Central Depository Services

Robust performance continues

May 03, 2021 11:05 IST capital market

Central Depository Services has reported 81% growth in consolidated net profit to Rs 51.74 crore for the quarter ended March 2021. The consolidated revenue of the company increased 72% to Rs 103.09 crore in Q4FY2021. Operating margin (OPM) increased by 709 bps to 61.48%. As a result, the operating profit (OP) climbed up 95% to Rs 61.48 crore. Other income declined 45% to Rs 7.17 crore. Depreciation dipped 46% to Rs 1.63 crore. PBT inclined 62% to Rs 68.92 crore in Q4FY2021.

EO stood at Rs 0 crore in Q4FY2021 compared EO expense of Rs 6.81 crore in Q4FY2020, leading PBT to surge 92% to Rs 68.92 crore. The tax expenses were up by 125% to Rs 17.28 crore. The effective tax rate increased 362 bps to 25.07%.

The PAT before MI and Share in Profit of Associates gained 84% to Rs 51.64 crore. After accounting profit of Rs 0.10 crore in Minority interest, the Net Profit grew by 81% to Rs 51.74 crore.

Business Highlights

During FY2021, 1.23 crore new active Beneficial Owners accounts were opened with CDSL taking the total number of active beneficial owners to 3.34 crore end March 2021.

In the quarter ended March 2021, 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 FY2021

For the year ended March 2021, Sales of the company were up 53% to Rs 343.72 crore. OPM jumped to 62.1% in FY2021 from 47.3% in FY2020, thus, OP jumped 101% at Rs 213.55 crore. Other income was flat at Rs 56.92 crore. After accounting for depreciation (down 22% at Rs 9.20 crore), the PBT increased 72% to Rs 261.26 crore in FY2021. After nil EO in Q4FY2021 compared with EO expense of Rs 15.14 crore in Q4FY2020, PBT jumped 91% to Rs 261.26 crore.

The effective tax rate eased 10 bps to 23.0%. Thus, the PAT before MI gained 92% to Rs 201.27 crore. After accounting loss of Rs 0.93 crore in Minority interest, the Net Profit grew by 89% to Rs 200.34 crore in FY2021.

Central Depository Services (India) : Consolidated Results

 

  Particulars 2103 (3) 2003 (3) Var % 2103 (12) 2003 (12) Var %
Sales 103.09 59.88 72 343.72 225.06 53
OPM % 61.48 54.39 62.13 47.26
OP 63.38 32.57 95 213.55 106.36 101
Other Income 7.17 13.09 -45 56.92 56.96 0
PBDT 70.55 45.67 54 270.46 163.32 66
Depreciation 1.63 3.03 -46 9.20 11.73 -22
PBT before EO 68.92 42.63 62 261.26 151.58 72
EO 0.00 -6.81 - 0.00 -15.14 -
PBT After EO 68.92 35.82 92 261.26 136.45 91
Tax 17.28 7.68 125 60.00 31.47 91
PAT before MI 51.64 28.14 84 201.27 104.98 92
MI and share of associates -0.10 -0.46 -79 0.93 0.56 65
PAT 51.74 28.60 81 200.34 104.41 92
PPA 0.00 0.00 #DIV/0! 0.00 1.74 -100
PAT after PPA 51.74 28.60 81 200.34 106.16 89
EPS* 19.8 13.0 19.2 11.3
* 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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