MCX vs CDSL: share price, P/E, ROE and financials compared
Multi Commodity Exchange of India
Central Depository Services (India)
MCX and CDSL at a glance
MCX and CDSL are both listed in Financial Services. MCX is the larger by market cap, at ₹89,793 Cr against ₹27,826 Cr for CDSL (3.2 times as large). On valuation, CDSL has the lower P/E (55.1× against 60.9×) and the lower price-to-book (14.03× against 18.05×). On returns and margins, MCX has the higher ROCE (39.0% against 29.7%), the higher ROE (44.4% against 26.4%) and the higher operating margin (74.2% against 51.3%). Over three years, MCX has faster 3-year sales growth (+67.8% against +27.3% a year) and faster 3-year profit growth (+107.5% against +18.2% a year). Neither carries much debt for its equity: debt-to-equity is 0.00× for MCX and 0.00× for CDSL.
Key metrics, side by side
| Metric | MCXMCX | CDSLCDSL |
|---|---|---|
| Price (₹) | 3,528.00 | 1,331.40 |
| Market cap (₹ Cr) | 89,793 | 27,826 |
| P/E | 60.9× | 55.1× (the lower figure, shaded) |
| P/B | 18.05× | 14.03× (the lower figure, shaded) |
| Dividend yield, trailing | 0.23% | 0.96% (the higher figure, shaded) |
| ROE | 44.4% (the higher figure, shaded) | 26.4% |
| ROCE | 39.0% (the higher figure, shaded) | 29.7% |
| Operating margin (OPM) | 74.2% (the higher figure, shaded) | 51.3% |
| Net margin (NPM) | 55.9% (the higher figure, shaded) | 37.2% |
| Sales CAGR 3Y | +67.8% (the higher figure, shaded) | +27.3% |
| Profit CAGR 3Y | +107.5% (the higher figure, shaded) | +18.2% |
| Debt to equity | 0.00× | 0.00× |
| Interest cover | 4696.4× (the higher figure, shaded) | 3511.0× |
| Net profit TTM (₹ Cr) | 1,799 | 505 |
| 1Y return | +80.5% (the higher figure, shaded) | −13.3% |
| Promoter holding | 0.00% | 15.00% |
MCX vs CDSL: common questions
Which is bigger, MCX or CDSL?
By market cap, MCX is bigger at ₹89,793 Cr, against ₹27,826 Cr for CDSL (prices as of 6 Nov 2026). Net profit over the last twelve months was ₹1,799 Cr for MCX and ₹505 Cr for CDSL.
Which has a lower P/E ratio, MCX or CDSL?
MCX trades at a P/E of 60.9× and CDSL at 55.1×. CDSL has the lower P/E. P/E is the share price divided by earnings per share; it varies a lot between industries and with growth, so it says little on its own.
Which has a higher ROE, MCX or CDSL?
MCX reports a return on equity of 44.4% and CDSL 26.4%. MCX has the higher ROE. ROE is net profit as a share of shareholders’ equity.
Which is growing faster, MCX or CDSL?
Over the last three years: Sales grew +67.8% a year at MCX and +27.3% at CDSL, so MCX grew sales faster; profit grew +107.5% a year at MCX and +18.2% at CDSL, so MCX grew profit faster. Past growth doesn’t predict future growth.