India’s largest private-sector agriculture post-harvest management company, erstwhile National Collateral Management Services Ltd (NCML), has announced a name change to National Commodities Management Services Limited, effective immediately. The new name reflects the company’s emphasis on providing commodity services along the comprehensive agriculture lifecycle from farm to plate.
This transformation is triggered by various steps taken by NCML to expand its presence in new agriculture frontiers, including pre-harvest services like crop tracking, weather data, yield guidance etc. to commodity warehousing, an electronic platform for buy-sell, testing, supply chain and trucking. The renaming perfectly illustrates that the company has grown beyond the business of collateral management services.
Siraj Chaudhry, MD & CEO, NCML, said the new name National Commodities Management Services Limited shows the company as a trusted solution provider for stakeholders in the value chain of “agriculture-to-food” through services; fostering innovation and efficiency. “Our work with our customers and stakeholders remains our highest priority, and this renaming further renews our commitment to become a strong strategic partner for them,” he explained.
From a branding perspective, Chaudhry said it might appear as a small change from Collateral to Commodities, but in the life of the business the company’s presence in the overall agricultural industry, it is a giant leap.
Unupom Kausik, President, NCML said that with the vision NCML 2.0, the company would be providing end-to-end solutions to families, adhatiyas and processors through a solution-based architecture. “The rationale behind the name change is the brand’s growth beyond collateral management and capture the essence of what we do, day-in and day-out. Therefore, the need was felt to embrace a brand identity that could portray the company’s image and a broad spectrum of services to its stakeholders.”
It’s to be noted that the NCML logo remains unchanged. The renaming will not affect or delay any current or future work commitments. No other aspects of the company structure, such as shareholding, management, website, email addresses etc., will change. There are no material changes in the company’s operations.
NCML currently has about 2.0 million metric tons of storage capacity across 750 warehouses in 16 states in India. It has a network of 22 regional offices, more than 800 touch points at agricultural produce markets and thousands of farmers and traders to facilitate procurement of commodities.
With an AUM of $555.1 million, NCML offers custodial services to about 65 banks and financial institutions for the management of collateralized agricultural commodities, based on which those institutions advance post-harvest loans to farmers or dealers owning commodities.