BSE Ltd.

•

bseindia.comBSE: -NSE: BSE

Market Cap₹ 1,38,028 Cr.

Current Price

High / Low₹ 4,447 / 2,022

Stock P/E51.8

Book Value₹ 161

Price to Book18.98

Dividend Yield0.30 %

ROCE64.9 %

ROE49.1 %

Face Value₹ 2

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ABOUT

KEY POINTS

Revenue Breakup Mar 2015 • Operation: 59.2% • Related Activity (Treasury): 40.8%

AI Sector View

AI GENERATED

Financial Services

Buy

Financials remain one of the clearest macro beneficiaries. Loan growth was 18.3% (Aug/26) versus deposit growth 14.7% (Aug/26), SCB credit growth was 17.5% YoY (2026-07), UPI transactions rose 22.0% YoY (2026-07), and M3 money supply grew 15.0% YoY (2026-07). Sector flows have also turned meaningfully supportive, with INR 13171 crore net FPI inflow over 3 months to 2026-08-31 after INR -114652 crore in the prior 3 months.

Confidence

84%

View full sector analysis →

PROS

Company has delivered good profit growth of 88.8% CAGR over last 5 years
Solid return on assets for a lender - ROA of 37.4%
Company has a healthy return on capital (ROCE) of 48.5%
Company has a good return on equity (ROE) track record: 3 Years ROE 37.4%
Latest quarter profit grew 71.0% YoY, showing strong momentum
Company has delivered good sales growth of 54.9% CAGR over last 5 years

CONS

Valuation is stretched - P/E of 51.8 is well above its own 5-year median (22.2)
Stock is trading at 19.0x its book value
Recurring exceptional / one-off items are inflating headline profit

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Financial ServicesFinanceFinance - Others

Part ofNIFTYM150MOMNTM50 NIFTY ALPHA 50 NIFTY500MOMENTM50 NIFTYLARGEMIDCAP250 NIFTYMIDCAP150

S.No.	Name
1.	BSE	3384.00	48.75	138027.97	0.30	872.66	62.15	1566.02	63.40	49.47	68.04
2.	MFSL	1478.50	464.33	51025.22	0.00	118.29	36.83	14969.51	7840.54	4.32	1.11
3.	ANANDRATHI	2210.40	78.92	36701.76	0.29	1630.08	1635.79	3219.85	1075.04	64.48	33.74
4.	PRUDENT	3401.10	57.47	14082.83	0.10	74.76	44.38	347.63	18.34	39.05	25.62
5.	CENTRUM	22.48	7.99	1094.39	0.00	-148.80	-39.11	911.98	17.53	9.28	26.49

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	157	207	278	379	496	659	688	763	874	975	1,153	1,468	14,740
	118	145	173	367	301	357	367	323	316	371	455	487	5,283
Operating Profit	38	62	106	13	195	302	322	440	557	604	698	981	9,457
OPM %	24.43%	30.01%	37.99%	3.33%	39.32%	45.88%	46.74%	57.69%	63.79%	61.93%	60.55%	66.81%	64.16%
	552	70	48	105	56	96	51	104	91	99	77	115	1,274
Interest	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	17	18	20	21	19	23	24	24	22	27	39	47	359
Profit before Tax	573	115	134	97	232	375	349	520	626	676	736	1,049	10,731
Tax %	11.55%	37.27%	28.91%	18.15%	25.20%	24.81%	25.36%	23.64%	25.18%	23.88%	24.97%	23.85%	25.34%
Net Profit	507	72	95	79	173	282	260	397	468	514	552	799	8,012
	36.91	5.24	6.93	5.76	4.21	6.84	6.31	9.64	11.37	12.49	13.41	19.40	19.45

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	522	628	576	518	537	698	709	1,258	2,883	4,801	5,070
	304	315	354	415	383	425	457	803	1,348	1,633	1,842
Operating Profit	218	314	221	103	154	273	252	454	1,536	3,167	3,229
OPM %	41.77%	49.93%	38.42%	19.87%	28.71%	39.10%	35.57%	36.12%	53.26%	65.98%	63.68%
	33	340	41	116	13	29	34	539	30	55	419
Interest	0	0	0	0	0	0	0	0	0	0	0
Depreciation	48	39	44	44	51	41	49	75	90	135	149
Profit before Tax	203	614	218	175	116	261	238	919	1,475	3,087	3,534
Tax %	2.27%	8.16%	7.99%	0.88%	16.15%	25.27%	29.75%	17.99%	24.59%	24.39%	24.54%
Net Profit	199	564	201	174	97	195	167	753	1,112	2,334	2,667
EPS	0.00	0.00	0.00	0.00	7.08	14.20	12.15	55.66	82.19	57.22	—
Dividend Payout %	75.84%	33.99%	77.29%	44.05%	97.16%	93.58%	97.38%	26.95%	27.98%	17.48%	—

COMPOUNDED SALES GROWTH

10 Years:: 25%
5 Years:: 55%
3 Years:: 89%

COMPOUNDED PROFIT GROWTH

10 Years:: 33%
5 Years:: 89%
3 Years:: 141%

STOCK PRICE CAGR

10 Years:: —
5 Years:: 90%
3 Years:: 98%
1 Year:: 56%

RETURN ON EQUITY

10 Years:: 18%
5 Years:: 26%
3 Years:: 37%
Last Year:: 49%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	11	11	10	9	9	27	27	27	27	82
	2,419	2,764	2,616	2,156	2,178	2,260	2,242	2,817	3,721	5,685
	6	7	9	8	9	7	10	10	16	26
Trade Payables	49	58	36	68	90	53	59	158	75	96
	683	478	445	474	595	707	709	1,171	1,113	1,630
Total Liabilities	3,167	3,317	3,116	2,714	2,881	3,053	3,047	4,183	4,951	7,519
	128	133	133	118	118	95	163	194	205	524
Capital Work in Progress	4	2	9	8	0	2	0	11	41	32
	2,118	2,640	2,566	2,160	1,978	1,960	1,573	2,423	2,665	3,772
	0	0	0	0	0	0	0	119	212	504
Cash & Bank	640	339	239	204	508	760	951	991	1,231	1,270
	277	203	168	223	277	237	360	445	597	1,416
Total Assets	3,167	3,317	3,116	2,714	2,881	3,053	3,047	4,183	4,951	7,519

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	148	-8	35	101	100	262	145	492	516	2,652
Cash from Investing	-61	338	328	580	98	-216	96	-283	-329	-2,283
Cash from Financing	-76	-218	-348	-635	-78	-96	-186	-179	-206	-316
	20	8	-11	12	86	-110	-2	30	-19	53

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Promoters	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	11.09	12.98	15.99	16.78	18.14	16.26	17.45	19.42	21.32
	11.56	11.65	12.04	12.31	11.25	19.89	23.72	25.06	24.12
	0.00	0.00	0.00	0.00	0.00	0.09	0.09	0.09	0.09
	54.56	52.43	50.03	48.80	50.03	63.78	58.75	55.42	54.47

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-11

Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-11 - BSE Limited has informed the Exchange about Schedule of meet

2026-09-11

Updates

2026-09-11 - BSE Limited has informed the Exchange regarding 'SEBI approval on re-appointment of Shri Jagannath Mukkavilli, Non-Independent Director'.

2026-09-10

Updates

2026-09-10 - BSE Limited has informed the Exchange regarding 'further acquisition of equity stake in India International Bullion Holding IFSC Limited.'.

2026-09-03

Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-03 - BSE Limited has informed the Exchange about Schedule of meet

2026-09-01

General Updates

2026-09-01 - BSE Limited has informed the Exchange about ESG Rating

2026-08-26

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-26 - BSE Limited has informed the Exchange about Schedule of meet

2026-08-26

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-26 - BSE Limited has informed the Exchange about Schedule of meet

2026-08-24

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-24 - BSE Limited has informed the Exchange about Reschedule of Analyst/ Institutional Investor Meeting

2026-08-19

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-19 - BSE Limited has informed the Exchange about Schedule of meet

News

Recent coverage and analyst commentary for BSE

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AI Stock Analyst

BSE Ltd.

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Free 5nance Account

Name

BSE

3384.00

48.75

138027.97

0.30

872.66

62.15

1566.02

63.40

49.47

68.04

MFSL

1478.50

464.33

51025.22

0.00

118.29

36.83

14969.51

7840.54

4.32

1.11

ANANDRATHI

2210.40

78.92

36701.76

0.29

1630.08

1635.79

3219.85

1075.04

64.48

33.74

PRUDENT

3401.10

57.47

14082.83

0.10

74.76

44.38

347.63

18.34

39.05

25.62

CENTRUM

22.48

7.99

1094.39

0.00

-148.80

-39.11

911.98

17.53

9.28

26.49

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

157

207

278

379

496

659

688

763

874

975

1,153

1,468

14,740

118

145

173

367

301

357

367

323

316

371

455

487

5,283

Operating Profit

106

195

302

322

440

557

604

698

981

9,457

OPM %

24.43%

30.01%

37.99%

3.33%

39.32%

45.88%

46.74%

57.69%

63.79%

61.93%

60.55%

66.81%

64.16%

552

105

104

115

1,274

Interest

Depreciation

359

Profit before Tax

573

115

134

232

375

349

520

626

676

736

1,049

10,731

Tax %

11.55%

37.27%

28.91%

18.15%

25.20%

24.81%

25.36%

23.64%

25.18%

23.88%

24.97%

23.85%

25.34%

Net Profit

507

173

282

260

397

468

514

552

799

8,012

36.91

5.24

6.93

5.76

4.21

6.84

6.31

9.64

11.37

12.49

13.41

19.40

19.45

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

522

628

576

518

537

698

709

1,258

2,883

4,801

5,070

304

315

354

415

383

425

457

803

1,348

1,633

1,842

Operating Profit

218

314

221

103

154

273

252

454

1,536

3,167

3,229

OPM %

41.77%

49.93%

38.42%

19.87%

28.71%

39.10%

35.57%

36.12%

53.26%

65.98%

63.68%

340

116

539

419

Interest

Depreciation

135

149

Profit before Tax

203

614

218

175

116

261

238

919

1,475

3,087

3,534

Tax %

2.27%

8.16%

7.99%

0.88%

16.15%

25.27%

29.75%

17.99%

24.59%

24.39%

24.54%

Net Profit

199

564

201

174

195

167

753

1,112

2,334

2,667

EPS

0.00

7.08

14.20

12.15

55.66

82.19

57.22

—

Dividend Payout %

75.84%

33.99%

77.29%

44.05%

97.16%

93.58%

97.38%

26.95%

27.98%

17.48%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

2,419

2,764

2,616

2,156

2,178

2,260

2,242

2,817

3,721

5,685

Trade Payables

158

683

478

445

474

595

707

709

1,171

1,113

1,630

Total Liabilities

3,167

3,317

3,116

2,714

2,881

3,053

3,047

4,183

4,951

7,519

128

133

118

163

194

205

524

Capital Work in Progress

2,118

2,640

2,566

2,160

1,978

1,960

1,573

2,423

2,665

3,772

119

212

504

Cash & Bank

640

339

239

204

508

760

951

991

1,231

1,270

277

203

168

223

277

237

360

445

597

1,416

Total Assets

3,167

3,317

3,116

2,714

2,881

3,053

3,047

4,183

4,951

7,519

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

148

-8

101

100

262

145

492

516

2,652

Cash from Investing

-61

338

328

580

-216

-283

-329

-2,283

Cash from Financing

-76

-218

-348

-635

-78

-96

-186

-179

-206

-316

-11

-110

-2

-19

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

Promoters

0.00

11.09

12.98

15.99

16.78

18.14

16.26

17.45

19.42

21.32

11.56

11.65

12.04

12.31

11.25

19.89

23.72

25.06

24.12

0.00

0.09

54.56

52.43

50.03

48.80

50.03

63.78

58.75

55.42

54.47

BSE Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI

BSE Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI