CDSL Share Price Target 2025, 2030 and 2040: Long-Term Forecast » InvestingCube

Central Depository Services (India) Limited (NSE: CDSL) is a major player in India’s financial market, right up there with NSDL. Since its establishment in 1999, CDSL has been turning paper certificates into digital records. This has really helped savings grow, with demat accounts jumping from 4 crore in FY30 to over 18 crore today.

With more retail investors active on the NSE and the BSE making a comeback, CDSL’s simple, debt-free business model and steady income are setting it up for long-term success. Below, we discuss its business model and outlook for its share price in 2025, 2030 and 2040.

CDSL Share Price Live

CDSL Share Price Target 2025: Technical Outlook and Near-Term Catalysts

Fresh off November 2025 Q2 FY26 results, CDSL’s consolidated Profit After Tax (PAT) dipped 13.6% YoY to ₹140.21 crore, with revenue slipping 1% to ₹318.89 crore. The corporation attributed this to rising costs like employee expenses, which were up 20%.

Brokerages like JM Financial and Motilal Oswal reacted by turning cautious or downgrading their ratings, citing the stock’s elevated valuation and the drag from expenses. Its P/E ratios are often around 67x.

Technically, though, CDSL share price was at ₹1589 at the close of business on November 10, testing a breakout above ₹1,600. A reasonable CDSL share price target for 2025 is likely to hover between the ₹1,650-₹1,900 range. On the higher side, analysts eye ₹2,000 if it clears that range.

CDSL share price weekly chart and price targets as of November 11, 2025. Source: TradingView

CDSL Share Price Target 2030: Valuation Based on Demat Account Penetration

Fast-forward to 2030, and India’s demat tally could hit 25 crore, penetration leaping from 15% to 30% as savings shift from gold to equities. CDSL, with 58% market share, rides this wave. Its 11 crore+ accounts currently signal the high probability of achieving this level of scalability.

Valuation-wise, the stock is pricey at 70x FY26 EPS (₹22.63), but income from transaction fees could grow by 20% each year. Predictions range from ₹6,000 to ₹9,500, which could mean 4-6x returns if India’s economy hits ₹5.6 trillion per government growth projections. The CDSL growth estimate is also based on demat growth of 17% until 2030. However, major risk includes potential regulatory tweaks on fees.

CDSL Share Price Target 2040: Long-Term Outlook and Digital Ecosystem Expansion

Thinking long-term CDSL will be central to India’s digital financial growth in 2040. By that time, India should be a top global economy, with mature and advanced financial markets. By 2040, India is projected to be one of the world’s largest economies, and its financial markets will likely be mature, deep and hyper-digital.

CDSL targets that its ecosystem, consisting of KRA services, e-voting, insurance repos, will expand beyond core depository, tapping digital India, per its FY 25 Annual Report. If CDSL succeeds in being the go-to for digital storage of all financial assets and keeps most of the market, a CDSL share price prediction for 2040 could be in the ₹9,000 to ₹12,000 range. This valuation will reflect its status as a mature, entrenched digital infrastructure powerhouse.

CDSL’s Unique Business Model and Revenue Streams

CDSL’s strength comes from its near-monopoly, making its business simple and able to grow. It earns money in diverse ways. Its revenue streams are a diversified mix of recurring and market-dependent income. These include:

• Annual Issuer Charges: These are recurring fees, paid by listed companies.
• Transaction Charges: These are charges levied on Depository Participants (DPs) for transactions in demat accounts.
• Online Data/KYC Charges (via CDSL Ventures Limited-CVL): CVL is the largest KYC Registration Agency (KRA) in India.

Analyst Consensus: What Brokerages Predict for CDSL Share Price Target

Analysts’ opinions on CDSL share price target are mixed. MarketScreener shows 12 analysts averaging ₹1,519, about 5% down from the current price, with AlphaSread data having predictions from ₹1,010 to ₹1,869. Motilal Oswal is neutral at ₹1,520, pointing to flat issuer fees. TradingView is at ₹1,554, with an eye on margins, as per its November updates.

Why Is CDSL Share Price Up Today?

As of this writing, CDSL share price is up over 0.5% and trading at ₹1,598 on the daily chart on the NSE as per TradingView’s live charts. The stock has shrugged off recent volatility, thanks to two big wins. The first catalyst is the launch of a unified investors’ app with rival NSDL. It brings seamless demat access across depositories, making it a hit among traders. Also, SEBI’s recent clarity on futures and options (F&O) trading rules has eased fears of curbs. Finally there’s CDSL’s Q2 beat on demat discussed above.