Central Depository Services (India) (CDSL) Q4 24/25 earnings summary

Executive summary

• FY2025 marked a record year with consolidated revenues reaching INR 1,199 crore and net profit at INR 526 crore, reflecting 32% and 25% year-on-year growth, respectively.

• Celebrated 25 years of operations, surpassing 14.5 crore demat accounts milestone and maintaining a dominant 79% market share, with demat accounts growing 32% to 15.29 crore as of March 31, 2025.

• Recognized with multiple industry awards, including the Global Custodian Legend Award and Regulation Asia Awards.

• Technology modernization and investor-focused innovation remained key priorities, with significant investments in infrastructure, security, and applications.

• Audited standalone and consolidated financial results for Q4 and FY2025 were approved, with auditors issuing an unmodified opinion.

Financial highlights

• Consolidated total income for FY2025 was ₹1,19,928.23 lakh, up from ₹90,730.39 lakh in FY2024; consolidated net profit after tax was ₹52,632.64 lakh, compared to ₹41,955.41 lakh in FY2024.

• Standalone yearly income rose 33% to INR 985 crore, with net profit up 27% to INR 462 crore.

• Standalone operating income for Q4FY25 was ₹248 crore, up from ₹221 crore in Q3FY25; standalone net profit for Q4FY25 was ₹105 crore, down from ₹171 crore in Q3FY25 but up from ₹97 crore in Q4FY24.

• CDSL Ventures reported a 35% increase in income to INR 254 crore and a 28% rise in profit to INR 109 crore for FY2025.

• Other income included CAS charges, e-voting, e-sign, and investment income, with a sequential jump attributed to mark-to-market gains on debt investments.

Outlook and guidance

• No forward-looking financial guidance was provided; management emphasized continuous technology upgrades and market-driven growth.

• The Board remains confident in the company’s legal position regarding the Anugrah Stock & Broking Pvt. Ltd. arbitral award, with no financial impact recognized.

• The company expects continued traction in e-KYC and e-sign services as more intermediaries register and new partnerships are formed.