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3mo ago

CDSL Q4 Profit Drops Even as Revenue Rises

Rising expenses compressed margins, cutting full-year profit.

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Nuvama has also cut its earnings estimates for the coming years, leading to a sharp reduction in target price. (Pic source: AI generated image for representational purposes)
CDSL's board approved a final dividend of Rs 12.75 per share for FY26.

Overview

  • CDSL reported March-quarter profit after tax of Rs 80 crore even as revenue from operations increased 17% to about Rs 263 crore.
  • Total income reached roughly Rs 268.4 crore, which was up year on year but 20% lower than the December quarter, and the EBITDA margin narrowed to 44.4% from 48.7% a year earlier.
  • For FY26, consolidated net profit fell 13.5% to Rs 455.1 crore as annual expenses rose 23% to Rs 625.4 crore.
  • The board recommended a final dividend of Rs 12.75 per share for FY26, close to last year’s Rs 12.50 payout.
  • Shares declined and Nuvama downgraded the stock to Hold with a Rs 1,250 target after weaker sequential revenue from IPO and corporate action fees and higher technology spending.