Whalesbook
Arey, yeh profit growth hua kaise?
Sabse bada reason hai market mein badhti hui trading activity aur volatility. Jaise ki bullion aur energy markets mein jo upar-neeche ho raha hai, usse sab log hedging kar rahe hain aur trading volumes badh gaye hain. Isse MCX ki transaction revenue, jo ki lagbhag 87% hai, woh zabardast badhi hai. Company ki operational efficiency bhi badhi hai, jisse EBITDA margins 74.9% par pahunch gaye.
Aur toh aur, board ne shareholders ke liye ₹8 per equity share ka dividend bhi recommend kiya hai. Paisa ban raha hai bhai!
Lekin, sab kuch itna bhi smooth nahi hai.
MCX ko ab National Stock Exchange (NSE) se takkar mil rahi hai, khaas kar bullion market mein. Gold futures mein NSE bhi apna share badha raha hai.
Dusri chinta hai MCX ka valuation. Iska P/E ratio abhi 80-105 ke beech chal raha hai, jo ki sector average (around 39.93%) aur NSE (around 39.41%) se kaafi zyada hai. Matlab, stock abhi mehnga lag raha hai.
Aise mein sawal yeh hai ki kya yeh 75% ke aas-paas wale high EBITDA margins long term mein maintain ho payenge? Yeh tabhi hoga jab cost control mein rahe aur competition ke baad bhi pricing power bani rahe.
Analysts abhi bhi positive hain. Unka kehna hai ki market volatility se MCX ko faayda hota rahega aur earnings mein achhi growth aane wali hai. Kai log toh price target 20-40% tak ka upside dikha rahe hain. Lekin sabki nazar ab margin sustainability aur NSE se competition par hi rahegi.
Stock ne pichhle ek saal mein hi 147% ka return diya hai, toh expectations kaafi high hain.