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Analyst Meet / AGM
30-Oct-18
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Conference Call
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Central Depository Services
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Market share rises to 47.6% end September 2018
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Central Depository Services conducted a conference call on 29 October 2018 to discuss the financial results of the company for quarter ended September 2018. PS Reddy, MD&CEO of the company addressed the call:
Highlights:
- The company has posted 11% growth in the operating income to Rs 62.89 crore, while the net profit moved up 12% to Rs 30.15 crore in Q2FY2019. The other income has increased 7% to Rs 9.74 crore.
- Among the key revenue segments, the annual issuance charges have increased 18% yoy to Rs 16 crore in Q2FY2019, transaction charges 3% to Rs 10.26 crore, online data charges 54% to Rs 10.17 crore and e-voting charges 19% to Rs 3.21 crore, while IPO corporate action charges declined 27% to Rs 6.16 crore.
- The company has continued to gain market share with incremental demat account share was higher at 64% in Q2FY2019 and 47.57% at aggregate level end September 2018 up from 47% end June 2018. The aggregate demat accounts with the company increased to 1.60 crore end September 2018 from 1.54 crore end June 2018.
- The company has added a new revenue segment called VDR (Virtual Data RoM), where companies listing through IPO stores data to be used by merchant bankers, auditors etc. This segment has made revenue of Rs 3-4 lakh, while its expected to increase once more IPOs enter the market. There were no big expenses for setting up this service.
- NAD which provides services for online document storage has tied-up with 460+ universities.
- MCX Menthol settlement has been facilitated through CCRL in October 2018, while the company expects to facilitate non-agriculture and non-metal commodities clearing and settlement in Q3FY2019.
- The employee base of the company, on consolidated basis, has increased to 238 end September 2018 from 226 end June 2018 and most were recruited by CCRL.
- After Supreme Court verdict restricting use of Aadhar Card for E-KYC verification, the company is planning to go for verification through QR code, which does not require additional expenses.
- As per a new regulation, the MD of a depository and market infrastructure cannot serve as an MD for more than two terms of 5 year each. The MD of the company is completing his two terms of service as MD and he may not continue in service after 31 March 2019.
- Out of 64000 unlisted materialized public sector companies 200 companies are in the pipeline of CDSL so far for the dematerialization of shares.
- The market share in KYC stands at 60% in Q2FY2019 and the company has 1.7 crore KYC records with itself.
- The capex of the company stands at Rs 5-6 crore for FY2019.
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