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RATING

RECOMMENDATION

Sell

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RATING

RECOMMENDATION

Sell

Business Type

Near Leader

Discover and get a complete analysis on MSEI Pre IPO - Management, Business Model, Financials, Growth, Valuations, Funding Rounds, News and get latest updates on MSEI Financial Statements.

ISIN

INE312K01010

Face Value

₹1.00

Total Share

4,81,02,17,033

Total Income

₹32.45 Cr

Profit After Tax

-₹31.08 Cr

EPS

-₹0.06

P/E

-25.00

P/B

2.24

Market Capitalisation

₹721.53 Cr

Enterprise Value

₹489.84 Cr

Book Value

₹0.67

Intrinsic Value

₹1.04

Earnings Yield

-4.00 %

Sector

Financials

Sub-sector

Stock Exchange & Ratings

Category

Growth Phase

Cashflow - Operations

-₹37.93 Cr

Cashflow - Financing

-₹4.38 Cr

MSEI Growth

Compounded Sales Growth

  • -12.32%

    1 Year

  • 4.69%

    3 Year

  • 1.55%

    5 Year

Pro Only

Compounded Profit Growth

  • NA

    1 Year

  • NA

    3 Year

  • NA

    5 Year

Pro Only

Return On Equity

  • -9.64%

    1 Year

  • -17.07%

    3 Year

  • -14.63%

    4 Year

Pro Only

About MSEI

  • Metropolitan Stock Exchange of India Limited(MSEI) is a full – service national level Stock Exchange with a license to operate in Equity, Equity Derivatives, Currency Derivatives, Debt and SME Platform, through an electronic platform. It is one of India’s eight stock exchanges recognized by the SEBI.
  • MSEI was incorporated in Mumbai in 2008.
  • MSEI appointed Latika Kundu as its CEO in 2020. She has over 20 years of experience working with NSE, MSE, Singapore Mercantile Exchange and Singapore Diamond Investment Exchange. 
  • MSEIL has two subsidiaries viz. Metropolitan Clearing Corporation of India Ltd (MCCIL) and MCX SX KYC Registration Agency Ltd. in which it holds 86.94% and 100.0%. MCCIL is in the business of clearing and settlement of deals in multi-assets classes carried out at MESIL and MRAL is in the business of maintaining a database for the members of the exchange and other under the Know Your Client Guidelines.

  • MSEI IPO Details

MSEI is not a listed company, and there is no news for Upcoming IPO

  • MSEI Subsidiaries

  • Metropolitan Clearing Corporation of India Ltd (MCCIL) in which MSEI holds 95.85%, is in the business of clearing and settlement of deals in multi-assets classes carried out at MESIL.
  • MCX SX KYC Registration Agency Ltd. in which MSEI holds 100% stake is in the business of maintaining a database for the members of the exchange and other under the Know Your Client Guidelines.

MSEI Business Model

MSEI offers an electronic platform for trading in the capital market, futures and options, currency derivatives, Interest Rate Futures (IRF) and Debt Market segments.

  • MSEI Revenue Segmentation

  • Trading and clearing services
  • Other Income
  • MSEI Product & Services

  • Trading in Equity segment(1500+ companies are available for trading)
  •  Trading in Currency Derivatives
  •  Futures- USD-INR, GBP-INR, EUR-INR, JPY-INR.
  •  Options
  •  Options contracts in USD-INR.
  •  Deal in Debt Segment
  •  Deal in Initial Public offerings
  • MSEI Assets

As of FY21 MSEI has tangible assets worth Rs 8.65Cr. and Intangible assets worth Rs 18.79Cr while some intangible assets are still under development worth Rs 2.6Cr.

  • MSEI Industry Overview

Industry Statistics

  • The Indian stock exchanges are crucial market intermediaries and are supervised by the Securities and Exchange Board of India (SEBI).
  • Exchanges are organized markets designed to provide centralized facilities for the listing and trading of the financial instruments issued by companies, sovereigns and other entities to raise capital.
  • Over the last 5 years, indian industry revenue has grown at a yearly avg rate of 3.07%, while  net income has grown at a yearly avg rate of 6.77%.
  • Key competitors of MSEI in the market are BSE, NSE and Calcutta stock exchange, where BSE and NSE plays a major role in the operations of stock market.
  • India is one of the most open economies in the world, with almost 100% FDI policy permission under the automatic route for almost all major sectors, Net Foreign direct investment was US$ 33 billion  in FY19, this is helping stock market in developing.
  • The government policies and economic growth also attract the investors and smart money to deploy their money in Indian Stock market their inflows impact our market and raise the revenue of stock exchange.
  • Exchanges are batting for increasing trading hours. By highlighting Commodity markets trade for 15 hours daily but equities are allowed to trade for only six-and-a-half hours by markets regulator SEBI.

Future Prospects

  • With Artificial Intelligence and Machine Learning brokers can easily identify the investment goals of the investors. This will bring more people to the vicinity of Investment. However, as per statistics, only 3-4% of Indians invest in market as compared to 30-40% in developed countries. So there are many opportunities for the country like India in The Stock Broking Business.
  • Everyday more and more companies are getting listed, in 2020 around 16 new companies were listed on NSE or BSE and now in 2021 more companies are getting added to the list. If this sentiment continues this will lead to generation of large amount of revenue for stock exchanges.
  • After covid 19 there is huge awareness among investors regarding stock markets, people are getting attractive towards it, but still there is huge gap and potential, as more and more people will become a part of it, market will continue to grow.

Government Initiatives

An important measure regarding capital market reforms is the setting up of Securities and Exchange Board of India (SEBI) as the regulator of equity market in India. SEBI is the regulatory authority established under the SEBI Act 1992 and is the principal regulator for Stock Exchanges in India. SEBI’s primary functions include protecting investor interests, promoting and regulating the Indian securities markets.

  • All financial intermediaries permitted by their respective regulators to participate in the Indian securities markets are governed by SEBI regulations, whether domestic or foreign. Foreign Portfolio Investors are required to register with DDPs in order to participate in the Indian securities markets.
  • A significant reform has been that Indian capital market has been opened up for foreign institutional institutions (FII). That is, FII can now buy shares and debentures of private Indian companies in the Indian stock market and can also invest in government securities. 
  • FIIs have been allowed to invest in equities of private corporate Indian companies as well as in Government securities. Similarly, Overseas Corporate Bodies (OCBs) and Non-resident Indians have been allowed to invest in the equity capital of the Indian companies.
  • Another important step to strengthen the Indian capital market is that banks have been allowed to lend against various capital market instruments such as corporate shares and debentures to individuals, investment companies, trusts and endowment share and stock brokers, industrial and corporate buyers and SEBI-approved market makers.

MSEI Strengths

  • MSEI offers a transparent, Hi-tech platform for trading in Capital Market, Futures & Options (F&O), Interest Rate Derivatives, Currency Derivatives, ETFs and Debt Market, and continuously working to do improve the technological operations.
  • The exchange is also working to gain traction in the equity segment, along with building state-of-the-art Mutual Fund and SME platform to deepen the relationship with its members and clients, by offering integrated solutions to their trading needs.

MSEI Shortcomings

  • Company’s operating profit margin and Asset turnover ratio is lowest among its peers which translates to poor operations.
  • EBITDA of the company has been decreasing at a CAGR of 22.55% from 2018 to 2021, as expenses of the company are increasing due to increase in technology cost and employee benefit expenses while revenue from interest income is also decreasing. 
  • ROE, ROA, ROCE all ratios are negative in the company, due to more expenses, as company is trying to go for fully technology based trading.
  • Net profit of the company are negative from previous 5 years. This year it has shown a better position in comparison to previous years.

MSEI Opportunities

  • Exchanges are batting for increasing trading hours.
  • Deals in interest rate derivatives, which attracts institutes for hedging and probably will always be in demand.

MSEI Threats

  • The competitive landscape of exchange business in India continues to be challenging. MSE ability to compete in this environment and ensure that regulations continue to have level playing field, will be a major factor in ensuring growth of the Exchange.
  • MCX SX, has some allegations of mismanagement and financial irregularities. Market regulator SEBI has ordered a forensic audit into the workings of MSEI.
MSEI Rating

  • RECOMMENDATION

    Sell

  • MSEI Detail Info

Industry Statistics

PUBLIC LIMITED

Registered In

India

last Updated

26/10/2021

Registered Date

14/08/2008

Planify Ticker

MSEI.txt

Reg Office: Vibgyor Towers, 4th Floor, Plot no. C-62, G Block Bandra Kurla Complex, Bandra (East), Mumbai-400098.

Website: http://www.msei.in