ThinkStock Photos Securities has buy call on Multi Commodity Exchange of India with a target price of Rs 2070. The current market price of . is Rs 1503.
Multi Commodity Exchange of India Ltd., incorporated in the year 2002, is a Mid Cap company (having a market cap of Rs 7504.92 Crore) operating in Financial Services sector.
Ltd. key Products/Revenue Segments include Fees & Other Charges and Other Operating Revenue for the year ending 31-Mar-2022.
Financials
For the quarter ended 30-09-2022, the company reported a Consolidated Total Income of Rs 145.64 Crore, up 23.37 % from last quarter Total Income of Rs 118.05 Crore and up 46.73 % from last year same quarter Total Income of Rs 99.26 Crore. Company reported net profit after tax of Rs 64.62 Crore in latest quarter.
Investment Rationale
The brokerage maintains BUY on , following better-than-expected revenue and margin performances, led by options. The options ADTV has witnessed strong growth of +61% QoQ in the quarter and is up ~5x YoY. There is no sign of weakness, Oct-22 options ADTV is at INR 347bn, and it is trending above the Q2 level.
Promoter/FII Holdings
Promoters held 0 per cent stake in the company as of 30-Jun-2022, while FIIs owned 28.51 per cent, DIIs 46.93 per cent.
Multi Commodity Exchange of India Ltd., incorporated in the year 2002, is a Mid Cap company (having a market cap of Rs 7504.92 Crore) operating in Financial Services sector.
Ltd. key Products/Revenue Segments include Fees & Other Charges and Other Operating Revenue for the year ending 31-Mar-2022.
Financials
For the quarter ended 30-09-2022, the company reported a Consolidated Total Income of Rs 145.64 Crore, up 23.37 % from last quarter Total Income of Rs 118.05 Crore and up 46.73 % from last year same quarter Total Income of Rs 99.26 Crore. Company reported net profit after tax of Rs 64.62 Crore in latest quarter.
Investment Rationale
The brokerage maintains BUY on , following better-than-expected revenue and margin performances, led by options. The options ADTV has witnessed strong growth of +61% QoQ in the quarter and is up ~5x YoY. There is no sign of weakness, Oct-22 options ADTV is at INR 347bn, and it is trending above the Q2 level.
Promoter/FII Holdings
Promoters held 0 per cent stake in the company as of 30-Jun-2022, while FIIs owned 28.51 per cent, DIIs 46.93 per cent.
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