NSE CEO's Pay Rises 41% to Rs 15.88 Crore in FY26

The IPO papers further showed that sitting fees paid to Non-Independent Director Veneet Nayar nearly doubled to Rs 20.8 lakh in FY26 from Rs 10.5 lakh in FY24.

The disclosure comes as the country's largest stock exchange prepares its long-awaited public listing after receiving regulatory approval to proceed with the IPO process.

In addition, the disclosed remuneration excludes contingent or deferred compensation earned during FY26 that will be paid in subsequent years, according to the DRHP.

The DRHP also highlighted that the NSE's core operating performance moderated during FY26 as trading activity slowed across key market segments.

The exchange's revenue from operations declined by more than 3 per cent year-on-year to Rs 16,601.3 crore in FY26 from Rs 17,140.67 crore in the previous financial year.

Revenue from transaction charges, the exchange's largest source of operating income, fell 4 per cent to Rs 13,057.01 crore from Rs 13,635.76 crore in FY25.

Income from clearing and settlement services also declined sharply during the year.

The filing further showed softer trading activity across both the cash and derivatives segments.

Average daily trading volume (ADTV) in the cash market declined 6.59 per cent to Rs 1,05,516.66 crore in FY26, while equity futures ADTV dropped more than 14 per cent year-on-year.

Moreover, equity options trading, measured in premium value terms, also witnessed a decline.

In its risk factors, the NSE cautioned that any sustained decline in trading volumes or transaction values could adversely affect demand for its products and services, which may, in turn, impact its business performance, financial condition, growth prospects and cash flows.