Central Depository Services (India) Ltd.

NSE: CDSL

Expensive Performer

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1526.50 3.80 (0.25%)

45.73% Gain from 52W Low

907.1K NSE Volume

NSE 12 Dec, 2025 3:31 PM (IST)

31,903.8

Market Cap

Market Runner Up

Beta 1Year

Very High Volatility

Central Depository Services (India) Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for CDSL, Central Depository Services (India) Ltd.

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Central Depository Services (India) Ltd.

06 Nov 2025

1526.50

0.25%

Earnings improvement back on track with better market momentum

Hold: Central Depository Service...

ICICI Securities Limited

Depositories remain a structural play on India’s capital markets, buoyed by higher retail participation and distinguished by a mix of annuity and transaction-based business.

Number of FII/FPI investors decreased from 313 to 300 in Sep 2025 qtr

Central Depository Services (India) Ltd.

03 Nov 2025

1526.50

0.25%

Strong revenue traction; opex elevated

Neutral: Central Depository Service...

Target

Motilal Oswal

CDSL’s operating revenue declined 1% YoY but grew 23% QoQ to INR3.2b (7% beat) in 2QFY26.

Central Depository S.. has an average target of 1510.00 from 2 brokers.

Central Depository Services (India) Ltd.

03 Nov 2025

1526.50

0.25%

Strong revenue traction; opex elevated

ipo note: Central Depository Service...

Motilal Oswal

CDSL’s operating revenue declined 1% YoY but grew 23% QoQ to INR3.2b (7%
beat) in 2QFY26. The sequential growth was propelled by a 195% growth in IPO &
corporate action charges and 28% growth in online data charges.

Central Depository Services (India) Ltd. is trading below its 30 day SMA of 1582.1

Central Depository Services (India) Ltd.

03 Nov 2025

1526.50

0.25%

Strong revenue traction; opex elevated

ipo note: Central Depository Service...

Motilal Oswal

CDSL’s operating revenue declined 1% YoY but grew 23% QoQ to INR3.2b (7% beat) in 2QFY26. The sequential growth was propelled by a 195% growth in IPO & corporate action charges and 28% growth in online data charges.

Central Depository Services (India) Ltd. is trading above its 200 day SMA of 1495.7

Central Depository Services (India) Ltd.

03 Nov 2025

1526.50

0.25%

Strong revenue traction; opex elevated

ipo note: Central Depository Service...

Motilal Oswal

CDSL’s operating revenue declined 1% YoY but grew 23% QoQ to INR3.2b (7% beat) in 2QFY26. The sequential growth was propelled by a 195% growth in IPO & corporate action charges and 28% growth in online data charges.

Central Depository Services (India) Ltd. is trading below its 30 day SMA of 1582.1

Central Depository Services (India) Ltd.

03 Nov 2025

1526.50

0.25%

Strong revenue traction; opex elevated

ipo note: Central Depository Service...

Motilal Oswal

CDSL’s operating revenue declined 1% YoY but grew 23% QoQ to INR3.2b (7% beat) in 2QFY26. The sequential growth was propelled by a 195% growth in IPO & corporate action charges and 28% growth in online data charges. For 1HFY26, its revenue remained flat YoY at INR5.8b.

Central Depository Services (India) Ltd. is trading above its 200 day SMA of 1495.7

Central Depository Services (India) Ltd.

03 Nov 2025

1526.50

0.25%

Strong revenue traction; opex elevated

ipo note: Central Depository Service...

Motilal Oswal

CDSL’s operating revenue declined 1% YoY but grew 23% QoQ to INR3.2b (7% beat) in 2QFY26. The sequential growth was propelled by a 195% growth in IPO & corporate action charges and 28% growth in online data charges. For 1HFY26, its revenue remained flat YoY at INR5.8b.

Central Depository Services (India) Ltd. is trading below its 30 day SMA of 1582.1

Central Depository Services (India) Ltd.

01 Nov 2025

1526.50

0.25%

Strong revenue traction; opex elevated

ipo note: Central Depository Service...

Motilal Oswal

CDSL’s operating revenue declined 1% YoY but grew 23% QoQ to INR3.2b (7% beat) in 2QFY26. The sequential growth was propelled by a 195% growth in IPO & corporate action charges and 28% growth in online data charges.

Central Depository Services (India) Ltd. is trading below its 30 day SMA of 1582.1

Central Depository Services (India) Ltd.

05 May 2025

1526.50

0.25%

Weak operating performance

Neutral: Central Depository Service...

Target

Motilal Oswal

CDSL’s operating revenue declined 7% YoY and 19% QoQ to INR2.2b (7% miss), primarily due to a 36%/29% YoY decline in transaction revenue/online data charges. For FY25, the company’s revenue grew 33% YoY to INR10.8b.

Number of FII/FPI investors decreased from 313 to 300 in Sep 2025 qtr

Central Depository Services (India) Ltd.

27 Jan 2025

1526.50

0.25%

Weak transaction income; high tech costs impact PAT

Neutral: Central Depository Service...

Motilal Oswal

CDSL’s operating revenue grew 30% YoY to INR2.8b (10% miss) in 3QFY25, driven by 27%/87% YoY growth in Annual Issuer Charges/IPO and Corporate Action Charges. For 9MFY25, revenues rose 50% YoY to INR8.6b.

Number of FII/FPI investors decreased from 313 to 300 in Sep 2025 qtr

Is Central Depository Services (India) Ltd. worth buying?

1462 Votes:

Buy 80.03%

Sell 10.19%

Hold 9.78%

RESEARCH REPORTS

Hold SEE REPORTS >

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Neutral SEE REPORTS >

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