At Unlisted Radar, we help investors uncover early opportunities in India’s unlisted share market. One such company that has consistently attracted attention is the National Commodity & Derivatives Exchange (NCDEX) Limited, India’s second-largest commodity derivatives exchange.
If you are tracking the NCDEX Unlisted Shares Price or considering whether National Commodity & Derivatives Exchange (NCDEX) Limited Unlisted Shares fit into your portfolio, here’s a complete breakdown of the company’s fundamentals, market outlook, and IPO potential.
Founded in 2003 and headquartered in Mumbai, NCDEX (National Commodity & Derivatives Exchange Limited) is a leading online commodity exchange that facilitates transparent, technology-driven trading in commodity derivatives.
Unlike stock exchanges, NCDEX is focused on agriculture and agri-based commodities, making it a vital platform for:
The exchange is regulated by the Securities and Exchange Board of India (SEBI), ensuring transparency, compliance, and reliability.
Since NCDEX is not listed on NSE or BSE, its shares are currently available in the unlisted market via private placements and secondary transactions. The NCDEX Unlisted Shares Price is influenced by:
For investors, this means entering through National Commodity & Derivatives Exchange (NCDEX) Limited Unlisted Shares today could offer early exposure before the company goes public.
✔ Agri-Market Leader – Focused on agricultural commodities like guar seed, chana, soybean, mustard seed, and jeera.
✔ Farmer-Centric Platform – Offers tools that help farmer producer organizations (FPOs) manage price risks.
✔ Institutional Backing – Supported by NABARD, LIC, IFFCO, Punjab National Bank, and NSE Investments.
✔ Regulated by SEBI – Strong governance and compliance framework.
✔ IPO Potential – Investors expect significant value unlocking through its future listing.
NCDEX plays a strategic role in India’s agricultural economy, with consistent growth driven by:
These trends make the NCDEX Unlisted Shares Price an attractive focus for investors betting on India’s agri-market reforms and financial infrastructure growth.
Like every unlisted investment, National Commodity & Derivatives Exchange (NCDEX) Limited Unlisted Shares carry certain risks:
IPO Uncertainty – The IPO timeline has faced delays.
Competition – NCDEX competes with MCX (Multi Commodity Exchange), India’s market leader.
Liquidity – Unlisted shares are harder to buy or sell before listing.
Policy Sensitivity – Commodity trading is closely tied to government regulations.
At Unlisted Radar, we make the unlisted market clear and actionable by providing:
✔ Regular updates on NCDEX Unlisted Shares Price
✔ Detailed insights into SEBI filings and IPO developments
✔ Independent financial and sector analysis
✔ Risk–reward breakdowns tailored for investors
With our insights, you get the right knowledge to make confident, well-timed investments.
National Commodity & Derivatives Exchange (NCDEX) Limited is more than just a trading platform—it is a backbone of India’s agri-economy. With its IPO on the horizon, the NCDEX Unlisted Shares offer investors a rare opportunity to gain early exposure to a company deeply integrated with India’s growth story.
For those aiming to stay ahead, tracking the NCDEX Unlisted Shares Price through Unlisted Radar ensures that you invest wisely and profit from tomorrow’s listed opportunities today.
Read More| P&L Statement | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue | 115.00 | 104.00 | 96.00 | 88.00 |
| Cost of Material Consumed | 0.00 | 11.00 | 0.00 | 0.00 |
| Gross Margins | 100.00 | 89.42 | 100.00 | 100.00 |
| Change in Inventory | 0.00 | 0.00 | 0.00 | 0.00 |
| Employee Benefit Expenses | 81.00 | 88.00 | 91.00 | 96.00 |
| Other Expenses | 69.00 | 71.00 | 70.00 | 75.00 |
| EBITDA | -35.00 | -66.00 | -65.00 | -83.00 |
| OPM | -30.43 | -63.46 | -67.71 | -94.32 |
| Other Income | 45.00 | 35.00 | 58.00 | 388.00 |
| Finance Cost | 2.00 | 1.50 | 1.30 | 1.00 |
| D&A | 24.00 | 25.00 | 25.00 | 25.00 |
| EBIT | -59.00 | -91.00 | -90.00 | -108.00 |
| EBIT Margins | -51.30 | -87.50 | -93.75 | -122.73 |
| PBT | -17.00 | -58.00 | -33.00 | 279.00 |
| PBT Margins | -14.78 | -55.77 | -34.37 | 317.05 |
| TAX | -5.00 | -16.00 | -5.00 | 43.00 |
| PAT | -12.00 | -42.00 | -28.00 | 236.00 |
| 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 |
| Balance Sheet | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Fixed Assets | 10.00 | 8.00 | 43.00 | 38.00 |
| CWIP | 0.00 | 0.00 | 4.00 | 1.80 |
| Investments | 36.00 | 88.00 | 113.00 | 328.00 |
| Trade Receivables | 29.00 | 32.00 | 23.00 | 23.00 |
| Inventory | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Assets | 856.00 | 748.00 | 658.00 | 855.20 |
| Total Assets | 931 | 876 | 841 | 1246 |
| Liabilities | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Share Capital | 50.68 | 50.68 | 50.68 | 50.68 |
| FV | 10.00 | 10.00 | 10.00 | 10.00 |
| Reserves | 455.00 | 424.00 | 425.00 | 699.00 |
| Borrowings | 0.00 | 0.00 | 0.00 | 0.00 |
| Trade Payables | 11.00 | 9.00 | 9.00 | 10.00 |
| Other Liabilities | 414.32 | 392.32 | 356.32 | 486.32 |
| Total Liabilities | 941 | 886 | 851 | 1256 |
| Cash-Flow Statement | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| PBT | -17.00 | -58.00 | -33.00 | 279.00 |
| OPBWC | -23.00 | -62.00 | -52.00 | -79.00 |
| Change in Receivables | 1.00 | -3.00 | 8.60 | 0.34 |
| Change in Inventory | 0.00 | 0.00 | 0.00 | -13.00 |
| Change in Payables | -5.00 | 0.00 | 0.30 | 1.16 |
| Other Changes | -146.00 | -31.00 | 6.10 | 101.00 |
| Working Capital Change | -150.00 | -34.00 | 15.00 | 89.50 |
| Cash Generated From Operations | -173.00 | -96.00 | -37.00 | 10.50 |
| Tax | -8.00 | -1.00 | -18.00 | 1.50 |
| Cash Flow From Operations | -181.00 | -97.00 | -55.00 | 12.00 |
| Purchase of PPE | -14.00 | -14.00 | -12.00 | -13.00 |
| Sale of PPE | 1.00 | 0.00 | 1.00 | 0.00 |
| Cash Flow From Investment | 52.00 | 97.00 | 96.00 | 60.00 |
| Borrowing | 0.00 | 0.00 | 0.00 | 0.00 |
| Divided | -2.42 | -2.28 | 0.00 | -1.00 |
| Equity | 0.03 | 0.05 | 0.00 | 0.00 |
| Others From Financing | -5.61 | -5.77 | -6.00 | -6.00 |
| Cash Flow from Financing | -8.00 | -8.00 | -6.00 | -7.00 |
| Net Cash Generated | -137.00 | -8.00 | 35.00 | 65.00 |
| Cash at the Start | 253.00 | 72.00 | 64.00 | 98.00 |
| Cash at the End | 116.00 | 64.00 | 99.00 | 163.00 |
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