BSE Limited — Investor Presentation 2021

Aug 26, 2021

BSE - PUBLIC

Date: August 26, 2021

To,

Listing Department

National Stock Exchange of India Limited

Exchange Plaza, 5th Floor, Plot No. C/1 G Block, Bandra-Kurla Complex, Bandra (E) Mumbai – 400 051

Symbol: BSE

ISIN: INE118H01025

Sub: Updated Investor Presentation Q1 FY22 – August 2021

Dear Sir/Madam,

With reference to above captioned subject, please find attached herewith updated Investor presentation for Q1 FY22 for the month of August 2021.

The same will also be available on the website of the Company at www.bseindia.com.

This is for your information and record.

Thanking you, Yours faithfully, For BSE Ltd

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Prajakta Powle Company Secretary and Compliance Officer Encl: a/a

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BSE - CONFIDENTIAL

BSE Limited

Investor Presentation – August 2021 Updated

Disclaimer

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• This presentation and the discussion may contain certain words or phrases that are forward looking statements, which are tentative, based on current expectations of the management of BSE Limited or any of its subsidiaries and associate companies (“BSE”). Actual results may vary significantly from the forward-looking statements contained in this presentations due to various risks and uncertainties. These risks and uncertainties include competitive landscape, stakeholders' preferences, effect of economic and political conditions in India and outside India, volatility in interest rates and in the securities market, new regulations and Government policies that may impact the businesses of BSE as well as the ability to implement its strategy.

The information contained herein is as of the date referenced and BSE does not undertake any obligation to update these statements. BSE has obtained all market data and other information from sources believed to be reliable or are its internal estimates, although its accuracy or completeness cannot be guaranteed. Competition numbers are based on published results and management analysis. For purpose of comparison, following stock exchanges are considered – National Stock Exchange of India Limited, Metropolitan Stock Exchange of India Limited, NSE IFSC Limited and MF Utilities India Pvt Ltd. The presentation relating to financial performance herein is reclassified/regrouped based on Management estimates and may not directly correspond to published data. The numbers have also been rounded off in the interest of easier understanding. Prior period figures have been regrouped/reclassified wherever necessary. All information in this presentation has been prepared solely by the company and has not been independently verified by anyone else.

This presentation is for information purposes only and does not constitute an offer or recommendation to buy or sell any securities of BSE. Any action taken by you on the basis of the information contained herein is your responsibility alone and BSE or its directors or employees will not be liable in any manner for the consequences of such action taken by you.

The distribution of this document in certain jurisdictions may be restricted by law and persons into whose possession this presentation comes should inform themselves about, and observe, any such restrictions.

2

Index

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About BSE
1.
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2. Business
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3. Key Growth Drivers & Other Initiatives
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4. Financial Highlights & Investor Information
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3

About BSE – Board & Management Team

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Board Of Directors

		Board Of Directors	Board Of Directors
		Name		Bio			Name				Bio
			Justice Vikramajit Sen Chairman and Public Interest Director On BSE Board since 2016		❖Former Judge, Supreme Court of India ❖Chairperson of the Broadcasting Content Complaints Council (BCCC)
								Shri Ashishkumar Chauhan Managing Director & CEO On BSE Board since 2012			❖Previously, Group Chief Information Officer, Reliance Industries Limited ❖Chairperson of the Board of Governors of National Institute of Technology, Manipur
								Shri S. S. Mundra Public Interest Director On BSE Board since 2018			❖Former Deputy Governor, Reserve Bank of India ❖Former Chairman & Managing Director of Bank of Baroda
			Shri Sumit Bose Public Interest Director On BSE Board since 2016		❖Joined the Indian Administrative Service in 1976 and allotted to the Madhya Pradesh Cadre. ❖Chairman, Expert Committee on working of Cantonment Boards set up by Ministry of Defence in January 2018 (work underway)
					~~❖F Gl St f IOSCO (2012-2016)~~				Shri Umakant Jayaram Public Interest Director On BSE Board since 2019	❖28 years Cross functional experience in Global Investment Banking, Finance Planning & Analysis, Risk Consulting / Business transformation
			Shri David Wright Public Interest Director On BSE Board since 2018		~~ormer enera ecreary o ,~~ former Deputy Director-General for Securities and Financial Markets at the EU Commission. ❖From March 2000 – October 2010 he was first Director, then Deputy Director-General for securities and financial markets
							4 Shri T. C. Suseel Kumar Shareholder Director On BSE Board since 2020 ❖Managing Director of Life Insurance Corporation of India since March 2019 ❖Played a key role in redefining the business proposition of the Corporation that earned the LIC ‘Best Life Insurer Award’ by many leading agencies during the year 19-20		Shri T. C. Suseel Kumar Shareholder Director On BSE Board since 2020		❖Managing Director of Life Insurance Corporation of India since March 2019 ❖Played a key role in redefining the business proposition of the Corporation that earned the LIC ‘Best Life Insurer Award’ by many leading agencies during the year 19-20
			Sushri Jayshree Vyas Public Interest Director On BSE Board since 2019		❖Former Managing Director, Shree Mahila Sewa Sahakari Bank, Ahmedabad ❖In the year 2001, financial literacy programme was introduced in Sewa Bank, first of its kind in India –at initiative of Ms. Jayshree Vyas

About BSE – Board & Management Team

Mana ement Team g

Name

Bio

◼B Tech in Mechanical Engineering from IIT Bombay and a PGDM from IIM Kolkata Shri Ashishkumar ◼He is one of the founders of India's National Stock Chauhan Managing Director & Exchange (“NSE”) where he worked from 1992 to 2000. He CEO is best known as the father of modern financial derivatives in India due to his work at NSE With BSE since 2009 ◼Represents BSE as the Chairman on the Executive Board of the South Asian Federation of Exchanges ◼Previously, Group Chief information officer, Reliance Group

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◼Prior to joining BSE, employed with Log-in Utility and Shri Kersi Tavadia InvestSmartFinancial Services Limited Chief Information ◼31 years of experience in the area of Application Officer Systems/ IT Infrastructure development and With BSE since 2010 management, managing all aspects of IT operations in Financial Services, Capital markets and manufacturing companies. He has played a leading role in transforming BSE into the fastest exchange in the country

◼He is instrumental in setting up and responsible for Business Development of INDIA INX at GIFT CITY IFSC Shri Sameer Patil ◼He has about 22 years' of experience in financial sectors He has about 22 years' of experience in financial sectors Chief Business Officer

◼He has about 22 years' of experience in financial sectors He has about 22 years' of experience in financial sectors like Commodities, Currency Derivatives, Indices etc and has experience in Trading, Hedging Strategies, Product Designing and Business Development

With BSE since 2015

Name

Shri Nayan Mehta Chief Financial Officer With BSE since 2012

Shri Neeraj Kulshrestha Chief Regulatory Officer

With BSE since 2015

Shri Girish Joshi Chief Trading Operations and Listing Sales

With BSE since 2010

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Bio

• ◼Having experience of over 29 years, he has earlier worked at Credit Analysis & Research Ltd. as Joint General Manager (Accounts), as CFO at Multi Commodity Exchange of India Limited. He has also worked at the National Stock Exchange (“NSE”)

• ◼He represents BSE on the Boards of group and associate companies of BSE

• ◼Prior to BSE he was an Executive Director in Morgan Stanley India for 10 years. He was earlier with National Stock Exchange and has managed various functions like Trading Operations, Inspection and Investigation, Futures and Options Clearing and Trading. He was also the CEO of India Index Services Ltd. and Dotex

International Ltd

• ◼28 year experience in Capital markets, which includes Securities Markets and General Insurance

◼He has worked with ICICI Bank Group for 10 years. At ICICI Bank Group he worked in various areas like ICICIDirect.com, Treasury Mid Office and in the area of Regulatory Reporting and Monitoring at CFO office of the Bank

◼He was also one of the earliest core team members who were involved in the set-up of National Stock Exchange (“NSE”). During 7 years at NSE he worked in Wholesale Debt Market and post trade functions

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About BSE Business – Overview

Diversified Lines of Business

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Trading & Distribution Clearing Services to Others Corporates

6

Index

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About BSE
1.
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2. Business

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3. Key Growth Drivers & Other Initiatives
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4. Financial Highlights & Investor Information
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7

Business – Segment Update

Equity Cash - Performance

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	Equity Cash - Performance
	40,252 44,023 31,274 26,757 41,971 37,235 56,611 FY16-17 FY17-18 FY18-19 FY19-20 FY20-21 Q1 FY21 Q1 FY22 Average Daily Turnover (₹ million)			558 599 458 467 616 124 232 616 842 351 211 390 44 239 1,174 1,442 809 678 1,006 168 471 Transaction Charges Income (₹ million)
				FY16-17 FY17-18 FY18-19 FY19-20 FY20-21 Q1 FY21 Q1 FY22 Normal Rate Special Rate

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Transaction charges revised upwards with effect from March 1, 2021
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8

Business – Segment Update

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Equity Derivatives - Performance

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Last 6 month performance
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Average Daily Turnover (₹ million) Average Daily Turnover (₹ million)
3,145,745
2,784,050 3,177,901 3,239,822
2,918,586 2,958,336 3,032,449
2,466,515
2,011,621
784,424
39,147
Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21
Q1FY21 Q2FY21 Q3FY21 Q4FY21 Q1FY22
Average Daily Number of Contracts Traded Average Daily Number of Contracts Traded
2,676,369
2,372,670
2,101,596 2,527,740 2,460,289 2,593,552 2,750,550 2,680,455
2,125,601
884,160
46,086
Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21
Q1FY21 Q2FY21 Q3FY21 Q4FY21 Q1FY22
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9

Business – Segment Update

Currency Derivatives – Performance

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Average Daily Turnover (₹ million)
CAGR (2017-2021)
12%  303,958
275,032
235,588
209,133
171,459 183,252
182,891
157,628
131,060 136,859
124,223
100,932 104,052
56,356
132,500 117,404
74,704 81,959 84,910 79,199 98,729
FY16-17 FY17-18 FY18-19 FY19-20 FY20-21 Q1 FY21 Q1 FY22
Currency Futures Currency Options
Transaction Charges Income (₹ million)
CAGR (2017-2021)
6% 
82
75
68
56
45
13 14
FY16-17 FY17-18 FY18-19 FY19-20 FY20-21 Q1 FY21 Q1 FY22
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Average Daily Number of Contracts Traded (million)

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CAGR (2017-2021)
4.35
10% 
3.89
3.20
2.85 2.46 2.82
2.41
2.24
1.95
1.86
1.58 1.68
1.37
0.84
1.89
1.65
1.11 1.27 1.14 1.04 1.34
FY16-17 FY17-18 FY18-19 FY19-20 FY20-21 Q1 FY21 Q1 FY22
Currency Futures Currency Options
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Decrease in Currency Derivative Segment volumes due to –
•
Restricted Bank timings for trading due to COVID-19
•
Merger of some Nationalized Banks
•
Third party Trading software issues post interoperability
•
Due to second wave of COVID-19 during April & May 2021
many banks allowed treasuries to Work from Home
installation and shifting of terminal took time.
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10

Business – Segment Update

Commodity Derivatives – Performance

Average Daily Turnover (₹ million)

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32,237
24,111
20,455 32,145
5,127
2,563 1,793 3
341
2,194 3,656 5,124
369 1,402
92
FY18-19 FY19-20 FY20-21 Q1 FY21 Q1 FY22
Agri Energy Bullion Base Metal
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Second Largest Commodity Derivatives Exchange in India

Launched trading in BSE SUFI Steel Billets futures contract on July 22, 2021

First exchange to launch Options in Goods contract in Gold Mini and Silver kg.

First exchange in India which has seen deliveries in both LBMA & BIS Standard Delivery

Launched world’s only Almond Future Contracts on June 22, 2020

1,78,000 kgs of Almond in Shell delivered on exchange platform

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• FY18-19 includes data from the date of launch i.e. Oct 1, 2018

Launched BSE E-Agricultural Markets Ltd. (BEAM), an electronic spot platform for agriculture commodities on December 11, 2020

11

Business – Segment Update

BSE StAR Mutual Fund Platform – Introduction

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E-platform - access from
remote areas
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BSE StAR MF
Mutual Funds
E-platform for
investment and
redemption in
units of Mutual
Funds and other
Financial Products
on behalf of
clients
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24x7 order acceptance
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Facilitates paperless SIP
investment
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Allows any day STP or SWP
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Paperless bank mandate
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Allows multi-mode e-
platform access
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Real-time investor registration
& onboarding, Online MFD
registration
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Unified Payment Interface
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Unique overnight
investment framework
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IFA StAR MF Mobility
mobile application
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12

Business – Segment Update

BSE StAR Mutual Fund Plus – Value Drivers

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Investor risk profiling
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Complete power-
packed solution for
RIAs/Distributors
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Enables client
onboarding & eKYC
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Customer portfolio
management
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Portfolio reporting &
business reporting
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Brokerage calculation &
reconciliation module
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Regulatory & compliance
requirements
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Customisable admin
utility module
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StAR MF Plus - a premium platform for Distributors and Advisors
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13

Business – Segment Update

BSE StAR Mutual Fund Platform – Pan-India Reach & Coverage

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Mutual Fund Registered
Number of registered Number of Schemes
Investors with Mutual Fund Available
41
57.1
Million 10,193
Number of distributors Number of
69,789 712
who can transact cities/towns covered
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Data as on June 30, 2021

14

Business – Segment Update

BSE Star Mutual Fund Platform – Performance

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Number of Orders - Mutual Fund (million)
93.79
57.48
36.01 35.36
18.56
17.03
6.48
FY16-17 FY17-18 FY18-19 FY19-20 FY20-21 Q1 FY21 Q1 FY22
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•
StAR MF contributed ₹ 60,720 million as net equity inflow in
June 2021 quarter against industry inflow of ₹ 59,880 million
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Mutual Fund Revenue (₹ million)
447
341
290
142
99 99
FY17-18 FY18-19 FY19-20 FY20-21 Q1 FY21 Q1 FY22
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15

Business – Segment Update

Services to Corporates - Performance

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	1,042 1,280 1,461 1,580 1,520 359 371 340 496 420 300 335 32 119 FY16-17 FY17-18 FY18-19 FY19-20 FY20-21 Q1 FY21 Q1 FY22 Listing Fees (₹ million) Annual Listing Fee Listing processing and Other Listing fees 1,382 1,776 1,881 1,855 CAGR (2017-2021) 8% 1,880 490 391			143 331 150 182 345 18 85 44 100 102 58 55 7 10 187 431 252 240 400 25 95 Book Building & Other Services (₹ million) CAGR (2017-2021) 21%
				FY16-17 FY17-18 FY18-19 FY19-20 FY20-21 Q1 FY21 Q1 FY22 Book Building Fees Other Services Fees

16

Business – Segment Update

India International Exchange IFSC – Introduction

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Asset Classes & Contracts

Trading Hours

• Equity Index Derivatives:

• Indian Stock Futures :

• Commodity Futures :

• Commodity Options :

• Currency Derivatives:

• Debt Securities:

• Global Depository Receipts

• Infrastructure Investment Trusts

• Real Estate Investment Trusts

• Exchange Daily Trading Hours

• 22.00 Hours

• Sensex and India 50

131 stocks including Reliance Industries Limited, HDFC Bank Limited, Axis Bank Limited, Infosys Limited, Tata Steel Limited, Maruti Suzuki India Limited, Tata Motors Limited, ICICI Bank Limited, Larsen & Toubro Limited and State Bank of India Limited

• Gold, Gold KG, Silver, Copper, Aluminium, Lead, Nickel, Zinc, BRENT Crude Oil, QGold, QSilver Gold

• INR USD , USD INR , EUR USD, GBP USD and JPY USD

• Masala Bonds, Foreign Currency Denominated Bonds

• 04:30:00 hours to 17:00:00 hours and 17:00:01 hours to 02:30:00 hours (Indian Standard Time)

Global Access

• BSE’s India INX launches Global Access with connectivity to CME Group Exchanges, LME, ICE US & Europe, Eurex & Euronext N.V.

India INX Shareholding Structure *

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2.74% [9.32%]
8.16%
79.78%
BSE Limited ICICI Bank
DCB Bank Limited Individual Shareholders
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India ICC Shareholding Structure
15.47%
4.51%
7.92%
72.10%
BSE Limited ICICI Bank
DCB Bank Limited Individual Shareholders
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On May 08, 2020 Hon'ble Finance Minister Smt. Nirmala Sitharaman virtually inaugurated Rupee Dollar Derivatives contracts open for trading on India INX.

17

*Data as on June 30, 2021

Business – Segment Update

India International Exchange IFSC – Performance

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MTN Programme []
100% [@]
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100% [@] of MTN established in IFSC are established
with INDIA INX
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Derivative Trading []
13%
87%
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*Data as on June 30, 2021

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Bonds Listed []
99% [#]
99% [#] of the bonds listed in IFSC are listed on INDIA
INX
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Listing Business Performance (USD million)

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11,370
2,500
25,574
7,418
17,000
5,541 600 585
6,000
2,000
FY 17-18 FY 18-19 FY 19-20 FY 20-21 Q1 FY21 Q1 FY22
Debt Securities (Drawdowns and Standalone ) Listed on GSM
Medium Term Notes programmes established on GSM
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During Q1 FY22 ReNew Wind Energy Delhi
Private Limited (along with 9 other group
companies) becomes first Indian Company to
have its issuer subsidiaries exclusively listed
USD 585 million green dollar bonds on India
INX.
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18

Business - Segment Update

India International Exchange IFSC

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Total Turnover (in USD Million) Number of Contracts Traded (in thousands)
127,612
1,807,252
765,823
47,750
45,289
587,483
196,934 13,881 12,071
130,359
175 27,228 18 1,677
FY16-17 FY17-18 FY18-19 FY19-20 FY20-21 Q1 FY21 Q1 FY22 FY16-17 FY17-18 FY18-19 FY19-20 FY20-21 Q1 FY21 Q1 FY22
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Introduction of USD INR Contracts has
witnessed momentum in Currency
Derivatives turnover
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Highest Volume in a day
1,906,949 Traded contracts
on 10th March 2021
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Highest Turnover in a day
$ 30.30 Billion
on 10th March 2021
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19

Business - Segment Update

BSE Ebix Insurance Broking

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Launched Health
Insurance product
on June 3, 2020
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1517 Policies issued in
Q1 FY22
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20

Business - Segment Update BSE Ebix Insurance Broking

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Total Premium Collected (₹ million) Total Policies Issued
29.30
28.35
9579
5.18
1517
1388
FY20-21 Q1 FY21 Q1 FY22 FY20-21 Q1 FY21 Q1 FY22
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•
Premium collected has grown by 447% in Q1 FY22 as compared
to Q1 FY21
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21

Business

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Global Rankings

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Currency
10 [th] highest Market Futures 4 [th] largest
globally with Capitalization Traded globally with
$ 3.08 trillion Volume 27.34 million#
Electronic Book Currency Options
Trades Traded Volume
Number of
7 [th] largest Listed Companies 2 [nd] largest
globally with globally with
77.2 million# 40.95 million#
Highest globally
with Data as on June 30, 2021
5,491 # Data for the month of June 2021
Source: BSE/WFE
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*Data as on June 30, 2021 # Data for the month of June 2021 Source: BSE/WFE

22

Business

Marketshare

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74%
44%
41%
3
25%
7% 7% 9%
COMPANIES/ CURRENCY INTEREST EQUITY DEBT/ FIXED EQUITY CASH COMMODITY
SECURITIES DERIVATIVES RATE DERIVATIVES INCOME DERIVATIVES
LISTED 3 DERIVATIVES
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87%
72%
61%
55%
StAR MF 1 SME 2 BSE Bond India INX
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Established leader in Listing related Business. Marketshare improvement in Equity Cash, Equity Derivatives & Commodity Derivatives

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Market leadership in Blue Ocean Businesses
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All Marketshare for Q1 FY22

1 Marketshare in Mutual Fund StAR Platform based on the value of purchase / redemption orders received during Q1 FY22

2 Marketshare in SME Segment represents number of companies listed in SME segment as on June 30, 2021

3 As on June 30, 2021

23

Index

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About BSE
1.
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2. Business
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3. Key Growth Drivers & Other Initiatives

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4. Financial Highlights & Investor Information
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24

Key Growth Drivers & Other Initiatives

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Key Milestones – The transformation over time

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2012-2015
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2016-2017
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1875-2011
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• BSE started as The Native Share & Stock Broker's Association

• BSE corporatized

• BSE Small & Medium Enterprises (“BSE SME”) Platform launched

• Currency Derivatives launched

  • Trading of Sovereign Gold Bonds commenced

  • “BSE–BOND”- Electronic Book Mechanism launched

• Interest Rate Derivative Platform launched

• Mutual Fund Platform (“StAR MF”) launched

• New Debt segment launched

• India International Exchange (IFSC) Ltd. launched by Hon’ble Prime Minister of India, Shri Narendra Modi

• BSE becomes the fastest exchange in the world - median response speed of 6 micro-seconds

• BSE’s becomes the first listed exchange in India

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Over last few years, BSE has transformed itself from a conventional stock exchange to the 1st Universal Exchange in addition to setting up
e-commerce initiatives successfully
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Key Growth Drivers & Other Initiatives

Key Milestones – The transformation over time

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2020-2021
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2018-2019
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2022
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• Commodity Derivatives segment launched

• JV set up with Ebix Inc. to undertake insurance broking business

• Beta-launch of services by BSE Ebix Insurance Broking Services on February 07, 2020

• Launch of Commodity Options in GoldMand SilverKG

• Setup a wholly owned subsidiary company “BSE Administration & Supervision Ltd.” (BASL) for carrying out the administration and supervision activities of all SEBI-registered investment advisors (RIA) on June 01, 2021

• JV with Power Trading Corporation and ICICI Bank to set up a power exchange

  • Launched trading in delivery-based futures contract in BSE SUFI Steel Billets

• Launch of electronic spot platform for agricultural commodities - “BSE E-Agricultural Markets Ltd. (BEAM)” on December 11, 2020

• BSE launches StAR MF mobile application for IFA’s – “IFA StAR MF Mobility”

• Launch of StAR MF Plus, a premium platform for distributors and advisors on January 18, 2021

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Over last few years, BSE has transformed itself from a conventional stock exchange to the 1st Universal Exchange in addition to settingup
e-commerce initiatives successfully
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26

Key Growth Drivers & Other Initiatives

Key Growth Drivers - 1

Equity & Equity Derivatives

Mutual Fund

International Exchange

  - Savings in cost and convenience

• Inter-operability alongwith push towards best price execution likely to increase liquidity on BSE’s electronic trading platform over time.

• Constitution of the IFSC authority and its Board to facilitate growth of GIFT city as an international financial hub as well as growth of international exchange therein.

  • Strong network of inter-mediaries

  • Good network connectivity across country

  • Increasing household incomes

  • Increasing financial savings

• BSE’s initiative to introduce Weekly Options has received good response from market participants

• Investors friendly tax regime

• Launched StAR MF Plus - a premium platform for distributors and advisors

• Listing and Trading platform available for booking of investment products - Equity, InvITs, REITs, Depository Receipts; Debts Securities; Derivate Products - Index, Equity, Commodity, Currency Derivatives

• Supports Demat & Non-Demat transactions

• Purchase/Redeem/SIP/Switch Mutual Funds without filling lengthy forms

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01 02 03
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E-platform Services

• Expansion of services from Current platforms for providing e-platform services like bookbuilding for IPO, Offer to Buy, Offer for Sell, New Bond platform, etc.

• Launched an electronic spot platform for agricultural commodities - “BSE E- Agricultural Markets Ltd. (BEAM)

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04
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27

Key Growth Drivers & Other Initiatives

Key Growth Drivers - 2

Power Exchange

Insurance Broking

• Already commenced insurance broking in Motor, Health and Life Insurance

• Pranurja Solutions Limited incorporated to set up a power exchange jointly with Power Trading Corporation and ICICI Bank

• Continuous growth of Point of Sales

• Product diversification

• CERC granted registration to establish and operate a power exchange on May, 12, 2021

• Software integration with various insurance companies

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Commodity Derivatives

• Commodity futures contracts includes Gold, Silver, Copper, Oman Crude Oil, Guar Gum, Guar Seed, Cotton, Almond, Brent Crude Oil, Aluminium, Zinc, Turmeric, Steel

• Launch of Commodity Options in GoldM and SilverKG contracts in June 2020

• Launched trading in deliverybased futures contract in BSE SUFI Steel Billets in July 2021

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BSE Bond Platform

• Over ₹ 487 billion of debt was raised on BSE BOND platform through 82 issues in Q1 FY22

• Over ₹ 3,705 billion of debt was raised on BSE BOND platform through 755 issues with 52% market share during FY21

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28

Index

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About BSE
1.
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2. Business
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3. Key Growth Drivers & Other Initiatives
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4. Financial Highlights & Investor Information

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29

Financial Highlights & Investor Information

Integrated Business Model

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• Multiple contact points with members and market participants provides the ability to generate revenue from multiple levels of the business

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Primary Trading Clearing & Settlement Distribution
1 ◼ To an extent linked to
Transaction Charges ◼ Linked to market activity levels and household savings and investments
Market Activity
2 Treasury Income on Clearing and ◼ Linked to Market ◼ Linked to interest rates and, to an extent, market activity since that would lead to more margin being deposited by
Settlement Funds Activity to an Extent members
3 Other Securities Services ◼ Recurring ◼ Primarily consists of charges recovered from members for network connectivity
◼ Mostly derived from listing income that is not impacted by market activity
4 Services to Corporates ◼ Recurring ◼ Dependent on number of listed entities and hence is a recurring revenue stream
◼ Potential for increase if amount charged is increased
◼ Impacted primarily due to level of subscriptions and revision in pricing policies
5 Data Dissemination Fees ◼ Recurring
◼ Contributes only 4-5% in India compared to 10-25% in developed markets
Income From Investments and
6 ◼ Recurring ◼ Linked to investment yields
Deposits
7 Other Income ◼ Recurring ◼ Mostly derived from rent and training institute etc., which are stable sources of income
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30

Recurring

Linked to Market Activity

Financial Highlights & Investor Information

Consolidated Profit & Loss

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(₹ in million)

	Particulars	Jun’21 Quarter	Mar’21 Quarter	Jun’20 Quarter	FY 2020-21
1.	Transaction Charges	584	465	303	1,389
2.	Treasury Income on Clearing and Settlement Funds	102	88	69	301
3.	Other Securities Services	157	159	91	504
4.	Securities Services (1+2+3)	843	712	463	2,194
5.	Services To Corporates	586	665	416	2,258
6.	Other Operating Income	141	145	153	562
7.	Revenue From Operations (4+5+6)	1,570	1,522	1,032	5,014
8.	Income From Investments and Deposits	229	131	544	1,291
9.	Other Income	59	47	45	242
10.	Total Income (7+8+9)	1,858	1,700	1,621	6,547
11.	Employee Expenses	414	373	377	1,487
12.	Technology Cost & Technology Program	246	199	262	948
13.	Admin, LES & Other Expenses	497	577	531	2,191
14.	Total Operating Expenses (11+12+13)	1,157	1,149	1,170	4,626

31

Financial Highlights & Investor Information Consolidated Profit & Loss (cont’d)

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(₹ in million)

Sr. No.	Particulars	Jun’21 Quarter	Mar’21 Quarter	Jun’20 Quarter	FY 2020-21
15.	Operating EBITDA (7-14)	413	373	-138	388
16.	EBITDA Margin (15/7 in %)	26%	24%	-13%	8%
17.	Non-operating Expenses	158	181	155	682
18.	Profit Before Tax, Exceptional Items And Share Of Associates (10-14-17)	543	370	296	1,239
19.	Exceptional Items	-	-	-	-145
20.	Share of profits From Associates	136	113	101	432
21.	Tax Expenses	161	165	73	109
22.	Net Profit (18+19+20-21)	518	318	324	1,417
23.	Net Profit Margin (22/10 in %)	28%	19%	20%	22%
24.	Net Profit Attributable To Shareholders	534	326	332	1,449

32

Financial Highlights & Investor Information Standalone Profit & Loss

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(₹ in million)

Sr. No.	Particulars	Jun’21 Quarter	Mar’21 Quarter	Jun’20 Quarter	FY 2020-21
1.	Securities Services	646	544	357	1,650
2.	Services To Corporates	585	664	416	2,255
3.	Data Dissemination Fees	94	84	80	334
4.	Revenue From Operations (1+2+3)	1,325	1,292	853	4,239
5.	Income From Investments And Deposits	169	75	473	1,136
6.	Other Income	71	52	55	276
7.	Total Income (4+5+6)	1,565	1,419	1,381	5,651
8.	Employee Expenses	234	218	231	891
9.	Technology Cost & Technology Program	315	254	308	1,148
10.	Admin, LES & Other Expenses	436	507	384	1,792
11.	Total Operating Expenses (8+9+10)	985	979	923	3,831

33

Financial Highlights & Investor Information Standalone Profit & Loss (cont’d)

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(₹ in million)

Sr. No.	Particulars	Jun’21 Quarter	Mar’20 Quarter	Jun’20 Quarter	FY 2020-21
12.	EBITDA (4-11)	340	313	-70	408
13.	EBITDA Margin (12/4 in %)	26%	24%	-8%	10%
14.	Non-operating Expenses	99	132	113	514
15.	Profit Before Exceptional Item and Tax (7-11-14)	481	308	345	1,306
16.	Exceptional Item	-	-	-	-146
17.	Tax Expenses	110	159	22	187
18.	Net Profit After Tax (15+16-17)	371	149	323	973
19.	Net Profit Margin (18/7 in %)	24%	11%	23%	17%

34

Financial Highlights & Investor Information Financial Overview

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Consolidated Key Performance Indicators (₹ in million) Standalone Key Performance Indicators (₹ in million)
29% 31% 28% 14% 22% 20% 28%
36% 38% 32% 15% 17% 23% 24%
6,989 6,875
6,547
6,183 6,300 6,510
6,124
5,509 5,421 5,651
1,785 2,148 1,942 886 1,417 1,621 324 1,858 518 1,986 2,479 1,959 821 973 1,381 323 1,565 371
FY16-17 FY17-18 FY18-19 FY19-20 FY20-21 Q1 FY21 Q1 FY22 FY16-17 FY17-18 FY18-19 FY19-20 FY20-21 Q1 FY21 Q1 FY22
Total Revenue Net Profit Net Margin Total Revenue Net Profit Net Margin
Consolidated Earnings per share (₹) [Continuing operations] Standalone Earnings per share (₹)
45.45
40.41 39.37
36.78
36.39 37.12
33.00
23.3
18.04
16.72
11.32
7.09 7.06 8.10
FY16-17 FY17-18 FY18-19 FY19-20 FY20-21 Q1 FY21 Q1 FY22 FY16-17 FY17-18 FY18-19 FY19-20 FY20-21 Q1 FY21 Q1 FY22
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* Net profit from Continuing operation and excluding Gain from CDSL Stake Sale

Financial Highlights & Investor Information Financial Overview (cont’d)

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Consolidated Net Worth (₹ million)

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30,749
29,286
26,255
25,464
24,251 24,924 24,603
FY16-17 FY17-18 FY18-19 FY19-20 FY20-21 Q1 FY21 Q1 FY22
100 Dividend per share (₹) & Pay-out Ratio [#] 140%
90
120%
80 93% 95% 97% 95% 99%
70 100%
60
80%
50
36 60%
40
30
28
30 21 40%
17
20
20%
10
- 0%
FY16-17 FY17-18 FY18-19 FY19-20 FY20-21
Dividend Per Share Dividend Payout Ratio
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Standalone Net Worth (₹ million)

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27,743
26,262
24,290
21,650 21,872 21,992 22,245
FY16-17 FY17-18 FY18-19 FY19-20 FY20-21 Q1 FY21 Q1 FY22
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			Dividend pay-out and Buyback Details
		Financial Year	Dividend (Including DDT) #	Buyback (Including transactions cost & Tax)	Total (₹ million)
			(₹ million)	(₹ million)
		2015-16 2016-17	937 765	- -	937 765
		2017-18	1,733	450	2,183
		2018-19	2,255	1,230	3,485
		2019-20	1,584	4,762	6,346
		2020-21 2021-22	779 962	- -	779 962
		Total	9,015	6,442	15,457

#Dividend pay-out ratio is calculated based on Standalone Profit excluding gain on sale of strategic investment

#Dividend Distribution Tax

36

Business

Shareholding Pattern

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SHAREHOLDING PATTERN
Trading Members
Others
13%
67%
Banks
1%
Financial
Institution
6%
FDI / FII / FPI
12%
Mutual Funds
1%
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*Banks includes bank which are trading members

SOME KEY SHAREHOLDERS(As on June 30, 2021)
Life Insurance Corporation of India	5.61%
Zerodha Broking	3.71%
Siddharth Balachandran	2.98%
Acacia Banyan Partners Limited	1.74%
Akshay Vasantlal Mehta	1.69%
Jupiter India Fund	1.55%
Acacia Conservation Fund, LP MSPL Limited	1.37% 1.33%
S Gopalakrishnan	1.18%

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Closing Price

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1,400
1,200
1,000
800
600
400
200
-
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Closing Price

MARKET DATA
Market Capitalization*(₹ Mn)	56,226
Price*(₹)	1248.80
No. of Shares Outstanding	4,50,24,297
Face Value (₹)	2.00
Avg. Qtrly Trading Volume (₹ Mn)	771.92
Avg. Qtrly Trading Volume (Mn shares)	0.95
52 week High-Low*(₹)	1,410.00 – 466.00

Paid up Capital ₹ 90.04 million | Face Value per share ₹ 2/- each

*Market data as at July 31, 2021

37

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THANK YOU

INVESTOR RELATIONS CONTACT :

Yogesh Joshi

Head – Investor Relations

• +91 22 2272 8810

• bse.ir@bseindia.com

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