Calcutta Stock Exchange Unlisted Shares
About Calcutta Stock Exchange Unlisted Shares
The Calcutta Stock Exchange (CSE), situated at the iconic Lyons Range in Kolkata, India, holds the distinction of being the second-oldest stock exchange in South Asia. Established in 1908, CSE has played a pivotal role in India’s financial history, emerging as the country’s second-largest bourse over the decades.
Despite its historical significance and contributions to the evolution of stock trading in India, the exchange faces an uncertain future. The Securities and Exchange Board of India (SEBI) has directed CSE to exit operations under its regulatory exit policy. However, the matter remains under judicial review by the Calcutta High Court, providing a lifeline to the exchange amidst this challenging scenario.
This judicial standstill contrasts sharply with the fate of 13 other regional stock exchanges, which have ceased operations in the last three years, including prominent institutions like the Bangalore Stock Exchange, Hyderabad Stock Exchange, and Madras Stock Exchange. The ongoing legal proceedings surrounding CSE symbolize both its resilience and the challenges regional exchanges face in adapting to a rapidly evolving regulatory and financial landscape.
Pros
- Historical Significance & Legacy: As South Asia’s second-oldest stock exchange, CSE holds a prestigious position in India’s financial history, adding credibility to its brand.
- Strong Asset Base: Despite financial challenges, CSE has substantial assets, including ₹40,279 crore in total assets and strong investment holdings (₹7,921 crore in 2024), which provide financial security.
- Positive PAT Growth: CSE has shown profitability improvement, with PAT increasing from ₹25 crore in 2022 to ₹83 crore in 2024, indicating resilience despite operational challenges.
Cons
- Regulatory Uncertainty: SEBI has directed CSE to exit operations, creating uncertainty about its future. The exchange is currently under judicial review, which affects investor confidence.
- Financial Instability: The exchange has been reporting negative EBITDA and EBIT margins, indicating operational inefficiencies and sustained financial losses.
- Declining Relevance: With the rise of national stock exchanges like NSE and BSE, regional exchanges like CSE struggle to attract sufficient trading volumes and liquidity.
Key Details
| Share Name | Particulars |
|---|---|
| Calcutta Stock Exchange Unlisted | 845.00 |
| Shares Price | Per Equity Share |
| Lot Size | 25 Shares |
| 52 Week High | – |
| 52 Week LoW | – |
| Depository | NSDL & CDSL |
| PAN Number | AABCT8138N |
| ISIN Number | INE510I01013 |
| CIN | U74999PN2002PLC016834 |
| RTA | C B Mangement Services |
| Fundamentals | Value |
|---|---|
| Market Cap (in cr.) | 51.65 |
| P/E Ratio | 63.01 |
| P/B Ratio | 0.26 |
| Debt to Equity | 0 |
| ROE (%) | 0.41 |
| Book Value | 3312 |
| EPS | 13.41 |
| Face Value | ₹1 |
| Total Shares | 611,250 |
Financials
| P&L Statement | 2024 | 2023 | 2022 |
|---|---|---|---|
| Revenue | 1281 | 566 | 444 |
| Cost of Material Consumed | 0 | 0 | 0 |
| Gross Margins | 100 | 100 | 100 |
| Change in Inventory | 0 | 0 | 0 |
| Employee Benefit Expenses | 1011 | 971 | 852 |
| Other Expenses | 778 | 423 | 368 |
| EBITDA | -508 | -828 | -776 |
| OPM | -39.66 | -146.29 | -174.77 |
| Other Income | 987 | 976 | 928 |
| Finance Cost | 0 | 0 | 0 |
| D&A | 23 | 21 | 20 |
| EBIT | -531 | -849 | -796 |
| EBIT Margins | -41.45 | -150 | -179.28 |
| PBT | 456 | 127 | 132 |
| PBT Margins | 35.6 | 22.44 | 29.73 |
| Tax | 373 | 88 | 107 |
| PAT | 83 | 39 | 25 |
| NPM | 6.48 | 6.89 | 5.63 |
| EPS | 13.41 | 6.29 | 4.03 |
| Ratio | FY24 | FY23 | FY22 |
|---|---|---|---|
| Operating Margin | 36% | 24% | 29% |
| Net Profit Margin | 19% | 19% | 1% |
| Return on Equity | 3% | 2% | 0.06% |
| Debt-Equity | 0 | 0 | 0.00 |
| Current Ratio | 1.47 | 1.03 | 1.37 |
| Dividend Payout | 0% | 0 | 0% |
| Company | Calcutta Stock Exchange (CSE) | Bombay Stock Exchange (BSE) |
|---|---|---|
| Market Cap (₹ Crores) | 40 | 58619 |
| Profitability Margin (%) | 19% | 48% |
| ROCE (%) | 3% | 20% |
| ROE (%) | 2.51% | 15% |
| D/E Ratio | 0.00 | 0.00 |
| P/E Ratio | 66.63 | 98.40 |
| P/B Ratio | 0.20 | 17.70 |
| Book Value per Share (₹) | 3211.47 | 244.00 |
| Assets | 2024 | 2023 | 2022 |
|---|---|---|---|
| Fixed Assets | 2791 | 2807 | 2796 |
| CWIP | 0 | 0 | 0 |
| Investments | 7921 | 7204 | 3844 |
| Trade Receivables | 108 | 173 | 150 |
| Inventory | 0 | 0 | 0 |
| Other Assets | 29459 | 29007 | 32429 |
| Total Assets | 40279 | 39191 | 39219 |
| Liabilities | 2024 | 2023 | 2022 |
|---|---|---|---|
| Share Capital | 6.19 | 6.19 | 6.19 |
| FV | 1 | 1 | 1 |
| Reserves | 20238 | 19715 | 19353 |
| Borrowings | 0 | 0 | 0 |
| Trade Payables | 145 | 104 | 93 |
| Other Liabilities | 19889.81 | 19365.81 | 19766.81 |
| Total Liabilities | 40279 | 39191 | 39219 |
