A monopoly features a single dominant seller with exclusive control over price and supply, facing no competition due to high barriers and lack of substitutes.
Some Indian companies hold regulatory monopolies in their respective sectors, mainly due to government licensing, exclusive rights, or regulatory frameworks that prevent competition.
Here are a few companies that have been short-listed using the Equitymaster Stock Screener. While some of them do benefit from regulatory frameworks, others benefit from technological barriers.
#1 Coal India
First on our list is Coal India.
Coal India holds a near-monopoly position in India’s coal mining and production sector. It commands over 80% of the country’s coal production, making it the largest coal producer in the world.
This dominant market share is primarily due to government ownership, regulatory licensing, which allows access over coal blocks. It’s the main coal supplier to major sectors like power, steel, cement, and fertilisers.
Coming to financials of the company, in Q1 FY26 the company reported consolidated net sales of Rs 358,422 million (m) against Rs 375,039 m in the corresponding period of last year. Net profits for Q1 FY26 was placed at Rs 85,900 m against Rs 108,582 m YoY.
The company has reported a 3-year average CAGR sales growth of 11.2% and 3-year average net profit CAGR growth of 26.7%.
Moving ahead, Coal India is implementing 117 coal projects with a sanctioned capacity of nearly 979 million (m) tonnes and a capital sanction of around Rs 1,400 billion (bn), expected to contribute substantially to future coal output.
The company has adopted number of measures to increase coal production. In its underground mines, Coal India is adopting mass production technologies (MPT), mainly with continuous miners, wherever feasible. Coal India is also planning large capacity UG mines wherever feasible.
In its open cast (OC) mines, the company already has state-of-the-art technology in its high-capacity excavators, dumpers and surface miners.
Coal India remains an essential strategic and economic entity with a durable, defensible monopoly status in India’s energy supply chain.
In the five days, Coal India shares have been flat. In the last one month, the share price has gained about 3%. In the last one year, the shares have lost 19%.
The stock touched its 52-week high of Rs 516.75 on 27 September 2024 and its 52-week low of Rs 349.2 on 17 February 2025.
Coal India Share Price – 1 Month
#2 IRCTC
Second on our list is Indian Railways Catering and Tourism Corporation (IRCTC).
IRCTC does not have competition because it holds a government-granted monopoly over several key services related to Indian Railways.
These exclusive rights include the sole authorisation to sell railway tickets online, provide catering on trains and at stations, and distribute packaged drinking water on trains and railway stations.
While aggregator websites exist for ticketing, they only act as partners using IRCTC’s systems and do not compete against it. The government’s control and exclusive authorisation create significant barriers preventing competitors from entering these segments.
Coming to the financials of the company, IRCTC reported revenues of Rs 11,597 m for Q1 FY26, which was slightly better than Rs 11,176 m YoY.
Net profits for Q1 FY26 came in at Rs 3,307 from Rs 3,077 m in the corresponding period of last year. The company has reported a 3-year average CAGR sales growth of 35.5% and 3-year average net profit CAGR growth of 25.9%.
Moving ahead, the company plans to monetise its fintech revenue through its own payment gateway “Ipay,” which may extend to external digital platforms to capture cashless, digital economy trends.
The company is also looking at generating advertising revenue by integrating digital content streaming inside trains, especially on tourist and corporate circuit trains operated privately by IRCTC.
How Shares of IRCTC have Performed
In the past five days, shares of IRCTC have moved slightly higher from Rs 711 to Rs 720. In the last one month, the share price has dropped marginally. In the last one year, the shares have lost 22%.
The stock touched its 52-week high of Rs 956.8 on 13 September 2024 and its 52-week low of Rs 655.7 on 3 March 2025.
IRCTC Share Price – 1 Month
#3 Multi Commodity Exchange of India
Third on our list is Multi Commodity Exchange of India, more popularly known as MCX.
MCX holds a dominant market share exceeding 98% in commodity futures. It was the first national-level online commodity derivatives exchange in India, incorporated in 2002 and operational from 2003, giving it a first-mover advantage and strong network effect.
Simultaneously, the successful migration to a robust technology platform positioned the Exchange for greater scale, speed and resilience.
What followed was unprecedented momentum – options turnover more than doubled, institutional participation deepened with FPIs and MFs entering more actively and MCX consolidated its leadership with a market share exceeding 98% in commodity futures.
On the financial front, the company reported consolidated net sales of Rs 3,732 m for Q1 FY26, jumping from Rs 2,344 m YoY.
Net profits for Q1 FY26 came in at Rs 2,037 m from Rs 1,106 m in the corresponding period of last year. The company has reported a 3-year average CAGR sales growth of 44.8% and 3-year average net profit CAGR growth of a solid 57.5%.
The company is introducing new commodity futures contracts to expand its product offerings.
For example, Nickel futures contracts were launched recently, highlighting its effort to diversify and tap into emerging commodity markets.
MCX also relaunched cardamom futures trading, resuming after a four-year pause. It had earlier launched India’s first electricity futures contracts.
How Shares of MCX have Performed
In the past five days, shares of MCX have been flat. In the last one month, the share price has dropped 4%. In the last one year, the shares have gained 43.5%.
The stock touched its 52-week high of Rs 9,110 on 1 July 2025 and its 52-week low of Rs 4,410.1 on 11 March 2025.
MCX India Share Price – 1 Month
#4 Computer Age Management Services
Next on our list is Computer Age Management Services (CAMS). Unlike some of the companies listed above, CAMS is not a regulatory monopoly.
The company holds approximately 70% market share in the mutual fund industry, largely as a registrar and transfer agent. It serves top mutual funds like SBI MF, ICICI MF, HDFC MF, and others.
One of the reasons the company enjoys a monopoly is some of the entry barriers.
The business requires significant upfront investment in infrastructure, technology, and regulatory compliance. New entrants face a catch-22 of needing customers to justify investment and needing investment to attract customers. This creates a difficult environment for competitors to scale.
Clients face very high switching costs due to the complexity and volume of data migration and compliance, which keeps them loyal to CAMS.
On the financial front, the company reported consolidated net sales of Rs 3,542 m for Q1 FY26, which was much better than Rs 3,314 m YoY. Net profits for Q1 FY26 came in at Rs 1,083 m from Rs 1,070 m in the corresponding period of last year.
The company has reported a 3-year average CAGR sales growth of 16.1% and 3-year average net profit CAGR growth of 17.4%.
Moving forward, CAMS is focusing on consolidating its leadership in mutual fund infrastructure while expanding through technology-driven fintech services, geographic expansion into smaller cities, and possibly global markets.
How Shares of CAMS have Performed
In the past five days, shares of CAMS have moved up about 2%. In the last one month, the share price has lost about 1%. In the last one year, the shares have lost 12%
The stock touched its 52-week high of Rs 5,367.45 on 12 December 2024 and its 52-week low of Rs 3,030 on 3 March 2025.
CAMS Share Price – 1 Month
#5 Container Corporation of India
Container Corporation of India has traditionally been considered a monopoly in India’s cargo container transportation sector, holding around a 68% market share in the cargo carrier space.
It has enjoyed this dominant position due to strategic control over rail freight networks and government support, which created high entry barriers for competitors.
However, in recent years its monopoly status has weakened as the Indian government permitted private players.
On the financial front, Container Corporation of India reported consolidated net sales of Rs 21,536 m for Q1 FY26, against Rs 21,031 m YoY. The net profits of the company were Rs 2,591 m vs Rs 2,602 m YoY. Revenues have remained stagnant for the last few quarters.
The company has reported a 3-year average CAGR sales growth of 5.1% and 3-year average net profit CAGR growth of a 7%.
The company targets overall volume growth of 13% for FY26, with 10% growth expected in EXIM (exports-imports) and 20% growth in the domestic segment.
The company has planned a capex of Rs 8.6 bn for FY26, focusing on acquiring new containers, container rakes, and setting up new terminals.
Container Corporation of India Share Price – 1 Month
Conclusion
Monopoly stocks come from diverse sectors.
Their dominant positions are often supported by government policies or regulatory barriers, make them potentially safer investment candidates.
However, monopolies may become complacent, focusing on maintaining their current market rather than seeking growth opportunities, which can slow or stop expansion.
Regulated monopolies are also at risk of losing their status if the government allows competition.
Investors should evaluate the company’s fundamentals, corporate governance, and valuations of the stock as key factors when conducting due diligence before making investment decisions.
Happy investing.
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