Multi Commodity Exchange of India (MCX) Q2 25/26 earnings summary

Executive summary

• Q2 FY26 consolidated total revenue reached INR 401 crores, up 29% year-over-year, with EBITDA at INR 270 crores (up 32%) and profit after tax at INR 197 crores (up 29%).

• Average daily turnover (ADT) rose to INR 4.11 lakh crores, with options ADT up 91% year-over-year, reflecting strong market activity.

• H1 FY26 consolidated operating income increased 44% year-over-year to INR 747.44 crores, with PAT up 51% to INR 400.66 crores.

• New product launches included monthly options on silver, fresh futures in cardamom and nickel, and the MCX Buldex index.

• Technology infrastructure enhancements and product suite expansion remain priorities.

Financial highlights

• Revenue from futures was INR 114 crores and from options INR 223 crores for Q2.

• Q2 FY26 EBITDA margin was 67%, with net profit margin at 49%.

• Book value per share reached INR 409, up from INR 311 a year ago.

• Standalone Q2 FY26 PAT was INR 156.43 crores, up 42% year-over-year.

• Basic and diluted consolidated EPS for Q2 FY26 was INR 38.72.

Outlook and guidance

• Optimism about growth trajectory, with ongoing product launches, technology upgrades, and regulatory engagement.

• Pipeline of new commodity products under regulatory review, with launches expected as approvals are received.

• Technology investments will continue in line with volume growth, but no significant increase in CapEx is anticipated.