MULTI COMMODITY EXCHANGE OF INDIA LIMITED

Cash flow Multi Commodity Exchange of India Limited

Equities

MCX

INE745G01043

Financial & Commodity Market Operators

Market Closed - NSE India S.E. Other stock markets 12:05:09 15/05/2026 BST			5-day change	1st Jan Change
3,391.00 ^INR	+1.55%		+9.46%	+52.25%

05-13	Four Indian stocks added, four excluded from key global index in MSCI's May rejig	RE
05-12	Elara Securities Downgrades Multi Commodity Exchange of India to Accumulate from Buy; Price Target is INR3,409	MT

32712b58e5c86a2eb8243cb3394.-sq7KIarhPe14LigaxzGbhMcPP1T7Wz_cxCv1r-XWI4.lOffQdLMw6TFhNDZPVKpIWVsVMRlrB6QR1r3sIzSHbm5-fNa1tvIr-yY8Q

Published financial data: MULTI COMMODITY EXCHANGE OF INDIA LIMITED

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: March	2021	2022	2023	2024	2025
Revenues	3.91B	3.67B	5.14B	6.84B	11.13B
Gain (Loss) on Sale of Investment, Total (Rev)	679M	315M	301M	144M	220M
Interest And Invest. Income (Rev)	306M	248M	298M	523M	610M
Other Revenues, Total	46.1M	45.1M	57.1M	22.7M	12.5M
Total Revenues	4.94B	4.28B	5.79B	7.52B	11.97B
Cost of Goods Sold, Total	17M	15.2M	13.6M	11.2M	703M
Gross Profit	4.92B	4.26B	5.78B	7.51B	11.27B
Selling General & Admin Expenses, Total	1.65B	1.7B	3.21B	5.43B	2.46B
Provision for Bad Debts	-	-	-	-	-
Depreciation & Amortization - (IS)	221M	227M	216M	359M	638M
Other Operating Expenses	376M	275M	396M	711M	1.22B
Other Operating Expenses, Total	2.25B	2.2B	3.82B	6.5B	4.32B
Operating Income	2.67B	2.06B	1.96B	1.02B	6.95B
Interest Expense, Total	-1.9M	-2.4M	-2.1M	-2.7M	-4.5M
Interest And Investment Income	-	-	-	22.4M	30.6M
Net Interest Expenses	-1.9M	-2.4M	-2.1M	19.7M	26.1M
Income (Loss) On Equity Invest.	900K	-12.7M	-49.8M	-15.2M	20.9M
Currency Exchange Gains (Loss)	-1.5M	-2.6M	-400K	-1M	-2.2M
Other Non Operating Income (Expenses)	-	0	-	-	-
EBT, Excl. Unusual Items	2.67B	2.05B	1.91B	1.02B	6.99B
Gain (Loss) On Sale Of Assets	-	-1M	-	-	400K
Asset Writedown	-	-204M	-	-	-
Other Unusual Items	-	-	-	-	-
EBT, Incl. Unusual Items	2.67B	1.84B	1.91B	1.02B	6.99B
Income Tax Expense	415M	406M	416M	189M	1.39B
Earnings From Continuing Operations	2.25B	1.43B	1.49B	831M	5.6B
Net Income to Company	2.25B	1.43B	1.49B	831M	5.6B
Net Income - (IS)	2.25B	1.43B	1.49B	831M	5.6B
Net Income to Common Incl Extra Items	2.25B	1.43B	1.49B	831M	5.6B
Net Income to Common Excl. Extra Items	2.25B	1.43B	1.49B	831M	5.6B
Per Share Items
Net EPS - Basic	8.85	5.64	5.85	3.26	21.96
Basic EPS - Continuing Operations	8.85	5.64	5.85	3.26	21.96
Basic Weighted Average Shares Outstanding	255M	255M	255M	255M	255M
Net EPS - Diluted	8.85	5.64	5.85	3.26	21.96
Diluted EPS - Continuing Operations	8.85	5.64	5.85	3.26	21.96
Diluted Weighted Average Shares Outstanding	255M	255M	255M	255M	255M
Normalized Basic EPS	6.55	5.02	4.68	2.5	17.14
Normalized Diluted EPS	6.55	5.02	4.68	2.5	17.14
Dividend Per Share	5.52	3.48	3.82	1.53	6
Payout Ratio	67.93	98.12	59.57	117.15	6.96
Supplemental Items
EBITDA	2.8B	2.18B	2.09B	1.2B	7.25B
EBITA	2.67B	2.06B	1.96B	1.02B	6.95B
EBIT	2.67B	2.06B	1.96B	1.02B	6.95B
EBITDAR	2.83B	2.21B	2.13B	1.23B	7.32B
Total Revenues (As Reported)	4.94B	4.33B	5.81B	7.59B	12.09B
Effective Tax Rate - (Ratio)	15.57	22.05	21.83	18.5	19.93
Current Domestic Taxes	468M	431M	511M	72.3M	1.2B
Total Current Taxes	468M	431M	511M	72.3M	1.2B
Deferred Domestic Taxes	-37M	6.5M	-101M	103M	140M
Total Deferred Taxes	-37M	6.5M	-101M	103M	140M
Normalized Net Income	1.67B	1.28B	1.19B	637M	4.37B
Interest on Long-Term Debt	1.9M	1M	200K	2.3M	1.7M
Non-Cash Pension Expense	1M	1M	1.1M	1.6M	-300K
Supplemental Operating Expense Items
Advertising Expense	22.8M	21.7M	22.5M	17.1M	19.9M
Selling and Marketing Expenses	22.8M	21.7M	22.5M	17.1M	19.9M
General and Administrative Expenses	847M	845M	2.23B	4.25B	927M
Research And Development Expense From Footnotes	165M	153M	191M	240M	-
Net Rental Expense, Total	30.9M	28.9M	36M	35.7M	67.2M
Imputed Operating Lease Interest Expense	24.85M	46.05M	50.19M	48.04M	181M
Imputed Operating Lease Depreciation	6.05M	-17.15M	-14.19M	-12.34M	-114M
Maintenance & Repair Expenses, Total	17M	15.2M	13.6M	11.2M	8.9M
Stock-Based Comp., SG&A Exp. (Total)	-	-	-	-	-
Total Stock-Based Compensation	-	-	-	-	-

Fiscal Period: March	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	298M	1.38B	1.81B	1.8B	3.39B
Short Term Investments	4.13B	8.68B	10.11B	9.17B	16.13B
Trading Asset Securities, Total	5.8B	6.81B	1.86B	1.78B	4.76B
Total Cash And Short Term Investments	10.23B	16.87B	13.78B	12.75B	24.28B
Accounts Receivable, Total	789M	1.11B	1.12B	1.19B	1.84B
Other Receivables	9.9M	2.4M	9.6M	200K	55.9M
Notes Receivable	500K	-	-	-	-
Total Receivables	799M	1.11B	1.13B	1.19B	1.89B
Prepaid Expenses	122M	120M	92.6M	91.6M	118M
Other Current Assets, Total	133M	120M	1.26B	474M	327M
Total Current Assets	11.28B	18.22B	16.26B	14.5B	26.62B
Gross Property Plant And Equipment	2.07B	2.56B	2.72B	3.01B	3.12B
Accumulated Depreciation	-648M	-753M	-889M	-1.07B	-810M
Net Property Plant And Equipment	1.42B	1.81B	1.83B	1.93B	2.31B
Long-term Investments	8.23B	5.2B	8.83B	6.3B	10.66B
Other Intangibles, Total	436M	704M	1.35B	2.02B	1.99B
Accounts Receivable Long-Term	222M	100M	1.8M	315M	19.2M
Deferred Tax Assets Long-Term	47.6M	-	4.3M	-	-
Other Long-Term Assets, Total	3.39B	1.96B	1.94B	9.02B	1.66B
Total Assets	25.03B	28.01B	30.23B	34.09B	43.25B
Liabilities
Accounts Payable, Total	203M	264M	214M	616M	856M
Accrued Expenses, Total	116M	131M	174M	171M	361M
Current Portion of Leases	6.8M	4M	4.2M	7.5M	7M
Current Income Taxes Payable	90.5M	11.3M	46.8M	-	-
Unearned Revenue Current, Total	197M	184M	189M	249M	261M
Other Current Liabilities	4.96B	7.32B	8.35B	10.8B	12.74B
Total Current Liabilities	5.57B	7.91B	8.98B	11.84B	14.23B
Long-Term Leases	8.5M	4.6M	11.3M	9.1M	3.1M
Unearned Revenue Non Current	504M	491M	485M	469M	491M
Pension & Other Post Retirement Benefits	41.4M	36.3M	40M	68.2M	60.2M
Deferred Tax Liability Non Current	-	98.4M	-	81.9M	263M
Other Non Current Liabilities	21.9M	27.4M	24.6M	27.9M	63.5M
Total Liabilities	6.15B	8.57B	9.54B	12.5B	15.11B
Common Stock, Total	510M	510M	510M	510M	510M
Additional Paid In Capital	2.17B	2.17B	2.17B	2.17B	2.17B
Retained Earnings	11.88B	11.91B	12.51B	11.52B	16.56B
Comprehensive Income and Other	4.31B	4.85B	5.5B	7.39B	8.91B
Total Common Equity	18.87B	19.44B	20.69B	21.59B	28.15B
Total Equity	18.87B	19.44B	20.69B	21.59B	28.15B
Total Liabilities And Equity	25.03B	28.01B	30.23B	34.09B	43.25B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	255M	255M	255M	255M	255M
ECS Total Common Shares Outstanding	255M	255M	255M	255M	255M
Book Value / Share	74.02	76.23	81.14	84.67	110.38
Tangible Book Value	18.44B	18.73B	19.34B	19.57B	26.15B
Tangible Book Value Per Share	72.31	73.46	75.83	76.75	102.56
Total Debt	15.3M	8.6M	15.5M	16.6M	10.1M
Net Debt	-10.21B	-16.86B	-13.76B	-12.73B	-24.27B
Debt Equivalent of Unfunded Proj. Benefit Obligation	15.9M	17.6M	20.9M	-3M	22.2M
Debt Equivalent Oper. Leases	247M	231M	288M	286M	538M
Equity Method Investments, Total	124M	124M	383M	371M	602M
Account Code - Inventory Valuation	3	3	3	3	3
Land - (BS)	506M	506M	506M	506M	506M
Buildings, Total	627M	627M	627M	627M	627M
Machinery, Total	897M	967M	1.03B	1.75B	1.87B
Full Time Employees	343	308	335	355	400
Accumulated Allowance for Doubtful Accounts (Supple)	8.9M	6.9M	4.6M	1.8M	1.8M

Fiscal Period: March	2021	2022	2023	2024	2025
Net Income	2.25B	1.43B	1.49B	831M	5.6B
Depreciation & Amortization - CF	139M	127M	138M	188M	313M
Amortization of Goodwill and Intangible Assets - (CF)	-	100K	100K	100K	-
Depreciation & Amortization, Total	139M	127M	138M	189M	313M
Amortization of Deferred Charges, Total - (CF)	81.3M	99.8M	78M	171M	324M
(Gain) Loss From Sale Of Asset	-	1M	-	-	-
(Gain) Loss on Sale of Investments - (CF)	-679M	-315M	-301M	-144M	-220M
Asset Writedown & Restructuring Costs	-	204M	-	-	2.2M
(Income) Loss On Equity Investments - (CF)	-900K	17.1M	49.8M	15.2M	-20.9M
Stock-Based Compensation (CF)	-	-	-	-	-
Provision and Write-off of Bad Debts	2.6M	500K	4.4M	500K	-
Other Operating Activities, Total	-366M	-229M	-370M	-885M	-540M
Change In Accounts Receivable	-27.6M	-25.6M	-36.1M	-95.1M	335M
Change In Accounts Payable	-107M	106M	-41.2M	420M	226M
Change in Other Net Operating Assets	-3.14B	2.49B	403M	4.71B	3.48B
Cash from Operations	-1.84B	3.91B	1.41B	5.21B	9.5B
Capital Expenditure	-211M	-820M	-713M	-1.43B	-959M
Sale of Property, Plant, and Equipment	-	2.2M	-	-	-
Divestitures	-	-	-	-	-
Investment in Marketable and Equity Securities, Total	1.18B	774M	1.37B	-35.32B	-42.36B
Other Investing Activities, Total	-1.36B	-1.38B	-741M	32.51B	35.81B
Cash from Investing	-388M	-1.42B	-80.8M	-4.24B	-7.51B
Long-Term Debt Repaid, Total	-8.6M	-7.6M	-5.3M	-7.8M	-9.6M
Total Debt Repaid	-8.6M	-7.6M	-5.3M	-7.8M	-9.6M
Common Dividends Paid	-1.53B	-1.41B	-887M	-974M	-390M
Common & Preferred Stock Dividends Paid	-1.53B	-1.41B	-887M	-974M	-390M
Other Financing Activities, Total	-300K	-1.3M	-2.1M	-400K	-2.8M
Cash from Financing	-1.54B	-1.42B	-895M	-982M	-402M
Miscellaneous Cash Flow Adjustments	-	-	-	-	-
Net Change in Cash	-3.77B	1.07B	439M	-15.7M	1.59B
Supplemental Items
Cash Interest Paid	300K	1.3M	2.1M	400K	2.8M
Cash Income Tax Paid (Refund)	478M	323M	495M	511M	401M
Levered Free Cash Flow	-2.04B	2.73B	675M	3.15B	5.82B
Unlevered Free Cash Flow	-2.04B	2.73B	676M	3.15B	5.83B
Change In Net Working Capital	3.72B	-2.04B	51.1M	-3.59B	-1.81B
Net Debt Issued / Repaid	-8.6M	-7.6M	-5.3M	-7.8M	-9.6M

Fiscal Period: March	2021	2022	2023	2024	2025
Profitability
Return on Assets	6.37	4.86	4.2	1.98	11.23
Return on Total Capital	9.12	6.73	6.1	3	17.45
Return On Equity %	12.32	7.49	7.42	3.93	22.52
Return on Common Equity	12.32	7.49	7.42	3.93	22.52
Margin Analysis
Gross Profit Margin %	99.66	99.64	99.77	99.85	94.13
SG&A Margin	33.47	39.64	55.4	72.13	20.53
EBITDA Margin %	56.75	51.07	36.1	15.92	60.61
EBITA Margin %	54.09	48.25	33.81	13.51	58.06
EBIT Margin %	54.09	48.25	33.81	13.51	58.06
Income From Continuing Operations Margin %	45.63	33.55	25.72	11.05	46.79
Net Income Margin %	45.63	33.55	25.72	11.05	46.79
Net Avail. For Common Margin %	45.63	33.55	25.72	11.05	46.79
Normalized Net Income Margin	33.78	29.9	20.57	8.47	36.52
Levered Free Cash Flow Margin	-41.3	63.91	11.65	41.81	48.67
Unlevered Free Cash Flow Margin	-41.28	63.95	11.67	41.84	48.69
Asset Turnover
Asset Turnover	0.19	0.16	0.2	0.23	0.31
Fixed Assets Turnover	3.45	2.65	3.18	4	5.64
Receivables Turnover (Average Receivables)	5.25	3.86	4.6	5.92	7.49
Short Term Liquidity
Current Ratio	2.02	2.3	1.81	1.22	1.87
Quick Ratio	1.98	2.27	1.66	1.18	1.84
Operating Cash Flow to Current Liabilities	-0.33	0.49	0.16	0.44	0.67
Days Sales Outstanding (Average Receivables)	69.51	94.51	79.26	61.84	48.72
Average Days Payable Outstanding	5.51K	5.61K	6.41K	13.55K	382.1
Long Term Solvency
Total Debt/Equity	0.08	0.04	0.07	0.08	0.04
Total Debt / Total Capital	0.08	0.04	0.07	0.08	0.04
LT Debt/Equity	0.04	0.02	0.05	0.04	0.01
Long-Term Debt / Total Capital	0.04	0.02	0.05	0.04	0.01
Total Liabilities / Total Assets	24.58	30.6	31.55	36.66	34.93
EBIT / Interest Expense	1.41K	859.75	932.38	376.41	1.54K
EBITDA / Interest Expense	1.48K	912.75	998.05	446.26	1.61K
(EBITDA - Capex) / Interest Expense	1.37K	571.17	658.67	-84.22	1.4K
Total Debt / EBITDA	0.01	0	0.01	0.01	0
Net Debt / EBITDA	-3.64	-7.7	-6.57	-10.57	-3.34
Total Debt / (EBITDA - Capex)	0.01	0.01	0.01	-0.07	0
Net Debt / (EBITDA - Capex)	-3.93	-12.3	-9.95	55.98	-3.85
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-1.88	-13.37	35.62	29.93	59.06
Gross Profit, 1 Yr. Growth %	-1.71	-13.38	35.78	30.04	58.29
EBITDA, 1 Yr. Growth %	1.17	-22.05	-4.01	-42.71	505.7
EBITA, 1 Yr. Growth %	0.58	-22.72	-4.84	-48.09	583.67
EBIT, 1 Yr. Growth %	0.58	-22.72	-4.84	-48.1	583.74
Earnings From Cont. Operations, 1 Yr. Growth %	-4.77	-36.31	3.85	-44.21	573.85
Net Income, 1 Yr. Growth %	-4.77	-36.31	3.85	-44.21	573.85
Normalized Net Income, 1 Yr. Growth %	0.53	-23.31	-6.84	-46.49	585.78
Diluted EPS Before Extra, 1 Yr. Growth %	-4.81	-36.31	3.85	-44.21	573.85
Accounts Receivable, 1 Yr. Growth %	12.93	40.78	0.82	6.31	62.04
Net Property, Plant and Equip., 1 Yr. Growth %	-1.29	27.22	1.36	5.49	19.32
Total Assets, 1 Yr. Growth %	-8.49	11.91	7.93	12.77	26.88
Tangible Book Value, 1 Yr. Growth %	6.51	1.59	3.22	1.21	33.63
Common Equity, 1 Yr. Growth %	6.69	2.98	6.45	4.35	30.36
Cash From Operations, 1 Yr. Growth %	-141.06	-312.17	-63.86	268.34	114.9
Capital Expenditures, 1 Yr. Growth %	-23.9	288.9	-13.06	100.97	-33.04
Levered Free Cash Flow, 1 Yr. Growth %	-131.46	-234.25	-75.18	366.44	85.28
Unlevered Free Cash Flow, 1 Yr. Growth %	-131.44	-234.4	-75.15	365.78	85.27
Dividend Per Share, 1 Yr. Growth %	-8	-36.96	9.71	-59.98	292.67
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	11.78	-7.8	8.32	32.74	43.76
Gross Profit, 2 Yr. CAGR %	11.89	-7.73	8.38	32.88	39.63
EBITDA, 2 Yr. CAGR %	21.77	-11.2	-13.61	-25.84	86.28
EBITA, 2 Yr. CAGR %	22.73	-11.83	-14.36	-29.72	88.38
EBIT, 2 Yr. CAGR %	22.73	-11.84	-14.37	-29.72	88.39
Earnings From Cont. Operations, 2 Yr. CAGR %	24.1	-22.12	-18.67	-23.88	93.89
Net Income, 2 Yr. CAGR %	24.1	-22.12	-18.67	-23.88	93.89
Normalized Net Income, 2 Yr. CAGR %	22.58	-12.2	-15.48	-29.39	91.57
Diluted EPS Before Extra, 2 Yr. CAGR %	24.06	-22.14	-18.67	-23.95	93.89
Accounts Receivable, 2 Yr. CAGR %	7.99	26.09	19.14	3.53	28.08
Net Property, Plant and Equip., 2 Yr. CAGR %	0.24	12.06	13.56	3.41	12.2
Total Assets, 2 Yr. CAGR %	9.81	1.2	9.9	10.33	19.62
Tangible Book Value, 2 Yr. CAGR %	9.24	4.02	2.4	2.21	16.3
Common Equity, 2 Yr. CAGR %	9.27	4.82	4.7	5.39	16.63
Cash From Operations, 2 Yr. CAGR %	-15.49	-6.66	-12.43	15.38	159.2
Capital Expenditures, 2 Yr. CAGR %	-11.82	72.03	83.87	32.18	16
Levered Free Cash Flow, 2 Yr. CAGR %	-13.69	-35.06	-42.44	7.59	193.85
Unlevered Free Cash Flow, 2 Yr. CAGR %	-13.72	-35.04	-42.37	7.59	193.64
Dividend Per Share, 2 Yr. CAGR %	17.47	-23.84	-16.83	-33.74	25.36
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	11.97	2.68	4.81	15.09	40.99
Gross Profit, 3 Yr. CAGR %	12.18	2.74	4.9	15.16	38.34
EBITDA, 3 Yr. CAGR %	21.07	4.95	-8.94	-24.67	49.34
EBITA, 3 Yr. CAGR %	21.9	5.19	-9.65	-27.53	50.03
EBIT, 3 Yr. CAGR %	21.9	5.19	-9.65	-27.53	50.03
Earnings From Cont. Operations, 3 Yr. CAGR %	27.62	-0.64	-14.28	-28.27	57.46
Net Income, 3 Yr. CAGR %	27.62	-0.64	-14.28	-28.27	57.46
Normalized Net Income, 3 Yr. CAGR %	21.92	4.84	-10.45	-27.42	50.64
Diluted EPS Before Extra, 3 Yr. CAGR %	27.58	-0.66	-14.29	-28.32	57.36
Accounts Receivable, 3 Yr. CAGR %	6.4	17.97	17.03	14.7	18.26
Net Property, Plant and Equip., 3 Yr. CAGR %	-1.57	8.53	8.38	10.8	8.46
Total Assets, 3 Yr. CAGR %	8.37	10.5	3.4	10.85	15.59
Tangible Book Value, 3 Yr. CAGR %	6	6.63	3.76	2.01	11.76
Common Equity, 3 Yr. CAGR %	6.53	7.13	5.36	4.58	13.13
Cash From Operations, 3 Yr. CAGR %	22.9	14.86	-31.97	41.35	34.41
Capital Expenditures, 3 Yr. CAGR %	-7.46	44.61	37.03	89.4	5.37
Levered Free Cash Flow, 3 Yr. CAGR %	10.56	-0.05	-52.96	15.62	28.93
Unlevered Free Cash Flow, 3 Yr. CAGR %	10.53	-0.03	-52.93	15.66	28.92
Dividend Per Share, 3 Yr. CAGR %	17.53	-4.54	-13.99	-34.83	19.91
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	7.22	2.68	10.49	13.75	18.93
Gross Profit, 5 Yr. CAGR %	7.46	2.8	10.64	13.84	17.62
EBITDA, 5 Yr. CAGR %	9.63	3.18	5.78	-8.71	21.24
EBITA, 5 Yr. CAGR %	9.75	3	5.84	-10.53	21.22
EBIT, 5 Yr. CAGR %	9.75	3	5.84	-10.53	21.22
Earnings From Cont. Operations, 5 Yr. CAGR %	14.46	2.53	6.57	-10.69	18.82
Net Income, 5 Yr. CAGR %	14.46	2.53	6.57	-10.69	18.82
Normalized Net Income, 5 Yr. CAGR %	9.77	2.85	5.3	-10.49	21.39
Diluted EPS Before Extra, 5 Yr. CAGR %	14.43	2.51	6.55	-10.73	18.76
Accounts Receivable, 5 Yr. CAGR %	12.39	11.21	11.32	11.96	21.33
Net Property, Plant and Equip., 5 Yr. CAGR %	3.09	5.2	4.23	6.45	9.89
Total Assets, 5 Yr. CAGR %	6.09	8.42	8.98	10.43	9.6
Tangible Book Value, 5 Yr. CAGR %	4.73	4.25	4.54	4.84	8.6
Common Equity, 5 Yr. CAGR %	4.96	4.86	5.8	6.43	9.73
Cash From Operations, 5 Yr. CAGR %	18.93	64.91	7.32	15.07	16.17
Capital Expenditures, 5 Yr. CAGR %	0.83	24.97	21.79	39.5	28.19
Levered Free Cash Flow, 5 Yr. CAGR %	8.79	44.73	-14.87	2.83	-2.11
Unlevered Free Cash Flow, 5 Yr. CAGR %	8.74	44.67	-14.84	2.84	-2.1
Dividend Per Share, 5 Yr. CAGR %	33.54	3.01	2.35	-17.51	0