National Stock Exchange of India (NSE) NSE
India's dominant stock exchange and the world's largest derivatives exchange by contracts; owns NSE Clearing, Nifty indices, data and co-location businesses
Mapped in 1 theme: Capital Markets.
Where National Stock Exchange of India (NSE) sits in the supply chain
National Stock Exchange of India (NSE) appears in 1 supply-chain layer in one theme, Capital Markets.
Revenue and profit
| ₹ Cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 8,313 | 11,856 | 14,780 | 17,141 | 16,601 |
| Net profit | 5,198 | 7,356 | 8,306 | 12,188 | 10,302 |
Latest-year revenue ₹16,601 Cr (FY26, company-wide).
Note: Listed on BSE only (an exchange cannot list on itself).
Strengths
- ~93% of cash-market turnover and nearly all equity futures (FY26, per RHP)
- Very high operating margins on a mostly fixed cost base
- Listed on BSE on 24 Sep 2026 after a ~₹22,562 Cr offer for sale - no promoter, widely held
Risks
- Equity options are its largest revenue line - SEBI curbs and BSE's Sensex options cut its premium share from ~97% (FY24) to ~68% (Q1 FY27)
- FY26 profit fell on lower volumes and a co-location settlement provision
- Regulatory and governance scrutiny that comes with being the market's core
Common questions
What does National Stock Exchange of India (NSE) do?
India's dominant stock exchange and the world's largest derivatives exchange by contracts; owns NSE Clearing, Nifty indices, data and co-location businesses.
Where does National Stock Exchange of India (NSE) sit in the supply chain?
National Stock Exchange of India (NSE) (NSE: NSE) is mapped in 1 supply-chain layer: Exchanges & clearing (Capital Markets).
Who are National Stock Exchange of India (NSE)'s peers?
In the Exchanges & clearing layer of Capital Markets: BSE and Multi Commodity Exchange of India (MCX).
What is National Stock Exchange of India (NSE)'s market cap and valuation?
As of 6 Nov 2026: market cap ₹4.72L Cr, P/E 46.2x, ROCE 40.6%, ROE 28.6%, dividend yield 0%.