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Analyst Meet / AGM
23-Apr-18
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Conference Call
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Central Depository Services
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Gains demat accounts share to 46% from 44% last year
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Central Depository Services conducted a conference call on 23 April 2018 to discuss the financial results of the company for quarter ended March 2018. PS Reddy, MD&CEO of the company addressed the call:
Highlights:
- The operating income of the company increased at the healthy pace of 31% to Rs 191.02 crore, while the net profit increased 20% to Rs 103.64 crore in FY2018 over FY2017.
- The other income has declined 15% to Rs 34.65 crore, as the yield on investment decline to 8.18% from 9.69% last year, while investment in new office space also reduced investment income. As per the company, about 90% of its investments are in mutual funds.
- The breakup of revenues shows that annual issuance charges have increased 8% to Rs 55.62 crore in FY2018 from Rs 51 crore in FY2017, transaction charges have jumped 41% to Rs 44 crore from Rs 31 crore, IPO corporate changes have galloped 79% to Rs 29.48 crore from Rs 16.5 crore and online data charges have moved up 56% to Rs 29.18 crore from Rs 18.7 crore.
- The company has continued to maintain higher incremental demat account opening market share of 65% in Q4FY2018. An incremental account opening share has increased to 63% in FY2018 from 59% in FY2017, while the company has increased market share, on outstanding basis, to 46% end March 2018 from 44% a year ago.
- The company has opened new 25.72 lakh demat accounts against 15.11 lakh account opened by the competitor in FY2018.
- The new accounts opening growth is driven by facilities such as online account opening and increase in empanelment with exclusive DPs to 594 end March 2018.
- About 7536 listed companies and overall 10628 companies, including unlisted companies, are registered with CDSL.
- CDSL Venture has recorded 38% growth in net profit to Rs 24 crore, driven by 51% growth in the operating income. The company has created 22 lakh e-KYCs in FY2018.
- The company inaugurated CDSL Commodities Depository in September 2017, as registered 23 DPs and opened few accounts. The company has not yet generated any revenue, except investment income.
- As per the company the national academic depository has signed contract with 231 academic institutions against 190 institutions signed by the competitor. The company also received letter of intent from 47 universities.
- The company has announced 35% dividend with payout ratio at 57% for FY2018, which is maintained above 50% for last three years.
- The company expects its capex at Rs 6-7 crore for FY2019.
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