BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Securities Report
Central Depository Services (India) Ltd. revenue grew 12% YoY in Q1 FY21. Surge in retail participation led to strong 108% YoY growth in transaction revenue in Q1 FY21.
Annual issuer charges and online data revenue were 8% and 29%, respectively. Annual issuer charges grew by a slower pace of 8% YoY as fewer companies were added in Q1 FY21.
Weak market sentiment impacted the initial public offering /corporate action charges (down 5% YoY), while other revenues declined 45% due to absence of government order in Q1 FY21 (this business stream was margin dilutive).
Margins grew from 39% in Q1 FY20 to 58% in Q1 FY21 as employee cost declined 30% YoY on account of reversal of bonus provisions while other expenditure declined 29% YoY.
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