INDIAN COMMODITY EXCHANGE LIMITED UNLISTED SHARE
ABOUT INDIAN COMMODITY EXCHANGE LIMITED
INDIAN COMMODITY EXCHANGE LIMITEDis a recognized Commodity Exchange of India regulated by SEBI (Securities and Exchange Board of India), having demutualized corporate structure, online trading, clearing, and settlement with best practices. Indian Commodity Exchange Limited aims to fulfill the objective of serving the benefits of the price discovery and risk management of the commodity derivatives market to the producers of that commodity.
In 2017, Indian Commodity Exchange Limited started its operations after obtaining permission from SEBI to re-commence its trading operations. In August 2017, it launched the Diamond Derivativecontract of 1 carat. Indian Commodity Exchange Limited became the first exchange to launch the Diamond Derivative contract. In August 2018, the exchange launched Steel Long contract. In July 2019, the PaddyBasmati derivative contract was launched. Today, the Exchange has 14 commodities for trading on its platform. In December 2019, ICEX MF Platform was launched, a mutual fund platform, to facilitate transactions in Mutual Funds.
The Exchange has outsourced the services of clearing, settlement, deliveries, risk management services, and any other applicable post-trade services to Metropolitan Clearing Corporation of India Limited.
Indian Commodity Exchange Limited is the first in Exchange in India to adopt a global hi-tech platform that ensures automatic and seamless switch-over from its Data Center (DC) to the Disaster Recovery (DR) site with zero data loss in case of exigencies. The technology platform has highly optimized processing techniques, which enables the system to handle very large orders with latencies under 300 microseconds.
Indian Commodity Exchange Limited has a network of 138 SEBIregisteredmembers, having 1298 Authorized Persons, operating through 3340 terminals including Computer to Computer Link (CTCL) across 329 cities/towns across India as of 31st March 2020.
INCORPORATION DETAILS
CIN | U67120GJ2008PLC99142 |
Registration Date | 18 August 2008 |
Category/Sub-category of the Company | Company Limited by Shares |
Address of the Registered office and contact details | 1st Floor, Office - 109, Nodh No.-1158 to 63/65/9, Hat Faliyu,Mahidharpura, Surat- 395003, Gujarat. Tel. No : +91- 261-2609960/3009960 |
Name, Address and Contact Details of Registrar and Transfer Agent, if any | KFin Technologies Private Limited Selenium Tower B, Plot numbers 31 & 32 Nanakramguda, Financial District, Gachibowli Hyderabad – 500 032 Email: einward.ris@kfintech.com |
PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY
Name and Description of main products/services | NIC Code of the product/service | % to total turnover of the Company |
Exchange Operation | 66110 | 100% |
BOARD OF DIRECTORS
Mr. Vijay Kumar Sharma (Chairman, Public Interest Director)
Mrs. Chitra Shringare (Public Interest Director)
Mr. Suresh Kumar Agarwal (Public Interest Director)
Mr. Sanjit Prasad (Managing Director & CEO)
PARTICULARS OF SUBSIDIARY AND ASSOCIATE COMPANIES
INDIAN COMMODITY EXCHANGE LIMITED does not have any subsidiary or associate company.
INDIAN COMMODITY EXCHANGE LIMITED UNLISTED SHARE DETAILS
Total Available Shares: | 53,35,07,476 |
Face Value: | Rs. Per Equity Share |
ISIN: | INE678L01012 |
PAN NO. | AABCI9479D |
Lot Size: | 1000 |
Last Traded Price | 9 |
Market Cap: | 533.51 CRORE |
SHAREHOLDING PATTERN
(As on 31-03-2020)
S. No. | Shareholders’ Name | Number of shares | % of total Shares of the company |
1 | Indiabulls Housing Finance Limited (Promoter) | 3,00,00,000 | 5.62% |
2 | MMTC Limited (Promoter) | 3,20,00,000 | 6% |
3 | Reliance Exchange next Limited (Promoter) | 8,71,00,000 | 16.33% |
4 | Reliance Corporate Advisory Services Limited (Promoter) | 1,73,06,671 | 3.24% |
5 | Central Warehousing Corporation | 5,89,63,956 | 11.05% |
6 | Deputy Director (PMLA), Director of Enforcement, Ahmedabad | 4,82,09,060 | 9.04% |
7 | Indian Potash Limited | 2,66,75,000 | 5.00% |
8 | Other Public Shareholding | 23,32,52,789 | 44.65% |
| Total | 53,35,07,476 | 100.00% |
INDUSTRY OUTLOOK
Until 2015, commodity futures market was regulated by Forward Market Commission (FMC).In 2015, after the merger of FMC with Securities and Exchange Board of India (SEBI), SEBIbecame the regulator of commodity future market. Commodity Exchanges play a vital role inpromoting growth, transparency and efficiency of the commodity futures markets. This role isdefined by their functions, infrastructure capabilities, trading procedures, settlement and riskmanagement practices.
FY 2020 was steeped with uncertainties for India’s commodity markets. A slackenedgrowth of the economy, US-China trade war, weak currency due to frequent monetary easingand downgrades by multiple agencies, and a firm dollar as compared to rupee and theaggravated US-Iran war-like conditions, are some of the factors which have led to thecommodity markets lacklustre performance.
In the last month of FY 2020, the COVID-19 pandemic developed rapidly into a global crisis,forcing governments to enforce lock-downs of all economic activity.Despite the lockdown, a protracted return to normalcy was seen by August 2020. Theunprecedented scale and scope of policy responses will undoubtedly help to limit the extent ofthe collapse and will help the post-crisis recovery.
Recently, SEBI has taken various steps to boost commodity derivative market. In a majordecision to strengthen commodity market, SEBI permitted mutual funds to participate incommodity futures along with PMS. It enabled mutual funds and portfolio managers toparticipate in the agri and non-agri commodity derivatives segments (CDS). Earlier, AlternativeInvestment Funds (AIFs) were allowed to trade in commodities futures. Notablepoliciesinitiatives have been allowing commodity options, allowing foreign entities to hedge theirexposure on commodity in Indian commodity exchanges and allowing introduction ofcommodity indices trade.
Other than the response to the Covid-19 pandemic, major factors to impact Indian commoditymarkets in the coming year include resurrection in consumption demand, growth led by policyreforms, move towards digitization and monetary stance of central banks of major economies,and economic and trade policies. Coupled with strong demographic dividend and economicgrowth, consumer demand conditions in the country will remain strong for a long period.Additionally, stable fiscal situation, moderate inflation rate, exports growth, rising FDI inflowspoint towards fundamental stability in the economy, which augurs well for the markets
KEY FINANCIALS OF INDIAN COMMODITY EXCHANGE LIMITED (In Rs. Crores)
Particulars | 2020 | 2019 | 2018 | 2017 |
Revenue from Operations | 3.23 | 1.90 | 3.46 | 1.30 |
EBITDA | -42.67 | -35.08 | -22.84 | -17.31 |
Finance Cost | 0.06 | 0.00 | 0.00 | 0.01 |
Depreciation | 4.44 | 3.95 | 2.93 | 0.55 |
Other Income | 4.84 | 10.47 | 12.86 | 3.01 |
Profit Before Tax | -42.32 | -28.57 | -12.90 | -14.86 |
Total Tax | 0.00 | 0.00 | 0.53 | 0.00 |
Profit/Loss After Tax (PAT) | -42.32 | -28.57 | -13.43 | -14.86 |
EPS (Rs.) | -0.79 | -0.54 | -0.25 | -0.58 |
BALANCE SHEET OF INDIAN COMMODITY EXCHANGE LIMITED (In Rs. Crores)
Particulars | 2020 | 2019 |
ASSETS | ||
NON CURRENT ASSETS | ||
Property, Plant and Equipment | 7.93 | 9.84 |
Intangible assets | 52.17 | 53.09 |
Other non current assets | 45.77 | 42.15 |
TOTAL NON CURRENT ASSETS | 105.87 | 105.07 |
CURRENT ASSETS | ||
Trade receivables | 1.78 | 1.59 |
Cash and cash equivalent | 34.22 | 26.48 |
Financial assets | 17.96 | 65.66 |
Other current assets | 20.36 | 16.57 |
TOTAL CURRENT ASSETS | 74.32 | 110.29 |
TOTAL ASSETS | 180.19 | 215.37 |
EQUITY AND LIABILITIES | ||
EQUITY | ||
Equity Share Capital | 266.75 | 266.75 |
Other Equity | -137.23 | -94.93 |
TOTAL EQUITY | 129.53 | 171.82 |
SETTLEMENT GUARANTEE FUND | 32.68 | 29.10 |
LIABILITIES | ||
NON CURRENT LIABILITIES | ||
Long term provisions | 1.04 | 0.56 |
Other Financial liabilities | 5.27 | 3.98 |
TOTAL NON CURRENT LIABILITIES | 6.30 | 4.54 |
CURRENT LIABILITIES | ||
Trade payables | 0.27 | 0.20 |
Other current liabilities | 3.23 | 3.44 |
Short term provisions | 5.67 | 3.25 |
Other Financial liabilities | 2.52 | 3.01 |
TOTAL CURRENT LIABILITIES | 11.68 | 9.90 |
TOTAL LIABILITIES | 17.99 | 14.44 |
TOTAL EQUITY AND LIABILITIES | 180.19 | 215.37 |
DIVIDEND HISTORY
Particulars | 2020 | 2019 | 2018 |
Dividend (final + interim) (In Rs.) | Nil | Nil | Nil |
Retained Earnings (Consolidated) (In Rs. Crores) | -204.89 | -162.57 | -134.00 |
PERFORMANCE OF THE COMPANY
Revenue from operations of the Exchange increased by 70% from Rs. 1.90 Crore in FY 2019 to Rs. 3.23 Crore in FY 2020.
EBITDA of the exchange fell significantly. It declined from a loss of Rs. 35.08 Crore in FY 2019 to a loss of Rs. 42.67 Crore in FY 2020.
Net loss of the Exchange increased from Rs. 28.57 Crore in FY 2019 to Rs. 42.32 Crore in FY 2020.
The Average Daily Turnover at Exchange improved from Rs. 93.62 Crore in FY 2019 to Rs. 156.41 Crore in FY 2020 with a total of 7098 clients traded on the Exchange.
The Total Turnover of commodity futures traded on the Exchange in FY 2020 reached Rs. 40,511.32 Crore, as against Rs. 24,060.95 Crore in FY 2019. The total volume in FY 2020 was 7,89,08,656 lotsas compared to 5,55,00,358 lots in FY 2019.
Current Ratio of the company as of 31st March 2020 was 6.36.
The company does not have any long term or short term borrowings.
Indian Commodity Exchange Limited has not given any dividend for the past three years.
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