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India's leading commodity derivatives exchange, offering futures trading in gold, silver, crude oil, base metals and agricultural commodities.
India's leading commodity derivatives exchange, offering futures trading in gold, silver, crude oil, base metals and agricultural commodities.
Earns a transaction fee on each contract traded through brokers, with clearing, data and membership fees added. Volume depends on price volatility in gold, crude and metals and on rules from SEBI, the markets regulator, which took over commodity-market oversight in 2015.
In one line: India's CME Group (commodities segment).
Moat: wide (network effects, regulatory licence, scale). Dominant liquidity and first-mover network effects make MCX India's de facto commodity derivatives exchange.
Headquarters: Mumbai, India · Founded: 2003 · Employees: 478
Size Multi Commodity Exchange of India (MCX.NS) is an India Financials company (Investment Banks/Brokers) with a market value of $9.51B, the 129th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹3,528 on 6 Nov 2026.
Performance Over six months the shares gained 15.9%, against -4.2% for the median peer and 0.0% for the India market (cap-weighted) — 3rd highest of 21 in its peer set.
Growth Revenue grew 122.2% over the last twelve months (peer median +8.4%); the operating margin is 78.8% (peer median 36.9%).
Valuation It trades at 50.8× forward earnings against a peer median of 13.6× (most expensive of 21).
Next results Next results expected around 28 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹32.3B | ₹24.2B | ₹12.0B | ₹7.53B | ₹5.80B |
| Revenue growth | — | +102% | +59% | +30% | — |
| Gross profit | ₹31.4B | ₹23.2B | ₹11.2B | ₹7.14B | ₹5.56B |
| EBITDA | ₹26.2B | ₹18.8B | ₹8.04B | ₹1.64B | ₹2.20B |
| Net income | ₹18.0B | ₹13.3B | ₹5.60B | ₹831M | ₹1.49B |
| Free cash flow | n/a | ₹32.4B | ₹9.33B | ₹3.91B | ₹1.12B |
| Capital expenditure | n/a | ₹723M | ₹959M | ₹1.43B | ₹713M |
| Total debt | ₹90.8M | ₹47.6M | ₹10.1M | ₹16.6M | ₹15.5M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Multi Commodity Exchange of India MCX.NS | $9.51B | +16% | +122% | 79% | 50.8× | n/a |
| BSE BSE.NS | $16.4B | -4% | +58% | 65% | 47.0× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | MCX.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +4.9% | +2.4% | 7th highest of 21 |
| 6-month return | +15.9% | -4.2% | 3rd highest of 21 |
| Distance from 52-week high | -0.6% | -23.4% | highest of 21 |
| Revenue growth (TTM) | +122.2% | +8.4% | highest of 21 |
| Operating margin | 78.8% | 36.9% | 2nd highest of 21 |
| Forward P/E | 50.8× | 13.6× | most expensive of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Multi Commodity Exchange of India MCX.NS | India | $9.51B | +16% | +122% | 79% | 50.8× | n/a | n/a |
| Orient Securities 600958.SS | China | $10.00B | -10% | -5% | 28% | 11.1× | n/a | n/a |
| ASX ASX.AX | Australia | $9.02B | +15% | +3% | 65% | 24.2× | n/a | n/a |
| Houlihan Lokey HLI | United States | $10.1B | -5% | 0% | 20% | 18.0× | n/a | n/a |
| Nordnet SAVE.ST | Sweden | $8.70B | +13% | +11% | 58% | 23.7× | n/a | n/a |
| Everbright Securities 601788.SS | China | $8.70B | -9% | -4% | 36% | 14.6× | n/a | n/a |
| Founder Securities 601901.SS | China | $8.52B | -4% | -21% | 47% | 11.7× | n/a | n/a |
| Virtu Financial VIRT | United States | $8.37B | +5% | +28% | 38% | 7.8× | n/a | n/a |
| Jefferies Financial JEF | United States | $10.9B | -11% | +26% | 41% | 11.3× | n/a | n/a |
| Evercore EVR | United States | $10.9B | -17% | +37% | 22% | 14.2× | n/a | n/a |
| Freedom FRHC | United States | $11.4B | +28% | +8% | 29% | 39.7× | n/a | n/a |
| XP Inc. Class A XP | United States | $7.83B | -21% | +17% | 32% | 6.7× | n/a | n/a |
| Mirae Asset Sec 006800.KS | South Korea | $7.57B | -66% | +5% | 114% | 4.0× | n/a | n/a |
| TMX X.TO | Canada | $12.1B | +10% | +4% | 28% | 22.8× | n/a | n/a |
| Investec INVP.L | United Kingdom | $7.34B | +3% | -4% | 37% | 7.1× | n/a | n/a |
| Japan Exchange 8697.T | Japan | $13.4B | +11% | +40% | 61% | 19.7× | n/a | n/a |
| Guolian Minsheng Securities 601456.SS | China | $6.75B | -13% | +9% | 25% | 20.1× | n/a | n/a |
| Allfunds ALLFG.AS | Netherlands | $6.69B | +18% | +1% | 43% | 20.5× | n/a | n/a |
| Futu Holdings Ltd. Sponsored ADR FUTU | United States | $13.7B | -32% | +44% | 69% | 6.8× | n/a | n/a |
| StoneX SNEX | United States | $6.55B | -33% | +21% | 2% | 13.0× | n/a | n/a |
| Daiwa Securities 8601.T | Japan | $14.0B | +11% | +18% | 17% | 10.8× | n/a | n/a |