BSE delivered exceptional Q3 FY26 performance with record revenues and profitability driven by strong domestic institutional investor participation amid foreign portfolio investor outflows. The company's strategic focus on market deepening, technology infrastructure, and product innovation continues to drive sustainable growth across all business segments.
vs Q4 FY26
| Metric | Value | YoY |
|---|---|---|
| Consolidated Revenue | ₹1.3K Cr | +62.0% YoY |
| Operational Revenue | ₹1.2K Cr | +62.0% YoY |
| Transaction Charges | ₹953 Cr | +86.0% YoY |
| Operating EBITDA | ₹732 Cr | +210.0% YoY |
| Net Profit | ₹602 Cr | +176.0% YoY |
| Operating Expenses | ₹511 Cr | +40.0% YoY |
| Metric | Latest | Trend |
|---|---|---|
| Transaction Charges(crores) | 953 | |
| Operating Expenses(crores) | 511 | |
| Operating EBITDA(crores) | 732 | |
| Operating EBITDA Margin | 65% | |
| Consolidated Revenue(crores) | 1334 | |
| Operational Revenue(crores) | 1244 |
| Category | Target | Priority |
|---|---|---|
| Core SGF Policy | SGF Contribution Rate→5% of transaction revenue until 150% threshold | High |
| Strategic Focus | Business Objectives→Deepening and broadening market, enhancing customer delight, capital formation | High |
| Product Expansion | Commodities Trading→Future expansion once equity derivatives platform stabilized | Medium |
| Severity | Risk |
|---|---|
medium | Global Market Volatility Geopolitical tensions and trade uncertainties affecting global investor confidence, but domestic institutional investors providing Rs. 7 lakh crores support Other |
low | FPI Outflows Foreign Portfolio Investors retreated during 2025, but domestic institutional investors more than compensated Other |
low | Operating Expense Growth 40% increase in operating expenses, but 51% directly correlated to transaction volumes with strong margin expansion Other |
low | Labor Code Implementation Rs. 22 crores increase in employee expenses due to new Labor Codes, but manageable given overall profitability Other |
BSE achieved its 11th consecutive quarter of record revenue with Rs. 1,334 crores, representing 62% YoY growth. Nine-month revenues of Rs. 3,518 crores already exceeded full FY25 revenues of Rs. 3,236 crores. Net profit more than doubled to Rs. 602 crores (176% growth) with operating EBITDA margins expanding to 59% from 39%, demonstrating exceptional operational leverage and efficiency.
Despite foreign portfolio investor outflows, domestic institutional investors deployed Rs. 7 lakh crores (33% increase from prior year), demonstrating fundamental shift in market microstructure. SIP flows reached record Rs. 3.34 lakh crores from Rs. 2.68 lakh crores, reinforcing deepening culture of disciplined long-term investing across India.
BSE's SME platform achieved landmark 700th company listing, mobilizing Rs. 14,735 crores in capital with cumulative market cap of Rs. 1.8 lakh crores. Recent 100 companies added in just 179 days (shortest interval), demonstrating accelerating pace. Total registered investor accounts exceeded 24 crores with 10 states contributing over 1 crore investors each.
MoU with Department of Posts enables mutual fund distribution via India Post's vast network, training postal employees as mutual fund distributors using BSE StAR MF platform. Partnership aims to enhance financial inclusion and reach underserved markets, supporting broader capital market participation.
Core Settlement Guarantee Fund reached Rs. 1,202 crores with 150% threshold achieved, limiting future 5% contribution requirement. This prudent capital management approach balances robust risk coverage with optimal cash flow allocation, improving future profitability dynamics while maintaining market confidence.