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Multi Commodity Exchange Of India Ltd Stock Analysis

Mid Cap
Evaluated by 3022 users | BSE: 534091 | NSE: MCX |
Finance - Stock Broking

The Multi Commodity Exchange of India Limited (MCX), India’s first listed exchange, is a state-of-the-art, commodity derivatives exchange that facilitates online trading of commodity derivatives transactions, thereby providing a platform for price...

1. Right Stock
Very Good
2. Right Price
3. Right Time

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Multi Commodity Exchange Of India Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good
 Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20
Operating Income (Rs. Cr.)369545524341222235259260298370
Y-o-Y Gr. Rt.-47.8%-3.9%-35%-34.7%5.6%10.4%0.2%14.8%24.2%
Adjusted EPS (Rs.)
Adjusted Earning per Share is the company’s net profit per share after adjusting for extra-ordinary/exceptional items
34.3356.3758.5629.9524.5222.3124.7620.8526.7640.89
Y-o-Y Gr. Rt.-64.2%3.9%-48.9%-18.1%-9%11%-15.8%28.4%52.8%
Book Value per Share (Rs.)
The total value that a company will fetch upon liquidation (if it is closed down), after settling all obligations is called its Book Value. Book value of a company includes only tangible assets. Book value allocated to each outstanding share is called Book Value per share
170.08196.37226.82258.06272.42289.26299.07304.37286.53303.24
Y-o-Y Gr. Rt.-15.5%15.5%13.8%5.6%6.2%3.4%1.8%-5.9%5.8%
To view Net Profit/Total Funds (%) Colour Rating Guide click here
Net Profit/Total Funds (%): Colour Rating Guide
  • >12 : Very Good
  • 8-12 : Somewhat Good
  • <8: Not Good
Net Profit/Total Funds (%)12.6715.1913.156.695.294.594.964.045.48.5
Standalone financials take only the parent company into account while consolidated financials take into account financials of the parent company as well as of all its subsidiaries. In most companies consolidated financials should be used for analysis.
Multi Commodity Exchange Of India Ltd. should be analysed on a Standalone basis
CAGR
CAGR Colour Code Guide
  9 yrs 5 yrs 3 yrs 1 yr
Operating Income0.1%10.7%12.6%24.2%
Adjusted EPS
Adjusted Earnings per Share is the Company’s net profit per share after adjusting for extra-ordinary/exceptional items.
2%10.8%18.2%52.8%
Book Value per Share
6.6%2.2%0.5%5.8%
Share Price 4.4% 8.7% 25.1% 17.3%
Key Financial Ratios
RATIOS \ YEARSMar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20
Margins
Net Profit Margin (%) 46.8552.55744.8456.2148.4348.6740.9345.7556.29
Performance Ratios
To view Performance Ratios Colour Rating Guide click here
Performance Ratios: Colour Rating Guide
  • >15 : Very Good
  • 12-15 : Somewhat Good
  • <12 : Not Good
Return on Equity (%) 22.2530.8927.7312.359.247.948.976.919.0613.87
Corporate Governance What do we look at?
Corporate Governance
Board Credentials
Promoter's holding
Transparency
Integrity
Entity Percentage Holding
Institutions 77.40%
Non-Institutions 22.60%
Others 0.19%
Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

MoneyWorks4Me analysed the past 10-year performance of Multi Commodity Exchange Of India Ltd and arrived at the following conclusion:

Past 10 year's financial track record indicates that Multi Commodity Exchange Of India Ltd is a good quality company. However, for specific investment actions please connect with your investment advisor.

The 5-year analysis of Multi Commodity Exchange Of India Ltd's performance infers:

Multi Commodity Exchange Of India Ltd earnings have grown by 10.8%, whereas share price has appreciated 8.7% CAGR over the past five years, indicating the company's share price is likely undervalued. However, for specific investment actions please connect with your investment advisor.

Data is not available for this company

The Multi Commodity Exchange of India Limited (MCX), India’s first listed exchange, is a state-of-the-art, 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).

Read More

The Multi Commodity Exchange of India Limited (MCX), India’s first listed exchange, is a state-of-the-art, 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).

Business area of the company

MCX offers trading in commodity derivative contracts across varied segments including bullion, industrial metals, energy and agricultural commodities, as also on indices constituted from these contracts. It is India’s first Exchange to offer commodity options contracts, bullion index futures and base metals index futures contracts. The Exchange focuses on providing commodity value chain participants with neutral, secure and transparent trade mechanisms, and formulates quality parameters and trade regulations, in conformity with the regulatory framework.

Products

MCX provides exposure to the performance of a basket of commodities

MCX iCOMDEX

  • MCX BULLDEX
  • MCX METLDEX

Bullion

  • Gold
  • Gold Mini 
  • Gold Guinea 
  • Gold Petal 
  • Silver 
  • Silver Mini 
  • Silver Micro

Base Metals

  • Aluminium
  • Copper 
  • Lead 
  • Nickel
  • Zinc

Energy

  • Crude Oil
  • Natural Gas

Agri Commodities

  • Black Pepper
  • Cardamom 
  • Castor Seed 
  • Cotton 
  • Crude Palm Oil 
  • Kapas 
  • Mentha Oil 
  • Rubber

Awards

2008:

  • Received the “Best Bullion Exchange of the Year” award from the Bombay Bullion Association.
  • Recognised as “India’s First Green Exchange” by Priyadarshini Academy.
  • Awarded the “Golden Peacock Eco-innovation award 2008” by the Institute of Directors.

2009:

  • Received the “Sankalp Award” for Agriculture and Rural Innovation.

2010:

  • Received the “Best Commodity Exchange of the Year” award from the Bombay Bullion Association.
  • Conferred with the FICCI Socio Economic Development Foundation (SEDF) Corporate Social Responsibility Award 2009-10.
  • Received the NASSCOM Foundation Social Innovation Honours 2010.

2011:

  • Conferred with the Best Commodity Exchange of the year award by the Bombay Bullion Association at the 8th India International Gold Conventions, held at Kochi.
  • Won the Indy’s award under the category ‘Best in Corporate Social Responsibility practices’.
  • Conferred with the “Financial Inclusion Award 2011” from the SKOCH Foundation.

2012:

  • FinanceAsia awards MCX IPO as the ‘Best Mid-cap Equity Deal’ in the entire Asia-Pacific for 2012; 1st exchange in the Asia Pacific to receive this recognition.
  • MCX’s Gold Petal contract received the FOW award for ‘the most innovative contract launch by an exchange’ under the metals category.
  • Conferred with the Best Commodity Exchange of the year award by the Bombay Bullion Association at the 9th India International Gold Conventions, held at Hyderabad.
  • Conferred with the Business Superbrand award.

2013:

  • The ‘Best Commodity Exchange of the year’ award by Global Cotton Conference.

2015:

  • Honoured with the ‘Best Commodity Exchange Award’ at the India International Bullion Summit organised by IBJA.
  • Recognised as the ‘Exchange of the year for Investor Education and Awareness’ by Commodity Participants Association of India (CPAI).

2016:

  • Awarded as the ‘Best Bullion Exchange 2016’ by Assocham, September, 2016.
  • Honoured with the ‘Best Commodity Exchange’ Award 2016 at the Bullion Federation Global Convention.
  • Won the ‘Best Commodity Exchange’ Award at the 14th Commodity Futures Market Summit & Excellence Awards, organized by Assocham.

2017:

  • Recognized by Assocham, for being ‘India’s Leading Commodity Exchange and introducing new products in the Commodity Derivatives Market’, December 2017
  • Awarded the ‘Best Commodity Exchange of India’, 2017 by the PHD Chamber of Commerce and Industry
  • Awarded the ‘Best Commodity Exchange of the Year 2016-17’ at the India International Gold Convention 2017, August 2017
  • Honoured with ‘Best Bullion Exchange of the Year 2017’ award by the Bullion Federation of India, August 2017
  • Awarded the ‘Best Commodity Exchange of the Year’ 2016-17 by CPAI
  • Recognized as the ‘Best Promising Commodity Exchange 2017’ by IBJA, March, 2017
  • Honoured with ‘Exchange of the Year’ award by Assocham, March, 2017

2018:

  • Awarded the ‘Best Exchange in Bullion’ 2018, at the Assocham - 11th International Gold Summit, September 2018
  • Honoured as the ‘Best Commodity Exchange’ 2018, by PHD Chamber of Commerce and Industry, September 2018
  • Awarded the ‘Best Commodity Exchange’ at the India International Gold Convention, August 2018
  • Awarded the ‘Best Commodity Exchange’ at the Bullion Federation Global Convention (BFGC), July 2018
  • Honoured with the ‘Best Commodity Exchange’ Award, by Assocham, July 2018
  • Honoured with the ‘Best Commodity Exchange’ Award by the Commodity Participants Association of India (CPAI), June 2018
  • Honoured with the ‘Best Commodity Exchange’ Award by Indian Bullion & Jewellers Association (IBJA), March 2018

2019:

  • Awarded the ‘Best Commodity Exchange’ at the India International Gold Convention, August 2019
  • Awarded the ‘Best Exchange For Bullion, Metals and Energy’ by Commodity Participants Association of India (CPAI), July 2019
  • Honoured with the ‘Best Commodity Exchange’ Award at the India International Bullion Summit, March 2019

Milestones

  • 2002: Incorporated
  • 2003: Commenced operations on November 10
  • 2005: Licensing agreement with LME
  • 2006: Product licensing agreement with NYMEX (CME Group)
  • 2008: Became a member of the International Organisation of Securities Commissions (IOSCO)
  • 2012: Became India’s first listed exchange
  • 2013: Changes in top management and Board
  • 2015: Sign MoU with CME Group
  • 2017: Launched first-ever Gold Options contract on futures in India
  • 2018: Launched first-ever Brass futures contract in the world
  • 2018: Launched Options contract in Crude Oil, Silver, Copper & Zinc
  • 2019: Introduced real time MCX iCOMDEX Excess Return index series including composite, sectoral (bullion & metal) and single commodity ER indices.
  • 2019: Conversion of all MCX Base Metals futures contracts to delivery-based settlement mode from Both-options settlement mode from March 2019 and onwards.
  • 2019: Successfully introduced 1 gram delivery based Gold Petal Contract.
  • 2019: Signed MoU with Zhengzhou Commodity Exchange.
  • 2019: Launch of Kapas Contract.
  • 2020: Conversion of Silver Mini (5 kg) & Micro (1 kg) into delivery based contracts.
  • 2020: Launching of deliverable 'Option in goods' with Gold 100 grams and Silver 5 kg as underlying.
Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

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