Central Depository Services (India) (NSE:CDSL) E10: ₹14.33 (As of Mar. 2026)


NSE:CDSL Central Depository Services (India) Ltd NSE:CDSL
97 GF Score
Price ₹1,305.50
GF Value ₹1,628.53
Valuation Modestly Undervalued
! 3 Warning Signs
View Full Analysis

What is Central Depository Services (India) E10?

Central Depository Services (India) NSE:CDSL +0.59% 97 E10 is ₹14.33 as of Mar. 2026. GuruFocus rates NSE:CDSL with a GF Score™ of 97/100 and a GF Value™ of ₹1,628.53 (Modestly Undervalued). The stock has 3 warning signs investors should review.

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller P/E calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years.

Central Depository Services (India)'s adjusted earnings per share data for the three months ended in Mar. 2026 was ₹3.840. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is ₹14.33 for the trailing ten years ended in Mar. 2026.

During the past 12 months, Central Depository Services (India)'s average E10 Growth Rate was 10.90% per year. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the E10 growth rate using E10 data.

As of today (2026-07-01), Central Depository Services (India)'s current stock price is ₹1305.50. Central Depository Services (India)'s E10 for the quarter that ended in Mar. 2026 was ₹14.33. Central Depository Services (India)'s Shiller PE Ratio of today is 91.10.

During the past 13 years, the highest Shiller PE Ratio of Central Depository Services (India) was 137.46. The lowest was 82.37. And the median was 107.13.


Central Depository Services (India)  (NSE:CDSL) E10 Explanation

If a company grows much fast than inflation, E10 may underestimate the company's earnings power. Shiller PE Ratio can seem to be too high even the actual P/E is low.

For the Shiller P/E, the earnings of the past 10 years are inflation-adjusted and averaged. The result is used for P/E calculation. Since it looks at the average over the last 10 years, the Shiller P/E is also called PE10.

The Shiller P/E was first used by professor Robert Shiller to measure the valuation of the overall market. The same calculation is applied here to individual companies.

Central Depository Services (India)'s Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=1305.50/14.33
=91.10

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

During the past 13 years, the highest Shiller P/E Ratio of Central Depository Services (India) was 137.46. The lowest was 82.37. And the median was 107.13.


Be Aware

Shiller PE Ratio works better for cyclical companies. It gives you a better idea on the company's real earnings power.


Central Depository Services (India) E10 Related Terms


Central Depository Services (India) E10 Historical Data

* Premium members only.

The historical data trend for Central Depository Services (India)'s E10 can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Central Depository Services (India) E10 Chart

Central Depository Services (India) Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
E10
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 0.00 0.00 12.92 14.33

Central Depository Services (India) Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
E10 Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 12.92 13.28 13.84 14.22 14.33

NSE:CDSL vs MS, GS, SCHW: E10 Comparison

For the Capital Markets subindustry, Central Depository Services (India)'s Shiller PE Ratio, along with its competitors' market caps and Shiller PE Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Central Depository Services (India) Shiller PE Ratio vs Capital Markets Industry

For the Capital Markets industry and Financial Services sector, Central Depository Services (India)'s Shiller PE Ratio distribution charts can be found below:

* The bar in red indicates where Central Depository Services (India)'s Shiller PE Ratio falls into.


NSE:CDSL
97GF Score
Central Depository Services (India) Ltd NSE:CDSL
E10 is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Central Depository Services (India) E10 Calculation

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller P/E calculation. When we calculate the today's Shiller P/E ratio of a stock, we use today's price divided by E10.

What is E10? How do we calculate E10?

E10 is the average of the inflation adjusted earnings of a company over the past 10 years. Let's use an example to explain.

If we want to calculate the E10 of Wal-Mart (WMT) for Dec. 31, 2010, we need to have the inflation data and the earnings from 2001 through 2010.

We adjusted the earnings of 2001 earnings data with the total inflation from 2001 through 2010 to the equivalent earnings in 2010. If the total inflation from 2001 to 2010 is 40%, and Wal-Mart earned $1 a share in 2001, then the 2001's equivalent earnings in 2010 is $1.4 a share. If Wal-Mart earns $1 again in 2002, and the total inflation from 2002 through 2010 is 35%, then the equivalent 2002 earnings in 2010 is $1.35. So on and so forth, you get the equivalent earnings of past 10 years. Then you add them together and divided the sum by 10 to get E10.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

For example, Central Depository Services (India)'s adjusted earnings per share data for the three months ended in Mar. 2026 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Mar. 2026 (Change)*Current CPI (Mar. 2026)
=3.84/164.2724*164.2724
=3.840

Current CPI (Mar. 2026) = 164.2724.

Central Depository Services (India) Quarterly Data

per share eps CPI Adj_EPS
201606 0.860 105.961 1.333
201609 1.155 105.961 1.791
201612 0.968 105.196 1.512
201703 1.120 105.196 1.749
201706 1.210 107.109 1.856
201709 1.280 109.021 1.929
201712 1.215 109.404 1.824
201803 1.235 109.786 1.848
201806 1.045 111.317 1.542
201809 1.435 115.142 2.047
201812 1.345 115.142 1.919
201903 1.605 118.202 2.231
201906 1.315 120.880 1.787
201909 1.405 123.175 1.874
201912 0.995 126.235 1.295
202003 1.370 124.705 1.805
202006 2.210 127.000 2.859
202009 2.335 130.118 2.948
202012 2.570 130.889 3.225
202103 2.475 131.771 3.085
202106 3.055 134.084 3.743
202109 4.110 135.847 4.970
202112 4.005 138.161 4.762
202203 3.715 138.822 4.396
202206 2.765 142.347 3.191
202209 3.845 144.661 4.366
202212 3.570 145.763 4.023
202303 3.020 146.865 3.378
202306 3.520 150.280 3.848
202309 5.210 151.492 5.650
202312 5.140 152.924 5.521
202403 6.180 153.035 6.634
202406 6.420 155.789 6.770
202409 7.750 157.882 8.064
202412 6.230 158.323 6.464
202503 4.800 157.552 5.005
202506 4.900 159.755 5.039
202509 6.710 162.289 6.792
202512 6.380 163.281 6.419
202603 3.840 164.272 3.840

Add all the adjusted EPS together and divide 10 will get our e10.

Frequently Asked Questions Learn more about E10 →
What does a E10 of ₹14.33 mean?
Central Depository Services (India) (NSE:CDSL) has a E10 of ₹14.33 as of Mar. 2026. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on Central Depository Services (India) and its competitors.
Is Central Depository Services (India)'s E10 too high?
Central Depository Services (India)'s current E10 is ₹14.33. Overall, Central Depository Services (India) has a GF Score™ of 97/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Central Depository Services (India)'s E10 compare to MS and GS?
Central Depository Services (India)'s E10 of ₹14.33 can be compared against companies in the Capital Markets industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good E10 for a Capital Markets company?
A good E10 depends on the Capital Markets industry context. However, E10 should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high E10 mean?
A high E10 can signal that a stock is expensive relative to its fundamentals. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on Central Depository Services (India) and its competitors. Central Depository Services (India)'s current E10 is ₹14.33. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Central Depository Services (India) stock overvalued right now?
Based on GuruFocus' analysis, Central Depository Services (India) (NSE:CDSL) is currently considered Modestly Undervalued. The stock's GF Value™ is ₹1,628.53, compared to a current price of ₹1,305.50 — trading 19.8% below its estimated fair value. The current E10 is ₹14.33. Central Depository Services (India)'s overall GF Score™ is 97/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is E10 calculated?
E10 is calculated from a company's financial statements. For Central Depository Services (India) (NSE:CDSL), the current E10 is ₹14.33 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Central Depository Services (India) (NSE:CDSL) Overvalued in 2026?

Based on GuruFocus' analysis, Central Depository Services (India) stock appears to be undervalued. The current stock price of ₹1,305.50 is trading 19.8% below its estimated GF Value™ of ₹1,628.53. GuruFocus considers Central Depository Services (India) to be Modestly Undervalued.

Key valuation signals for NSE:CDSL:

  • E10: ₹14.33
  • GF Value™: ₹1,628.53 vs. price of ₹1,305.50 (19.8% below fair value)
  • GF Score™: 97/100 with 3 warning signs

No single metric tells the full story. See the NSE:CDSL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Central Depository Services (India) Business Description

Address N.M Joshi Marg, Unit No. A-2501, A Wing, Marathon Futurex, Mafatlal Mills Compound, Lower Parel East, Mumbai, MH, IND, 400013
Central Depository Services (India) Ltd is a securities depository in India. It offers dematerialization for a wide range of securities, including equity shares, preference shares, mutual fund units, debt instruments, and government securities. In addition, it is involved in centralized record keeping of KYC documents of investors, and providing repository services to policyholders to store their receipts and policies in electronic form. The group operates in three segments: Depository, Data Entry, and Storage and Repository. A majority of its revenue is generated from the Depository segment, which provides various services to investors, including dematerialization, rematerialization, holding, transfer, and pledge of securities in electronic form, as well as e-voting services to companies.
97GF Score

Get the complete analysis for NSE:CDSL

E10 is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

₹1,305.50
Price
₹1,628.53
GF Value