Indian Energy Exchange Ltd.

NSE: IEX · Exchange and Data Platform

52W Range₹115 ₹160

Snapshot

Unlock Indian Energy Exchange Ltd.'s vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Indian Energy Exchange Limited operates a premier power trading platform that facilitates price discovery and the trading of electricity and related products. The company provides various market segments including Day-Ahead, Term-Ahead, and Real-Time markets, alongside environmental products like Renewable Energy Certificates.

Business Model

The company operates as a power exchange, generating revenue primarily through transaction fees charged to participants for trading electricity and environmental certificates on its platform. It provides the infrastructure for efficient price discovery and risk management in the Indian electricity market.

Growth Outlook

Growth is driven by the expansion of the Cross-Border Electricity Trade and the increasing adoption of green energy products. The company continues to focus on integrating the South Asian power market and diversifying its portfolio of market-based energy instruments.

Key Risks

  • Regulatory Risk. The company operates in a highly regulated sector where changes in government policy or CERC regulations could significantly impact trading volumes and fee structures.
  • Market Competition. The emergence of new power exchanges or alternative trading platforms could erode market share and pressure transaction fee margins.
  • Power Supply Volatility. Fluctuations in domestic power generation, fuel availability, and grid constraints directly influence the volume of electricity traded on the exchange.
  • Technological Dependency. As a digital trading platform, the company is vulnerable to system failures, cyber-attacks, or technical glitches that could disrupt market operations.

Price

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Key Metrics

REVENUE

₹616 Cr

TTM · consolidated

+14.6%YoY

NET PROFIT

₹493 Cr

TTM · consolidated

+14.9%YoY

EPS

₹5.54

TTM · consolidated

+14.7%YoY

RETURN ON EQUITY

41.3%

TTM · consolidated

-1.1 ppYoY

RETURN ON CAPITAL EMPLOYED

50.4%

TTM · consolidated

-1.5 ppYoY

P/E

22.5x

Q4 FY26 · consolidated

22.5 vs 27.3x5Y avg

EV/EBITDA

17.0x

Q4 FY26 · consolidated

17.0 vs 23.8x5Y avg

EBITDA MARGIN

105.8%

TTM · consolidated

-1.0 ppYoY

NET PROFIT MARGIN

74.5%

Q4 FY26 · consolidated

-7.8 ppYoY

DEBT TO EQUITY

0.0x

Q4 FY26 · consolidated

+0.00xYoY

Peers · Exchange and Data Platform

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Indian Energy Exchange Ltd.IEX
10,62822.5216.9714.6%105.8%41.3%50.4%-40.1%
BSE Ltd.BSE
1,13,87261.0943.7562.5%70.2%49.9%51.1%+45.7%
Multi Commodity Exchange of India Ltd.MCX
60,85624.4740.02106.9%76.9%62.7%51.9%-66.4%

As of Q4 FY26

Financials