MCX Share Price Today: Stock Gains After Strong Q2 Results; Net Profit Surges 28%, Revenue Up 31% YoY

Shares of Multi Commodity Exchange of India Ltd (MCX) were in focus today after the country's largest commodity derivatives exchange announced its Q2 FY26 results, reporting a sharp year-on-year rise in both revenue and net profit. Despite opening about 5% lower in early trade, the MCX share price recovered.

MCX Q2 FY26 Results

For the second quarter of FY26, Multi Commodity Exchange of India (MCX) reported a standalone net profit of Rs. 197.47 crore, marking a 28.5% year-on-year (YoY) increase compared to Rs. 153.62 crore in the same quarter last year.

The company's revenue from operations surged 31% YoY to Rs. 374.23 crore from Rs. 285.58 crore in Q2 FY25,
On a consolidated, quarter-on-quarter (QoQ) basis, MCX's revenue rose marginally by 0.3% to Rs. 374 crore versus Rs. 373 crore in the previous quarter. EBITDA climbed 0.8% QoQ to Rs. 244 crore, maintaining a healthy EBITDA margin of 65.1%, nearly flat compared to 64.8% in Q1 FY26.

However, the net profit fell 2.8% sequentially from Rs. 203 crore in Q1 FY26 due to higher operational costs and technology-related expenses.

HDFC Securities Sets Target Price at Rs. 10,000

Analysts remain optimistic about MCX's medium-term growth outlook. According to HDFC Securities, MCX is well-positioned to benefit from new product launches and regulatory tailwinds.

The brokerage in its report said that the upcoming launch of cash-settled index contracts like Metldex and Bulldex could boost trading volumes and attract greater participation from foreign portfolio investors (FPIs) and domestic institutions.

"SEBI's indication to allow FPI and domestic institutional participation in non-cash settled commodities is a positive step, especially given MCX's current FPI volume share of only 3% compared to 20% for equity exchanges," HDFC Securities noted.

The brokerage has maintained a BUY rating on MCX stock, raising the target price to Rs. 10,000 based on 46x Sep-27E core EPS, after increasing its revenue and EPS estimates by 7-9%.

MCX Share Price Today

As of 1:30 PM, shares of Multi Commodity Exchange of India Ltd (MCX) were trading at Rs. 9,393, up Rs. 142.50 or 1.54% .The stock has shown remarkable momentum in recent months gaining 14.42% over the past month and soaring nearly 55.08% in the last six months.

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