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Indian Energy Exch Overview

Indian Energy Exchange Ltd is an India-based company, which offers an digital platform for the trading of electricity products. Its products include day-ahead-market (DAM) electricity contracts, term- ahead market (TAM) electricity contract, Renewable Energy Certificates (REC) and Energy Saving Certificates. Buyers and sellers electronically post bids all through the market consultation and the matching of bids is finished on double sided closed public sale mechanism with uniform market clearing rate. Its alternate permits trading in weekly con...Read More

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Indian Energy Exch Key Financials

Market Cap ₹12110 Cr.

Stock P/E 28.2

P/B 8.9

Current Price ₹135.8

Book Value ₹ 15.3

Face Value 1

52W High ₹215.4

Dividend Yield 2.21%

52W Low ₹ 114.5

Indian Energy Exch Share Price

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Volume
Price

Indian Energy Exch Quarterly Price

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Indian Energy Exch Peer Comparison

Indian Energy Exch Quarterly Results

#(Fig in Cr.) Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Net Sales 109 115 121 124 139 132 142 142 154 146
Other Income 24 26 28 31 28 28 32 42 29 37
Total Income 133 141 149 154 168 161 175 184 183 183
Total Expenditure 17 17 17 24 20 19 21 26 20 24
Operating Profit 116 125 133 130 148 142 154 158 163 159
Interest 1 1 1 1 1 1 1 1 1 1
Depreciation 5 5 5 5 5 5 5 5 6 6
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 111 119 127 124 142 136 148 152 157 153
Provision for Tax 28 30 32 31 37 32 35 38 38 38
Profit After Tax 83 88 95 93 105 103 113 114 119 115
Adjustments 4 3 2 4 3 4 4 7 5 4
Profit After Adjustments 86 92 97 96 108 107 117 121 123 119
Adjusted Earnings Per Share 1 1 1.1 1.1 1.2 1.2 1.3 1.4 1.4 1.3

Indian Energy Exch Profit & Loss

#(Fig in Cr.) Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 254 257 318 431 401 449 537 584
Other Income 40 40 38 53 73 102 120 140
Total Income 294 297 356 484 474 551 657 725
Total Expenditure 51 55 67 67 64 72 84 91
Operating Profit 243 242 289 417 410 479 574 634
Interest 1 2 2 2 2 3 3 4
Depreciation 10 15 17 17 19 20 21 22
Exceptional Income / Expenses 0 0 0 6 0 0 0 0
Profit Before Tax 232 226 270 405 402 466 565 610
Provision for Tax 67 50 65 97 96 115 135 149
Profit After Tax 165 176 205 309 306 351 429 461
Adjustments 0 0 1 1 0 0 0 20
Profit After Adjustments 165 176 206 309 306 351 429 480
Adjusted Earnings Per Share 1.8 2 2.3 3.4 3.4 3.9 4.8 5.4

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 20% 8% 16% 0%
Operating Profit CAGR 20% 11% 19% 0%
PAT CAGR 22% 12% 20% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR -28% -4% 3% NA%
ROE Average 41% 41% 44% 45%
ROCE Average 54% 54% 57% 58%

Indian Energy Exch Balance Sheet

#(Fig in Cr.) Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 370 388 526 703 799 972 1136
Minority's Interest 0 0 30 0 0 0 0
Borrowings 0 0 0 0 0 0 0
Other Non-Current Liabilities 30 44 44 39 44 50 54
Total Current Liabilities 305 235 382 954 610 751 1007
Total Liabilities 706 667 982 1696 1453 1774 2196
Fixed Assets 111 119 121 110 110 101 87
Other Non-Current Assets 207 204 123 113 572 489 526
Total Current Assets 387 345 737 1473 772 1184 1584
Total Assets 706 667 982 1696 1453 1774 2196

Indian Energy Exch Cash Flow

#(Fig in Cr.) Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 53 51 13 46 224 57 148
Cash Flow from Operating Activities 138 126 306 762 -23 298 427
Cash Flow from Investing Activities -62 -3 -196 -448 70 -24 -196
Cash Flow from Financing Activities -78 -161 -77 -136 -215 -183 -272
Net Cash Inflow / Outflow -2 -38 33 178 -167 91 -41
Closing Cash & Cash Equivalent 51 13 46 224 57 148 107

Indian Energy Exch Ratios

# Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 1.82 1.96 2.3 3.44 3.43 3.94 4.82
CEPS(Rs) 1.94 2.13 2.48 3.63 3.64 4.17 5.06
DPS(Rs) 0 2.5 1.33 2 1 2.5 3
Book NAV/Share(Rs) 4.01 4.24 5.75 7.68 8.79 10.73 12.56
Core EBITDA Margin(%) 79.83 78.62 78.85 84.37 83.91 83.9 84.44
EBIT Margin(%) 91.5 88.35 85.73 94.47 100.86 104.41 105.56
Pre Tax Margin(%) 91.21 87.74 85.09 94.02 100.24 103.78 105.08
PAT Margin (%) 64.96 68.34 64.63 71.6 76.31 78.1 79.88
Cash Profit Margin (%) 69.06 74.27 69.83 75.6 80.95 82.66 83.84
ROA(%) 23.39 25.6 24.92 23.05 19.42 21.74 21.62
ROE(%) 45.4 47.32 45.97 51.28 41.56 40.35 41.37
ROCE(%) 62.79 59.93 59.62 66.24 53.81 52.95 53.8
Receivable days 65.92 32.7 1.94 38.35 42.98 3.18 1.16
Inventory Days 0 0 0 0 0 0 0
Payable days 0 0 0 0 0 0 0
PER(x) 30.08 21.71 48.22 65.16 37.25 34.11 36.46
Price/Book(x) 13.66 10.06 19.31 29.24 14.55 12.52 13.99
Dividend Yield(%) 0 1.95 1.2 0.89 0.78 1.86 1.71
EV/Net Sales(x) 19.27 14.73 30.94 46.21 28.26 26.22 28.92
EV/Core EBITDA(x) 20.16 15.62 34.02 47.76 27.66 24.61 27.08
Net Sales Growth(%) 0 1.2 23.61 35.61 -7 12.05 19.62
EBIT Growth(%) 0 -2.28 19.95 49.43 -0.72 16 20.93
PAT Growth(%) 0 6.47 16.91 50.24 -0.89 14.68 22.35
EPS Growth(%) 0 7.75 17.22 49.67 -0.32 14.68 22.35
Debt/Equity(x) 0 0 0 0 0 0 0
Current Ratio(x) 1.27 1.46 1.93 1.54 1.26 1.58 1.57
Quick Ratio(x) 1.27 1.46 1.93 1.54 1.26 1.58 1.57
Interest Cover(x) 316.64 145.11 132.62 206.2 164.58 165.44 216.74
Total Debt/Mcap(x) 0 0 0 0 0 0 0

Indian Energy Exch Shareholding Pattern

# Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Promoter 0 0 0 0 0 0 0 0 0 0
FII 13.37 10.9 11.67 15.63 16.21 16.12 18.53 13.19 11.41 14.16
DII 26.34 27.25 31.24 31.51 32.78 34.12 34.12 36.43 34.94 30.26
Public 60.29 61.86 57.1 52.86 51.01 49.76 47.34 50.38 53.64 55.58
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Indian Energy Exch News

Indian Energy Exch Pros & Cons

Pros

  • Company has a good return on equity (ROE) track record: 3 Years ROE 41%
  • Company is almost debt free.

Cons

  • Promoter holding is low: 0%.
  • Stock is trading at 8.9 times its book value.
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