MCX Delivers Strong Q1; Announces 1:5 Stock Split to Boost Retail Participation

83% profit growth, 59% revenue jump, and stock split proposal drive investor enthusiasm

Multi Commodity Exchange of India (MCX) has delivered a robust start to FY26, reporting a strong Q1 performance and proposing a 1:5 stock split to improve stock accessibility for retail investors. The stock surged over 5% on August 4, lifting the Nifty Capital Markets index by nearly 2% in morning trade.

MCX’s Q1 net profit rose 83% year-on-year to ₹203 crore, while revenue from operations grew 59% to ₹373 crore, supported by improved trading activity and operational efficiency. EBITDA came in at ₹274 crore, marking a significant improvement over last year.

The company’s board has approved a stock split in the ratio of 1:5, reducing the face value from ₹10 to ₹2 per share. Subject to shareholder and regulatory approvals, the move aims to enhance liquidity and retail participation.

The announcement triggered positive momentum across the capital markets space. Stocks like CDSL, Aditya Birla Sun Life AMC, CAMS, and Anand Rathi Wealth gained up to 3% intraday.

Despite the strong performance, Morgan Stanley maintained an ‘underweight’ rating on MCX with a target price of ₹5,750, citing valuation concerns and revenue concentration. The stock currently trades at ₹7,994.50, up 36% over the past six months, but down nearly 10% in the last month.

MCX operates India’s leading commodity derivatives platform, offering trading in diverse segments such as metals, energy, and agri-commodities. The company plays a key role in deepening India’s commodity markets and improving price discovery mechanisms.

This article is intended for informational purposes only and should not be considered as investment advice.