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MCX METAL & ENERGY Trade with Trust Q1 FY27 Multi Commodity Exchange of India Limited Investor Presentation www.mcxindia.com
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MCX | Q1 FY27 Investor Presentation 01 T H E Q U A R T E R I N R E V I E W Sustaining Growth, Building Momentum How Q1 FY27 reads against last year and last quarter
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MCX | Q1 FY27 Investor Presentation Q 1 F Y 2 7 H I G H L I G H T S Steady growth momentum 03 · T O T A L I N C O M E ₹ 752 Cr +85% YoY vs ₹406 Cr in Q1 FY26 E B I T D A ₹ 544 Cr +98% YoY margin 72% (Q1 FY26: 68%) P R O F I TA F T E R T A X ₹413 Cr +103% YoY vs ₹203 Cr in Q1 FY26 O P E R A T I N G R E V E N U E ₹ 702 Cr +88% YoY vs ₹ 373 Cr in Q1 FY26 F U T U R E S A D T ₹ 59,674 Cr +47% YoY vs ₹ 40,547 Cr in Q1 FY26 O P T I O N S A D T ₹ 989,691 Cr +266% YoY notional vs ₹270,228 Cr in Q1 F26 P B T ₹ 523 Cr +104% YoY vs ₹ 257 Cr in Q1 FY26 E P S ₹ 16.21 +103% YoY vs ₹ 7.97 per share in Q1 FY26 C O R E S G F ₹ 1,444 Cr
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MCX | Q1 FY27 Investor Presentation 34.5% 29.7% 16.6% 8.8% 7.7% 1.4% 1.1% 0.1% GOLD SILVER CRUDE OIL NATURAL GAS COPPER ALUMINIUM ZINC Other63 52 71 166 3988 229 508 1,222 642 FY23 FY24 FY25 FY26 Q1 FY27 Futures Options Indian Commodities Derivatives Market: Growth Trends Q 1 F Y 2 7 H I G H L I G H T S I N D I A N C O M M O D I T I E S M A R K E T I N T E R M S O F V A L U E ( I N R T N ) Source: SEBI; Respective Exchanges’ websites M C X C O M M O D I T I E S F U T U R E S T U R N O V E R % Q 1 F Y 2 7 Gold + Silver = 77% of Futures TurnoverMCX continues to command over 99% share across bullion, base metals and energy. K e y T a k e a w a y s
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MCX | Q1 FY27 Investor Presentation ADT Futures and Options Q 1 F Y 2 7 H I G H L I G H T S Q1 FY27 Avg. Daily Turnover (ADT) driven by Bullion and Energy K e y T a k e a w a y s A D T - F U T U R E S ( I N R C r o r e ) A D T - O P T I O N S ( I N R C r o r e ) 19,636 27,153 64,407 59,674 FY 24 FY 25 FY 26 Q1 FY 27 89,243 191,909 471,641 989,691 1,698 3,131 6,534 9,086 FY 24 FY 25 FY 26 Q1 FY 27 ADT Option (Notional) ADT Option (Premium)
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MCX | Q1 FY27 Investor Presentation O P E R A T I O N A L H I G H L I G H T S Reach, Members, Turnover A V E R A G E D A I L Y T U R N O V E R — F U T U R E S & O P T I O N S ( ₹ L A K H C R O R E ) 238% YoY 597 Members 29,474 Authorised Persons 646 Cities / Towns Reached 4.05 Cr Unique Client Codes All data as on June 30, 2026. ADT excludes Muhurat Trading Day; single-side turnover. 3.11 6.66 10.49 Q1 FY26 Q4 FY26 Q1 FY27
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MCX | Q1 FY27 Investor Presentation P A R T I C I P A T I O N H I G H L I G H T S O P T I O N S P R E M I U M A D T Participation details Q1 FY26 Q4 FY26 Q1 FY27 Futures Options Futures Options Futures Options Client Trading % 52.37 43.16 47.5 41.68 50.96 39.25 Traded Clients (in Lakh) FY24 FY25 FY26 Q1 FY26 Q4 FY26 Q1 FY27 FUTURES 4.0 4.8 7.6 2.5 4.7 4.12 OPTIONS 7.3 10.7 17.6 5.7 11.5 11.7 F&O 9.3 13 20.9 7.03 13.9 13.72
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MCX | Q1 FY27 Investor Presentation O P E R A T I O N A L H I G H L I G H T S Breakdown of Turnover Average Daily Turnover (₹ Cr) Fut & Opt Q1 FY27 Q4 FY26 Q1 FY26 QoQ % YoY % Bullion 7,19,959 384,722 136,582 87% 427% Energy 313,088 264,866 171,195 18% 83% Base Metals 16,313 15,983 2,992 2% 445% Agri 5 6 3 -20% 43% Index 0.30 9 4 -96% -93% Total 10,49,365 665,586 310,776 58% 238% B U L L I O N + E N E R G Y ~97% of total turnover — the two engines driving the book. Options Average Daily Turnover (₹ Cr) Q1 FY27 Q4 FY26 Q1 FY26 Growth QoQ% Growth YoY% Notional Premium Notional Premium Notional Premium Notional Premium Notional Premium Bullion 681,609 2,371 315,321 3,254 106,286 658 116% -27% 541% 260% Energy 297,913 6,647 252,138 7,265 163,664 3,584 18% -9% 82% 85% Base Metals 10,169 69 7,927 109 278 3.04 28% -37% 3564% 2168% Index Options 0.0016 0 0.0366 0.0 0 0 -96 - - - Total 989,691 9,086 575,387 10,628 270,228 4,245 72% -15% 266% 114% Average Daily Turnover (₹ Cr) Futures Q1 FY27 Q4 FY26 Q1 FY26 QoQ % YoY % Bullion 38,350 69,402 30,295 -45% 27% Energy 15,175 12,728 7,531 19% 102% Base Metals 6,144 8,056 2,714 -24% 126% Agri 5 6 3 -24% 43% Index 0.30 8 4 -96% -93% Total 59,674 90,200 40,547 -34% 47%
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MCX | Q1 FY27 Investor Presentation O P E R A T I O N A L H I G H L I G H T S Deliverable Metal Contracts O P T I O N S P R E M I U M A D T ▪ Witnessed deliveries of around 5.80 lakh tonnes of metals since their transition into compulsory delivery contracts ▪ Has designated warehouses in Thane, Raipur, Chennai, Kolkata and Palwal (NCR) Base Metals FY 25 FY 26 Q1 FY 27 (Apr - Jun) Q4 FY 26 (Jan - Mar) Q1 FY 26 (Apr - Jun) Aluminium 18,132 28,997 2,538 9,509 4,442 Copper 23,512 40,067 14,245 28,554 2,945 Lead 10,167 11,375 1,625 4,867 2,883 Nickel - 182 61.5 160.5 0 Zinc 17,572 15,161 2,230 2,826 2,229 Total 69,383 95,782 20,700 45,917 12,499 Note: All base metal contracts were converted into delivery-based settlement contracts from March 2019 onwards in a phased manner. (in MTs)Delivery (all variants) details:
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MCX | Q1 FY27 Investor Presentation O P E R A T I O N A L H I G H L I G H T S Cumulative Delivery Details (since inception) O P T I O N S P R E M I U M A D T Cumulative Bullion Delivery Details# (Since Inception) Commodities Start Year Units Quantity GOLD 2004 MT 83.48 GOLDGUINEA 2008 MT 2.33 GOLDM 2005 MT 87.47 GOLDPETAL 2011 MT 0.79 GOLDTEN 2025 MT 0.67 GOLD Cumulative Total MT 174.75 SILVER 2004 MT 5,621.19 SILVER100 2026 MT 2.08 SILVERM 2020 MT 439.98 SILVERMIC 2020 MT 249.20 SILVER Cumulative Total MT 6,312.45 Cumulative Metals & Agri Delivery Details# (Since Inception) Commodities Start Year Units Quantity ALUMINIUM 2019 MT 1,89,916 COPPER 2019 MT 1,68,265 LEAD 2019 MT 74,011 NICKEL 2019 MT 11,491.50 ZINC 2019 MT 1,44,429 COTTON 2011 000’BALES 2,903.60 COTTONCNDY 2023 CANDY 43,776 MENTHAOIL 2005 MT 47,371.12 RUBBER 2005 MT 2,598
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MCX | Q1 FY27 Investor Presentation 02 T H E C O M P A N Y B E H I N D T H E N U M B E R S India’s Leading Commodity Derivatives Exchange Our identity, our journey, and our momentum
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MCX | Q1 FY27 Investor Presentation O U R J O U R N E Y Two Decades of Building India's Commodity Market 2002 Incorporated 2003 Operations begin 2018 MCXCCL clearing live 2023 New CDP platform 2025-26 Record scale Corporate & Governance ▪ India's first listed exchange ▪ Member of IOSCO ▪ Board & top-management refresh Product & Platform ▪ MCXCCL — first commodity CCP ▪ First Options on Gold futures in India ▪ Base metals → compulsory delivery ▪ iCOMDEX sectoral indices ▪ Electricity derivatives — a first for India Global Partnerships ▪ Licensing: LME, NYMEX (CME Group), IEX ▪ MoU with CME Group ▪ Consultancy for Bangladesh's first exchange ▪ Joined MIIs to set up IIBX, GIFT City
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MCX | Q1 FY27 Investor Presentation S T R U C T U R A L T A I L W I N D S The Winds at Our Back Distribution ▪ Bank-sponsored broking entities now permitted ▪ Banks can act as Professional Clearing Members ▪ Member-level fungibility eases client onboarding Participation ▪ Mutual funds can access ETCDs via hybrid schemes ▪ Portfolio Managers permitted in commodity derivatives ▪ FPIs cleared to trade; DMA facility extended Indices & Options ▪ Commodity index options trading enabled ▪ New products across bullion, energy & metals ▪ Domestic brands empanelled for good delivery Other Initiatives ▪ Continued platform & technology modernisation ▪ Electricity derivatives — first in India ▪ Deeper institutional & global market linkages
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MCX | Q1 FY27 Investor Presentation G O V E R N A N C E Stewardship At The Top, An Experienced Board Dr. Harsh Kumar Bhanwala Chairman & Public Interest Director Mr. Chandra Shekhar Verma Public Interest Director Mr. Ashutosh Vaidya Public Interest Director • Former Chief Delivery & Operations Officer — Dell Services Worldwide • Former Director — Dell International Services India Pvt Ltd. • Former Member — NASSCOM Executive Council Ms. Sonu Bhasin Public Interest Director Dr. Navrang Saini Public Interest Director Mr. Arvind Kathpalia Non-Independent Director Mr. Mohan Narayan Shenoi Non-Independent Director Mr. Santosh Kumar Mohanty Public Interest Director • Independent Director — HDFC Bank & MFIN (SRO by RBI) • Member, Governing Board — IIM Rohtak • Former Chairman & MD — NABARD • Has over 39 years of experience • Former Chairman & MD — SAIL (Steel Authority of India) • Former additional charge CMD — NMDC • Currently Independent Director — reputed domestic & MNC companies • Former President — Axis Bank • Former leadership roles — Tata Capital, Yes Bank, ING Vysya Bank • Former Chairperson — Insolvency and Bankruptcy Board of India • Former Director General — Ministry of Corporate Affairs, GoI • Commissioned Officer — Territorial Army • Former Group Chief Risk Officer — Kotak Mahindra Bank • Former Group Head Operations, Technology & Finance — Kotak • Prior leadership at ANZ Grindlays & Standard Chartered Bank • Former President & COO — Kotak Mahindra Bank • Co-founder contributor — ICICI Bank (1994) & Kotak Mahindra Bank (2003) • 43+ years in the Banking industry Mr. Sanjay Rajpal Executive Director (Critical Operations) Mr. Manoj Jain Executive Director - Regulatory, Compliance, Risk Management & Investor Grievances • Former Technology Head at Amazon • Held Leadership positions in Finastra, Reliance Jio, Yodlee and Intuit. • Founded and led Ryatech Software for a decade building mobile technology products • Former WTM — SEBI • Former Commissioner of Income Tax • Directorship - Advanta Enterprises Ltd, Emmvee Photovoltaic Power Ltd, UPL Ltd, CAMS, Acuite Ratings & Research Ltd, LG Electronics India Ltd & SBI CDMDF Trustee Ltd. Ms. Praveena Rai Managing Director & CEO • Former Chief Operating Officer, National Payments Corporation of India. • Held leadership positions in Citi Group, HSBC and Kotak Mahindra Bank. • Has over all 30 years’ experience, including 20 years in financial services. • Previously with Axis Bank, IL&FS Sec. Ser. Ltd., NTT Data, Wipro, ICRA and SEBI. • 27+ years of domestic & global experience in Business Development, Product, Operations, IT Support & Relationship Management.
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MCX | Q1 FY27 Investor Presentation Senior Management Personnel L E A D E R S H I P Chief Financial Officer • Previously worked with National Securities Depository Limited (NSDL) and Care Ratings Ltd. as CFO. Prior to that he was associated with CRISIL Ltd., TCS and Deloitte • 28+ years of extensive experience Mr. Chandresh Shah Mr. Sunil Batra Chief Technology Officer • Previously worked with National Securities Depository Limited (NSDL) as CTO and prior to that he was working with TCS • 28+ years of extensive experience in IT Domain Mr. Sougat Ghosh Chief Information Security Officer & Data Protection Officer (CISO and DPO) • Previously with Nomura Services, HCL Technologies, CA Technologies, IBM Software Group, Nortel Networks and Primenet Global Services • 26+ years of experience in IT Security Domain Ms. Kavita Shrivastav Chief Human Resources Officer • Previously with Hitachi Payment Services, Piramal Capital, Tata Capital and Raymond Limited • 24+ years of professional experience across diverse sectors like Fintech, Financial Services, Retail and F&B Mr. Praveen DG Chief Risk Officer • Previously worked with MCX-SX & ICFAI – (Research Wing) • 26+ years of experience in financial markets. Head of Department – Base Metals • Previously with E&Y, Hindalco and Mecklai Financial • 30+ years of experience in financial and commodity risk management Ms. Manisha Thakur Company Secretary & Compliance Officer • Previously worked with MSEI, ICCL, ISE Sec. & Serv Ltd, DSP Merrill Lynch AMC, IL&FS and Investsmart India Ltd • 29+ years of experience in Secretarial, Legal and Compliance Mr. Shivanshu Mehta Head of Department – Bullion • Previously worked with Aditya Birla Group (Hindalco and Grasim) and NCDEX. • 27+ years of experience in physical and financial markets of precious and base metals Mr. Chittaranjan Rege Ms. Ruchi Shukla Head of Department – Energy • Previously worked with Forward Markets Commission (FMC), MCX-SX, ICICI Bank and other financial institutions • 22+ year of experience in capital markets and banking Ms. Rashmi Nihalani Head of Department – Research, Strategy & Training, Agri (interim charge) • Previously worked with Binani Industries, Zee Interactive Learning Systems • 28+ years of experience Mr. Himanshu Ashar Head of Department- Market Operations • Previously worked with MSEI, BSE, Mukesh Brokerage and Financial (I) Ltd, Dalal Street Communication Ltd. • 30+ years of experience in Capital Markets and Exchange Chief of Staff • Previously worked with MobiKwik, Monarch Networth Capital Limited, Angel One, Yes Bank and others • 15+ years of experience across Business Strategy & Planning, Analytics, Marketing, Product, Digital Revenue, Process Automation etc Mr. Sunny Singh
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MCX | Q1 FY27 Investor Presentation T H E S U B S I D I A R Y : M C X C C L India's First Commodity Clearing Corporation ₹1,444 Cr S E T T L E M E N T G U A R A N T E E F U N D ₹239.99 Cr P A I D- U P S H A R E C A P I T A L 10 C L E A R I N G B A N K S E M P A N E L L E D 248 C L E A R I N G M E M B E R S MCXCCL — 100% subsidiary of MCX · operations since Sept 3, 2018 · central counterparty for all trades executed on MCX Risk Management & Clearing ▪ SPAN-based value-at-risk margining model ▪ Margin collection; pay-in and pay-out of funds & commodities ▪ Electronic Warehouse Receipts System ▪ Non-agri commodity accounting & receipts tracking; agri via CCRL Certifications & Memberships ▪ ISO 27001:2022 — Information Security Management ▪ ISO 9001:2015 — Quality Management System ▪ ISO 22301:2019 — Business Continuity Management ▪ Member, Asia-Pacific CSD Group · Primary Member, CCP12
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MCX | Q1 FY27 Investor Presentation 03 T H E F I N A N C I A L S I N D E T A I L The Numbers, Line by Line Consolidated and standalone statements and ownership
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MCX | Q1 FY27 Investor Presentation F I N A N C I A L S T A T E M E N T S The Full Consolidated Picture *Quarterly EPS is not annualised. All financials consolidated; YoY vs corresponding quarter of prior year. Sr. No. Particulars Rs in Cr Growth QoQ% Growth YoY %Q1 FY27 Q4 FY26 Q1 FY26 1 Income from operations 702.00 888.94 373.21 (21%) 88% 2 Other income 49.79 36.39 32.61 37% 53% 3 Total income (1 + 2) 751.79 925.33 405.82 (19%) 85% 4 Employee benefits expense 57.45 46.06 44.84 25% 28% 5 Product license fees 39.68 42.52 22.01 (7%) 80% 6 Information technology and related expenses 28.12 28.10 23.86 0% 18% 7 Depreciation and amortisation expense 20.70 19.08 17.30 8% 20% 8 Finance costs 0.16 0.21 0.06 (24%) 167% 9 Contribution to statutory funds and regulatory fees 54.19 61.89 26.81 (12%) 102% 10 Other expenses 28.58 44.24 14.03 (35%) 104% 11 Total expenses (4 + 5 + 6 + 7 + 8 + 9 + 10) 228.88 242.10 148.91 (5%) 54% 12 EBITDA (3 - 4 - 5 - 6 - 9 - 10) 543.77 702.52 274.27 (23%) 98% 13 Profit before tax (3 - 11) 522.91 683.23 256.91 (23%) 104% 14 Share of (loss) / profit of associates 0.22 (1.44) (0.50) 115% 144% 15 Tax expenses 109.69 152.02 53.22 (28%) 106% 16 Profit after tax (13 +14 - 15) 413.44 529.77 203.19 (22%) 103% 17 EBITDA margin (12/3 in %) 72% 76% 68% - - 18 Net profit margin (16/3 in %) 55% 57% 50% - - 19 EPS (in Rs) 16.21 20.78 7.97 - -
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MCX | Q1 FY27 Investor Presentation F I N A N C I A L S T A T E M E N T S The Exchange, Standalone *Quarterly EPS is not annualised. Standalone financials of the Exchange, excluding the clearing subsidiary. Sr. No. Particulars Rs in Cr Growth QoQ% Growth YoY %Q1 FY27 Q4 FY26 Q1 FY26 1 Income from operations 666.59 828.72 349.22 (20%) 91% 2 Other income 50.22 37.06 31.66 36% 59% 3 Total income (1 + 2) 716.81 865.78 380.88 (17%) 88% 4 Employee benefits expense 43.39 37.73 36.06 15% 20% 5 C&S charges and product license fees 118.87 141.88 63.74 (16%) 86% 6 Information technology and related expenses 21.01 20.19 16.51 4% 27% 7 Depreciation and amortisation expense 20.00 18.51 16.76 8% 19% 8 Finance costs 0.14 0.19 0.04 (26%) 250% 9 Contribution to statutory funds and regulatory fees 54.19 61.89 26.81 (12%) 102% 10 Other expenses 22.20 38.17 10.86 (42%) 104% 11 Total expenses (4 + 5 + 6 + 7 + 8 + 9 + 10) 279.80 318.56 170.78 (12%) 64% 12 EBITDA (3 - 4 - 5 - 6 - 9 - 10) 457.15 565.92 226.90 (19%) 101% 13 Profit before tax (3 - 11) 437.01 547.22 210.10 (20%) 108% 14 Tax expenses 109.69 138.59 53.22 (21%) 106% 15 Profit after tax (13 - 14) 327.32 408.63 156.88 (20%) 109% 16 EBITDA margin (12/3 in %) 64% 65% 60% - - 17 Net profit margin (15/3 in %) 46% 47% 41% - - 18 EPS (in Rs) 12.84 16.03 6.15 - -
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MCX | Q1 FY27 Investor Presentation I N V E S T M E N T C R I T E R I A Owned Under a Framework Built for Trust Fit & Proper All shareholders must be assessed and remain 'fit and proper' at all times. Prior SEBI Approval Shareholders seeking to acquire beyond 5% require prior approval from SEBI. 51% Public Holding At least 51% of shareholding must be held by the public at all times. 49% Trading-Member Cap Aggregate holding of trading members & associates must not exceed 49%. 15% Foreign-Entity Cap Foreign exchanges, depositories, banks or insurers may hold up to 15%. Structural Safeguards Limits protect neutrality, prevent concentration and safeguard market integrity.
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MCX | Q1 FY27 Investor Presentation Stock info: No of shares outstanding (in MN) – 254.99 52 weeks high / low as on June 30, 2026: Exchange High (Rs) Low (Rs) Capitalisation (Rs in Bn) BSE 3,480 1,461 723.40 NSE 3,480 1,461 NA Mutual Funds 30.07% Foreign Portfolio Investors 29.84% Resident Individuals 15.83% Banks 15.00% Qualified Institutional Buyer 4.77% Bodies Corporates 1.87% Others 2.62% Major Shareholding >1% Sr No. Name of shareholder % 1 Kotak Mahindra Bank Ltd 14.99% 2 Motilal Oswal Mutual Fund* 4.48% 3 Government Pension Fund Global 3.30% 4 Nippon Life India Trustee Limited Mutual Fund* 3.00% 5 ICICI Prudential Mutual Fund* 2.72% 6 Axis Mutual Fund* 2.13% 7 Mirae Asset Mutual Fund* 2.02% 8 Canara Robeco Mutual Fund* 1.86% 9 SBI Mutual Fund* 1.79% 10 Edelweiss Mutual Fund* 1.65% 11 HSBC Mutual Fund* 1.59% 12 SBI Life Insurance Co. Ltd 1.45% 13 Axis Max Life Insurance Ltd Mutual Fund* 1.39% 14 New World Fund Inc 1.37% 15 DSP Mutual Fund* 1.27% 16 Invesco Mutual Fund* 1.02% 46.03% * Holding under various schemes/portfolios Shareholding Details as on June 30, 2026 I N V E S T O R I N F O R M A T I O N
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MCX | Q1 FY27 Investor Presentation D I S C L A I M E R Certain statements in this presentation contain forward-looking information about Multi Commodity Exchange of India Limited and its subsidiary companies, including their business operations, strategy and expected financial performance and condition. Forward-looking statements are predictive in nature, depend upon or refer to future events or conditions, or concern future financial performance, possible future plans and actions of the Company, and are based on current expectations and understanding of future events. They are inherently subject to risks, uncertainties and assumptions about the Company, economic factors and the industry in general. Actual performance and events could materially differ from those expressed or implied due to, among other factors, general economic,political and market conditions in India and internationally, competition, technological change, and changes in government regulations. The material in this presentation is general background information about the Company's activities, current at the date of the presentation. It is given in summary form, does not purport to be complete, is subject to change without notice, and its accuracy is not guaranteed. This presentation is strictly confidential. I N V E S T O R R E L A T I O N S C O N T A C T Rovina Adenwalla +91 22 6731 8888 ir@mcxindia.com
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MCX | Q1 FY27 Investor Presentation Thank You www.mcxindia.com