December 27, 2016

NSDL sees higher revenue growth from non-depository ops than depository ops

Here is a story that I recently contributed to the news organization I work for currently:

The largest depository in the country, National Securities Depository Ltd, earned more out of non-core depository services in FY16 compared to FY15. NSDL's revenue from depository services increased 11% year on year in FY16 to Rs 137 crore while database management services revenue jumped by 30% to Rs 47 crore.

In FY16, the share of depository services revenue to total revenue was 74% while that of data services was 25%. In the previous year (FY15), depository segment's share was 77% and data segment share was 23%.

Segment profit (operating profit) in data services rose sharply by 209% YoY to Rs 13.2 crore while depository services profit grew by 77% to Rs 56.4 crore.

Overall, the Profit after Tax of NSDL (consolidated) was up 23% YoY to Rs 63.4 crore in FY16.

The non-depository operations of NSDL are primarily through its wholly-owned subsidiaries, NSDL Database Management Ltd and NSDL e-Governance Infrastructure Limited.

NSDL's depository operations earns revenue on a recurring basis primarily from four transactions--debits in investors' demat accounts, settlement-related transfers from the clearing corporation of stock exchanges to clearing members' pool accounts, transfers between clearing members and pledge transactions in any demat account.

Settlement value of demat securities fell by nearly 3% YoY in 2015-16 and was a major reason for the a smaller YoY growth rate of 11% in the depository segement revenue.

In FY15, the depository company had shown a Rs 19.1 crore increase YoY in its depository segment revenue to Rs 124 crore and recorded a YoY growth of 18.3%.

The first half of FY17 (April-September) has seen the depository segment revenue come in at Rs 104 crore, but the non-depository revenue data for HI, FY17 has not been disclosed by NSDL.

December 14, 2016

Voting at TCS' EGM to remove Cyrus Mistry

Voting at TCS' EGM yesterdayto remove Cyrus Mistry:
FOR: Promoters (predominantly Tata Sons) 73.3%,
Public 7.4%
AGAINST: Public 6.0%
ABSTAINED: Public 13.3%

% - percentage of total number of equity shares of TCS