MCX · Financial Services
Multi Commodity Exchange of India Ltd. reported revenue of ₹286 cr for July to September 2024, +73.3% on the year and +22.2% on the quarter. It is the highest quarterly revenue in the last 6 quarters on record.
Operating profit (EBITDA) was ₹179 cr, a margin of 62.6%, +8,077 bps on the year and +575 bps on the quarter. It is the widest margin of the last 6 quarters (range −18.2% to 62.6%).
The company swung to a net profit of ₹154 cr from a loss of ₹19.0 cr a year earlier, with earnings per share of ₹6.02.
Asset managers and brokers earn fees on assets and activity, so revenue follows market levels and flows; treasury income can lift other income in a good market quarter. The quarterly statements do not carry assets under management, flows and the yield on assets; those come with the filing read.
On earnings per share of ₹13.61 over the last four quarters, the stock at ₹3,545.00 trades at 260.5 times trailing earnings.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow filed with this quarter, the auditor's review, segment results, one-off items line by line and what management said on the call.
No check fired. That is a statement about the checks below, not a verdict on the company.
Turned profitable from a loss a year ago.
Source: Quarterly statements
Could not run on this quarter: Headline vs core profit, Exceptional items that recur, Finance cost rising, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
This quarter's filing carries a balance sheet and a cash flow statement. The cash, receivables and borrowing checks run once the filing read is in.
| Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | Q2 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹192 cr | ₹181 cr | ₹234 cr | ₹286 cr | ₹301 cr | ₹291 cr | ₹373 cr | ₹374 cr | ₹666 cr | ₹889 cr | ₹702 cr | ₹800 cr |
| YoY | — | — | +60% | +73% | +57% | +61% | +59% | +31% | +121% | +205% | +88% | +114% |
| EBITDA margin | −10.9% | 56.4% | 56.8% | 62.6% | 64.1% | 55.0% | 64.6% | 65.1% | 74.2% | 74.8% | 70.4% | 76.4% |
| Other income, % of PBT | — | 19% | 14% | 14% | 12% | 18% | 13% | 11% | 6% | 5% | 10% | 8% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | — | 19% | 20% | 20% | 21% | 20% | 21% | 21% | 20% | 22% | 21% | 29% |
| Net profit | −₹5.0 cr | ₹88.0 cr | ₹111 cr | ₹154 cr | ₹160 cr | ₹135 cr | ₹203 cr | ₹197 cr | ₹401 cr | ₹530 cr | ₹413 cr | ₹455 cr |
| YoY | — | — | +455% | — | — | +53% | +83% | +28% | +151% | +293% | +104% | +130% |
| Core profit YoY | — | — | +2,280% | — | — | +57% | +87% | +35% | +165% | +368% | +112% | +164% |
| EPS | −₹0.21 | ₹3.45 | ₹4.35 | ₹6.02 | ₹6.28 | ₹5.31 | ₹7.97 | ₹7.74 | ₹15.73 | ₹20.78 | ₹16.21 | ₹17.83 |
| Flags | · | · | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | 1 | ✓ | 1 |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Multi Commodity Exchange of India Ltd. reported revenue of ₹286 cr (+73.3% on the year) and net profit of ₹154 cr (— on the year) for July to September 2024.
None of the 5 checks that could run raised a question.
No. FinMinutes reports what was filed and the questions the numbers raise. It does not recommend buying, selling or holding any security.
Numbers as filed with the exchanges, read by rules. Every flag is a question with its source, not an accusation. FinMinutes is a financial data and analytics platform; nothing here is a recommendation to buy, sell or hold any security. How each check works.