Company Valuation: Multi Commodity Exchange of India Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 72,186 77,339 170,824 270,891 609,278 832,166 - -
Change - 7.14% 120.88% 58.58% 124.92% 36.58% - -
Enterprise Value (EV) 1 54,298 62,554 158,054 251,874 583,909 799,174 788,858 776,125
Change - 15.2% 152.67% 59.36% 131.83% 36.87% -1.29% -1.61%
P/E 50.2x 51.8x 205x 48.4x 45.8x 48.4x 40.8x 34.8x
PBR 5.09x 5.22x 12.4x 14.4x 21.4x 21.1x 16.1x 13.1x
PEG - 13.39x -4.6x 0x 0x 1.7x 2.2x 2x
Capitalization / Revenue 19.7x 15.1x 25x 24.3x 26.5x 28.3x 23.8x 21x
EV / Revenue 14.8x 12.2x 23.1x 22.6x 25.4x 27.1x 22.5x 19.5x
EV / EBITDA 33.5x 41.8x 246x 37.9x 35.5x 38.5x 31.4x 27.2x
EV / EBIT 38.9x 48.8x 557x 41.9x 37.2x 38.8x 31.8x 27.8x
EV / FCF 17.6x 89.2x 41.8x 29.5x 19.7x 35.2x 31.6x 26.6x
FCF Yield 5.7% 1.12% 2.39% 3.39% 5.07% 2.84% 3.17% 3.76%
Dividend per Share 2 3.48 3.818 1.528 6 8 35.91 35.16 37.87
Rate of return 1.23% 1.26% 0.23% 0.56% 0.33% 1.1% 1.08% 1.16%
EPS 2 5.636 5.854 3.26 21.96 52.22 67.43 80.06 93.9
Distribution rate 61.7% 65.2% 46.9% 27.3% 15.3% 53.3% 43.9% 40.3%
Net sales 1 3,668 5,135 6,836 11,127 23,020 29,445 34,991 39,707
EBITDA 1 1,622 1,497 643.1 6,653 16,466 20,784 25,100 28,503
EBIT 1 1,395 1,281 283.8 6,016 15,685 20,614 24,800 27,940
Net income 1 1,434 1,490 831.1 5,600 13,316 17,225 20,397 23,926
Net Debt 1 -17,888 -14,786 -12,770 -19,017 -25,369 -32,992 -43,308 -56,041
Reference price 2 283.09 303.30 669.92 1,062.35 2,389.40 3,263.50 3,263.50 3,263.50
Nbr of stocks (in thousands) 254,992 254,992 254,992 254,992 254,992 254,992 - -
Announcement Date 5/16/22 5/20/23 4/23/24 5/8/25 5/8/26 - - -
1INR in Million2INR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
49.31x27.67x39.21x1.08% 8.85B
22.42x13.56x19.02x4.49% 95.1B
28.89x7.96x14.62x0.58% 21.35B
22.22x8.91x13.95x3.51% 15.13B
40.1x19.07x28.08x0.85% 13.58B
21.68x7.56x13.28x3.46% 7.82B
39.48x13.59x47.14x1.61% 3.9B
13.19x-1276.18x-2541.16x - 3.46B
15.84x11.07x11.47x4.73% 3.05B
Average 28.13x -129.64x -261.60x 2.54% 19.14B
Weighted average by Cap. 26.03x -12.63x -31.46x 3.33%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

  1. Stock Market
  2. Stocks
  3. MCX Stock
  4. Valuation Multi Commodity Exchange of India Limited