ICICI Securities: MCX’s Operating Leverage Aids Strong Q2 Ebitda Performance 
A trader works on the trading floor of the Multi Commodity Exchange of India in Mumbai, India (Photographer Amit Bhargava/Bloomberg)

ICICI Securities: MCX’s Operating Leverage Aids Strong Q2 Ebitda Performance 

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Securities Report

Multi Commodity Exchange of India Ltd.) reported robust operating performance in Q2 FY21 with revenue growth at 12% YoY and Ebitda margin expansion of 450 basis points to 55% driven by the high operating leverage inherent in the business model.

The increase in volatility resulted in strong traction in bullion average daily trading volume in Q2 FY21, which has started to moderate from October.

Monetisation of growth levers remains critical for rerating of the stock.

Click on the attachment to read the full report:

ICICI Securities MCX Q2FY21 Results Update.pdf

DISCLAIMER

This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the brokerage and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.