Multi Commodity Exchange of India Limited delivered record financial results for the quarter and financial year ended March 31, 2026, with consolidated Profit After Tax (PAT) more than doubling to Rs. 1,332 crores, representing a 138% YoY increase. The Board of Directors approved the audited standalone and consolidated financial results at their meeting held on May 08, 2026. Pursuant to Regulation 30 and 47 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the results were published in Navshakti (Marathi) on May 09, 2026, and subsequently in The Economic Times (English), Hindu Business Line (English), and Dainik Bhaskar (Hindi) on May 10, 2026. An investor presentation for the quarter and year ended March 31, 2026, was filed under Regulation 30 on May 11, 2026. The Board also recommended a final dividend of Rs. 8 per share (face value of Rs. 2 per share), subject to shareholder approval at the ensuing AGM.

Record Full-Year Financial Performance

MCX's consolidated financials for FY26 reflect broad-based growth across all key metrics. Total Income reached Rs. 2,429 crores, up 101% YoY, while Revenue from Operations stood at Rs. 2,302 crores, a 107% YoY increase. EBITDA expanded 133% YoY to Rs. 1,774 crores, with the EBITDA margin improving to 73% from 63% in FY25. Earnings per share (basic & diluted) stood at Rs. 52.22 for FY26, compared to Rs. 21.96 in FY25, while Book Value per share was Rs. 111.69 versus Rs. 73.90 in FY25. Average Daily Turnover (F&O) rose 145% YoY to Rs. 5.4 lakh crores, underscoring significant growth in trading activity across segments.

The following table summarises the consolidated Profit & Loss performance:

Standalone Financial Performance

On a standalone basis, MCX also delivered strong growth. Standalone Revenue from Operations for FY26 stood at Rs. 2,153.67 crores, up 113% YoY, while Total Income reached Rs. 2,281.76 crores, a 106% YoY increase. Standalone EBITDA for FY26 was Rs. 1,449.63 crores with an EBITDA margin of 64%, compared to Rs. 615.83 crores and 56% in FY25. Standalone PAT for FY26 stood at Rs. 1,029.04 crores, up 148% YoY, with an EPS of Rs. 40.36 versus Rs. 16.27 in FY25.

The following table summarises the standalone Profit & Loss performance:

Strong Q4 FY26 Performance

For Q4 FY26, MCX posted consolidated Revenue from Operations of Rs. 888.94 crores, registering growth of approximately 205% over Q4 FY25. Consolidated EBITDA for Q4 FY26 stood at Rs. 702.52 crores with an EBITDA margin of 76%, compared to Rs. 189.35 crores and 59% in Q4 FY25. Consolidated PAT for Q4 FY26 stood at Rs. 529.77 crores, reflecting approximately 291% YoY growth. On a sequential basis, Revenue from Operations grew 34% over Q3 FY26. Futures ADT for Q4 FY26 was Rs. 90,199 crores, up 111% YoY, while Options ADT (Notional) reached Rs. 5,75,387 crores, up 160% YoY.

Key Business and Operational Highlights

MCX ranked as the world's largest Commodity Options Exchange and the 4th largest Commodity Exchange as per FIA data for 2025, measured by number of contracts, commanding over 99% share across bullion, base metals, and energy. Growth was primarily driven by Bullion and Energy segments. The following table highlights ADT growth across segments for Q4 FY26:

Key operational highlights for FY26 include:

• ADT (F&O) YoY Growth: Bullion – 496%, Metals – 116%, Energy – 29%
• Balanced Revenue Mix: Future revenue – Rs. 693 crores, up 136% YoY; Option revenue – Rs. 1,398 crores, up 109% YoY
• New Products Launched: Electricity Futures, BULLDEX Options, Cardamom Futures, Nickel Futures, Gold Ten Futures, Gold Monthly Options, Silver Monthly Options
• Participation Growth: Traded clients (F&O) increased to 20.90 lakhs in FY26 from 13 lakhs in FY25
• Delivery-Driven Contracts: Gold – 21 MT; Silver – 401 MT; Base Metals – 95,781 MT
• Distribution: 583 Members, 32,044 Authorised Participants and 4.65 crore UCC as on March 31, 2026

The following table highlights the ADT growth trajectory over recent fiscal years:

MCX also launched a focused initiative — 'Price in India: Hedge in India' — aimed at promoting and deepening hedging participation in India's commodity derivatives ecosystem.

Indian Commodities Market Expansion

The Indian commodities derivatives market has witnessed rapid expansion, with total market value growing from INR 151 TN in FY23 to INR 1,388 TN in FY26. The following table illustrates the market growth:

In terms of Q4 FY26 Futures Turnover composition, Gold and Silver together accounted for 77% of total futures turnover, with Gold at 43% and Silver at 34%.

Shareholding and Investor Information

As on March 31, 2026, the shareholding structure of MCX was as follows:

The number of shares outstanding stood at 50.998 million. The 52-week high/low on BSE was Rs. 13,530/Rs. 4,527, with a market capitalisation of Rs. 609.44 billion. The Core Settlement Guarantee Fund stood at Rs. 1,367 crores as on March 31, 2026.

Technology and Operational Resilience

MCX continued to strengthen its technology infrastructure and cyber resilience during FY26. Systems handled a sharp increase in trading volumes while maintaining stability and scalability. Cyber risk management was enhanced through proactive monitoring and strengthened security protocols. The exchange also successfully managed unexpected market surges driven by macro-economic events, scaling operations across delivery, surveillance, compliance, and risk management functions. MCX Clearing Limited, a 100% subsidiary of MCX, holds ISO 27001:2022, 9001:2015, and 22301:2019 certifications, and has 239 Clearing Members with 10 clearing banks empanelled for funds settlement.

About MCX

Multi Commodity Exchange of India Ltd. is India's leading Commodity Derivatives Exchange and the largest Commodity Options Exchange globally (FIA, 2024). Operational since 2003, MCX holds a market share of over 98% in terms of the value of commodity futures contracts traded in financial year 2025-26. The exchange offers trading across bullion, energy, metals, agri commodities, and sectoral commodity indices, and has forged strategic alliances with international exchanges as well as Indian and international trade associations.

Brokerage firm Zerodha has reported intermittent technical issues at MCX Exchange, noting that the disruptions are affecting brokers and leading to potential order rejections as well as delayed order status updates.

Technical Disruptions at MCX Exchange

According to Zerodha, the issues are originating at the exchange level and are not isolated to a single broker. The intermittent nature of the disruptions means that order flow and status confirmations may be inconsistently impacted across participants connected to the MCX platform.

Impact on Brokers and Traders

The key concerns flagged by Zerodha include the following:

• Order Rejections: Traders may experience potential rejections when placing orders on the MCX Exchange.
• Delayed Status Updates: Order status confirmations are being reported as delayed, creating uncertainty for market participants regarding the execution of their trades.
• Broker-Wide Impact: The issues are affecting multiple brokers, indicating a systemic concern at the exchange infrastructure level rather than an isolated incident.

Key Details at a Glance

The following table summarizes the reported disruption details as communicated by Zerodha:

Market participants trading on the MCX Exchange are advised to remain cautious and monitor their order statuses closely during this period of reported disruption. No further details regarding the timeline for resolution have been provided in the available information.