Multi Commodity Exchange of India Limited (NSE:MCX)

NSE:MCX Stock Forecast

Stock Price Forecast

According to 12 analysts polled by S&P Global, NSE:MCX stock has a consensus rating of "Buy" and an average price target of ₹3,505. The average 1-year stock price forecast is 25.64% higher than the current stock price, while the lowest is ₹2,850 (+2.16%) and the highest is ₹3,867 (+38.61%).

Price Target: ₹3,505 (+25.64%)

Analyst Consensus: Buy

Target	Low	Average	Median	High
Price	₹2,850	₹3,505	₹3,550	₹3,867
Change	+2.16%	+25.64%	+27.25%	+38.61%

* Price targets were last updated on Jan 28, 2026.

Analyst Ratings

The average analyst rating for NSE:MCX stock is "Buy". This means that analysts believe this stock is likely to outperform the market over the next twelve months.

Recommendation Trends

Rating	Dec '25	Jan '26	Feb '26	Mar '26	Apr '26	May '26
Strong Buy	4	6	7	7	7	6
Buy	1	1	1	1	2	2
Hold	3	3	3	3	2	3
Sell	1	0	0	0	0	0
Strong Sell	0	0	0	0	0	0
Total	9	10	11	11	11	11

Latest Forecasts

Analyst	Firm	Rating	Rating	Action	Price Target	Upside	Date
Ansuman Deb ICICI Securities	ICICI Securities	Buy Maintains ₹2,980	Buy	Maintains	₹2,980	+6.82%	Jan 28, 2026

Financial Forecast

Revenue This Year

31.06B

Increased by 27.89%

from 24.29B

Revenue Next Year

36.71B

Increased by 18.19%

from 31.06B

EPS This Year

70.71

Increased by 35.41%

from 52.22

EPS Next Year

83.88

Increased by 18.62%

from 70.71

Fiscal Year	FY 2022	FY 2023	FY 2024	FY 2025	FY 2026	FY 2027
Period Ending	Mar 31, 2022	Mar 31, 2023	Mar 31, 2024	Mar 31, 2025	Mar 31, 2026	Mar 31, 2027
Revenue	4.27B	5.79B	7.52B	11.97B	24.29B	31.06B
Revenue Growth	-13.49%	35.62%	29.93%	59.06%	102.95%	27.89%
Gross Profit	4.26B	5.78B	7.12B	11.27B	23.21B	28.02B
Gross Margin	99.64%	99.77%	94.58%	94.13%	95.56%	90.20%
Operating Income	2.06B	1.96B	1.02B	6.95B	16.96B	22.78B
Net Income	1.43B	1.49B	831.10M	5.60B	13.32B	18.44B
EPS	-	-	-	-	52.22	70.71
EPS Growth	-	-	-	-	137.75%	35.41%
Forward PE	39.83	45.13	44.58	42.54	40.15	39.45
Dividend / Share	3.48	3.82	1.53	6.00	8.00	30.40
Dividend Growth	-	9.71%	-59.98%	292.67%	33.33%	279.98%
Free Cash Flow	2.72B	674.54M	3.14B	5.82B	28.11B	22.51B
No. Analysts	-	-	-	-	-	9

EPS and Forward PE are based on non-GAAP adjusted numbers. Financial currency is INR.

Revenue Forecast

Revenue	2027	2028	2029
High	33.9B
Avg	31.1B
Low	28.1B

Revenue Growth

Revenue Growth	2027	2028	2029
High	39.4%
Avg	27.9%
Low	15.8%

EPS Forecast

EPS	2027	2028	2029
High	-
Avg	70.71
Low	-

EPS Growth

EPS Growth	2027	2028	2029
High	-
Avg	35.4%
Low	-

Data Sources: S&P Global Market Intelligence and TipRanks Last updated: Jan 28, 2026

Price targets, consensus ratings and financial forecasts are provided by S&P Global Market Intelligence. Individual analyst data is provided by TipRanks. Price targets and consensus ratings update every hour to every three days, while individual analyst data updates in near real-time.

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