Multi Commodity Exchange of India Ltd
NSE:MCX

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Multi Commodity Exchange of India Ltd Logo
Multi Commodity Exchange of India Ltd
NSE:MCX
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Price: 6 196 INR 0.03% Market Closed
Market Cap: 316B INR
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Intrinsic Value

The intrinsic value of one MCX stock under the Base Case scenario is 3 269.8 INR. Compared to the current market price of 6 196 INR, Multi Commodity Exchange of India Ltd is Overvalued by 47%.

The Intrinsic Value is calculated as the average of DCF and Relative values:

MCX Intrinsic Value
3 269.8 INR
Overvaluation 47%
Intrinsic Value
Price
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Multi Commodity Exchange of India Ltd

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Backtest Conclusion
Very Attractive
Current Valuation
+45%
Avg Valuation
-12%
Worst Valuation
-49%
Best Valuation
+45%

Stock is trading at its lowest valuation over the past 5 years.

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Fundamental Analysis

Economic Moat
Multi Commodity Exchange of India Ltd

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Financials
Annual
Quarterly
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TTM

Balance Sheet Decomposition
Multi Commodity Exchange of India Ltd

Current Assets 26.9B
Cash & Short-Term Investments 26.2B
Receivables 318.1m
Other Current Assets 356.8m
Non-Current Assets 17.2B
Long-Term Investments 7.5B
PP&E 2.1B
Intangibles 2.2B
Other Non-Current Assets 5.4B
Current Liabilities 18.9B
Accounts Payable 1B
Other Current Liabilities 17.8B
Non-Current Liabilities 760m
Long-Term Debt 6m
Other Non-Current Liabilities 754m
Efficiency

Earnings Waterfall
Multi Commodity Exchange of India Ltd

Revenue
8.9B INR
Cost of Revenue
-2B INR
Gross Profit
7B INR
Operating Expenses
-3.5B INR
Operating Income
3.4B INR
Other Expenses
52.3m INR
Net Income
3.5B INR

Free Cash Flow Analysis
Multi Commodity Exchange of India Ltd

Last Value
3-Years Average
FCF Margin
Conversion Rate
Earnings Calls

In Q2 FY25, the Multi Commodity Exchange (MCX) reported a strong performance, with a 73% year-over-year increase in operational revenue, reaching INR 285.58 crores, and a 39% sequential growth in PAT to INR 153.62 crores. Average daily turnover surged by 27.49% to INR 2.2 lakh crore, driven by options trading, which rose 31.71%. MCX expanded its client base by nearly 20% to 6.8 lakh. Looking ahead, MCX plans to launch monthly gold options contracts on November 11, 2024, and has recently introduced cash-settled cotton seed wash oil futures, reflecting its commitment to product innovation.

What is Earnings Call?
Fundamental Scores

MCX Profitability Score
Profitability Due Diligence

Multi Commodity Exchange of India Ltd's profitability score is 69/100. The higher the profitability score, the more profitable the company is.

Negative Free Cash Flow
Positive Gross Profit
Exceptional 3-Years Revenue Growth
Exceptional Revenue Growth Forecast
69/100
Profitability
Score

Multi Commodity Exchange of India Ltd's profitability score is 69/100. The higher the profitability score, the more profitable the company is.

MCX Solvency Score
Solvency Due Diligence

Multi Commodity Exchange of India Ltd's solvency score is 89/100. The higher the solvency score, the more solvent the company is.

High Interest Coverage
High Altman Z-Score
Negative Net Debt
Low D/E
89/100
Solvency
Score

Multi Commodity Exchange of India Ltd's solvency score is 89/100. The higher the solvency score, the more solvent the company is.

Wall St
Price Targets

MCX Price Targets Summary
Multi Commodity Exchange of India Ltd

Wall Street analysts forecast MCX stock price to rise over the next 12 months.

According to Wall Street analysts, the average 1-year price target for MCX is 6 445.83 INR with a low forecast of 3 752.15 INR and a high forecast of 8 400 INR.

Lowest
Price Target
3 752.15 INR
39% Downside
Average
Price Target
6 445.83 INR
4% Upside
Highest
Price Target
8 400 INR
36% Upside
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Dividends

Dividend Yield
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Dividend Per Share
N/A
Growth 3Y
Growth 5Y
Growth 10Y
Dividend Safety Score
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Safe
0
25
50
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100
Shareholder Yield

Current shareholder yield for MCX is .

Shareholder yield represents the total return a company provides to its shareholders, calculated as the sum of dividend yield, buyback yield, and debt paydown yield. What is shareholder yield?

Shareholder Yield
Dividend Yield
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Buyback Yield
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Debt Paydown Yield
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Profile

Multi Commodity Exchange of India Ltd Logo
Multi Commodity Exchange of India Ltd

Country

India

Industry

Financial Services

Market Cap

316B INR

Dividend Yield

0.12%

Description

Multi Commodity Exchange of India Ltd. operates as a commodity derivatives exchange company, which engages in facilitating online trading, clearing, and settlement operations of commodity derivatives. The company is headquartered in Mumbai, Maharashtra. The company went IPO on 2012-03-09. The firm facilitates online trading of commodity derivatives transactions, thereby providing a platform for price discovery and risk management. The firm's product segments include bullion, energy, agricultural basket, base metals and index futures. Its flagship index series, MCX iCOMDEX, is a series of real-time commodity futures price indices, which give information on market movements in key commodities/ segments traded on the exchange. The MCX iCOMDEX series consists of a composite index, apart from three sectoral indices, such as the Base Metal index, the Bullion index and the Energy index, and also nine single-commodity indices, such as Gold, Silver, Aluminum, Copper and Lead, among others. Its subsidiary, Multi Commodity Exchange Clearing Corporation Limited, provides collateral management and risk management services, along with clearing and settlement of trades executed on the exchange.

Contact

MAHARASHTRA
Mumbai
Exchange Square, Suren Road chakala, Andheri (East)
+912267318888
www.mcxindia.com

IPO

2012-03-09

Employees

338

Officers

Chief Operating Officer
Mr. Manoj Jain
Company Secretary & Compliance Officer
Ms. Manisha Harshad Thakur
Chief Risk Officer & Interim Chief Information Security Officer
Mr. Dalvani Ganapathi Praveen
Chief Business Officer
Mr. Rishi Nathany
Chief Digital Officer
Dr. Rajendran Narayanan
Chief Regulatory Officer
Ms. Kavita Ravichandran
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MD, CEO & Director
Mr. Praveena Rai
Chief Financial Officer
Mr. Chandresh Shah
Chief Technology Officer
Mr. Sunil Gianchand Batra
Head of Department - Legal
Mr. Kaushal Ashok Mehta
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See Also

Discover More
What is the Intrinsic Value of one MCX stock?

The intrinsic value of one MCX stock under the Base Case scenario is 3 269.8 INR.

Is MCX stock undervalued or overvalued?

Compared to the current market price of 6 196 INR, Multi Commodity Exchange of India Ltd is Overvalued by 47%.

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