Securities has buy call on . with a target price of Rs 1900. The current market price of is Rs 1326. Time period given by analyst is one year when Multi Commodity Exchange of India Ltd. price can reach defined target.
Multi Commodity Exchange of India Ltd., incorporated in the year 2002, is a Mid Cap company (having a market cap of Rs 6785.08 Crore) operating in Financial Services sector.
Multi Commodity Exchange of India Ltd. key Products/Revenue Segments include Fees & Other Charges and Other Operating Revenue for the year ending 31-Mar-2021.
Financials
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 118.05 Crore, down -2.47 % from last quarter Total Income of Rs 121.04 Crore and up 8.36 % from last year same quarter Total Income of Rs 108.94 Crore. Company reported net profit after tax of Rs 42.10 Crore in latest quarter.
Investment Rationale
The brokerage estimate a 8/145% futures/options ADTV CAGR over FY22-24E, resulting in +26/+45% revenue/EBITDA CAGRs over FY22-24E. The change in technology vendor should lead to a cost-benefit of INR 0.20bn in FY24E, resulting in ~500 bps of margin expansion.
Promoter/FII Holdings
Promoters held 0 per cent stake in the company as of 31-Mar-2022, while FIIs owned 28.19 per cent, DIIs 46.66 per cent.
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