Company Presentation
National Commodity & Derivatives Exchange Limited (NCDEX), established in 2003 and headquartered in Mumbai, is a professionally managed online multi-commodity exchange, functioning as a leading platform for trading agricultural commodities in India by providing services for trading, clearing, and settlement of commodity derivatives. NCDEX plays a crucial role in enhancing market transparency and aiding price discovery in the agricultural sector.
Financial Overview:
NCDEX's financials (in Cr.) indicate fluctuations over recent years:
Valuation Metrics:
The last deal price was ₹210/share (as of May 1, 2025), implying a market capitalization of ₹1463 Cr. The Book Value is 69.73, and the P/B Ratio is ~3.01x. The P/E Ratio (FY24) is N/A.
Shareholding Pattern:
The shareholding pattern consists of:
Investment Rationale:
Key Risks:
IPO Timeline & Exit Options:
UnlistedZone View:
NCDEX, with its strong market position and regulatory compliance, presents a promising investment opportunity in the commodity exchange sector. The planned IPO offers potential for value appreciation, subject to market conditions and regulatory approvals. UnlistedZone rates NCDEX as a Watchlist, suggesting consideration for accumulation for a 3-5 year investment horizon, with a target IPO valuation of ₹1,500-2,000 Cr.
Additional Details:
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