Multi Commodity Exchange Of India Ltd - Stock Valuation and Financial Performance

BSE: 534091 | NSE: MCX | Finance - Stock Broking | Small Cap

Multi Commodity Exch Share Price

3,355 -7.30 -0.22%
as on 28-Mar'24 16:01

DeciZen - make an informed investing decision on Multi Commodity Exch

Overall Rating
Bole Toh

1. Quality

2. Valuation

Overvalued

3. Price Trend

Semi Strong

Multi Commodity Exchange Of India stock performance -

mw4me loader
P/E Ratio (SA):
0.00
Market Cap:
17,076.8 Cr.
52-wk low:
1,289.2
52-wk high:
3,990.2

Is Multi Commodity Exchange Of India Ltd an attractive stock to invest in?

1. Is Multi Commodity Exchange Of India Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Multi Commodity Exchange Of India Ltd is a good quality company.

2. Is Multi Commodity Exchange Of India Ltd undervalued or overvalued?

The key valuation ratios of Multi Commodity Exchange Of India Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

3. Is Multi Commodity Exchange Of India Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Multi Commodity Exchange Of India Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Multi Commodity Exch:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

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

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 12.4%9.3%8%8.4%6.9%9%13.9%12%7.6%8.3%-
Value Creation
Index
-0.1-0.3-0.4-0.4-0.5-0.40.0-0.1-0.4-0.4-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 341222235259260298370345330449544
Sales YoY Gr.--34.7%5.6%10.4%0.2%14.8%24.2%-6.9%-4.4%36.2%-
Adj EPS 3024.522.324.820.926.840.936.823.225.50.4
YoY Gr.--18.1%-9%11%-15.8%28.4%52.8%-9.9%-36.9%9.6%-
BVPS (₹) 258.1272.4289.3299.1304.4286.5303.2309.9305312.9291.4
Adj Net
Profit
1531251141261061372091881181302
Cash Flow from Ops. 38.569.677.7-31.9102-12920189.3119-63.8-
Debt/CF from Ops. 0000000000-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 3.1%11.6%6.6%36.2%
Adj EPS -1.8%4.1%-14.6%9.6%
BVPS2.2%0.6%1.1%2.6%
Share Price 21.3% 33% 28.9% 123.8%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
12.49.27.98.46.99.113.9127.68.20.1
Op. Profit
Mgn %
43.135.932.130.828.731.139.240.938.926.6-8.9
Net Profit
Mgn %
44.856.248.448.740.945.856.354.535.928.90.4
Debt to
Equity
0000000000-
Working Cap
Days
7171,1631,1661,3891,5911,1968999851,021836153
Cash Conv.
Cycle
-45-49-28-53-76-84-73-58-54-3158

Recent Performance Summary

Sales growth is good in last 4 quarters at 26.01%

Return on Equity has declined versus last 3 years average to 0.10%

Sales growth has been subdued in last 3 years 6.64%

Net Profit has been subdued in last 3 years -14.61%

Latest Financials - Multi Commodity Exchange Of India Ltd.

Standalone Consolidated
TTM EPS (₹) 0.4 0.1
TTM Sales (₹ Cr.) 544 636
BVPS (₹.) 291.4 394.7
Reserves (₹ Cr.) 1,435 1,962
P/BV 11.49 8.48
PE 0.00 0.00
From the Market
52 Week Low / High (₹) 1289.20 / 3990.20
All Time Low / High (₹) 238.30 / 3990.20
Market Cap (₹ Cr.) 17,077
Equity (₹ Cr.) 51
Face Value (₹) 10
Industry PE 25.3

Management X-Ray of Multi Commodity Exch:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Multi Commodity Exch

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Income440340351376346391482494404522
Interest Income341222235259260298370345330449
Other Income 9911811611686931111497473
Expenditure 230170185198202228243264224350
Interest Expense 1100000000
Operating Expenses 206161177191194207227212213336
Provisions 2378782016521114
Exceptional Items 00-600-2400-200
Profit Before Tax 210170161177144140239229159171
Taxes 5745475138330424142
Profit After Tax 153125114126106137209188118130
Adjusted EPS (₹)30.024.522.324.820.926.840.936.823.225.5
Dividend Payout Ratio (%)33%41%29%61%82%75%73%75%75%75%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Equity Capital1,3161,3891,4781,5291,5571,4631,5471,5801,5551,596
Share Capital 51515151515151515151
Reserves 1,2651,3381,4271,4781,5061,4121,4961,5291,5041,545
Minority Interest0000000000
Long Term Borrowings554606640712735776809803797844
Current Liabilities 419442401332404123190181220248
Trade Payables34101930413530223122
Short term borrowings0000000000
Other Liabilities-34-10-19-30-41-35-30-22-31-22
Total Liabilities 2,2892,4372,5192,5732,6962,3622,5462,5652,5722,688

Assets

Non Current Asset 7227681,0481,6721,6561,7061,8471,8471,7282,274
Loan Asset 0000000000
Other Non Current Asset 7227681,0481,6721,6561,7061,8471,8471,7282,274
Current Asset 1,5671,6691,4719021,040656699718844414
Current Investment1,0771,279856754888528587598713128
Other Current Asset490389614147152127112120131285
Total Assets 2,2892,4372,5192,5732,6962,3622,5462,5652,5722,688

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 387078-32102-12920189119-64
Cash Flow From Investing Activity 53-68-315533191-786323151
Cash Flow From Financing Activity -113-19-61-40-92-105-123-154-142-89
Net Cash Flow -22-18-14-1743-43-1-10-2
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Operational & Financial Ratios

EPS (₹)30252225212741372325
DPS (₹)1010715172030281719
BVPS (₹)258272289299304287303310305313

Performance Ratios

ROA (%)6.75.34.65.04.05.48.57.44.64.9
ROE (%)12.49.27.98.46.99.113.912.07.68.2
ROCE (%)17.012.711.311.89.39.315.914.710.210.9

Valuation Parameters

Price/Book(x)1.94.12.94.02.22.83.74.94.64.9

Multi Commodity Exchange Of India Ltd Stock News

Multi Commodity Exchange Of India Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Multi Commodity Exch on 28-Mar-2024 16:01 is ₹3,355.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 28-Mar-2024 16:01 the market cap of Multi Commodity Exch stood at ₹17,076.8.
The latest P/E ratio of Multi Commodity Exch as of 28-Mar-2024 16:01 is 0.00.
The latest P/B ratio of Multi Commodity Exch as of 28-Mar-2024 16:01 is 11.49.
The 52-week high of Multi Commodity Exch is ₹3,990.2 and the 52-week low is ₹1,289.2.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Multi Commodity Exch is ₹544.4 ( Cr.) .

About Multi Commodity Exchange Of India Ltd

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.
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