Price
Financials
Consolidated, Rs crore| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 362 | 426 | 539 | 602 | 813 | 768 | 847 | 958 | 1,068 | 1,244 | 1,564 | 1,566 |
| Expenses | 173 | 280 | 388 | 319 | 358 | 533 | 362 | 332 | 388 | 512 | 523 | 520 |
| Operating Profit | 189 | 146 | 151 | 282 | 456 | 236 | 484 | 625 | 680 | 732 | 1,041 | 1,046 |
| OPM % | 52% | 34% | 28% | 47% | 56% | 31% | 57% | 65% | 64% | 59% | 67% | 67% |
| Other Income | 24 | 22 | 29 | 91 | 30 | 83 | 205 | 115 | 91 | 108 | 78 | 160 |
| Interest | 9 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 23 | 25 | 26 | 24 | 29 | 30 | 30 | 27 | 32 | 45 | 55 | 43 |
| Profit before tax | 182 | 143 | 154 | 349 | 457 | 288 | 660 | 713 | 739 | 795 | 1,063 | 1,164 |
| Tax % | 35% | 26% | 30% | 24% | 24% | 24% | 25% | 25% | 25% | 25% | 25% | 25% |
| Net Profit | 118 | 106 | 107 | 264 | 346 | 219 | 494 | 538 | 557 | 597 | 795 | 873 |
| EPS in Rs | 2.97 | 2.66 | 2.64 | 6.53 | 8.54 | 5.41 | 12.17 | 13.28 | 13.75 | 14.82 | 19.55 | 21.43 |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 635 | 572 | 676 | 652 | 609 | 630 | 841 | 925 | 1,568 | 3,212 | 5,124 | 5,442 |
| Expenses | 392 | 381 | 401 | 434 | 482 | 429 | 489 | 609 | 857 | 1,336 | 1,644 | 1,943 |
| Operating Profit | 243 | 190 | 274 | 219 | 127 | 202 | 352 | 316 | 711 | 1,876 | 3,480 | 3,499 |
| OPM % | 38% | 33% | 41% | 34% | 21% | 32% | 42% | 34% | 45% | 58% | 68% | 64% |
| Other Income | 23 | 137 | 529 | 56 | 62 | 19 | 52 | 78 | 417 | 22 | 24 | 437 |
| Interest | 0 | 1 | 1 | 1 | 2 | 10 | 28 | 37 | 39 | 32 | 34 | 0 |
| Depreciation | 54 | 50 | 45 | 51 | 51 | 58 | 48 | 60 | 95 | 113 | 159 | 175 |
| Profit before tax | 212 | 276 | 757 | 223 | 135 | 153 | 327 | 297 | 995 | 1,754 | 3,311 | 3,761 |
| Tax % | 17% | 4% | 7% | 10% | 11% | 7% | 25% | 31% | 22% | 25% | 25% | |
| Net Profit | 177 | 265 | 702 | 199 | 121 | 142 | 245 | 206 | 772 | 1,322 | 2,487 | 2,822 |
| EPS in Rs | 1.38 | 4.57 | 14.22 | 4.27 | 3.02 | 3.58 | 6.27 | 5.43 | 19.17 | 32.65 | 61.22 | 69.55 |
| Dividend Payout % | 61% | 68% | 28% | 78% | 63% | 65% | 72% | 74% | 26% | 23% | 16% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | 23% | 52% | 77% | 61% | ||
| Compounded Profit Growth | 32% | 69% | 126% | 79% | ||
| Stock Price CAGR | % | 88% | 95% | 57% | ||
| Return on Equity | 20% | 28% | 36% | 46% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 10 | 11 | 11 | 11 | 10 | 9 | 9 | 27 | 27 | 27 | 27 | 82 |
| Reserves | 2,450 | 2,512 | 2,652 | 3,070 | 2,918 | 2,416 | 2,498 | 2,627 | 2,674 | 3,275 | 4,397 | 6,591 |
| Borrowings | 4 | 1 | 3 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Liabilities | 1,730 | 1,717 | 2,517 | 1,918 | 1,575 | 2,051 | 2,120 | 3,531 | 3,293 | 6,148 | 5,918 | 6,773 |
| Total Liabilities | 4,195 | 4,240 | 5,183 | 4,998 | 4,504 | 4,476 | 4,627 | 6,185 | 5,994 | 9,450 | 10,342 | 13,446 |
| Fixed Assets | 251 | 241 | 249 | 207 | 204 | 190 | 184 | 161 | 252 | 285 | 300 | 642 |
| CWIP | 4 | 3 | 6 | 7 | 18 | 22 | 4 | 10 | 2 | 15 | 54 | 77 |
| Investments | 2,276 | 2,115 | 1,996 | 2,442 | 2,380 | 2,132 | 1,844 | 1,968 | 1,453 | 2,390 | 2,845 | 3,837 |
| Other Assets | 1,664 | 1,882 | 2,931 | 2,342 | 1,902 | 2,132 | 2,595 | 4,046 | 4,286 | 6,761 | 7,142 | 8,890 |
| Total Assets | 4,195 | 4,240 | 5,183 | 4,998 | 4,504 | 4,476 | 4,627 | 6,185 | 5,994 | 9,450 | 10,342 | 13,446 |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | -153 | -44 | 817 | -239 | -313 | 397 | -68 | 1,442 | -137 | 2,643 | 414 | 3,104 |
| Cash from Investing Activity | 371 | 164 | 95 | -236 | 347 | 470 | -189 | -980 | -111 | -871 | -758 | -2,678 |
| Cash from Financing Activity | -45 | -120 | -85 | 108 | -352 | -618 | -55 | 9 | -186 | -149 | -206 | -304 |
| Net Cash Flow | 173 | -0 | 827 | -366 | -318 | 249 | -313 | 471 | -434 | 1,623 | -550 | 122 |
| Free Cash Flow | -225 | -106 | 759 | -301 | -375 | 359 | -106 | 1,410 | -280 | 2,513 | 262 | 2,589 |
| CFO/OP | -36% | 12% | 447% | -47% | -124% | 350% | -13% | 433% | -22% | 396% | 40% | 108% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 23 | 27 | 44 | 30 | 27 | 42 | 51 | 28 | 36 | 49 | 33 | 39 |
| Inventory Days | ||||||||||||
| Days Payable | ||||||||||||
| Cash Conversion Cycle | 23 | 27 | 44 | 30 | 27 | 42 | 51 | 28 | 36 | 49 | 33 | 39 |
| Working Capital Days | -772 | -660 | -1,181 | -791 | -605 | -889 | -792 | -1,148 | -846 | -1,107 | -452 | -333 |
| ROCE % | 10% | 10% | 10% | 25% | 8% | 5% | 8% | 15% | 12% | 23% | 47% | 60% |
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| FIIs | 7.90% | 12.03% | 13.04% | 11.12% | 13.01% | 16.03% | 16.78% | 18.14% | 16.25% | 17.45% | 19.42% | 21.32% |
| DIIs | 8.09% | 11.27% | 12.69% | 11.60% | 11.68% | 12.07% | 12.33% | 11.27% | 19.91% | 23.74% | 25.09% | 24.15% |
| Government | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.09% | 0.09% | 0.09% | 0.09% |
| Public | 58.90% | 53.56% | 51.91% | 54.52% | 52.40% | 50.00% | 48.78% | 50.01% | 63.76% | 58.73% | 55.40% | 54.45% |
| Others | 25.10% | 23.14% | 22.36% | 22.75% | 22.90% | 21.90% | 22.11% | 20.58% | 0.00% | 0.00% | 0.00% | 0.00% |
| No. of Shareholders | 4,05,722 | 4,42,114 | 4,40,058 | 5,49,758 | 5,43,812 | 5,89,552 | 6,68,174 | 9,49,953 | 12,91,812 | 10,58,144 | 9,75,435 | 9,99,275 |
Fundamentals
Market Cap₹ 1,30,523 Cr.
Current Price₹ 3,200
Stock P/E46.1
Book Value₹ 164
ROCE60.0 %
ROE46.0 %
Dividend Yield0.31 %
Face Value₹ 2.00
Compounded Sales Growth (TTM)61%
Compounded Profit Growth (TTM)79%
Consolidated figures.
Valuation
Market capRs 124,241 Cr
Enterprise valueRs 119,069 Cr
P/E (TTM)43.88x
Price to book18.62x
Price to sales22.83x
EV / EBITDA29.99x
EV / EBIT31.37x
EV / sales21.88x
Price to cash flow40.03x
Earnings yield2.28%
Dividend yield0.33%
P/E, 3-year average25.69x
P/B, 3-year average8.48x
P/E, 5-year average20.52x
P/B, 5-year average5.55x
Profitability
Operating margin (excl. other income)67.92%
Operating margin (incl. other income)68.39%
EBITDA margin72.96%
Pre-tax margin69.12%
Net profit margin52.03%
Net margin, latest quarter55.81%
ROE45.00%
ROCE60.30%
ROA20.99%
ROE, 3-year average35.09%
ROCE, 3-year average46.98%
ROA, 3-year average14.82%
ROE, 5-year average24.67%
ROCE, 5-year average33.44%
ROA, 5-year average10.56%
ROIC (approx.)190.07%
Tax rate24.88%
Other income / net worth0.36%
Growth
Sales growth (latest year)59.53%
Profit growth (latest year)88.32%
Sales CAGR, 3 years76.95%
Sales CAGR, 5 years52.05%
Profit CAGR, 3 years124.50%
Profit CAGR, 5 years76.71%
Sales growth QoQ0.16%
Profit growth QoQ9.62%
Sales growth YoY (latest quarter)63.48%
Profit growth YoY (latest quarter)62.03%
Per share
EPS (TTM)Rs 69.42
EPS (latest year)Rs 61.22
EPS (latest quarter)Rs 21.43
EPS, 3-year averageRs 72.22
EPS, 5-year averageRs 50.35
Book value per shareRs 163.60
Sales per shareRs 133.42
Cash flow per shareRs 76.09
Free cash flow per shareRs 63.47
Dividend per share (latest year)Rs 10.00
Dividend per share, 3-year averageRs 16.00
Dividend per share, 5-year averageRs 14.70
Dividends
Dividend payout16.34%
Dividend payout, 3-year average21.97%
Dividend payout, 5-year average42.27%
Efficiency
Asset turnover0.38x
Fixed asset turnover7.98x
Debtor days39 days
Debtors turnover9.26x
Cash conversion cycle39 days
Working capital days-333 days
Leverage
Total debtRs 0 Cr
Cash and bankRs 5,173 Cr
Net debtRs -5,173 Cr
Debt to equity0.00x
Net debt / EBITDA-1.30x
Interest coverage110.06x
Current ratio (filing 2026-03-31)1.53x
Quick ratio (filing 2026-03-31)1.53x
Trade payables (filing 2026-03-31)Rs 131 Cr
Owners' fund to total sources49.63%
Debt to assets0.00%
Cash flow
Cash from Operating Activity (latest year)Rs 3,104 Cr
Cash from Investing Activity (latest year)Rs -2,678 Cr
Cash from Financing Activity (latest year)Rs -304 Cr
Net Cash Flow (latest year)Rs 122 Cr
Free cash flow (latest year)Rs 2,589 Cr
FCFE (approx.: FCF + change in debt)Rs 2,589 Cr
Cash from ops / profit, 5 years1.48x
Sales to cash flow1.65x
Statement figures
Net sales (TTM)Rs 5,442 Cr
Net sales (latest year)Rs 5,124 Cr
Sales (latest quarter)Rs 1,566 Cr
Operating profit excl. other income (latest year)Rs 3,480 Cr
Operating profit (latest quarter)Rs 1,046 Cr
Other income (TTM)Rs 437 Cr
EBITDA (TTM)Rs 3,971 Cr
PBDT (TTM)Rs 3,936 Cr
Profit before tax (TTM)Rs 3,761 Cr
Tax (latest year)Rs 824 Cr
Net profit (TTM)Rs 2,832 Cr
Net profit (latest year)Rs 2,497 Cr
Net profit (latest quarter)Rs 874 Cr
Depreciation (TTM)Rs 175 Cr
Depreciation (latest quarter)Rs 43 Cr
Interest (TTM)Rs 34 Cr
Cost of goods sold (latest year)Rs 333 Cr
Total expenditure (latest year)Rs 1,644 Cr
Total income (latest year)Rs 5,149 Cr
Share capitalRs 82 Cr
ReservesRs 6,591 Cr
Shareholders' fundsRs 6,673 Cr
Total assetsRs 13,446 Cr
Net blockRs 642 Cr
Capital work in progressRs 77 Cr
InvestmentsRs 3,837 Cr
ReceivablesRs 553 Cr
Other liabilitiesRs 6,773 Cr
Shares outstanding (crore)40.79
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 43.9 is at the 58th percentile of its own 9.4-year range
(median 31.9, low 3.7, high 171.9).
P/B 18.62 is at the 79th percentile (median 2.68).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
| Period | BSE | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | -4.3% | -2.8% | -1.5 pts |
| 1 month | -6.0% | -6.8% | +0.7 pts |
| 3 months | -20.2% | -7.6% | -12.6 pts |
| 6 months | +13.5% | +0.4% | +13.1 pts |
| 1 year | +49.1% | -9.9% | +59.0 pts |
| 2 years | +132.4% | -13.6% | +145.9 pts |
| 3 years | +604.0% | +14.2% | +589.9 pts |
| 5 years | +2149.0% | +27.9% | +2121.1 pts |
292 mutual fund schemes hold about ₹18,988 Cr.
Over three months 92 bought more and 89 sold (share counts, price move removed).
| Fund | Weight | Est. Cr | 3m shares |
|---|---|---|---|
| Nippon India Growth Mid Cap Fund | 2.45% | 1,280 | +3% |
| Kotak Flexi Cap Fund | 1.80% | 1,017 | +5% |
| Kotak Flexi Cap Fund | 1.80% | 1,012 | +5% |
| Motilal Oswal Midcap Fund | 1.76% | 755 | -39% |
| Kotak Large & Mid Cap Fund | 2.03% | 656 | +3% |
| Kotak Arbitrage Fund(M | 0.73% | 553 | +376% |
| ICICI Pru Large Cap Fund | 0.66% | 531 | +100% |
| HDFC Flexi Cap Fund | 0.45% | 515 | +43% |
| Invesco India Midcap Fund | 3.22% | 512 | -21% |
| ICICI Pru Multi Cap Fund | 2.59% | 507 | -1% |
| ICICI Pru Multi Cap Fund | 2.59% | 487 | -1% |
| Kotak Mid Cap Fund | 0.58% | 414 | +1% |
| ICICI Pru Focused Fund | 2.19% | 394 | +100% |
| Edelweiss Mid Cap Fund | 1.97% | 393 | -5% |
| UTI Nifty200 Momentum 30 Index Fund | 4.13% | 349 | +5% |
| SBI Flexicap Fund | 1.46% | 339 | +100% |
| ICICI Pru Mid Cap Fund | 3.95% | 332 | -1% |
| ICICI Pru Large & Mid Cap Fund | 0.95% | 321 | +517% |
| Axis Midcap Fund | 0.92% | 316 | -36% |
| ICICI Pru Mid Cap Fund | 3.95% | 314 | -1% |
| Invesco India Large & Mid Cap Fund | 2.53% | 297 | -4% |
| Mirae Asset Midcap Fund | 1.37% | 287 | +23% |
| Sundaram Mid Cap Fund | 1.88% | 279 | -10% |
| Sundaram Mid Cap Fund | 1.88% | 272 | -10% |
| Invesco India Smallcap Fund | 1.70% | 268 | -10% |
Red flags
F-score 8 of 8| explain | Receivables outrunning sales Receivables grew 92% vs sales +60% in 2026 |
| look | Regulator order or action Regulator order or action 2025-12-17: BSE Limited has informed the Exchange about Action(s) taken or orders passed. |
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.
Latest quarter
Jun 2026Sales ₹1,566 Cr +63.5% vs Jun 2025.
Net profit ₹873 Cr +62.3%.
Activity
Compare| Company | Mcap (Cr) | P/E | ROCE |
|---|---|---|---|
| National Stock Exchange Of India Ltd | 437,902 | 49.0 | 40.6 % |
| Multi Commodity Exchange of India Ltd | 82,413 | 53.4 | 71.4 % |
| Indian Energy Exchange Ltd | 9,487 | 19.5 | 51.8 % |
| Date | Client | Side | Qty | Price |
|---|---|---|---|---|
| 2026-09-29 | Uti Mutual Fund | BUY | 2,712,950 | 3,200.00 |
| 2026-09-29 | Nippon India Mutual Fund | BUY | 2,529,550 | 3,200.00 |
| 2026-09-29 | Goldman Sachs Investments Mauritius I Limited | SELL | 2,381,571 | 3,200.00 |
| 2026-09-29 | Bnp Paribas Financial Markets | SELL | 4,451,693 | 3,199.54 |
| Ex-date | Action | Factor |
|---|---|---|
| 2026-07-10 | Dividend - Rs 10 Per Share | |
| 2025-05-23 | Bonus 2:1 | 0.3333 |
| 2025-05-14 | Dividend - Rs 23 Per Share | |
| 2024-06-14 | Dividend - Rs 15 Per Share | |
| 2023-09-14 | Buy Back | |
| 2023-08-04 | Dividend - Rs 12 Per Sh | |
| 2022-06-23 | Dividend - Rs 13.50 Per Share | |
| 2022-03-21 | Bonus 2:1 | 0.3333 |
| 2021-08-05 | Dividend - Rs 21 Per Share | |
| 2020-07-22 | Dividend - Rs 17 Per Share | |
| 2019-07-26 | Buyback | |
| 2019-06-27 | Dividend - Rs 25 Per Share | |
| 2018-12-11 | Interim Dividend - Rs 5 Per Share | |
| 2018-07-25 | Dividend- Rs 31 Per Share | |
| 2018-02-15 | Interim Dividend Rs 5/- Per Share | |
| 2017-08-24 | Dividend -Rs 23/- Per Share | |
| 2017-02-22 | Interim Dividend Rs 5/- Per Share |
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
Put / call open interest0.68
Max pain (expiry 2026-10-27)3,200
Largest call open interest at3,300
Largest put open interest at3,000
Implied volatility, at the money37.9%
Underlying at snapshot3,046.00
Open interest by strike around the price, nearest expiry. End-of-day NSE snapshot, 01-Oct-2026 15:40:00. Max pain is the strike where option buyers together would lose the most at expiry.
| Trade date | Shares sold short |
|---|---|
| 2026-09-30 | 1 |
| 2026-09-29 | 11,433 |
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
| Order date | Forum | Case |
|---|---|---|
| 2021-06-14 | NCLT | BSE Ltd Vs Mindvision Capital Ltd |
| 2021-04-20 | NCLT | Modern Insulators Ltd. & Ors. Vs BSE Ltd. & Ors. |
| 2021-04-06 | NCLAT | BSE Ltd VS ACIL Cotton Industries Ltd |
| 2021-04-06 | NCLAT | BSE Ltd VS KCCL Plastic Ltd |
| 2021-03-17 | NCLAT | BSE Ltd VS ACIL Cotton Industries Ltd |
| 2021-03-17 | NCLAT | BSE Ltd VS KCCL Plastic Ltd |
Orders from NCLT, NCLAT and CESTAT naming the company. Click a row for the order.
Not on any NSE surveillance list in the latest file.
Quick answers
What is the market cap of BSE Ltd?
BSE Ltd (BSE) has a market capitalisation of Rs 1,30,523 Cr. at the 2026-10-01 close.
What is the P/E ratio of BSE Ltd?
BSE Ltd trades at a P/E of 46.1 on trailing twelve-month profit, at the 2026-10-01 close.
What were BSE Ltd's latest quarterly results?
In the Jun 2026 quarter, BSE Ltd sales was Rs 1,566 Cr (+63.5% vs Jun 2025) and net profit was Rs 873 Cr.
What is the 52-week high and low of BSE Ltd?
The 52-week high is Rs 4,446.80 and the 52-week low is Rs 2,035.10.