FY24 result of Calcutta Stock Exchange

08 November 2024

• ​Financial Highlights: CSE (Calcutta Stock Exchange) experienced significant revenue growth, with an increase of 47.4% from Rs 17.89 Cr in FY23 to Rs 26.38 Cr in FY24, largely attributed to the collection of old listing-related fees. This boost in revenue also led to a rise in profit before tax, which climbed to Rs 8.63 Cr from Rs 4.09 Cr the previous year. However, after making the necessary contributions to the Settlement Guarantee Fund and the Investors’ Service Fund, the final profit for FY24 stood at Rs 0.59 Cr, an improvement from Rs 0.11 Cr in FY23. Despite this positive trend, the company did not declare a dividend due to an accumulated deficit of Rs 2.12 Cr.
  
  
• Operational Highlights: As of March 31, 2024, the Calcutta Stock Exchange (CSE) had a total of 1,816 companies listed, although the exchange did not experience any new direct listings due to recent regulatory changes. It approved voluntary delisting for 23 companies and compulsory delisting for three others. In a significant development, the Calcutta High Court has granted permission for the CSE to establish its own Clearing Corporation or collaborate with an existing one, with Deloitte India appointed to assess the feasibility of a new trading platform. Furthermore, CSE's subsidiaries have shown varied performance; CSE Capital Markets Pvt. Ltd. achieved a profit of Rs 0.22 Cr through its depository operations, while Lyons Range Securities Clearing Corporation Ltd. is awaiting SEBI's approval to function as a Clearing Corporation and reported a modest profit of Rs 0.02 Cr from its investment income.
• Strategic Initiatives and Future Prospects: CSE is actively working to re-establish its trading operations by either initiating its own Clearing Corporation or forming strategic partnerships, per SECC Regulations. Recognizing its historical significance, CSE aims to tap into the market potential in Eastern and Northeastern India, particularly within the SME sector. To aid this revival, the exchange has partnered with Deloitte to evaluate the financial viability and operational needs for relaunching its trading services.