CompanyGraph
Central Depository Services (India) Ltd.
CDSL · NSE India · India
cdslindia.comFinancials as of FY2026
What stands out
- Valued far above the size of its business
- Most companies in its industry are interface businesses; this one is a flow business
At a glance
- Depends onDownstream position: depends on 23 industries, supplies 5
- ScaleMarket cap is $3.03B, above the global median of $1.15B
- PositionReturn on assets is 16.6%, higher than 95% of its Capital Markets peers (median 1.5%)
- Interpretations10 currently firing — 10
What this company is and how it runs — written from structure, not news.
What stands out
- Most companies in its industry are interface businesses; this one is a flow business
Sign in to view price data.
Sign inWhat the company actually pays, and whether its own cash supports it.
Dividends view
Yield
0.92%Above 5Y avg (0.90%)
Annual Rate
INR 12.75Paid annual
Payout Ratio
55.5%Sustainable
Last Ex-Dividend
Jul 17, 2026
The reported statements, read against the company's own industry.
What stands out
- Valued far above the size of its business
Financials view
Market Capitalization
290.28BINR3.03B · vs all stocks (USD)
Trailing P/E
59.58xvs Capital Markets peers
Revenue (TTM)
12.35BINR129.05M · vs all stocks (USD)
Profit Margin
36.92%vs Capital Markets peers
Beta
0.3880xvs all stocks
52-Week Change
-11.78%vs all stocks
Market Capitalization
290.28BINR3.03B · vs all stocks (USD)
Enterprise Value
273.65BINR2.86B · vs all stocks (USD)
Trailing P/E
59.58xvs Capital Markets peers
Forward P/E
45.25xvs Capital Markets peers
PEG Ratio
3.49xvs Capital Markets peers
Price to Sales (TTM)
22.77xvs Capital Markets peers
Price to Book (MRQ)
14.35xvs Capital Markets peers
Enterprise to Revenue
22.15xvs Capital Markets peers
Enterprise to EBITDA
42.08xvs Capital Markets peers
Gross Margin
67.80%vs Capital Markets peers
Profit Margin
36.92%vs Capital Markets peers
Operating Margin
38.09%vs Capital Markets peers
Return on Assets (TTM)
16.64%vs Capital Markets peers
Return on Equity (TTM)
23.91%vs Capital Markets peers
Revenue (TTM)
12.35BINR129.05M · vs all stocks (USD)
Revenue per Share (TTM)
59.11INRUpdated Aug 21, 2026Quarterly Revenue Growth
4.20%vs Capital Markets peers
EBITDA (TTM)
6.62BINR69.20M · vs all stocks (USD)
Net Income (TTM)
4.56BINR47.65M · vs all stocks (USD)
Quarterly Earnings Growth (YoY)
-20.00%vs Capital Markets peers
Operating Cash Flow (TTM)
4.67BINR48.74M · vs all stocks (USD)
Levered Free Cash Flow (TTM)
2.60BINR27.18M · vs all stocks (USD)
Trailing Annual Dividend Rate
12.75INRUpdated Aug 21, 2026Trailing Annual Dividend Yield
0.92%vs all stocks
5-Year Average Dividend Yield
0.90%vs all stocks
Payout Ratio
55.46%vs Capital Markets peers
Minority Interest (Equity)
424.61MINRFY2026 · Mar 31, 2026Revenue
11.45BINRFY2026 · Mar 31, 2026Cost of Goods Sold
3.19BINRFY2026 · Mar 31, 2026Gross Profit
8.26BINRFY2026 · Mar 31, 2026Operating Income
5.20BINR54.29M · vs all stocks (USD)
Pre-tax Income
6.09BINRFY2026 · Mar 31, 2026Income Tax Expense
1.54BINRFY2026 · Mar 31, 2026Net Income
4.55BINRFY2026 · Mar 31, 2026EBIT
6.09BINRFY2026 · Mar 31, 2026EBITDA (Income Statement)
6.75BINRFY2026 · Mar 31, 2026Other Operating Expenses
2.40BINRFY2026 · Mar 31, 2026Non-operating Interest Expense
1.74MINRFY2026 · Mar 31, 2026Minority Interests (P&L)
10.55MINRFY2026 · Mar 31, 2026Preferred Stock Dividends
0.00INRFY2026 · Mar 31, 2026Operating Cash Flow
5.46BINRFY2026 · Mar 31, 2026Free Cash Flow
4.46BINRFY2026 · Mar 31, 2026Cash & Cash Equivalents (End of Period)
514.02MINRFY2026 · Mar 31, 2026Starting Profit (CF Statement)
6.09BINRFY2026 · Mar 31, 2026Other Non-cash Items
-474.96MINRFY2026 · Mar 31, 2026Change in Accounts Receivable (CF)
-303.91MINRFY2026 · Mar 31, 2026Change in Other Assets/Liabilities
144.54MINRFY2026 · Mar 31, 2026Capital Expenditures
-992.14MINRFY2026 · Mar 31, 2026Net Intangibles (CF)
-210.01MINRFY2026 · Mar 31, 2026Net Acquisitions
0.00INRFY2026 · Mar 31, 2026Purchase of Investments
-10.33BINRFY2026 · Mar 31, 2026Sale of Investments
9.44BINRFY2026 · Mar 31, 2026Net Investing Cash Flow
-1.88BINRFY2026 · Mar 31, 2026Common Dividends Paid
-2.61BINRFY2026 · Mar 31, 2026Other Financing Charges
-12.23MINRFY2026 · Mar 31, 2026Net Financing Cash Flow
-2.62BINRFY2026 · Mar 31, 2026Shares Outstanding
209.00MSharesUpdated Aug 21, 2026Float Shares
175.78MSharesUpdated Aug 21, 2026% Held by Insiders
0.00%vs all stocks
% Held by Institutions
14.98%vs all stocks
Total Cash (MRQ)
8.09BINR84.53M · vs all stocks (USD)
Total Cash per Share (MRQ)
38.72INRUpdated Aug 21, 2026Total Debt (MRQ)
22.00MINR229.79K · vs all stocks (USD)
Total Debt to Equity (MRQ)
0.0011xvs Capital Markets peers
Current Ratio (MRQ)
2.92xvs Capital Markets peers
Book Value per Share (MRQ)
93.77INRUpdated Aug 21, 2026Total Assets
24.19BINR252.69M · vs all stocks (USD)
Total Current Assets
10.82BINRFY2026 · Mar 31, 2026Total Liabilities
4.17BINRFY2026 · Mar 31, 2026Total Non-current Assets
13.37BINRFY2026 · Mar 31, 2026Total Non-current Liabilities
458.46MINRFY2026 · Mar 31, 2026Total Current Liabilities
3.71BINRFY2026 · Mar 31, 2026Cash & Cash Equivalents
514.02MINRFY2026 · Mar 31, 2026Other Short-term Investments
8.88BINRFY2026 · Mar 31, 2026Accounts Receivable
646.12MINRFY2026 · Mar 31, 2026Accounts Payable
522.02MINRFY2026 · Mar 31, 2026Short-term Debt
11.63MINRFY2026 · Mar 31, 2026Other Current Liabilities
346.34MINRFY2026 · Mar 31, 2026Long-term Debt
10.37MINRFY2026 · Mar 31, 2026Other Non-current Liabilities
8.48MINRFY2026 · Mar 31, 2026Common Stock (Book)
2.09BINRFY2026 · Mar 31, 2026Total Shareholders' Equity
20.02BINR209.15M · vs all stocks (USD)
52-Week Low
1.12KINRUpdated Aug 21, 202652-Week High
1.67KINRUpdated Aug 21, 202652-Week Change
-11.78%vs all stocks
Beta
0.3880xvs all stocks
50-Day MA
1.34KINRUpdated Aug 21, 2026200-Day MA
1.34KINRUpdated Aug 21, 2026Avg 10-Day Volume
785.95KSharesUpdated Aug 21, 2026Avg 30-Day Volume
1.49MSharesUpdated Aug 21, 2026Diluted EPS (TTM)
22.59INRUpdated Aug 21, 202610 interpretations currently present — each is a set of fired observations whose alignment reads as one structural pattern. Click an observation to see the numbers behind it.
Screen for these patternsIs this company financially stable?
MRQ Cash Elevated Relative To Total Debt With EBITDA And FCF Elevated Relative To Total Liabilities
Cash covers most of its debt, with earnings high against its liabilities.
Reads
How does this company use capital?
Cash Backing With Revenue And Income Streaks
Revenue has risen in each of three years, profit in all three, and it holds more cash than debt.
Reads
Three Margin Ratios Elevated Across Gross, Operating, And Cash-Conversion Levels
Its gross margin and its cash margin are high for its industry, and its operating margin is high outright.
Reads
Industry-Benchmarked ROA and Margin Elevated
Returns and margins have sat in the top of its industry across five years.
Reads
Three Margin Ratios Elevated Across Gross, Operating, And Net Levels
Its gross and net margins are high for its industry, and its operating margin is high outright.
Reads
Multi-Year FCF With Growth And Margin
Three years of positive free cash flow and rising revenue, four of rising equity, and much of its sales turns into cash.
Reads
ROE, ROA, And Operating ROA Elevated
It earns more on its equity than its industry does, and on its assets too — not on borrowing alone.
Reads
Is this company growing?
Multi-Year Revenue, Profit, And Income Growth
Revenue has risen in each of three years, gross profit in each of four, and it has made a profit in all five.
Reads
Revenue Growth With Elevated Margin
Revenue up in each of five years, while its operating margin stays high.
Reads
How is this stock valued?
Down-Close Streak With Profitability
A run of down weeks on a company profitable three years running and funded by equity.
Reads
An interpretation is present only while every observation it reads stays fired (score ≥ 70). It describes what the aligned readings show — never a verdict, never a prediction.
Shared structure with peers — never a ranking.
Relationships view
Structural observations derived from financial data, industry benchmarks, and supply chain position.
Peer Positioning
Return on assets is 16.6%, higher than 95% of its Capital Markets peers (median 1.5%)Significant
Return on assets: 0.17Industry median: 0.01Industry P95: 0.13Peers compared: 78.00
Price-to-book is 14.35×, higher than 95% of its Capital Markets peers (median 1.82×)Significant
Price-to-book: 14.35Industry median: 1.82Industry P95: 11.52Peers compared: 78.00
Debt-to-equity is 0×, lower than 95% of its Capital Markets peers (median 1.01×)Notable
Debt-to-equity: 0.00Industry median: 1.01Industry P5: 0.03Peers compared: 78.00
Structural Tensions
Valued far above the size of its businessSignificant
Price-to-Sales: 22.77Revenue Growth YoY: 0.04
Most companies in its industry are interface businesses; this one is a flow businessSignificant
Industry peers: 172Share on the common pattern %: 71.00
Financial Health
High earnings qualityNotable
Earnings Quality Score: 1.07
High structural barrier to entryNotable
Barrier to Entry: 0.76
Supply Chain
Downstream position: depends on 23 industries, supplies 5Notable
Outgoing: 5.00Incoming: 23.00
High connectivity hub: 28 industry connectionsNotable
Total Connections: 28.00
Scale
Market cap is $3.03B, above the global median of $1.15BNotable
Market cap (USD): 3,032,265,968.264Global Median: 1,146,734,693.424
Levered free cash flow is $27.18M, above the global median of $16.24MNotable
Levered free cash flow (USD): 27,179,199.036Global Median: 16,239,329.704
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