BSE Ltd delivered its strongest-ever quarterly performance in Q4 FY24, driven by a massive surge in revenue and profitability. The company reported a net profit of ₹490 crore, up 357 percent from ₹107 crore in the same quarter last year. Sequentially, profit also more than doubled, rising 122.7 percent from ₹220 crore in Q3 FY24. A robust increase in top-line performance and healthy margin expansion supported the sharp rise in profit.
Revenue for the quarter stood at ₹850 crore, a growth of 74.2 percent year-on-year compared to ₹488 crore in Q4 FY23. The exchange also reported a significant EBITDA jump, reaching ₹550 crore versus ₹150 crore last year, reflecting a 266.7 percent increase. The EBITDA margin expanded sharply to 65.5 percent from 31.17 percent in the corresponding period, showcasing the company’s improved cost leverage and higher fee-based income.
Also Read: 10% Lower Circuit after Bank of Baroda Q4 FY24 Results
To reward shareholders, BSE’s board recommended a final dividend of ₹18 per share along with a special dividend of ₹5 per share, reflecting the strong cash-generating ability of the business. The dividend announcement follows a period of sustained financial growth, with free cash flow of ₹258 crore for FY24 and a three-year cumulative free cash flow of ₹2,688 crore.
BSE’s stock is currently trading at ₹6,683, having surged over 119 percent in the past year. The stock commands a premium valuation with a price-to-earnings ratio of 68.7 and a price-to-book value of 20.4, reflecting market optimism and consistent earnings momentum. Despite the high valuations, return ratios remain extremely strong, with a return on equity of 34.1 percent, return on capital employed at 43.5 percent, and return on assets at 13.3 percent.
Over the last three years, BSE has recorded a profit CAGR of 69 percent and sales CAGR of 56 percent, with TTM profit growth at an astonishing 189 percent. Operationally, net profit margin for FY24 stood at 41 percent and operating profit margin at 54.6 percent, placing BSE among the most profitable listed exchanges globally.
Shareholding trends indicate growing institutional interest. As of March 2025, foreign institutional investors held 16.78 percent of the company, while domestic institutions held 12.33 percent. Public shareholding reduced to 48.78 percent, with the rest categorized under others.
Also Read: DCM Shriram Q4 FY24 Results: Net Profit Surges 52% YoY, Margins Improve; ₹3.40 Dividend Announced
Analyst sentiment remains highly favorable. Out of 12 analysts covering the stock, 58 percent have a ‘Buy’ rating, 25 percent recommend ‘Outperform’, and the remaining 17 percent suggest a ‘Hold’. There are no underperform or sell calls, indicating continued confidence in the stock’s growth outlook.
With record-high quarterly earnings, healthy margins, growing investor interest, and strong return metrics, BSE appears well-positioned for continued growth in the Indian capital markets ecosystem.
Disclaimer
This article is for educational and informational purposes only. We are not SEBI-registered investment advisors; none of this content should be considered financial advice. Please consult a certified financial planner or advisor before making any investment decisions.
Aditya Gaur is the founder of FinanceXaditya and a seasoned stock market investor with over 7 years of experience. Known for building India’s first public dividend growth portfolio showcase, he shares time-tested strategies and real insights that help everyday investors create wealth. With 50,000+ followers across social media, Aditya has become a trusted voice in personal finance and long-term investing.
