Multi Commodity Exchange of India Limited Share Price & Analysis
Price Chart
Fundamentals
Strengths
- Excellent return on equity (ROE 56.3%)
- Efficient capital deployment (ROCE 71.4%)
- Virtually debt-free
Concerns
- Premium to sector peers (P/E 50x vs industry 33.1x)
- High premium to book value (P/B 28.4x)
Today's Price Action
The stock closed at ₹3,180.6, unchanged from the prior session. Trading volume matched the 20‑day average at 10,09,425 shares, indicating a typical level of market participation.
Valuation Snapshot
The quotation carries a trailing P/E of 50, while the broader financial services sector shows a near‑zero average P/E, reflecting the exchange’s earnings profile rather than sector‑wide multiples. A P/B of 0 and a Return on Equity of 56.3 % highlight high profitability relative to the book capital base.
Key Levels to Watch
The price sits near the upper end of its 52‑week range, with the prior high recorded at ₹3,481 and the low at ₹1,761. Open‑interest data for the underlying futures contracts suggest near‑term support around ₹3,000 and resistance close to the historic high of ₹3,480.
Chart Pattern
In the daily candles over the last ten sessions, a bullish engulfing and a tweezer‑bottom appeared three days ago, while a hammer formed seven days ago. These patterns were observed on the daily timeframe and collectively illustrate short‑term reversal signals from recent lows.
Data Summary
Key metrics show a market‑price of ₹3,180.6, a P/E of 50, and an ROE of 56.3 %, with volume steady at the 20‑day average of 10,09,425 shares. The stock trades within its 52‑week corridor, bounded by ₹1,761 (low) and ₹3,481 (high).
Peer Comparison
| Company | CMP | Mkt Cap | P/E | P/B | ROE % | ROCE % | D/E |
|---|---|---|---|---|---|---|---|
| HDFCBANK HDFC Bank Limited | ₹685 | ₹10.7L Cr | 13.3 | 1.75 | 13.6 | 7.02 | — |
| ICICIBANK ICICI Bank Limited | ₹1,378 | ₹10.0L Cr | 17 | 2.55 | 15.9 | 7.18 | — |
| SBIN State Bank of India | ₹957 | ₹8.8L Cr | 10.5 | 1.42 | 15.4 | 6.13 | — |
| BAJFINANCE Bajaj Finance Limited | ₹917 | ₹5.8L Cr | 26.4 | 4.63 | 18.2 | 10.9 | — |
| LICI Life Insurance Corporation Of India | ₹391 | ₹4.8L Cr | 8.03 | 2.8 | 37.8 | 35.1 | 0 |
| KOTAKBANK Kotak Mahindra Bank Limited | ₹440 | ₹4.3L Cr | 20.2 | 2.24 | 11.4 | 6.98 | — |
| AXISBANK Axis Bank Limited | ₹1,220 | ₹3.8L Cr | 12.7 | 1.65 | 13.1 | 6.24 | — |
Showing 7 peers in the same sector · Sorted by market cap
Corporate Events
Dividend - Rs 8 Per Share
Face Value Split (Sub-Division) - From Rs 10/- Per Share To Rs 2/- Per Share
Dividend - Rs 30 Per Share
Dividend - Rs 7.64 Per Share
Dividend - Rs 19.09 Per Share
Latest News
All newsNSE's ₹4.45L Cr valuation pressures BSE
The NSE's successful market debut has intensified competitive pressure on BSE, with its ₹**4.45 lakh crore** valuation nearly doubling the combined worth of BSE, MCX, and IEX. Investors are reassessing BSE’s market relevance amid NSE’s dominant trading share and higher profitability. This valuation gap highlights structural shifts in India’s exchange landscape. 📊 *STOCKS:* BSE | 🏢 *SECTOR:* CapitalMarkets | #HIGHIMPACT #NSE
Gold prices rise in India, boosting safe-haven demand.
*Gold prices rise in India, according to FXStreet data.* The increase reflects growing safe-haven demand amid inflation concerns. Traders may see **higher volatility** in gold-linked ETFs and **MCX gold futures**. Rising gold could also impact import costs and trade deficit projections. 📊 *STOCKS:* | 🏢 *SECTOR:* Commodities | #MEDIUMIMPACT #Gold
Macquarie bullish on NSE, BSE, MCX ahead of IPO
*Macquarie initiates coverage on NSE with Outperform ahead of its IPO, calling it ‘The Dominator’.* The broker highlights **~90% market share** in equity derivatives and strong cash flows. It is also bullish on **BSE** and **MCX**, citing structural advantages. Valuations appear attractive given growth visibility. 📊 *STOCKS:* NSE | 🏢 *SECTOR:* CapitalMarkets | #MEDIUMIMPACT #IPO
Crude oil futures decline on weak global demand signals
*Crude oil futures decline on weak global demand signals.* Prices fell due to concerns over slowing global economic growth and lower industrial activity. **Crude futures dropped by **$3.20** to settle at **$84.50** per barrel** on the MCX. Traders should monitor energy sector stocks for volatility ahead of inventory data. 📊 *STOCKS:* | 🏢 *SECTOR:* Energy | #MEDIUMIMPACT #CrudeOil
NSE IPO to impact BSE, MCX, IEX trading
*NSE IPO to impact BSE, MCX, IEX trading* ahead of market debut. Traders are eyeing key support and resistance levels in BSE, MCX, and IEX shares. Target prices and stop-loss levels are being adjusted due to anticipated volatility. **₹500–600 crore** expected listing boost may influence sentiment. 📊 *STOCKS:* BSE, MCX, IEX | 🏢 *SECTOR:* CapitalMarkets | #MEDIUMIMPACT #IPO
Gold prices fall due to strong dollar and rising yields
*Gold prices declined today amid a stronger US dollar and rising US Treasury yields.* Persistent hawkish stance by the Fed dented non-yielding asset appeal. International spot gold fell to **$2,320/oz**, while MCX gold futures dropped to **₹72,400/10g**. This movement impacts inflation-linked trading strategies. 📊 *STOCKS:* | 🏢 *SECTOR:* Commodities | #MEDIUMIMPACT #Gold
Gold prices surge amid global uncertainty; traders eye dips
*Gold prices surge amid global uncertainty; traders eye dips* — Spot gold rose **2.3%** to **$2,340/oz**, nearing record highs as geopolitical tensions and weak dollar support rally. Analysts suggest **buying on dips** ahead of August 2026 outlook. Futures on MCX show strong open interest buildup. 📊 *STOCKS:* | 🏢 *SECTOR:* Commodities | #MEDIUMIMPACT #Gold
NSE seen as better diversified than BSE, MCX: Jefferies
*NSE seen as better diversified than BSE, MCX: Jefferies*\nBSE and MCX shares fell up to **4%** after Jefferies favored IPO-bound NSE due to superior diversification. The brokerage highlighted NSE's broader revenue streams and market dominance. This comparison triggered a sell-off in exchange peers.\n\n📊 *STOCKS:* BSE, MCX | 🏢 *SECTOR:* CapitalMarkets | #MEDIUMIMPACT #brokerage-view
MCX and BSE shares drop amid NSE IPO speculation
*MCX and BSE shares fall up to **5%** on speculation surrounding NSE's upcoming IPO.* The sell-off coincides with heightened investor interest in exchange listings. Traders may be reallocating focus to the anticipated NSE public offering. Weakness in peer exchanges could signal sentiment shifts in the capital markets space. 📊 *STOCKS:* MCX, BSE | 🏢 *SECTOR:* CapitalMarkets | #MEDIUMIMPACT #IPO
BSE, MCX shares drop 4% on Jefferies' NSE diversification call
*BSE, MCX shares drop 4% on Jefferies' NSE diversification call* — Jefferies downgraded BSE and MCX, citing the upcoming IPO of NSE as a more diversified exchange. The brokerage expects NSE to attract investor interest due to broader revenue streams. **4%** fall in share price reflects market realignment ahead of NSE's public listing. 📊 *STOCKS:* BSE | MCX | 🏢 *SECTOR:* CapitalMarkets | #MEDIUMIMPACT #IPO
Financials
Quarterly Results
| Metric | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 | Mar 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | ₹666 Cr 78.1% | ₹374 Cr 0.3% | ₹373 Cr 28.2% | ₹291 Cr 3.3% | ₹301 Cr 5.2% | ₹286 Cr 22.2% | ₹234 Cr 29.3% | ₹181 Cr |
| Op. Profit | ₹494 Cr 104.1% | ₹242 Cr 0.4% | ₹241 Cr 50.6% | ₹160 Cr 17.1% | ₹193 Cr 7.8% | ₹179 Cr 34.6% | ₹133 Cr 30.4% | ₹102 Cr |
| OPM | 74.0% 13.8% | 65.0% 0.0% | 65.0% 18.2% | 55.0% 14.1% | 64.0% 1.6% | 63.0% 10.5% | 57.0% 1.8% | 56.0% |
| Net Profit | ₹401 Cr 103.6% | ₹197 Cr 3.0% | ₹203 Cr 50.4% | ₹135 Cr 15.6% | ₹160 Cr 3.9% | ₹154 Cr 38.7% | ₹111 Cr 26.1% | ₹88 Cr |
| EPS (₹) | 15.73 103.2% | 7.74 2.9% | 7.97 50.1% | 5.31 15.4% | 6.28 4.3% | 6.02 38.4% | 4.35 26.1% | 3.45 |
Values in ₹ Cr · Source: Screener.in
Annual Profit & Loss
| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹2.3K Cr 106.8% | ₹1.1K Cr 62.7% | ₹684 Cr 33.1% | ₹514 Cr 40.1% | ₹367 Cr 6.1% | ₹391 Cr 1.8% | ₹398 Cr 32.7% | ₹300 Cr 15.4% | ₹260 Cr 0.4% | ₹259 Cr |
| Expenses | ₹660 Cr 47.7% | ₹447 Cr 28.0% | ₹621 Cr 68.3% | ₹369 Cr 79.1% | ₹206 Cr 0.5% | ₹205 Cr 6.4% | ₹219 Cr 6.3% | ₹206 Cr 12.0% | ₹184 Cr 2.2% | ₹180 Cr |
| Op. Profit | ₹1.6K Cr 146.9% | ₹665 Cr 955.6% | ₹63 Cr 56.6% | ₹145 Cr 9.9% | ₹161 Cr 13.0% | ₹185 Cr 3.9% | ₹178 Cr 89.4% | ₹94 Cr 23.7% | ₹76 Cr 5.0% | ₹80 Cr |
| OPM | 71.0% 18.3% | 60.0% 566.7% | 9.0% 67.9% | 28.0% 36.4% | 44.0% 6.4% | 47.0% 4.4% | 45.0% 45.2% | 31.0% 6.9% | 29.0% 6.5% | 31.0% |
| Other Income | ₹127 Cr 29.6% | ₹98 Cr 30.7% | ₹75 Cr 10.3% | ₹68 Cr 47.8% | ₹46 Cr 55.8% | ₹104 Cr 1.0% | ₹105 Cr 40.0% | ₹75 Cr 14.8% | ₹88 Cr 24.8% | ₹117 Cr |
| Interest | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Depreciation | ₹78 Cr 21.9% | ₹64 Cr 77.8% | ₹36 Cr 63.6% | ₹22 Cr 4.3% | ₹23 Cr 4.5% | ₹22 Cr 22.2% | ₹18 Cr 20.0% | ₹15 Cr 11.8% | ₹17 Cr 10.5% | ₹19 Cr |
| PBT | ₹1.7K Cr 141.8% | ₹699 Cr 585.3% | ₹102 Cr 46.6% | ₹191 Cr 3.8% | ₹184 Cr 31.1% | ₹267 Cr 0.8% | ₹265 Cr 72.1% | ₹154 Cr 4.8% | ₹147 Cr 17.4% | ₹178 Cr |
| Tax % | 21.0% 5.0% | 20.0% 11.1% | 18.0% 18.2% | 22.0% 0.0% | 22.0% 37.5% | 16.0% 45.5% | 11.0% 120.0% | 5.0% 80.8% | 26.0% 10.3% | 29.0% |
| Net Profit | ₹1.3K Cr 137.9% | ₹560 Cr 574.7% | ₹83 Cr 44.3% | ₹149 Cr 4.2% | ₹143 Cr 36.4% | ₹225 Cr 4.7% | ₹236 Cr 61.6% | ₹146 Cr 35.2% | ₹108 Cr 15.0% | ₹127 Cr |
| EPS (₹) | 52.22 137.8% | 21.96 573.6% | 3.26 44.2% | 5.84 3.7% | 5.63 36.2% | 8.83 4.7% | 9.27 61.8% | 5.73 34.8% | 4.25 14.3% | 4.96 |
| Div Payout | 15.0% 44.4% | 27.0% 42.6% | 47.0% 27.7% | 65.0% 4.8% | 62.0% 0.0% | 62.0% 4.6% | 65.0% 7.1% | 70.0% 12.5% | 80.0% 33.3% | 60.0% |
Values in ₹ Cr · Source: Screener.in
Balance Sheet
| Item | Sep 2025 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
Liabilities | ||||||||||
| Equity Capital | ₹51 Cr 0.0% | ₹51 Cr 0.0% | ₹51 Cr 0.0% | ₹51 Cr 0.0% | ₹51 Cr 0.0% | ₹51 Cr 0.0% | ₹51 Cr 0.0% | ₹51 Cr 0.0% | ₹51 Cr 0.0% | ₹51 Cr |
| Reserves | ₹2.0K Cr 11.1% | ₹1.8K Cr 38.1% | ₹1.3K Cr 7.1% | ₹1.4K Cr 4.5% | ₹1.4K Cr 0.0% | ₹1.4K Cr 4.5% | ₹1.3K Cr 9.0% | ₹1.2K Cr 9.7% | ₹1.3K Cr 1.4% | ₹1.3K Cr |
| Borrowings | ₹1 Cr 0.0% | ₹1 Cr 50.0% | ₹2 Cr 0.0% | ₹2 Cr 100.0% | ₹1 Cr 50.0% | ₹2 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other Liabilities | ₹3.2K Cr 30.3% | ₹2.4K Cr 20.3% | ₹2.0K Cr 31.6% | ₹1.5K Cr 11.6% | ₹1.4K Cr 27.6% | ₹1.1K Cr 21.2% | ₹1.4K Cr 66.7% | ₹825 Cr 40.8% | ₹586 Cr 15.6% | ₹507 Cr |
| Total Liabilities | ₹5.3K Cr 21.8% | ₹4.3K Cr 26.9% | ₹3.4K Cr 12.8% | ₹3.0K Cr 7.9% | ₹2.8K Cr 11.9% | ₹2.5K Cr 8.5% | ₹2.7K Cr 31.8% | ₹2.1K Cr 5.5% | ₹2.0K Cr 5.2% | ₹1.9K Cr |
Assets | ||||||||||
| Fixed Assets | ₹430 Cr 4.4% | ₹412 Cr 8.7% | ₹379 Cr 152.7% | ₹150 Cr 3.8% | ₹156 Cr 1.9% | ₹159 Cr 0.6% | ₹158 Cr 0.0% | ₹158 Cr 1.3% | ₹156 Cr 2.6% | ₹152 Cr |
| CWIP | ₹0 Cr 100.0% | ₹18 Cr 12.5% | ₹16 Cr 90.5% | ₹169 Cr 77.9% | ₹95 Cr 265.4% | ₹26 Cr 8.3% | ₹24 Cr 26.3% | ₹19 Cr 216.7% | ₹6 Cr | ₹0 Cr |
| Investments | ₹1.8K Cr 30.6% | ₹1.4K Cr 53.3% | ₹914 Cr 12.7% | ₹1.0K Cr 9.5% | ₹1.2K Cr 4.0% | ₹1.2K Cr 4.1% | ₹1.3K Cr 17.8% | ₹1.1K Cr 19.4% | ₹1.3K Cr 10.4% | ₹1.2K Cr |
| Other Assets | ₹3.0K Cr 20.5% | ₹2.5K Cr 18.8% | ₹2.1K Cr 26.7% | ₹1.7K Cr 19.1% | ₹1.4K Cr 25.2% | ₹1.1K Cr 14.2% | ₹1.3K Cr 55.8% | ₹832 Cr 72.6% | ₹482 Cr 7.1% | ₹519 Cr |
| Total Assets | ₹5.3K Cr 21.8% | ₹4.3K Cr 26.9% | ₹3.4K Cr 12.8% | ₹3.0K Cr 7.9% | ₹2.8K Cr 11.9% | ₹2.5K Cr 8.5% | ₹2.7K Cr 31.8% | ₹2.1K Cr 5.5% | ₹2.0K Cr 5.2% | ₹1.9K Cr |
Values in ₹ Cr · Source: Screener.in
Cash Flow Statement
| Item | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating CF | ₹950 Cr 114.9% | ₹442 Cr 213.5% | ₹141 Cr 63.9% | ₹391 Cr 312.5% | ₹-184 Cr 141.0% | ₹449 Cr 74.0% | ₹258 Cr 160.6% | ₹99 Cr 409.4% | ₹-32 Cr 141.0% | ₹78 Cr |
| Investing CF | ₹-751 Cr 117.1% | ₹-346 Cr 4225.0% | ₹-8 Cr 94.4% | ₹-142 Cr 264.1% | ₹-39 Cr 44.4% | ₹-27 Cr 71.0% | ₹-93 Cr 358.3% | ₹36 Cr 34.5% | ₹55 Cr 283.3% | ₹-30 Cr |
| Financing CF | ₹-40 Cr 59.2% | ₹-98 Cr 10.1% | ₹-89 Cr 37.3% | ₹-142 Cr 7.8% | ₹-154 Cr 25.2% | ₹-123 Cr 17.1% | ₹-105 Cr 14.1% | ₹-92 Cr 130.0% | ₹-40 Cr 34.4% | ₹-61 Cr |
| Net Cash Flow | ₹159 Cr 8050.0% | ₹-2 Cr 104.5% | ₹44 Cr 58.9% | ₹107 Cr 128.4% | ₹-377 Cr 226.1% | ₹299 Cr 390.2% | ₹61 Cr 41.9% | ₹43 Cr 352.9% | ₹-17 Cr 21.4% | ₹-14 Cr |
| Free Cash Flow | ₹854 Cr 185.6% | ₹299 Cr 327.1% | ₹70 Cr 77.4% | ₹310 Cr 250.5% | ₹-206 Cr 148.8% | ₹422 Cr 82.7% | ₹231 Cr 216.4% | ₹73 Cr 223.7% | ₹-59 Cr 203.5% | ₹57 Cr |
Values in ₹ Cr · Source: Screener.in
Key Ratios History
| Metric | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 9d 72.7% | 33d 230.0% | 10d 9.1% | 11d 37.5% | 8d 33.3% | 6d 14.3% | 7d 22.2% | 9d 125.0% | 4d 42.9% | 7d |
| Inventory Days | — | — | — | — | — | — | — | — | — | — |
| Days Payable | — | — | — | — | — | — | — | — | — | — |
| Cash Conv. Cycle | 9d 72.7% | 33d 230.0% | 10d 9.1% | 11d 37.5% | 8d 33.3% | 6d 14.3% | 7d 22.2% | 9d 125.0% | 4d 42.9% | 7d |
| Working Capital Days | -391d 27.6% | -540d 16.6% | -463d 29.2% | -654d 54.2% | -424d 44.3% | -761d 77.4% | -429d 6.2% | -404d 40.8% | -287d 35.7% | -446d |
| ROCE | 43.0% 514.3% | 7.0% 46.2% | 13.0% 7.1% | 14.0% 12.5% | 16.0% 6.7% | 15.0% 15.4% | 13.0% 62.5% | 8.0% 27.3% | 11.0% 10.0% | 10.0% |
Source: Screener.in · Lower days = better efficiency
Deep Dive Analysis
About Multi Commodity Exchange of India Limited
The MCX) commenced operation in Nov,03 is India’s first listed, national-level, electronic exchange, and India’s leading commodity derivatives exchange which offers the benefits of fair price discovery and price risk management to the Indian commodity market ecosystem. The Exchange operates under SEBI. [1]
Financial ServicesCapital Markets