BSE financial results for the quarter ended September. BSE Ltd. (BSE), Asia’s oldest and first universal exchange and World’s fastest exchange with a speed of 6 microseconds, announced its unaudited consolidated and standalone financial results for the quarter ended September 30, 2021.
Quarterly Consolidated Financial Results at a Glance
BSE platforms have remained preferred choice by Indian companies to raise capital. For debt capital, BSE BOND platform enabled issuers to raise Rs 5,14,030 crores through issue of bonds, commercial papers, municipal bonds InViTs etc. during September 2021 quarter. Further, equity issuances through public offerings, SME issuances, Start Ups, preferential issues, rights, QIPs etc. through BSE platforms was Rs 60,988 crores during September 2021 quarter.
The total number of investors registered with BSE have been consistently growing and currently they stand at over 8.58 crores and continuing to move up.
BSE’s average daily turnover in the Equity segment increased by 53% to Rs 5,622 crores during September 2021 quarter from Rs 3,685 crores during September 2020 quarter. The same is also reflected in the Company’s strong operational performance in the current period. BSE’s market share in the Equity segment increased from 5.9% during the September 2020 quarter to 8% during September 2021 quarter.
Equity Derivatives Segment
BSE’s average daily turnover in the Equity Derivatives segment increased by 227% to Rs 2,56,214 crores during September 2021 quarter from Rs 78,442 crores during September 2020 quarter. BSE’s market share in the Equity Derivatives segment increased from 3.8 % during September 2020 quarter to 4.1 % during September 2021 quarter.
Commodity Derivatives Segment
BSE is India’s second largest Commodity Derivatives Exchange in India and offers a wide gamut of products across agri and non-agri segments. The average daily turnover in our Commodity Derivatives Segment for the quarter ended 30th September 2021 increased by 4.8 % to Rs 3,222 crore from Rs. 3,074 crore in the quarter ended 30th September 2020. BSE’s market share in Commodity Derivatives segment increased to 8.7% for the quarter ended 30th September 2021 from 7.1 % for the quarter ended 30th September 2020. BSE is now the largest exchange in India to trade Gold Mini Contracts and enjoys a market share of 77%. Amid this pandemic, BSE has launched many innovative contracts like SUFI Steel, Cotton J34 etc. BSE has witnessed successful deliveries in Gold mini contract since the period of pandemic including India Good Delivery. SUFI Steel contract has witnessed delivery of 180 MT whereas Almonds has witnessed a delivery of 228 MT.
Currency Derivatives Segment
BSE’s average daily turnover in the Currency Derivatives segment increased by 22% to Rs 24,378 crores during September 2021 quarter from Rs 19,976 crores during September 2020 quarter.
BSE’s steady resolve to support the SME’s and Startup’s in India has seen it listing 353 companies in its SME Platform and 12 companies in Startup Platform till date. During the September 2021 quarter, BSE listed 8 companies on its SME Platform and 1 company on its Startup Platform.
As on 30th September 2021, 348 companies listed on BSE’s SME Platform have raised funds amounting to Rs 3,703 crores and 11 companies listed on BSE’s Startup Platform have raised Rs 39 crores. The market capitalization of companies listed on BSE’s SME Platform was Rs 36,934 crores as on 30th September 2021. BSE’s market share in listing of companies in SME segment stood strong at 61% as on 30th September 2021.
Mutual Fund – StAR MF Platform
BSE StAR MF, India’s largest Mutual Funds Distribution platform continues to grow at a scorching pace. The total number of transactions on BSE StAR MF grew by 99% to 4.26 crores transactions during September 2021 quarter from 2.14 crores transactions during September 2020 quarter.
BSE StAR MF platform is the platform of choice for investment in Mutual Funds by investors. It continues to witness consistent net equity inflow over the industry’s net equity inflow. BSE StAR MF platform recorded a net equity inflow of Rs 21,524 crores as compared to industry’s net equity inflow of Rs 39,928 crores during the September 2021 quarter. BSE StAR MF Platform stands as single largest mutual fund platform which has been able to provide net positive equity inflow to mutual funds even during times when the entire industry was facing net equity outflow. Even during the month of October 2021, StAR MF platform outshone the industry net equity inflow by contributing Rs 7,914 crores as compared to industry’s net equity inflow of Rs 5,215 crores.
BSE StAR MF platform continues to scale new peaks of transactions in a single day with ever increasing growth of orders on its platform. BSE StAR MF recorded 26.52 lakh transactions in a single day on 8th November 2021 surpassing the previous best record of 24.08 lakh on 13th September 2021.
The BSE StAR MF app, launched in May 2019, to help Mutual Fund Distributors register clients on real-time basis and execute paperless transactions, has been well received by the investment community and has processed over 38 lakh transactions till date.
India International Exchange at IFSC
BSE promoted international exchange at Gift City, Gandhinagar, India INX has been growing exponentially ever since it commenced trading activities on 16th January 2017. Average daily trading turnover on India INX during the September 2021 quarter increased by 278 % to USD 11.67 billion as compared to USD 3.09 billion during September 2020 quarter.
India INX continues to be the dominant IFSC exchange in GIFT city with the market share of 84 % in derivatives trading and 92 % in bond listing during the quarter ended 30th September 2021.
Owing to investments by certain strategic and financial investors, BSE’s stake in India INX has reduced to 77.55% and BSE’s stake in India International Clearing Corporation, which is BSE promoted international clearing corporation at Gift City, Gandhinagar, has reduced to 69.28% as at 30th September 2021.
BSE Ebix Insurance Broking Private Limited, a joint venture of BSE and Ebix Fincorp Exchange Pte Ltd., is registered with Insurance Regulatory and Development Authority of India (IRDAI) as Direct (Life and General) Insurance Broker. Currently its electronic insurance broking platform is integrated with 7 General Insurance companies, 5 Health Insurance companies and 3 Life insurance companies. Further, pending integration, portal of Insurance companies is being used for certain insurance companies to facilitate intermediation of policies.
BSE Ebix has over 4,400 active Certified Point of Sales as at September 30, 2021. The gross premium collected during September 2021 quarter rose by 2.11 times to Rs 5.22 crores as compared to Rs 2.47 crores during September 2020 quarter. BSE Ebix has intermediated 1,740 policies during the quarter ended 30th September 2021.
BSE holds equity stake of 40% through its subsidiary BSE Investments Limited.
BSE E-Agricultural Markets
BSE E-Agricultural Markets Ltd. (“BEAM’), a JV between BSE Investments and Frontier Agriculture Platforms Private Limited, operates a nationwide, electronic, institutionalized, transparent commodity spot trading platform to facilitate spot agricultural commodities transactions across value chain consisting of producers, intermediaries, ancillary services and consumers. It has already enrolled 690 members including 442 farmers, 238 traders and 10 FPO members. Trades worth Rs 75.68 crores in 3 agricultural commodities were executed on the platform during the quarter ended 30th September 2021. The company is working closely with the Government and Government Enterprises to enhance the efficiency of procurement and sales of the commodities. Considering the market and opportunities, this platform is expected to grow at a faster pace in time to come in both agricultural and non-agricultural segments. The company received regulatory approval for enabling spot trading of non-agricultural commodities as well.
Central Electricity Regulatory Commission (CERC) has granted registration on 12th May 2021 to Pranurja Solutions Ltd. to establish and operate a power exchange. In order to brand itself as a power exchange, the Company is in the process of changing its name to Hindustan Power Exchange Ltd. The Company proposes to commence live operations in the last quarter of financial year 2021-22. BSE has a stake of 22.61% in the proposed power exchange through its wholly owned subsidiary, BSE Investments Limited.