Financial Highlights

Q3 |FY 23 & 9M |FY 23

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 Key Highlights - Markets

CM : (20)% CM : (19)% CM : 93 (93)

Equity Futures : 0.4% Equity Futures : 0.4% Equity Futures : 100 (100)
Equity Options : 89% Equity Options : 89% Equity Options : 100 (100)
(Premium value) (Premium value) (Premium value)

Currency Futures : 65% Currency Futures : 63% Currency Futures : 69 (70)

Currency Options : 119% Currency Options : 122% Currency Options : 96 (95)
(Premium value) (Premium value) (Premium value)

Interest Rate Future : (15)% Interest Rate Future : 2% Interest Rate Future : 52 (43)
Debt (RFQ Platform)
CD OI Mkt Share : Fut 82% / Opt 98%
: 99 (98)

NSE NSE
Market Growth
Volume Growth Market Share (%)

NSE continues to be the world’s largest derivatives exchange for 4th consecutive year
NSE continues to be the world’s largest derivatives exchange for 2nd consecutive year

1. 9M FY23 over 9M FY22

2. Figures in bracket pertain to 9M FY22 2 Source : Exchange Websites
 NSE Standalone – Q3 FY23 v/s Q3 FY 22

Revenue Expenditure Profitability

Op. margin EBITDA

Rs.2,834 crs Rs.792 crs
(P.Y.Rs.2,115 crs)
34% (P.Y. Rs.564 crs)
40% 70% Rs.1,837 crs 75% Rs.2,118 crs
(PY 72% Rs.1,462 crs) (PY 76% Rs.1,611 crs)

Op. Revenue Op. Revenue Cash expenditure Ratio of expenses PBT PAT
Rs.2,629 crs. 93% Rs.716 crs to Revenue 72% Rs.2,042 crs 55% Rs.1,568 crs
(P.Y. Rs.2,026 crs) (P.Y. 96%) (P.Y. Rs.504 crs) 28% (PY 27%) (PY 73% Rs.1,551 crs) (PY 55% Rs.1,162 crs)

Q3 FY23 Q3 FY22 FY22

EPS (Rs.) (FV Re.1) Rs.31.68 * 23.46 * 93.36

Net worth Rs. crs. 14,863 10,042 11,548

Book Value per share Rs. 300 203 233

* Not annualised

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 NSE Standalone – Q3 FY23 v/s Q3 FY 22– Revenue & Drivers

Operating Revenue Total Revenue

Operating Revenue
Rs.2,629 crs (P.Y. Rs.2,026 crs) Rs.2,834 crs (P.Y. Rs.2,115 crs)
Y-o-Y Growth : 30%
93 % of Total Revenue Y-o-Y Growth : 34%

Listing Colocation Treasury Transaction

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

Rs.43 crs Rs.161 crs Rs.220 crs

(P.Y. Rs.93 crs)
Rs.2,367 crs
(P.Y. Rs.59 crs) (P.Y. Rs.113 crs) (P.Y. Rs.1,810 crs)
(Increase by 31%
(Operating Treasury Rs.557 crs)
Income Rs.17 crs)

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 NSE Standalone – Q3 FY23 v/s Q3 FY 22 –Expenditure Profile
% of Total Income Admin
Total Expenses: Rs.792 crs (P.Y. Rs.564 crs) Premises
Tech 0.2% (0.3%)
1% (1%)
Cash Expenses: Rs.716 crs (P.Y. Rs.504 crs) 5% (6%)
Regulatory
4% (3%)
Clearing & Settlement Charges
Increase Rs.44 crs
Dep
by SEBI regulatory Fees 3% (3%)
Rs.228 Rs.65 crs C&S Others
crs Technology
related Penalty - SEBI Depreciation
Partly setoff
License fees of reduction 6% (6%) Emp 7% (5%)
for Index in IPFT cont.
expenses Rs.100 crs Rs.16 crs 2% (3%)
Rs.25 crs Rs.14 crs (Rs.15 crs)
% of Total Expense
Admin Premises
40% Ratio of Total Expenditure to Total Income 1% (1%) 4% (4%)
35% Tech
30%
19% (23%) Regulatory
25%
16% (11%)
20%
38% #

Dep
28%
35%

26%

28%

27%

15%
10% (11%) Others
10%

C&S 22%(19%)
18-19 19-20 20-21 21-22 Q3 FY 22 Q3 FY 23
21% (21%) Emp
# Post rationalization of onetime / special items amounting to
Rs.110 crs : ratio of total expenses to total income @34% 5 8% (11%)
 NSE Standalone – 9M FY23 v/s 9M FY 22

Revenue Expenditure Profitability

Op. margin EBITDA

Rs.8,320 crs Rs.2,127 crs
(P.Y.Rs.5,551 crs)
50% (P.Y.Rs.1,509 crs)
41% 73% Rs.5,760 crs 77% Rs.6,419 crs
(PY 71% Rs.3,753 crs) (PY 76% Rs.4,206 crs)

Op. Revenue Op. Revenue Ratio of Expenses PBT PAT

Cash expenditure to Revenue
Rs.7,886 crs. 95% Rs.1,901 crs 74% Rs.6,194 crs 55% Rs.4,590 crs
26%
(P.Y. Rs.5,261 crs) (P.Y. 95%) (P.Y. Rs.1,344 crs) (PY 73% Rs.4,042 crs) (PY 54% Rs.3,023 crs)
(PY 27%)

(All figures are excluding Subsidiary Dividend – 9M FY23 Rs.833 crs / 9M FY22 Rs.80 crs)
9M FY23 9M FY22 FY22

EPS (Rs.) (FV Re.1) Rs.109.56 * 62.70 * 93.36

Net worth Rs. crs. 14,863 10,042 11,548

Book Value per share Rs. 300 203 233

* Not annualised

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 NSE Standalone – 9M FY23 v/s 9M FY 22 – Revenue & Drivers

Operating Revenue Total Revenue

Operating Revenue
Rs.7,886 crs (P.Y. Rs.5,261 crs) Rs.8,320 crs (P.Y. Rs.5,551 crs)
Y-o-Y Growth : 50%
95 % of Total Revenue Y-o-Y Growth : 50%

Listing Colocation Treasury Transaction

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

Rs.130 crs Rs.449 crs Rs.464 crs

(P.Y. Rs.310 crs)
Rs.7,152 crs
(P.Y. Rs.144 crs) (P.Y. Rs.306 crs) (P.Y. Rs.4,677 crs)
(Increase by 53%
(Operating Treasury Rs.2,476 crs)
Income Rs.39 crs)

(All figures are excluding Subsidiary Dividend – 9M FY23 Rs.833 crs / 9M FY22 Rs.80 crs

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 NSE Standalone – 9M FY23 v/s 9M FY 22 – Expenditure Profile
% of Total Income Admin
Total Expenses: Rs.2,127 crs (P.Y. Rs.1,509 crs) Premises
Tech 0.2% (0.3%)
1% (1%)
Cash Expenses: Rs.1,901 crs (P.Y. Rs.1,344 crs) 5% (6%)
Regulatory
4% (3%)
Clearing & Settlement Charges
Increase Rs.169 crs
by Dep
SEBI regulatory Fees
3% (3%) Others
Rs.618 Rs.166 crs C&S 5% (5%)
crs Technology
related Penalty - SEBI Depreciatio
Partly setoff
License fees of reduction 6% (6%) Emp
for Index in IPFT cont.
expenses Rs.100 crs n Rs.61 crs 2% (3%)
Rs.113 crs Rs.54 crs (Rs.76 crs)
% of Total Expense
Admin Premises
40% Ratio of Total Expenditure to Total Income 1% (1%) 4% (4%)
35% Tech
30% 20% (21%) Regulatory
25%
15% (10%)
20%
38% #
35%

26%

28%

27%

26%
15%
Dep
Others
10% 11% (11%)
17%(21%)
18-19 19-20 20-21 21-22 Dec-21 Dec-22 C&S
# Post rationalization of onetime / special items amounting to 22% (20%) Emp
Rs.110 crs : ratio of total expenses to total income @34%
8 10% (12%)
 NSE Standalone – 9M FY23 v/s 9M FY 22 – Key Ratios
6,100
6,000
5,900
5,800 72% 71% 71% 73% 80% 7,000 77% 75% 76% 77% 80%
5,700
5,600
5,500
5,400 75%
5,300
5,200
5,100
70%
6,000 70%
5,000
4,900
4,800
4,700
60% 59% 66% 70%
4,600
4,500 60%
4,400
4,300 5,000
4,200 65%
4,100
4,000
3,900
3,800 50%
3,700
3,600 60%
3,500
3,400 4,000
3,300
3,200
3,100
3,000 40% 55%
2,900
2,800
2,700
2,600 3,000
2,500
2,400 50%
2,300
2,200 30%
2,100
2,000
1,900
1,800 45%
1,700 2,000
1,600
1,500 20%
1,400
1,300

1,981

4,206
4,061

6,419
1,200 40%

2,053

6,143
1,465

1,657

3,480

5,482

3,753

5,760
1,100
1,000
900
800 1,000
700 10%
600
500 35%
400
300
200
100
- 0% - 30%

18-19 19-20 20-21 21-22 Dec-21 Dec-22 18-19 19-20 20-21 21-22 Dec-21 Dec-22
Operating Margin Operating Profit % EBITDA EBITDA % EPS
80%
74% 73% 74% Rs.92.73
6,000 72%
70%
5,000
56% 54% 54% 55% 60%

65% 4,500
5,000
62%
4,000 46% 50%
60% 42%
4,000 3,500
40%
3,000
50%
3,000
2,500 30%

40% 2,000
2,000
20%
1,500

3,023
1,863

1,920

3,895

5,883

4,042

6,194
1,000 30% 1,000

1,209

1,425

2,948

4,401

4,590
10%
500

- 20% - 0%

18-19 19-20 20-21 21-22 Dec-21 Dec-22 18-19 19-20 20-21 21-22 Dec-21 Dec-22
PBT PBT % PAT PAT %
(All figures are excluding Subsidiary Dividend – 9M FY23 Rs.833 crs / 9M FY22 Rs.80 crs)
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Consolidated Financials

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 NSE Consolidated – Q3 FY23 v/s Q3 FY 22 ▪ Subsidiaries – 16
▪ Associates - 9

Total Revenue up by 35% Profitability

Rs. 3,263 crs
100%
(PY Rs. 2,416 crs) EBITDA –
Rs.2,492 Crs 90%

80%

Op. income up by 30% PBT - 70%

60%
Rs.2,393 Crs
Rs. 2,992 crs. 50%

(PY Rs. 2,294 crs.) PAT – 40%

30%
Rs.1,826 Crs

56%
55%
72%
75%

76%

73%
20%

10%
EPS – EBITDA PBT PAT

Op income to total income Rs.36.90

NSE NSE Group NSE NSE Group NSE NSE Group

ratio : 92% (PY 94%) PBT PAT

EBITDA

Treasury Income :
Rs. 366 crs. (PY Rs. 190 crs)

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 NSE Consolidated – 9M FY23 v/s 9M FY 22 ▪ Subsidiaries – 16
▪ Associates - 9
100%

Total Revenue up by 48% Profitability 90%

80%
Rs. 9,451 crs 70%

(PY Rs. 6,370 crs) EBITDA – 60%

Rs.7,440 Crs 50%

40%

Op. income up by 49% PBT - 30%

58%
76%

56%
79%
77%

74%
20%
Rs.7,141 Crs
Rs. 8,854 crs. 10%
EBITDA PBT PAT
NSE NSE Group NSE NSE Group NSE NSE Group
(PY Rs. 5,961 crs.) PAT –
PBT
EBITDA PAT
Rs.5,289 Crs

EPS –
Op income to total income Rs.106.86 Rs.375
ratio : 94% (PY 94%) Rs.18,561 crs (Mar 22 : Rs.311)
(Mar 22 : Rs.15,418 crs)

Book
Treasury Income : Net Value Per
Rs. 828 crs. (PY Rs. 590 crs) worth Share
Change in Net worth Rs.in crs
Opening Rs. 15,418
Add :Profit after OCI Rs. 5,268
Less: Change in reserves Rs. (46)
Less : Dividend paid Rs. (2,079)
12 Closing Rs. 18,561
 NSE Consolidated – 9M FY23 v/s 9M FY 22 – Key Ratios
7,500 90%

6,500
73% 80%
77% 76% 76% 79% 79%
69% 69% 71% 6,500 80%

5,500 70%
5,500
69% 70%
60% 58%
4,500 60%
4,500 60%

3,500 50%
3,500 50%

2,500 2,023 40%

2,500 40%
1,813

6,458

2,718

2,706

4,691

7,251

5,009

7,440
3,909

6,161

4,241
1,500 30%
1,500 30%

500 20%
500 20%

(500) (500)
10% 10%
18-19 19-20 20-21 21-22 Dec-21 Dec-22 18-19 19-20 20-21 21-22 Dec-21 Dec-22

Operating Margin Operating Profit % EBITDA EBITDA %

EPS Rs.106.86
80%
7,000 73% 73% 73% 75% 76% 70%

6,000 65% 5,000

70%
58%
55% 57% 56% 60%

60%
5,000 4,000
49% 48% 50%

4,000 50%
3,000
40%
3,000 40%

2,000
30%
2,000 30%

3,618
2,576

2,525

4,465

6,912

4,798

1,708

1,885

3,573

5,198

5,289
7,141
1,000 20%
1,000 20%

- 10%
- 10%

18-19 19-20 20-21 21-22 Dec-21 Dec-22 18-19 19-20 20-21 21-22 Dec-21 Dec-22
PBT PBT % PAT PAT %

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Thank You

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