ALFA Finder| 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
- ₹114.05
- Market cap
- ₹10,170 Cr
- Revenue (annual)
- ₹615.6 Cr
- Net profit (annual)
- ₹492.9 Cr
- P/E (TTM)
- 19.4×Sector 20.8×
- Promoter holding
- 0.00%+0.00% QoQ
- FII holding
- 12.02%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 Business Update
IEX reported October 2026 electricity traded volume of 13,092 MU, up 16.5% YoY. Day-ahead prices rose sharply year-on-year amid higher demand.
Indian Energy Exchange Other Announcement
IEX reported a contra trade by a designated person's relative and disclosed a ₹1,230 profit disgorgement to SEBI. Two designated persons were also issued warning letters for contra trades.
Indian Energy Exchange Earnings Call Transcript: Key Takeaways
IEX delivered record volumes and double-digit profit growth despite high market prices and monsoon-driven supply volatility.
- Call
- Guides 15% growth
Indian Energy Exchange Investor Presentation: Key Takeaways
IEX Q2 FY27 deck discloses no quarterly P&L. RTM is 41% of H1 FY27 electricity volumes (~33 BU). Strategy centres on Green RTM, peak contracts, carbon credits and market coupling.
Indian Energy Exchange Results Update
IEX reported H1 FY27 consolidated PAT of Rs 274.0 crore, up 12.3%, and Q2 consolidated PAT of Rs 139.2 crore. Electricity volumes grew 14.2% in H1 and 12.7% in Q2.
Indian Energy Exchange Q2 FY27 Results: Net Profit ₹139.2 Cr, Up 12.9% YoY
Indian Energy Exchange Ltd reported revenue from operations of ₹167.1 Cr (+8.6% YoY) and net profit of ₹139.2 Cr (+12.9% YoY) for Q2 FY27.
- Key figure
- Net profit ₹139.2 Cr · +12.9% YoY