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Multi Commodity Exchange of India share price & results

Multi Commodity Exchange of India Limited· Financial Services

Results to
Sept 2026
Latest analysed call
Q1 FY27
Ownership as of
Sept 2026

India's largest commodity derivatives exchange, trading futures & options in bullion, energy, metals and agri.

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Guidance Hit Rate
11 targets · 50% hit rate 2 achieved · 7 active →
Segment Shift
Sector & Mix Compare sector growth & peers →
Reverse DCF
Implied Growth Test priced-in growth in DCF tool →
Concall & Tone
Q1 FY27 analysed Read claims, qualifiers & Q&A →

Price & Snapshot

₹3,528 +4.81% · +₹162

Last close 6 Nov 2026 · NSE · INR · Source: Inve

Performance −62.2% 1Y

₹2k₹4k₹6k₹8k₹10kNov 25Dec 25Feb 26Mar 26May 26Jun 26Aug 26Sept 26Nov 26Q2 FY26 — 7 Nov 2025Q3 FY26 — 27 Jan 2026Q4 FY26 — 11 May 2026Q1 FY27 — 5 Aug 2026

1Y: ₹9,325.5 on 4 Nov 2025 → ₹3,528. High ₹11,052 (26 Dec 2025), low ₹2,177.8 (30 Dec 2025).

Previous close
₹3,366
Market cap
₹90.0k Cr
52-week range
₹2,177.8 – ₹11,052
One year
−61.86%
Price to earnings (TTM to Sept 2026)
50.01×
Return on equity (TTM to Sept 2026)
51.22%

Reported

The figures, each with its period

Each figure keeps its basis and period; nothing is filled in.

MetricValueChangeBasisPeriodNote
Revenue118 ₹ crore+218.9% YoYQuarterly, as filedQuarter to Sept 2026Revenue from operations as filed.
Operating margin67.0 %+10.0 pts YoYOperating profit / revenueQuarter to Sept 2026For the quarter; a change is in percentage points.
Net profit405 ₹ crore+159.6% YoYQuarterly, as filedQuarter to Sept 2026Profit after tax as filed.
Return on equity51.22 %+22.0 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM to Sept 2026Adjusted profit attributable to owners ÷ average owners’ equity.
Free cash flow marginUnavailable+33.0 ptsFY Mar 2025 vs FY Mar 2024Fiscal yearFY ending Mar 2026Not in the analysed materials. No older figure is substituted.
Revenue growth (YoY)128.30 %+44.1 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM to Sept 2026Revenue change against the same period one year earlier.

Source: Inve data from filed results; ratios from the Screener-verified panel · to Sept 2026

Guidance

What management said, and what became of it

2 of 4 judged targets kept · 7 open · verdicts reflect calls analysed to Q1 FY27.

Multi Commodity Exchange of India Limited management guidance track record on Inve: 11 targets tracked across analysed earnings calls (2 achieved, 2 missed, 7 open).

Delivering on Growth (1/1 achieved), while Operations (1 needs watch) is lagging.

TargetOriginal wordingSaidLatest callVerdict
Capex System Volume Capacitywell placed for at least 3x to 4x kind of a volume... intention to be ready for a 10x volume
Call transcript, Q3 FY26 · 27 Jan 2026		Q3 FY26Q1 FY27:Management confirms system has handled more than 3 billion transactions a day (up from <1bn a year ago) and has capacity for more than double that, validating the 3x-4x capacity claim.
Call transcript, Q1 FY27 · 5 Aug 2026		On Track
Growth Expense Ratiosexpect our ratios to stay flat
Call transcript, Q4 FY25 · 9 May 2025		Q4 FY25Q4 FY26:Full year FY26 results confirm massive operating leverage. Revenue more than doubled while EBITDA margin for the year was 77.1%, far exceeding the 'flat' expense ratio guidance.
Call transcript, Q4 FY26 · 11 May 2026		Achieved
Operations Tech CostINR 90-110 crores
Call transcript, Q4 FY25 · 9 May 2025		Q4 FY25Q4 FY26:No specific figure for FY26 technology cost was provided to verify against the INR 90-110 crores guidance. The fiscal year has concluded without a final number being reported.
Call transcript, Q4 FY26 · 11 May 2026		Ghosted

Source: Inve Guidance Tracker for Multi Commodity Exchange of India Limited · to Q1 FY27

A verdict describes what became of management’s own words in later analysed calls. “Delayed” is a change of date, “went quiet” a target the calls stopped mentioning. None of it is a judgement on the investment. The methodology sets out how verdicts are recorded.

2 of Multi Commodity Exchange of India Limited's 11 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 8 more targets are in the full ledger.

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Sector context

Sector call context

Shared sector pressures matched to this company’s latest reporting period.

Similar pressures reported by peers

Tailwind coverage is not available yet.

Similar commentary provides sector context; it does not establish a business relationship with Multi Commodity Exchange of India Limited. Each comparison matches a headwind disclosed by Multi Commodity Exchange of India Limited in the same calendar reporting quarter.

  • New RBI regulation on bank guarantees for proprietary trading could affect members' cost of…

    Topic: Regulatory compliance · Regulatory policy · Q1 FY27

    Multi Commodity Exchange of India Limited reported: New RBI regulation on bank guarantees for proprietary trading could affect members' cost of funds and volumes, though management expects industry adaptation.

    Reporting period ended 2026-06-30

    37 other companies · Regulatory policy

    State Bank of India (SBIN) reported (period ended 2026-06-30): Forex revenues dropped to ₹500 crore due to war-related volatility and new RBI guidelines limiting net open position to $100 million.

    BSE Limited (BSE) reported (period ended 2026-06-30): The STT hike and RBI circular have impacted overall market futures and options volumes, and the full effect of the RBI circular (especially on bank guarantees) is still unfolding, making it difficult to assess the long-term impact on BSE.

    Tata Capital Limited (TATACAP) reported (period ended 2026-06-30): Revised RBI guidelines on gold loans, but management states they are compliant and have planned products accordingly, leading to a more organized market.

    Muthoot Finance Limited (MUTHOOTFIN) reported (period ended 2026-06-30): New regulatory guidelines (75%, 80%, 85% LTV across life of loans) require staff and customer re-training for new products and payment frequencies.

    Evidence drawer

    Evidence type: Summary paraphrase

    New RBI regulation on bank guarantees for proprietary trading could affect members' cost of funds and volumes, though management expects industry adaptation.

    Source company: Multi Commodity Exchange of India Limited · Reporting period ended 2026-06-30 · Calendar quarter: Q1 FY27 · Distinct companies matched: 37

    Similar commentary provides sector context; it does not establish a business relationship.

  • Normalization of volatility post-Q4 FY26 led to a decline in premium ratios and a QoQ dip in…

    Topic: Raw material costs · Raw material cost · Q1 FY27

    Multi Commodity Exchange of India Limited reported: Normalization of volatility post-Q4 FY26 led to a decline in premium ratios and a QoQ dip in overall volumes, especially in crude oil options, but underlying fundamental growth is strong.

    Reporting period ended 2026-06-30

    9 other companies · Raw material cost

    HDFC AMC (HDFCAMC) reported (period ended 2026-06-30): Volatility in rupee, interest rates, crude oil prices, and global environment led to redemptions in debt funds.

    LIC Housing Finance Limited (LICHSGFIN) reported (period ended 2026-06-30): Potential upside risks to inflation from higher crude oil prices, though RBI is balancing inflation management with economic growth.

    PNB Housing (PNBHOUSING) reported (period ended 2026-06-30): Heightened global uncertainty from U.S.-Iran conflict, volatile crude oil prices, and uncertainty around monsoon led to a slightly more cautious growth outlook. RBI revised FY27 GDP growth forecast from 6.9% to 6.66%.

    The Karnataka Bank Limited (KTKBANK) reported (period ended 2026-06-30): Could impact economic activity and potentially deficient Southwest monsoon poses risk to agricultural demand.

    Evidence drawer

    Evidence type: Summary paraphrase

    Normalization of volatility post-Q4 FY26 led to a decline in premium ratios and a QoQ dip in overall volumes, especially in crude oil options, but underlying fundamental growth is strong.

    Source company: Multi Commodity Exchange of India Limited · Reporting period ended 2026-06-30 · Calendar quarter: Q1 FY27 · Distinct companies matched: 9

    Similar commentary provides sector context; it does not establish a business relationship.

From available earnings-call summaries. Disclosures are management statements, not independently verified transactions.

Live Summary

MCX ₹3,528 +4.81%
Guidance Verdict (11 tracked) 2 kept · 7 open· 2 missed
AI Call Brief · Q1 FY27

Multi Commodity Exchange of India Limited Q1 FY27

Overview

Symbol
NSE:MCX
Exchange
NSE
Currency
INR

What Multi Commodity Exchange of India Limited does

Based on the company's own presentations, annual report and earnings calls.

Multi Commodity Exchange of India Limited is India's first listed and largest commodity derivatives exchange, running an electronic trading platform for futures and options contracts on bullion, base metals, energy and agricultural commodities. It earns by charging trading/transaction fees to its member-brokers and by licensing its proprietary indices and derivative products. Its wholly-owned subsidiary, MCX Clearing Corporation Limited (MCXCCL), acts as the central counterparty that clears and settles every trade executed on the exchange, backed by empanelled clearing banks and a network of designated delivery warehouses. MCX has progressively converted base-metal contracts into compulsory-delivery contracts and keeps widening its product suite with new indices and derivative categories such as electricity futures.

Segments

  • Bullion
  • Energy
  • Base Metals
  • Agri Commodities
  • Index (Indices)
Trading members on the exchange
583
Authorized participants
32,044
Registered client base (Unique Client Codes, UCC)
4.65 crore
Clearing members (via subsidiary MCXCCL)
239
Clearing banks empanelled for funds settlement
10
Designated delivery warehouse locations
Thane, Raipur, Chennai, Kolkata, Palwal (NCR)
Founded 2002Headquarters Mumbai, Maharashtra, India Company website

How the price took the results

Moved an average of ±3.6% across the last 4 priced result releases

Close before → close after
QuarterReleaseRevenue (₹ Cr) Net profit (₹ Cr)Rev YoYBefore → AfterReaction
Q1 FY275 Aug 2691 327+35.8%₹2,680 → ₹2,598.6−3.0%
Q4 FY2611 May 26208 409+205.9%₹3,097.8 → ₹3,200.1+3.3%
Q3 FY2627 Jan 26125 307+78.6%₹2,282 → ₹2,418+6.0%
Q2 FY267 Nov 2537 156—₹9,250.5 → ₹9,430.5+1.9%

The move from the last close before each results date to the first close on or after it — the market's first read on the quarter alongside what was filed.

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PEER COMPARISON
Median ₹89,961 Cr Mkt Cap
₹0 Cr₹50,000 Cr₹1.0L Cr₹1.5L CrMulti Commodity Exchange of India Limited (MCX): ₹89,961 Cr₹89,961 CrMCXOne 97 (PAYTM): ₹1.0L Cr₹1.0L CrPAYTMSBIFUNDS (SBIFUNDS): ₹1.0L Cr₹1.0L CrSBIFUNDSI R F C (IRFC): ₹1.0L Cr₹1.0L CrIRFCHDFC AMC (HDFCAMC): ₹97,537 Cr₹97,537 CrHDFCAMCIDBI Bank (IDBI): ₹85,482 Cr₹85,482 CrIDBIThe Federal Bank Limited (FEDERALBNK): ₹85,166 Cr₹85,166 CrFEDERALBNKICICI Lombard General Insurance Company Limited (ICICIGI): ₹82,442 Cr₹82,442 CrICICIGIREC Ltd (RECLTD): ₹75,574 Cr₹75,574 CrRECLTD

All Financial Services companies → · Financial Services earnings growth →

Quick Answers

Frequently asked questions on Multi Commodity Exchange of India Limited

Compiled directly from MCX's filed financial statements, earnings call transcripts, and ownership disclosures.

How did Multi Commodity Exchange of India Limited (MCX) perform in its latest reported quarter (Sept 2026)?

For the quarter ended Sept 2026, Multi Commodity Exchange of India Limited reported revenue of ₹118 Cr, net profit of ₹405 Cr, an operating margin of 67.0%. Diluted earnings per share stood at ₹15.9.

How is Multi Commodity Exchange of India Limited (MCX) valued today, and what growth does the stock price imply?

Multi Commodity Exchange of India Limited (MCX) trades at ₹3,528, with a market capitalization of ₹90.0k Cr.

Who owns Multi Commodity Exchange of India Limited (MCX) — promoters, FIIs, DIIs, and mutual funds?

As of Sept 2026, FIIs hold 27.1%, DIIs hold 55.2%, Public shareholders hold 17.6%.

Learn to analyse Multi Commodity Exchange of India Limited

Guides on how to read this kind of business and the numbers that matter.