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Analyst Meet / AGM
01-Nov-17
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Conference Call
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Central Depository Services
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Expects new initiatives to fructify in three years
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Central Depository Services conducted a conference call on 31 October 2017 to discuss the financial results of the company for quarter ended September 2017. PS Reddy, MD&CEO of the company addressed the call:
Highlights:
- The financial results of the company were in line with market Trend.
- The company continues to exhibit strong growth, while maintaining higher incremental market share of 61% in the demat business.
- The company has recorded strong 22% growth in the operating income for the quarter ended September 2017. Income growth is driven by strong growth in most of the key sub segments such as transaction charges income rising 26%, IPO corporate charges rising 68%, KYC data online charges 41% and annual issue charges 6% in Q2FY2018.
- For the half year ended September 2017, the company has recorded annual issue charges income of Rs 27 crore compared with Rs 25 for in H1FY2017, transaction charges Rs 19 crore versus Rs 15 crore, IPO corporate charges Rs 13 crore versus Rs 8 crore, KYC data online charges Rs 13 crore versus Rs 9 crore.
- The company has recorded 8% growth in the net profit for the quarter ended September 2017.
- The expenses of the company have witnessed an increase to Rs 37 from in H1FY2018 from Rs 31 crore in H1FY2017.
- The other income of the company has declined due to decline in reserves with investment in properties of around Rs 65 to 70 crore.
- National Academic Depository, a subsidiary of the company, is performing well. The government is pushing more universities to go for digitalization of results. The company has so far signed up 150 universities.
- In E-voting services, the company remains market leader in the industry.
- The company has been taking various new initiatives, while expects all new initiatives to fructify in three years.
- The company has inaugurated CDSL Commodities Depository in September 2017. The holder of the warehousing receipts would be able to get finance against warehousing receipts.
- The company expects effective tax rate of 25% for FY2018.
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