| Margins | Strong PAT margins across core and new ventures (IGX, ICX). |
|---|---|
| Demand visibility | Strong, FY32 forecast demand ~2,700 BU. |
| Management confidence | High regarding ecosystem expansion and technology-led market share retention. |
Growth
FY26 electricity volumes reached 141 BU; RTM volumes grew 41% YoY to ~55 BU. ICX PAT grew to INR 4.7 Cr (+200% YoY).
Outlook
Targeting 2,700 BU power demand by FY32. Coal demand to grow to 2.0Bn MT by FY35. Carbon credit trading expected by FY27.
Risks
Regulatory uncertainty regarding Market Coupling implementation and potential loss of market share to a single Market Coupling Operator.
Last quarter's promises, checked
Delivered
- Targeting 15% to 20% volume growth → delivered 17% for FY26 (= BEAT)
- Expected India GDP growth of 7.6% for FY26 → delivered 7.6% (= BEAT)
- Targeting 50% renewable capacity by 2030 → delivered 50% in FY26 (= BEAT)
Partly delivered
- Targeting market coupling implementation by Jan 2026 → implementation delayed pending final CERC regulations (= PARTIAL)
Missed
- Expected Q1 FY27 growth in gas exchange → delivered no growth expected in Q1 (= MISS)
Investor Presentation filed with BSE, NSE: IEX. Summary written with AI assistance from the document.
Indian Energy Exchange Ltd: key numbers
- Share price
- ₹112.70
- Market cap
- ₹10,049 Cr
- Revenue (annual)
- ₹615.6 Cr
- Net profit (annual)
- ₹492.9 Cr
- P/E (TTM)
- 19.8×Sector 22.0×
- Promoter holding
- 0.00%+0.00% QoQ
- FII holding
- 12.63%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
More from Indian Energy Exchange Ltd
All →Indian Energy Exchange Capacity Expansion
IEX's subsidiary, Indian Coal Exchange Limited, applied to the Coal Controller Organisation for a Coal Exchange license. The application awaits regulatory scrutiny and approval.
Indian Energy Exchange Annual General Meeting
IEX filed proceedings of its 20th AGM held September 9, 2026. Shareholders approved Rs. 3.50 per share total dividend and reappointed Mr. Gautam Dalmia as director.
Indian Energy Exchange Business Update
IEX recorded its highest ever monthly electricity traded volume of 13.94 BU in August 2026, marking a 20.2% year-on-year increase. The company's market segments showed broad growth.
Indian Energy Exchange Earnings Call Transcript: Key Takeaways
IEX delivered robust double-digit volume growth in Q1FY27, driven by sharp RTM expansion and cooling energy prices. Management remains confident despite looming regulatory threats around market coupling.
- Call
- Guides 15% growth
Indian Energy Exchange Q1 FY27 Results: Net Profit ₹134.8 Cr, Up 11.7% YoY
Indian Energy Exchange Ltd reported revenue from operations of ₹157.9 Cr (+11.4% YoY) and net profit of ₹134.8 Cr (+11.7% YoY) for Q1 FY27.
- Key figure
- Net profit ₹134.8 Cr · +11.7% YoY
Indian Energy Exchange Earnings Call: Key Takeaways
IEX reported record quarterly traded electricity volume of 39.4 BU, up 24.3% YoY. Consolidated revenue grew 12.5% to ₹196.4 crores, and PAT rose 10.8% to ₹129.8 crores in Q4 FY26.