Capitaline

Analyst Meet / AGM 30-Oct-18

Conference Call

Central Depository Services

Market share rises to 47.6% end September 2018

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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