Media Release

Media Release

Unaudited Consolidated and Standalone Financial results for the quarter ended June 30, 2021 

·       Consolidated Net profit attributable to the shareholders for the quarter ended June 30, 2021 up by 61% to Rs 53.42 crore from Rs. 33.15 crore in corresponding quarter of previous year.

·       Consolidated Operating EBITDA for the quarter ended June 30, 2021 up to Rs 41.31 crore from loss of Rs. 13.77 crore in corresponding quarter of previous year.

·       Consolidated Operating EBITDA Margin for the quarter ended June 30, 2021 is 26% as compared to negative 13% in corresponding quarter previous year.

·       90% increase in Mutual fund order received for the quarter ended June 30, 2021 as compared to corresponding quarter previous year.

52% increase in average daily turnover in Equity segment to Rs 5,661 crore for the quarter ended June 30, 2021 as compared to the Rs 3,724 crore during corresponding quarter previous year.

 

MUMBAI, August 6, 2021: BSE Ltd. (BSE), Asia’s oldest and first universal exchange and World’s fastest exchange with a speed of 6 microseconds, announced its unaudited consolidated and standalone financial results for the quarter ended June 30, 2021.

Quarterly Consolidated Financial Results at a Glance

 

Particulars

Q1FY22 (Rs Crore)

Q1FY21 (Rs Crore)

YoY Growth

Revenue from Operations

156.95

103.22

↑52%

Less: Operating Expenses

115.64

116.99

↓1%

Operating EBIDTA

41.31

(13.77)

Loss to Profit

Operating EBIDTA Margin

26%

(13%)

Loss to Profit

Add: Other Income

28.77

58.89

↓51%

Less: Non-operating expenses

15.76

15.45

↑2%

Profit before Tax, exceptional items and share of associates

54.32

29.67

↑83%

Add: Share of Profit of Associates

13.61

10.14

↑34%

Less: Taxes

16.06

7.33

↑119%

Net Profit

51.87

32.48

↑60%

Net Profit attributable to shareholders

53.42

33.15

↑61%

Business Highlights

Primary Markets

During the quarter ended 30th  June, 2021, in spite of the lockdowns due to emergence of 2nd wave of pandemic, various issuers raised over Rs. 45,242 crore through 76 issues on BSE Bond platform.  BSE BOND platform continues to be the preferred choice by India Inc to raise debt capital through private placements, structured instruments, public issues and also by Municipal Corporations for issuing Municipal Bonds.  Various issuers also raised more than 1657 crore through IPOs, Preferential and Rights issues during the first quarter of financial year 2021-22. The above is in addition to over Rs. 3,04,157 crore of private placed debts and commercial papers listed on BSE during the said period.

The total number of investors registered with BSE have been consistently growing and currently they stand over 7.57 crores.

Equity Cash Segment

BSE is seeing increasing participation from high frequency traders.  Further, enablement of best price execution by certain large broking houses has also resulted in the increased turnover in the equity cash segment.    With BSE’s superior technology and customer friendly frontend software, the average daily turnover in the equity cash segment increased by 57% from Rs.  2,676 crore in financial year 2019-20 to Rs. 4,197 crore in financial year 2020-21.   The same is also reflected in the Company’s strong operational performance in the current period.

Equity Derivatives Segment

BSE’s Equity Derivatives Segment average daily turnover increased by 80 times from Rs. 3,848 crore in the first quarter of financial year 2020-21 to Rs. 3.15 lakh crore in the first quarter of financial year 2021-22.  BSE’s market share in Equity Derivatives segment increased from 0.3% for the quarter ended 30th June, 2020 to 6.5% for the quarter ended 30th June, 2021.

The launch of Sensex 50 contracts with a differentiated expiry date from 29th June, 2020 has attracted a lot of attention and interest from the market participants.  It is expected that growth in BSE’s index derivatives would set grounds for growth in stock derivatives and BSE’s  equity segment too over time.

Commodity Derivatives Segment

BSE is India’s second largest Commodity Derivatives Exchange in India and offers a wide gamut of products across agri and non-agri segments.  The average daily turnover in our Commodity Derivatives Segment for the quarter ended on 30th June, 2021 increased to Rs. 3,267 crore as compared to Rs. 3,156 crore for the same period in previous financial year.   BSE’s market share in Commodity Derivatives segment increased from 2% for the quarter ended 30th June, 2020 to 9.1%  for the quarter ended 30th June, 2021.

Currency Derivatives Segment

The Currency Derivatives Segment continues to provide a very liquid platform for trading in currencies.  The average daily turnover in our Currency Derivatives Segment for the quarter ended on 30th June, 2021 increased by 29% to Rs. 23,618 crore as compared to Rs. 18,325 crore for the same period in previous financial year.

BSE SME Platform & BSE Startups Platform

With increasing focus on “Make in India” products and “Aatma Nirbhar Bharat”, Small & Medium Enterprises need to be provided with capital to enable their growth.  BSE has been encouraging and growth with governance of SME’s in India through listing on its BSE SME Platform.   As on 30th June, 2021, 340 companies were listed on BSE’s SME segment.  The said companies have raised funds amounting to Rs. 3515.93 crore.  The market capitalization of companies list on BSE SME segment as on exceeded  Rs. 29,020 crores.  BSE’s market share in listing of companies in SME segment stood strong at 61% as at 30st  June, 2021.

BSE is the first exchange in India to launch Startups Platform in December 2018 for promoting listing of startups in IT, ITES, Biotech and many other hi-tech industries.  10 startups have already raised Rs. 34.62 crores on this platform and are listed on this platform as on 30th June, 2021.

MF Platform

BSE StAR MF, India's largest Mutual Funds Distribution platform set new records in the current financial year.  The total number of transactions on BSE StAR MF during the quarter ended on 30th June, 2021 grew by 90% to 3.54 crore transactions as compared to 1.86 crore transactions during the quarter ended on 30th June, 2020.    Thus, the average daily number of transactions on BSE StAR MF during the quarter ended on 30th June, 2021 was 5.8 lakh as compared to 3.15 lakh for the quarter ended on 31st March 2020.   The Platform recorded highest number of transactions in a single day  of 19.51 lakh transaction on 12th July, 2021 surpassing the previous best record of 17.84 lakh on 12th April, 2021.

BSE StAR MF platform is the platform of choice for investment in Mutual Funds by investors.  It continues to witness consistent net equity inflow over the industry’s net equity inflow.  BSE StAR MF platform recorded a net equity inflow of Rs. 6,072 crore as compared to industry’s net equity inflow of Rs. 5,988 crore for the quarter ending on 30th June, 2021.

BSE StAR MF platform continues to scale new peaks of transactions in a single day.  The Platform has processed a record 17.84 lakh transactions in a single day on 12th April, 2021 surpassing the previous best record of 15.52 lakh transactions on 5th April, 2021.

The BSE StAR MF app, launched in May 2019, to help Mutual Fund Distributors register clients on real-time basis and execute paperless transactions, has been well received by the investment community and has processed over 26 lakh transactions till date.

India International Exchange at IFSC

BSE promoted international exchange at Gift City, Gandhinagar, India INX has been growing exponentially ever since it commenced trading activities on January 16, 2017. Average daily trading turnover on India INX during the quarter ended on 30th June, 2021 increased by 522% to USD 11.97 billion as compared to USD 1.92 billion during the quarter ended on 30th June, 2020.  It has witnessed an all-time high turnover of over USD 30.30 billion on 10th  March 2021. The previous all-time high turnover was USD 28.24 billion on 4th  March, 2021.  This increased trading activity validates the new products and initiatives taken by India INX and reflects growing interest in the IFSC among the broking fraternity. Even during the Covid-19 pandemic and lockdown, India INX was operational for 22 hours nonstop and has maintained its leadership as the No. 1 exchange in IFSC GIFT City. India INX is the dominant IFSC exchange in GIFT city with the market share of 87% in derivatives trading and 100% in bond listing for the quarter ended 30th June, 2021.

Owing to investments by certain strategic and financial investors, BSE’s stake in India INX has been bought down to 79.78% and BSE’s stake in India International Clearing Corporation, which is BSE promoted international clearing corporation at Gift City, Gandhinagar, has been bought down to 72.10% as at 30th June, 2021.

Insurance Broking

BSE Ebix Insurance Broking Private Limited, a joint venture of BSE and Ebix Fincorp Exchange Pte Ltd., is registered with Insurance Regulatory and Development Authority of India (IRDAI) as Direct (Life and General) Insurance Broker.  Currently its electronic insurance broking platform is integrated with seven General Insurance companies, five Health Insurance companies and 3 Life insurance companies.    Further, pending integration, portal of Insurance companies is being used for certain insurance companies to facilitate intermediation of policies.  BSE Ebix has over 4,400 Active Certified Point of Sales. The number of policies intermediated by BSE Ebix increased by 9%  to 1517 during the quarter ended 30th June, 2021 as compared to 1388 during the quarter ended 30th June, 2020.  The gross premium collected during the quarter ended 30th June, 2021 rose by 4.5 times to Rs. 2.83 crore as compared to Rs. 52 lakhs during the quarter ended 30th June, 2020.  BSE holds equity stake of 40% through its subsidiary BSE Investments Limited.

BSE E-Agricultural Spot Market

BSE E-Agricultural Markets Ltd. (BEAM), a JV  between BSE Investments and Frontier Agriculture Platforms Private Limited, operates a nationwide,  electronic, institutionalized, transparent  commodity spot trading platform to facilitate spot agricultural commodities transactions across value chain consisting of producers, intermediaries, ancillary services and consumers.  It has already enrolled 518 members including 441 framers and 10 FPO members.  199 trades worth Rs. 139 lakhs in 6 agricultural commodities were executed on the platform during the quarter ended on 30th June, 2021.  Considering the market and opportunities, this platform is expected to grow at a faster pace in time to come.  Regulatory approval has been sought for enabling spot trading of non-agricultural commodities also.

Power Exchange

As informed in our earlier call, the power market regulator, Central Electricity Regulatory Commission (CERC) has granted registration on  12th May, 2021 to Pranurja Solutions Ltd. to establish and operate a power exchange.  The Company proposes to commence live operations sometime during the current financial year 2021-22.  BSE has a stake of 22.61% in the proposed power exchange through its wholly owned subsidiary, BSE Investments Limited.

Commenting on financial performance for the quarter ended, Shri Ashishkumar Chauhan, MD & CEO, said: “BSE has continued to show a good growth across its business segments and new initiatives taking its business volumes in various segments to its all-time highs.   Our growth and our ability to set up new businesses and undertake newer initiatives while continuing grow profitably, demonstrates the potential of our business to deliver superior value to all our stakeholders going forward. “

About BSE

BSE (formerly Bombay Stock Exchange) established in 1875, is Asia’s first & the world’s fastest Stock Exchange with a speed of 6 microseconds. BSE is India’s leading exchange group and has played a prominent role in developing the Indian capital market. BSE is a corporatized and demutualised entity, with a broad shareholder base. BSE provides an efficient and transparent market for trading in equity, debt instruments, equity derivatives, currency derivatives, interest rate derivatives, mutual funds and stock lending and borrowing.

BSE also has a dedicated platform for trading in equities of small and medium enterprises (SMEs) that has been highly successful. BSE provides a host of other services to capital market participants including risk management, clearing, settlement, market data services and education. It has a global reach with customers around the world and a nation-wide presence. BSE’s systems and processes are designed to safeguard market integrity, drive the growth of the Indian capital market and stimulate innovation and competition across all market segments.

Indian Clearing Corporation Limited, a wholly owned subsidiary of BSE, acts as the central counterparty to all trades executed on the BSE and other exchanges trading platform and provides full novation, guaranteeing the settlement of all bonafide trades executed. BSE Institute Ltd, another fully owned subsidiary of BSE runs one of the most respected capital market educational institutes in the country. Central Depository Services Ltd. (CDSL), associate company of BSE, is one of the two Depositories in India.

Media Contact:

Yatin Padia

22 2272 8516

yatin.padia@bseindia.com