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MCX Q1FY22 Earning Call Highlights

MCX Q1FY22 Earning Call Highlights

Published on 13 August 2021 Views 36 Comments 0

Financial Highlights

  • Profit after tax has decreased from Rs.56.43 Cr in Q1 FY21 to Rs. 39.80 Cr in Q1 FY22, down 29%
  • Operating Profit has increased by 20% from Rs. 73.01 Cr in Q1 FY21 to Rs. 87.60 Cr in Q1 FY22
  • Total Revenue has dropped by 11% due to decrease in other income

Business Highlights

  • The impact of Average Daily Turnover (ADT) is 21%. It has increased from Rs.23,129 Cr in zero phase (i.e. prior to imposition of peak margin) to Rs. 28,031 Cr in third phase.
  • Unique Client Count (UCC) has increased from 236,000 to 246,600 in last one year and majorly it has come from options contract
  • The first drop of new trading based software has been delivered whose testing is going on. There will be drop two and drop three and this platform which is being developed by TCS will go live from next September.
  • Option volumes are increasing and hedgers participation is also increasing
  • Due to high crude margin, crude options are gaining traction.
  • Management expects the crude oil margin to go down in next few months
  • Company has done a MOU with EEX to launch electricity contract. It is waiting for Supreme Court Orders.
  • Swap model for delivery based trading is under development. They are also looking at designated entity model wherein the designated entity will have a subledger and will maintain their profile.

Important Developments

  • Zero Tariff Period on options contract is extended till 30th Sep 2021. After that, transaction fees will be on notional daily premium turnover. Premium will be Rs. 50 per lakh upto Rs.5 Cr and Rs.40 over and above Rs.5 Cr.
  • Company has recently introduced silver mini options contract
  • Cross margin benefit on index futures versus the underlying commodities futures is implemented from 26th July 2021. If one has got contra positions between index future and its underlying commodities future, he will get the cross margin benefit. It will help in increasing the turnover.
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