Capital Markets
Valuation | |
|---|---|
| Market Cap | 10.86 kCr |
| Price/Earnings (Trailing) | 22.51 |
| Price/Sales (Trailing) | 14.97 |
| EV/EBITDA | 17.11 |
| Price/Free Cashflow | 28.7 |
| MarketCap/EBT | 17.83 |
| Enterprise Value | 10.84 kCr |
Fundamentals | |
|---|---|
| Revenue (TTM) | 725.11 Cr |
| Rev. Growth (Yr) | 14% |
| Earnings (TTM) | 480.26 Cr |
| Earnings Growth (Yr) | 11% |
Profitability | |
|---|---|
| Operating Margin | 84% |
| EBT Margin | 84% |
| Return on Equity | 38.48% |
| Return on Assets | 25.52% |
| Free Cashflow Yield | 3.48% |
Growth & Returns | |
|---|---|
| Price Change 1W | -3.1% |
| Price Change 1M | -4.6% |
| Price Change 6M | -14.2% |
| Price Change 1Y | -25.4% |
| 3Y Cumulative Return | -6% |
| 5Y Cumulative Return | 3.6% |
| 7Y Cumulative Return | 12.8% |
Cash Flow & Liquidity | |
|---|---|
| Cash Flow from Investing (TTM) | -196.37 Cr |
| Cash Flow from Operations (TTM) | 427.25 Cr |
| Cash Flow from Financing (TTM) | -271.85 Cr |
| Cash & Equivalents | 14.96 Cr |
| Free Cash Flow (TTM) | 419.4 Cr |
| Free Cash Flow/Share (TTM) | 4.7 |
Balance Sheet | |
|---|---|
| Total Assets | 1.88 kCr |
| Total Liabilities | 633.96 Cr |
| Shareholder Equity | 1.25 kCr |
| Current Assets | 1.44 kCr |
| Current Liabilities | 580.72 Cr |
| Net PPE | 15.65 Cr |
| Inventory | 0.00 |
| Goodwill | 0.00 |
Capital Structure & Leverage | |
|---|---|
| Debt Ratio | 0.00 |
| Debt/Equity | 0.00 |
| Interest Coverage | 269.96 |
| Interest/Cashflow Ops | 170.29 |
Dividend & Shareholder Returns | |
|---|---|
| Dividend/Share (TTM) | 3 |
| Dividend Yield | 2.46% |
| Shares Dilution (1Y) | 0.00% |
| Shares Dilution (3Y) | -0.80% |
Buy Backs: Company has bought back it's stock in the past which is a good thing.
Profitability: Very strong Profitability. One year profit margin are 66%.
Size: Market Cap wise it is among the top 20% companies of india.
Balance Sheet: Strong Balance Sheet.
Dividend: Dividend paying stock. Dividend yield of 2.46%.
Growth: Good revenue growth. With 53.3% growth over past three years, the company is going strong.
Smart Money: Smart money is losing interest in the stock.
Past Returns: Underperforming stock! In past three years, the stock has provided -6% return compared to 13.3% by NIFTY 50.
Momentum: Stock is suffering a negative price momentum. Stock is down -4.6% in last 30 days.
Technicals: SharesGuru indicator is Bearish.
Buy Backs: Company has bought back it's stock in the past which is a good thing.
Profitability: Very strong Profitability. One year profit margin are 66%.
Size: Market Cap wise it is among the top 20% companies of india.
Balance Sheet: Strong Balance Sheet.
Dividend: Dividend paying stock. Dividend yield of 2.46%.
Growth: Good revenue growth. With 53.3% growth over past three years, the company is going strong.
Smart Money: Smart money is losing interest in the stock.
Past Returns: Underperforming stock! In past three years, the stock has provided -6% return compared to 13.3% by NIFTY 50.
Momentum: Stock is suffering a negative price momentum. Stock is down -4.6% in last 30 days.
Technicals: SharesGuru indicator is Bearish.
Investor Care | |
|---|---|
| Dividend Yield | 2.46% |
| Dividend/Share (TTM) | 3 |
| Shares Dilution (1Y) | 0.00% |
| Earnings/Share (TTM) | 5.41 |
Financial Health | |
|---|---|
| Current Ratio | 2.47 |
| Debt/Equity | 0.00 |
Technical Indicators | |
|---|---|
| RSI (14d) | 37.84 |
| RSI (5d) | 3.73 |
| RSI (21d) | 43.12 |
| MACD Signal | Sell |
| Stochastic Oscillator Signal | Hold |
| SharesGuru Signal | Sell |
| RSI Signal | Hold |
| RSI5 Signal | Buy |
| RSI21 Signal | Hold |
| SMA 5 Signal | Sell |
| SMA 10 Signal |
Summary of Indian Energy Exchange's latest earnings call, featuring management's outlook on business performance, financial results, and analyst Q&A sessions that highlight key strategic initiatives and market challenges.
The management of Indian Energy Exchange (IEX) provided a positive outlook, emphasizing India's strong GDP growth of 8.2% in Q2 FY '26, with forecasts for FY '26 adjusted to 7.3% by the IMF. The company highlighted significant growth opportunities driven by robust domestic demand and ongoing policy reforms. Despite subdued electricity demand in Q3 FY '26, IEX recorded a year-on-year growth of 12% in electricity trading volume, totaling 34.1 billion units.
Key forward-looking points include:
Electricity Demand Recovery: While demand was flat at 392 billion units for Q3 FY '26, January saw a 6% year-over-year increase, with expectations for continued improvement as the weather normalizes.
Installed Capacity Growth: An additional 44.7 gigawatts of installed capacity was added in the first nine months of FY '26, achieving over 500 gigawatts total, with renewables accounting for over 50%.
Policy Reforms Impact: The Draft National Electricity Policy 2026 aims for substantial reforms including cost-reflective tariffs and a move toward routing long-term PPAs through power exchanges, enhancing market efficiency.
Revenue and Profit Growth: IEX reported a revenue increase of 14% year-on-year, from Rs. 160.5 crores to Rs. 183.1 crores for Q3 FY '26, alongside an 11% rise in profit after tax to Rs. 119.1 crores.
Renewable Energy Certificates (RECs): Despite a decrease in REC trading volume in Q3 FY '26, the management expects an uptick in REC transactions as regulatory measures are clarified, with longer-term goals to meet rising renewable purchase obligations.
Market Coupling and Regulatory Developments: The company is focusing on regulatory changes related to market coupling, which could enhance trading efficiencies in the future.
The outlook emphasizes a favorable growth trajectory for IEX, supported by government initiatives and an evolving energy landscape in India.
Understand Indian Energy Exchange ownership landscape with insights into key distribution patterns, offering investors a clear view of stakeholder dynamics.
| Shareholder Name | Holding % |
|---|---|
| PARAG PARIKH MUTUAL FUND UNDER ITS VARIOUS SCHEMES | 9.5% |
| SBI MUTUAL FUND UNDER ITS VARIOUS SCHEMES | 6.7% |
| ICICI PRUDENTIAL MUTUAL FUND UNDER ITS VARIOUS SCHEMES | 5.27% |
| DALMIA POWER LIMITED | 3.74% |
| MASSACHUSETTS INSTITUTE OF TECHNOLOGY | 2.48% |
| MIRAE ASSET MUTUAL FUND UNDER ITS VARIOUS SCHEMES | 1.2% |
Detailed comparison of Indian Energy Exchange against industry peers, highlighting key financial metrics, valuation ratios, and performance indicators to provide competitive context within the sector.
Ticker | Name | Mkt Cap | Revenue | Price %, 1M | Returns, 1Y | P/E | P/S | Rev 1-Yr | Inc 1-Yr |
|---|---|---|---|---|---|---|---|---|---|
| NTPC | NTPC | 3.69 LCr | 1.9 LCr | +3.60% | +12.60% | 15.26 | 1.94 | - | - |
| POWERGRID | POWER GRID Corp OF INDIA | 2.78 LCr | 48.3 kCr |
Comprehensive comparison against sector averages
IEX metrics compared to Capital
| Category | IEX | Capital |
|---|---|---|
| PE | 22.51 | 31.20 |
| PS | 14.97 | 10.85 |
| Growth | 14.7 % | 8.2 % |
Indian Energy Exchange Limited provides automated trading platform for physical delivery of electricity, renewable energy, and certificates. The company's platform offers customers with digital registration, market data insights, financial reconciliation, user access management, and web-based bidding services. Its products include Day-Ahead Market, a physical electricity trading market for deliveries for any/some/all 15 minute time blocks in 24 hours of next day starting from midnight; Term-Ahead-Market that provides a range of products allowing participants to buy/sell electricity on intra-day, day-ahead contingency, and term ahead contracts; Real-Time Market, an auction session every half an hour with power to be delivered after 4 time blocks or an hour after gate closure of the auction; Green Day-Ahead Market that allows anonymous and double-sided closed collective auction in renewable energy on a day-ahead basis; and Cross-Border Electricity Trade building an integrated South Asian Power Market; The Green-Term Ahead Market, a market solution for renewable energy trading which features contracts, including Green-Intraday, Green-Day-ahead Contingency, Green-Daily, and Green-Weekly. Indian Energy Exchange Limited was incorporated in 2007 and is based in Noida, India.
This is an informational page just to provide a quick 'first look' at the stock. You must do your own deeper research. Know your risk appetite. Consult a SEBI-registered financial advisor before making any investment decisions.
| Sell |
| SMA 20 Signal | Sell |
| SMA 50 Signal | Sell |
| SMA 100 Signal | Sell |
IEX vs Capital (2021 - 2026)
High Scoring Large Cap stocks have outperformed low scoring stocks by 90% over last 4 years
1. Question: "When would be the expected announcement date of the verdict? I understand we have to submit our written submissions by 4th Feb. When can we expect a verdict date?"
Answer: "I can't say definitively, but it should happen within a month's time."
2. Question: "In a scenario where things don't go in favour of us, what is the next possible thing we are planning to do?"
Answer: "First of all, why assume things won't go our way? If we must proceed with coupling, several steps are still necessary, such as issuing draft regulations and seeking comments. We'll have opportunities to express our views at each stage."
3. Question: "How is the slowdown likely to remain? If India's power demand grows 5% or 6%, how would your power demand grow and how would your volumes be impacted?"
Answer: "Power demand was subdued mainly due to weather conditions affecting agricultural loads and air conditioning requirements. In January, we've seen growth of nearly 18-19%, suggesting that when demand increases, volumes should follow suit."
4. Question: "What is the outlook for REC volume considering the recent compliance deadline extensions?"
Answer: "While the REC volume growth was initially strong, compliance deadlines pushed buyers to postpone purchases. By year-end, we expect to perform better than last year's volume, despite this temporary slowdown."
5. Question: "Could you clarify if the upcoming regulations around market coupling will only concern the DAM first, and if so, what is the timeline for subsequent regulations?"
Answer: "The current focus is on implementing market coupling in the Day-Ahead Market (DAM). After that, the experience gained will determine if and how we proceed with the Real-Time Market."
6. Question: "What is the expected depth and liquidity of electricity exchanges considering the introduction of Virtual Power Purchase Agreements (VPPAs)?"
Answer: "Currently, the liquidity for VPPAs is less than 1,000 MW, so there's substantial room for growth. If VPPA volumes increase, it'll enhance sell volume on exchanges and help optimize pricing without crashing it."
7. Question: "What measures are being taken regarding the IPO for the gas exchange, and what is the timeline?"
Answer: "We've initiated actions for the IPO of IGX to meet the 25% shareholder requirement as per regulations. We aim to complete this process within the year, pending necessary SEBI clearances."
8. Question: "How do you foresee growth in your gas and carbon exchanges over the next couple of years?"
Answer: "We anticipate gas exchange volumes will grow at 25-30% due to favorable market conditions. The carbon exchange's mandatory market is expected to start in FY '27 or '28, though exact opportunities remain to be seen."
These questions and answers encapsulate critical points discussed during the Q&A session of the earnings call, providing insights into the company's current situation and future directives.
| CANARA ROBECO MUTUAL FUND UNDER ITS VARIOUS SCHEMES | 1.01% |
Distribution across major stakeholders
Distribution across major institutional holders
| +3.40% |
| +12.20% |
| 17.91 |
| 5.76 |
| - |
| - |
| BSE | BSE | 1.12 LCr | 4.44 kCr | -5.00% | +94.10% | 51.66 | 25.25 | - | - |
| MCX | Multi Commodity Exchange of India | 12.33 kCr | 1.82 kCr | -0.40% | +171.80% | 104.84 | 8.49 | - | - |
| PTC | PTC India | 4.68 kCr | 16.2 kCr | -13.00% | +4.30% | 5.49 | 0.29 | - | - |
High Scoring Large Cap stocks have outperformed low scoring stocks by 90% over last 4 years
| -2.6% |
| 153 |
| 157 |
| 152 |
| 148 |
| 136 |
| 142 |
| Current tax | 10.8% | 42 | 38 | 38 | 37 | 30 | 35 |
| Deferred tax | -266.7% | -3.84 | -0.32 | -0.05 | -2.33 | 2.02 | 2.14 |
| Total tax | 0% | 38 | 38 | 38 | 35 | 32 | 37 |
| Total profit (loss) for period | -3.3% | 119 | 123 | 121 | 117 | 107 | 108 |
| Other comp. income net of taxes | 6.6% | 0.43 | 0.39 | -0.46 | 0.03 | 0.22 | 0.11 |
| Total Comprehensive Income | -3.3% | 120 | 124 | 120 | 117 | 108 | 108 |
| Earnings Per Share, Basic | -12.8% | 1.34 | 1.39 | 1.36 | 1.32 | 1.21 | 1.22 |
| Earnings Per Share, Diluted | -12.8% | 1.34 | 1.39 | 1.36 | 1.32 | 1.21 | 1.22 |
| 5.3% |
| 21 |
| 20 |
| 19 |
| 16 |
| 16 |
| 15 |
| Other expenses | 9.7% | 35 | 32 | 30 | 23 | 19 | 20 |
| Total Expenses | 10.8% | 104 | 94 | 85 | 78 | 76 | 69 |
| Profit Before exceptional items and Tax | 20.4% | 550 | 457 | 389 | 400 | 282 | 228 |
| Total profit before tax | 20.4% | 550 | 457 | 389 | 400 | 282 | 228 |
| Current tax | 23.6% | 132 | 107 | 96 | 102 | 66 | 50 |
| Deferred tax | -61.9% | 3.91 | 8.64 | -0.28 | -4.77 | 2.48 | 0.14 |
| Total tax | 18.4% | 136 | 115 | 96 | 97 | 68 | 50 |
| Total profit (loss) for period | 21.8% | 415 | 341 | 293 | 303 | 213 | 178 |
| Other comp. income net of taxes | -32.9% | -0.05 | 0.21 | 0.11 | 0.11 | 0.25 | -0.4 |
| Total Comprehensive Income | 21.4% | 415 | 342 | 293 | 303 | 214 | 178 |
| Earnings Per Share, Basic | 28.9% | 4.66 | 3.84 | 3.27 | 3.38 | 2.38333333 | 1.98666667 |
| Earnings Per Share, Diluted | 28.9% | 4.66 | 3.84 | 3.27 | 3.38 | 2.38333333 | 1.98666667 |
| -28.1% |
| 303 |
| 421 |
| 456 |
| 448 |
| 422 |
| 520 |
| Loans, non-current | - | 0 | 0 | 0 | 0 | 0 | 0 |
| Total non-current financial assets | -36% | 311 | 485 | 467 | 464 | 464 | 558 |
| Total non-current assets | -30% | 404 | 577 | 564 | 568 | 573 | 672 |
| Total assets | -14.9% | 1,835 | 2,157 | 1,700 | 1,749 | 1,597 | 1,439 |
| Total non-current financial liabilities | -26.5% | 4.05 | 5.15 | 6.55 | 7.94 | 10 | 12 |
| Provisions, non-current | 20% | 13 | 11 | 11 | 9.05 | 9.19 | 8.71 |
| Total non-current liabilities | 0% | 53 | 53 | 54 | 50 | 46 | 44 |
| Total current financial liabilities | -45.3% | 534 | 975 | 593 | 724 | 666 | 584 |
| Provisions, current | 2.8% | 0.31 | 0.29 | 0.44 | 0.28 | 0.3 | 0.23 |
| Current tax liabilities | 244.8% | 24 | 7.67 | 17 | 6.94 | 13 | 6.25 |
| Total current liabilities | -42.2% | 582 | 1,006 | 631 | 751 | 698 | 610 |
| Total liabilities | -40.1% | 635 | 1,059 | 685 | 801 | 744 | 654 |
| Equity share capital | 0% | 89 | 89 | 89 | 89 | 89 | 89 |
| Total equity | 9.3% | 1,200 | 1,098 | 1,015 | 948 | 853 | 784 |
| Total equity and liabilities | -14.9% | 1,835 | 2,157 | 1,700 | 1,749 | 1,597 | 1,439 |
| 43.5% |
| 430 |
| 300 |
| -22.49 |
| 788 |
| - |
| - |
| Proceeds from sales of PPE | -186.2% | 0.17 | 0.71 | 0 | 0 | - | - |
| Purchase of property, plant and equipment | -47.5% | 7.83 | 14 | 8.74 | 11 | - | - |
| Dividends received | -15.7% | 0.19 | 0.3 | 0.51 | 0.38 | - | - |
| Interest received | 90.5% | 41 | 22 | 7.36 | 9.93 | - | - |
| Other inflows (outflows) of cash | -531.4% | -230.84 | -35.72 | 71 | -472.47 | - | - |
| Net Cashflows From Investing Activities | -636% | -198.91 | -26.16 | 70 | -473 | - | - |
| Proceeds from exercise of stock options | - | 0.3 | 0 | 0.92 | 2.22 | - | - |
| Payments of lease liabilities | 2.3% | 5.03 | 4.94 | 2.59 | 1.72 | - | - |
| Dividends paid | 50.3% | 267 | 178 | 90 | 135 | - | - |
| Interest paid | -4.8% | 0.12 | 0.16 | 1.46 | 1.75 | - | - |
| Other inflows (outflows) of cash | - | 0 | 0 | -121.97 | 0 | - | - |
| Net Cashflows from Financing Activities | -48.2% | -271.85 | -183.09 | -214.79 | -135.77 | - | - |
| Net change in cash and cash eq. | -146.9% | -41.17 | 91 | -167.27 | 179 | - | - |