Founded over 150 years ago, BSE Ltd has established itself as a cornerstone of India's capital markets, recently marking its 150th anniversary with record-breaking achievements. The exchange reported revenue of $383m for the financial year ending March 2025, nearly doubling the $193m recorded the previous year. Net profit rose from $49m to $157m, representing an extraordinary 2818 percent increase, with profit margins expanding to 40 percent—its highest ever. This growth is attributed to strategic expansion across market segments, particularly equity derivatives, where revenue surged sevenfold to $166m and market share rose from 8 to 25 percent. Client participation doubled to 7m users, and intermediary partnerships grew from 250 to 550. BSE also celebrated a rise in institutional investor confidence, with foreign ownership increasing from 8 to 40 percent. The launch of initiatives such as a new identity, commemorative coin, and ‘BSE 150’ branding underline its commitment to modernisation. Its mutual fund platform, BSE StAR MF, commands a 90 percent market share, with transactions rising 60 percent year-on-year. Under new leadership, BSE has prioritised efficiency, innovation and customer-centricity, achieving a CAGR of 34 percent in revenue and 50 percent in profit since January 2023. With strategic goals to grow its derivatives business and expand participation, BSE continues to set benchmarks in capital market efficiency. CFI.co Judging Panel congratulates BSE Ltd on winning the 2025 award for Champions of Capital Market Innovation and Efficiency (Asia).