Notes on commodity exposure, P&L and risk

8 Sept 2026 · Ravi Chandra

23 years of TransGraph: what we are building TransRisk to be

TransGraph turns 23 this month, and TransRisk has been part of that journey since 2008. An anniversary is a reasonable moment to say plainly what we are building, and why.

Start with the problem our clients actually have. Exposure sits in the ERP. Hedges sit with treasury or a broker. Contracted volumes sit with procurement. Inventory costs and yields sit with operations. Each team holds a piece, each piece is current, and no one holds the whole. So the question that gates every commercial decision — given where we already stand, can we act on this view, and by how much? — takes two days and three spreadsheets to answer, by which time the market has moved.

TransRisk exists to answer that question in one place, every morning: exposure, hedges, margin and mark-to-market from a single dataset, visible to procurement, treasury, finance, risk and leadership at the same time.

Three things have to work together for that answer to be worth anything. Human judgement, because markets reward relevance, not information. Machines, because no team can consolidate positions across systems fast enough by hand. And governance, because a number nobody can audit is a number nobody will act on. Take away any one and the other two stop mattering.

This is why the spread of AI has not distracted our direction. Information is getting cheaper and faster for everyone, ours and our competitors' alike. What is not getting cheaper is the judgement to read a market correctly and the discipline to stand behind a number. AI makes analysts faster. It does not make a recommendation defensible.

Which brings us to the thing we care most about. Every number TransRisk produces can be opened up — traced back to the data, the position and the method that produced it. Nothing is asserted that cannot be shown. We build it that way because transparency is what earns trust, and trust is what a client is really relying on when they take a position on our work.

That has been true for 23 years. It is what we are still building for.

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2 Sept 2026 · Moksh Jain

Procurement is no longer just managing supply

TransGraph was at the India Procurement Summit & Awards in Mumbai on 2 September, organised by Synnex Group and filled largely with chief procurement officers and procurement leads. Much of the programme looked at digital transformation, AI alongside human judgement, and vendor management.

Mr. Nagaraj Meda, Chairman & Managing Director of TransGraph Consulting, spoke on driving procurement savings through proactive pricing, risk management and benchmarking. All three start from the same shift: a buying team held to landed cost and margin already owns price exposure, whether or not anyone in the organisation calls it that.

Proactive pricing means separating two decisions that usually travel together — where to buy, and when to price. They are different questions, often with different owners. It also means knowing the open position before negotiating, and hedging against a stated policy with defined limits rather than against a view.

Benchmarking is what makes a saving arguable. A price is only good or bad relative to the market over the period it covers; measured against last year's number, a poor buy in a falling market still reads as a win.

Three things we would avoid. Measuring procurement on purchase price alone, which quietly rewards timing bets. Treating a favourable print as a success without reference to the policy. And letting a long supply contract stand in for a price view it was never written to express.

That measurement is where TransRisk sits — consolidating physical and financial positions, monitoring exposure by commodity, location, counterparty group and period, and decomposing the result into Open MtM, Margin P&L, Closed P&L and Realised P&L.

Our thanks to the organisers, and to everyone who stopped to talk.

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13 Aug 2026 · Ravi Chandra Nutakki

TransRisk at Global Commodity Conclave 2026

TransRisk was showcased at the Global Commodity Conclave 2026, where our team presented the platform’s end-to-end commodity risk management capabilities to risk, procurement and finance professionals.

The discussion focused on a common challenge for commodity-intensive organisations: exposure, procurement, inventory, pricing and hedge information often sits across disconnected systems and spreadsheets. This limits visibility, increases manual effort and can delay critical commercial decisions.

TransRisk helps organisations bring these processes together through a unified platform for commodity exposure management, hedging and reporting. The platform supports teams in consolidating physical and financial positions, monitoring market exposure and strengthening risk governance across the business.

Key capabilities include: * Visibility of physical and financial commodity positions * Exposure monitoring by commodity, location, counterparty group and period * Hedge planning, coverage analysis and hedge-effectiveness tracking * Mark-to-market valuation and realised/unrealised P&L analysis * Role-based dashboards and reporting for procurement, treasury, finance, risk and leadership

A key takeaway from the conclave was that commodity risk management is increasingly a cross-functional responsibility. Procurement, trading, supply chain, finance, treasury and leadership teams need a common, reliable view of risk to make timely and informed decisions.

As market volatility and supply-chain uncertainty continue to affect commodity-intensive businesses, organisations need stronger tools to identify exposure early, assess potential financial impact and act within defined risk policies.

TransRisk enables this transition—from fragmented data and reactive reporting to connected risk intelligence, disciplined hedging and decision-ready insights. We thank the organisers of the Global Commodity Conclave 2026 and all the industry professionals who engaged with us during the event.

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28 Jan 2026 · Moksh Jain

TransGraph at India Energy Week 2026

TransGraph was at the fourth edition of India Energy Week in Goa on 28 January, one day of a programme running from the 27th to the 30th under the patronage of the Ministry of Petroleum and Natural Gas, organised by the Federation of Indian Petroleum Industry with dmg events.

One question kept returning in the conversations we had: how does an energy or petrochemical business hold a steady view of its position when prices will not sit still? Volatility has stopped being an event that interrupts the plan and become the condition the plan has to survive.

For most teams that is a data problem before it is a hedging problem. Exposure, procurement, inventory, pricing and hedge information sit in separate systems, reconciled by hand and late, so the argument becomes whose number is right rather than what to do about it.

Three things came up often enough to record. Risk is cross-commodity: crude moves feedstock, feedstock moves polymer, freight and power move landed cost, so a position view assembled one commodity at a time will miss it. A hedge policy has to be evidenced — most teams had one, but fewer could show current coverage against it, which limits sat close to breach, or whether past hedges had worked. And the P&L has to decompose, because Open MtM, Margin P&L, Closed P&L and Realised P&L are what separate a result from its explanation.

That is the ground TransRisk covers, and Energy & Petrochemicals is one of the eight industries it is configured for. Our thanks to the organisers, and to everyone who stopped to talk.

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