BSENSEQ1 FY 2023August 10, 2022

BSE Limited

5,749words
2turns
1analyst exchanges
3executives
Management on call
Nayan Mehta
Chief Financial Officer, Mr. Neeraj Kulshrestha
Sameer Patil
Chief Business Officer, Mr. Girish Joshi – Chief
Kersi Tavadia
Chief Information Officer. Do note
Key numbers — 40 extracted
Rs. 198 crore
the down trending market BSE Group delivered a stable financial performance with total revenue of Rs. 198 crores for Q1 FY 2023, a growth of 6.4% as compared to corresponding quarter last year. I will start wi
6.4%
d a stable financial performance with total revenue of Rs. 198 crores for Q1 FY 2023, a growth of 6.4% as compared to corresponding quarter last year. I will start with the gross financial results for
19%
the 1 BSE - PUBLIC quarter ended June 30, 2022. BSE’s operational revenues have grown by 19% to Rs. 187 crores from Rs. 157 crores in the corresponding quarter previous year. BSE net profit
Rs. 187 crore
BSE - PUBLIC quarter ended June 30, 2022. BSE’s operational revenues have grown by 19% to Rs. 187 crores from Rs. 157 crores in the corresponding quarter previous year. BSE net profit attributable to
Rs. 157 crore
quarter ended June 30, 2022. BSE’s operational revenues have grown by 19% to Rs. 187 crores from Rs. 157 crores in the corresponding quarter previous year. BSE net profit attributable to shareholders of the c
Rs. 44 crore
nding quarter previous year. BSE net profit attributable to shareholders of the company stands at Rs. 44 crores as compared to Rs. 53.4 crores in the corresponding quarter previous year. The decline is as a r
Rs. 53.4 crore
BSE net profit attributable to shareholders of the company stands at Rs. 44 crores as compared to Rs. 53.4 crores in the corresponding quarter previous year. The decline is as a result of fall in investment inc
98%
ed to corresponding previous year. The clearance and settlement operational revenues increased by 98% to Rs. 17.1 crores from Rs. 8.63 crores. The treasury income from Clearing and Settlement Funds h
Rs. 17.1 crore
orresponding previous year. The clearance and settlement operational revenues increased by 98% to Rs. 17.1 crores from Rs. 8.63 crores. The treasury income from Clearing and Settlement Funds have increased by 8
Rs. 8.63 crore
year. The clearance and settlement operational revenues increased by 98% to Rs. 17.1 crores from Rs. 8.63 crores. The treasury income from Clearing and Settlement Funds have increased by 85% to Rs. 18.7 crores
85%
es from Rs. 8.63 crores. The treasury income from Clearing and Settlement Funds have increased by 85% to Rs. 18.7 crores from Rs. 10.2 crores. The listing rated income increased by 15% to Rs. 57.7 cr
Rs. 18.7 crore
Rs. 8.63 crores. The treasury income from Clearing and Settlement Funds have increased by 85% to Rs. 18.7 crores from Rs. 10.2 crores. The listing rated income increased by 15% to Rs. 57.7 crores from Rs. 50.1
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Guidance — 11 items
Pranav Takkar
qa
“As far as the LIC investment in India ICC, INX goes, so obviously that is subject to approval from Regulatory Authority and once that approval comes through obviously appropriate action will be taken.”
Pranav Takkar
qa
“So, in that case also this LIC process will go on or it will be put on hold or how exactly it works because I think both of the things might be on the table right now.”
Pranav Takkar
qa
“Sameer Patil to comment on the EGR point when they will be launched and about it.”
Pranav Takkar
qa
“So as when the announcement is there, I am sure it will be very widely reported.”
Pranav Takkar
qa
“So, everything as per requirements of SEBI will take place, and as when it is announced 8 BSE - PUBLIC it will be very widely reported.”
Pranav Takkar
qa
“You must also understand that as in exchange, we function very stably, and which is what will be reflected in general.”
Pranav Takkar
qa
“So, there will be corresponding increase in our technology cost also.”
Pranav Takkar
qa
“Devesh Mehta Okay and these are sir, one time or this will be?”
Pranav Takkar
qa
“Eventually revenues will be charged as when 12 BSE - PUBLIC there will be serious amount of liquidity, but just to remind you, we started three years and 2.5 years was during the COVID period.”
Pranav Takkar
qa
“Pankaj Rawal Sir my question is what will be EBITDA or PAT margin you must be making of StAR MF strategy?”
Risks & concerns — 9 flagged
Devesh Agarwal Sir talking about the realizations, I see that in the non-exclusive equity segment there has been some decline in the realization, why is that so?
— Pranav Takkar
Devesh Agarwal Even on the mutual fund side if you see despite having higher volumes our revenues are flat on quarter-on-quarter basis again implying that there is decline in realization.
— Pranav Takkar
There has been a decline in realization because as we are aware, we have spoken in earlier discussions also that we have a credit structure.
— Pranav Takkar
Devesh Agarwal Okay realizations are expected to further decline with the increase in the volumes.
— Pranav Takkar
Sameer Patil So as far as the spend is concern, they are not significant spends and looking at two segments, the equity derivatives, and the commodities.
— Pranav Takkar
Amit Chandra And also, the transaction charges last year it was mostly supported by the special rate and there was huge growth in that which is now like coming on so how do we see that, and I know that is not in your control but that is a significant risk to the transaction charges because in a market which is not doing well there is risk of this going off.
— Pranav Takkar
They also tend to decrease, this is a volatile segment for us and to that extent, we are susceptible to volatility in our transaction charges income.
— Pranav Takkar
The first one is that over the past couple of years, we noticed the decline in the market share and the currency derivative segment and before interoperability got implemented, BSE had a significant market share of almost 40%-50%.
— Pranav Takkar
So, we ideally thought that the market would have actually gone up post the implementation, but we have actually seen a decline ever since it has been implemented.
— Pranav Takkar
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Q&A — 1 exchanges
Q
My question is related to StAR MF. The presentation which we have seen in previous financial results. So, request that you try to make it little bit more explanatory in terms where exactly its going and with reference to previous discussions that management is actively looking divestment of some of the stake in StAR MF and also the divestment with reference to the recent news where LIC has shown interest to buy some stake in ICC and also INX. So, if you can share views and what are updates there? Nayan Mehta As far as your mutual fund thing goes our presentation is old as the same which we hav
Management
Speaking time
Moderator
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Pranav Takkar
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