Synopsis: Multi-Commodity Exchange of India Limited reports 120.86% YoY revenue growth and a 150.64% YoY net profit surge in Q3 FY26 results.
This Monopoly Stock, engaged in operating India’s leading electronic commodity derivatives exchange, facilitating trading in futures and options for metals, energy, bullion, and agri-products, jumped 6.38 percent after the company reported December quarterly results with a 121 percent revenue growth and 151 percent profit growth.
With a market capitalization of Rs. 60,143.65 crores, the share of Multi Commodity Exchange of India Limited has reached an intraday high of Rs. 2,428.30 per equity share, rising nearly 6.38 percent from its previous day’s close price of Rs. 2,282.65. Since then, the stock has retreated and is currently trading at Rs. 2,358.65 per equity share.
Q3 FY26 Result Walkthrough:
Coming into the quarterly results of Multi Commodity Exchange of India Limited, the company’s consolidated revenue from operations increased by 120.86 percent YOY, from Rs. 301.38 crore in Q3 FY25 to Rs. 665.62 crore in Q3 FY26, and grew by 77.86 percent QoQ from Rs. 374.23 crore in Q2 FY26. Further, the company’s EBITDA has increased by 143.71 percent, from Rs. 216.10 crore in Q3 FY25 to Rs. 526.65 crore in Q3 FY26.
In Q3 FY26, Multi Commodity Exchange of India Limited’s consolidated net profit increased by 150.64 percent YOY, reaching Rs. 401.12 crore compared to Rs. 160.04 crore during the same period last year. As compared to Q2 FY26, the net profit has increased by 103.13 percent, from Rs. 197.47 crore.
The basic earnings per share increased by 150.48 percent and stood at Rs. 15.73 as against Rs. 6.28 recorded in the same quarter in the previous year, FY2025. Multi Commodity Exchange of India Limited’s revenue and net profit have grown at a CAGR of 44.75 percent and 57.62 percent, respectively, over the last three years.
In terms of return ratios, the company’s ROCE and ROE stand at 42.9 percent and 34.3 percent, respectively. Multi Commodity Exchange of India Limited has an earnings per share (EPS) of Rs. 36.8, and it’s an debt-free company.
Commodities Market Growth:
Multi Commodity Exchange of India Limited saw strong growth in the Indian commodities market during 9M FY26, with total market value reaching around Rs. 958 trillion. Options trading contributed Rs. 850 trillion, while futures accounted for Rs. 108 trillion, highlighting options-led expansion. The sharp rise reflects increasing participation and depth in the commodities market, with MCX continuing to dominate over 99 percent market share across bullion, base metals, and energy segments.
Commodities Futures Turnover:
Multi Commodity Exchange of India Limited witnessed bullion-led futures turnover in Q3 FY26, with gold contributing 44.75 percent and silver 33.77 percent, together accounting for 78 percent of total futures turnover.
Natural gas formed 11.73 percent, followed by copper at 4.56 percent, crude oil at 3.40 percent, zinc at 1.07 percent, aluminium at 0.57 percent, and others at 0.14 percent, underscoring MCX’s strong dominance in bullion contracts.
Multi Commodity Exchange of India Limited recorded strong operational performance in Q3 FY26, with average daily turnover led by Bullion at Rs. 517,381 crore, showing 122 percent QoQ growth and 794 percent YoY growth. Energy turnover stood at Rs. 225,584 crore, growing 29 percent QoQ and 32 percent YoY.
Base metals recorded Rs. 7,151 crore, rising 171 percent QoQ and 96 percent YoY. Agri commodities contributed Rs. 7 crore, while Index products stood at Rs. 14 crore, reflecting sharp growth from a low base. Total average daily turnover reached Rs. 750,137 crore in Q3 FY26.
Multi-Commodity Exchange of India Limited (MCX) was established in 2002 and is the leading national electronic commodity derivatives exchange in India. Initially promoted by Financial Technologies India Ltd., MCX transformed commodity trading by providing a transparent platform for futures and options in metals, energy, bullion, and agricultural products.
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