Indian Energy Exchange Ltd

Indian Energy Exchange is engaged in a Power Exchange, licenses by the Central Electricity Regulatory Commission (CERC) for spot trading in power / electricity and trading of Renewal Energy Certificate (REC) and Ecerts.

Pros:
Company is virtually debt free.
Company has a good return on equity (ROE) track record: 3 Years ROE 46.49%
Company has been maintaining a healthy dividend payout of 55.33%
Cons:
Stock is trading at 10.28 times its book value
The company has delivered a poor growth of 11.02% over past five years.

Peer Comparison Sector: Finance // Industry: Finance & Investments

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Quarterly Results Figures in Rs. Crores

Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019
51 50 51 55 56 65 55 67 67 64 56 61
14 13 16 12 9 12 12 12 12 15 12 11
Operating Profit 36 37 35 42 47 53 44 54 55 49 45 49
OPM % 72% 75% 69% 77% 83% 81% 79% 81% 82% 77% 79% 82%
Other Income 11 8 8 7 5 5 8 7 8 13 11 9
Interest 0 0 0 0 0 0 0 0 0 0 1 1
Depreciation 1 1 1 1 3 3 3 3 3 3 3 3
Profit before tax 47 44 42 48 49 55 48 59 60 59 53 55
Tax % 35% 35% 35% 35% 33% 34% 35% 29% 29% 28% 29% 28%
Net Profit 30 29 27 31 33 36 31 42 43 43 38 40
EPS in Rs 1.20 1.04 1.39 1.41 1.41 1.25 1.33
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 TTM
138 174 176 200 232 256 293 248
34 38 41 50 55 46 51 50
Operating Profit 104 136 136 150 177 210 242 198
OPM % 75% 78% 77% 75% 76% 82% 83% 80%
Other Income -6 0 0 0 1 1 1 42
Interest 0 0 0 0 0 0 1 1
Depreciation 6 3 3 3 3 10 10 11
Profit before tax 93 133 132 147 174 200 232 227
Tax % 29% 31% 32% 32% 35% 34% 29%
Net Profit 66 92 90 100 114 132 165 163
EPS in Rs 4.22 5.47 5.40
Dividend Payout % 8% 9% 88% 55% 113% 50% 2%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:%
5 Years:11.02%
3 Years:13.64%
TTM:2.04%
Compounded Profit Growth
10 Years:%
5 Years:13.01%
3 Years:18.05%
TTM:14.44%
Return on Equity
10 Years:%
5 Years:42.67%
3 Years:46.49%
Last Year:50.47%

Balance Sheet Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
30 30 30 30 30 30 30
Reserves 141 223 210 241 248 254 340
Borrowings 0 3 0 0 0 0 0
114 116 169 156 278 291 337
Total Liabilities 283 369 406 425 555 575 707
12 10 14 11 8 119 111
CWIP 0 0 0 0 1 1 1
Investments 189 247 254 281 383 268 475
82 112 138 133 163 187 120
Total Assets 283 369 406 425 555 575 707

Cash Flows Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
76 76 92 89 206 131 138
-69 -90 24 -23 -21 -33 -62
-7 -8 -106 -70 -109 -126 -78
Net Cash Flow -0 -22 10 -4 76 -29 -2

Ratios Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROCE % 61% 48% 58% 63% 71% 71%
Debtor Days 1 1 1 1 0 0 57
Inventory Turnover