Central Depository Services

Maintains robust performance with strong new accounts addition

Feb 03, 2021 09:02 IST capital market

Central Depository Services has reported 158% growth in consolidated net profit to Rs 53.69 crore for the quarter ended December 2020. The consolidated revenue of the company increased 59% to Rs 86.13 crore in Q3FY2021.

Operating margin (OPM) increased by 1578 bps to 65.02%. As a result, the operating profit (OP) climbed up 110% to Rs 65.02 crore. Other income moved up 19% to Rs 17.07 crore. Depreciation declined-17% to Rs 2.51 crore. PBT jumped 86% to Rs 70.56 crore in Q3FY2021.

The company had settled a service tax matter of earlier by charging Rs 10.56 crore to P&L in Q3FY2020. Thus, the PBT after this EO moved up 157% to Rs 70.56 crore.

The tax expenses were up by 184% to Rs 16.53 crore. The effective tax rate increased 222 bps to 23.43%. The PAT before MI and Share in Profit of Associates gained 150% to Rs 54.03 crore. After accounting loss of Rs 0.34 crore in in Minority interest, the net profit grew by 158% to Rs 53.69 crore.

Business Highlights

The number of new active Beneficial Owners accounts with CDSL has increased by 28 lakh taking the total number of active beneficial to 2.89 crore end December 2020.

As on 31 December 2020, CDSL has 589 Depository Participants offering Depository Participants services from over 20,600 locations across the country. These Depository Participants comprise of Clearing Members, Banks, Custodians & Non-Banking Financial Companies.

The company through its subsidiary CVL continued to generate capital market investor records under CVL, and being the first and largest KYC Registration Agency (KRA) in the country.

The company has also initiated new services in line with transformation and requirements of the current times to promote GoDigital. In addition to e-voting services, the company also offers services to hold Annual General Meeting through Video conference, to make AGM a hassle free event for the shareholders and the company. The company also provides email updation services to companies to update their shareholder database, to ensure that the dissemination of communication to the shareholders is valid, sufficient and productive.

Financial Performance 9MFY2021

For Nine Months ended December 2020, Sales of the company were up 46% to Rs 240.63 crore. OPM jumped by 1700 bps to 61.7%, thus, OP zoomed 101% at Rs 148.42 crore. Other income advanced 8% to Rs 49.75 crore. After accounting for depreciation (down 13% at Rs 7.57 crore), the PBT increased 71% to Rs 190.60 crore in FY2020. After EO last year, PBT jumped 89% to Rs 190.60 crore.

The effective tax rate rose 324 bps to 25.2%. Thus, the PAT before MI gained 82% to Rs 142.66 crore. After accounting for Rs 1.02 crore in Minority interest, the Net Profit, as a result, grew by 83% to Rs 141.64 crore in FY2020.

Central Depository Services (India) : Consolidated Results

 

  Particulars 2012 (3) 1912 (3) Var % 2012 (9) 1912 (9) Var % 2003 (12) 1903 (12) Var %
Sales 86.13 54.13 59 240.63 165.21 46 225.06 196.25 15
OPM % 65.02 49.23 61.68 44.68 38 47.26 55.50
OP 56.00 26.65 110 148.42 73.82 101 106.36 108.93 -2
Other Income 17.07 14.36 19 49.75 46.06 8 56.96 49.19 16
PBDT 73.07 41.01 78 198.17 119.88 65 163.32 158.12 3
Depreciation 2.51 3.03 -17 7.57 8.70 -13 11.73 9.92 18
PBT before EO 70.56 37.98 86 190.60 111.18 71 151.58 148.21 2
EO 0.00 10.56 - 0.00 10.56 - 15.14 0.00 -
PBT After EO 70.56 27.42 157 190.60 100.62 89 136.45 148.21 -8
Tax 16.53 5.82 184 47.94 22.05 117 31.47 33.38 -6
PAT before MI 54.03 21.61 150 142.66 78.58 82 104.98 114.83 -9
MI and share of associates 0.34 0.79 -57 1.02 1.02 0 0.56 1.31 -57
PAT 53.69 20.81 158 141.64 77.56 83 104.41 113.51 -8
PPA 0.00 0.00 - 0.00 0.00 - 1.74 0.00 -
PAT after PPA 53.69 20.81 158 141.64 77.56 83 106.16 113.51 -6
EPS* 20.6 11.2 18.1 10.9 11.3 10.9
* Annualized on current equity of Rs 104.5 crore. Face Value: Rs 10 per share, Figures in Rs crore, EPS is calculated after excluding EO and relevant tax
Source: Capitaline Corporate Database

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