| P&L Statement | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue | 115 | 104 | 96 | 88 |
| Cost of Material Consumed | 0 | 11 | 0 | 0 |
| Change in Inventory | 0 | 0 | 0 | 0 |
| Gross Margins | 100 | 89.42 | 100 | 100 |
| Employee Benefit Expenses | 81 | 88 | 91 | 96 |
| Other Expenses | 69 | 71 | 70 | 75 |
| EBITDA | -35 | -66 | -65 | -83 |
| OPM | -30.43 | -63.46 | -67.71 | -94.32 |
| Other Income | 45 | 35 | 58 | 388 |
| Finance Cost | 2 | 1.5 | 1.3 | 1 |
| D&A | 24 | 25 | 25 | 25 |
| EBIT | -59 | -91 | -90 | -108 |
| EBIT Margins | -51.3 | -87.5 | -93.75 | -122.73 |
| PBT | -17 | -58 | -33 | 279 |
| PBT Margins | -14.78 | -55.77 | -34.37 | 317.05 |
| Tax | -5 | -16 | -5 | 43 |
| PAT | -12 | -42 | -28 | 236 |
| NPM | -10.43 | -40.38 | -29.17 | 268.18 |
| EPS | -2.37 | -8.29 | -5.52 | 46.57 |
| Financial Ratios | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Operating Profit Margin | -30.43 | -63.46 | -67.71 | -94.32 |
| Net Profit Margin | -10.43 | -40.38 | -29.17 | 268.18 |
| Earning Per Share (Diluted) | -2.37 | -8.29 | -5.52 | 46.57 |
| Assets | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Fixed Assets | 10 | 8 | 43 | 38 |
| CWIP | 0 | 0 | 4 | 1.8 |
| Investments | 36 | 88 | 113 | 328 |
| Trade Receivables | 29 | 32 | 23 | 23 |
| Inventory | 0 | 0 | 0 | 0 |
| Other Assets | 856 | 748 | 658 | 855.2 |
| Total Assets | 931 | 876 | 841 | 1246 |
| Liabilities | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Share Capital | 50.68 | 50.68 | 50.68 | 50.68 |
| FV | 10 | 10 | 10 | 10 |
| Reserves | 455 | 424 | 425 | 699 |
| Borrowings | 0 | 0 | 0 | 0 |
| Trade Payables | 11 | 9 | 9 | 10 |
| Other Liabilities | 414.32 | 392.32 | 356.32 | 486.32 |
| Total Liabilities | 931 | 876 | 841 | 1246 |
| Cash-Flow Statement | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| PBT | -17 | -58 | -33 | 279 |
| OPBWC | -23 | -62 | -52 | -79 |
| Change in Receivables | 1 | -3 | 8.6 | 0.34 |
| Change in Inventories | 0 | 0 | 0 | -13 |
| Change in Payables | -5 | 0 | 0.3 | 1.16 |
| Other Changes | -146 | -31 | 6.1 | 101 |
| Working Capital Change | -150 | -34 | 15 | 89.5 |
| Cash Generated From Operations | -173 | -96 | -37 | 10.5 |
| Tax | -8 | -1 | -18 | 1.5 |
| Cash Flow From Operations | -181 | -97 | -55 | 12 |
| Purchase of PPE | -14 | -14 | -12 | -13 |
| Sale of PPE | 1 | 0 | 1 | 0 |
| Cash Flow From Investment | 52 | 97 | 96 | 60 |
| Borrowing | 0 | 0 | 0 | 0 |
| Dividend | -2.42 | -2.28 | 0 | -1 |
| Equity | 0.03 | 0.05 | 0 | 0 |
| Others From Financing | -5.61 | -5.77 | -6 | -6 |
| Cash Flow from Financing | -8 | -8 | -6 | -7 |
| Net Cash Generated | -137 | -8 | 35 | 65 |
| Cash at the Start | 353 | 72 | 64 | 98 |
| Cash at the End | 116 | 64 | 99 | 163 |
National Commodity & Derivatives Exchange (NCDEX) Limited is one of India’s premier commodity derivatives exchanges, established to provide a transparent, technology-driven platform for trading a wide range of agricultural commodities. Founded in 2003 and headquartered in Mumbai, NCDEX plays a pivotal role in price discovery, risk management, and creating a structured ecosystem for agro-based markets. With a strong regulatory framework under SEBI and an advanced trading infrastructure, NCDEX has emerged as a trusted marketplace for farmers, processors, traders, and institutional participants. Its initiatives in promoting warehousing, collateral management, and electronic negotiable warehouse receipts (e-NWRs) have strengthened its influence across the agri-value chain.
The unlisted shares of NCDEX attract considerable interest from investors who believe in the long-term potential of India’s commodity markets. The exchange has been increasingly expanding its offerings, strengthening risk management mechanisms, and integrating advanced digital tools to boost trading participation. NCDEX’s focus on agricultural products such as spices, pulses, oilseeds, and cereals positions it uniquely in a sector that is closely tied to India’s rural economy. Over the years, strategic partnerships, technology upgrades, and participation from institutional shareholders have contributed to its financial stability and operational credibility, making its unlisted equity appealing for investors seeking exposure to India’s commodity ecosystem before any potential listing.
From an investment standpoint, NCDEX unlisted shares offer a medium- to long-term opportunity, especially as India’s agricultural supply chain becomes more formalized and digitized. Growth in derivatives trading, government emphasis on market-linked price mechanisms, and rising need for hedging solutions are expected to benefit the exchange in the coming years. While unlisted shares typically come with limited liquidity and depend heavily on market sentiment, NCDEX’s strong brand value and systemic significance in commodity markets provide confidence to investors. With increasing awareness about risk management tools among farmers and agri-businesses, NCDEX stands well-positioned to capitalize on structural growth trends, making its unlisted stock an attractive consideration for those looking to participate in India's expanding commodity derivatives landscape.
Q:1 How do I confirm the booking of NCDEX Limited Unlisted Shares?Answer: You confirm the booking of National Commodity & Derivatives Exchange (NCDEX) Limited Unlisted Shares with us at a trading price.
Q:2 What documents do I need to provide for purchasing NCDEX Limited Unlisted Shares?Answer: You need to provide your client master report, PAN Card, and a Cancelled Cheque if you are not transferring funds from the bank account mentioned in the CMR Copy.These are KYC documents required as per SEBI regulations.
Q:3 How do I transfer funds for the purchase of NCDEX Limited Unlisted Shares?Answer: We will provide the bank details.You need to transfer funds to that account using RTGS, NEFT, IMPS, or CHEQUE TRANSFER.
Q:4 Can I make a cash deposit for purchasing NCDEX Limited Unlisted Shares?Answer: No, cash deposit is not allowed.Payment must be done through RTGS, NEFT, IMPS, or CHEQUE TRANSFER only.
Q:5 From which bank account should I make the payment for NCDEX Limited Unlisted Shares?
Answer: Payment has to be done from the same account in which the shares are to be credited.
Q:6 What is the significance of the client master report (CMR) in the purchase process?Answer: The client master report (CMR) is required as part of the KYC documentation to verify your account details and ensure compliance with SEBI regulations.
Q:7 Is there a specific format for transferring funds when buying NCDEX Limited Unlisted Shares?Answer: Yes, the payment must be done using RTGS, NEFT, IMPS, or CHEQUE TRANSFER.Cash deposits are not permitted.
Q:8 What happens if I do not provide the required KYC documents for purchasing NCDEX Limited Unlisted Shares?Answer: If you do not provide the required KYC documents, your transaction may not be processed as it does not comply with SEBI regulations.