Shares of Central Depository Services Limited (CDSL) rose by 6% on early trading hours on May 6, after CDSL reported a 52% increase in annual profit after tax and a 105% increase in quarterly profit after tax, year on year. The results are for the year and quarter ended March 31, 2024.

According to the company’s recent regulatory filing, CDSL also announced that it became the first depository to register over 11.56 crore Demat accounts in March 2024. During the fiscal year 2023-24, over 3.26 crore new Demat accounts were opened. 

Central Depository Services India Limited (CDSL) is Asia’s only listed depository that provides secure and affordable depository services to all market participants. 

CDSL maintains and services over 11.56 crore Demat accounts of Investors or Beneficial Owners (BOs) across India. These BOs are served by CDSL’s 580 plus Depository Participants (DPs) from over 20,000 plus locations.

A record-breaking 1.09 crore of these accounts were registered in Q4 FY 23-24 alone, the highest quarterly registration of Demat accounts in CDSL’s history.

The Board also recommended a final dividend of Rs 19 per equity share for FY 23-24, subject to shareholder approval. 

Additionally, to commemorate the 25-year Silver Jubilee celebrations, a special dividend of Rs 3 per equity share was recommended, bringing the total dividend payout to Rs 22 per equity share, subject to the approval of shareholders.

CDSL, along with its subsidiaries, provides a variety of services to financial intermediaries and markets. These include CDSL Ventures Limited (CVL), CDSL Insurance Repository Limited (CDSLIR), and CDSL Commodity Repository Limited (CCRL). 

CVL is a wholly-owned subsidiary of CDSL and is the largest KYC Registration Agency. CDSLIR is registered under the Companies Act, 1956 and acts as an ‘Insurance Repository.’

CCRL allows farmers, farmer producer organizations (FPOs), and manufacturers, to obtain electronic warehouse receipts (eNWRs or eNNWRs) in a demat account against the deposit of commodities in any of the warehouses registered with the Warehousing Development and Regulatory Authority (WDRA).

At 3:30 pm, the shares of CDSL closed 3.24% higher at Rs 2,147.00 on NSE.