Multi Commodity Exchange of India Share Price Target 2027: Base and Bull Targets Built on FY26 Earnings
- October 9, 2026
- Posted by: Kunal Singla
- Category: Market
Multi Commodity Exchange of India share price Rs 3,318.20 (9 October 2026). Base target Rs 3,906, bull Rs 4,680, downside risk Rs 2,604. PE 53.84. 52W range Rs 1,626.00 to Rs 3,481.40.
Quick Answer
The Multi Commodity Exchange of India share price target for 2027 is Rs 3,906, about 17.7% above the current price of Rs 3,318.20. The bull case is Rs 4,680, and the downside risk level, which is not a target, is Rs 2,604. The base case assumes earnings per share grow 20.0% a year, a cap applied because the FY24 to FY26 pace was 79.0%, with the stock holding its PE of 53.84. These are model-based estimates built from reported financials, not guaranteed outcomes.
Investors weighing a Multi Commodity Exchange of India target price for 2027 should start with where the stock sits today. At Rs 3,318.20 on 9 October 2026, it is 4.7% below its 52-week high of Rs 3,481.40 and 104.1% above its 52-week low of Rs 1,626.00. That range spans 114% from low to high, so the entry point matters as much as the Multi Commodity Exchange of India price forecast itself.
This article builds the Multi Commodity Exchange of India share price target from reported numbers only: five years of annual results, the last five quarters, the latest shareholding pattern and current valuation ratios from company filings and exchange data. Each scenario shows its assumptions, so you can see exactly how the Rs 3,906 base case and the Rs 4,680 bull case were reached, along with a downside risk level of Rs 2,604.
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Multi Commodity Exchange of India Stock Analysis: Company Overview and Key Stats
Multi Commodity Exchange of India (NSE: MCX) has a market capitalisation of Rs 83,000 crore. In FY26 it reported revenue of Rs 2,429 crore and net profit of Rs 1,332 crore. The table collects the figures the Multi Commodity Exchange of India share price target is built on.
| Metric | Value |
|---|---|
| Company | Multi Commodity Exchange of India |
| NSE Ticker | MCX |
| CMP (9 October 2026) | Rs 3,318.20 |
| 52-Week High | Rs 3,481.40 |
| 52-Week Low | Rs 1,626.00 |
| Market Cap | Rs 83,000 crore |
| PE Ratio (TTM) | 53.84 |
| Industry PE | 42.30 |
| Price to Book | 29.14 |
| Return on Equity | 46.75% |
| Debt to Equity | 0.00 |
| EPS (TTM) | Rs 60.46 |
| Dividend Yield | 0.25% |
| 12-Month Base Target | Rs 3,906 |
| Bull Case | Rs 4,680 |
| Downside Risk Level (not a target) | Rs 2,604 |
Why Is Multi Commodity Exchange of India Share Price Target Set at Rs 3,906 for 2027?
The base-case Multi Commodity Exchange of India stock target of Rs 3,906 applies a PE multiple of 53.84 to a forward EPS estimate of Rs 72.55. That EPS assumes 20.0% yearly growth, the pace from FY24 to FY26, and puts the target 17.7% above the current price. The bull case adds faster earnings growth and a higher multiple, while the downside risk level assumes flat earnings and a lower multiple.
Earnings Growth Behind the Multi Commodity Exchange of India Target Price: Five Years of Results
Multi Commodity Exchange of India grew revenue from Rs 433.31 crore in FY22 to Rs 2,429 crore in FY26, a compound annual growth rate of 53.9%. Net profit grew faster, from Rs 143.45 crore to Rs 1,332 crore (74.5% a year), which shows margin gains did part of the work and not just higher sales.
| Financial Year | Revenue (Rs Cr) | Net Profit (Rs Cr) | EPS (Rs) | Dividend per Share (Rs) |
|---|---|---|---|---|
| FY22 | 433.31 | 143.45 | 28.18 | 17.40 |
| FY23 | 581.17 | 148.97 | 29.27 | 19.09 |
| FY24 | 758.94 | 83.11 | 16.30 | 7.64 |
| FY25 | 1,208.86 | 560.04 | 21.96 | 30.00 |
| FY26 | 2,429.05 | 1,331.55 | 52.22 | 8.00 |
FY26 revenue growth was 100.9%, faster than the four-year average of 53.9%, and net profit moved up 137.8%. EPS rose from Rs 16.30 in FY24 to Rs 52.22 in FY26. The FY27 outlook depends on whether that EPS estimate keeps compounding.
Margins and the Latest Quarter
Multi Commodity Exchange of India converted 54.8% of FY26 revenue into net profit, against 46.3% in FY25, within a five-year range of 11.0% to 54.8%. EBITDA margin was 72.8% in FY26 versus 63.2% in FY25.
In the June 2026 quarter, revenue was Rs 751.79 crore, up 85.3% from the same quarter a year earlier, while net profit of Rs 413.44 crore was up 103.5%. EBITDA came in at Rs 543.77 crore, up 98.3% year on year. The next quarterly result is the first test of whether the earnings assumption holds.
Balance Sheet and Cash Flow
Debt to equity stands at 0.00, and shareholders’ equity grew from Rs 1,418 crore in FY22 to Rs 2,848 crore in FY26. Operating cash flow in FY26 was Rs 3,035 crore against capital expenditure of Rs 72.34 crore, leaving free cash flow of Rs 2,962 crore, or 3.6% of the current market capitalisation. In FY25 free cash flow was Rs 854.23 crore.
Valuation Check for the Multi Commodity Exchange of India Stock Target: PE, Price to Book and ROE
At a PE of 53.84 against an industry PE of 42.30, Multi Commodity Exchange of India trades at a premium to its industry. Price to book is 29.14 on a book value of Rs 111.69 per share, and return on equity is 46.75%. A PE of 53.84 equals an earnings yield of 1.9%, and the FY26 dividend of Rs 8.00 per share gives a yield of 0.25%.
Shareholding Pattern and Institutional Holding
The latest filing shows no promoter holding in Multi Commodity Exchange of India, so ownership rests with institutions and public shareholders. Foreign institutional investors (FII) held 29.84% and domestic institutions (DII) held 50.81%, which puts total institutional holding at 80.65%. FII holding rose from 21.69% in June 2025 to 29.84% in June 2026. Public shareholders own the remaining 19.34%. A meaningful institutional holding adds a layer of research coverage and trading depth.
Multi Commodity Exchange of India Share Price Targets for the Short Term and 12 Months
Short Term Multi Commodity Exchange of India Stock Target Levels: Technical Setup
At Rs 3,318.20 on 9 October 2026, Multi Commodity Exchange of India trades above its 50-day simple moving average of Rs 3,136.06 and above its 200-day exponential moving average of Rs 2,756.82. The 14-day RSI reads 52.9, which is neutral territory, and the MACD line sits below its signal line. The nearest resistance level is Rs 3,481.40 (52-week high) and the nearest support is Rs 3,136.06 (50-day simple moving average). A sustained move above Rs 3,481.40 would improve the short-term setup, while a close below Rs 3,136.06 would shift attention to the next support.
12 Month Multi Commodity Exchange of India Target Price for 2027
The 12-month target for Multi Commodity Exchange of India is Rs 3,906: forward EPS of Rs 72.55 at a PE of 53.84. That is 17.7% above Rs 3,318.20. It would also push the stock above its 52-week high of Rs 3,481.40. Anyone checking the Multi Commodity Exchange of India share price target against their own view should focus on two inputs: the EPS estimate and the PE multiple.
How EPS Growth and PE Multiple Change the Multi Commodity Exchange of India Target Price
| EPS Growth | PE 43.07 | PE 53.84 | PE 61.92 |
|---|---|---|---|
| 0.0% (EPS Rs 60.46) | Rs 2,604 | Rs 3,255 | Rs 3,744 |
| 20.0% (EPS Rs 72.55) | Rs 3,125 | Rs 3,906 | Rs 4,492 |
| 25.0% (EPS Rs 75.58) | Rs 3,255 | Rs 4,069 | Rs 4,680 |
Each cell multiplies the forward EPS estimate by the PE shown. Reading across a row shows what a de-rating or re-rating does to the Multi Commodity Exchange of India price forecast, and reading down a column shows what earnings growth is worth at a fixed multiple.
Bull Case and Downside Risk for Multi Commodity Exchange of India Stock Target in 2027
Bull Case Rs 4,680
The bull case Multi Commodity Exchange of India price target needs EPS growth of 25.0%, which lifts forward EPS to Rs 75.58, and a PE multiple that rises 15% to 61.92. That gives Rs 4,680, 41.0% above the current price and above the 52-week high of Rs 3,481.40, so the stock would have to set a fresh 52-week high.
Downside Risk Level Rs 2,604
The downside risk level is not a target. It assumes EPS stays flat at Rs 60.46 and the PE falls 20% to 43.07. That gives Rs 2,604, 21.5% below the current price and above the 52-week low of Rs 1,626.00.
| Scenario | EPS Growth | PE Multiple | Price (Rs) | Change vs CMP |
|---|---|---|---|---|
| Bull Case | 25.0% | 61.92 | Rs 4,680 | +41.0% |
| Base Case | 20.0% | 53.84 | Rs 3,906 | +17.7% |
| Downside Risk | 0.0% | 43.07 | Rs 2,604 | -21.5% |
Key Risks to the Multi Commodity Exchange of India Target Price for 2027
Growth Slowdown Risk for the Multi Commodity Exchange of India Price Target
Revenue in the June 2026 quarter was up 85.3% year on year, and FY26 revenue growth was 100.9%. If growth slows from here, the EPS estimate behind the Multi Commodity Exchange of India stock target will need revising.
Liquidity and Size Risk
Multi Commodity Exchange of India has a market capitalisation of Rs 83,000 crore. Institutional holding is 80.65%, and the latest filing shows no promoter holding. A company of this size trades with deep liquidity, so entry and exit are rarely a problem, and the larger risk is paying too much for slow earnings growth.
Valuation and Margin Risk
Net margin was 54.8% in FY26, and a squeeze from higher costs or weaker pricing would hit earnings first. At a PE of 53.84 versus an industry PE of 42.30, a de-rating toward the downside-risk PE of 43.07 would cut the price even if earnings hold.
Market and Technical Risk
The stock trades 4.7% below its 52-week high, with an RSI of 52.9 and a MACD reading below its signal line. Broader market weakness can override company fundamentals in the short term. That applies to any Multi Commodity Exchange of India stock target, however carefully it is built.
How to Invest in Multi Commodity Exchange of India
Start with the live price and volume. Any Multi Commodity Exchange of India share price target is only as current as the data behind it, and the data here is as of 9 October 2026, so refresh the Rs 3,318.20 price before acting on any level.
Next, review the fundamentals yourself. The Univest Screener lets you check Multi Commodity Exchange of India’s PE, ROE, debt and shareholding in one place.
Check Multi Commodity Exchange of India fundamentals on the Univest Screener
Then compare the three Multi Commodity Exchange of India target price scenarios with your own view. If you expect EPS growth below 20.0%, the base case is too optimistic for you; if you expect more, the bull case deserves weight.
Decide your position size and exit levels before you buy. The support and resistance levels above can serve as reference points, but they are not recommendations.
Finally, place the order through a SEBI-registered broker or the Univest app, and review the position after each quarterly result. Consult a SEBI-registered advisor if you are unsure.
Download the Univest iOS App or Univest Android App to track Multi Commodity Exchange of India live price and get daily stock recommendations.
Conclusion
The Multi Commodity Exchange of India share price target for 2027 is Rs 3,906 in the base case, with Rs 4,680 as the bull case. The support for that view is arithmetic you can check: EPS grew 79.0% a year over FY24 to FY26, and the stock trades at a PE of 53.84. The risks are equally concrete, including a stock that sits 4.7% below its 52-week high and a downside scenario that cuts the price 22% if earnings stall. Use these numbers as a framework, check them against the latest filings, and size any position to your own risk appetite.
Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
FAQs on Multi Commodity Exchange of India Share Price Target 2027
What is the Multi Commodity Exchange of India share price target for 2027?
Ans. The base-case Multi Commodity Exchange of India share price target for 2027 is Rs 3,906, with Rs 4,680 as the bull case. The downside risk level, which is not a target, is Rs 2,604. These are model estimates from reported earnings and the current PE, not guaranteed outcomes.
What is the Multi Commodity Exchange of India share price today?
Ans. As of 9 October 2026, 3:30 PM IST, Multi Commodity Exchange of India trades at Rs 3,318.20, up 1.92% on the day. The 52-week range is Rs 1,626.00 to Rs 3,481.40.
Is Multi Commodity Exchange of India a buy or sell at the current price?
Ans. The data is mixed rather than one-sided: EPS has grown 79.0% a year over FY24 to FY26, but the stock is 4.7% below its 52-week high. Whether Multi Commodity Exchange of India fits your portfolio depends on your time horizon and risk appetite, so consult a SEBI-registered advisor before investing. This article is not investment advice.
What are the bull case target and downside risk level for Multi Commodity Exchange of India shares?
Ans. The bull case target is Rs 4,680, which assumes 25.0% EPS growth and a PE of 61.92. The downside risk level is Rs 2,604, which assumes flat EPS and a PE of 43.07. It marks a risk, not a target.
What are the main risks to the Multi Commodity Exchange of India price target?
Ans. The main risks are slower revenue growth, a small market capitalisation of Rs 83,000 crore, a PE de-rating and short-term weakness in the broader market. Each is covered in the risk section above.
What is the PE ratio of Multi Commodity Exchange of India and how does it compare with the industry?
Ans. The PE ratio of Multi Commodity Exchange of India is 53.84 against an industry PE of 42.30. Price to book is 29.14 and return on equity is 46.75%. The base case in the Multi Commodity Exchange of India price target holds this PE constant.
Who owns Multi Commodity Exchange of India, and what is the promoter holding?
Ans. The latest filing shows no promoter holding in Multi Commodity Exchange of India. FII held 29.84%, DII held 50.81% and the public held 19.34%.
What were Multi Commodity Exchange of India’s latest quarterly results?
Ans. In the June 2026 quarter, Multi Commodity Exchange of India reported revenue of Rs 751.79 crore (up 85.3% year on year) and net profit of Rs 413.44 crore (up 103.5%).
