Capitaline

Analyst Meet / AGM 30-Jul-19

Conference Call

Central Depository Services

Incremental market share jumps to 75% in Q1FY2020

Central Depository Services conducted a conference call on 29 July 2019 to discuss the financial results of the company for quarter ended June 2019. Bharat Sheth, CFO of the company addressed the call:
Highlights:

The company has opened 6.38 lakh new accounts compared with 2.17 lakh accounts opened by the other depository in Q1FY2020, while maintaining incremental market share of 75% in Q1FY2020.
The market was dull in Q1FY2020 due various uncertainties in the economy. This led to soft topline growth on sequential basis, while the revenue growth was healthy on yoy basis.
CDSL Ventures KRA performance is linked to the stock market that being weak led to lower KYC generation. The KYC generation increased to 1.93 crore from 1.88 crore a quarter ago.
The other income of the company has declined on sequential basis due to decline in mark-to-market gains.
The revenue breakup for Q1FY2020 - annual issuer income Rs 19.23 crore, transaction charges Rs 9.86 crore, consolidated account charges is Rs 2.37 crore, IPO corporate action charges Rs 5.31 crore, KYC online data charge Rs 7.64 crore.
The company has so far onboarded 550 universities in National Academics Depository, while updated about 1.71 crore records. As per the company, the pricing in National Academics Depository depends on charges per record uploaded by the universities and verification of records by verifier. The charges will be decided by the MHRD from September 2019.
The company has added 633 unlisted companies taking total number to 2037 companies end June 2019.
CDSL Warehousing Depositories has registered 970 warehouses and 1000 clients.
The total expenses of the company surged 51% to Rs 38.40 crore due to increase in employee cost with 32-33% salary hike and pension expenses also contributed to rise in expenses of the company. The company has given last salary hike in October 2016.

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