Whalesbook
Q4 Mein Toofani Performance!
Yaar, NSE ne FY26 ke March quarter (Q4) mein sabko surprise kar diya! Unka net profit 8% zoom karke ₹2,871 crore pahunch gaya, aur revenue toh 32% fadak kar ₹4,968 crore ho gaya. Iske peeche ka main reason hai cash aur derivatives mein trading ka 39% zyada hona, jisse transaction fees ₹4,077 crore tak pahunch gayi. Operating EBITDA bhi 30% badh kar ₹3,633 crore ho gaya.
Poore Saal Ki Picture Thodi Alag
Lekin agar poore FY26 ki baat karein toh picture thodi alag hai. Poore saal mein net profit 15% gir gaya aur ₹10,302 crore pe aa gaya, aur revenue bhi 3% kam hokar ₹16,601 crore ho gaya. Ye decline market mein thodi slow activity aur derivatives trading par kuch regulatory changes ke karan hai.
Expenses Aur Margin
Expenses bhi 32% badh gaye the quarter mein, jo ₹1,486 crore rahe. Is wajah se margin thoda sa kam ho kar 73% ho gaya, jo pehle 74% tha.
Regulatory Issues Aur IPO Ki Taiyari
Ab baat karte hain woh purani cases ki. NSE ne co-location aur dark fibre cases ke settlement ke liye ₹84 crore alag rakhe hain, jisme Sebi ki approval chahiye. Iske liye unhone ₹1,491.21 crore ka revised terms bhi submit kiya hai Sebi ko. October 2024 mein ₹643 crore ka penalty settlement bhi hua tha. Sebi ko IPO approve karne se pehle yeh sab disclose karna padega, par lagta nahi ki isse listing delay hogi.
Market Context Aur Valuation
Market mein NSE ka raaj hai, BSE abhi peeche hai. NSE ka IPO kaafi bada hone wala hai, valuation $65 billion se $75 billion ke beech expect hai. Global exchanges jaise ICE aur LSEG ne bhi acche results diye hain. Indian IPO market ab thoda selective ho gaya hai, kayi naye listings apne offer price se neeche trade kar rahe hain. NSE ka yeh IPO ek significant event hoga.