National Commodity & Derivatives Exchange Limited Unlisted Shares - Company Overview
NATIONAL COMMODITY & DERIVATIVES EXCHANGE LIMITED (NCDEX the Exchange) is a leading national-level, technology-driven de-mutualized online commodity exchange...
NCDEX Share Price, Share Details as of March 31, 2024
NCDEX Outstanding Shares: |
50676000 |
Face Value of NCDEX Share |
Rs. 10/- Per Equity Share |
ISIN of NCDEX Share |
INE127G01010 |
Lot Size of NCDEX Share |
100 |
NCDEX Share Price |
Best In Industry |
PAN Number of NCDEX |
AABCN7696K |
GST Number of NCDEX |
27AABCN7696K1ZR |
Incorporation Details of National Commodity & Derivatives Exchange Limited
CIN of NCDEX |
U51909MH2003PLC140116 |
Registration Date of NCDEX |
23 April 2003 |
Category/Sub-category of NCDEX |
Limited by Shares |
NCDEX Registered office address and contact details |
First Floor, Akruti Corporate Park, Near G. E. Garden, L.B.S. Road, Kanjurmarg West, Mumbai 400 078. |
NCDEX Registrar and Transfer Agent address |
Link Intime India Private Limited C 101, 247 Park, LBS Rd, Surya Nagar, Gandhi Nagar, Vikhroli West, Mumbai, Maharashtra 400083. Contact details: 022 - 4918 6270 |
Principal Business Activities of National Commodity & Derivatives Exchange Limited
| Name and Description of main products/services | NIC Code of the product/service | % to total turnover of the Company |
Commodity contracts exchanges |
6611 |
66% |
Board of Directors of National Commodity & Derivatives Exchange Limited
Mr. Chaman Kumar (Chairman and Public Interest Director)
Mr. Vijay Kumar V. (Managing Director & CEO)
Dr. Purvi Mehta (Public Interest Director)
Mr. Nirmalendu Jajodia (Public Interest Director)
Mr. Prem Kumar Malhotra (Public Interest Director)
Dr. Ashok Gulati (Public Interest Director)
Mr. Ashish Bahuguna (Public Interest Director)
Mr. Rakesh Kapur (Shareholder Director)
Mr. Srinath Srinivasan (Shareholder Director)
Mr. Sunil Kumar (Shareholder Director)
Mr. B. Venugopal (Shareholder Director)
Mr. Ravindra Kumar Roye (Public Interest Director)
Particulars of Subsidiary and Associate Companies of National Commodity & Derivatives Exchange Limited
| Name of the Company | Subsidiary/Associate | % of shares held |
| NCDEX e Markets Limited | Subsidiary | 91.02% |
| National Commodity Clearing Limited | Subsidiary | 100.00% |
| NCDEX Institute of Commodity Markets and Research | Subsidiary | 100.00% |
| National E-Repository Limited | Subsidiary | 67.22% |
| Power Exchange India Limited | Associate | 34.21% |
Shareholding Pattern of National Commodity & Derivatives Exchange Limited (As of 31-03-2024)
| S. No. | Shareholders’ Name | Number of shares | % of total Shares of the company |
| 1 | National Stock Exchange of India Limited (NSE) | 76,01,377 | 15.00% |
| 2 | Life Insurance Corporation of India (LIC) | 56,25,000 | 11.10% |
| 3 | National Bank for Agriculture and Rural Development | 56,25,000 | 11.10% |
| 4 | Indian Farmers Fertiliser Cooperative Limited (IFFCOP) | 50,68,000 | 10.00% |
| 5 | Oman India Joint Investment Fund | 50,67,600 | 10.00% |
| 6 | Punjab National Bank (PNB) | 36,94,446 | 7.29% |
| 7 | Canara Bank | 30,55,519 | 6.03% |
| 8 | Investcorp Private Equity Fund I | 25,33,800 | 5.00% |
| 9 | Build India Capital Advisors LLP | 25,33,799 | 5.00% |
| 10 | Shree Renuka Sugars Limited | 25,33,700 | 5.00% |
| 11 | Others | 73,37,759 | 14.48% |
| Total | 5,06,76,000 | 100.00% |
NCDEX Consolidated Balance Sheet (Rs in Lakhs)
| Particulars | 31-03-2024 | 31-03-2023 |
| Non-Current Assets | ||
| Property, plant and equipment | 574 | 826 |
| Right to use assets | 1,371 | 1,544 |
| Intangible assets | 3,733 | 4,186 |
| Intangible assets under development | 446 | 501 |
| Investments in Associate and joint ventures & Other financial assets | 5,502 | 4,404 |
| Investments | - | 255 |
| Bank balances | 2,079 | 8,242 |
| Others | 311 | 317 |
| Deferred tax assets (net) | 5,363 | 4,654 |
| Income tax assets (net) | 1,784 | 2,302 |
| Other non-current assets | 36 | 45 |
| Current Assets | ||
| Investments | 5,751 | 4,092 |
| Trade receivables | 2,292 | 3,174 |
| Cash and cash equivalents | 9,781 | 6,366 |
| Bank balances other than cash and cash equivalents | 38,150 | 39,383 |
| Others | 4,108 | 5,154 |
| Income tax assets (net) | 630 | 412 |
| Other current assets | 1,434 | 1,101 |
| Investment held for sale in associate | 742 | 641 |
| Total Assets | 84,087 | 87,599 |
| Equity | ||
| Equity share capital | 5,068 | 5,068 |
| Other equity | 40,871 | 42,412 |
| Non Controlling Interest | 1,658 | 1,824 |
| Non-current liabilities | ||
| Deposits | 894 | 769 |
| Lease Liabilities | 966 | 1,196 |
| Provisions | 948 | 789 |
| Current Liabilities | ||
| Deposits | 14,059 | 14,688 |
| Trade payable | ||
| Total Outstanding dues of micro enterprises and small enterprises | 83 | 140 |
| Total Outstanding dues of other than micro enterprises and small enterprises | 848 | 763 |
| Lease Liabilities | 547 | 479 |
| Other Financial liabilities | 14,026 | 15,743 |
| Other current liabilities | 2,305 | 2,129 |
| Provisions | 1,421 | 1,384 |
| Current Tax Liabilities (Net) | 393 | 215 |
| Total Equity and Liabilities | 84,087 | 87,599 |
NCDEX Consolidated Profit & Loss Statement (Rs in Lakhs)
| Particulars | 31-03-2024 | 31-03-2023 |
| Income | ||
| Revenue from operations | 9,573 | 10,393 |
| Other Income | 4,027 | 3,164 |
| Total Income | 13,600 | 13,557 |
| Expenses | ||
| Purchase under Corporate Buying Arrangement | - | 1,101 |
| Employee benefits expense | 9,100 | 8,797 |
| Finance cost | 136 | 151 |
| Depreciation & amortization expense | 2,462 | 2,512 |
| Technology expenses | 4,380 | 3,947 |
| Other expenses | 2,638 | 3,116 |
| Total expenses | 18,716 | 19,624 |
| Profit / (loss) before share of Net profit of Joint venture, exceptional items and income tax | -5,116 | -6,067 |
| Less: Exceptional items | 989 | 533 |
| Profit / (Loss) before share of Net profit of Joint venture and income tax | -4,127 | -6,600 |
| Share of net profit from Joint venture and associate accounted for using equity method | 807 | 799 |
| Profit / (Loss) before tax | -3,320 | -5,801 |
| Current tax | 133 | 11 |
| Current tax for earlier years | 9 | -5 |
| Deferred tax (credit) | -692 | -1,570 |
| Profit / (Loss) for the year | -2,770 | -4,237 |
| Other comprehensive Income (OCI): | ||
| Items that will not be reclassified to the Statement of profit and loss: | ||
| Remeasurement of post-employment benefit obligations | -58 | -101 |
| Income tax impact on above | 14 | 27 |
| Share of OCI from Joint venture accounted for using equity method | -4 | 2 |
| Item that will be reclassified to the statement of profit and loss: | ||
| Debt instruments through Other Comprehensive Income | -24 | -86 |
| Income tax impact on above | 3 | 9 |
| Other comprehensive income for the year net of tax | -69 | -149 |
| Total comprehensive income for the year | -2,839 | -4,386 |
| Profit attributable to: | ||
| Owners of the Parent Company | -2,606 | -4,057 |
| Non-controlling interests | -164 | -180 |
| Total Profit after Tax | -2,770 | -4,237 |
| Other comprehensive income attributable to: | ||
| Owners of the Parent Company | -66 | -147 |
| Non-controlling interests | -3 | -2 |
| Total other comprehensive income | -69 | -149 |
| Total comprehensive income attributable to: | ||
| Owners of the Parent Company | -2,672 | -4,204 |
| Non-controlling interests | -167 | -182 |
| Total comprehensive income | -2,839 | -4,386 |
| Earnings per share (Face value of ₹ 10 each) | ||
| Basic (₹) | -5.14 | -8.01 |
| Diluted (₹) | -5.14 | -8.01 |
NCDEX Consolidated Cash Flow Statement (Rs in Lakhs)
| Particulars | 31-03-2024 | 31-03-2023 |
| CASH FLOW FROM OPERATING ACTIVITIES | ||
| Profit before tax | -3,320 | -5,801 |
| Adjustments for: | ||
| Depreciation & amortization | 2,462 | 2,512 |
| (Profit) / Loss on sale / scrap of fixed assets (net) | -46 | -1 |
| (Profit) / Loss on sale of investments | -446 | -312 |
| Dividend Received from Associate entity | -353 | - |
| Interest income | -2,241 | -1,963 |
| Share of profit from Joint venture and associate | -807 | -799 |
| Profit on stake sale in associate | -579 | - |
| Interest on lease liabilities | 136 | 150 |
| Interest on bank overdraft | - | 0.4 |
| Net gain on sale of investments measured at Fair Value through Profit or Loss | -30 | -19 |
| Remeasurement of Lease Liabilities | -26 | - |
| Provision for doubtful debts / ECL | 18 | 1 |
| Provision for Impairment on Fixed Asset (Software) | - | 7 |
| Sundry balances written off/ (written back) | 2 | -24 |
| Bad Debts | 4 | - |
| Operating profit before working capital changes | -5,226 | -6,249 |
| Movements in working capital: | ||
| Decrease / (Increase) in trade receivables | 860 | -284 |
| Decrease / (Increase) in other current assets | -335 | -479 |
| Decrease / (Increase) in other non-current assets | 14 | 4 |
| Decrease / (Increase) other financial assets | 973 | -603 |
| Increase / (Decrease) in trade payables | 28 | 10 |
| Increase / (Decrease) in provisions | 138 | -39 |
| Increase / (Decrease) in financial liabilities | -1,746 | -1,515 |
| Increase / (Decrease) in other current liabilities | 176 | -15 |
| Decrease / (Increase) in Deposits | -504 | -557 |
| Cash generated / (used) from operations | -5,623 | -9,727 |
| Contribution to Core SGF by Exchange and Settlement Penalties (net of funding from SGF) | 1848 | 122 |
| Direct taxes (paid) / refund (net) | -1767 | -84 |
| Net cash generated / (used) in operating activities | -5,541 | -9,689 |
| CASH FLOWS FROM INVESTING ACTIVITIES | ||
| Purchase of fixed assets, including intangible assets, CWIP and capital advances | -1,236 | -1,394 |
| Proceeds from sale / disposal of fixed assets | 146 | 24 |
| Stake sale in associate (PXIL) | 683 | - |
| Purchase of current investments | -2,14,645 | -1,01,185 |
| Proceeds from sale of current investments | 2,13,692 | 1,01,082 |
| Investment in Joint Venture | -500 | 3,401 |
| Dividend Received from Associate | 353 | -211144 |
| Interest received | 3,709 | 218930 |
| Investment in fixed deposits (original maturity of more than three months) | -3,55,191 | -2,11,144 |
| Redemption/Maturity of fixed deposits (original maturity of more than three months) | 3,62,586 | 2,18,930 |
| Net cash generated / (used) in investing activities | 9,597 | 9,714 |
| CASH FLOWS FROM FINANCING ACTIVITIES | ||
| Proceeds from issuance of shares to non-controlling interest | - | 5 |
| Finance Cost Paid | - | -0.4 |
| Dividend paid | - | -228 |
| Repayment of lease Liabilities | -641 | -618 |
| Net cash generated / (used) from financing activities | -641 | -841 |
| Net increase / (decrease) in cash and cash equivalents | 3,415 | -816 |
| Cash and cash equivalents at the beginning of the year | 6,366 | 7,183 |
| Cash and cash equivalents at the end of the year | 9,781 | 6,366 |
| Components of cash and cash equivalents | ||
| Cash and cheques on hand With Banks | 0.2 | 0.14 |
| on current accounts | 1,485 | 1,458 |
| on fixed deposits (Original maturity being three months or less) | 6,133 | 2,144 |
| Investments in mutual funds (Highly Liquid Funds) | 2,163 | 2,764 |
| Total | 9,781 | 6,366 |
Here is a summary of the Cash Flow Statement for the years 2024 and 2023:
Cash Flow from Operating Activities: The cash flow from operating activities shows a significant outflow, with net cash used increasing from Rs. 9,689 lakhs in FY 2022-23 to Rs. 5,541 lakhs in FY 2023-24. This negative cash flow is primarily due to a substantial loss before tax, which worsened from Rs. 5,801 lakhs to Rs. 3,320 lakhs. Despite adjustments such as depreciation and amortization, provisions for doubtful debts, and interest on lease liabilities, the overall operating cash flow remains negative. Movements in working capital had a mixed impact: a decrease in trade receivables provided some relief, while increases in trade payables and other financial liabilities were offset by significant outflows related to other financial assets and deposits. The overall result is a substantial net outflow from operating activities, reflecting ongoing operational challenges.
Cash Flow from Investing Activities: In investing activities, there was a net inflow of Rs. 9,597 lakhs in FY 2023-24, compared to a smaller inflow of Rs. 9,714 lakhs in FY 2022-23. This positive cash flow was largely driven by substantial changes in investments. Notably, there was a major inflow from the redemption and maturity of fixed deposits (Rs. 3,62,586 lakhs) and proceeds from the sale of current investments (Rs. 2,13,692 lakhs), which outweighed the cash outflows for purchasing current investments (Rs. 2,14,645 lakhs). Additionally, the company realized some cash inflows from the sale of a stake in an associate and interest received, contributing positively to the net cash generated from investing activities.
Cash Flow from Financing Activities: The cash flow from financing activities shows a small net outflow of Rs. 641 lakhs in FY 2023-24, slightly improved from Rs. 841 lakhs in FY 2022-23. This outflow primarily resulted from the repayment of lease liabilities and minimal financing activities, including no significant proceeds from the issuance of shares or payment of finance costs. The absence of dividend payments in FY 2023-24 contrasts with the previous year 's payments, highlighting a strategic shift in financial management.
Net Increase in Cash and Cash Equivalents: The overall cash position improved with a net increase of Rs. 3,415 lakhs in cash and cash equivalents for FY 2023-24, compared to a decrease of Rs. 816 lakhs in FY 2022-23. This increase was largely due to the positive cash flows from investing activities, which offset the negative cash flows from operating and financing activities. As a result, the ending cash and cash equivalents rose to Rs. 9,781 lakhs from Rs. 6,366 lakhs at the beginning of the year. This improvement in liquidity is supported by higher balances in cash and cheques, current accounts, and fixed deposits with short maturities.
Financial Ratios of NCDEX
| Particulars | 2024 | 2023 |
|---|---|---|
| Current Ratio (In times) | 1.6 | 1.5 |
| Debt Service Coverage Ratio (In times) | 2.7 | -8.4 |
| Return on Equity Ratio (in %) | -1% | -11.60% |
| Trade receivables turnover ratio (in times) | 8.8 | 6.4 |
| Trade payables turnover ratio (in times) | 7.8 | 8.1 |
| Net Capital turnover ratio (in times) | 0.8 | 1 |
| Net profit ratio (in %) | -11.60% | -148.10% |
| Return on capital employed (in %) | -2.50% | -15.80% |
| Return of FD Investment (%) | 7% | 5.60% |
| Return on Liquid Mutual Fund (%) | 7% | 5.30% |
| Return on Bond Investments (%) | 7% | 7% |
Here is a summary of the financial and operational metrics for NCDEX for the year 2024 and 2023:
Current Ratio:
The current ratio has improved slightly from 1.5 in 2023 to 1.6 in 2024. This ratio measures the company 's ability to meet its short-term liabilities with its short-term assets. An increase in the current ratio suggests a marginal improvement in liquidity, indicating that the company has a slightly better cushion to cover its current obligations.
Debt Service Coverage Ratio (DSCR):
The Debt Service Coverage Ratio has significantly improved from -8.4 in 2023 to 2.7 in 2024. This ratio assesses the company’s ability to service its debt from its operating income. The negative DSCR in 2023 indicates severe difficulties in meeting debt obligations, while the positive ratio of 2.7 in 2024 suggests that the company is now comfortably covering its debt service requirements
Return on Equity (ROE):
The Return on Equity ratio has improved from -11.60% in 2023 to -1% in 2024. This ratio measures the profitability relative to shareholders ' equity. Although still negative, the improvement indicates that the company 's financial performance has become less adverse.
Trade Receivables Turnover Ratio:
The Trade Receivables Turnover Ratio increased from 6.4 in 2023 to 8.8 in 2024. This ratio indicates how efficiently the company collects its receivables. An increase suggests improved efficiency in managing and collecting accounts receivable.
Trade Payables Turnover Ratio:
The Trade Payables Turnover Ratio decreased from 8.1 in 2023 to 7.8 in 2024. This ratio measures how quickly the company pays its trade payables. A decrease in the ratio implies that the company is taking slightly longer to pay its suppliers.
Net Capital Turnover Ratio:
The Net Capital Turnover Ratio decreased from 1 in 2023 to 0.8 in 2024. This ratio measures how efficiently the company uses its capital to generate sales. A decrease suggests a decline in capital efficiency, meaning the company is generating less revenue per unit of capital employed.
Net Profit Ratio:
The Net Profit Ratio improved from -148.10% in 2023 to -11.60% in 2024. This ratio measures the percentage of revenue that translates into profit. Although still negative, the improvement indicates that the company has significantly reduced its losses relative to revenue.
Return on Capital Employed (ROCE):
The Return on Capital Employed decreased from -15.80% in 2023 to -2.50% in 2024. This ratio evaluates the efficiency of capital use in generating profits. The decrease in the negative ROCE suggests an improvement in the company’s ability to generate returns from its capital investments, though it remains below positive levels.
Return on Fixed Deposit (FD) Investment:
The Return on Fixed Deposit Investments improved from 5.60% in 2023 to 7% in 2024. This ratio reflects the return earned on fixed deposits. The increase indicates that the company has achieved higher returns on its FD investments.
1Return on Liquid Mutual Fund:
The Return on Liquid Mutual Funds improved from 5.30% in 2023 to 7% in 2024. This ratio measures the return earned from liquid mutual fund investments. The improvement reflects better performance or higher returns from these investments, suggesting effective investment strategies in liquid assets.
Return on Bond Investments:
The Return on Bond Investments remained stable at 7% in both 2023 and 2024. This ratio shows the return earned from bond investments. The stability indicates consistent performance from bond investments, reflecting a stable return environment or effective bond portfolio management.
Dividend History
| Particulars | 2024 | 2023 |
|---|---|---|
| Dividend Per Share | - | - |
| Retained Earnings (Rs. In Lakhs) | 5,766 | 3,351 |
A V Thomas International Limited Annual Report 2023-24
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