Market slowdown impacting transaction and KYC revenues
Lower market volumes and reduced investor participation could further pressure transaction-based income and KYC-related revenues.
CDSL / Q3-FY25 / risks
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Central Depository Services (India) · Material risks, their source context, and severity in the latest available quarter.
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Risk intelligence
Material risks this quarter
high
Inability to raise annual issuer charges without regulatory approval
Annual issuer charges have not been increased since 2015; any hike requires SEBI approval, which may not be forthcoming.
Elevated technology and employee costs may not moderate
Management indicated continued investment in technology and people, with no plans to cut discretionary spending even if revenue growth slows.