Note: This is market intelligence, not investment advice. Always conduct your own research and consider your financial goals and risk tolerance.

Valuation Metrics

Trading 4.5% above historical median. Valuation is declining — currently in the fair zone (z-score: +0.33). Confidence: 75%.

Live forward EPS implies next-12-month EPS of ₹29.66. Applying the stock's normalized valuation corridor produces a fair range of ₹1,326.10 to ₹1,942.73, with base value near ₹1,687.06 (+25.2% vs current price).

Forward Valuation Outlook

Live forward estimate anchored to the company's historical valuation corridor.

Inside normalized range

Forward EPS

₹29.66

Forward P/E

45.4x

Base Fair Value

₹1,687.06

Fair Range

₹1,326.10 - ₹1,942.73

Upside To Base

+25.2%

Estimate Source

Live forward EPS

Growth Estimate

-19.9%

P/B
Strongly Undervalued

5Y Average

16.04

Current

14.37

Overvalued

17.28

Undervalued

14.22

P/E
Fair

5Y Average

43.52

Current

59.47

Overvalued

65.50

Undervalued

44.71

P/S
Strongly Overvalued

5Y Average

16.68

Current

22.79

Overvalued

22.24

Undervalued

10.12

Peers & Comparison

Sector: Financials · Theme: Stock Exchanges & Ratings

Stock Exchanges & Ratings Peers8 peers
Avg P/E: 42.4x
CompanyRev. GrowthMarginP/Evs Avg52W Perf.
CRISIL LTD
CRISILStock Exchanges & Ratings
+27.6%21.4%
36.9x
Fair
-13% vs avg
-9.4%
MULTI COMMODITY EXCHANGE
MCXStock Exchanges & Ratings
+85.3%55.6%
47.7x
Fair
+12% vs avg
+73.6%
INDIAN ENERGY EXC LTD
IEXPower Trading & Consultancy
+10.1%66.2%
22.3x
Undervalued
-47% vs avg
-8.5%
KRN HEAT EXCHANGE N REF L
KRNElectrical Components & Equipments
+36.5%12.7%
105.0x
Premium
+148% vs avg
+34.1%
BILLIONBRAINS GARAGE VN L
GROWWInvestment Banking & Brokerage
+65.2%45.4%
48.4x
Fair
+14% vs avg
+47.2%
MOTILAL OSWAL FIN LTD
MOTILALOFSDiversified Financials
+23.9%23.0%
27.7x
Undervalued
-35% vs avg
-5.3%
HDFC AMC LIMITED
HDFCAMCAsset Management
+13.4%61.6%
36.7x
Fair
-13% vs avg
-6.9%
BAJAJ HOLDINGS & INVS LTD
BAJAJHLDNGAsset Management
+24.2%734.6%
14.5x
Undervalued
-66% vs avg
-19.8%
WHY THESE PEERS

CENTRAL DEPO SER (I) LTD trades at a premium (59.5x vs peer avg 42.4x), implying higher growth or quality expectations from the Stock Exchanges & Ratings cohort. Peers include CRISIL LTD, MULTI COMMODITY EXCHANGE, INDIAN ENERGY EXC LTD — selected based on business model, industry classification, market cap similarity, and business theme alignment.

Financials

Real statement data for revenue, earnings quality, conversion, and balance-sheet coverage. Monetary values are shown in Rs crore.

Latest revenue

₹247 CrJun 2026

Latest net profit

₹144 CrJun 2026

Latest EPS

₹6.91Jun 2026

Net margin

51.0%Jun 2026

Performance

Bars show revenue and net profit. The line shows net margin.

Rs crore + margin %
Q1 '26Q2 '26Q3 '26Q4 '26Q1 '270.0%15.0%30.0%45.0%60.0%0.00 Cr70 Cr140 Cr210 Cr280 Cr
  • Revenue
  • Net income
  • Net margin %

Earnings

Revenue is shown in crores. EPS is rupees per share.

Rs crore + Rs/share
Q1 '26Q2 '26Q3 '26Q4 '26Q1 '270.00 Cr70 Cr140 Cr210 Cr280 Cr₹0₹2₹4₹6₹8
  • Revenue
  • EPS

Revenue to profit conversion

Bridge from operating numbers to profit for the latest reported period.

Rs crore
RevenueExpensesDepreciationOtheradjustmentsOperatingprofitOther incomeInterestOtheradjustmentsProfitbefore taxTax & otherNet Profit0.00 Cr65 Cr130 Cr195 Cr260 Cr

Latest reported period: Jun 2026

Debt level and coverage

Debt, cash and free cash flow compared on the same crore scale.

Rs crore
Annual view
Mar 2022Mar 2023Mar 2024Mar 2025Mar 20260.00 Cr500 Cr1.00K Cr1.50K Cr2.00K Cr
  • Debt
  • Free cash flow
  • Cash & equivalents

Results

MetricJun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales +123164170185198248221182222272254212247
Expenses +5361647176939091103111111113122
Operating Profit691031051141221551319011916114499125
OPM %56%63%62%62%62%62%59%50%54%59%57%47%51%
Other Income +4818162023761423911824380
Interest0000000000000
Depreciation455681011121313141416
Profit before tax11211611612813622113410219716515487189
Tax %18%24%26%24%23%23%22%21%23%23%22%21%24%
Net Profit +928886971051711058115212812069144
EPS in Rs4.414.214.104.665.048.195.023.867.276.105.743.296.91
Raw PDF

All values in ₹ Crores unless otherwise stated. Source: Screener Master (Standalone).

Shareholding Pattern

HolderJun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters +15.00%15.00%15.00%15.00%15.00%
FIIs +12.90%11.54%12.40%11.36%8.24%
DIIs +14.24%14.18%15.12%14.42%15.19%
Public +57.87%59.28%57.49%59.22%61.57%
Jun 2026
Promoters +
FIIs +
DIIs +
Public +

Events Timeline

Analysts/Institutional Investor Meet/Con. Call Updates

Aug 07, 2026PDFCompany Reports Open

Analysts/Institutional Investor Meet/Con. Call Updates

Aug 05, 2026PDFCompany Reports Open

Analysts/Institutional Investor Meet/Con. Call Updates

Aug 05, 2026PDFCompany Reports Open

Analysts/Institutional Investor Meet/Con. Call Updates

Aug 03, 2026PDFCompany Reports Open

Copy of Newspaper Publication

Aug 02, 2026PDFCompany Reports Open