Close 2026-08-21 1267 scanned A

CDSL

Central Depository Services (India) Limited
Financial ServicesLarge capRs 29,028 crRs 112.5 cr traded a day
Close on 2026-08-21
1,388.90
+3.19%
52-week range50% of the way up
1,119.401,655.30
Market cap
29,028 cr
P/E (TTM)
52.3×
industry 17×
EPS (TTM)
26.57
Revenue YoY
+29.7%
Q3 FY25
Profit YoY
+20.8%
Net margin
46.7%
-3.4pt vs a year ago
Growth trend
-25.8pt
vs last quarter’s YoY
1 month
+4.9%
Below 52w high
19.2%
RSI (14)
68
Daily swing
1.9%
average true range
Volume
3.3×
vs 20-day average
Traded
Rs 113 cr
median day
Close200-day averageMaterial filing
1,2001,4001,600Aug 25Oct 25Dec 25Feb 26Apr 26Jun 26Aug 26
260 sessions · hover for the filing behind a move
1 week
+3.31%
1 month
+4.95%
3 months
+13.26%
6 months
+7.18%
1 year
−7.95%

The read

written from the numbers on this page
The evidence leans constructive6 supporting, 4 against, 1 worth knowing

Supporting

  • trading 4% above its 200-day average
  • matches macd just turned positive, which has beaten the market by +0.49 points over 20 sessions across 13,521 past signals
  • 2 of the scans it matches have a positive measured record
  • 4 independent kinds of evidence agree today, which is uncommon
  • revenue grew 30% year on year in the quarter ending 2024-12-31
  • the future trades at a 0.52% premium to spot

Against

  • down 8% over twelve months
  • 2 of the scans it matches have historically underperformed the market
  • net margin has narrowed from 53.7% to 46.7% across four quarters
  • priced at 52× earnings against an industry median of 17× — 205% above its peers

Worth knowing

  • the rise is short covering rather than fresh buying, which historically runs out when the shorts are done
The most recent financials the exchange publishes for CDSL are 20 months old, so everything above about the business is history rather than a current read.
What would change this read: a close below 1,342, its 200-day average.
Assembled automatically from the figures on this page — the scans matched, their measured record, the filed financials, the derivatives positioning and the peer comparison. It is not a recommendation, no one has spoken to the company, and every claim above can be checked against a number further down this page.

What is working, what is not

read from the filings, with the figure behind every line
Working3

Profit rose year on year in all 4 of the last 4 quarters.

4

Revenue +29.7% year on year, Rs 214 cr to Rs 278 cr.

+29.7%Rs 214 crRs 278 cr

Net profit +20.8% year on year, Rs 107 cr to Rs 130 cr.

+20.8%Rs 107 crRs 130 cr
Needs watching2

Net margin moved from 50.1% to 46.7%.

50.1%46.7%

Profit grew slower than revenue, +20.8% against +29.7%.

+20.8%+29.7%
Every figure here is computed from the company’s own filings. The wording is generated directly from the figures.

How it has performed

price return over each window, measured against zero
+3.3%1W+4.9%1M+13.3%3M+7.2%6M-8.0%1Y

What the scans say today

8 of 47 matched on 2026-08-21
CDSL matches 8 of the 47 scans today, across 4 different kinds of evidence. Three or more independent families agreeing is uncommon — it is the same test the shortlist on every page uses.

Valuation against its own history

500 sessions since 2024-09-06
44×
median 55×
69×
now 52×
CDSL trades at 52× trailing earnings, close to its median of 55× over this window. The band runs from the 5th to the 95th percentile, so single-day spikes do not set the edges.
This window is short by the standards of valuation history — it begins where four quarters of filed earnings first exist. A stock can look cheap against two years and expensive against ten.

The business

from the company’s filed results
These figures are 20 months old. The most recent quarter the exchange feed publishes for this company ended 2024-12-31. Treat the growth rates below as history, not as a current read — the business may look quite different now.
Everything below is taken from the company’s own quarterly filing with the exchange — the XBRL document it submitted, not a vendor’s summary of it. Figures in rupees crore.
12515020721424125732227850.6%53.7%46.7%Q4 FY23Q1 FY24Q2 FY24Q3 FY24Q4 FY24Q1 FY25Q2 FY25Q3 FY25
RevenueNet profit, drawn inside its revenue barNet margin, own scale belowrupees crore, per quarter as filed. Revenue bars start at zero.

Going for it

  • revenue grew 30% against the same quarter a year earlier
  • profit rose 21% year on year
  • revenue rose in 3 of the last 4 quarters

Going against it

  • net margin narrowed from 50.3% to 46.7%
Quarter-by-quarter numbers, as filed
QuarterRevenueProfit before taxNet profitEPSNet margin
Q3 FY25
2024-12-31 · consolidated
2781681306.2346.7%
Q2 FY25
2024-09-30 · consolidated
3222241627.7550.3%
Q1 FY25
2024-06-30 · consolidated
25717413412.8452.1%
Q4 FY24
2024-03-31 · consolidated
24116612912.3753.7%
Q3 FY24
2023-12-31 · consolidated
21414610710.2850.1%
Q2 FY24
2023-09-30 · consolidated
20714610910.4252.6%
Quarterly filings are unaudited unless stated. Consolidated figures are used where the company files both. A single quarter is a noisy thing — the trend across the column is worth more than the top row.

Where the price stands

the same figures every scan on this site is computed from
Trend
Distance from the averages traders watch. Above all of them is a bull phase; below the 200-day is the line most investors use to say otherwise.
Versus 50-day average+3.1%
Versus 200-day average+3.5%
Below 52-week high-16.1%
Above 52-week low+24.1%
Momentum
How hard it has been pushed lately. Above 70 on RSI is stretched, below 30 is washed out — neither is a signal on its own.
RSI (14)68.3
Higher closes in last 53 of 5
Six-month return+7.18%
Risk and liquidity
What a position costs to hold and to exit. Position sizing starts with the daily swing, not with conviction.
Typical daily swing (ATR)1.94%
Volume versus 20-day3.3x
Median daily turnoverRs 112.5 cr

Derivatives

near expiry 2026-08-25 · 2026-08-20
Short Covering
Price up, open interest down. Sellers are closing, not buyers arriving. Rallies built only on this tend not to last once the shorts are out.
Futures basis versus spot+0.52%
Open interest change-10.1%
Put / call ratio0.58
Put wall (support)1,340
Call wall (resistance)1,400
Max pain1,360
How to read this
Open interest is contracts still open, so a rise means new positions and a fall means positions closing. Combined with price direction that gives the state on the left. The walls are the strikes carrying the most open interest near expiry — levels other people are watching, not levels the price is obliged to respect. A future below spot means sellers are paying to be short.

Peers

Financial Services · 116 classified companies
CDSL trades at 52.3× trailing earnings against an industry median of 17.2× across 98 other classified companies in its industry — more expensive than them, by 205%. A multiple is a statement about expectations, not about quality: cheap usually means the market expects less, and it is often right.
CompanyMarket cap (Rs cr)P/E1 month1 yearTurnover (Rs cr)
HDFCBANK1,119,59813.8−2.72%−23.03%1,892.2
ICICIBANK1,018,80717.1−1.02%+1.85%1,533.6
SBIN968,01311.3+3.57%+30.45%918.6
BAJFINANCE681,18933.0+5.31%+23.02%738.2
KOTAKBANK400,65319.5+5.07%+3.68%372.3
AXISBANK387,54313.9+1.86%+17.95%718.6
SHRIRAMFIN265,87821.7+10.16%+93.29%425.4
JIOFIN161,11778.0+4.65%−21.73%340.3
CHOLAFIN158,89627.6+8.48%+30.15%252.3
TATACAP153,945+6.91%51.2
UNIONBANK140,0396.9+8.94%+43.70%181.3
CDSL29,02852.3+4.95%−7.95%112.5
largest twelve by market capitalisation. Market cap and P/E need filed financials, so blanks are companies whose filings have not been read yet

Recent sessions

what this stock has matched since the engine went live
This is the live record, not the backtest — the scans this stock actually appeared in on each stored session. A name that keeps reappearing is in a persistent condition; a one-day appearance usually is not.
SessionScansWhich
2026-08-211MACD just turned positive
2026-08-192Lost the 200-day line, MACD just turned negative