$CDSL

$CDSL CDSL is India's leading securities depository and a key beneficiary of rising financialization, increasing retail participation, and growth in capital markets. The company enjoys a scalable, asset-light business model with high margins, strong cash generation, and minimal debt. FY25 revenue exceeded ₹1,000 crore, while PAT was over ₹500 crore with ROE above 30%. Growth in demat accounts, IPO activity, and capital market transactions provides long-term earnings visibility and supports sustained value creation.