MCX · NSE · Exchange and Data Platform
Multi Commodity Exchange of India Ltd
What the numbers mean, from its filings and the exchange. Data as of 12 Oct 2026.
Mid Cap · AMFI list Jan-Jun 2026 · Vendor sector: Financial Services
dear
low confidence
No valuation within 120 days; P/E 54.9 vs peers 33.3 (11th of 13); P/B 21.6 vs peers 11.2 (10th of 12).
Statements through FY2026Prices adjusted for corporate actionsNot yet reviewed by the adversarial model
What is Multi Commodity Exchange of India's share price today?
Multi Commodity Exchange of India last traded at ₹3,390.00 on the NSE, as of 12 Oct 2026, 11:00 pm IST, up 2.2% on the day, up 85.6% over a year. Its 52-week range is ₹1,626 to ₹3,481. The live price is in the app.
₹3,390.00
+2.2% today
+85.6% over 1 year · NSE, as of 12 Oct 2026, 11:00 pm IST
60 month-end closes, 31 Oct 2021 to 30 Sep 2026, adjusted for splits and bonuses
52-week range95% of the way up
Low ₹1,626High ₹3,481
What is Multi Commodity Exchange of India's market cap?
Multi Commodity Exchange of India's market capitalisation is about ₹84,611 crore: what it would cost to buy every share at today's price. That makes it the 32nd largest mid cap company we cover.
₹84,611 Cr
Mid Cap32nd largest mid cap company
Share price₹3,390
×
Shares in issue25 crore
=
Market cap₹84,611 Cr
Mid Cap means the companies ranked 101 to 250 by size, under SEBI's rules. Shares in issue are worked out from the market cap and the price. What market cap tells you →
Key facts
From the exchange
- Symbol
- NSE: MCX
- ISIN
- INE745G01043
- Cap bucket
- Mid Cap, 32nd largest by market cap
- Industry (NSE)
- Financial Services › Capital Markets › Exchange and Data Platform
- Listed since
- 2012
- Futures and options
- Traded
Is Multi Commodity Exchange of India overvalued?
Dear, with low confidence: no valuation within 120 days; P/E 54.9 vs peers 33.3 (11th of 13); P/B 21.6 vs peers 11.2 (10th of 12).
Valuation
Latest price and trailing 12 months
P/E
54.88
vs peers 33.3 · 11th of 13
Price divided by last year's earnings per share: how many years of today's profit you pay for. Learn more →
P/B
21.64
vs peers 11.2 · 10th of 12
Price divided by book value per share: what you pay for each rupee of net assets on the balance sheet. Learn more →
Market cap
₹84,611 Cr
Total market value of all shares, in ₹ crore. Learn more →
Dividend yield
0.3%
vs peers 1.3% · 10th of 10
Last year's dividends as a share of today's price. Learn more →
PEG (vendor)
1.57
vs peers 8.5 · 2nd of 9
P/E divided by the vendor's earnings growth figure, which it does not disclose; a P/E adjusted for how fast profits grow. Learn more →
PEG on our 3-year EPS growth
0.51
P/E divided by the 3-year EPS growth rate from the stored accounts. Learn more →
Is Multi Commodity Exchange of India a quality business?
CLEAN on 9 of 22 lender flags judged.
Quality and risk
Data as of 12 Oct 2026
Business quality
Not available
The kind of business, which sets the yardstick it is judged by. Learn more →
Quality score
Not available
Returns, margins, leverage and consistency against its peers, out of 100. Learn more →
Risk level
CLEAN
9 of 22 lender flags judged
From flags on debt, earnings quality, dilution and price swings. Learn more →
Lender scorecard
Statements through FY2026 (Mar-26)
Basis: consolidated accounts, FY2026 (Mar-26) against FY2025; Tickertape, the Q4 results filing; cost to income is operating expenses over net interest income plus other income; ROA over average total assets; ROE over average equity; not a lender: no NIM, asset quality, credit cost or loan growth
Net interest margin
Not available
What a lender earns on its loans and investments less what it pays for deposits and borrowings, as a share of the assets that earn interest (or of all assets where the split is not filed). Learn more →
Gross NPA
Not available
Loans on which repayment has stopped, as a share of all loans, before any provision against them; from the latest results filing. Learn more →
Net NPA
Not available
Bad loans after the provisions already set aside against them, as a share of loans. Learn more →
Provision coverage
Not available
How much of the gross bad loans has already been provided for. Learn more →
Credit cost
Not available
The year's provisions for bad loans as a share of the average loan book. Learn more →
Cost to income
21.6%
vs peers 45.6% · 2nd of 13
Operating expenses (staff, branches, technology) over net interest income plus other income. Learn more →
Return on assets
22.5%
vs peers 20.9% · 7th of 14
Profit as a share of average total assets. Learn more →
CET1 ratio
Not available
Common equity tier 1 capital, the hardest kind, against risk-weighted assets; from the latest results filing. Learn more →
Loan growth YoY
Not available
Growth in the loan book over the latest fiscal year. Learn more →
Deposit growth YoY
Not available
Growth in deposits over the latest fiscal year. Learn more →
CASA ratio
Not available
Current and savings account balances as a share of all deposits. Learn more →
Inside the app
Get a sneak peek of Valarth
Has Multi Commodity Exchange of India made money for shareholders?
Yes: +85.6% over one year and +58.3% a year over five years.
Shareholder returns
5-year return
+58.3% a year
Price only
Yearly average price return over five years, bonuses and splits adjusted. Learn more →
Wealth destroyer
No
Five-year total return — price CAGR on bonus- and split-adjusted closes plus the dividend yield — below the 7% a bank fixed deposit paid. Learn more →
Returns
3Y and 5Y are yearly averages
1W
+4.3%1M
+4.6%3M
+19.3%6M
+20.0%1Y
+85.6%3Y
+92.0%5Y
+58.3%Does Multi Commodity Exchange of India pay a dividend?
Yes. Multi Commodity Exchange of India's dividend yield is 0.33% at the latest price; the last payout was ₹8.00 a share, ex-dividend 28 Aug 2026.
Dividends
Per share, by ex-dividend date
Dividend yield0.33%
The past 12 months' dividends as a share of today's price.
28 Aug 2026 · Final₹8.00
8 Aug 2025 · Final₹6.00
19 Sep 2024 · Final₹1.53
15 Sep 2023 · Final₹3.82
19 Sep 2022 · Final₹3.48
Payout ratio🔒 In the app
The share of profit paid out as dividends; a very high share leaves little to reinvest.
Dividend growth, 5 years🔒 In the app
How fast the dividend per share has grown a year.
Years without a miss🔒 In the app
How many years in a row a dividend has been paid.
Is Multi Commodity Exchange of India growing?
Revenue 3 years 61.1% a year; eps 3 years 107.5% a year; revenue 5 years 45.0% a year.
Growth
Statements through FY2026 (Mar-26)
Loan growth
Not available
Growth in the loan book over the latest fiscal year. Learn more →
Deposit growth
Not available
Growth in deposits over the latest fiscal year. Learn more →
Revenue 3 years
61.1% a year
vs peers 27.9% · 2nd of 14
Compound annual growth of revenue over three years. Learn more →
EPS 3 years
107.5% a year
Growth in earnings per share, so dilution counts against the company. Learn more →
Revenue 5 years
45.0% a year
Compound annual growth of revenue over five years. Learn more →
EPS 5 years
42.7% a year
Growth in earnings per share over five years, so dilution counts against the company. Learn more →
How did Multi Commodity Exchange of India do last quarter?
Multi Commodity Exchange of India reported income of ₹702 Cr, up 106.9% on a year earlier and a net profit of ₹413 Cr, up 137.8% in the Jun 2026 quarter.
Latest quarter
Jun 2026
Income, latest quarter₹702 Cr
+106.9% on a year earlier
What the company took in over the quarter.
Net profit, latest quarter₹413 Cr
+137.8% on a year earlier
What was left for shareholders after every cost and tax.
How does Multi Commodity Exchange of India compare with its peers?
Compared with 13 Capital Markets (the industry, as the basic industry was too small); 11th of 13 on P/E.
Compared with 13 Capital Markets (the industry, as the basic industry was too small)
13 companies
- Multi Commodity Exchange of India Ltd (this page)
- ICICI Prudential Asset Management Co Ltd
- BSE Ltd
- Billionbrains Garage Ventures Ltd
- SBI Funds Management Ltd
- HDFC Asset Management Company Ltd
- Nippon Life India Asset Management Ltd
- Motilal Oswal Financial Services Ltd
- 360 ONE WAM Ltd
- Anand Rathi Wealth Ltd
- Nuvama Wealth Management Ltd
- Aditya Birla Sun Life AMC Ltd
- Angel One Ltd
- Central Depository Services (India) Ltd
Multi Commodity Exchange of India against its peers
Largest 10 of 13 peers, by market cap
CompanyMarket capP/EP/BROE1YQuality 🔒Rank 🔒
Multi Commodity Exchange of India Ltd₹84,611 Cr54.921.643.4%+85.6%
SBI Funds Management Ltd₹1.0 L Cr——43.0%−18.0%
Motilal Oswal Financial Services Ltd₹61,865 Cr31.24.812.2%+2.2%
360 ONE WAM Ltd₹42,749 Cr33.75.76.1%−4.8%
Peer median—33.311.232.9%+17.2%
Market cap in rupees crore; P/E and P/B on the latest price; 1Y is the price return over a year. A dash is a figure that does not apply or is not reported.
Who owns Multi Commodity Exchange of India?
Multi Commodity Exchange of India has no promoter holding; it is widely held.
Shareholding pattern
Latest filing, percent of shares
Promoters0.0%
The founders and controlling group.
Foreign institutions29.8%
Overseas funds investing through the FPI route.
Domestic institutions50.8%
Indian insurers, banks, pension and mutual funds together.
Mutual funds30.1%
Indian mutual fund schemes; part of domestic institutions.
Retail and others15.2%
Individual investors and everyone else.
Promoter shares pledged🔒 In the app
Promoter shares given as collateral for loans; a high share is a risk to watch.
Holding trend🔒 In the app
Whether promoters, foreign funds and mutual funds have been adding or selling over recent quarters.
What do analysts say about Multi Commodity Exchange of India?
16 analysts cover Multi Commodity Exchange of India, and the consensus is buy. A consensus is a count of opinions, not a forecast; read it beside the numbers.
Analyst consensus
16 analysts
ConsensusBuy
The rating most covering analysts give the share.
Average target price🔒 In the app
The mean of the analysts' 12-month price targets.
Upside to target🔒 In the app
How far the target sits above or below today's price.
Share rating it a buy🔒 In the app
The share of covering analysts with a buy rating.
What does Multi Commodity Exchange of India do and what is it sensitive to?
MCX is a commodity derivatives exchange that provides a trading, clearing and risk-management platform for members and their clients. Sensitive to: commodity prices.
Business-model card
FY2025 · 41 verified
4Revenue
3Channels
1Regulators
4Reg. dependencies
5Sensitivities
5Costs
2Geographies
MCX is a commodity derivatives exchange that provides a trading, clearing and risk-management platform for members and their clients. It earns mainly transaction fees on traded volume, with a smaller share from investment income on surplus funds.
Revenue engine
4 verified
Transaction fees on commodity derivatives trades (95.0%)
Transaction fee is charged on the volume of trades entered into by a member or the member's client through the Exchange. Interpretation: revenue rises and falls with traded volume and with the value of traded contracts.
Transaction fee revenue amount
Transaction fee revenue in FY2025 was reported as Rs 96,180 lakh, against Rs 55,971 lakh in the previous year.
Administration of Financial Markets (NIC 6611) (91.0%)
The filing lists this as the product/service sold, accounting for 91% of turnover.
1 more statement
Investment income on surplus funds
Income from deploying surplus funds in fixed deposits, debt schemes, government securities and similar assets, including fair valuation gains on mutual funds. Interpretation: it moves with interest rates and portfolio size.
Customers & channels
3 verified
Members and their clients
Members trade on the platform and their clients trade through them. Members are the direct customers, and clients reach the Exchange through members.
Commodity value chain hedgers, financial institutions and FPIs
The excerpt lists participant types that trade on the platform, including hedgers from the commodity value chain, financial institutions and foreign portfolio investors.
Concentration in a few large Members
Interpretation: a few large members drive much of the volume in many contracts, so losing one could materially reduce volumes.
Regulators
1 verified
SEBI
Issues the licences under which MCX introduces commodity derivatives contracts, and sets the settlement guarantee fund contribution rules.
Regulatory dependencies
4 verified
Commodity Transaction Tax (CTT)
A new tax, a tax increase or extended coverage can reduce trading volumes and therefore transaction-fee revenue. The filing says the 2013 imposition had a major negative effect on volumes.
Settlement guarantee fund contribution amounts set by SEBI
If SEBI changes the required contributions, the Group's cash outflow rises, with a possible effect on its financial ability. Interpretation: this is a capital and cost lever.
Compliance and regulatory cost
Changes in laws or new rules can raise compliance headcount and operating expenses, and can force changes to business strategy at significant cost.
1 more statement
SEBI notices and exchange regulatory fees
The filing shows a separate expense line for SEBI exchange regulatory fees and a provision for SEBI notices, so regulatory charges appear directly in the cost base.
Sensitivities
5 verified
Commodity prices
Direction: low or depressed prices reduce revenue. Interpretation: revenue is tied to the value of traded contracts, so falling prices reduce it.
Interest rates
Direction: a rate cut reduces treasury (investment) income. The filing says the repo rate was cut by 25 basis points twice in 2024-25.
US tariffs and trade tensions
Direction: trade disruption lowers transaction volumes and participation on the exchange platform.
2 more statements
Domestic growth and monsoon
Direction: strong demand and a favourable monsoon support economic momentum, which the filing links to commodity market activity. Interpretation: higher activity supports volumes.
Mirror products by competitors
Direction: competitor exchanges launching near-identical contracts can fragment liquidity and erode share and margins.
Cost inputs
5 verified
Product license fees
Licence fees are a separate cost line in the consolidated accounts. The supplier is not named in the excerpt.
Software support and communication charges
IT and related expense, falling from Rs 38,507 lakh to Rs 9,270 lakh as stated in the table.
Clearing and settlement expenses
Interpretation: these costs move with transaction fee volume. The filing says RPT purchases increased because clearing and settlement expenses rose with transaction fees.
2 more statements
Contribution to Settlement Guarantee Fund
A statutory contribution line recorded as Rs 4,809 lakh in FY2025, a cost that the regulator can change.
Salaries and wages
Staff cost line in the consolidated accounts, rising to Rs 13,521 lakh from Rs 10,360 lakh.
Geographies
2 verified
India, domestic market only
The company serves only the domestic Indian market and reports no geographical segment.
Pan-India network
Operations and offices across the country, with 11 offices nationally and no international locations.
Each statement is checked word for word against the FY2025 annual report; the passages are in the app.
What changed recently?
Q1 FY2027 results filed (4 Aug 2026).
Change log
8 entries · newest first
- Results filedQ1 FY2027 results filed.
- Results filedQ4 FY2026 results filed.
- Results filedQ3 FY2026 results filed.
- Results filedFirst Half FY2026 results filed.
- Results filedQ1 FY2026 results filed.
- Results filedQ4 FY2025 results filed.
- Results filedQ3 FY2025 results filed.
- Results filedQ2 FY2025 results filed.
Get alerts →Sign in to be told when any of these change.
What this page does not tell you
What could not be judged, and why. Never empty.
- Models not runFair value, EPV, Graham number, Graham value, Lynch, Owner earnings: no valuation stored.
- FlagsCLEAN on 9 of 22 lender flags judged; no red flag; 13 could not be judged.
- Data gapsBusiness quality, Quality score, Net interest margin, Gross NPA, Net NPA, Provision coverage and 7 more: not available yet.
Not applicable to a bank, lender or insurer · 12
- Altman ZAltman Z reads working capital and sales over assets, which a lender's balance sheet does not have.
- Piotroski F-scorePiotroski's leverage and liquidity checks read deposits and borrowings as weakness.
- Beneish M-scoreThe Beneish model reads receivables, margins and depreciation that a lender's accounts do not report.
- Operating marginInterest is a lender's cost of goods, so operating profit before interest is not defined.
- Interest coverageInterest is a lender's main cost, not a charge on operating profit.
- Debt to equityBorrowings and deposits are a lender's raw material; gearing is judged by capital adequacy instead.
- EV/EBITDAEnterprise value adds borrowings to market cap; for a lender borrowings are the business, not a claim on it.
- FCF yieldOperating cash flow less capex is not free cash flow for a lender: loan growth sits in operating cash flow.
- Cash conversion cycleA lender's receivables are its loan book, not invoices waiting to be paid.
- Asset turnoverA lender earns a spread on its assets, not a turnover of them.
- ROCEEBIT over capital employed reads a lender's interest income against its borrowings; return on assets and return on equity are the lender's measures.
- ROCE, 10-year averageEBIT over capital employed reads a lender's interest income against its borrowings; return on assets is the lender's measure (HDFC Bank's 1.7% ten-year ROCE means nothing).
What this page rests on
✓10 years of annual statements, through FY2026 (Mar-26)✓10 quarters of results✓175 months of month-end prices, adjusted for bonuses and splits○no valuation of ours yet✓business-model card FY2025 · 41 verified
Questions people ask
What is Multi Commodity Exchange of India's share price today?
Multi Commodity Exchange of India last traded at ₹3,390.00 on the NSE, as of 12 Oct 2026, 11:00 pm IST, up 2.2% on the day, up 85.6% over a year. Its 52-week range is ₹1,626 to ₹3,481. The live price is in the app.
What is Multi Commodity Exchange of India's market cap?
Multi Commodity Exchange of India's market capitalisation is about ₹84,611 crore: what it would cost to buy every share at today's price. That makes it the 32nd largest mid cap company we cover.
Is Multi Commodity Exchange of India Ltd a large cap, mid cap or small cap?
Multi Commodity Exchange of India Ltd (MCX) is a mid cap company in AMFI's classification for Jan-Jun 2026. SEBI's buckets go by rank on six-month average market capitalisation: the top 100 are large caps, 101 to 250 mid caps, the rest small caps.
What is Multi Commodity Exchange of India Ltd's P/E ratio?
54.88, vs peers 33.3 · 11th of 13. Price divided by last year's earnings per share: how many years of today's profit you pay for.
Is Multi Commodity Exchange of India Ltd overvalued?
Dear, with low confidence: no valuation within 120 days; P/E 54.9 vs peers 33.3 (11th of 13); P/B 21.6 vs peers 11.2 (10th of 12).
How does Multi Commodity Exchange of India Ltd make money?
MCX is a commodity derivatives exchange that provides a trading, clearing and risk-management platform for members and their clients. It earns mainly transaction fees on traded volume, with a smaller share from investment income on surplus funds.
Why is there no Altman Z or debt to equity for Multi Commodity Exchange of India?
Borrowing is a bank's or lender's raw material, so those ratios mislead. Net interest margin, gross NPA, return on assets and the capital ratios are shown instead.
Who are Multi Commodity Exchange of India Ltd's peers?
Compared with 13 Capital Markets (the industry, as the basic industry was too small): ICICI Prudential Asset Management Co Ltd, BSE Ltd, Billionbrains Garage Ventures Ltd, SBI Funds Management Ltd, HDFC Asset Management Company Ltd and 8 more. The app shows how they compare on every figure.
Is this investment advice?
No. Valarth is a research and learning tool and is not a SEBI-registered investment adviser or research analyst. The figures come from the company's filings and the exchanges; what to do with them is your call.
How did Multi Commodity Exchange of India do last quarter?
Multi Commodity Exchange of India reported income of ₹702 Cr, up 106.9% on a year earlier and a net profit of ₹413 Cr, up 137.8% in the Jun 2026 quarter.
Who owns Multi Commodity Exchange of India?
Multi Commodity Exchange of India has no promoter holding; it is widely held.
Does Multi Commodity Exchange of India pay a dividend?
Yes. Multi Commodity Exchange of India's dividend yield is 0.33% at the latest price; the last payout was ₹8.00 a share, ex-dividend 28 Aug 2026.
What do analysts say about Multi Commodity Exchange of India?
16 analysts cover Multi Commodity Exchange of India, and the consensus is buy. A consensus is a count of opinions, not a forecast; read it beside the numbers.