Multi Commodity Exchange of India Ltd
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]
- 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
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
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
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% |
Documents
Announcements
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome 28 Feb
- Audio Recording Of Meeting With Investors / Analysts Held On 22Nd February 2023 Uploaded On Company Website 22 Feb
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome 21 Feb
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome 20 Feb
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 20 Feb
Annual reports
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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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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Concalls
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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]