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Multi Commodity Exch Overview

Multi Commodity Exchange of India Ltd (MCX) is a holding company. The Company is engaged in Settlement of Commodity Derivatives and Facilitating Trading, and Clearing. It operates as a commodity futures change. It offers its merchandise in numerous segments, together with Bullion, consisting of Gold, Gold Mini, Gold Petal and Silver; Base Metals, along with, Aluminum, Copper, Lead, Nickel and Zinc; Energy, such as Crude Oil, Brent Crude Oil and Natural Gas, and Agro Commodities, along with Cardamom, Cotton, Crude Palm Oil, Kapas and Mentha Oil....Read More

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Multi Commodity Exch Key Financials

Market Cap ₹63001 Cr.

Stock P/E 112.5

P/B 17.9

Current Price ₹2470.7

Book Value ₹ 138.2

Face Value 2

52W High ₹2706

Dividend Yield 0.24%

52W Low ₹ 882

Multi Commodity Exch Share Price

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Volume
Price

Multi Commodity Exch Quarterly Price

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Multi Commodity Exch Peer Comparison

Multi Commodity Exch Quarterly Results

#(Fig in Cr.) Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Net Sales 165 192 181 234 286 301 291 373 374 666
Other Income 19 18 18 19 25 23 29 33 27 31
Total Income 184 209 199 253 311 324 320 406 401 697
Total Expenditure 194 211 79 102 106 108 131 132 131 170
Operating Profit -10 -2 120 151 205 216 189 274 270 527
Interest 0 0 0 0 0 0 0 0 0 0
Depreciation 7 11 14 13 14 15 22 17 20 22
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax -16 -13 106 138 191 201 168 257 250 505
Provision for Tax 2 -9 21 27 37 42 33 53 51 102
Profit After Tax -18 -4 86 111 153 160 135 204 199 403
Adjustments -1 -1 2 0 0 1 1 -1 -2 -1
Profit After Adjustments -19 -5 88 111 154 160 135 203 197 401
Adjusted Earnings Per Share -0.7 -0.2 3.4 4.3 6 6.3 5.3 8 7.7 3.1

Multi Commodity Exch Profit & Loss

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 222 235 259 260 300 398 391 367 514 684 1113 1704
Other Income 118 117 117 92 105 105 142 68 68 76 96 120
Total Income 341 352 376 352 405 503 532 434 581 759 1209 1824
Total Expenditure 143 160 180 188 213 219 244 206 364 620 447 564
Operating Profit 198 192 197 164 193 284 289 229 217 140 762 1260
Interest 1 0 0 0 0 0 0 0 0 0 0 0
Depreciation 26 25 19 17 15 18 22 23 22 36 64 81
Exceptional Income / Expenses 0 -6 0 0 -24 0 0 -20 0 0 0 0
Profit Before Tax 170 162 178 147 154 265 267 184 191 102 699 1180
Provision for Tax 45 47 51 39 7 29 42 41 42 19 139 239
Profit After Tax 125 115 127 108 146 237 225 143 149 83 560 941
Adjustments 0 0 0 0 0 0 0 0 0 0 0 -3
Profit After Adjustments 126 115 127 108 146 237 225 143 149 83 560 936
Adjusted Earnings Per Share 4.9 4.5 5 4.2 5.7 9.3 8.8 5.6 5.8 3.3 22 24.1

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 63% 45% 23% 17%
Operating Profit CAGR 444% 49% 22% 14%
PAT CAGR 575% 58% 19% 16%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 113% 105% 53% 31%
ROE Average 23% 11% 11% 10%
ROCE Average 28% 14% 13% 13%

Multi Commodity Exch Balance Sheet

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 1392 1482 1533 1561 1581 1769 1887 1944 2069 2159 2815
Minority's Interest 0 0 0 0 0 0 0 0 0 0 0
Borrowings 0 0 0 0 0 0 0 0 0 0 0
Other Non-Current Liabilities 606 639 712 735 781 814 809 802 847 916 1064
Total Current Liabilities 442 401 332 405 456 939 587 818 938 1184 1423
Total Liabilities 2440 2522 2577 2701 2818 3523 3284 3564 3855 4259 5301
Fixed Assets 143 137 152 156 158 158 159 156 150 379 412
Other Non-Current Assets 619 907 1515 1468 1440 1833 1967 1557 2038 2429 2228
Total Current Assets 1677 1479 910 1076 1220 1531 1157 1850 1667 1450 2662
Total Assets 2440 2522 2577 2701 2818 3523 3284 3564 3855 4259 5301

Multi Commodity Exch Cash Flow

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 53 35 21 4 47 108 407 30 137 181 180
Cash Flow from Operating Activities 70 78 -32 99 258 449 -184 391 141 442 950
Cash Flow from Investing Activities -68 -30 55 36 -93 -27 -39 -142 -8 -346 -751
Cash Flow from Financing Activities -19 -61 -40 -92 -105 -123 -154 -142 -89 -98 -40
Net Cash Inflow / Outflow -18 -14 -17 43 61 299 -377 107 44 -2 159
Closing Cash & Cash Equivalent 35 21 4 47 108 407 30 137 181 180 339

Multi Commodity Exch Ratios

# Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 4.93 4.5 4.96 4.25 5.73 9.27 8.83 5.63 5.84 3.26 21.96
CEPS(Rs) 5.94 5.46 5.69 4.9 6.34 9.99 9.7 6.52 6.69 4.67 24.46
DPS(Rs) 2 1.3 3 3.4 4 6 5.52 3.48 3.82 1.52 6
Book NAV/Share(Rs) 54.58 57.99 59.96 61.04 61.93 69.38 74.02 76.22 81.14 84.67 110.37
Core EBITDA Margin(%) 35.79 32.04 30.69 27.66 29.09 44.83 37.64 43.92 29.09 9.35 59.79
EBIT Margin(%) 77.21 68.94 68.59 56.66 51.23 66.74 68.35 50.24 37.15 14.96 62.9
Pre Tax Margin(%) 76.6 68.81 68.52 56.64 51.22 66.7 68.3 50.18 37.11 14.92 62.86
PAT Margin (%) 56.37 48.79 48.79 41.7 48.74 59.45 57.67 39.11 29.01 12.16 50.33
Cash Profit Margin (%) 68.02 59.26 55.95 48.11 53.89 64.01 63.31 45.3 33.21 17.42 56.06
ROA(%) 5.3 4.62 4.96 4.11 5.3 7.46 6.62 4.19 4.02 2.05 11.72
ROE(%) 9.26 7.99 8.42 7.02 9.33 14.13 12.32 7.49 7.42 3.93 22.52
ROCE(%) 12.68 11.27 11.81 9.52 9.78 15.85 14.6 9.62 9.51 4.84 28.14
Receivable days 16.11 11.53 4.93 6.41 7.49 5.72 7.21 10.16 9.28 20.53 14.93
Inventory Days 0 0 0 0 0 0 0 0 0 0 0
Payable days 0 0 0 0 0 0 0 0 0 0 0
PER(x) 45.54 37.16 48.49 31.49 28.13 24.38 34.25 50.26 51.9 205.48 48.36
Price/Book(x) 4.12 2.88 4.01 2.19 2.61 3.26 4.09 3.71 3.74 7.91 9.62
Dividend Yield(%) 0.89 0.78 1.25 2.54 2.48 2.65 1.82 1.23 1.26 0.23 0.56
EV/Net Sales(x) 24.55 16 23.59 12.9 11.93 12.58 18.66 17 12.76 23.57 22.63
EV/Core EBITDA(x) 27.62 19.56 31.14 20.46 18.6 17.65 25.23 27.26 30.16 115.33 33.07
Net Sales Growth(%) -34.69 5.59 10.43 0.15 15.47 32.6 -1.83 -6.08 39.99 33.11 62.78
EBIT Growth(%) -18.61 -5.72 9.88 -17.27 4.4 72.76 0.53 -30.96 3.52 -46.4 584.45
PAT Growth(%) -18.1 -8.6 10.44 -14.4 34.96 61.72 -4.77 -36.31 3.85 -44.21 573.85
EPS Growth(%) -17.89 -8.86 10.44 -14.4 34.96 61.72 -4.77 -36.31 3.85 -44.21 573.85
Debt/Equity(x) 0 0 0 0 0 0 0 0 0 0 0
Current Ratio(x) 3.8 3.68 2.74 2.66 2.67 1.63 1.97 2.26 1.78 1.23 1.87
Quick Ratio(x) 3.8 3.68 2.74 2.66 2.67 1.63 1.97 2.26 1.78 1.23 1.87
Interest Cover(x) 125.12 539.69 889.8 3680.5 0 1659.56 1404.95 767.88 908.48 378.7 1555.22
Total Debt/Mcap(x) 0 0 0 0 0 0 0 0 0 0 0

Multi Commodity Exch Shareholding Pattern

# Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Promoter 0 0 0 0 0 0 0 0 0 0
FII 25.31 26.61 23.22 20.69 22.03 23.07 21.81 21.69 19 20.64
DII 56.42 53.01 56.87 57.24 57.49 56.3 58.08 59.08 60.49 59.14
Public 18.26 20.38 19.91 22.07 20.48 20.62 20.11 19.24 20.51 20.22
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Multi Commodity Exch News

Multi Commodity Exch Pros & Cons

Pros

  • Company is almost debt free.

Cons

  • Promoter holding is low: 0%.
  • Company has a low return on equity of 11% over the last 3 years.
  • Stock is trading at 17.9 times its book value.
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