Multi Commodity Exchange of India (MCX) Q1 26/27 earnings summary

Executive summary

• Q1 FY27 delivered robust operational and financial performance, with total income rising 85% year-over-year to ₹752 crore and profit after tax reaching ₹413 crore, up 103% year-over-year.

• Average daily turnover (ADT) grew 47% year-over-year to ₹10.5 lakh crore, with notional options ADT up 266% year-over-year.

• Traded client base doubled year-over-year to 13.72 lakh clients, reflecting broader adoption of commodity derivatives.

• Maintained over 99% market share in bullion, base metals, and energy segments.

• Successful launch of the silver 100g futures contract and incorporation of MCX Coal Exchange of India Limited.

Financial highlights

• Operating revenue rose to ₹702 crore, up 88% year-over-year; EBITDA doubled to ₹544 crore with a margin of 72%.

• Consolidated net profit after tax was ₹413.44 crore, up from ₹203.19 crore year-over-year.

• EPS increased to ₹16.21 from ₹7.97 in Q1 FY26.

• Float income for the quarter was ₹30 crore.

• Consolidated net profit margin improved to 55% from 50% year-over-year.

Outlook and guidance

• Growth momentum expected to remain strong in FY27, with normalization after an exceptional Q4 FY26.

• Focus remains on expanding participation, product suite, liquidity, and technology infrastructure.

• Regulatory changes allow broader participation from banks, mutual funds, portfolio managers, and FPIs.

• No significant detrimental impact expected from recent RBI regulations on bank guarantees; industry is adapting.

• The record date for determining shareholders eligible for the final dividend will be set, subject to shareholder approval at the AGM.