CDSL shares hit all-time high following Q4 profit doubling; Special dividend declared

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CDSL shares hit all-time high following Q4 profit doubling; Special dividend declared

Team FS

06/May/2024

Key Points:

Market Rally: Shares of Central Depository Services India Ltd. (CDSL) skyrocket by 6% to reach an all-time high following the announcement of its robust March quarter results, coupled with a special dividend marking its 25th anniversary.
Financial Milestones: CDSL's consolidated net profit for FY24 witnesses an impressive 52% surge from the previous fiscal year, with the March quarter alone doubling its net profit to ₹129 crore. Total income sees a remarkable 86% increase year-on-year, reflecting the company's strong financial performance.
Demat Account Surge: CDSL experiences a historic milestone with over 11.56 crore demat accounts as of March 31, 2024, fueled by the addition of 3.26 crore new accounts in FY24. The company's market capitalization crosses ₹22,500 crore, highlighting investor confidence and market buoyancy.

In the dynamic landscape of India's stock market, Central Depository Services India Ltd. (CDSL) emerges as a shining beacon of success and resilience, propelling to new heights with an exceptional performance in the March quarter. As the company celebrates its 25th anniversary, investors and stakeholders alike are greeted with a flurry of positive news, fueling optimism and excitement in the market.

The market rally on Monday witnessed CDSL's shares surge by an impressive 6%, soaring to unprecedented levels and setting a new record high. This remarkable feat comes on the heels of the company's stellar March quarter results, which not only surpassed expectations but also signaled a strong upward trajectory for the business. Adding to the jubilation, CDSL announces a special dividend to commemorate its silver jubilee, further cementing its position as a market leader and investor favorite.

Delving into the financial realm, CDSL's consolidated net profit for FY24 showcases a remarkable 52% increase from the previous fiscal year, underscoring the company's robust growth and operational efficiency. The March quarter proves to be particularly lucrative, with the consolidated net profit doubling to ₹129 crore, a testament to CDSL's unwavering commitment to delivering value to its shareholders. Total income for the quarter witnesses a staggering 86% surge compared to the previous year, reflecting the company's solid revenue generation capabilities and market dominance.

Beyond financial metrics, CDSL's exponential growth is further exemplified by its burgeoning demat account base, which stands at over 11.56 crore as of March 31, 2024. The company adds a remarkable 3.26 crore new demat accounts in FY24, with nearly one-third of them registered in the January-March quarter alone, marking the highest quarterly registration in CDSL's history. This surge in demat accounts not only reflects the growing investor interest in capital markets but also underscores CDSL's pivotal role in facilitating seamless and efficient trading and investment activities.

As investors bask in the glow of CDSL's success, the company's market capitalization crosses the monumental mark of ₹22,500 crore, signaling a resounding vote of confidence from the investor community. With shares trading at ₹2,155.5, marking an 18% increase in 2024 and a remarkable 110% return over the last 12 months, CDSL continues to set new benchmarks for growth and value creation in India's thriving stock market ecosystem. As the company embarks on its next chapter of growth and innovation, the future looks brighter than ever for CDSL and its stakeholders.

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CDSL shares hit all-time high following Q4 profit doubling; Special dividend declared

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