Operates India's commodity derivatives exchange, where members and their clients trade futures and options on bullion, energy, base metals and agricultural commodities. Revenue is generated from transaction fees on this trading activity. FY26 consolidated revenue was INR 2,302 crores and profit after tax INR 1,331.55 crores. Product launches have broadened participation: Gold Mini, Gold Ten futures, silver monthly options, the BULLDEX index and a Silver 100 futures contract in 100-gram lots aimed at jewelers, SMEs and retail investors. A Coal Exchange has been licensed as an independent SEBI-regulated subsidiary. Cost structure is light: other operating expenses are 11.6% of revenue, materials 9.2%, employee cost 7.8% and depreciation 3.4%. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Trading fees on commodity futures and options, Bullion contracts, Energy contracts, Base metals and agri contracts, Coal Exchange subsidiary. Cyclical, asset-light exchange with high operating leverage
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 367 | 514 | 684 | 1,113 | 2,302 |
| EBITDA (ex other income) | 142 | 150 | 64 | 667 | 1,642 |
| margin % | 38.6 | 29.2 | 9.4 | 60.0 | 71.3 |
| Owners' profit | 143 | 149 | 83 | 560 | 1,332 |
| EPS, as reported (₹) | 28.18 | 29.27 | 16.30 | 109.82 | 52.22 |
| ROE % · ROCE % | 7.4 · 9.2 | 7.2 · 9.2 | 3.8 · 4.7 | 29.7 · 24.1 | 46.8 · 39.0 |
| Debt / equity (x) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | 391 | 141 | 521 | 950 | 3,035 |
| Capex | 0 | (71) | (143) | (96) | (6,810) |
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 234 | 286 | 301 | 291 | 373 | 374 | 666 | 889 |
| Profit before tax | 138 | 191 | 201 | 168 | 256 | 249 | 505 | 682 |
| Net profit | 111 | 154 | 160 | 135 | 203 | 197 | 401 | 530 |
| EPS (₹) | 21.75 | 30.12 | 31.38 | 26.56 | 39.84 | 38.72 | 15.73 | 20.78 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| BSE LIMITED | 1,38,033 | 49.2 | 20.31 | 40.2 | 36.6 | 40.0 | 57.3 | 75.8 |
| MULTI COMMODITY EXCHANGE ◆ | 83,538 | 28.5 | 29.33 | 46.8 | 46.8 | 39.0 | 42.6 | 78.9 |
| INDIAN ENERGY EXC LTD | 10,146 | 20.0 | 7.43 | 15.5 | 36.1 | 44.2 | 14.1 | 111.4 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 11 Sept 2026 · MCX schedules investor meeting with RatnaTraya Capital on September 18, 2026 | board shareholder meetings | low | — | — |
| 10 Sept 2026 · MCX invests Rs 9.20 cr more in IIBHL via rights issue | strategic transactions | low | — | — |
| 9 Sept 2026 · MCX to meet Ninety One fund on September 18, 2026 | board shareholder meetings | low | — | — |
| 7 Sept 2026 · MCX schedules analyst meeting with Eternalis Capital Trust on Sept 10 | board shareholder meetings | low | — | — |
| 3 Sept 2026 · MCX to hold one-on-one meeting with Polar Capital on Sept 9, 2026 | board shareholder meetings | low | — | — |
| 1 Sept 2026 · MCX to hold one-on-one meeting with Nuvama Institutional Equities on Sep 4 | board shareholder meetings | low | — | — |
| 27 Aug 2026 · MCX informs shareholders about 24th AGM notice via newspaper ad | compliance | minimal | — | — |
| 27 Aug 2026 · MCX to hold investor meeting with American Century on Sept 4 | board shareholder meetings | low | — | — |
| 27 Aug 2026 · MCX to hold one-on-one meeting with Epoch Investment Partners on September 3 | board shareholder meetings | low | — | — |
| 26 Aug 2026 · MCX 24th AGM notice and FY26 annual report shared with shareholders | compliance | minimal | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| Metric | Company | Group median | Rank | Better than |
|---|
| P/E (TTM) | 28.5 | 20.3 | 42 of 62 | 33% |
| P/B | 29.3 | 3.0 | 62 of 65 | 5% |
| ROCE | 39.0 | 16.0 | 5 of 33 | 88% |
| ROE | 46.8 | 11.4 | 2 of 65 | 98% |
| Debt / Equity | 0.0 | 0.0 | 1 of 65 | 33% |
| EBITDA margin | 78.9 | 45.7 | 10 of 64 | 86% |
| Revenue growth | 205.1 | 23.1 | 2 of 58 | 98% |
| Profit growth | 291.1 | 17.6 | 6 of 61 | 92% |
| Market cap | 83538 | 990 | 5 of 69 | 94% |
| A state: the latest filed quarter and the measured reactions |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
