NSEI:BSE

Stock Analysis Report

Executive Summary

BSE Limited, together with its subsidiaries, provides a platform for trading in equity, debt instruments, derivatives, and mutual funds in India.

Snowflake

Fundamentals

Second-rate dividend payer with questionable track record.


Similar Companies

Share Price & News

How has BSE's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

6.1%

BSE

5.4%

IN Capital Markets

2.4%

IN Market


1 Year Return

-10.8%

BSE

-20.3%

IN Capital Markets

8.0%

IN Market

Return vs Industry: BSE exceeded the Indian Capital Markets industry which returned -20.3% over the past year.

Return vs Market: BSE underperformed the Indian Market which returned 8% over the past year.


Shareholder returns

BSEIndustryMarket
7 Day6.1%5.4%2.4%
30 Day1.5%-5.7%2.5%
90 Day-3.1%-11.2%3.6%
1 Year-6.3%-10.8%-19.1%-20.3%10.3%8.0%
3 Yearn/a-19.4%-22.2%22.3%16.0%
5 Yearn/a12.0%5.2%42.8%29.3%

Price Volatility Vs. Market

How volatile is BSE's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is BSE undervalued compared to its fair value and its price relative to the market?

15.5x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate BSE's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate BSE's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: BSE is poor value based on its PE Ratio (15.5x) compared to the Capital Markets industry average (13.2x).

PE vs Market: BSE is poor value based on its PE Ratio (15.5x) compared to the Indian market (13x).


Price to Earnings Growth Ratio

PEG Ratio: BSE is poor value based on its PEG Ratio (5.6x)


Price to Book Ratio

PB vs Industry: BSE is overvalued based on its PB Ratio (0.8x) compared to the IN Capital Markets industry average (0.5x).


Next Steps

Future Growth

How is BSE forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

2.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: BSE's forecast earnings growth (2.8% per year) is below the savings rate (7.6%).

Earnings vs Market: BSE's earnings (2.8% per year) are forecast to grow slower than the Indian market (18.4% per year).

High Growth Earnings: BSE's earnings are forecast to grow, but not significantly.

Revenue vs Market: BSE's revenue (5.9% per year) is forecast to grow slower than the Indian market (11.3% per year).

High Growth Revenue: BSE's revenue (5.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: BSE's Return on Equity is forecast to be low in 3 years time (7.1%).


Next Steps

Past Performance

How has BSE performed over the past 5 years?

11.9%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: BSE's earnings have grown by 11.9% per year over the past 5 years.

Accelerating Growth: BSE's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: BSE had negative earnings growth (-23%) over the past year, making it difficult to compare to the Capital Markets industry average (-17.9%).


Return on Equity

High ROE: BSE's Return on Equity (5.5%) is considered low.


Return on Assets

ROA vs Industry: BSE has a higher Return on Assets than the Capital Markets industry average last year.


Return on Capital Employed

ROCE Improving: BSE's Return on Capital Employed has declined over the past 3 years.


Next Steps

Financial Health

How is BSE's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: BSE has a low level of unsold assets or inventory.

Debt Coverage by Assets: Insufficient data to determine if BSE's debt is covered by short term assets.


Financial Institutions Analysis

Asset Level: BSE's level of assets compared to its equity is low.

Allowance for Bad Loans: Insufficient data to determine if BSE has a sufficient allowance for bad loans.

Low Risk Liabilities: BSE reports no customer deposits, loans are made up entirely of externally borrowed funds.

Loan Level: Insufficient data to determine if BSE has an acceptable proportion of non-loan assets held.

Low Risk Deposits: BSE has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: Insufficient data to determine if BSE has an appropriate level of bad loans.


Next Steps

Dividend

What is BSE's current dividend yield, its reliability and sustainability?

5.53%

Current Dividend Yield


Dividend Yield vs Market

company5.5%marketbottom25%0.6%markettop25%2.4%industryaverage2.2%forecastin3Years6.5%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: BSE's dividend (5.53%) is higher than the bottom 25% of dividend payers in the Indian market (0.6%).

High Dividend: BSE's dividend (5.53%) is in the top 25% of dividend payers in the Indian market (2.41%)

Stable Dividend: BSE has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: BSE's dividend payments have increased, but the company has only paid a dividend for 3 years.


Current Payout to Shareholders

Dividend Coverage: At its current payout ratio (85.7%), BSE's payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

What is the CEO of BSE's salary, the management and board of directors tenure and is there insider trading?

7.3yrs

Average management tenure


CEO

Ashish Kumar Chauhan (51yo)

6.9yrs

Tenure

₹66,424,806

Compensation

Mr. Ashish Kumar Manilal Chauhan has been the Managing Director and Chief Executive Officer of BSE Limited since November 2, 2012. Mr. Chauhan served as Deputy Chief Executive Officer of BSE Limited from 2 ...


CEO Compensation Analysis

Compensation vs. Market: Insufficient data to establish whether Ashish Kumar's total compensation is reasonable compared to companies of similar size in the Indian market.

Compensation vs Earnings: Ashish Kumar's compensation has been consistent with company performance over the past year.


Management Age and Tenure

7.3yrs

Average Tenure

52yo

Average Age

Experienced Management: BSE's management team is seasoned and experienced (7.3 years average tenure).


Board Age and Tenure

2.6yrs

Average Tenure

61yo

Average Age

Experienced Board: BSE's board of directors are not considered experienced ( 2.6 years average tenure), which suggests a new board.


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown


Management Team

  • Nayan Mehta (52yo)

    Chief Financial Officer

    • Tenure: 7.8yrs
    • Compensation: ₹14.47m
  • Kersi Tavadia (56yo)

    Chief Information Officer

    • Tenure: 0yrs
  • Mahendra Tawde

    General Manager of Human Resources

    • Tenure: 10.9yrs
  • Nehal Vora (46yo)

    Chief Regulatory Officer

    • Tenure: 0yrs
  • Gopalkrishnan Iyer

    Chief General Manager

    • Tenure: 0yrs
  • Ashish Kumar Chauhan (51yo)

    MD, CEO

    • Tenure: 6.9yrs
    • Compensation: ₹66.42m
  • Neeraj Kulshrestha (53yo)

    Chief Business Officer

    • Tenure: 1.8yrs
  • Ajay Thakur

    Head of BSE SME

    • Tenure: 23.8yrs
  • Prajakta Powle

    Company Secretary & Compliance Officer

    • Tenure: 3.1yrs
    • Compensation: ₹3.14m
  • Yogesh Joshi

    Head of Investor Relations

    • Tenure: 0yrs

Board Members

  • Usha Sangwan (61yo)

    Shareholder Director

    • Tenure: 4.1yrs
    • Compensation: ₹575.00k
  • Uttam Bagri (43yo)

    Member of Advisory Committee

    • Tenure: 0yrs
    • Compensation: ₹60.00k
  • Shilpa Kumar (52yo)

    Member of Advisory Committee

    • Tenure: 0yrs
  • Damodar Aggarwal (57yo)

    Member of Advisory Committee

    • Tenure: 0yrs
  • Ashish Kumar Chauhan (51yo)

    MD, CEO

    • Tenure: 6.9yrs
    • Compensation: ₹66.42m
  • Dhirendra Swarup (75yo)

    Chairman of Advisory Committee

    • Tenure: 0yrs
    • Compensation: ₹1.33m
  • Sumit Bose (64yo)

    Public Interest Director

    • Tenure: 3.4yrs
    • Compensation: ₹2.19m
  • David Wright

    Public Interest Director

    • Tenure: 1.6yrs
    • Compensation: ₹1.43m
  • Vikramajit Sen (69yo)

    Chairman of the Board

    • Tenure: 0.4yrs
    • Compensation: ₹1.40m
  • Subhash Mundra (62yo)

    Public Interest Director

    • Tenure: 1.8yrs
    • Compensation: ₹1.88m

Company Information

BSE Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: BSE Limited
  • Ticker: BSE
  • Exchange: NSEI
  • Founded: 1875
  • Industry: Financial Exchanges and Data
  • Sector: Diversified Financials
  • Market Cap: ₹28.178b
  • Shares outstanding: 51.79m
  • Website: https://www.bseindia.com

Number of Employees


Location

  • BSE Limited
  • Phiroze Jeejeebhoy Towers
  • 25th Floor
  • Mumbai
  • Maharashtra
  • 400001
  • India

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
BSENSEI (National Stock Exchange of India)YesEquity SharesININRFeb 2017

Biography

BSE Limited, together with its subsidiaries, provides a platform for trading in equity, debt instruments, derivatives, and mutual funds in India. The company operates through two segments, Stock Exchange O ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/23 12:50
End of Day Share Price2019/10/23 00:00
Earnings2019/06/30
Annual Earnings2019/03/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.