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The BSE, founded in 1875, is Asia's oldest stock exchange — it started under a banyan tree on Dalal Street, where the bronze bull stands today.
History
The BSE, founded in 1875, is Asia's oldest stock exchange — it started under a banyan tree on Dalal Street, where the bronze bull stands today.
The BSE, founded in 1875, is Asia's oldest stock exchange — it started under a banyan tree on Dalal Street, where the bronze bull stands today.
Central Depository Services (India) Limited is engaged in the depository services business and provides services to exchanges, clearing corporations, depository participants and investors. Its segments include Depository Activity, Data Entry and Storage, and Repository.…
Weekly engine runs — movement reflects the numbers, not analyst opinion.
A decent, steadily growing business, priced for perfection.
CDSL is scored on the nbfc / financials framework. It keeps a fat 36.7% of every rupee of sales as net profit.
Over the last 3 years revenue compounded at 26%/yr and profit at 18%/yr. Book value itself has compounded 17%/yr — the hallmark of a genuine compounder. Return on equity is an elite 25.5%. In the latest quarter profit grew 47% versus the prior quarter.
At 61× earnings, the stock sits at the 81st percentile of its own 3.6-year range — the expensive end of where it has historically traded. Today's price already implies ~23%/yr earnings growth sustained for a decade — a demanding bar. The books come through clean — a forensic grade of A.
A plain-English restatement of the figures on this page — rules-based, for education and research context, not investment advice or a recommendation.
| Ratio | Company | Sector | Read |
|---|---|---|---|
| P/E | 55.24 | 10.88 | worse |
| P/B | 14.03 | — | — |
| EV/EBITDA | 37.29 | 14.13 | worse |
| ROE | 25.46 | — | — |
| ROCE | 33.77 | — | — |
| ROA | 18.5 | — | — |
| Quick Ratio | 2.92 | — | — |
| Peer | P/E | P/B | ROE |
|---|---|---|---|
| BSE | 50.5 | 19.5 | 38.8% |
| Multi Commodity Exchange | 50.0 | 25.6 | 51.2% |
| Computer AGE MNGT SER | 34.8 | 12.3 | 35.5% |
Not applicable for this sector.
Revenue has grown every year across all 4 financial years shown. 26% CAGR over 3 years — high-growth territory. Growth is decelerating — latest year grew slower than the year before.
Profit is on a 2-year growth streak. Revenue is outpacing profit (26% vs 18%) — costs are rising faster than the top line.
Operating margin has compressed from 59% to 49% — costs or competition are eating into profitability.
ROE at 23% — the business earns well above its cost of equity. ROE powered by fat margins — the hallmark of a high-quality franchise with pricing power.
EPS dropped in the latest year despite possible profit changes — dilution or a profit dip could be at play. Profit grew faster than EPS (18% vs -6%) — share dilution is eroding per-share value. -6% EPS CAGR — this is the rate at which each share's claim on earnings is compounding.
Operating cash flow has been positive every year — the business generates real cash, not just accounting profit. Heavy investing spend every year, but operations generate enough to cover it — the business self-funds its growth. Financing outflows in consecutive years — balance-sheet discipline through debt repayment or dividends.
When operating cash keeps pace with reported profit, earnings are cash-backed; a persistent shortfall is a quality flag.
Revenue rose 23% sequentially — momentum is building. Wide quarterly swings (36% spread) — likely seasonality, lumpy orders, or project-based revenue. Run-rate stepping up — recent quarters average 26% above earlier ones.
Profit jumped 47% QoQ — check if this is operating leverage or a one-off item.
How today's P/E compares to the stock's own historical range. Dashed line = the 3.6y median.
Promoters hold just 15.0% — widely held; sentiment-driven. FIIs trimmed 3.7pp — foreign money is rotating out. MF holding up 2.3pp — domestic institutional discovery underway. Both FII and MF added last quarter — broad institutional confidence.
Produced by a rules-based engine over licensed exchange fundamentals — every sentence above is derived from the numbers shown, no analyst or AI opinion involved. Education and research context, not investment advice. We are not SEBI-registered as an Investment Adviser or Research Analyst.