Central Depository Services (CDSL) CDSL
India's larger depository by accounts (~19 crore, Aug 2026) - the default for discount brokers' retail clients
Mapped in 1 theme: Capital Markets.
Where Central Depository Services (CDSL) sits in the supply chain
Central Depository Services (CDSL) appears in 1 supply-chain layer in one theme, Capital Markets.
Revenue and profit
| ₹ Cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 551 | 555 | 812 | 1,082 | 1,145 |
| Net profit | 312 | 276 | 420 | 526 | 455 |
Latest-year revenue ₹1,145 Cr (FY26, company-wide).
Strengths
- Holds about four in five demat accounts - every new retail investor adds to its base
- Annual issuer fees, KYC (CVL) and e-voting give income beyond trading
- Debt-free, with high margins
Risks
- Debit and transaction fees fall when retail trading slows
- Rising technology and regulatory costs kept margins under pressure in FY26
- SEBI fee decisions set its prices
Common questions
What does Central Depository Services (CDSL) do?
India's larger depository by accounts (~19 crore, Aug 2026) - the default for discount brokers' retail clients.
Where does Central Depository Services (CDSL) sit in the supply chain?
Central Depository Services (CDSL) (NSE: CDSL) is mapped in 1 supply-chain layer: Depositories (Capital Markets).
Who are Central Depository Services (CDSL)'s peers?
In the Depositories layer of Capital Markets: National Securities Depository (NSDL).
What is Central Depository Services (CDSL)'s market cap and valuation?
As of 6 Nov 2026: market cap ₹27,826 Cr, P/E 55.1x, ROCE 32.0%, ROE 24.5%, dividend yield 0.96%.