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By Ventura Research Team 2 min Read
BSE share price rally after strong Q3 FY26 results and 4500 percent 5-year return performance
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BSE share price traded lower on Friday at ₹3,046.90, declining 3.06% after a sharp rally in recent months. The counter has delivered strong gains across timeframes, rising about 5.21% in the last one week and over 7.5% in the past one month. Over a six-month period, the stock is up nearly 22.09%, while on a one-year basis it has surged 73.98%.

The long-term performance has been even more extraordinary. Over the last five years, BSE shares have generated a staggering return of 4,504.77%, making it one of the biggest wealth creators in India’s capital market space and drawing investor attention to whether upside potential still remains after such a steep run-up.

BSE Q3FY26 Earnings Support the Rally

BSE’s consolidated results for Q3 FY26 highlight impressive growth across multiple metrics. The total consolidated income for the quarter reached ₹1,334 crore, up from ₹829.4 crore in the corresponding quarter of FY25. Consolidated net profit surged to ₹596.6 crore, a jump of 173% compared to ₹218.6 crore a year earlier. Operating EBITDA, including Core SGF, stood at ₹732.2 crore, translating into a healthy operating margin of 59%. The consolidated net profit margin was 45% for continuing operations.

The growth in revenue was driven by diversified business segments. Transaction charges remained the largest contributor at ₹952.6 crore, rising from ₹511.1 crore in Q3 FY25. Services to corporates contributed ₹156.4 crore, while treasury income from clearing and settlement funds amounted to ₹42.9 crore. Investment income from deposits and other investments grew to ₹83.9 crore, and other operating income accounted for ₹92.2 crore.

For the nine months ending December 31, 2025, BSE reported total consolidated revenue of ₹3,517.9 crore and net profit of ₹1,691.8 crore. Consolidated EBITDA for this period aggregated ₹2,285.4 crore, while consolidated net worth rose to ₹5,863.1 crore.

BSE Operational Highlights

BSE’s operational performance continued to demonstrate market dominance and wide reach. The BSE StAR MF mutual fund platform processed 60.09 crore (600.9 million) orders during the nine months, with a total order value of ₹821 lakh crore (₹821 trillion). In the equity derivatives segment, premium average daily turnover (ADTV) reached ₹19,459.1 crore for the quarter.

The number of registered investors on the exchange grew to 23.8 crore (238 million), while the total market capitalisation of BSE-listed companies touched USD 5.30 trillion. During Q3 FY26, the exchange witnessed 99 new equity listings across its mainboard and SME platforms, collectively raising ₹97,657 crore.

BSE Standalone Performance

On a standalone basis, BSE continued its strong performance. Total income for Q3 FY26 stood at ₹1,230.3 crore, while standalone net profit after tax was ₹552.3 crore, up from ₹260.2 crore in the same quarter last year. Operating EBITDA reached ₹698.2 crore, with a margin of 61%.

BSE has maintained a consistent history of high dividend payouts, with total dividends for FY26, including DDT, amounting to ₹315.8 crore. As of December 2025, Life Insurance Corporation of India (LIC) remains the top shareholder with a 5.58% stake.

Key Drivers of Growth

The sharp rise in profit to ₹601.81 crore, a 174% YoY increase from ₹220 crore, was driven by several factors. Revenue from equity derivatives surged, with average daily notional turnover in options reaching ₹210 lakh crore, up from ₹105 lakh crore in Q3 FY25. Transaction charges grew to ₹952 crore from ₹511 crore, and revenue from corporate services increased to ₹156 crore from ₹150 crore a year ago.

BSE StAR MF transactions rose 21% YoY to 21.7 crore orders, granting the exchange an 87.4% market share in mutual fund processing. Strong equity derivatives activity and new listings contributed significantly to revenue.

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