NCDEX announced its FY24 results stabilizing the operations.

03 September 2024

The group’s total income slightly increased by 0.32% to ₹136 Cr, while expenses decreased by 5% to ₹187 Cr. This led to a consolidated loss after tax of ₹28 Cr, an improvement from the loss of ₹42 Cr reported in the previous year. The financial performance reflects the company’s ongoing efforts to stabilize operations and mitigate the impact of market volatility and regulatory constraints.

Key Developments:

• ​Launched new products like Isabgol Seed futures, Groundnut Futures, Crude Sunflower Oil futures, and Jeera mini futures.
• Maintained leadership with a 97% share in the agri commodity derivatives segment.
  
• Initiated awareness roadshows and increased FPO registrations, resulting in a 12% increase in FPO onboarding.
  
• Focus on policy advocacy and collaboration with stakeholders like NABARD to enhance farmer access to market-driven tools.
  

​Challenges:

• ​The commodity market faced volatility due to geopolitical tensions (Russia-Ukraine, Israel-Palestine) and supply chain disruptions.
  
• Food inflation and weather-related issues, including fears of El Nino, affected the agricultural sector.
  
• Suspensions of key agri-commodity derivative contracts and export bans on commodities like Indian Basmati Rice and Sugar further impacted the market.
  

​Future Outlook:

• ​The company plans to introduce new derivative products, such as options on futures for Guarseed and other commodities.
  
• There is a focus on exploring opportunities in the Carbon Credit space and weather derivatives to align with sustainability goals.