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Revenue
₹1,564 Cr
verified against source
Revenue YoY
59%
reported change
EBITDA
Pending
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
BSE delivered a record FY26 with consolidated revenues of ₹5,148 crore (+59% YoY) and PAT of ₹2,497 crore (+88% YoY), driven by a 118% surge in index derivatives premium turnover (ADPT ₹19,523 crore) and strong transaction charge growth (+87%). The 13th consecutive quarter of record revenues reflects deepening market participation, with 3.53 crore new investor accounts added and 255 IPOs raising ₹1.8 lakh crore. Management guided for continued momentum in derivatives, new product launches (Focused IT index derivatives from May 2026), and expansion of StarMF and StarNPS platforms. However, cash equity market share remains stagnant at 7-8% due to pending smart order routing approvals, and the premium-to-notional ratio gap persists as monthly contracts are still developing.
Colored figures show movement against the previous available record.
Guidance to track
- BSE will launch derivatives on the BSE Focused IT index, expanding the monthly derivatives suite.
- Having crossed the 150% threshold of required SGF, the voluntary contribution rate is lowered.
- Management aims to increase broker count from 587 to 700 and FPI count from 520 to 800.
- The current year's technology budget of ~₹300 crore is expected to double due to rising memory and hardware prices.
Risks flagged
- SOR applications at the other exchange have been pending for over 6 months, impeding BSE's cash market share growth.
- Despite progress, monthly contract volumes remain low, keeping the premium-to-notional ratio below peers.
- An ₹80 crore outstanding from NSC led to an ECL provision, impacting other expenses in Q4.
- Clearing expenses and premium revenue are influenced by unpredictable global volatility, making trends uncertain.
Key quotes
- FY26 has been a landmark year for BSE in many ways. This year marked my third full year as MD and CEO and it is particularly gratifying to share that FY2026 was a record year of achievements.
- We are evolving from India's premier mutual fund distributor into the country's definitive super gateway for long-term wealth. With Star NPS, we now capture the entire financial life cycle of the Indian investor from their first SIP to their final pension.
- Our targets for ourselves as KPIs and for our employees is on how many members, how many FPIs, how much of colo utilization, how much of monthly contracts building up, what is the percentage of contribution of FPIs to the total volumes of ours not to anybody else.
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