Transcript of the Earnings Conference Call with investor(s)/analyst(s) on Q1 FY - 2026 results.
MCX · price
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MCX posted its highest-ever quarterly revenue of INR 406 crore in Q1 FY26, up 60% year-on-year, with profit after tax of INR 203 crore and average daily turnover of INR 3.1 trillion. The quarter saw several new product launches including 10-gram gold futures, silver options, electricity futures, and cardamom contracts, while bullion options now make up 46% of notional turnover but only 18% of premium income. Transaction income split was INR 109 crore from futures and INR 227 crore from options. The Board approved a 1:5 stock split (face value reducing from INR 10 to INR 2) to make shares more affordable. Electricity futures, launched in June, have built an open interest of 700 lots with over half coming from corporate participants.
Strong quarter reflects ongoing momentum from product launches and broader institutional, MSME, and retail participation. However, CFO warned margins could be under pressure given weaker July volumes, and management prioritised growth investments over margin expansion. Stock split, once approved, may improve share liquidity and retail accessibility.