Arthneeti

BSE Q1 FY27 Share Price & Earnings Call Analysis

₹3,502.00+0.49% today
Market cap
₹1.43L Cr
P/E
50.44
ROE
46.05%
PEG
0.39
Price to sales
26.26
Debt to equity
0.00
52W high / low
₹4,403 / ₹2,443
Sales growth (5Y)
52.05%
EBITDA margin
64.30%
Net profit margin
49.67%
Sales (last year)
₹5,442 Cr

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]

Guidance scorecard · Q1 FY27 call

What BSE's management guided
and where it ranks in Capital Markets

#1of 22 in
Capital Markets
Revenue20–40%MarginsFlatCapexPlannedFundraisingWhat management saidOrder bookWhat management said

RevenueQ1 FY27 call

20–40%
  • BSE expects continued strong growth in revenues and volumes supported by increased investor participation and product innovation.
  • The company aims to grow its market share in the cash segment, targeting a "very meaningfully double-digit" market share by early calendar year 2027.
  • The derivatives segment is expanding rapidly, with record average daily premium turnover and new product launches such as the BSE Focused IT Index derivatives.
  • BSE anticipates sustainable growth in co-location business revenues, with current infrastructure expected to sustain demand for at least 1.5 years.
  • New product launches (e.g., corporate bonds, enhanced data services, pension schemes) are expected to drive future revenue diversification.

2 more points from BSE's call on revenue

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Full Q1 FY27 analysis

MarginsQ1 FY27 call

Flat

See what BSE said on margins — free account, 30 seconds.

Full Q1 FY27 analysis

CapexQ1 FY27 call

Planned
  • BSE is investing in technology modernization, including revamping the clearing system and segregating clearing and trading systems, leading to increased technology expenses.
  • Expansion of co-location infrastructure with 500 racks in place, expected to sustain demand for at least 1.5 years, with potential future monetization and possible increase in order flow charges.
  • Focus on launching new products like derivatives on the BSE Focused IT Index and plans for other indices to broaden derivative offerings.

2 more points from BSE's call on capex

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Full Q1 FY27 analysis

FundraisingQ1 FY27 call

See what BSE said on fundraising — free account, 30 seconds.

Full Q1 FY27 analysis

Order bookQ1 FY27 call

Ask what BSE said on the order book →

Full Q1 FY27 analysis
Full Capital Markets ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Capital Markets
on management's own guidance

  1. Nippon Life Ind.Good growth
    2
  2. This stockBSEGood growth
    1
  3. Motil.Oswal.Fin.Good growth
    3
See all potential multibaggersAll Capital Markets rankings

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Capital Markets companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
1BSEThis stock20–40%Flat₹1.37L Cr48.4
2Nippon Life Ind.20–40%Flat₹68,184 Cr41.6
3Motil.Oswal.Fin.20–40%Flat₹63,771 Cr32.2
420–40%Flat₹31,481 Cr29.1
520–40%Flat₹15,334 Cr43.8
620–40%Flat₹12,638 Cr51.6

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Financials of BSE

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Financials of BSE

Quarterly Results

Quarter-by-quarter operating performance

Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales +2592603624265396028137688479581,0681,2441,564
Expenses +132146173280388319358533362332388512523
Operating Profit1271141891461512824562364846256807321,041
OPM %49%44%52%34%28%47%56%31%57%65%64%59%67%
Other Income +224302422299130832051159110878
Interest6790000000000
Depreciation21212325262429303027324555
Profit before tax1225161821431543494572886607137397951,063
Tax %27%15%35%26%30%24%24%24%25%25%25%25%25%
Net Profit +89440118106107264346219494538557597795
EPS in Rs2.2410.892.972.662.646.538.545.4112.1713.2813.7314.7819.58

Financials of BSE

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales +5846355726766526096308419251,5683,2124,834
Expenses +2933923814014344824294896098571,3361,755
Operating Profit2902431902742191272023523167111,8763,079
OPM %50%38%33%41%34%21%32%42%34%45%58%64%
Other Income +-1023137529566219527841722392
Interest10111210283739320
Depreciation59545045515158486095113159
Profit before tax2212122767572231351533272979951,7543,311
Tax %20%17%4%7%10%11%7%25%31%22%25%25%
Net Profit +1771772657021991211422452067721,3222,487
EPS in Rs1.661.384.5714.224.273.023.586.275.4319.1732.6561.31
Dividend Payout %33%61%68%28%78%63%65%72%74%26%23%16%

Financials of BSE

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital1011111110992727272782
Reserves2,4502,5122,6523,0702,9182,4162,4982,6272,6743,2754,3976,591
Borrowings +413000000000
Other Liabilities +1,7301,7172,5171,9181,5752,0512,1203,5313,2936,1485,9186,773
Total Liabilities4,1954,2405,1834,9984,5044,4764,6276,1855,9949,45010,34213,446
Fixed Assets +251241249207204190184161252285300686
CWIP436718224102155433
Investments2,2762,1151,9962,4422,3802,1321,8441,9681,4532,3902,8453,837
Other Assets +1,6641,8822,9312,3421,9022,1322,5954,0464,2866,7617,1428,890
Total Assets4,1954,2405,1834,9984,5044,4764,6276,1855,9949,45010,34213,446

Financials of BSE

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +-153-44817-239-313397-681,442-1372,6434143,104
Cash from Investing Activity +37116495-236347470-190-980-111-871-758-2,740
Cash from Financing Activity +-45-120-85108-352-618-559-186-149-206-304
Net Cash Flow173-0827-366-318249-312471-4341,623-55060
Free Cash Flow-225-106759-301-375359-1061,410-2802,5132622,589
CFO/OP-36%12%447%-47%-124%350%-13%433%-22%396%40%122%

Financials of BSE

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days232744302742512836493542
Inventory Days
Days Payable
Cash Conversion Cycle232744302742512836493542
Working Capital Days-772-660-1,181-791-605-889-792-1,148-846-1,107-452-176
ROCE %10%10%10%25%8%5%8%15%12%23%47%58%

Guidance history

How BSE's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q1 FY27 call →20–40%FlatPlanned——
Q4 FY26 call →20–40%FlatPlanned——
Q3 FY26 call →20–40%FlatPlanned——
Q2 FY26 call →20–40%FlatPlannedPlanned—

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

33out of 100

Momentum score · price trend

33 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months+44.0%83%
Last 6 months−4.1%48%
Last 3 months−1.6%63%

The price is 20.9% below its all-time high of ₹4,403.3 (26 May 2026). Stocks more than 20% below their peak have their score halved, so 65 became 33.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For BSE: 0.4 × 83 + 0.4 × 48 + 0.2 × 63 = 65, halved to 33 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 28 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Continue your research

What BSE's management said in earlier quarters

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  • ICRA (Q2 FY27)

    Q2 FY2027 Group Revenue: ₹177.9 crore (up from ₹136.6 crore in Q2 FY2026) – ~30.2% YoY growth . Key investor presentation takeaways from ICRA Ltd's Q2 FY27 inve

  • Motilal Oswal Financial Services Ltd (Q2 FY27)

    Total Net Revenues for Q2FY27: ₹1,757 crore, up 20% YoY from ₹1,460 crore in Q2FY26 (Page 18). Key investor presentation takeaways from Motilal Oswal Financial

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