Revenue grew 23.7% to Rs 395 crore from Rs 319 crore in the year-ago period. EBITDA increased to Rs 229 crore, while EBITDA margin expanded to 58% from 56% a year earlier.
For the quarter under review, CDSL opened around 75 lakh new demat accounts during the quarter, taking its assets under custody (AUC) beyond Rs 89 lakh crore. The company’s demat account base registered year-on-year growth of around 17% as of the end of Q2, Vora said.
Commenting on the performance, Nehal Vora, Managing Director and Chief Executive Officer of CDSL, said participation in India’s securities market continued to remain resilient despite global macroeconomic volatility. The company’s demat account base grew around 17% year-on-year as of the end of Q2.
He added that the sustained growth in market participation would encourage CDSL to further strengthen its operations and value proposition.
During the quarter, CDSL increased its investments in India International Bullion Holding IFSC Limited (IIBHL) to support the development of IT infrastructure, among other initiatives.
The company also made a strategic investment in the Open Network for Digital Commerce (ONDC), an initiative of the Department for Promotion of Industry and Internal Trade (DPIIT), under the Ministry of Commerce and Industry.Separately, CDSL’s subsidiary, Centrico Insurance Repository Limited, signed a software development partnership agreement with Shoveltech Solutions Private Limited, a company operating in the health-tech domain.
CDSL facilitates the electronic holding, settlement and transfer of securities, catering to various market participants, including depository participants, issuers, investors, registrars and transfer agents (RTAs), clearing corporations and stock exchanges. It is Asia’s first listed depository and manages over 19.34 crore demat accounts, with a network of more than 590 depository participants.
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