Risks
3 risks
Risk Intelligence
STT hike impact on derivatives volumes
View Risks →BSE Limited — Q3 FY26
BSE delivered its 11th consecutive quarter of record revenues, with consolidated revenue of ₹1,244 crore (+62% YoY) and PAT of ₹602 crore (+176% YoY).
bullish
high
Financial stats pending filing verification
2-Minute Summary
✦ AI-Generated from Full Transcript
BSE delivered its 11th consecutive quarter of record revenues, with consolidated revenue of ₹1,244 crore (+62% YoY) and PAT of ₹602 crore (+176% YoY). EBITDA margin expanded to 59% from 39% YoY, driven by operating leverage as transaction charges surged 86%. The derivatives segment saw average daily premium turnover hit a record ₹19,459 crore, more than doubling YoY, supported by the Thursday expiry cycle and strong open interest growth. The SME platform listed its 700th company, and BSE StarMF achieved record monthly transactions of 7.97 crore in January 2026. Management highlighted a healthy IPO pipeline and sustained retail participation as growth drivers. Risks include potential volume impact from STT hikes on futures and options, though management views this as neutral for BSE given its focus on options. The core SGF contribution may normalize as the 150% threshold is reached, reducing incremental costs.
बीएसई ने लगातार 11वीं तिमाही में सबसे ज्यादा कमाई दर्ज की। कुल कमाई ₹1,244 करोड़ रही, जो पिछले साल से 62% ज्यादा है। मुनाफा ₹602 करोड़ रहा, जो 176% बढ़ा। कंपनी की कमाई और खर्च का अंतर 39% से बढ़कर 59% हो गया, क्योंकि ट्रेडिंग फीस में 86% का उछाल आया। डेरिवेटिव्स सेगमेंट में औसत दैनिक प्रीमियम कारोबार ₹19,459 करोड़ रहा, जो पिछले साल से दोगुना से ज्यादा है। एसएमई प्लेटफॉर्म ने 700वीं कंपनी लिस्ट की, और बीएसई स्टारएमएफ ने जनवरी 2026 में 7.97 करोड़ लेन-देन का रिकॉर्ड बनाया। कंपनी को आईपीओ और छोटे निवेशकों की भागीदारी से आगे बढ़ने की उम्मीद है। जोखिम: एसटीटी बढ़ने से कारोबार पर असर पड़ सकता है, लेकिन बीएसई का फोकस ऑप्शंस पर है, इसलिए ज्यादा फर्क नहीं पड़ेगा।
Risks3 trackedTranscriptfull text
Research workspace
Focused Modules
Transcript
Full text
Call Transcript
Full transcript text is available on this route.
Read Transcript →Quarter Snapshot
Average Daily Premium Turnover (Derivatives)
₹19,459 crore
+100% YoY
Record high, more than doubled YoY; sequential increase of 30% QoQ.
BSE StarMF Monthly Transactions (Jan 2026)
7.97 crore
+21% YoY
New monthly peak, reinforcing platform's high-growth trajectory.
SME Listings
700 companies
+100 companies in 179 days
Fastest addition of 100 companies; cumulative market cap ~₹1.8 lakh crore.
Registered Investor Accounts
24 crore
Not specified
Surpassed 24 crore; 10 states each have >1 crore investors.
Fast read
Guidance and risk preview
BSE plans to add 80 more collocation racks, bringing total to around 500, with revenue stabilizing at ₹45-48 crore per quarter.
Increased STT on futures and options could dampen trading volumes, though management expects minimal impact on BSE's options-focused growth.
View Risks →