Multi Commodity Exchange of India Ltd

Multi Comm. Exc. Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Multi Commodity Exchange of India Ltd

₹ 3,792 -2.53%
19 Apr - close price
mcxindia.com BSE: 534091 NSE : MCX
About

The Multi Commodity Exchange of India Limited is India’s second listed exchange. It is a commodity derivatives exchange that facilitates online trading of commodity derivatives transactions, thereby providing a platform for price discovery and risk management. The Exchange, which started operations in November 2003, operates under the regulatory framework of Securities and Exchange Board of India (SEBI). [1]

Key Points

Monopoly[1][2]
Company has a 96.8% share in the commodity derivatives market as of Dec 2022. It controls a 100% share of Precious metals & stones, Energy & base metals with the exception of agri-commodities where it commands a share of 22.2%. Co. is the 7th largest by the number of Commodity Futures traded and the 6th largest by the number of Commodity Options.

The 2nd largest player NCDEX in the commodity exchange market controls the rest 3.1% market share.[3][1]

Website BSE NSE
  • Market Cap ₹ 19,340 Cr.
  • Current Price ₹ 3,792
  • High / Low ₹ 4,073 / 1,285
  • Stock P/E 8,954
  • Book Value ₹ 297
  • Dividend Yield 0.50 %
  • ROCE 10.9 %
  • ROE 8.24 %
  • Face Value ₹ 10.0
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Pros

  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 75.0%

Cons

  • Stock is trading at 12.8 times its book value
  • The company has delivered a poor sales growth of 11.6% over past five years.
  • Company has a low return on equity of 8.75% over last 3 years.
  • Earnings include an other income of Rs.84.3 Cr.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Financial Services Industry: Miscellaneous

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
89 86 78 75 81 96 99 113 123 114 127 140 163
51 53 50 48 50 53 60 63 97 110 114 160 209
Operating Profit 38 34 28 26 31 43 39 50 26 5 13 -20 -46
OPM % 43% 39% 36% 35% 38% 45% 40% 44% 21% 4% 10% -14% -28%
27 13 23 17 16 -4 10 20 21 22 21 21 20
Interest 0 0 0 0 0 0 0 0 0 0 0 0 0
Depreciation 6 6 7 6 7 3 5 6 4 6 4 6 11
Profit before tax 59 41 45 37 41 37 43 65 43 21 30 -5 -36
Tax % -7% 27% 26% 27% 27% 21% 25% 21% 21% 41% 19% -32% 25%
63 30 33 27 30 29 33 51 34 12 24 -7 -27
EPS in Rs 12.43 5.87 6.46 5.33 5.81 5.63 6.40 10.04 6.64 2.38 4.69 -1.33 -5.32
Raw PDF
Upcoming result date: 23 April 2024

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
545 524 341 222 235 259 260 298 370 345 330 449 544
193 209 194 135 160 180 186 206 225 204 201 329 593
Operating Profit 352 315 146 88 75 80 74 93 145 141 128 120 -48
OPM % 65% 60% 43% 39% 32% 31% 29% 31% 39% 41% 39% 27% -9%
71 120 99 110 111 116 86 63 111 111 53 72 84
Interest 0 0 1 1 0 0 0 0 0 0 0 0 0
Depreciation 27 31 34 26 25 19 17 15 18 22 22 20 27
Profit before tax 396 405 210 170 161 177 144 140 239 229 159 171 9
Tax % 28% 26% 27% 26% 29% 29% 26% 2% 13% 18% 25% 24%
286 299 153 125 114 126 106 136 209 188 118 130 2
EPS in Rs 56.12 58.56 29.95 24.52 22.31 24.76 20.85 26.77 40.89 36.83 23.23 25.46 0.42
Dividend Payout % 43% 41% 33% 41% 29% 61% 82% 75% 73% 75% 75% 75%
Compounded Sales Growth
10 Years: -2%
5 Years: 12%
3 Years: 7%
TTM: 26%
Compounded Profit Growth
10 Years: -7%
5 Years: 11%
3 Years: -5%
TTM: -99%
Stock Price CAGR
10 Years: 21%
5 Years: 37%
3 Years: 37%
1 Year: 160%
Return on Equity
10 Years: 9%
5 Years: 9%
3 Years: 9%
Last Year: 8%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 51 51 51 51 51 51 51 51 51 51 51 51 51
Reserves 946 1,104 1,093 1,151 1,239 1,308 1,325 1,412 1,496 1,529 1,504 1,545 1,462
0 0 0 0 0 0 0 0 0 2 1 2 2
877 631 597 622 568 507 585 161 220 205 255 260 388
Total Liabilities 1,874 1,786 1,742 1,824 1,858 1,866 1,961 1,624 1,767 1,787 1,811 1,857 1,903
188 203 173 143 137 152 156 157 157 158 153 145 304
CWIP 0 1 0 2 3 0 6 19 23 26 94 168 60
Investments 1,150 1,068 1,090 1,293 1,111 1,195 1,416 1,252 1,421 1,445 1,398 1,216 1,008
536 513 478 387 607 519 383 196 165 158 167 328 530
Total Assets 1,874 1,786 1,742 1,824 1,858 1,866 1,961 1,624 1,767 1,787 1,811 1,857 1,903

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
355 53 38 70 78 -32 102 -129 201 89 119 -64
-297 145 53 -68 -31 55 33 191 -78 63 23 151
-30 -213 -113 -19 -61 -40 -92 -105 -123 -154 -142 -89
Net Cash Flow 28 -16 -22 -18 -14 -17 43 -43 -1 -1 0 -2

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 33 5 10 17 7 4 9 11 7 12 15 9
Inventory Days
Days Payable
Cash Conversion Cycle 33 5 10 17 7 4 9 11 7 12 15 9
Working Capital Days -502 -320 -290 -522 -446 -287 -438 -40 -93 -69 -114 19
ROCE % 42% 33% 14% 10% 10% 11% 8% 11% 11% 12% 11% 11%

Shareholding Pattern

Numbers in percentages

4 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
36.48% 35.49% 32.49% 31.35% 26.52% 26.84% 23.45% 25.77% 26.95% 24.84% 25.31% 26.61%
40.92% 40.47% 45.41% 46.42% 48.33% 48.60% 50.61% 52.82% 52.70% 55.05% 56.43% 53.01%
22.41% 23.86% 21.91% 22.05% 24.96% 24.37% 25.75% 21.23% 20.16% 19.91% 18.09% 20.19%
0.19% 0.19% 0.19% 0.19% 0.19% 0.19% 0.19% 0.19% 0.19% 0.19% 0.19% 0.19%
No. of Shareholders 1,26,8751,44,8091,62,3202,04,1242,37,5922,35,6872,38,8911,97,6161,88,8681,79,9751,65,4461,73,682

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

Documents

Announcements

Annual reports

DRHP

Concalls