CDSL reports a 22 per cent increase in quarterly profit after tax; share jumps over 3 per cent

Central Depository Services (India) Limited (CDSL), Asia’s first and the only listed depository, announced its audited consolidated & standalone financial results for the quarter ended June 30, 2022.

Central Depository Services (India) Limited (CDSL), Asia’s first and the only listed depository, announced its audited consolidated & standalone financial results for the quarter ended June 30, 2022.

Below are its quarterly financial performance highlights (standalone):  

(Amounts are in Rs crore)  

The following are the business performance highlights of the company:  

-CDSL became the first depository to register 6.85 crore Demat accounts in June 2022.  

-Around 55 lakh Demat accounts were opened in Q1 FY22-23, as compared to 62 lakh in Q1 FY21-22.  

-Value of securities in Demat custody (in crore) increased to Rs 33.84 lakh crore as of June 30, 2022.  

-In the period ended June 30, 2022, the company via its subsidiary - CVL continued to generate capital market investor records, being the first and the largest KYC registration agency (KRA) in the country.  

On this occasion, Nehal Vora, MD & CEO commented, “We are happy to present the first quarter of the new financial year. Our primary focus in the first quarter of this year remained on maintaining organic & sustainable growth and providing diversified services. Our digital services for DPs, investors & other market participants have been delivering on the promise of making it easier to access the securities markets independently and improve the experience for all market participants.” 

 He further added, “As India celebrates the 75th year of Independence, we find ourselves at a crossroad – a crossroad where the decision we make today will shape the future we build together. Furthermore, we reflect on our past efforts where we have spent years constructing this future that is defined by our steadfast commitment to a better India, our shared objective to empower every Indian through financial independence making them an Atmanirbhar Niveshak, and the opportunity to build a better economy for all Indians.” 

“Considering this, our long-term goal at CDSL is not only to grow individually but to also grow collectively as responsible contributors to the growth of our nation. To achieve the same, CDSL as a market infrastructure institution will continue to deliver on our promise of making the securities market a convenient and secured place”, he concluded. 

About the company: 

As mentioned above, CDSL is India’s leading and the only listed depository, with the objective of providing convenient, dependable, and secure depository services at an affordable cost to all market participants. The company received its certificate of commencement of business from SEBI in February 1999 and facilitates holding & transacting in securities in the electronic form along with facilitating settlement of trades on stock exchanges.    

CDSL maintains and services over 6.8 crore Demat accounts of investors or beneficial owners (BOs) spread across India. These BOs are serviced by CDSL’s 580 plus depository participants (DPs) from over 20,700 locations.    

CDSL’s enduring focus on delivering quality services and innovative products has propelled it on a high-growth path in recent years. Since the financial services industry has become increasingly IT-reliant, cutting-edge technology is at the heart of CDSL’s strategic vision.   

The major shareholders of CDSL include BSE, Standard Chartered Bank, PPFAS Mutual Fund, LIC, and Canara Bank.    

CDSL along with its subsidiaries also provides a host of services to the financial intermediaries and markets, which include:   

-CDSL Ventures Limited (CVL), a wholly-owned subsidiary of CDSL, is the first and the largest KYC registration agency (KRA). CVL conceptualised, designed, and implemented the KRA system in association with AMFI for all mutual funds in 2008. It also provides services relating to Registrar & Share Transfer Agent (RTA), GST Suvidha Provider (GSP), Academic Depository, and performing de-duplication of claims of Pradhan Mantri Jeevan Jyoti Bima Yojana.  

-CDSL Insurance Repository Limited (CDSLIR) is a company registered under Companies Act, 1956. CDSL IR has received a registration certificate from Insurance Regulatory & Development Authority of India (IRDAI) to act as an ‘insurance repository’ under the guidelines on insurance repositories, and electronic issuance of insurance policies dated May 29, 2015.   

-CDSL Commodity Repository Limited (CCRL) allows the farmer, farmers producer organisations (FPOs), manufacturers, etc., to obtain electronic warehouse receipts (negotiable or non-negotiable) [eNWRs or eNNWRs] in a Demat account against deposit of commodities in any of the warehouses registered with Warehousing Development & Regulatory Authority (WDRA).