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Analyst Meet / AGM
31-Jul-18
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Conference Call
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Central Depository Services
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Incremental demat account share rises to 71% in Q1FY2019
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Central Depository Services conducted a conference call on 30 July 2018 to discuss the financial results of the company for quarter ended June 2018. PS Reddy, MD&CEO of the company addressed the call:
Highlights:
- The company has posted mixed performance in the quarter ended June 2018. The operating income of the company increased rose 0.2% to Rs 50.45 crore, while the net profit declined 14% to Rs 22.03 crore in Q1FY2019. The other income has declined 47% to Rs 5.17 crore. The other income of the company was impacted due to mark-to-market losses of Rs 1.94 crore in investment book.
- The breakup of revenues shows that annual issuance charges have increased 17% yoy to Rs 15.7 crore in Q1FY2019, transaction charges 12% to Rs 9.7 crore, IPO corporate action charges 28% to Rs 5.9 crore and online data charges 11% to Rs 6.9 crore.
- The number of IPOs was higher in Q1FY2019, but the size of subscription and retail participation was weak, which impacted the revenues.
- CDSL Ventures have performed well in Q1FY2019. The number of mutual fund folios has increased, but the business was attracted by the competitor.
- The numbers of BSDA demat account stood at 55 lakh.
- The company has continued to gain market share with incremental demat account share rising to 71% in Q1FY2019 and 47% at aggregate level end June 2018. The company has opened about 5.11 lakh demat account in Q1FY2019, while the aggregate demat account with the company stood 1.54 crore end June 2018. The tariff hike also provides opportunity, which is determined by the SEBI.
- On future revenue growth potential, the company indicated that there around 65 thousand unlisted public limited companies, which may would go for dematerialization. On insurance depository business side, the company is awaiting the regulation on single demat account. The meetings are taking place at high level and some development on this front is expected in next three months.
- The company provides wage hike in 2-3 years, while the previous wage hike was provided in October 2016.
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