Transcript of the Earnings Conference Call
MCX · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
MCX reported a strong Q2 FY26 with consolidated revenue of INR 401 crore, up 29% year-on-year, driven by Average Daily Turnover (ADT) more than doubling to INR 4.11 lakh crore from INR 2.02 lakh crore last year. EBITDA grew 32% to INR 270 crore and profit after tax rose 29% to INR 197 crore, with options revenue (INR 223 crore) significantly outpacing futures revenue (INR 114 crore). Management discussed the October 28 trading glitch caused by a predefined UCC parameter limit, now resolved with systems back at the main site. The company highlighted new product launches including MCX BULLDEX (bullion index options), monthly silver options, and Nickel futures, plus consolidation of base metal delivery centers. Margin requirements for gold and silver were raised in October due to volatility, and 17 new members were added this year.
Strong operational and financial results reinforce MCX's growth trajectory, but the second technical glitch in four months raises concerns about infrastructure reliability and potential SEBI regulatory action that management declined to elaborate on. Shareholders should note upcoming share split record date announcement and continued product expansion including the BULLDEX index options which FPIs cannot yet participate in.