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Results
01-Nov-21
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Analysis
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Central Depository Services (India)
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Sustains robust performance
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Central
Depository Services has reported 76% surge in consolidated net profit to Rs 85.92
crore for the quarter ended September 2021. The consolidated revenue of the
company increased 64% to Rs 145.97 crore in Q2FY2022.
Operating
margin (OPM) increased by 701 bps to 67.95%. As a result, the operating profit
(OP) climbed up 82% to Rs 67.95 crore. Other income galloped 61% to Rs 19.18 crore.
Depreciation moved up 18% to Rs 3.06 crore. PBT jumped 81% to Rs 115.31 crore
in Q2FY2022.
The tax
expenses were up by 94% to Rs 28.73 crore. The effective tax rate was flat at 25%.
The PAT before MI gained 76% to Rs 86.06 crore. After accounting loss of Rs 0.14
crore in in Minority interest, the Net Profit, as a result, grew by 76% to Rs 85.92
crore.
Book value of the
company stood at Rs 80 per share at end June 2021.
Business
performance Highlights
CDSL
became the first depository to register 4 crore demat accounts in July 2021.
68 lakh
demat accounts were opened in Q2FY22, highest ever quarterly addition, (Q2FY21-29
lakhs).
Value
of Securities in Demat Custody (In crores) increased to 35.21 lakh crore end September
2021.
In the
period ended September 2021, the company through its subsidiary CVL continued
to generate capital market investor records under CVL and being the first and largest
KYC Registration Agency (KRA) in the country.
Management
comments
Nehal Vora, MD & CEO said, “We are happy to present another quarter of our
strong and robust business and financial performance. Our growth in the past
six months is a representation of the successful execution of our vision to
make every investor self-sufficient and independent.
The
Indian capital markets also witnessed an unprecedent growth which was supported
by participation of new investors in the markets, IPOs, etc. The said growth is
also a result of the efforts of the regulators and every Market Infrastructure
Institution that has ensured that every investor becomes Atmanirbhar and can
operate from the comfort of their own homes. The ease of business and secured
services focused on providing convenience to all investors remains the core
reason of our growth. We are humbled by the faith shown in us in this expansion
journey.
We will continue to drive our strategy
and approach while delivering services that are primarily focused to be safe
and dependable for all the market participants, with our core philosophy of
good governance.”
Financial Performance H1FY2022
For half
year ended September 2021, Sales of the company were up 70% to Rs 263.25 crore.
OPM zoomed by 587 bps to 65.7%, thus, OP galloped 87% at Rs 172.94 crore. Other income declined 3% to Rs 31.69 crore. Depreciation
declined 7% at Rs 4.70 crore. There was loss of Rs 0.52 crore from associates. PBT
moved up 66% to Rs 199.40 crore.
The effective tax
rate rose 438 bps to 24.7%. Thus, the PAT before MI gained 57% to Rs 150.06 crore.
After accounting loss of Rs 0.26 crore in Minority interest, the Net Profit, as
a result, grew by 58% to Rs 149.80 crore in H1FY2022.
Central Depository Services
(India) : Consolidated Results
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Particulars
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2109 (3)
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2009 (3)
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Var %
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2109 (6)
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2009 (6)
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Var %
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2103 (12)
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2003 (12)
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Var %
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Sales
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145.97
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89.21
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64
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263.25
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154.47
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70
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343.72
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225.11
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53
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OPM %
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67.95
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60.95
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65.69
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59.82
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61.63
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46.28
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OP
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99.19
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54.37
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82
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172.94
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92.41
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87
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211.83
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104.19
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103
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Other Income
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19.18
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11.95
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61
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31.69
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32.71
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-3
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56.92
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59.15
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-4
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PBIDT
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118.37
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66.32
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78
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204.63
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125.12
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64
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268.75
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163.34
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65
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Interest
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0.00
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0.01
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-100
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0.01
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0.01
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0
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0.02
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0.03
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-33
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PBDT
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118.37
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66.31
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79
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204.62
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125.11
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64
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268.73
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163.31
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65
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Depreciation
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3.06
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2.60
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18
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4.70
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5.06
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-7
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9.20
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11.73
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-22
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PBT
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115.31
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63.71
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81
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199.92
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120.04
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67
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259.53
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151.58
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71
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Share of P&L from
Associate
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-0.52
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0.00
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-
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-0.52
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0.00
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-
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0.00
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0.00
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-
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PBT before EO
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114.79
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63.71
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80
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199.40
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120.04
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66
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259.53
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151.58
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71
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EO
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0.00
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0.00
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-
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0.00
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0.00
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-
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0.00
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-15.14
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-
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PBT After EO
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114.79
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63.71
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80
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199.40
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120.04
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66
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259.53
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136.45
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90
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Tax
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28.73
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14.84
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94
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49.34
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24.45
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102
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58.26
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31.47
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85
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PAT before MI
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86.06
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48.87
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76
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150.06
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95.59
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57
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201.27
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104.97
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92
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MI and share of
associates
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0.14
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0.12
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17
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0.26
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0.68
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-62
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0.93
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0.56
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66
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PAT
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85.92
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48.75
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76
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149.80
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94.91
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58
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200.34
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104.41
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92
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PPA
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0.00
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0.00
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-
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0.00
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0.00
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-
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0.00
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1.74
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-
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PAT after PPA
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85.92
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48.75
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76
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149.80
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94.91
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58
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200.34
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106.16
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89
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EPS*
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32.9
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18.7
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28.7
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18.2
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19.2
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11.3
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* Annualized on current equity of
Rs 104.5 crore. Face Value: Rs 10 per share, Figures in Rs crore, EPS is
calculated after excluding EO and relevant tax
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Source: Capitaline Corporate
Database
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