BSE vs CDSL: share price, P/E, ROE and financials compared
BSE
Central Depository Services (India)
BSE and CDSL at a glance
BSE and CDSL are both listed in Financial Services. BSE is the larger by market cap, at ₹1.5L Cr against ₹27,826 Cr for CDSL (5.5 times as large). On valuation, BSE has the lower P/E (50.8× against 55.1×), while CDSL has the lower price-to-book (14.03× against 16.95×). On returns and margins, BSE has the higher ROCE (40.9% against 29.7%), the higher ROE (38.7% against 26.4%) and the higher operating margin (65.7% against 51.3%). Over three years, BSE has faster 3-year sales growth (+76.5% against +27.3% a year) and faster 3-year profit growth (+124.5% against +18.2% a year). Neither carries much debt for its equity: debt-to-equity is 0.00× for BSE and 0.00× for CDSL.
Key metrics, side by side
| Metric | BSEBSE | CDSLCDSL |
|---|---|---|
| Price (₹) | 3,800.00 | 1,331.40 |
| Market cap (₹ Cr) | 1,54,329 | 27,826 |
| P/E | 50.8× (the lower figure, shaded) | 55.1× |
| P/B | 16.95× | 14.03× (the lower figure, shaded) |
| Dividend yield, trailing | 0.26% | 0.96% (the higher figure, shaded) |
| ROE | 38.7% (the higher figure, shaded) | 26.4% |
| ROCE | 40.9% (the higher figure, shaded) | 29.7% |
| Operating margin (OPM) | 65.7% (the higher figure, shaded) | 51.3% |
| Net margin (NPM) | 49.8% (the higher figure, shaded) | 37.2% |
| Sales CAGR 3Y | +76.5% (the higher figure, shaded) | +27.3% |
| Profit CAGR 3Y | +124.5% (the higher figure, shaded) | +18.2% |
| Debt to equity | 0.00× | 0.00× |
| Interest cover | 20620.6× (the higher figure, shaded) | 3511.0× |
| Net profit TTM (₹ Cr) | 3,082 | 505 |
| 1Y return | +51.8% (the higher figure, shaded) | −13.3% |
| Promoter holding | – | 15.00% |
BSE vs CDSL: common questions
Which is bigger, BSE or CDSL?
By market cap, BSE is bigger at ₹1.5L Cr, against ₹27,826 Cr for CDSL (prices as of 6 Nov 2026). Net profit over the last twelve months was ₹3,082 Cr for BSE and ₹505 Cr for CDSL.
Which has a lower P/E ratio, BSE or CDSL?
BSE trades at a P/E of 50.8× and CDSL at 55.1×. BSE has the lower P/E. P/E is the share price divided by earnings per share; it varies a lot between industries and with growth, so it says little on its own.
Which has a higher ROE, BSE or CDSL?
BSE reports a return on equity of 38.7% and CDSL 26.4%. BSE has the higher ROE. ROE is net profit as a share of shareholders’ equity.
Which is growing faster, BSE or CDSL?
Over the last three years: Sales grew +76.5% a year at BSE and +27.3% at CDSL, so BSE grew sales faster; profit grew +124.5% a year at BSE and +18.2% at CDSL, so BSE grew profit faster. Past growth doesn’t predict future growth.