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

₹ 1,500 1.95%
29 Mar - close price
mcxindia.com BSE: 534091 NSE : MCX
About

The Multi Commodity Exchange of India Limited is India’s first 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 ₹ 7,645 Cr.
  • Current Price ₹ 1,500
  • High / Low ₹ 1,697 / 1,142
  • Stock P/E 38.9
  • Book Value ₹ 281
  • Dividend Yield 1.16 %
  • ROCE 10.6 %
  • ROE 8.10 %
  • Face Value ₹ 10.0
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Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company is expected to give good quarter
  • Company has been maintaining a healthy dividend payout of 63.0%

Cons

  • Stock is trading at 5.35 times its book value
  • The company has delivered a poor sales growth of 7.17% over past five years.
  • Company has a low return on equity of 11.6% over last 3 years.

* 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: Miscellaneous Industry: Miscellaneous

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
94 112 73 120 101 97 88 83 90 106 109 127 144
50 65 46 54 52 53 51 50 52 53 60 63 112
Operating Profit 44 48 27 66 49 44 37 33 38 53 49 64 32
OPM % 47% 42% 36% 55% 48% 46% 42% 40% 42% 50% 45% 50% 22%
19 23 50 18 25 11 21 16 15 -6 9 18 20
Interest -0 0 0 0 0 0 0 0 0 0 0 -0 0
Depreciation 4 6 5 5 6 6 7 7 7 3 6 6 4
Profit before tax 59 65 71 78 68 49 51 43 45 44 52 77 48
Tax % 5% -1% 21% 25% -6% 22% 23% 24% 24% 18% 20% 18% 19%
Net Profit 56 66 56 59 72 38 40 33 34 37 41 63 39
EPS in Rs 10.90 12.84 11.07 11.48 14.08 7.54 7.80 6.40 6.76 7.16 8.13 12.41 7.61
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
369 545 524 341 222 235 259 260 300 398 391 367 486
176 193 209 194 135 160 180 184 206 219 205 206 288
Operating Profit 193 352 315 146 88 75 80 76 94 178 185 161 198
OPM % 52% 65% 60% 43% 39% 32% 31% 29% 31% 45% 47% 44% 41%
77 72 121 99 110 111 117 88 75 105 104 46 42
Interest 0 -0 0 1 1 0 0 0 0 0 0 0 0
Depreciation 25 27 31 34 26 25 19 17 15 18 22 23 19
Profit before tax 246 396 406 210 170 162 178 147 154 265 267 184 221
Tax % 30% 28% 26% 27% 26% 29% 29% 26% 5% 11% 16% 22%
Net Profit 173 287 299 153 126 115 127 108 146 236 225 143 180
EPS in Rs 33.99 56.22 58.66 30.03 24.66 22.48 24.82 21.25 28.68 46.37 44.16 28.13 35.31
Dividend Payout % 15% 42% 41% 33% 41% 29% 60% 80% 70% 65% 62% 62%
Compounded Sales Growth
10 Years: -4%
5 Years: 7%
3 Years: 7%
TTM: 36%
Compounded Profit Growth
10 Years: -9%
5 Years: 1%
3 Years: -10%
TTM: 35%
Stock Price CAGR
10 Years: 6%
5 Years: 18%
3 Years: 13%
1 Year: 6%
Return on Equity
10 Years: 11%
5 Years: 10%
3 Years: 12%
Last Year: 8%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
51 51 51 51 51 51 51 51 51 51 51 51 51
Reserves 796 947 1,105 1,095 1,154 1,242 1,311 1,329 1,200 1,308 1,367 1,367 1,380
-0 -0 -0 -0 -0 -0 -0 -0 -0 -0 2 1 1
654 877 631 598 622 568 507 586 825 1,375 1,083 1,382 2,049
Total Liabilities 1,501 1,875 1,787 1,743 1,827 1,862 1,869 1,966 2,075 2,735 2,503 2,801 3,481
195 188 203 173 143 137 152 156 158 158 159 156 224
CWIP -0 0 1 0 2 3 0 6 19 24 26 95 49
Investments 824 1,151 1,070 1,092 1,295 1,114 1,198 1,322 1,066 1,256 1,205 1,157 1,231
482 536 513 478 387 607 519 482 832 1,296 1,112 1,392 1,977
Total Assets 1,501 1,875 1,787 1,743 1,827 1,862 1,869 1,966 2,075 2,735 2,503 2,801 3,481

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
270 355 53 38 70 78 -32 99 258 449 -184 391
-233 -297 145 53 -68 -30 55 36 -93 -27 -39 -142
-24 -30 -213 -113 -19 -61 -40 -92 -105 -123 -154 -142
Net Cash Flow 13 28 -16 -22 -18 -14 -17 43 61 299 -377 107

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 48 33 5 10 17 7 4 9 7 6 8 11
Inventory Days
Days Payable
Cash Conversion Cycle 48 33 5 10 17 7 4 9 7 6 8 11
Working Capital Days -526 -504 -320 -290 -522 -446 -287 -404 -429 -761 -424 -654
ROCE % 31% 42% 33% 14% 10% 10% 11% 8% 13% 15% 16% 11%

Shareholding Pattern

Numbers in percentages

1 recently
Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
32.57 36.43 36.96 37.31 36.48 35.49 32.49 31.35 26.52 26.84 23.45 25.77
39.32 41.08 41.02 40.26 40.92 40.47 45.41 46.42 48.33 48.60 50.61 52.82
27.92 22.30 21.83 22.24 22.41 23.86 21.91 22.05 24.96 24.37 25.75 21.23
0.19 0.19 0.19 0.19 0.19 0.19 0.19 0.19 0.19 0.19 0.19 0.19

* 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