Central Depository Services (India) (CDSL) Q2 24/25 earnings summary

Executive summary

• Total demat accounts in India surpassed 170 million, with 12 million added in Q2 FY2025, reflecting strong investor confidence and market growth.

• Achieved 25 years of operations, becoming the first listed depository in Asia Pacific and surpassing 12.5 crore demat accounts milestone as of 2024.

• Focus on digital innovation and technology upgrades, including ASBA, AI, MSM, multi-lingual eCAS, and chatbot services to enhance accessibility and security.

• Regulatory changes drove significant additions of unlisted companies and related revenues.

• Received multiple industry awards, including the Global Custodian Legend Award and Tech Circle award for digital execution.

Financial highlights

• Consolidated total income for Q2 FY2025 rose 56% year-over-year to INR 359 crore; net profit up 49% to INR 152 crore.

• Consolidated total income for Q2 FY25 was ₹35,851.30 Lakh, up from ₹28,689.70 Lakh in Q1 FY25 and ₹23,011.65 Lakh in Q2 FY24.

• Consolidated net profit after tax for Q2 FY25 was ₹16,195.78 Lakh, compared to ₹13,416.72 Lakh in Q1 FY25 and ₹10,897.21 Lakh in Q2 FY24.

• Standalone Q2 income up 78% year-over-year to INR 324 crore; net profit up 95% to INR 171 crore.

• Other income included INR 22 crore from consolidated account statements and INR 23 crore from e-voting in H1.

Segment performance

• Unlisted company issuer income for the quarter was INR 9.2 crore, with 3,428 new companies added and INR 5.15 crore from one-time admission fees.

• Insurance repository business saw cumulative policies reach 1.572 million, with INR 103 lakh revenue in Q2.

• CVL (subsidiary) profit after tax for H1 FY2025 was INR 54 crore, up from INR 32.21 crore in the prior year period.

• Depository activity contributed the largest share of revenue and profit, with data entry and storage also showing significant growth.

• BO (Beneficial Owner) accounts reached 1,373 lakh in Q2FY25, up from 1,255 lakh in Q1FY25.