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National E-Repository Limited (NeRL) Unlisted Shares

181.7K

BUY

₹ 49.00

SELL

₹ 53.00

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As on May 30, 2026, we are buying shares of the NATIONAL E-REPOSITORY LIMITED for ₹ 49.00 and selling them for ₹ 53.00 per share.

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

INE878X01013

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Promoters or Management

Annual Reports

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Frequently Asked Questions

NeRL generates revenue primarily through fees for eNWR-related services, including issuance, transfer, and pledging. Additional income is derived from value-added services and partnerships with financial institutions.

NeRL faces several potential risks that could impact its operations and growth. Regulatory changes, such as shifts in government policies or legal frameworks governing commodity markets and repositories, may pose challenges to its business environment. As a digital platform, NeRL is also exposed to technological risks and must invest consistently in cybersecurity measures and system upgrades to protect against data breaches or technical failures. Furthermore, the platform’s success heavily depends on the adoption and engagement of stakeholders; resistance to transitioning from traditional to digital methods could slow its market penetration. Operationally, NeRL relies on third-party service providers like warehouse operators, making it crucial to establish and maintain strong partnerships to ensure quality and reliability in service delivery.

Fees for eNWR-related services like as issuance, transfer, and pledging are the main source of income for NeRL. Partnerships with financial institutions and value-added services provide additional revenue.

As of March 2024, NCDEX owns a 67.22% stake in NERL, NABARD owns 13% stake in NERL, ICICI bank owns a 9.9% stake and State bank of India owns 9.88% in NERL.