Event Date: March 5, 2024
NSE's consolidated Q4 operating revenue increased by 34% year-over-year (YoY) to ₹4,625 crores, while consolidated Q4 profit rose by 20% YoY to ₹2,488 crores. Standalone Q4 operating revenue grew by 25% YoY to ₹4,123 crores, and standalone Q4 profit increased by 3% YoY to ₹1,856 crores. The NSE Board recommended a dividend of ₹90 per share (pre-bonus) for the fiscal year ending FY24, amounting to a payout of ₹4,455 crores, and also recommended issuing 4 bonus shares for every 1 share held, subject to necessary approvals.
NSE contributed ₹43,514 crores to the exchequer in FY24, with Securities Transaction Tax (STT) and Commodities Transaction Tax (CTT) comprising ₹34,381 crores, income tax of ₹3,275 crores, stamp duty of ₹2,833 crores, GST of ₹1,868 crores, and SEBI charges of ₹1,157 crores. NSE's STT accounts for 3.77% of the net personal income tax collections for the financial year 2023-24.
Financial Highlights - Q4 FY24
Consolidated: Total revenue increased by 35% YoY to ₹5,080 crores. Operating revenue increased by 34% YoY to ₹4,625 crores, representing 91% of the total revenue. Total expenses rose by 71% YoY to ₹1,705 crores. Cash expenses stood at ₹1,589 crores. The increase in total expenses was mainly due to the additional contribution to the Core SGF as desired by SEBI (₹371 crores) and regulatory fees (₹136 crores). Operating EBITDA was 66% at ₹3,036 crores, with the additional contribution to the Core SGF as desired by SEBI, and 78% at ₹3,610 crores without the additional contribution to the Core SGF. Share of profit of associates was ₹22 crores. Effect of discontinued operations (net of tax) was (₹12 crores). Profit after tax stood at 49% at ₹2,488 crores. Earning per share (FV Re.1/-) was ₹50.25 (non-annualized).
Standalone: Total revenue increased by 26% YoY to ₹4,468 crores. Operating revenue increased by 25% YoY to ₹4,123 crores, representing 92% of the total revenue. Total expenses rose by 73% YoY to ₹1,926 crores. Cash expenses stood at ₹1,834 crores. The increase in total expenses was mainly due to the additional contribution to the Core SGF as desired by SEBI (₹371 crores), Clearing & Settlement charges (₹184 crores), and SEBI Regulatory fees (₹136 crores). Operating EBITDA was 56% at ₹2,288 crores, with additional contribution to the Core SGF as desired by SEBI, and 69% at ₹2,863 crores without the additional contribution to the Core SGF as desired by SEBI. Profit after tax was 42% at ₹1,856 crores. Earning per share (FV Re.1/-) was ₹37.50 (non-annualized). All figures exclude Subsidiary Dividend.
Financial Highlights – FY24
Consolidated: Total revenue increased by 28% YoY to ₹16,352 crores. Operating revenue increased by 25% YoY to ₹14,780 crores, representing 90% of the total revenue. Total expenses rose by 90% YoY to ₹5,350 crores. Cash expenses stood at ₹4,910 crores. The increase in total expenses was mainly due to the additional contribution to the Core SGF as desired by SEBI (₹1,538 crores) and regulatory fees (₹503 crores). Operating EBITDA was 67% at ₹9,870 crores with the additional contribution to the Core SGF as desired by SEBI, and 79% at ₹11,611 crores without the additional contribution. Share of profit of associates was ₹101 crores. Profit on sale of investments was ₹81 crores. Effect of discontinued operations (net of tax) was (₹101 crores). Profit after tax was 51% at ₹8,306 crores. Earning per share (FV Re.1/-) was ₹167.79. Net worth was ₹23,974 crores (as on March 31, 2023 ₹20,478 crores). Book Value per share was ₹484 (as on March 31, 2023 ₹414). Risk Reserve was ₹8,533 crores (as on March 31, 2023 ₹6,583 crores). Corpus of Core SGF as on March 31, 2024 was ₹8,819 crores (as on March 31, 2023 ₹4,797 crores).
Standalone: Total revenue increased by 24% YoY to ₹14,717 crores. Operating revenue increased by 21% YoY to ₹13,511 crores, representing 92% of the total revenue. Total expenses rose by 89% YoY to ₹6,139 crores. Cash expenses stood at ₹5,800 crores. The increase in total expenses was mainly due to the additional contribution to the Core SGF as desired by SEBI (₹1,538 crores), Clearing & Settlement charges (₹561 crores), and SEBI regulatory fees (₹502 crores). Operating EBITDA was 57% at ₹7,711 crores with the additional contribution to the Core SGF as desired by SEBI, and 70% at ₹9,452 crores without the additional contribution. Profit after tax was 43% at ₹6,393 crores. Earning per share (FV Re.1/-) was ₹129.15. Net worth was ₹19,362 crores (as on March 31, 2023 ₹16,676 crores). Book Value per share was ₹391 (as on March 31, 2023 ₹337). All figures exclude Subsidiary Dividend.
Key Highlights – Markets
In Q4 FY24, the CM increased by 127% (Standalone 123%, Market Share 92%(93%)), Equity Futures increased by 57%(Standalone 57%, Market Share 99.91% (100%)), Equity Options increased by 33% (Standalone 25%, Market Share 94.14%(100%)), Currency Futures decreased by (41)% (Standalone (32)%, Market Share 78% (68%)), Currency Options decreased by (55)% (Standalone (55)%, Market Share 99.59%(98.61%)), and Interest Rate Future increased by 101%(Standalone (31)%, Market Share 19% (54%)). Debt (RFQ Platform): Market Share 94% (99%). NSE Mutual Fund: Market Share 23% (31%). NSE continues to be the world's largest derivatives exchange for the 5th consecutive year.
For FY24, the CM increased by 52%(Standalone 51%, Market Share 93% (93%)), Equity Futures increased by 15%(Standalone 15%, Market Share 99.94% (100%)), Equity Options increased by 32% (Standalone 28%, Market Share 96.9% (100%)), Currency Futures decreased by (35)% (Standalone (29)%, Market Share 75% (68%)), Currency Options decreased by (38)%(Standalone (36)%, Market Share 99% (97%)), and Interest Rate Future increased by 18%(Standalone 14%, Market Share 51% (52%)). Debt (RFQ Platform): Market Share 95% (99%). NSE Mutual Fund: Market Share 30% (32%). NSE continues to be the world's largest derivatives exchange for the 5th consecutive year.
NSE Standalone – FY24 – Revenue Drivers
Operating Revenue was ₹13,511 crs (PY ₹11,181 crs) with a YoY Growth of 21%. Operating Revenue accounts for 92% of Total Revenue, which was ₹14,717 crs (PY ₹11,859 crs) with a YoY Growth of 24%. Revenue drivers include Listing Services (₹223 crs), Data Centre & Connectivity Charges (₹884 crs), Treasury Income (₹1,274 crs), and Transaction Charges (₹12,049 crs).
NSE Standalone – FY24 – Expenditure Profile
Total Expenses were ₹6,139 crs (PY ₹3,240 crs), with Cash Expenses of ₹5,800 crs (PY ₹2,938 crs), representing an increase of ₹2,863 crs. Expenditure items include Clearing & Settlement Charges (₹561 crs) and SEBI Regulatory Fees (₹502 crs).
NSE Standalone – FY24 – Key Ratios
Operating Profit was 55%, operating EBITDA was 57% and EPS was 129.15. Operating Profit for 2020,2021,2022 and 2023 were 59%, 72%, 71% and 71% respectively. Operating EBITDA for 2020,2021,2022 and 2023 were -63%, -75%, -74% and -74% respectively.
NSE Consolidated – FY24 – Key Ratios
Operating Profit was 64%, operating EBITDA was 67%, EPS was 167.79 and PBT was 68%.
Access essential information and documents to make informed investment decisions
Stay updated with upcoming events, conferences, and announcements
Access quarterly and half-yearly financial statements and reports
Download comprehensive annual reports and financial summaries
Access investor presentations, corporate briefings, and slideshows
Our blog provides insightful information about unlisted shares, offering a deeper understanding of how these assets work, their potential benefits, and the risks involved. Whether you're new to unlisted shares or looking to expand your knowledge, we cover topics such as investment strategies, valuation methods, market trends, and regulatory aspects. Stay updated with expert tips and guides to navigate the unlisted share market effectively.
