Indian Energy Exchange Ltd

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Indian Energy Exchange is a Power Exchange, licensed by the Central Electricity Regulatory Commission (CERC) for spot trading in power / electricity and trading of Renewal Energy Certificate (REC) and Energy Saving Certificates (ESCerts). The main activity of the company is to provide an automated platform and infrastructure for carrying out trading in electricity units for physical delivery of electricity.(Source : 202003-01 Annual Report Page No:139)

  • Market Cap 8,787 Cr.
  • Current Price 293
  • High / Low 323 / 111
  • Stock P/E 44.6
  • Book Value 16.0
  • Dividend Yield 0.85 %
  • ROCE 57.0 %
  • ROE 45.0 %
  • Face Value 1.00

Pros

  • Company is almost debt free.
  • Company has a good return on equity (ROE) track record: 3 Years ROE 45.57%

Cons

  • Stock is trading at 18.29 times its book value
  • The company has delivered a poor sales growth of 7.85% over past five years.

Peer comparison

Sector: Miscellaneous Industry: Miscellaneous

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
55 67 67 64 56 61 67 60 69 66 71 85
12 12 12 15 12 11 14 12 15 17 13 13
Operating Profit 44 54 55 49 45 49 53 48 54 49 58 72
OPM % 79% 81% 82% 77% 79% 82% 79% 80% 78% 74% 81% 85%
Other Income 8 7 8 13 11 9 11 10 10 14 9 11
Interest 0 0 0 0 1 1 1 0 1 1 1 1
Depreciation 3 3 3 3 3 3 3 4 5 4 4 4
Profit before tax 48 59 60 59 53 55 61 53 59 58 62 78
Tax % 35% 29% 29% 28% 29% 28% 20% 21% 20% 26% 24% 23%
Net Profit 31 42 43 43 38 40 49 42 47 43 47 60
EPS in Rs 1.04 1.38 1.41 1.41 1.25 1.32 1.63 1.41 1.58 1.43 1.56 2.01
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
36 60 138 174 176 170 199 230 254 257 291
15 19 34 38 41 45 55 46 51 53 59
Operating Profit 21 41 104 136 136 125 143 185 203 204 233
OPM % 59% 68% 75% 78% 77% 74% 72% 80% 80% 80% 80%
Other Income 5 11 -6 0 0 25 34 26 40 40 44
Interest 0 0 0 0 0 0 0 0 1 2 2
Depreciation 4 4 6 3 3 3 3 10 10 15 17
Profit before tax 23 48 93 133 132 147 174 200 232 228 257
Tax % 17% 29% 29% 31% 32% 32% 35% 34% 29% 22%
Net Profit 19 34 66 92 90 100 114 132 165 178 197
EPS in Rs 0.69 1.25 2.43 3.37 3.30 3.48 3.94 4.34 5.44 5.94 6.58
Dividend Payout % 14% 16% 8% 9% 88% 72% 113% 50% 0% 42%
Compounded Sales Growth
10 Years:%
5 Years:8%
3 Years:9%
TTM:19%
Compounded Profit Growth
10 Years:%
5 Years:16%
3 Years:19%
TTM:17%
Stock Price CAGR
10 Years:%
5 Years:%
3 Years:26%
1 Year:66%
Return on Equity
10 Years:%
5 Years:45%
3 Years:46%
Last Year:45%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
30 30 30 30 30 30 30 30 30 30 30
Reserves 48 75 141 223 210 168 245 249 334 352 451
Borrowings 0 0 0 3 0 0 0 0 0 14 0
95 107 114 116 169 227 280 295 342 272 308
Total Liabilities 169 208 282 369 406 424 554 574 706 668 788
14 22 12 10 14 11 8 119 111 119 114
CWIP 2 0 0 0 0 0 1 1 1 1 1
Investments 104 125 189 247 254 281 383 268 475 514 624
48 60 81 111 137 131 162 186 118 35 50
Total Assets 169 208 282 369 406 424 554 574 706 668 788

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
52 30 76 76 92 89 206 131 138 128
-54 -20 -69 -90 24 -23 -21 -33 -62 -5
34 -0 -7 -8 -106 -70 -109 -126 -78 -161
Net Cash Flow 32 10 -0 -22 10 -4 76 -29 -2 -38

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 53% 72% 61% 48% 67% 64% 67% 67% 57%
Debtor Days 7 1 1 1 1 2 0 0 66 0
Inventory Turnover

Shareholding Pattern

Numbers in percentages

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
7.32 9.91 13.04 15.36 17.61 19.57 26.48 30.53 31.99 31.25 30.23 29.62
35.90 34.18 33.67 34.32 34.94 33.68 29.24 29.70 31.27 33.77 35.06 36.62
56.22 55.36 52.77 49.84 47.00 46.29 43.84 39.33 36.33 34.59 34.32 33.39
0.56 0.56 0.52 0.49 0.45 0.46 0.44 0.44 0.41 0.39 0.39 0.37

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