Consolidated Total Income: Increased to ₹1,600 crores in H1 FY27, representing 99% year-on-year growth
Revenue from Operations: Grew to ₹1,501 crores in H1 FY27, a 101% increase year-on-year
EBITDA: Increased to ₹663 crores with an EBITDA margin of 75%
PAT: Increased to ₹868 crores with 117% year-on-year increase
Effective Tax Rate: Revised to approximately 25% for H1 FY27 after re-evaluation based on SEBI circular
Operational Metrics
Average Daily Turnover: Grew to ₹12.6 lakh crores in Q2 FY27, representing 20% increase from previous quarter (₹10 lakh crores) and nearly double the same quarter last year
Traded Clients: Reached 19.8 lakh in H1 FY27, approaching last year's full-year figure of 20.9 lakh traded clients
Electricity Derivatives: Average daily turnover of ₹77 crores per day in Q2 FY27, with 75% market share and open interest of 1,500-1,600 lots
Product Development and Launches
Silver 100-gram futures contract: Launched earlier in the year with more than ₹100 crores of average daily turnover
Gold 10-Gram Futures: Continuing popularity since launch last year
Silver micro-options: Available in 30 kg, 5 kg, and 1 kg variants showing significant play
Far-dated futures contracts: Commenced in several commodities with expiries up to 12 months (aluminum, copper, zinc) and up to 18 months (crude oil)
Delivery location consolidation: For lead and zinc contracts to Chennai and Thane respectively effective November 2026; mini contracts of lead and zinc at Palwal and Kolkata respectively
Technology and Infrastructure
Technology scaling has been significant with nearly doubled capacity in recent months
Enhanced capacity comes with associated maintenance and running expenses
Planning for operational expansion including data center relocation under review after stakeholder consultations
Cybersecurity remains a heightened focus area with proactive measures and collaboration with central organizations
Regulatory Updates
SGF Contribution: SEBI circular in August 2026 rationalized calculation of Settlement Guarantee Fund requirement using Z-score method (reduced from 10 to 5), resulting in significant reduction in SGF requirement
Current SGF contributions sufficient for coming quarters, no immediate additional contributions foreseen
FPI Participation: Approximately 250 FPIs onboarded currently, permitted only on cash-settled energy contracts (crude oil and natural gas)
Regulatory consultation paper announced for broader FPI access, awaiting final circulars
Leadership Updates
Sanjay Rajpal: Joined as Executive Director - Technology and Market Operations from Amazon
Manoj Jain: Promoted from Chief Compliance Officer to Executive Director - Regulatory, Compliance, Risk Management & Investor Grievance
Ramesh Varakhedkar: Joined as Chief Business Officer earlier in the month
Praveen DG: Chief Risk Officer given additional responsibility as Chief Compliance Officer
Market Participation Trends
Healthy growth across all participant segments including retail, proprietary, and institutional
No significant change in proportionality of contributions despite RBI circular on bank guarantees effective July 2026
Increased awareness efforts through digital videos and member collaborations to promote safe commodity investing
Risk Factors Highlighted
Volatility management remains critical priority to maintain market integrity during volatile periods
Cybersecurity threats including AI-based attacks require continuous proactive measures
Competitive landscape intensifying with other exchanges attempting to gain commodity market share
Future Outlook
Strong baseline growth expected to sustain with increased participation across segments
Continued investments in technology, innovation, and market development
Product pipeline exists but will be paced appropriately for market absorption
No specific EBITDA margin guidance provided, but focus remains on efficient investment alongside growth
Event Details
Call Date: Wednesday, November 04, 2026 at 16:00 IST
