BSE Ltd
BSE NSE
BSE Ltd
Capital Markets F&ONSE: BSE Exchange
Key Fundamentals
LargecapExchangeCapital MarketsMarket Cap
1.3L Cr
Volatility
Moderate
P/E Ratio
47.58
EBITDA
₹3,470 Cr
Return on Equity
36.43%
Debt to Equity
0
Book Value
₹163.83
EPS
₹44.38
52W High
₹4,446.8
52W Low
₹2,021.5
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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50 extracted metrics + investor summaries across FY15–FY26.
Tapetide Score
Data-driven rating, 0–100. How it works →
Technical Indicators
Key Insights
Strengths
5- Company is almost debt free.
- Company is expected to give good quarter
- Company has delivered good profit growth of 69.4% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 36.1%
- Company has been maintaining a healthy dividend payout of 22.0%
Weaknesses
1- Stock is trading at 20.3 times its book value
Growth Rate
Revenue Growth
59.07% ↗
Net Income Growth
87.94% ↗
Cash Flow Change
649.38% ↗
ROE
26.58% ↗
ROCE
33.80% ↗
EBITDA Margin (Avg.)
16.73% ↗
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 5d agoAI opinion · based on fundamentals
Risk high
BSE Ltd commands a market cap of ₹1,42,910 Cr at a PE of 50.9x and PB of 21.5x, reflecting premium valuations after delivering 69% compounded profit CAGR over 5 years. The company is virtually debt-free with a 3-year ROE of 36%, though valuations remain stretched relative to book value.
Bull Case 8
- Compounded profit growth of 126% CAGR over the last 3 years demonstrates explosive earnings momentum
- TTM revenue growth of 61% indicates sustained top-line acceleration in the current period
- Company is almost debt-free, providing significant financial flexibility and low balance sheet risk
- Last year ROE of 46% reflects highly efficient capital allocation and strong profitability
- 5-year compounded sales CAGR of 52% shows consistent long-term revenue scaling
- 3-year ROE average of 36% demonstrates sustained high returns on equity over a multi-year period
- TTM profit growth of 79% outpaces revenue growth of 61%, indicating margin expansion and operating leverage
- Healthy dividend payout ratio of 22% provides income return alongside capital appreciation
Bear Case 8
- Stock trades at 21.5x book value, an extreme premium that leaves limited margin of safety
- PE ratio of 50.9x is significantly elevated, pricing in continued high growth with little room for disappointment
- Dividend yield of just 0.28% offers negligible income cushion against potential capital drawdowns
- Stock CAGR of 129% over 3 years has far outpaced the 126% profit CAGR, suggesting valuation multiple expansion that may not sustain
- Capital markets sector is inherently cyclical — the 77% 3-year sales CAGR reflects a bull market cycle that may mean-revert
- 10-year profit CAGR of 32% versus 3-year CAGR of 126% shows current growth rates are well above long-term trend and may normalize
- 10-year ROE of 20% versus last year's 46% highlights that current profitability levels are historically anomalous
- Market cap of ₹1,42,910 Cr for an exchange business implies lofty expectations for sustained volume and derivative segment growth
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 17h ago Positives 2
- Q1FY26 profit surges 63% YoY Aug 4
BSE reported consolidated net profit of ₹8,726.6 lakh for Q1FY26, up 63% YoY. Revenue from operations jumped 64% to ₹15,660.2 lakh, and the Board approved acquiring additional stake in IIBH.
- ED appointments ratified overwhelmingly Jul 25
Shareholders approved appointments of Saurabh Shukla and Gopalan S. Raghavan as Executive Directors via postal ballot with over 91% support from public shareholders.
Neutral 3
- Multiple large block trades recorded Aug 5
BSE saw three block trades between Jul 27 and Aug 5 totalling ~₹88.26 crores on NSE at prices ranging from ₹3,506.40 to ₹3,603.00 per share, indicating sustained institutional activity.
- Q1 FY27 earnings call scheduled Jul 27
BSE will hold a conference call on August 4, 2026 at 19:00 IST to discuss Q1 FY27 results and outline performance trends and growth strategies.
- FY26 Annual Report shared Jul 25
BSE Limited published the web-link for its FY 2025-26 Annual Report as required under SEBI Listing Regulations.
TL;DR: BSE is delivering strong financial momentum with 63% profit growth and 64% revenue growth in Q1FY26, supported by stable governance with strong shareholder backing for leadership appointments. No identifiable headwinds emerged in the recent news cycle. Sustained institutional block trade activity suggests continued large-investor interest, and the upcoming earnings call should provide visibility on whether this growth trajectory is sustainable.
Quarterly Results
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 260 | 362 | 426 | 539 | 602 | 813 | 768 | 847 | 958 | 1,068 | 1,244 | 1,564 | 1,566 |
| Expenses | 146 | 173 | 280 | 388 | 319 | 358 | 533 | 362 | 332 | 388 | 512 | 523 | 520 |
| Operating Profit | 114 | 189 | 146 | 151 | 282 | 456 | 236 | 484 | 625 | 680 | 732 | 1,041 | 1,046 |
| OPM % | 44% | 52% | 34% | 28% | 47% | 56% | 31% | 57% | 65% | 64% | 59% | 67% | 67% |
| Other Income | 430 | 24 | 22 | 29 | 91 | 30 | 83 | 205 | 115 | 91 | 108 | 78 | 160 |
| Interest | 7 | 9 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 21 | 23 | 25 | 26 | 24 | 29 | 30 | 30 | 27 | 32 | 45 | 55 | 43 |
| PBT | 516 | 182 | 143 | 154 | 349 | 457 | 288 | 660 | 713 | 739 | 795 | 1,063 | 1,164 |
| Tax % | 15% | 35% | 26% | 30% | 24% | 24% | 24% | 25% | 25% | 25% | 25% | 25% | 25% |
| Net Profit | 440 | 118 | 106 | 107 | 264 | 346 | 219 | 494 | 538 | 557 | 597 | 795 | 873 |
| EPS in Rs | 10.89 | 2.97 | 2.66 | 2.64 | 6.53 | 8.54 | 5.41 | 12.17 | 13.28 | 13.73 | 14.78 | 19.58 | 21.46 |
Profit & Loss
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 584 | 635 | 572 | 676 | 652 | 609 | 630 | 841 | 925 | 1,568 | 3,212 | 5,124 | 5,442 |
| Expenses | 293 | 392 | 381 | 401 | 434 | 482 | 429 | 489 | 609 | 857 | 1,336 | 1,644 | 1,943 |
| Operating Profit | 290 | 243 | 190 | 274 | 219 | 127 | 202 | 352 | 316 | 711 | 1,876 | 3,480 | 3,499 |
| OPM % | 50% | 38% | 33% | 41% | 34% | 21% | 32% | 42% | 34% | 45% | 58% | 68% | 64% |
| Other Income | -10 | 23 | 137 | 529 | 56 | 62 | 19 | 52 | 78 | 417 | 22 | 24 | 437 |
| Interest | 1 | 0 | 1 | 1 | 1 | 2 | 10 | 28 | 37 | 39 | 32 | 34 | 0 |
| Depreciation | 59 | 54 | 50 | 45 | 51 | 51 | 58 | 48 | 60 | 95 | 113 | 159 | 175 |
| PBT | 221 | 212 | 276 | 757 | 223 | 135 | 153 | 327 | 297 | 995 | 1,754 | 3,311 | 3,761 |
| Tax % | 20% | 17% | 4% | 7% | 10% | 11% | 7% | 25% | 31% | 22% | 25% | 25% | — |
| Net Profit | 177 | 177 | 265 | 702 | 199 | 121 | 142 | 245 | 206 | 772 | 1,322 | 2,487 | 2,822 |
| EPS in Rs | 1.66 | 1.38 | 4.57 | 14.22 | 4.27 | 3.02 | 3.58 | 6.27 | 5.43 | 19.17 | 32.65 | 61.31 | 69.55 |
| Div. Payout % | 33% | 61% | 68% | 28% | 78% | 63% | 65% | 72% | 74% | 26% | 23% | 16% | — |
Balance Sheet
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 10 | 11 | 11 | 11 | 10 | 9 | 9 | 27 | 27 | 27 | 27 | 82 |
| Reserves | 2,450 | 2,512 | 2,652 | 3,070 | 2,918 | 2,416 | 2,498 | 2,627 | 2,674 | 3,275 | 4,397 | 6,591 |
| Borrowings | 4 | 1 | 3 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Liabilities | 1,730 | 1,717 | 2,517 | 1,918 | 1,575 | 2,051 | 2,120 | 3,531 | 3,293 | 6,148 | 5,918 | 6,773 |
| Total Liabilities | 4,195 | 4,240 | 5,183 | 4,998 | 4,504 | 4,476 | 4,627 | 6,185 | 5,994 | 9,450 | 10,342 | 13,446 |
| Fixed Assets | 251 | 241 | 249 | 207 | 204 | 190 | 184 | 161 | 252 | 285 | 300 | 642 |
| CWIP | 4 | 3 | 6 | 7 | 18 | 22 | 4 | 10 | 2 | 15 | 54 | 77 |
| Investments | 2,276 | 2,115 | 1,996 | 2,442 | 2,380 | 2,132 | 1,844 | 1,968 | 1,453 | 2,390 | 2,845 | 3,837 |
| Other Assets | 1,664 | 1,882 | 2,931 | 2,342 | 1,902 | 2,132 | 2,595 | 4,046 | 4,286 | 6,761 | 7,142 | 8,890 |
| Total Assets | 4,195 | 4,240 | 5,183 | 4,998 | 4,504 | 4,476 | 4,627 | 6,185 | 5,994 | 9,450 | 10,342 | 13,446 |
Cash Flow
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | -153 | -44 | 817 | -239 | -313 | 397 | -68 | 1,442 | -137 | 2,643 | 414 | 3,104 |
| Investing | 371 | 164 | 95 | -236 | 347 | 470 | -189 | -980 | -111 | -871 | -758 | -2,678 |
| Financing | -45 | -120 | -85 | 108 | -352 | -618 | -55 | 9 | -186 | -149 | -206 | -304 |
| Net Cash Flow | 173 | 0 | 827 | -366 | -318 | 249 | -313 | 471 | -434 | 1,623 | -550 | 122 |
| Free Cash Flow | -225 | -106 | 759 | -301 | -375 | 359 | -106 | 1,410 | -280 | 2,513 | 262 | 2,589 |
| CFO/OP | -36 | 12 | 447 | -47 | -124 | 350 | -13 | 433 | -22 | 396 | 40 | 108 |
Ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 23 | 27 | 44 | 30 | 27 | 42 | 51 | 28 | 36 | 49 | 33 | 39 |
| Cash Conversion Cycle | 23 | 27 | 44 | 30 | 27 | 42 | 51 | 28 | 36 | 49 | 33 | 39 |
| Working Capital Days | -772 | -660 | -1,181 | -791 | -605 | -889 | -792 | -1,148 | -846 | -1,107 | -452 | -333 |
| ROCE % | 10% | 10% | 10% | 25% | 8% | 5% | 8% | 15% | 12% | 23% | 47% | 60% |
Documents
1
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
3 Mar - Group Meeting/one on one meet -Physical(Mumbai) on 9th March,2026 from 12.00 p.m onwards 3 Mar - Group Meeting/one on one meet -Physical(Mumbai) on 9th March,2026 from 12.00 p.m onwards
2
Announcement under Regulation 30 (LODR)-Resignation of Director
2 Mar - Independent Director Mr. Kandarp Trivedi resigned effective March 2, 2026; ceases committee memberships. 2 Mar - Independent Director Mr. Kandarp Trivedi resigned effective March 2, 2026; ceases committee memberships.
3
Announcement under Regulation 30 (LODR)-Resignation of Director
2 Mar - Mr. Kandarp Trivedi resigned as Independent Director effective March 2, 2026; ceased chair/member of multiple committees. 2 Mar - Mr. Kandarp Trivedi resigned as Independent Director effective March 2, 2026; ceased chair/member of multiple committees.
4
Intimation Of Credit Confirmation Of Shares From Depositories With Regard To Sub-Division / Split Of Equity Shares Of The Company
11h - Equity split ₹10 to ₹5, new ISIN INE273D01027 credited, effective 03-Mar-2026. 11h - Equity split ₹10 to ₹5, new ISIN INE273D01027 credited, effective 03-Mar-2026.
Frequently Asked Questions about BSE Ltd
What does BSE Ltd do?
Bombay Stock Exchange (BSE Ltd) is an Indian Stock Exchange located at Dalal Street in Mumbai. The Co. facilitates a market for trading in equity, currencies, debt instruments, derivatives, and mutual funds. [1]
Where is BSE Ltd (BSE) listed?
BSE Ltd is listed on the Indian stock exchanges. It is listed on NSE: BSE. You can view its live share price, financials, and ratios on Tapetide.
Which sector does BSE Ltd belong to?
BSE Ltd operates in the Capital Markets sector within the Exchange industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of BSE Ltd?
BSE Ltd has a market capitalisation of approximately ₹133088.50 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of BSE Ltd?
The Price-to-Earnings (PE) ratio of BSE Ltd is 47.58. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of BSE Ltd?
Over the past 52 weeks, BSE Ltd has traded between a low of ₹2,021.5 and a high of ₹4,446.8. This range helps investors understand the stock's price volatility and recent trading levels.
Does BSE Ltd pay dividends?
Yes, BSE Ltd has a dividend yield of 0.30%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of BSE Ltd?
BSE Ltd has a Return on Equity (ROE) of 36.43%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research BSE Ltd on Tapetide?
On Tapetide, you can view BSE Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.
Company Information
Bombay Stock Exchange (BSE Ltd) is an Indian Stock Exchange located at Dalal Street in Mumbai. The Co. facilitates a market for trading in equity, currencies, debt instruments, derivatives, and mutual funds. [1]
CEO Mr. Sundararaman Ramamurthy
Employees 771
Listed 2017-02-03
Face Value ₹ 2
Issued Size 40,78,84,077