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  3. Fusion Techstack (ICEX)

Fusion Techstack (ICEX) Unlisted Share Price Today

ISIN INE678L01012.

Fusion Techstack (formerly Indian Commodity Exchange Limited – ICEX) is an Indian financial technology and market infrastructure company, originally established as a SEBI-regulated commodity derivatives exchange providing an electronic platform for commodity trading across India. The exchange historically facilitated trading in various commodities including diamonds, steel, and agricultural products, and introduced the world’s first diamond futures contract, demonstrating its focus on innovat…

Fusion Techstack (ICEX)

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Fusion Techstack (ICEX)

Fusion Techstack (ICEX) Unlisted Share Price Today

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SectorFinancial Services
ISININE678L01012
Depository
Market Cap₹232.08 Cr
P/E Ratio87
ROE (%)2.29
Revenue₹0.01 Cr
Book Value1.31
Debt to EquityN/A
Face Value5
52W High₹5243
52W Low₹2.15
Market Cap₹232.08 Cr
P/E Ratio87
ROE (%)2.29
Revenue₹0.01 Cr
Book Value1.31
Debt to EquityN/A
52W High/Low₹5243 / ₹2.15
Face Value5
As of FY25

About the company & Industry

About Company

Fusion Techstack (formerly Indian Commodity Exchange ICEX) is an Indian financial technology and market infrastructure company, originally established as a SEBI-regulated commodity derivatives exchange providing an electronic platform for commodity trading across India. The exchange historically facilitated trading in various commodities including diamonds, steel, and agricultural products, and introduced the world’s first diamond futures contract, demonstrating its focus on innovation in financial market infrastructure.

Following its strategic restructuring, the company has exited the commodity exchange business and repositioned itself toward technology, data services, and digital financial infrastructure solutions. Its new strategic direction focuses on delivering technology-enabled platforms, data management services, and digital solutions for capital markets, including areas such as investor servicing, compliance solutions, analytics, and financial market technology platforms.

Incorporated in 2008 and headquartered in Surat, Gujarat, India, the company is currently in a transition phase, aiming to leverage its technology capabilities and financial market expertise to build scalable digital infrastructure and data-driven services for the broader financial services ecosystem.

About Company

Fusion Techstack (formerly Indian Commodity Exchange ICEX) is an Indian financial technology and market infrastructure company, originally established as a SEBI-regulated commodity derivatives exchange providing an electronic platform for commodity trading across India. The exchange historically facilitated trading in various commodities including diamonds, steel, and agricultural products, and introduced the world’s first diamond futures contract, demonstrating its focus on innovation in financial market infrastructure.

Following its strategic restructuring, the company has exited the commodity exchange business and repositioned itself toward technology, data services, and digital financial infrastructure solutions. Its new strategic direction focuses on delivering technology-enabled platforms, data management services, and digital solutions for capital markets, including areas such as investor servicing, compliance solutions, analytics, and financial market technology platforms.

Incorporated in 2008 and headquartered in Surat, Gujarat, India, the company is currently in a transition phase, aiming to leverage its technology capabilities and financial market expertise to build scalable digital infrastructure and data-driven services for the broader financial services ecosystem.

Financials

Revenue Contraction

Total revenue declined 35.91% YoY, reflecting the absence of operating business.

Healthy Margins Maintained

EBITDA margin at 28.30% indicates a relatively low cost base despite lower revenue.

No Operating Revenue

FY25 profitability is driven mainly by other income during the transition phase.

Income Statement

Revenue(Figures in Cr.)

Revenue Contraction

Total revenue declined 35.91% YoY, reflecting the absence of operating business.

Healthy Margins Maintained

EBITDA margin at 28.30% indicates a relatively low cost base despite lower revenue.

No Operating Revenue

FY25 profitability is driven mainly by other income during the transition phase.

Income Statement

Revenue(Figures in Cr.)

Competitive Position

Market Share

P/E Ratio

Financial Ratio Comparison (FY25)

Particulars
Fusion Techstack (ICEX)
CAMS
Revenue (₹ Cr)0.001422.48
Revenue Growth (%)0.0025.16
EBITDA Margin (%)28.3147.78
Net Profit Margin (%)17.9131.50
ROE (%)2.2945.68
Debt to Equity0.000.00
Asset Turnover Ratio (x)0.070.97
ROCE (%)1.59-
ROA (%)1.40-
Operating Leverage Ratio (x)0.180.42
Capital Intensity Ratio (x)12.721.08

Market Share

P/E Ratio

Financial Ratio Comparison (FY25)

Particulars
Fusion Techstack (ICEX)
CAMS
Revenue (₹ Cr)0.001422.48
Revenue Growth (%)0.0025.16
EBITDA Margin (%)28.3147.78
Net Profit Margin (%)17.9131.50
ROE (%)2.2945.68
Debt to Equity0.000.00
Asset Turnover Ratio (x)0.070.97
ROCE (%)1.59-
ROA (%)1.40-
Operating Leverage Ratio (x)0.180.42
Capital Intensity Ratio (x)12.721.08

Management

Shareholding PatternAs of FY26
Promoters
25.57%
Others
74.43%

Key Managerial Personnel

As of FY26
NameDesignation and Experience
Mr. Sushil Kumar Agarwal
Director
Mr. Tridib Swain
Chief Executive Officer

Shareholding PatternAs of FY26
Promoters
25.57%
Others
74.43%

Key Managerial Personnel

As of FY26
NameDesignation and Experience
Mr. Sushil Kumar Agarwal
Director
Mr. Tridib Swain
Chief Executive Officer
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DECLARATION OF RISKTERMS OF USEPRIVACY POLICY
reported revenue of ₹0.01 Cr in FYFY25. PAT was ₹2.92 Cr. See full financials on this page.

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