Multi Commodity Exchange of India Ltd
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]
- Market Cap ₹ 29,435 Cr.
- Current Price ₹ 5,772
- High / Low ₹ 6,037 / 2,072
- Stock P/E 169
- Book Value ₹ 270
- Dividend Yield 0.13 %
- ROCE 7.15 %
- ROE 5.82 %
- Face Value ₹ 10.0
Pros
- Company is almost debt free.
- Company is expected to give good quarter
- Company has been maintaining a healthy dividend payout of 58.0%
Cons
- Stock is trading at 21.4 times its book value
- Company has a low return on equity of 9.14% over last 3 years.
- Earnings include an other income of Rs.76.0 Cr.
- Debtor days have increased from 19.4 to 36.3 days.
* 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
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
524 | 341 | 222 | 235 | 259 | 260 | 300 | 398 | 391 | 367 | 514 | 684 | 772 | |
209 | 194 | 135 | 160 | 180 | 184 | 206 | 219 | 205 | 206 | 369 | 621 | 588 | |
Operating Profit | 315 | 146 | 88 | 75 | 80 | 76 | 94 | 178 | 185 | 161 | 145 | 63 | 184 |
OPM % | 60% | 43% | 39% | 32% | 31% | 29% | 31% | 45% | 47% | 44% | 28% | 9% | 24% |
121 | 99 | 110 | 111 | 117 | 88 | 75 | 105 | 104 | 46 | 68 | 75 | 76 | |
Interest | 0 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Depreciation | 31 | 34 | 26 | 25 | 19 | 17 | 15 | 18 | 22 | 23 | 22 | 36 | 45 |
Profit before tax | 406 | 210 | 170 | 162 | 178 | 147 | 154 | 265 | 267 | 184 | 191 | 102 | 215 |
Tax % | 26% | 27% | 26% | 29% | 29% | 26% | 5% | 11% | 16% | 22% | 22% | 18% | |
299 | 153 | 126 | 115 | 127 | 108 | 146 | 236 | 225 | 143 | 149 | 83 | 174 | |
EPS in Rs | 58.66 | 30.03 | 24.66 | 22.48 | 24.82 | 21.25 | 28.68 | 46.37 | 44.16 | 28.13 | 29.21 | 16.30 | 34.19 |
Dividend Payout % | 41% | 33% | 41% | 29% | 60% | 80% | 70% | 65% | 62% | 62% | 65% | 47% |
Compounded Sales Growth | |
---|---|
10 Years: | 7% |
5 Years: | 18% |
3 Years: | 21% |
TTM: | 40% |
Compounded Profit Growth | |
---|---|
10 Years: | -4% |
5 Years: | -12% |
3 Years: | -23% |
TTM: | 37% |
Stock Price CAGR | |
---|---|
10 Years: | 22% |
5 Years: | 42% |
3 Years: | 44% |
1 Year: | 178% |
Return on Equity | |
---|---|
10 Years: | 10% |
5 Years: | 11% |
3 Years: | 9% |
Last Year: | 6% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 51 | 51 | 51 | 51 | 51 | 51 | 51 | 51 | 51 | 51 | 51 | 51 |
Reserves | 1,105 | 1,095 | 1,154 | 1,242 | 1,311 | 1,329 | 1,200 | 1,308 | 1,367 | 1,367 | 1,428 | 1,327 |
0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 1 | 2 | 2 | |
631 | 598 | 622 | 568 | 507 | 586 | 825 | 1,375 | 1,083 | 1,382 | 1,542 | 2,029 | |
Total Liabilities | 1,787 | 1,743 | 1,827 | 1,862 | 1,869 | 1,966 | 2,075 | 2,735 | 2,503 | 2,801 | 3,023 | 3,409 |
203 | 173 | 143 | 137 | 152 | 156 | 158 | 158 | 159 | 156 | 150 | 379 | |
CWIP | 1 | 0 | 2 | 3 | 0 | 6 | 19 | 24 | 26 | 95 | 169 | 16 |
Investments | 1,070 | 1,092 | 1,295 | 1,114 | 1,198 | 1,322 | 1,066 | 1,256 | 1,205 | 1,157 | 1,047 | 914 |
513 | 478 | 387 | 607 | 519 | 482 | 832 | 1,296 | 1,112 | 1,392 | 1,658 | 2,100 | |
Total Assets | 1,787 | 1,743 | 1,827 | 1,862 | 1,869 | 1,966 | 2,075 | 2,735 | 2,503 | 2,801 | 3,023 | 3,409 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
53 | 38 | 70 | 78 | -32 | 99 | 258 | 449 | -184 | 391 | 141 | 521 | |
145 | 53 | -68 | -30 | 55 | 36 | -93 | -27 | -39 | -142 | -8 | -424 | |
-213 | -113 | -19 | -61 | -40 | -92 | -105 | -123 | -154 | -142 | -89 | -98 | |
Net Cash Flow | -16 | -22 | -18 | -14 | -17 | 43 | 61 | 299 | -377 | 107 | 44 | -2 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 5 | 10 | 17 | 7 | 4 | 9 | 7 | 6 | 8 | 11 | 10 | 36 |
Inventory Days | ||||||||||||
Days Payable | ||||||||||||
Cash Conversion Cycle | 5 | 10 | 17 | 7 | 4 | 9 | 7 | 6 | 8 | 11 | 10 | 36 |
Working Capital Days | -320 | -290 | -522 | -446 | -287 | -404 | -429 | -761 | -424 | -654 | -463 | -539 |
ROCE % | 33% | 14% | 10% | 10% | 11% | 8% | 13% | 15% | 16% | 14% | 13% | 7% |
Documents
Announcements
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Board Meeting Intimation for Considering And Approving The Un-Audited Financial Results (Standalone & Consolidated) Of The Company For The Quarter And Half Year Ended September 30, 2024.
3 Oct - Board meeting scheduled for October 19, 2024.
- Closure of Trading Window 30 Sep
- Shareholder Meeting / Postal Ballot-Outcome of AGM 27 Sep
- Shareholder Meeting / Postal Ballot-Scrutinizer''s Report 27 Sep
- Shareholder Meeting / Postal Ballot-Outcome of AGM 26 Sep
Annual reports
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Monopoly[1]
Co. has a 95.9% share in the Commodity future market in FY24. It controls a 100% share of Precious metals & stones, 99.61% in Energy & 99.80% in base metals with the exception of agri-commodities where it commands a share of 2.65%. 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 future market controls the rest 3.9% market share.