Financial Highlights

H1 FY24
 Key Highlights
• NSE’s consolidated Q2 operating revenue up by 24% YoY to Rs.3,652 crores

• NSE’s consolidated Q2 profit up by 13% YoY at Rs.1,999 crores

• NSE’s standalone Q2 operating revenue up by 22% YoY to Rs.3,386 crores

• NSE’s standalone Q2 profit up by 2% YoY at Rs.1,562 crores

• Contributed Rs.18,744 crores to the exchequer in H1 FY24 which comprised of STT

Rs.14,858 crores, Stamp duty Rs.1,156 crores, GST Rs.975 crores, Income tax Rs.1,252
crores and SEBI Rs.503 crores.

2
 Key Highlights - Markets

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

Equity Futures Equity Futures : 99.9% (100%)
Equity Futures : (6)% : (6)%
Equity Options : 99.3% (100%)
Equity Options : 32% Equity Options : 31% (Premium value)
(Premium value)
(Premium value) Currency Futures : 71% (68%)
Currency Futures : (23)% Currency Futures : (20)% Currency Options : 99% (96%)
Currency Options : (3)% Currency Options : 0.1% (Premium value)

(Premium value) (Premium value) Interest Rate Future: 94% (49%)

Interest Rate Future : (28)% Interest Rate Future : 39% Debt (RFQ Platform) : 98% (99%)
NSE Mutual Fund : 32% (32%)

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. H1 FY24 over H1 FY23

2. Figures in bracket pertain to H1 FY23 3 Source : Exchange Websites
Consolidated Financials

4
 Financial Highlights – Q2 FY24
• Total revenue : Rs.4,023 crs (P.Y Rs.3,149 crs), y-o-y increase of 28%
• Operating revenue : Rs.3,652 crs (P.Y Rs.2,937 crs), y-o-y increase of 24%
• % Operating revenue to Total revenue : 91%
• Total expenses : Rs.1,420 crs (P.Y Rs.578 crs),y-o-y increase of 145%
• Of the above, Cash expenses stood at Rs.1,313 crs (P.Y Rs.482 crs)
• Total expenses increased mainly on account of :
• Contribution to Core SGF maintained by NCL : Rs.560 crores
• Regulatory fees : Rs.137 crores
• Operating EBITDA :
• (W/o core SGF) : 79% at Rs.2,899 crs (P.Y 84% at Rs.2,455 crs)
• (With core SGF) : 64% at Rs.2,339 crs (P.Y 84% at Rs.2,455 crs)
• Share of profit of associates : Rs.26 crs (P.Y Rs.19 crs)
• Effect of discontinued operations (net of tax) : (Rs.13 crs)
• Profit after tax : 50% at Rs.1,999 crs (P.Y 56% at Rs.1,774 crs)
• Earnings per share* (FV Re.1/-) : Rs.40.38
*non annualised

5
 Financial Highlights – H1 FY24
• Total revenue : Rs.7,380 crs (P.Y Rs.5,898 crs), y-o-y increase of 25%
• Operating revenue : Rs.6,639 crs (P.Y Rs.5,579 crs), y-o-y increase of 19%
• % Operating revenue to Total revenue : 90%
• Total expenses : Rs.2,276 crs (P.Y Rs.1,122 crs), y-o-y increase of 103%
• Of the above, Cash expenses stood at Rs.2,066 crs (P.Y Rs.934 crs)
• Total expenses increased mainly on account of :
• Contribution to Core SGF maintained by NCL : Rs.611 crores
• Regulatory fees : Rs.241 crores
• Operating EBITDA :
• (W/o core SGF) : 78% at Rs.5,184 crs (P.Y 83% at Rs.4,645 crs)
• (With core SGF) : 69% at Rs.4,573 crs (P.Y 83% at Rs.4,645 crs)
• Share of profit of associates : Rs.48 crs (P.Y Rs.36 crs)
• Effect of discontinued operations (net of tax) : (Rs.51 crs)
• Profit after tax : 52% at Rs.3,843crs (P.Y 59% at Rs.3,463 crs)
• Earnings per share* (FV Re.1/-) : Rs.77.64
• Net worth Rs. 20,310 crs (as on March 31, 2023 Rs. 20,478 crs)
• Book Value per share Rs.410 (as on March 31, 2023 Rs. 414)
*non annualised

6
 NSE Consolidated – H1 FY24 – Key Ratios
7,500 90%

79% 78% 83%

9,500
80% 80%
74% 80%
8,500
75% 75% 6,500
69%
70% 66%
70%
70%
7,500 5,500
60%
61%
6,500 58% 4,500
60%

50%
5,500 50%
3,500
4,500 40%
40%
3,500 2,500
30%
30%
2,500

2,155

4,141

6,572

9,300

4,645

4,573
2,023

3,915

6,261

8,916

4,456

4,386
20%
1,500
1,500 20%

10%
500
500 10%

(500) 0%
19-20 20-21 21-22 22-23 Sep-22 Sep-23 (500)
19-20 20-21 21-22 22-23 Sep-22 Sep-23
0%

Operating Margin Operating Profit % Operting EBITDA Operating EBITDA %

10,500
82%
90%
8,000 EPS Rs.77.64 70%

78% 78% 80%

7,000 58% 59% 58% 59%
8,500 72% 70% 52%
60%

65% 70%
6,000 48% 50%

6,500 60%
5,000
40%

4,000
50%
4,500 30%
3,000
40%

20%
2,000

3,463
2,500 30%

1,885

3,573

5,199

7,356

3,842
2,525

4,465

6,912

9,914

4,811

5,152

10%
1,000
20%
500
- 0%
10%

19-20 20-21 21-22 22-23 Sep-22 Sep-23 19-20 20-21 21-22 22-23 Sep-22 Sep-23
(1,500) 0%

PBT PBT % PAT PAT %

7
Standalone Financials

8
 Financial Highlights – Q2 FY24
• Total revenue : Rs.3,677 crs (P.Y Rs.2,928 crs), y-o-y increase of 26%
• Operating revenue : Rs.3,386 crs (P.Y Rs.2,770 crs), y-o-y increase of 22%
• % Operating revenue to Total revenue : 92%
• Total expenses : Rs. 1,623 crs (P.Y Rs.691 crs),y-o-y increase of 135%
• Of the above, Cash expenses stood at Rs.1,541 crs (P.Y Rs.615 crs)
• Total expenses increased mainly on account of :
• Contribution to Core SGF maintained by NCL : Rs.560 crores
• Clearing & Settlement charges : Rs.145 crores
• Regulatory fees : Rs.137 crores
• Operating EBITDA :
• (W/o core SGF) : 71% at Rs.2,404 crs (P.Y 78% at Rs.2,155 crs)
• (With core SGF) : 54% at Rs.1,844 crs (P.Y 78% at Rs.2,155 crs)
• Profit after tax : 42% at Rs.1,562 crs (P.Y 52% at Rs.1,535 crs)
• Earnings per share * (FV Re.1/-) : Rs.31.55
*non annualised

(All figures are excluding Subsidiary Dividend)

9
 Financial Highlights – H1 FY24
• Total revenue : Rs.6,797 crs (P.Y Rs.5,486 crs), y-o-y increase of 24%
• Operating revenue : Rs.6,218 crs (P.Y Rs.5,258 crs), y-o-y increase of 18%
• % Operating revenue to Total revenue : 91%
• Total expenses : Rs.2,592 crs (P.Y Rs.1,335 crs), y-o-y increase of 94%
• Of the above, Cash expenses stood at Rs.2,432 crs (P.Y Rs.1,185 crs)
• Total expenses increased mainly on account of :
• Contribution to Core SGF maintained by NCL : Rs.611 crores
• Clearing & Settlement charges : Rs.209 crores
• Regulatory fees : Rs.241 crores
• Operating EBITDA :
• (W/o core SGF) : 71% at Rs.4,397 crs (P.Y 77% at Rs.4,073 crs)
• (With core SGF) : 61% at Rs.3,786 crs (P.Y 77% at Rs.4,073 crs)
• Profit after tax : 46% at Rs.3,160 crs (P.Y 55% at Rs.3,022 crs)
• Earnings per share * (FV Re.1/-) : Rs.63.83
*non annualised

(All figures are excluding Subsidiary Dividend)

10
 NSE Standalone – H1|FY24 – Revenue drivers

Operating Revenue Total Revenue

Operating Revenue
Rs.6,218 crs (P.Y. Rs.5,258 crs) Rs.6,797 crs (P.Y. Rs.5,486 crs)
Y-o-Y Growth : 18%
91 % of Total Revenue Y-o-Y Growth : 24%

Listing Colocation Treasury Transaction

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

Rs.103 crs Rs.414 crs Rs.613 crs

(P.Y. Rs.244 crs)
Rs.5,534 crs
(P.Y. Rs.87 crs) (P.Y. Rs.288 crs) (P.Y. Rs.4,786 crs)
Racks : Rs.66 crs (Increase by 16%
(Operating Treasury Rs.748 crs)
(P.Y.Rs.46 cr)
Income Rs.41 crs)
Connectivity : Rs.348 crs
(P.Y.Rs.242 crs)

11 (All figures are excluding Subsidiary Dividend)

 NSE Standalone – H1 FY24 –Expenditure Profile
% of Total Income Admin Premises
0.2% (0.2%) 1% (1%)
Total Expenses: Rs.2,592 crs (P.Y. Rs.1,335 crs) Tech
5% (5%)
Cash Expenses: Rs.2,432 crs (P.Y. Rs.1,185 crs)
Dep
2% (3%)
Increase by Rs.1,258 crs Regulatory
16% (3%)
C&S
8% (6%)

Others
Emp 4% (3%)
2% (3%)

% of Total Expense
Admin
1% (1%) Premises
40% Ratio of Total Expenditure to Total Income
2% (4%)
35% Tech
14% (21%)
30%

25%
Dep
6% (11%)
38% #

20%

C&S
26%

28%

27%

24%

38%

15%

20% (24%) Regulatory

10% 42% (14%)
19-20 20-21 21-22 22-23 Sep-22 Sep-23 Emp Others
6% (11%)
12 9% (14%)
 NSE Standalone – H1 FY24 – Key Ratios
8,400
8,300 80% 9,000 90%
8,200
8,100
8,000
7,900
7,800
7,700 75%
7,600
7,500
7,400
7,300 72% 71% 71% 70% 8,000 80%
7,200
7,100
7,000
6,900
6,800
6,700 75% 74% 74% 77%
6,600
6,500 7,000 70%
6,400
6,300 60%
6,200
6,100
6,000 59% 58%
5,900
5,800
5,700
5,600
5,500
5,400 6,000
63% 61% 60%
5,300
5,200 50%
5,100
5,000
4,900
4,800
4,700
4,600 5,000 50%
4,500
4,400
4,300
4,200 40%
4,100
4,000
3,900
3,800
3,700
3,600 4,000 40%
3,500
3,400
3,300
3,200 30%
3,100
3,000
2,900
2,800
2,700
2,600 3,000 30%
2,500
2,400
2,300
2,200
2,100
2,000 20%
1,900
1,800 2,000 20%
1,700
1,600

1,790

3,646

5,742

8,243

4,073

3,786
1,657

3,480

5,482

7,941

3,923

3,626
1,500
1,400
1,300
1,200
1,100
1,000 10%
900
800 1,000 10%
700
600
500
400
300
200
100
- 0% - 0%

19-20 20-21 21-22 22-23 Sep-22 Sep-23 19-20 20-21 21-22 22-23 Sep-22 Sep-23
Operating Profit - Operating Profit % Operating EBITDA Op EBITDA %
10,000
74% 73% 76% 80%
72% EPS
9,000
70% 7,000 60%

8,000
62% 62% 56% 54% 54% 55% Rs.63.83
60% 6,000
50%
7,000
46% 46%
50% 5,000
6,000 40%

5,000 40% 4,000

30%
4,000
30% 3,000

3,000 20%
20% 2,000
2,000
1,920

3,895

5,883

8,619

4,151

4,204

1,425

2,948

4,401

6,400

3,022

3,160
10%
10% 1,000
1,000

- 0% - 0%

19-20 20-21 21-22 22-23 Sep-22 Sep-23 19-20 20-21 21-22 22-23 Sep-22 Sep-23
PBT PBT % PAT PAT %
(All figures are excluding Subsidiary Dividend)
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Thank You