Financial Highlights

Q4 |FY 22-23
 Key Highlights

• NSE’s standalone Q4 operating revenue up by 32% YoY to Rs 3,295 crores

• NSE’s standalone Q4 profit up by 19% YoY at Rs 1,810 crores, operating EBITDA margin at
69%

• Contributed Rs 28,989 crores to the exchequer of which STT comprised of Rs 21,965

crores, Stamp duty Rs 1,987 crores, GST Rs 1,655 crores, income tax Rs 2,687 crores and
SEBI fees Rs 695 crores.

• NSE’s Board recommended a dividend of Rs 80 per share for the year ending FY23
amounting to a pay-out of Rs 3,960 crores.

2
• •

• •

• •

• •

• •
• •

• •
• •

• •
•
• •

3
(All figures are excluding Subsidiary Dividend)
 Financial Highlights –FY2022-23
Standalone
• Total revenue : Rs.11,859 crs (P.Y Rs.8,164 crs), y-o-y increase of 45%
• Operating revenue : Rs.11,181 crs (P.Y Rs.7,763 crs), y-o-y increase of
44%
– % Operating revenue to Total revenue : 94%
• Total expenses : Rs. 3,240 crs (P.Y Rs.2,281 crs),y-o-y increase of 42%
– Of the above, Cash expenses stood at Rs.2,938 crs (P.Y Rs.2,021 crs)
– Total expenses includes Rs.203 crores towards contribution to Core
SGF maintained by NCL
• Operating EBITDA : Rs.8,243 crs (P.Y Rs.5,742crs)
– Operating EBITDA margin (%): 74% (P.Y 74%)
• Profit after tax : 54% at Rs.6,400 crs (P.Y 54% at Rs.4,401 crs)
• Earning per share (FV Re.1/-) : Rs.146.12
• Operating revenue : Rs.11,856 crs (P.Y Rs.8,313 crs), y-o-y increase of
43%
– % Operating revenue to Total revenue : 93%
• Total expenses : Rs. 2,812 crs (P.Y Rs.2,018 crs),y-o-y increase of 39%
– Of the above, Cash expenses stood at Rs.2,428 crs (P.Y Rs.1,708 crs)
– Total expenses includes Rs.203 crores towards contribution to Core SGF maintained by
NCL
• Operating EBITDA : Rs.9,300 crs (P.Y Rs.6,572 crs)
– Operating EBITDA margin (%): 78% (P.Y 79%)
• Share of profit of associates : Rs.88.50 crs (P.Y Rs.90.28 crs)
• Effect of discontinued operations (incl.tax) : (Rs.142.31 crs)
• Profit after tax : 58% at Rs.7,356 crs (P.Y 58% at Rs.5,198 crs)
• Earning per share (FV Re.1/-) : Rs.148.58

Consolidated
• Total revenue : Rs.12,765 crs (P.Y Rs.8,874 crs), y-o-y increase of 44%

• Total Contribution to exchequer / SEBI (FY23) : Rs.28,989 crs • Total contribution to exchequer/SEBI (past 5 years): Rs 98,268 crs
• STT : Rs.21,965 crs • STT: Rs 80,817 crs
• Income Tax : Rs 2,687 crs • Income tax: Rs 6574 crs
• Stamp duty : Rs. 1,987 crs • Stam Duty: Rs 5298 crs
• GST : Rs. 1,655 crs • GST: Rs 4121 crs
• SEBI fees : Rs. 695 crs • SEBI fees: Rs 1457 crs
4 (All figures are excluding Subsidiary Dividend)
 Key Highlights - Markets

CM : (20)% CM : (20)% CM : 93% (93%)

Equity Futures : (3)% Equity Futures : (3)% Equity Futures : 100% (100%)
: 73% Equity Options : 73% Equity Options* : 100% (100%)
Equity Options
(Premium value) (Premium value) Currency Futures : 68% (70%)
Currency Futures : 47% Currency Futures : 43% Currency Options* : 97% (95%)
CD OI : Fut 82% / Opt 98%
Currency Options : 88% Currency Options : 90%
(Premium value) (Premium value)
Interest Rate Future: 52% (38%)
Interest Rate Future : (1)% Debt (RFQ Platform) : 99% (98%)
Interest Rate Future : (29)%
NSE Mutual Fund : 32%(32%)
* (Premium value)

NSE NSE
Market Growth
Volume Growth Market Share

NSEcontinues
NSE continuesto
tobe
bethe
theworld’s
world’slargest
largestderivatives
derivativesexchange
exchangefor 4th consecutive
for2nd consecutive year
year

1. FY23 over FY22

5 Source : Exchange Websites
2. Figures in bracket pertain to FY22
Standalone Financials

6
 NSE Standalone – Q4 |FY23

Revenue Expenditure Profitability

Op. margin Op. EBITDA

Rs.3,539 crs Rs.1,113 crs
(P.Y.Rs.2,613 crs)
35% (P.Y. Rs.772 crs)
44% 66% Rs.2,182 crs 69% Rs.2,258 crs
(PY 69% Rs.1,729 crs) (PY 73% Rs.1,824crs)

Cash expenditure Ratio of expenses to

Op. Revenue Op. Revenue Revenue
PBT PAT
Rs.3, 295 crs. 93% Rs.1,037 crs (P.Y. 69% Rs.2,425 crs 51% Rs.1,810 crs
31%
(P.Y. Rs.2,501 crs) (P.Y. 96%) Rs.677 crs) (PY 76% Rs.1,841 crs) (PY 53% Rs.1,377 crs)
(PY 30%)

Q4 FY23 Q4 FY22 FY22

EPS (Rs.) (FV Re.1) 36.56* 27.82* 93.36

Net worth Rs. crs. 16,676 11,548 11,548

Book Value per share Rs. 337 233 233

* Not annualised

7
(All figures are excluding Subsidiary Dividend)
 NSE Standalone – Q4|FY23 – Revenue drivers

Operating Revenue Operating Revenue Total Revenue

Rs.3,295 crs (P.Y. Rs.2,501 crs) Rs.3,539 crs (P.Y. Rs.2,613 crs)
93 % of Total Revenue
Y-o-Y Growth : 32% Y-o-Y Growth : 35%

Listing Colocation Treasury Transaction

Services charges Income Charges
(Listing, Book building &
Processing fees)

Rs.50 crs Rs.165 crs Rs.249 crs

(P.Y. Rs.113 crs)
Rs.3,021 crs
(P.Y. Rs.40 crs) (P.Y. Rs.126 crs) (P.Y. Rs.2,289 crs)
(Increase by 32%
Racks : Rs.16 crs (Operating Treasury
Rs.732 crs)
Connectivity : Rs.149 crs Income Rs.20 crs)

8 (All figures are excluding Subsidiary Dividend)

 NSE Standalone Q4 |FY23 –Expenditure Profile
% of Total Income Admin, 0.2%
Premises, 1%
Tech, 5%
Regulatory, 4%
Total Expenses: Rs.1,113 crs (P.Y. Rs.772 crs)
Cash Expenses: Rs.1,037 crs (P.Y. Rs.677 crs) Dep, 2%

Increase by Rs.341 crs

C&S, 6%
Others, 11%

Emp, 2%
% of Total Expense
Admin Premises
1% 3%
40% Ratio of Total Expenditure to Total Income Tech
Regulatory
16%
35% 12%

30%

Dep
25%
7%

20%
31%*
36%

35%

38%

26%

28%

30%

15%

10%
C&S
17-18 18-19 19-20 20-21 21-22 Q4 FY 22 Q4 FY 23 18% Others
36%
9 * Rationlised for Cont. to Core SGF Rs.203 crs : 26%
(All figures are excludingEmSpubsidiary Dividend)
7%
 NSE Standalone – FY23

Revenue Expenditure Profitability

Op. margin Op. EBITDA

Rs.11,859 crs Rs.3,240 crs
(P.Y.Rs.8,164 crs)
45% (P.Y.Rs.2,281 crs)
42% 71% Rs.7,941 crs 74% Rs.8,243 crs
(PY 71% Rs.5,482 crs) (PY 74% Rs.5,742crs)

Op. Revenue Op. Revenue Ratio of Expenses PBT PAT

Cash expenditure to Revenue
Rs.11,181 crs. 94% Rs.2,938 crs 73% Rs.8,619 crs 54% Rs.6,400 crs
27%
(P.Y. Rs.7,763 crs) (P.Y. 95%) (P.Y. Rs.2,021 crs)
(PY 28%) (PY 72% Rs.5,883 crs) (PY 54% Rs.4,401 crs)

(All figures are excluding Subsidiary Dividend – FY23 Rs.833 crs / FY22 Rs.221 crs)
FY23 FY22

EPS (Rs.) (FV Re.1) Rs.146.12 93.36

Net worth Rs. crs. 16,676 11,548

Book Value per share Rs. 337 233

10
 NSE Standalone – FY23 – Revenue & Drivers

Operating Revenue Total Revenue

Operating Revenue
Rs.11,181 crs (P.Y. Rs.7,763 crs) Rs.11,859 crs (P.Y. Rs.8,164 crs)
Y-o-Y Growth : 44%
94 % of Total Revenue Y-o-Y Growth : 45%

Listing Colocation Treasury Transaction

Services charges Income Charges
(Listing, Book building &
Processing fees)

Rs.180 crs Rs.613 crs Rs.714 crs

(P.Y. Rs.423 crs)
Rs.10,173 crs
(P.Y. Rs.184 crs) (P.Y. Rs.433 crs) (P.Y. Rs.6,965 crs)
(Increase by 46%
(Operating Treasury Rs.3,208 crs)
Income Rs.59 crs)

(All figures are excluding Subsidiary Dividend – FY23 Rs.833 crs / FY22 Rs.221 crs
11
 NSE Standalone – FY23 –Expenditure Profile
% of Total Income
Admin Premises
0.2% (0.3%) 1% (1%)
Tech
5% (6%)
Total Expenses: Rs.3,240 crs (P.Y. Rs.2,281 crs)
Regulatory
Cash Expenses: Rs.2,938 crs (P.Y. Rs.2,021 crs) 4% (3%)

Increase by Rs.959 crs Dep

3% (3%)

C&S Others
6% (6%) Emp 7% (6%)
2% (3%)

% of Total Expense
Admin
40% Ratio of Total Expenditure to Total Income 1% (1%) Premises
3% (4%)
35%
Tech
19% (20%)
30% Regulatory
14% (10%)
25%

20%

Dep
38%
35%

26%

28%

27%

15% 9% (11%)

10%
Others
18-19 19-20 20-21 21-22 22-23 C&S 24%(22%)
21% (20%) Emp
12 9% (12%)
 NSE Standalone – FY23 – Key Ratios
72% 71% 75% 74% 74% 80%
71%
60% 65% 63%
70%
59%
60%

50%

40%

30%

1,583

1,790

3,646

5,742

8,243
1,465

1,657

3,480

5,482

7,941
20%

10%

18-19 19-20 20-21 21-22 22-23 18-19 19-20 20-21 21-22 22-23
Operating Profit - Operating Profit % Operating EBITDA Op EBITDA % EPS
74% 72% 73% Rs.129.29
65%
56% 54% 54%
62%
46%
42%
1,863

1,920

3,895

5,883

8,619

1,209

1,425

2,948

4,401

6,400
18-19 19-20 20-21 21-22 22-23 18-19 19-20 21-22 22-23
PBT PBT %
(All figures are excluding Subsidiary Dividend) 13
Consolidated Financials

14
 NSE Consolidated – Q4|FY23  Subsidiaries – 16
 Associates - 9

Total Revenue up by 35% Profitability

Rs. 3,765 crs
(PY Rs. 2,792 crs) Op EBITDA –
Rs.2,558 Crs

Op. income up by 31% PBT -

Rs.2,773 Crs
Rs. 3,453 crs.
(PY Rs. 2,635 crs.) PAT –
Rs.2,067 Crs

69%
74%

69%
74%

51%
55%
EPS –
NSE NSE Group
Op income to total income Rs.41.73
NSE NSE Group NSE NSE Group

ratio : 92% (PY 94%) EBITDA PBT PAT

Treasury Income :
Rs. 377 crs. (PY Rs. 205 crs)

15
 NSE Consolidated – FY23  Subsidiaries – 16
 Associates - 9

Total Revenue up by 44% Profitability

Rs. 12,765 crs
(PY Rs. 8,874 crs) Op EBITDA –
Rs.9,300 Crs

Op. income up by 43% PBT -

78%

58%
78%

54%
73%
74%
Rs.9,914 Crs
Rs. 11,856 crs.
NSE NSE Group NSE NSE Group NSE NSE Group
(PY Rs. 8,313 crs.) PAT –
PBT
EBITDA PAT
Rs.7,356Crs

EPS –
Op income to total income Rs.148.58 Rs.414
ratio : 93% (PY 94%) Rs.20,478 crs (Mar 22 : Rs.311)
(Mar 22 : Rs.15,410 crs)

Book
Treasury Income : Net Value Per
Rs. 1,204 crs. (PY Rs. 794 crs) worth Share

16
 NSE Consolidated – FY23 – Key Ratios
75% 75% 79% 78%
70% 74%
60% 65% 61%
58%

1,955

2,155

4,141

6,572

9,300
1,813

2,023

3,915

6,261

8,916
18-19 19-20 20-21 21-22 22-23 18-19 19-20 20-21 21-22 22-23

Operating Margin Operating Profit % Operting EBITDA Operating EBITDA %

EPS Rs.148.60
78% 78%
73% 72% 58% 59% 58%
65%
49% 48%

7,356
2,576

2,525

4,465

6,912

9,914

1,708

1,885

3,573

5,199
18-19 19-20 20-21 21-22 22-23 18-19 19-20 20-21 21-22 22-23
PBT PBT % PAT PAT %
17
Dividend Pay-out

80
8000%

42
4200%

24.75
20.8 2475%
20.2
17.25 2080%
14.75 1725%

202% 148%
FY17 FY18 FY19 FY20 FY21 FY22 FY23
Dividend Per Share Dividend %

18
Thank You

19