National E-Repository Limited (NeRL) Unlisted Shares
About National E-Repository Limited (NeRL) Unlisted Shares
National E-Repository Limited (NeRL), incorporated on February 10, 2017, is a pivotal institution in India’s commodities ecosystem. It facilitates digital management of Negotiable Warehouse Receipts (eNWRs), enhancing transparency, efficiency, and accessibility in commodity trading. By enabling farmers, traders, and financial institutions to transact using electronic receipts, NeRL reduces physical dependence and brings in technological innovation to streamline operations in the agri-commodities market.
Business Division
Core Offering:
NeRL functions as a commodity repository, operating a secure digital platform to issue, store, and manage eNWRs. These are legal documents proving commodity ownership, enabling farmers and traders to sell or pledge goods digitally without transporting physical inventory.
Key Functions:
- Issuance & Conversion: Physical warehouse receipts are converted into eNWRs through WDRA-registered warehouses.
- Trading & Settlement: Facilitates online commodity trading on platforms like NCDEX with seamless ownership transfer.
- Pledging: Allows users to obtain loans by pledging eNWRs as collateral with partner banks.
Financial Performance Summary (in 7 Points – Pwrite Format)
- Revenue grew from ₹7 Cr in FY23 to ₹9 Cr in FY24, but still lower than ₹10 Cr in FY22.
- EBITDA remained negative in FY24 at ₹-5 Cr, reflecting high operational costs.
- Employee costs increased by ₹2 Cr YoY in FY24, indicating growing team or rising compensation.
- Depreciation dropped from ₹6 Cr in FY22 to ₹4 Cr in FY24, hinting at lower asset base.
- Net loss (PAT) stood at ₹-5 Cr in FY24, unchanged from FY23, with EPS at ₹-0.62.
- Total assets declined steadily from ₹72 Cr in FY22 to ₹62 Cr in FY24.
- Reserves remained negative, reflecting continued losses and weak retained earnings position.
Pros
- Digital Advantage: Promotes paperless trading and efficient warehousing through eNWR.
- Empowers Farmers: Enables loan access and better market timing for produce sales.
- Regulatory Support: Operates under WDRA, ensuring credibility and policy alignment.
Cons
- Continual Losses: Financials indicate consistent net losses and negative margins.
- High Dependence on Adoption: Relies on farmers, traders, and banks embracing digital solutions.
- Operational Risks: Dependency on warehouse partners and IT infrastructure can impact reliability.
Key Details
| Share Name | Particulars |
|---|---|
| NERL Unlisted | ₹50.00 |
| Shares Price | Per Equity Share |
| Lot Size | 2,000 Shares |
| 52 Week High | ₹67 |
| 52 Week Low | ₹58 |
| Depository | NSDL |
| PAN Number | AAFCN4933R |
| ISIN Number | INE878X01013 |
| CIN | U93090MH2017PLC291035 |
| RTA | Link Intime |
| Fundamentals | Value |
|---|---|
| Market Cap (in Cr.) | ₹405.00 |
| P/E Ratio | -80.65 |
| P/B Ratio | 8.06 |
| Debt to Equity | 0 |
| ROE (%) | -10% |
| Book Value | ₹6.20 |
| EPS | -₹0.62 |
| Face Value | ₹10 |
| Total Shares | 8,10,00,000 |
Financials
| P&L Statement | 2024 | 2023 | 2022 |
|---|---|---|---|
| Revenue | 9 | 7 | 10 |
| Cost of Material Consumed | 0 | 0 | 0 |
| Gross Margins (%) | 100 | 100 | 100 |
| Change in Inventory | 0 | 0 | 0 |
| Employee Benefit Expenses | 9 | 7 | 6 |
| Other Expenses | 5 | 4 | 4 |
| EBITDA | -5 | -4 | 0 |
| OPM (%) | -55.56 | -57.14 | 0 |
| Other Income | 2 | 2 | 2 |
| Finance Cost | 0 | 0 | 0 |
| D&A (Depreciation & Amort.) | 4 | 5 | 6 |
| EBIT | -9 | -9 | -6 |
| EBIT Margins (%) | -100 | -128.57 | -60 |
| PBT (Profit Before Tax) | -7 | -7 | -4 |
| PBT Margins (%) | -77.78 | -100 | -40 |
| Tax | -2 | -2 | -1 |
| PAT (Profit After Tax) | -5 | -5 | -3 |
| NPM (Net Profit Margin %) | -55.56 | -71.43 | -30 |
| EPS (Earnings Per Share) | -0.62 | -0.62 | -0.37 |
| Financial Ratios | FY24 | FY23 |
|---|---|---|
| Operating Margin | -62% | -76% |
| Net Profit Margin | -46% | -57% |
| Return on Equity | -10% | -10% |
| Debt-Equity | 0 | 0 |
| Current Ratio | 2.42 | 2.79 |
| Dividend Payout | 0% | 0% |
| Company | NERL |
|---|---|
| Market Cap (₹ Crores) | 466 |
| Profitability Margin (%) | -46% |
| ROCE (%) | -13% |
| ROE (%) | -10% |
| D/E Ratio | 0 |
| P/E Ratio | -92.74 |
| P/B Ratio | 9.27 |
| Book Value per Share (₹) | ₹6.20 |
| Assets | 2024 | 2023 | 2022 |
|---|---|---|---|
| Fixed Assets | 2.5 | 6.0 | 11.0 |
| CWIP | 0.4 | 0.3 | 0.0 |
| Investments | 0.0 | 0.0 | 0.0 |
| Trade Receivables | 1.8 | 1.5 | 2.0 |
| Inventory | 0.0 | 0.0 | 0.0 |
| Other Assets | 57.3 | 59.2 | 59.0 |
| Total Assets | 62.0 | 67.0 | 72.0 |
| Liabilities | 2024 | 2023 | 2022 |
|---|---|---|---|
| Share Capital | 81 | 81 | 81 |
| FV (Face Value) | 10 | 10 | 10 |
| Reserves | -31 | -26 | -20 |
| Borrowings | 0 | 0 | 0 |
| Trade Payables | 0.54 | 0.60 | 0.60 |
| Other Liabilities | 11.46 | 11.40 | 10.40 |
| Total Liabilities | 62.0 | 67.0 | 72.0 |
