Creating Sustainable Growth Through Innovation
CDSL's state-of-the-art IT infrastructure has helped achieve the
milestone of more than 15 Crore demat accounts on our books in FY 2024-25, a growth of
over 13 Crore accounts in last 5 years.
Equally impressive has been the unprecedented surge in retail investor
participation.
We anticipate this trend to strengthen further as India's youth
increasingly view equity markets as a legitimate avenue for wealth creation while
regulatory framework balances investor protection with market development.
Dear stakeholders,
I present CDSL's Integrated Annual Report for FY 2024-25 with a sense
of satisfaction. It signifies a milestone in our journey towards transparent and holistic
communication of our value creation story. This year CDSL's growth journey has been marked
by our resilience, innovation and continued commitment to strengthening India's securities
market infrastructure and making it more inclusive.
Economic overview
The world continued its slow but measured economic recovery while India
maintained its position of being the fastest-growing large economy globally for yet
another year. As India progresses towards its vision of becoming a developed nation -
Viksit Bharat - by
2047, this transformative journey is being supported by strategic
policy interventions and focussed resource allocations. The Union Budget for 2025-26 has
been supporting "sabka vikas" or sustainable and inclusive growth through its
emphasis on agriculture, MSME, investments in infrastructure, exports, etc. These policy
initiatives along with financial and enhanced digital reforms are positioning India as a
resilient economic powerhouse at global stage. As per the provisional estimates released
by the Government recently, India's GDP growth for FY 2024-25 stood at 6.5%. Though lower
than the growth attained during the previous fiscal, the estimate is in sync with RBI's
projection as well and indicates sustainability. Also, important sectors like
construction, public administration, financial sector saw higher growth while agriculture
has picked up too.
Indian stock markets have delivered positive returns for last nine
consecutive years. We have witnessed with admiration the milestone of Indian stock markets
becoming the fourth-largest in the world by market capitalisation. Further, the markets
saw robust domestic investments overtaking foreign investments. This achievement reflects
the robustness of our financial ecosystem and the growing confidence of both global and
domestic investors in India's economic narrative.
Equally impressive has been the unprecedented surge in retail investor
participation. The demat accounts have more than doubled in the past three years to cross
the 19 Crore mark. This redistribution of wealth has been fuelled by technological
advancements, simplified access, and growing financial literacy. We anticipate this trend
to strengthen further as India's youth increasingly view equity markets as a legitimate
avenue for wealth creation while regulatory framework balances investor protection with
market development. As these young investors mature in their investment journey, we expect
to see more stable capital flows that will fuel the growth of both established companies
and innovative startups, creating a virtuous cycle of prosperity and economic advancement.
CDSL at the forefront of innovation
Transformation brought about by fintech in India is not limited to just
technology, its social impact is also far-reaching. CDSL's state-of-the-art IT
infrastructure has helped achieve the milestone of more than 15 Crore demat accounts on
our books in FY 2024-25, a growth of over 13 Crore accounts in last 5 years.
In this context, I may mention that our digital initiatives - including
the enhanced 'CDSL MyEasi Application', eAGM, eDIS and Consolidated Account Statements
that are available in 23 languages, empower investors to engage with markets seamlessly
from the comfort of their homes.
CDSL's thought leadership was prominently displayed at the CDSL Annual
Symposium, held in February 2025, with the theme "Reimagine CapTech and the Future of
Capital Markets", underlining the transformative potential of AI and digital trust.
We also actively participated in 'SMART 2025' - A Symposium on India's Securities Market
Tech Stack, organised by SEBI in January 2025, where we contributed valuable insights to
shaping the future of market supervision and compliance framework.
Governance
Transparency in governance remains a priority for CDSL with a focus on
enhancing trust through regulatory compliance, cybersecurity, data integrity and
enterprise risk management. Through robust measures such as internal audits, a dedicated
regulatory compliance department and an integrated risk management framework, we ensure
reliability and enhance stakeholder trust. Transparency and accountability are upheld
through timely disclosures, accessible governance policies and standard operating
procedures to ensure regulatory compliance in this regard.
Shareholder value creation
CDSL is dedicated to creating value for all the stakeholders. In August
2024, we declared 1:1 bonus issue for our shareholders and we also declared a 125%
dividend of ^12.50/share.
Financial inclusion and CSR
Our commitment to financial inclusion is exemplified by our investor
awareness programmes. This fiscal year we conducted 2,526 investor awareness programmes
across 34 states and union territories, reaching over 1.47 Lakh participants in Hindi and
13 other Indian languages and English. Out of these, 324 sessions were conducted
exclusively for women and 51 investor awareness programmes were a part of our special
campaign "Empowering Our Protectors", that reached over 5,300 armed forces
personnel and their families across 9 states.
CDSL endeavours to enrich the lives of the people across the nation
through its Corporate Social Responsibility (CSR) programmes continuously. Our CSR
initiatives aim to improve lives across India, fostering a society where initiatives for
social, environmental, and economic progress are intertwined. In FY2024-25, we partnered
with sixteen CSR organizations, supporting education, healthcare, environment, rural
development and livelihood, and other areas, making a positive difference to socially and
economically disadvantaged communities.
Looking ahead
As India's premier depository for securities, CDSL has always been at
the forefront of market infrastructure innovation. Our pioneering thinking in the sector
has been driving our efforts towards building trust through transparency. As we look
ahead, I am confident that our disciplined and prudent approach will enable us to grow
further and create greater value for our shareholders. We also stay optimistic of
achieving not only our long-term objectives of sustainable and inclusive growth but also
contributing humbly to nation's development.
I take this opportunity to thank all our stakeholders - the
shareholders, employees, management, regulators and the government agencies for their
continuing support, valuable contribution and encouragement in CDSL's journey to success.
Above all, thank you for your trust as we continue to work together to build a more
resilient, inclusive, and efficient financial ecosystem for Viksit Bharat.
Jai Hind
Balkrishna V. Chaubal Chairperson