MCX - Q3FY21 First Cut - ICICI Direct

(CMP: Rs. 1680, MCap: Rs. 8569 crore)

MCX reported healthy operational performance on YoY, though sequential decline was witnessed due to up-front margin requirement.

Q3FY21 Earnings Summary

- Turnover of commodity futures contracts increased 4% YoY to Rs. 21.4 lakh crore in Q3FY21. Upfront margin requirement kicking in from December 2020 has impacted turnover in December 2020, leading to 17.3% QoQ decline in turnover.

- Topline growth was 13% YoY to Rs. 100.9 crore, primarily on account of healthy realisation. Lower G-sec yields and increase in bond prices led other income at Rs. 24.8 crore.

- EBIDTA for the quarter came in at Rs. 48.7 crore, up 24% YoY, though sequential declined 25.8%. Subsequently, EBITDA margin increased ~430 bps YoY to 48.2%

- Healthy EBITDA coupled with negative taxation led earnings growth at 29.8% YoY to Rs. 71.8 crore. PAT margin stood at 71.2% in Q3FY21 vs 62% in Q3FY20

We will be coming out with a detailed report soon.

Shares of MULTI COMMODITY EXCHANGE OF INDIA LTD. was last trading in BSE at Rs.1680.3 as compared to the previous close of Rs. 1670.7. The total number of shares traded during the day was 19386 in over 1528 trades.

The stock hit an intraday high of Rs. 1714 and intraday low of 1663.45. The net turnover during the day was Rs. 32729013.

Source : Equity Bulls

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