BSE Ltd
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]
- Market Cap ₹ 1,12,072 Cr.
- Current Price ₹ 2,752
- High / Low ₹ 3,227 / 1,227
- Stock P/E 58.4
- Book Value ₹ 108
- Dividend Yield 0.22 %
- ROCE 47.5 %
- ROE 35.8 %
- Face Value ₹ 2.00
Pros
- Company is almost debt free.
- Company is expected to give good quarter
- Company has delivered good profit growth of 64.2% CAGR over last 5 years
- Company has been maintaining a healthy dividend payout of 50.8%
Cons
- Stock is trading at 25.4 times its book value
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 302 | 414 | 495 | 522 | 628 | 576 | 518 | 537 | 698 | 709 | 1,258 | 2,883 | 3,765 | |
| 163 | 247 | 265 | 304 | 313 | 354 | 415 | 383 | 422 | 456 | 802 | 1,257 | 1,465 | |
| Operating Profit | 139 | 167 | 229 | 218 | 315 | 221 | 103 | 154 | 277 | 254 | 455 | 1,626 | 2,299 |
| OPM % | 46% | 40% | 46% | 42% | 50% | 38% | 20% | 29% | 40% | 36% | 36% | 56% | 61% |
| -33 | -25 | -52 | 33 | 338 | 41 | 116 | 13 | 26 | 33 | 538 | -61 | 372 | |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 27 | 52 | 49 | 48 | 39 | 44 | 44 | 51 | 41 | 49 | 75 | 90 | 113 |
| Profit before tax | 79 | 90 | 128 | 203 | 614 | 218 | 175 | 116 | 261 | 238 | 919 | 1,475 | 2,558 |
| Tax % | 5% | 16% | -4% | 2% | 8% | 8% | 1% | 16% | 25% | 30% | 18% | 25% | |
| 75 | 76 | 133 | 199 | 564 | 201 | 174 | 97 | 195 | 167 | 753 | 1,112 | 1,932 | |
| EPS in Rs | 0.80 | 0.81 | 1.37 | 4.11 | 11.65 | 4.31 | 4.28 | 2.40 | 4.81 | 4.11 | 18.55 | 27.39 | 47.52 |
| Dividend Payout % | 56% | 69% | 61% | 76% | 34% | 77% | 44% | 97% | 94% | 97% | 27% | 28% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 21% |
| 5 Years: | 41% |
| 3 Years: | 60% |
| TTM: | 59% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 26% |
| 5 Years: | 64% |
| 3 Years: | 82% |
| TTM: | 142% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | 112% |
| 3 Years: | 161% |
| 1 Year: | 98% |
| Return on Equity | |
|---|---|
| 10 Years: | 12% |
| 5 Years: | 16% |
| 3 Years: | 21% |
| Last Year: | 36% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 10 | 10 | 11 | 11 | 11 | 10 | 9 | 9 | 27 | 27 | 27 | 27 | 81 |
| Reserves | 2,075 | 2,193 | 2,297 | 2,419 | 2,764 | 2,616 | 2,156 | 2,178 | 2,260 | 2,242 | 2,817 | 3,721 | 4,331 |
| 0 | 0 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| 507 | 673 | 611 | 747 | 607 | 568 | 657 | 806 | 857 | 836 | 1,390 | 1,216 | 1,877 | |
| Total Liabilities | 2,592 | 2,876 | 2,919 | 3,178 | 3,381 | 3,194 | 2,822 | 2,993 | 3,144 | 3,105 | 4,234 | 4,964 | 6,290 |
| 90 | 150 | 144 | 128 | 133 | 133 | 118 | 118 | 98 | 164 | 195 | 206 | 322 | |
| CWIP | 34 | 4 | 2 | 5 | 7 | 19 | 23 | 4 | 4 | 2 | 14 | 54 | 214 |
| Investments | 1,643 | 1,868 | 1,875 | 2,118 | 2,640 | 2,566 | 2,160 | 1,978 | 1,960 | 1,573 | 2,423 | 2,665 | 3,700 |
| 825 | 854 | 898 | 926 | 601 | 476 | 520 | 894 | 1,081 | 1,366 | 1,603 | 2,038 | 2,054 | |
| Total Assets | 2,592 | 2,876 | 2,919 | 3,178 | 3,381 | 3,194 | 2,822 | 2,993 | 3,144 | 3,105 | 4,234 | 4,964 | 6,290 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| -71 | 9 | -80 | 158 | -112 | 9 | 66 | 65 | 202 | 87 | 492 | 516 | |
| 231 | 21 | 171 | -61 | 338 | 328 | 580 | 98 | -216 | 96 | -283 | -329 | |
| -243 | -31 | -93 | -76 | -218 | -348 | -635 | -78 | -96 | -186 | -179 | -206 | |
| Net Cash Flow | -83 | -1 | -1 | 20 | 8 | -11 | 12 | 86 | -110 | -2 | 30 | -19 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 29 | 23 | 21 | 37 | 30 | 26 | 37 | 38 | 27 | 24 | 35 | 30 |
| Inventory Days | ||||||||||||
| Days Payable | ||||||||||||
| Cash Conversion Cycle | 29 | 23 | 21 | 37 | 30 | 26 | 37 | 38 | 27 | 24 | 35 | 30 |
| Working Capital Days | -467 | -470 | -384 | -427 | -307 | -317 | -413 | -459 | -410 | -385 | -357 | -86 |
| ROCE % | 7% | 7% | 9% | 8% | 11% | 8% | 3% | 6% | 12% | 10% | 16% | 47% |
Insights
In beta| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BSE StAR Mutual Fund - Number of Orders Million |
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| Equity Cash - Average Daily Turnover (ADTV) Rs. Million |
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| SME Platform - Cumulative Number of Companies Listed Number |
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| Mutual Fund Platform - Market Share (Transactions) Percentage |
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Documents
Announcements
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Updates
4 March 2026 - BSE received SEBI approval to launch monthly cash-settled futures and monthly options on BSE SENSEX Next 30 Index.
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Analysts/Institutional Investor Meet/Con. Call Updates
27 February 2026 - Investor meeting with TVF Capital on March 2, 2026 in Mumbai (one-on-one, physical).
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Analysts/Institutional Investor Meet/Con. Call Updates
24 February 2026 - BSE to attend Ambit India Access investor meeting in Kuala Lumpur, March 4-5, 2026.
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Analysts/Institutional Investor Meet/Con. Call Updates
17 February 2026 - Feb 20, 2026 one-on-one virtual investor meetings with Axiom Investors and Millennium Investment Management.
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Updates
13 February 2026 - SEBI approved BSE to launch cash-settled monthly futures and options on BSE Focused Midcap Index (13 Feb 2026).
Annual reports
Concalls
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Feb 2026Transcript PPT REC
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Nov 2025Transcript PPT REC
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Nov 2025TranscriptAI SummaryPPT
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Aug 2025Transcript PPT REC
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May 2025Transcript PPT REC
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Feb 2025Transcript PPT REC
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Nov 2024Transcript PPT REC
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Aug 2024Transcript PPT REC
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May 2024Transcript PPT
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Feb 2024Transcript PPT REC
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Nov 2023TranscriptPPT
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Nov 2023Transcript PPT REC
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Aug 2023Transcript PPT REC
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May 2023Transcript PPT
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May 2023TranscriptAI SummaryPPT
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Feb 2023TranscriptPPT
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Feb 2023Transcript PPT
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Nov 2022Transcript PPT
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Nov 2022TranscriptAI SummaryPPT
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Aug 2022Transcript PPT
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Aug 2022TranscriptAI SummaryPPT
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May 2022Transcript PPT
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May 2022TranscriptAI SummaryPPT
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Feb 2022Transcript PPT
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Feb 2022TranscriptAI SummaryPPT
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Nov 2021Transcript PPT
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Nov 2021TranscriptAI SummaryPPT
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Aug 2021TranscriptAI SummaryPPT
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Aug 2021TranscriptAI SummaryPPT
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Aug 2021TranscriptAI SummaryPPT
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Aug 2021TranscriptAI SummaryPPT
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May 2021TranscriptAI SummaryPPT
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Feb 2021TranscriptAI SummaryPPT
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Nov 2020TranscriptAI SummaryPPT
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Aug 2020TranscriptAI SummaryPPT
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May 2020TranscriptAI SummaryPPT
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Feb 2020TranscriptAI SummaryPPT
History
BSE, the first-ever stock exchange in Asia, was established in 1875. It is also the first in the country to be granted permanent recognition under the Securities Contract Regulation Act, 1956. It is the Fastest Stock Exchange in the world with a speed of 6 microseconds and is one of India's leading exchange groups. In 1986, the Co-developed the S&P BSE SENSEX index, giving the Co. a means to measure the overall performance of the exchange. In 2017, it became the first listed stock exchange in India. [1]