CDSL Share Price: 17.0% CAGR in 3 Years as the Depository Compares With CAMS and KFin Technologies
- November 11, 2026
- Posted by: Ankit Jaiswal
- Category: Best Stocks
CDSL Share Price: 17.0% CAGR in 3 Years as the Depository Compares With CAMS and KFin Technologies
CDSL previous close Rs 1,356. 3-year CAGR 17.0%. Up 1.6x since 9 Nov 2023. ROE 25.46%. Market cap Rs 28,340 crore.
Quick Answer
The CDSL share price closed at Rs 1,356 on 9 November 2026, a compounded annual return of 17.0% over three years. That compares with Computer Age Management Services at 14.4% and KFin Technologies at 21.5%. The company has a market cap of Rs 28,340 crore and a P/E of 56.27 against an industry P/E of 44.49.
The CDSL share price has delivered a solid return over three years, and that makes Central Depository Services (India) a leading name in market infrastructure. The Mumbai-based depository holds shares and other securities in electronic form for millions of demat account holders.
This article compares that run with CAMS and KFin Technologies. We calculate the three-year CAGR for all three and set the results beside market cap, valuation, return on equity and debt, using prices adjusted for corporate actions.
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How Much Has the CDSL Share Price Returned in 3 Years?
The CDSL stock closed at Rs 846.38 on 9 November 2023 and at Rs 1,356.00 on 9 November 2026. Rs 1 lakh invested three years ago would have grown to about Rs 1.60 lakh, which is a CAGR of 17.0%. This is a price return and leaves out dividends.
CAGR condenses a bumpy three-year ride into one yearly number, which is why it is the fairest way to compare companies of different sizes. A stock such as CDSL can look spectacular on a chart and still have earned a modest yearly return, so the compounded figure keeps the comparison honest.
The CDSL share price has also followed the rise in demat accounts and the higher trading and investing activity that came with new retail investors.
CDSL vs Computer Age Management Services and KFin Technologies: 3-Year CAGR Compared
The table ranks the companies by three-year CAGR. Prices on 9 November 2023 are adjusted for splits and bonuses, and the latest figures are the previous close on 9 November 2026.
| Company | Close on 9 Nov 2023 | Previous close (9 Nov 2026) | Price multiple | 3-year CAGR |
|---|---|---|---|---|
| KFin Technologies | Rs 509.30 | Rs 914.50 | 1.8x | 21.5% |
| Central Depository Services | Rs 846.38 | Rs 1,356.00 | 1.6x | 17.0% |
| Computer Age Management Services | Rs 475.26 | Rs 711.15 | 1.5x | 14.4% |
The CDSL stock ranks second of the three at 17.0%. It sits ahead of Computer Age Management Services (14.4%). The company ahead is KFin Technologies (21.5%). KFin Technologies leads the group, followed by CDSL and then CAMS. CDSL is the largest of the three by market cap and trades at the highest P/E.
Look at the CDSL share price alongside the peers as a snapshot of the last three years. It describes what happened, and valuation and earnings will decide what happens next.
Valuation and Quality Compared
| Company | Market cap | P/E | Industry P/E | ROE | Debt to equity |
|---|---|---|---|---|---|
| Central Depository Services | Rs 28,340 crore | 56.27 | 44.49 | 25.46% | 0.00 |
| Computer Age Management Services | Rs 17,694 crore | 34.85 | 44.49 | 35.48% | 0.04 |
| KFin Technologies | Rs 15,769 crore | 45.22 | 44.49 | 21.47% | 0.05 |
By market cap, Central Depository Services is the largest of the group at Rs 28,340 crore, which gives it the scale advantage over Computer Age Management Services, KFin Technologies. On earnings, CDSL shares trade at a P/E of 56.27 against an industry P/E of 44.49, a premium of about 26%, which signals that the market expects faster earnings growth. Peer multiples are Computer Age Management Services at 34.85 and KFin Technologies at 45.22.
Return on equity is 25.46% for the CDSL stock, which ranks second among the three, and debt to equity stands at 0.00. Trailing EPS is Rs 24.10. Market infrastructure companies tend to trade at higher multiples because their businesses need little capital, so the P/E should be read together with return on equity.
What Is Driving the CDSL Stock?
CDSL earns fees from transactions, account maintenance, issuer charges and other services linked to securities held in demat form. Its revenue rises when more accounts are opened and more investors transact.
The company needs little capital, carries no debt and has a high margin, which supports its ROE. It also runs related services such as e-voting and repository services, which diversify revenue.
Followers of the CDSL share price usually track new demat account additions, trading volumes, initial public offering activity and the growth of ancillary services.
How the Established Players Stack Up
Computer Age Management Services is a Chennai-based registrar and transfer agent that serves a large share of the mutual fund industry. It compounded at 14.4% a year, on a market cap of Rs 17,694 crore and an ROE of 35.48%.
KFin Technologies is a Hyderabad-based registrar and transfer agent that serves mutual funds, corporates and pension schemes. It compounded at 21.5% a year, on a market cap of Rs 15,769 crore and an ROE of 21.47%.
What Should Investors Track Next?
Three things are worth watching on the CDSL share price. First, the addition of new demat accounts. Second, trading and issuance activity. Third, growth of ancillary services.
At a P/E of 56, the stock trades above the industry P/E of 44, and its ROE of 25.46% is strong. Revenue depends partly on market activity, so earnings can move with sentiment.
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How to Compare Capital Market Stocks Yourself
You can repeat this exercise for any pair of stocks, including the CDSL stock against its peers. Note the adjusted closing price on the base date, take the latest close, divide one by the other, raise the result to the power of one third and subtract one. Then place the CAGR next to market cap, P/E against the industry P/E, ROE and debt to equity. Benchmark the result against the Nifty 50 as well, so you know whether the stock beat the broader market.
A stock that scores well on growth but weakly on quality, or the reverse, deserves closer study before it enters a portfolio. When tracking the CDSL share price, the same four checks give a more complete picture than price alone.
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A Debt-Free Depository With the Largest Market Cap in Its Group
The CDSL share price compounded at 17.0% a year over three years, ahead of CAMS at 14.4% and behind KFin Technologies at 21.5%. Its ROE of 25.46% is strong and the company carries no debt.
KFin brings the faster return, while CAMS brings the highest ROE and a lower P/E. The choice depends on which part of the investing chain you want to follow.
Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
Frequently Asked Questions
What is the CDSL share price today?
Ans. Central Depository Services closed at Rs 1,356 on 9 November 2026, according to NSE data. It has a market cap of Rs 28,340 crore and a P/E of 56.27. Check live quotes before acting, as prices change every trading day.
What is the 3-year CAGR of the CDSL stock?
Ans. Central Depository Services delivered a price CAGR of 17.0% over three years, moving from Rs 846.38 on 9 November 2023 to Rs 1,356.00 on 9 November 2026. The figure excludes dividends and uses adjusted closing prices.
Is CDSL better than CAMS?
Ans. CDSL delivered a higher three-year CAGR at 17.0% than CAMS at 14.4%. CDSL is larger by market cap at Rs 28,340 crore against Rs 17,694 crore, while CAMS has a higher ROE at 35.48% against 25.46% and a lower P/E of 34.85 against 56.27. The better choice depends on your view of each business.
What does Central Depository Services do?
Ans. Central Depository Services (India) is a Mumbai-based depository that holds securities in electronic form for investors who trade on Indian stock exchanges.
Is the CDSL stock debt free?
Ans. The debt to equity ratio of the CDSL stock is 0.00 and its return on equity is 25.46%. Always check the latest balance sheet for current figures, as debt levels change with expansion plans.
Is CDSL expensive compared with the industry?
Ans. CDSL trades at a P/E of 56.27 against an industry P/E of 44.49. A higher multiple reflects expectations of faster growth, which the company must deliver through earnings.
Which capital market stock gave the highest return in 3 years?
Ans. Among the companies compared here, KFin Technologies delivered the highest three-year CAGR at 21.5%, followed by Central Depository Services at 17.0%. Past returns do not guarantee future performance.
How do I calculate CAGR for a stock?
Ans. Divide the latest price by the starting price, raise the result to the power of one divided by the number of years, and subtract one. Multiply by 100 for a percentage. Use split and bonus adjusted prices for accurate results.
