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Multi Commodity Exchange of India announced the launch of the ¡¥Silver 100¡¦ futures contract for commencement of trading from today.
Commenting on the launch, Praveena Rai, Managing Director & CEO, MCX, said: 'The Silver 100 Futures contract helps businesses in India's silver industry protect themselves against price volatility. Local jewellery businesses can now hedge or take delivery in quantities that are better aligned with their inventory needs. This reduces the need to commit larger amounts of capital or take exposure beyond actual business requirements. The contract will also help retail participants to invest in silver in smaller quantities over time, while trading through a secure regulated exchange framework.¡¨
Key features of the Silver 100g Futures contract include:
MCX Silver Futures and Options are ranked 2nd respectively (FIA report 2025). Silver Futures and Options average daily turnover was seen at Rs. 21,648 crores and Rs. 74,883 crores respectively (FY 26). Within the Silver Futures, the Exchange has 30 kg, 5 kg, 1 kg contracts and in Options, Exchange has 5 kg, 30 kg monthly contracts, all of them with good liquidity for market trading.
Revenue from operations jumped 205% YoY to Rs 889 crore for the quarter ended 31 March 2026.
Profit before tax stood at Rs 682 crore in Q4 FY26, registering a growth of 305% on a YoY basis.
EBITDA increased 271% YoY to Rs 703 crore during the quarter. Average daily turnover (ADT) in the futures and options (F&O) segment rose to Rs 5,40,000 crore.
Total expenses rose 58.27% YoY to Rs 242.10 crore in the March 2026 quarter. Employee benefits expense stood at Rs 46.06 crore (down 0.43% YoY), while finance costs jumped 61.53% YoY to Rs 0.21 crore during the period under review.
Praveena Rai, Managing Director & CEO, MCX said, 'Our operating revenue more than doubled, growing by 113% YoY, reflecting our focused strategy, strong execution, increased participation, across all segments, new members & new products. To strengthen the Commodity Derivatives ecosystem, we initiated a focused drive - ‘Price in India : Hedge in India’ to promote and deepen hedging participation in India. Institutional and retail investors have also increasingly embraced the commodity asset class, leading to broader and deeper market participation. Going forward, our focus remains on sustainable growth, diversification of participation, products; further strengthening technology and risk frameworks, and continued enhancement of shareholder value”
The board has recommended a final dividend of Rs 8 per equity share of face value Rs 2 each for FY26.
MCX is India's largest commodity derivatives exchange, with around 98% market share in commodity futures. It offers trading in a diverse range of commodities, spanning multiple segments including bullion, energy, metals and agri commodities, as well as sectoral commodity indices.
For the full year,net profit rose 137.76% to Rs 1331.55 crore in the year ended March 2026 as against Rs 560.04 crore during the previous year ended March 2025. Sales rose 106.89% to Rs 2302.00 crore in the year ended March 2026 as against Rs 1112.66 crore during the previous year ended March 2025.
Shares of Multi Commodity Exchange of India rose 1.74% to end at Rs 3,097.15 on the BSE.
He added that SEBI will not pursue the matter further with the RBI and IRDAI, noting that commodity derivatives do not align well with the long-term investment approach typically followed by insurance firms.
The remarks signal a shift from SEBI’s earlier stance. In September last year, the regulator had said it would engage with the government to enable banks and pension funds to participate in commodity markets as part of efforts to deepen liquidity and strengthen the segment.
Pandey also noted that India’s pension fund regulator had examined the possibility of allowing pension funds to invest in commodity derivatives, though he did not disclose whether a final decision had been taken.
MCX, India's largest commodity exchange and the country’s first listed bourse in the segment, provides a trading platform for commodities such as precious metals, crude oil and natural gas. Hopes of broader institutional participation have been a key driver of the stock’s gains.
The latest regulatory stance, however, signals a more cautious approach, tempering near-term expectations of fresh liquidity inflows into the commodity derivatives market.
The company reported 150.63% year-on-year (YoY) surge in consolidated net profit to Rs 401.12 crore in Q3 FY26, compared with Rs 160.04 crore in Q3 FY25. Income from operations jumped 120.85% YoY to Rs 665.62 crore for the quarter ended 31 December 2025.
The company's board will consider Q4 results on 8 May 2026.