BSE Ltd – Board to Consider Buyback of Shares

Established in 1875, BSE is Asia’s first-ever stock exchange and the first in India to receive permanent recognition under the Securities Contract Regulation Act, 1956. It holds the title of the fastest stock exchange in the world with a speed of 6 microseconds and is a prominent exchange group in India. In 1986, BSE co-developed the S&P BSE SENSEX index, providing a benchmark for overall exchange performance. In 2017, it became the first listed stock exchange in India, located at Dalal Street in Mumbai, facilitating trading in various financial instruments. 

BSE Ltd has notified the Exchange of a scheduled Board Meeting on 06 July 2023 to consider a potential buyback. As a result, the company’s shares experienced a significant surge of over 7%. 

In their recent quarterly report, the company unveiled their consolidated Q4FY23 results, showcasing remarkable growth. The company witnessed a 13.6% surge in sales, amounting to Rs 259 crore, while its operating profit experienced a substantial increase of 49% to reach Rs 127 crore. Furthermore, the net profit of the company rose by 23% to Rs 89 crore compared to the corresponding period in the previous fiscal year. 

Over the past three years, the company has achieved a consistent growth rate, with sales expanding by 15% (CAGR) and profit increasing by 23% (CAGR). These results highlight the company’s impressive performance and sustained upward trajectory. 

The company has delivered returns of 9% over the past year and returns of 317% over the past 3 years. Additionally, the company has a ROCE of 12.1% and a ROE of 7.68%. Moreover, the company has been maintaining a healthy dividend payout ratio of 70.2% and has a PE multiple of 42.4x. 

On Monday, shares of the BSE surged by 7% and made an intraday high of Rs 651.65.