Company Overview : Registered in 2018 and headquartered in Mumbai, Indian Commodity Exchange Limited is an online Commodity Derivative Exchange regulated by the Securities Exchange Board of India. It is the first exchange in India to use a global hi-tech platform that ensures a seamless and automatic switch-over to a Disaster Recovery site from its Data Center with zero data loss. The exchange provides a nationwide trading platform through its appointed brokers and has 14 different commodity derivatives contracts available for trading on its platform such as diamonds, paddy basmati, and so on.
Announcement and News
SEBI Withdraws ICEX recognition Jan 02, 2025
On January 2, 2025, SEBI officially withdrew the recognition of the Indian Commodity Exchange (ICEX), allowing it to exit as a stock exchange. This decision follows years of financial struggles and compliance failures.
Reasons for ICEX Exit
- Non-Compliance with Net Worth Rules: ICEX failed to meet SEBI’s minimum net worth requirement, leading to regulatory concerns.
- Fundraising Challenges: SEBI’s 5% cap on single-shareholder stakes made it difficult for ICEX to attract new investors.
- Unmet Conditions: Despite an opportunity from the Securities Appellate Tribunal (SAT) in 2022, ICEX could not raise requisite funds or meet compliance norms.
- Shareholders’ Approval: In May 2023, shareholders approved a resolution to voluntarily surrender ICEX’s recognition.
Financial Data (IN CR.)
| YEAR |
2024 |
2023 |
2022 |
| NET SALES |
0 |
0.2 |
1.2 |
| TOTAL INCOME |
9.6 |
1.8 |
2.1 |
| NET PROFIT |
2.9 |
-58.6 |
-21.7 |
| SHAREHOLDERS FUND |
26.3 |
23.4 |
82.3 |
| TOTAL ASSETS |
78.8 |
84.8 |
144.7 |
| EPS |
0.05 |
-1.1 |
-0.41 |
Profit and Loss (IN CR.)
|
Mar 2022 |
Mar 2023 |
Mar 2024 |
| Revenue |
1.2 |
0.24 |
0.01 |
| Cost Of Material Consumed |
11 |
1.7 |
0.01 |
| Gross Margin |
-816.67 |
-608.33 |
-66.67 |
| OPM |
-1591.67 |
-20608.33 |
-95066.67 |
| Other Income |
0.8 |
1.5 |
9.6 |
| Other Expenses |
4 |
45 |
2.2 |
| Depreciation & Amortization |
4 |
10 |
0.9 |
| Profit before tax |
-22 |
-58 |
3 |
| Net Profit Margin |
-1833.33 |
-24291.67 |
50000 |
| EPS in Rs |
-0.41 |
-1.09 |
0.07 |
| Finance Cost |
0 |
0 |
0.07 |
Balance Sheet (IN Cr.)
|
Mar 2022 |
Mar 2023 |
Mar 2024 |
| Share Capital |
266.75 |
266.7 |
226.7 |
| Reserves |
-184 |
-243.3 |
-240 |
| Borrowings |
0 |
0 |
0 |
| Other Liabilities |
48.65 |
48.6 |
91.8 |
| Total Liabilities |
145 |
85 |
79 |
| Fixed Assets |
55 |
2.2 |
2.3 |
| CWIP |
0 |
0 |
0 |
| Investments |
14 |
22 |
15 |
| Other Assets |
75 |
60.8 |
61.7 |
| Total Assets |
145 |
85 |
79 |
Shareholding Pattern
|
Mar 2022 |
Mar 2023 |
Mar 2024 |
| Reliance Exchangenext Limited |
16.33% |
16.33% |
16.33% |
| Central Warehousing Corporaion |
11.05% |
11.05% |
11.05% |
| Deputy Director (PMLA) |
9.04% |
9.04% |
9.04% |
| MMTC Limited |
6.00% |
6.00% |
6.00% |
| Others |
54.11% |
57.58% |
57.58% |
