NCDEX
National Commodity and Derivatives Exchange Limited - NCDEX
- CIN
- —
- ISIN
- INE127G01010
- Incorporated
- —
- Registered state
- —
Key valuation
- Market cap
- ₹3,426 Cr
- P/E
- —
- Debt / equity
- 0.0x
- Shares outstanding
- 8,96,94,973
Prices shown are indicative, dealer-quoted and updated periodically — they are not exchange-traded prices and may differ from the price at which a transaction is finally executed.
Price history
Dated dealer-quote averages, plotted on a true time scale. There is no continuous trading behind these numbers.
Business overview
NCDEX is where Indian agricultural commodities get priced. Futures and options across a wide basket, grains, oilseeds, pulses and spices among them, all of it under SEBI regulation. The point of an exchange like this is price discovery and risk management. A farmer or a processor can fix a price ahead of time instead of finding out what the crop is worth on the morning they sell it. Traders take the other side of that trade. The exchange has put real work into financial literacy and drawing more participation out of rural India, which is slower going than it sounds on paper. Technology and the clearing and settlement layer are the unglamorous parts that have to work before any of the rest of it does.
Key highlights
- Incorporated in April 2003
Financial snapshot
FY2026
- Revenue FY2026
- ₹90.44 Cr
- EBITDA
- ₹-101.37 Cr
- PAT
- ₹-46.24 Cr
- Net worth
- ₹1,507.53 Cr
- Total debt
- ₹0.00 Cr
- Cash & equivalents
- ₹204.56 Cr
- Operating cash flow
- ₹-133.70 Cr
- EPS
- ₹-5.16
Reported financials · FY2022–FY2026
Figures in ₹ crore unless stated.
| Particulars | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | YoY | CAGR |
|---|---|---|---|---|---|---|---|
| Profit & loss | |||||||
| Revenue from operationsYoY +2.6%CAGR -5.9% | 115 | 104 | 96 | 88 | 90 | +2.6% | -5.9% |
| Other income | 39 | 32 | 40 | 34 | 63 | — | — |
| Total expenses | 177 | 196 | 187 | 197 | 220 | — | — |
| EBITDAYoY -137.4%CAGR — | -35 | -66 | -47 | 271 | -101 | -137.4% | — |
| Depreciation & amortisation | 24 | 25 | 25 | 25 | 23 | — | — |
| EBIT | -60 | -91 | -72 | 246 | -125 | — | — |
| Finance cost | 2 | 2 | 1 | 1 | 2 | — | — |
| Profit before taxYoY -123.0%CAGR — | -23 | -61 | -33 | 279 | -64 | -123.0% | — |
| Tax expense | -5 | -16 | -6 | 43 | -18 | — | — |
| Profit after taxYoY -119.6%CAGR — | -12 | -42 | -28 | 236 | -46 | -119.6% | — |
| Earnings per share | ₹-1.37 | ₹-4.72 | ₹-3.09 | ₹26.32 | ₹-5.16 | — | — |
| Balance sheet | |||||||
| Net worthYoY +100.8%CAGR +30.1% | 526 | 493 | 476 | 751 | 1,508 | +100.8% | +30.1% |
| Total debt | 0 | 0 | 0 | 0 | 0 | — | — |
| Current liabilities | 373 | 355 | 334 | 441 | 412 | — | — |
| Cash & equivalents | 72 | 64 | 98 | 162 | 205 | — | — |
| Current assets | 697 | 597 | 619 | 794 | 1,208 | — | — |
| Total assetsYoY +60.8%CAGR +21.1% | 931 | 876 | 841 | 1,246 | 2,004 | +60.8% | +21.1% |
| Cash flow | |||||||
| Operating activities | -181 | -97 | -55 | 12 | -134 | — | — |
| Investing activities | 52 | 97 | 96 | 60 | -580 | — | — |
| Financing activities | -8 | -8 | -6 | -7 | 756 | — | — |
| Net change in cash | -137 | -8 | 34 | 65 | 42 | — | — |
Revenue, EBITDA and PAT
₹ crore. A year with no reported figure is left out rather than drawn as zero.
- Revenue
- EBITDA
- PAT
Every ratio here is worked out from the reported figures in the Financials tab, and valuation multiples from the indicative price in the header. Nothing is a stored value. A ratio the filings cannot support (a line not reported, or a zero or negative base) is left out or shown as —, never as a misleading number. Balance-sheet ratios use year-end figures.
Valuation multiples
What the indicative price pays for the latest year's earnings, book and cash. On FY2026 figures and the ₹382 indicative price.
- Market cap
- ₹3,426 Cr
- Enterprise value
- ₹3,222 Cr
- Price / book (P/B)
- 2.27x
- Price / sales (P/S)
- 37.89x
- EV / sales
- 35.62x
- Earnings yield
- -1.4%
- Cash / market cap
- 6.0%
How these are worked out
- Market cap
- Indicative price × shares outstanding
- Enterprise value
- Market cap + debt − cash
- Price / book (P/B)
- Market cap ÷ net worth
- Price / sales (P/S)
- Market cap ÷ revenue from operations
- EV / sales
- Enterprise value ÷ revenue from operations
- Earnings yield
- PAT ÷ market cap
- Cash / market cap
- Cash & equivalents ÷ market cap
IPO / listing status
The company has not announced IPO details such as a DRHP filing, an expected window or its bankers. This section will update once it does.
Research & news
Information currently unavailable
Nothing has been published on NCDEX yet. Research, news and articles tagged with it will appear here when they are.
Documents
Information currently unavailable
No documents have been catalogued for this company yet.