MCX Q4FY26: Strong Earnings Growth with Margin Expansion

Key Highlights • PAT: ₹529.77 Cr (↑291.1% YoY, ↑32.1% QoQ) • Revenue: ₹888.94 Cr (↑205.1% YoY, ↑33.6% QoQ) • EBITDA: ₹666.13 Cr (↑315.8% YoY, ↑34.5% QoQ) • EBITDA Margin: 74.94% (vs 54.99% YoY, 74.39% QoQ) Profitability • PBT: ₹681.79 Cr (↑305.1% YoY, ↑35.5% QoQ) • Other Income: ₹36.39 Cr (↑ YoY & QoQ) Shareholder Return • Dividend: ₹8 per share What Stands Out • Exceptional growth across revenue and profitability • Massive margin expansion reflects operating leverage • Strong sequential momentum in trading activity Why It Matters Higher trading volumes and strong operating efficiency are driving earnings growth, reinforcing MCX’s leadership in commodity derivatives. Learning Outcome Exchange businesses benefit heavily from operating leverage—higher trading activity can significantly boost margins and profits.