amit@unlistedkraft.com
+91-9599071664
+91-9599071664
National Commodity & Derivatives Exchange (NCDEX)
DRHP Status : not listed
220
| (in Rs. Crore) | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|
| Revenue from Operations | 95.73 | 103.93 | 115.33 | 112.79 | 131.84 | 148.84 |
| Growth % | -7.89% | -9.88% | 2.25% | -14.45% | -11.42% | 0 |
| Operating Expenses | 161.18 | 169.61 | 150.77 | 146.87 | 150.75 | 160.83 |
| Growth % | -4.97% | 12.50% | 2.66% | -2.57% | -6.27% | 0 |
| Operating Profit | -65.45 | -65.68 | -35.44 | -34.08 | -18.91 | -11.99 |
| PBTax | -33.20 | -58.01 | -16.88 | -21.12 | 2.40 | 16.10 |
| PAT | -27.70 | -42.37 | -12.27 | -14.64 | 8.46 | 18.05 |
| Growth % | -34.62% | -245.31% | -16.19% | -273.05% | -53.13% | 0 |
| PAT % | -28.94% | -40.77% | -10.64% | -12.98% | 6.42% | 12.13% |
| (in Rs. Crore) | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 |
|---|---|---|---|---|---|---|
| Equity Capital | 50.68 | 50.68 | 50.68 | 50.68 | 50.68 | 50.68 |
| Reserves | 425.29 | 442.36 | 475.36 | 476.99 | 479.99 | 435.92 |
| Total Equity | 475.97 | 493.04 | 526.04 | 527.67 | 530.67 | 486.60 |
| Borrowings | 65.0 | 65.0 | 63.9 | 0.0 | 0.0 | 0.0 |
| Other Non-Current Liabilities | 0.1 | 0.2 | 1.5 | 0.5 | 4.8 | 4.5 |
| Total NC Liabilities | 65.0 | 65.1 | 65.4 | 0.5 | 4.8 | 4.5 |
| Borrowings | 0 | 0 | 0 | 64.5 | 65.0 | 0 |
| Other Financial Liabilities | 18.60 | 19.65 | 27.22 | 15.24 | 8.99 | 0.34 |
| Total Current Liabilities | 336.82 | 355.41 | 372.52 | 526.50 | 443.37 | 340.21 |
| Equity + Liabilities | 840.87 | 875.99 | 931.34 | 1074.19 | 985.97 | 828.44 |
| Fixed Assets (incl. WIP) | 43.07 | 50.12 | 54.77 | 61.75 | 68.95 | 76.26 |
| Other Non Financial Assets | 168.92 | 222.64 | 179.35 | 111.78 | 177.64 | 80.57 |
| Total Non Current Assets | 211.99 | 272.76 | 234.12 | 173.53 | 246.59 | 156.83 |
| Trade Receivables | 22.92 | 31.74 | 28.91 | 31.42 | 120.73 | 78.48 |
| Cash & Cash Equivalents | 479.31 | 457.49 | 553.51 | 718.65 | 600.93 | 538.55 |
| Other Current Assets | 27.6 | 8.6 | 5.6 | 34.6 | 240.1 | 353.2 |
| Total Current Assets | 621.46 | 596.82 | 697.22 | 900.67 | 739.38 | 671.61 |
| Total Assets | 840.87 | 875.99 | 931.34 | 1074.20 | 985.97 | 828.44 |
| Name | Holding |
|---|---|
| National Stock Exchange of India Limited | 15.00% |
| Life Insurance Corporation of India | 11.10% |
| National Bank for Agriculture and Rural Development | 11.10% |
| Indian Farmers Fertiliser Cooperative Limited (IFFCO) | 10.00% |
| Oman India Joint Investment Fund (OIJIF) | 10.00% |
| Punjab National Bank | 7.29% |
| Build India Capital Advisors LLP | 5.00% |
| Canara Bank | 6.03% |
| Investcorp Private Equity Fund - I (previously known as IDFC Private Equity Fund III) | 5.00% |
| Shree Renuka Sugars Limited | 5.00% |
| Others | 14.48% |
NCDEX, or National Commodity and Derivatives Exchange Limited, is an Indian online commodity and derivative exchange based in India. It is owned by the Ministry of Finance, Government of India.
NCDEX, established in 2003, is one of India's premier commodity exchanges, specializing in commodity derivatives trading with a primary focus on agricultural products. It facilitates electronic trading of a wide range of commodities, including agricultural staples like chana, castor seed, jeera, and turmeric, alongside metals and energy commodities such as gold, silver, and crude oil. The exchange continually expands its portfolio, regularly introducing new commodities to meet market demands. The Exchange also has four subsidiaries: NCDEX e Markets Limited, National Commodity Clearing Limited, NCDEX Institute of Commodity Markets and Research, and National E-Repository Limited.
| Name | Designation | Experience | Linkedin Profile |
|---|---|---|---|
| Mr. Ashish Bahuguna | Chairman | 30+ |  |
| Mr. Arun Raste | MD & CEO | 30+ | |
| Atul Roongta | CFO | 30+ | |
Strengths
- Established Market Leader: NCDEX dominates the agri-commodity derivatives segment with a 97% market share. This leadership is reflected in its Average Daily Open Interest (ADOI) growth of 10%, increasing to ₹2,278 crores in FY 2023-24 from ₹2,069 crores in the previous year​
- Resilience During Volatile Periods:Despite market volatility, NCDEX's Average Daily Traded Value (ADTV) grew by 2%, from ₹834 crores in FY 2022-23 to ₹848 crores in FY 2023-24.
Weaknesses
- Global Market Volatility: Factors such as the Russia-Ukraine conflict, food inflation, and climate events (e.g., El Niño) contributed to commodity market disruptions in FY 2023-24. These factors increase the risk of further volatility, with daily turnover occasionally hitting peaks like ₹2,027 crores.
- Regulatory and Export Bans: Policy measures, including India's export bans on Basmati rice and sugar, directly affect commodity trading volumes and exchange profitability
+91-9599071664
amit@unlistedkraft.com