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BSE Shares Tumble Despite Soaring Profits
8 May
Summary
- BSE's net profit soared 61% YoY to Rs 797 crore in Q4 FY26.
- Revenue for the March quarter jumped 85% to Rs 1,564 crore.
- Analyst ratings are split between 'Buy' and 'Hold' for BSE stock.
In the March quarter of FY26, BSE announced a consolidated net profit of Rs 797 crore, marking a substantial 61% increase from the previous year's Rs 494 crore. Revenue for the same period saw an 85% jump, climbing to Rs 1,564 crore from Rs 847 crore in the prior year.
Further analysis of the full financial year FY26 revealed consolidated revenue of Rs 5,148 crore and an EBITDA margin of 48%. These strong figures were achieved despite a recent dip in BSE shares, which fell as much as 3.3% to Rs 3,832 on the NSE.
Industry experts offer varied perspectives on BSE's outlook. Nuvama Institutional Equities maintains a 'Buy' rating with a Rs 4,570 target, citing BSE's lower exposure to discontinued weekly contracts and significant potential in expanding its derivatives customer base.
Conversely, Jefferies holds a 'Hold' rating and a Rs 3,620 target, expressing caution due to BSE's reliance on Sensex weekly options, competition, and regulatory risks. They have adjusted EPS estimates downwards for FY27 and FY28.
Motilal Oswal Financial Services has issued a 'Neutral' rating with a raised target of Rs 4,400, acknowledging BSE's broad-based growth across segments and its strategic investments in technology and product diversification.
