Hi, @Karthik , I am a keen reader of Zerodha Varsity. One year ago, I had absolutely no exposure to capital market. It is the Varsity, which gave me confidence. Thanks for your efforts.
You must know CDSL IPO is coming. I am trying to build the valuation model according to the DCF method. I have used the sheet you uploaded in the Fundamental Analysis module of Varsity. As I am a beginner, I would like to request you to have a look in my work and enrich me with your advice.
Here is my sheet (Oops! your sheet. 
)