Indian Energy Exchange Ltd

Indian Energy Exchange Ltd

₹ 158 1.28%
24 May - close price
About

Incorporated in 2007, Indian Energy Exchange Ltd provides an automated platform and infrastructure for carrying out trading in electricity units for physical delivery of electricity[1]

Key Points

Business Overview[1][2]
Company is the 1st Power Exchange-licensed
by the Central Electricity Regulatory Commission (‘CERC’) for spot trading in electricity and trading of Renewal Energy Certificates (REC) and ESCerts. The exchange platform enables efficient price discovery and increases the accessibility and transparency of the power market in India while also enhancing the speed and efficiency of trade execution.

  • Market Cap 14,066 Cr.
  • Current Price 158
  • High / Low 173 / 116
  • Stock P/E 41.2
  • Book Value 10.6
  • Dividend Yield 1.58 %
  • ROCE %
  • ROE 39.4 %
  • Face Value 1.00

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has a good return on equity (ROE) track record: 3 Years ROE 41.7%
  • Company has been maintaining a healthy dividend payout of 38.6%

Cons

  • Stock is trading at 14.8 times its book value
  • Debtor days have increased from 50.5 to 70.1 days.
  • Working capital days have increased from -147 days to 202 days

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Financial Services Industry: Miscellaneous

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
95 90 109 114 112 98 95 100 107 104 109 115 121
14 14 13 16 17 17 16 17 14 22 16 15 16
Operating Profit 81 77 96 98 95 81 79 83 93 82 92 100 105
OPM % 85% 85% 88% 86% 85% 82% 83% 83% 87% 78% 85% 87% 86%
7 12 12 12 16 15 19 17 23 23 24 26 28
Interest 0 1 0 0 0 1 1 1 1 1 1 1 1
Depreciation 3 4 4 4 4 4 5 5 5 5 5 5 5
Profit before tax 84 84 103 106 107 91 92 95 110 99 111 120 127
Tax % 24% 24% 24% 25% 24% 25% 24% 25% 25% 25% 25% 25% 25%
64 64 78 80 81 69 70 71 83 74 83 89 95
EPS in Rs 0.71 0.71 0.87 0.89 0.90 0.76 0.78 0.79 0.93 0.83 0.93 1.00 1.07
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
138 174 176 170 199 230 254 257 317 426 401 449
34 38 41 45 55 46 51 53 58 60 64 71
Operating Profit 104 136 136 125 143 185 203 204 259 366 336 378
OPM % 75% 78% 77% 74% 72% 80% 80% 80% 82% 86% 84% 84%
-6 0 0 25 34 26 40 40 40 52 73 102
Interest 0 0 0 0 0 0 1 2 2 2 2 3
Depreciation 6 3 3 3 3 10 10 15 16 16 19 20
Profit before tax 93 133 132 147 174 200 232 228 282 400 389 457
Tax % 29% 31% 32% 32% 35% 34% 29% 22% 24% 24% 25% 25%
66 92 90 100 114 132 165 178 213 303 293 341
EPS in Rs 0.81 1.12 1.10 1.16 1.31 1.45 1.81 1.98 2.38 3.37 3.28 3.83
Dividend Payout % 8% 9% 88% 72% 113% 50% 0% 42% 56% 59% 30% 26%
Compounded Sales Growth
10 Years: 10%
5 Years: 12%
3 Years: 12%
TTM: 12%
Compounded Profit Growth
10 Years: 14%
5 Years: 17%
3 Years: 18%
TTM: 17%
Stock Price CAGR
10 Years: %
5 Years: 25%
3 Years: 10%
1 Year: 1%
Return on Equity
10 Years: 43%
5 Years: 43%
3 Years: 42%
Last Year: 39%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 27 27 27 29 29 30 30 30 30 90 89 89
Reserves 141 223 210 168 248 254 340 360 502 612 695 859
Preference Capital 3 3 3 2 2 0 0 0 0 0
0 3 0 0 0 0 0 14 12 10 14 10
114 116 169 227 277 291 335 264 384 983 640 791
Total Liabilities 282 369 406 424 554 574 706 668 927 1,695 1,439 1,749
12 10 14 11 8 119 111 119 115 110 112 104
CWIP 0 0 0 0 1 1 1 1 6 5 2 0
Investments 189 247 254 281 383 268 475 514 710 1,247 1,204 1,310
81 111 137 131 162 186 118 35 96 333 120 336
Total Assets 282 369 406 424 554 574 706 668 927 1,695 1,439 1,749

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
76 76 92 89 206 131 138 128 304 788 -22 300
-69 -90 24 -23 -21 -33 -62 -5 -194 -473 70 -26
-7 -8 -106 -70 -109 -126 -78 -161 -77 -136 -215 -183
Net Cash Flow -0 -22 10 -4 76 -29 -2 -38 33 179 -167 91

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 1 1 1 2 0 0 66 0 4 75 6 70
Inventory Days
Days Payable
Cash Conversion Cycle 1 1 1 2 0 0 66 0 4 75 6 70
Working Capital Days -208 -191 -335 -384 -494 -322 -371 -323 -386 -732 87 202
ROCE % 72% 61% 48% 67% 64% 66% 66% 56% 59% 62%

Shareholding Pattern

Numbers in percentages

2 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
36.66% 37.74% 31.01% 27.07% 20.77% 15.79% 15.49% 17.88% 17.28% 14.12% 13.37% 10.89%
25.47% 23.13% 17.66% 19.48% 21.65% 22.39% 21.73% 21.53% 21.11% 22.61% 26.34% 27.24%
37.53% 38.81% 51.02% 53.15% 57.29% 61.54% 62.49% 60.32% 61.33% 62.98% 60.01% 61.57%
0.33% 0.31% 0.31% 0.29% 0.29% 0.27% 0.27% 0.28% 0.28% 0.28% 0.28% 0.28%
No. of Shareholders 2,72,9404,06,21412,19,82314,73,38616,44,73417,13,91317,12,82516,30,99116,32,59716,01,51815,18,59715,98,631

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

Documents

Concalls