Central Depository Services (India) (NSE:CDSL) EBIT: ₹6,092 Mil (TTM As of Mar. 2026)

What is Central Depository Services (India) EBIT?

Central Depository Services (India) NSE:CDSL -1.10% 97 EBIT is ₹6,092 Mil 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.

Central Depository Services (India)'s earnings before interest and taxes (EBIT) for the three months ended in Mar. 2026 was ₹1,033 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2026 was ₹6,092 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Central Depository Services (India)'s annualized ROC % for the quarter that ended in Mar. 2026 was 18.60%. Central Depository Services (India)'s annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 88.03%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Central Depository Services (India)'s Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 2.29%.

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

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Central Depository Services (India)'s annualized ROC % for the quarter that ended in Mar. 2026 is calculated as:

	ROC % (Q: Mar. 2026 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Dec. 2025 )	+	Invested Capital (Q: Mar. 2026 ))	/ count )
=	3957.484 * ( 1 - 22.7% )	/	( (0	+	16448.57)	/ 1 )
=	3059.135132	/	16448.57
=	18.60 %

where

	Invested Capital		(Q: Dec. 2025 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	0	-	0	-	( 0	-	max(0, 0	-	0	+	0	))
=	0

	Invested Capital		(Q: Mar. 2026 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	24190.315	-	630.402	-	( 9395.493	-	max(0, 3709.427	-	10820.77	+	9395.493	))
=	16448.57

Note: The Operating Income data used here is four times the quarterly (Mar. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

Central Depository Services (India)'s annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Mar. 2026 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Dec. 2025		Q: Mar. 2026
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	4130.484	/	( ( (0 + max(0, 0))	+	(4691.983 + max(-2272.981, 0)) )	/	1 )
=	4130.484	/	( ( 0	+	4691.983 )	/	1 )
=	4130.484	/	4691.983
=	88.03 %

where Working Capital is:

	Working Capital		(Q: Dec. 2025 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	0	+	0)	-	(0	+	0	+	0)
=	0

	Working Capital		(Q: Mar. 2026 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(646.118	+	0	+	778.697)	-	(630.402	+	0	+	3067.394)
=	-2272.981

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

Central Depository Services (India)'s Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Mar. 2026 )
	=	6091.59	/	266304.112
	=	2.29 %

* 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) EBIT Related Terms

Central Depository Services (India) EBIT Historical Data

* Premium members only.

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

Central Depository Services (India) EBIT Chart

Central Depository Services (India) Annual Data

Trend

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Mar24

Mar25

Mar26

EBIT

Get a 7-Day Free Trial

4,085.57

3,652.88

5,561.22

6,950.03

6,091.59

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
EBIT	Get a 7-Day Free Trial															1,272.54	1,512.31	1,826.95	1,719.71	1,032.62

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

For the Capital Markets subindustry, Central Depository Services (India)'s EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT 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) EV-to-EBIT vs Capital Markets Industry

For the Capital Markets industry and Financial Services sector, Central Depository Services (India)'s EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Central Depository Services (India)'s EV-to-EBIT falls into.

Save Embed

97GF Score

Central Depository Services (India) Ltd NSE:CDSL

EBIT is just one metric. See GF Score™, valuation, warning signs, and more.

View Full Analysis

Central Depository Services (India) EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was ₹6,092 Mil.

Frequently Asked Questions Learn more about EBIT →

What does a EBIT of ₹6,092 Mil mean?

Central Depository Services (India) (NSE:CDSL) has a EBIT of ₹6,092 Mil as of Mar. 2026. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Central Depository Services (India).

Is Central Depository Services (India)'s EBIT too high?

Central Depository Services (India)'s current EBIT is ₹6,092 Mil. 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 EBIT compare to MS and GS?

Central Depository Services (India)'s EBIT of ₹6,092 Mil 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 EBIT for a Capital Markets company?

A good EBIT depends on the Capital Markets industry context. However, EBIT 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 EBIT mean?

A high EBIT can signal that a stock is expensive relative to its fundamentals. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Central Depository Services (India). Central Depository Services (India)'s current EBIT is ₹6,092 Mil. 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 ₹1,317.00 — trading 19.1% below its estimated fair value. The current EBIT is ₹6,092 Mil. 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 EBIT calculated?

EBIT is calculated from a company's financial statements. For Central Depository Services (India) (NSE:CDSL), the current EBIT is ₹6,092 Mil 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 ₹1,317.00 is trading 19.1% 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:

EBIT: ₹6,092 Mil
GF Value™: ₹1,628.53 vs. price of ₹1,317.00 (19.1% 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

Industry Financial Services Capital Markets

Comparable Companies BOM:543235 BOM:531358 NSE:JMFINANCIL BOM:539177 BOM:540750 BOM:542773 BOM:539199 BOM:540725 BOM:533676 BOM:511551 MS GS SCHW HOOD ASX:MQG SHSE:600030 BSP:BPAC3 SZSE:300059 IBKR SHSE:601211

Address N.M Joshi Marg, Unit No. A-2501, A Wing, Marathon Futurex, Mafatlal Mills Compound, Lower Parel East, Mumbai, MH, IND, 400013

Website https://www.cdslindia.com

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

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

₹1,317.00

Price

₹1,628.53

GF Value

View NSE:CDSL Analysis

See EBIT data for all stocks →