Indian Energy Exchange Ltd

Indian Energy Ex Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Indian Energy Exchange Ltd

₹ 125 -0.68%
30 Apr - close price
iexindia.com BSE: 540750 NSE: IEX
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

Premier Energy Exchange
The company is India’s premier electricity exchange with an 85% market share as of 9MFY25, offering a nationwide, automated trading platform for the physical delivery of electricity, renewable power, renewable energy certificates, and energy-saving certificates. The exchange platform improves price discovery, market accessibility, and trade efficiency in India's power sector.[1] [2]

Website BSE NSE
  • Market Cap ₹ 11,163 Cr.
  • Current Price ₹ 125
  • High / Low ₹ 215 / 114
  • Stock P/E 22.6
  • Book Value ₹ 15.3
  • Dividend Yield 2.80 %
  • ROCE 51.4 %
  • ROE 39.4 %
  • Face Value ₹ 1.00
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Pros

  • Company is almost debt free.
  • Company has delivered good profit growth of 19.6% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 39.4%
  • Company has been maintaining a healthy dividend payout of 63.0%

Cons

  • Stock is trading at 8.18 times its book value
  • Working capital days have increased from -149 days to 539 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

Financial Services Financial Services Capital Markets Exchange and Data Platform

Part of BSE 500 Nifty 500 BSE Financial Services BSE SmallCap Select Index BSE 250 SmallCap Index

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
107 104 109 115 121 124 139 132 142 142 154 146 174
14 22 17 17 17 24 20 19 21 26 20 24 25
Operating Profit 93 82 92 99 105 99 120 113 121 115 133 122 149
OPM % 87% 78% 85% 86% 86% 80% 86% 86% 85% 81% 87% 84% 86%
28 25 28 29 30 34 31 32 37 49 34 42 27
Interest 1 1 1 1 1 1 1 1 1 1 1 1 1
Depreciation 5 5 5 5 5 5 5 5 5 5 6 6 6
Profit before tax 116 101 114 122 129 128 145 139 152 158 161 157 169
Tax % 24% 25% 24% 25% 25% 25% 25% 23% 23% 24% 23% 24% 23%
88 76 86 92 97 96 108 107 117 121 123 119 130
EPS in Rs 0.99 0.85 0.97 1.03 1.08 1.08 1.21 1.20 1.31 1.35 1.38 1.34 1.46
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
254 257 318 431 401 449 537 616
51 55 67 67 64 72 84 96
Operating Profit 203 202 251 364 336 377 454 520
OPM % 80% 79% 79% 84% 84% 84% 84% 84%
40 40 38 61 86 112 135 151
Interest 1 2 2 2 2 3 3 2
Depreciation 10 15 17 17 19 20 21 23
Profit before tax 232 226 270 405 402 466 565 646
Tax % 29% 22% 24% 24% 24% 25% 24% 24%
165 176 205 309 306 351 429 493
EPS in Rs 1.81 1.96 2.29 3.44 3.43 3.93 4.81 5.53
Dividend Payout % 0% 42% 58% 73% 29% 63% 62% 63%
Compounded Sales Growth
10 Years: %
5 Years: 14%
3 Years: 15%
TTM: 15%
Compounded Profit Growth
10 Years: %
5 Years: 20%
3 Years: 19%
TTM: 15%
Stock Price CAGR
10 Years: %
5 Years: 0%
3 Years: -7%
1 Year: -34%
Return on Equity
10 Years: %
5 Years: 40%
3 Years: 39%
Last Year: 39%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 30 30 30 90 89 89 89 89
Reserves 340 358 496 614 710 883 1,047 1,275
0 14 12 10 14 10 6 11
335 265 444 983 640 791 1,054 1,060
Total Liabilities 706 667 982 1,696 1,453 1,774 2,196 2,436
111 119 121 110 110 101 87 102
CWIP 1 4 7 5 4 4 4 0
Investments 475 509 713 1,248 1,219 1,331 1,633 1,993
118 36 141 333 121 337 472 341
Total Assets 706 667 982 1,696 1,453 1,774 2,196 2,436

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
138 126 306 762 -23 298 427 433
-62 -3 -196 -448 70 -24 -196 -231
-78 -161 -77 -136 -215 -183 -272 -272
Net Cash Flow -2 -38 33 178 -167 91 -41 -70
Free Cash Flow 135 118 285 751 -31 284 420 418
CFO/OP 98% 87% 148% 238% 21% 107% 123% 114%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 66 0 4 74 6 70 2 1
Inventory Days
Days Payable
Cash Conversion Cycle 66 0 4 74 6 70 2 1
Working Capital Days -371 -327 -402 -724 -540 -501 -485 539
ROCE % 56% 55% 61% 50% 50% 53% 51%

Insights

In beta
Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Electricity Traded Volume
Billion Units ・Standalone data

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Billion Units ・Standalone data

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Shareholding Pattern

Numbers in percentages

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
17.28% 14.12% 13.37% 10.89% 11.66% 15.66% 16.24% 16.13% 18.53% 13.20% 11.42% 14.16%
21.11% 22.61% 26.34% 27.24% 31.24% 31.48% 32.78% 34.15% 34.12% 36.43% 34.95% 30.26%
61.33% 62.98% 60.01% 61.57% 56.82% 52.59% 50.72% 49.47% 47.07% 50.11% 53.37% 55.31%
0.28% 0.28% 0.28% 0.28% 0.28% 0.28% 0.28% 0.27% 0.27% 0.27% 0.27% 0.27%
No. of Shareholders 16,32,59716,01,51815,18,59715,98,63115,13,30714,72,72714,39,96714,13,44413,88,44714,38,94314,07,54614,09,806

* 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

Announcements

Annual reports

DRHP

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