{"id":26637,"date":"2025-01-18T00:00:00","date_gmt":"2025-01-17T20:00:00","guid":{"rendered":"https:\/\/tester-hub.com\/stockifyfintech\/blog\/national-e-repository-limiteds-business-model-explained\/"},"modified":"2025-02-03T15:07:53","modified_gmt":"2025-02-03T11:07:53","slug":"national-e-repository-limiteds-business-model-explained","status":"publish","type":"post","link":"https:\/\/tester-hub.com\/stockifyfintech\/blog\/national-e-repository-limiteds-business-model-explained\/","title":{"rendered":"Nerl Business Model Explained"},"content":{"rendered":"\n<p>National Commodity &amp; Derivatives Exchange Limited (NCDEX), the largest Agri Commodity Derivatives Exchange, has incorporated an institution and a market intermediary, National E-Repository Limited(NERL).<\/p>\n\n\n\n<p>NERL started its operations on September 26, 2017, and is regulated by the Warehousing Development and Regulatory Authority (WDRA) as a Repository and Platform for the Creation and Management of Electronic Negotiable Warehouse Receipts (eNWRs).<\/p>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-business-model-of-nerl\">Business Model of NERL<\/h2>\n\n\n\n<p>A) NERL&#8217;s main business is offering a digital platform for creating and managing eNWRs issued in warehouses registered with the WDRA.<\/p>\n\n\n\n<p>B) In India, EWRs (specifically called &#8220;Electronic Negotiable Warehouse Receipts&#8221; or eNWRs) are mandatory for all registered warehouses.<\/p>\n\n\n\n<p>C) Effective from 1st August 2019, the Warehousing Development and Regulatory Authority (WDRA) guidelines require the issue of warehouse receipts electronically.<\/p>\n\n\n\n<p>D) With coverage across 15+ states &amp; 11k+ clients, NeRL has a market leadership in terms of warehouses and issuance of eNWRs and highly prominent and reputable key shareholders. Thus signaling huge growth potential.<\/p>\n\n\n\n<p>The Company does not have any Subsidiary, Joint Venture, or Associate Company.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-are-the-benefits-of-e-warehouse-receipts\">What are the benefits of E Warehouse Receipts?<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Centralized online recordkeeping.<\/li>\n\n\n\n<li>Connectivity to commodity exchanges.<\/li>\n\n\n\n<li>Fiduciary trust is regulated by the WDRA Act.<\/li>\n\n\n\n<li>Access to Institutional Finance with Lower Interest Rates.<\/li>\n\n\n\n<li>No additional cost for collateral monitoring and surveillance.<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-key-stake-holders-in-nerl\">Key Stake Holders In NeRL<\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/tester-hub.com\/stockifyfintech\/wp-content\/uploads\/2025\/02\/Screenshot-2025-01-16-112930.png\" alt=\"\" class=\"wp-image-26315\" \/><\/figure>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-nerl-s-achievements-and-growth-potential\">NeRL&#8217;s Achievements And Growth Potential<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>NERL has more than 9,980 active customers (over 2,000 customers added in FY 2023-24), 76 pledgee Banks\/ NBFCs, 3 CM Pledgees, 1096 unique Warehouses issuing eNWR\/eNNWR, and 99 Repository Participants (&#8216;RPs&#8217;) across 17 states and 1 UT in India.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>NERL has issued more than 5.5 lakh eNWRs (Exchange + Emerging Business) for commodities over 59.70 Lakhs MT (Exchange + Emerging Business) deposited in registered warehouses of WDRA.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>A new milestone was achieved in FY 2023-24 as Banks crossed Rs. 7,000 Crores finance against eNWR since inception, a clear indication of the growing confidence of banks in eNWR.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Soon, all warehouse storage will be required to use eWR, which will significantly benefit NeRL as the market expands.<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-nerl-s-comparision-with-competitor-ccrl\">NeRL&#8217;s Comparision With Competitor CCRL<\/h2>\n\n\n\n<p>The Repository for Agricultural Commodities approved by WDRA is currently a duopoly in the Indian ecosystem comprising of:<\/p>\n\n\n\n<p>A) NERL &#8211; Backed by NCDEX.<\/p>\n\n\n\n<p>B) CCRL &#8211; Backed by CDSL.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"https:\/\/tester-hub.com\/stockifyfintech\/wp-content\/uploads\/2025\/02\/Screenshot-2025-01-18-131132-1024x569.png\" alt=\"\" class=\"wp-image-26351\" \/><\/figure>\n\n\n\n<p>Thus NeRL holds a strong position in the commodities market due to its parent company&#8217;s expertise in the commodities exchange as compared to its rival CDSL-owned CCRL which lacks the experience and know-how of the commodities market.<\/p>\n\n\n\n<p>In comparison, NeRL can be seen as the &#8220;CDSL&#8221; or &#8220;NSDL&#8221; of the commodity market. While CDSL and NSDL are valued at Rs 35,000 crore and Rs 20,000 crore respectively, NeRL\u2019s current valuation is only around Rs 500 crore.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-the-effect-on-national-e-repository-limited-unlisted-shares\">The Effect On National E Repository Limited Unlisted Shares<\/h2>\n\n\n\n<p>With outstanding shares of 8.1 Cr. their market cap at the<strong> current share price stands at 66.67 per share with a PE multiplier of -10.7. <\/strong>Soon, all warehouse storage will be required to use eWR, which will significantly benefit NeRL as the market expands.<\/p>\n\n\n\n<p><strong>NeRL reported a revenue of ~Rs 11 crore in FY23-24.<\/strong> Given its dominant position in the commodities repository market, supported by its parent company NCDEX and its strong technology and market knowledge, it is reasonable to apply a higher revenue multiple. <\/p>\n\n\n\n<p><strong>With a multiple of 50x, NeRL\u2019s valuation could rise to approximately Rs 540 crore &#8211; with an Unlisted Share Price of Rs 66.67)<\/strong>. National E Repository&nbsp;Limited&nbsp;Pre Ipo shares are available in the unlisted market. <\/p>\n\n\n\n<p>Even after all these indicators, knowing&nbsp;<a href=\"https:\/\/stockify.net.in\/companies\/national-e-repository-limited-unlisted-shares\/\">National E Repository Limited<\/a> before buying its unlisted shares is essential.&nbsp;<\/p>\n\n\n\n<p>If you are new to investing, taking expert advice on such matters becomes crucial. You can get the best advice and updates on the latest unlisted shares in India with a simplified process of buying and selling unlisted shares in India, with the&nbsp;<a href=\"https:\/\/stockify.net.in\/contact\/\">best trading platform to buy and sell unlisted shares<\/a>: Stockify.&nbsp;<\/p>\n\n\n\n<p>Connect with our experts for more details!&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-faqs\">FAQs:<\/h3>\n\n\n\n<p>1.&nbsp;<strong>What is National E Repository Limited Unlisted Shares Price in India?&nbsp;<\/strong><\/p>\n\n\n\n<p>Ans- Currently, the Nerl unlisted share trades at Rs. 66.67 per share. You can visit Stockify to get updates about the updated share prices.&nbsp;<\/p>\n\n\n\n<p>2.&nbsp;<strong>Is it legal to buy NeRL Unlisted Shares in India?<\/strong><\/p>\n\n\n\n<p>Ans- Buying NeRL Unlisted Shares in India is legal. You can use online trading platforms like Stockify to buy and sell unlisted shares.<\/p>\n\n\n\n<p>3.&nbsp;<strong>How to check National E Repository Limited Unlisted Shares Price?&nbsp;<\/strong><\/p>\n\n\n\n<p>Ans- Stockify is the right platform to check Nerl unlisted share price. It offers the best and most updated prices for unlisted shares.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>National Commodity &amp; Derivatives Exchange Limited (NCDEX), the largest Agri Commodity Derivatives Exchange, has incorporated an institution and a market intermediary, National E-Repository Limited(NERL). NERL started its operations on September 26, 2017, and is regulated by the Warehousing Development and Regulatory Authority (WDRA) as a Repository and Platform for the Creation and Management of Electronic [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":26641,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_glsr_average":0,"_glsr_ranking":0,"_glsr_reviews":0,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-26637","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.9 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Nerl Business Model Explained - Stockify Fintech<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nerl Business Model Explained\" \/>\n<meta property=\"og:description\" content=\"National Commodity &amp; Derivatives Exchange Limited (NCDEX), the largest Agri Commodity Derivatives Exchange, has incorporated an institution and a market intermediary, National E-Repository Limited(NERL). 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