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The BSE, founded in 1875, is Asia's oldest stock exchange — it started under a banyan tree on Dalal Street, where the bronze bull stands today.
History
The BSE, founded in 1875, is Asia's oldest stock exchange — it started under a banyan tree on Dalal Street, where the bronze bull stands today.
The BSE, founded in 1875, is Asia's oldest stock exchange — it started under a banyan tree on Dalal Street, where the bronze bull stands today.
Multi Commodity Exchange of India Limited is a commodity derivatives exchange. The Company facilitates online trading of commodity futures and options, data feed subscription and membership. It offers a platform for trading in varied commodity derivative contracts across…
Weekly engine runs — movement reflects the numbers, not analyst opinion.
A high-quality, fast-growing business, priced for perfection.
MULTI COMMODITY EXCHANGE is scored on the nbfc / financials framework. It keeps a fat 54.8% of every rupee of sales as net profit.
Over the last 3 years revenue compounded at 61%/yr and profit at 108%/yr. Book value itself has compounded 24%/yr — the hallmark of a genuine compounder. Return on equity is an elite 51.2%. In the latest quarter profit fell 22% versus the prior quarter.
At 68× earnings, the stock sits at the 100th percentile of its own 3.6-year range — the expensive end of where it has historically traded. Today's price already implies ~22%/yr earnings growth sustained for a decade — a demanding bar. The books come through clean — a forensic grade of A.
A plain-English restatement of the figures on this page — rules-based, for education and research context, not investment advice or a recommendation.
| Ratio | Company | Sector | Read |
|---|---|---|---|
| P/E | 49.98 | 41.49 | worse |
| P/B | 25.6 | 13.81 | worse |
| EV/EBITDA | 33.97 | 27.28 | worse |
| ROE | 51.22 | 32.22 | better |
| ROCE | 65.14 | 41.63 | better |
| ROA | 23.1 | 18.45 | better |
| Quick Ratio | 1.31 | 1.93 | worse |
| Peer | P/E | P/B | ROE |
|---|---|---|---|
| BSE | 50.5 | 19.5 | 38.8% |
| CDSL | 55.2 | 14.0 | 25.5% |
| Computer AGE MNGT SER | 34.8 | 12.3 | 35.5% |
Not applicable for this sector.
Revenue has grown every year across all 4 financial years shown. 61% CAGR over 3 years — high-growth territory. Growth is accelerating — latest year outpaced the prior year's rate.
Profit is growing faster than revenue (108% vs 61%) — margin expansion is at work. The latest year saw a +138% swing — check if it's a one-off or structural.
Operating margin has expanded from 33% to 70% — the business is keeping more of each rupee earned. The gap between operating and net margin is widening — interest or tax costs are rising.
ROE at 47% — the business earns well above its cost of equity. ROE powered by fat margins — the hallmark of a high-quality franchise with pricing power. Capital efficiency improving — ROE up 37pp across the window.
Profit grew faster than EPS (108% vs 21%) — share dilution is eroding per-share value. 21% EPS CAGR — this is the rate at which each share's claim on earnings is compounding.
Operating cash flow has been positive every year — the business generates real cash, not just accounting profit. Cash conversion at 2.3× PAT — earnings are well-backed by cash; strong accrual quality. Heavy investing spend every year, but operations generate enough to cover it — the business self-funds its growth.
When operating cash keeps pace with reported profit, earnings are cash-backed; a persistent shortfall is a quality flag.
Revenue fell 19% QoQ — could be seasonality or a genuine slowdown. Wide quarterly swings (57% spread) — likely seasonality, lumpy orders, or project-based revenue. Run-rate stepping up — recent quarters average 53% above earlier ones.
Profit fell 22% QoQ — one-quarter drops can be noise, but a pattern matters. Quarterly net margins are expanding (49% → 55%) — profitability per rupee of revenue is improving.
How today's P/E compares to the stock's own historical range. Dashed line = the 3.6y median.
FII stake up 6.4pp over 4 quarters — growing foreign interest. MF stake down 2.9pp — domestic funds are booking profits or rebalancing out.
Produced by a rules-based engine over licensed exchange fundamentals — every sentence above is derived from the numbers shown, no analyst or AI opinion involved. Education and research context, not investment advice. We are not SEBI-registered as an Investment Adviser or Research Analyst.