IEXFinancial Services

Indian Energy Exchange Limited

Exchange and Data Platform · ISIN INE022Q01020 · BSE 540750 · NSE EQ · FV ₹1
Last price
₹113
+1.25%today
What this company does

Indian Energy Exchange Limited operates in Exchange and Data Platform, part of the Financial Services sector. It booked ₹158 cr of revenue in its latest quarter (Q1 FY27) and kept 85.4% of sales as profit.

IEX is India’s premier energy exchange providing a nationwide, automated trading platform for physical delivery of electricity, renewable energy and certificates including renewable energy certificates as well as the energy saving certificates.
Their stated vision

is to create a workplace in integrity, inclusion and continuous growth.

In the report:
72out of 100
Equitytale Health Score
Solid

Healthier than 72% of companies in Financial Services, on the 5 of 6 measures we could read for it. Each measure is ranked against the 54–250 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
32

At close. Not part of the score.

Profitability & returns93

How much profit it earns on the money it employs

Cash quality73

Whether reported profit actually arrives as cash

Growth & consistency59

Whether sales and profit have grown, and how steadily

Valuation27

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Not measurable for this company: balance sheet. Those pillars are left out of the score rather than counted as zero.

Is this company doing well?
not investment advice
Strengths
Makes a profit
Strong 85% net margin
Sales up 11% vs last year
Profit up 12% vs last year
No promoter shares pledged
Strong 40% return on equity
Virtually debt-free
Watch-outs
! Operating cash flow is negative

What if I invest in IEX?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹113 +1.25%
latest close · 2026-09-17
1-year return
-22.8%
52-wk low ₹11052-wk high ₹319
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio18.7Average
LowAverageHigh
P/B ratio7.40High
Below bookModerateHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity39.5%Strong
WeakFairStrong ▸15%
Return on capital47.9%Strong
WeakFairStrong
Net margin85.4%Strong
ThinDecentStrong
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.00Comfortable
LowModerateHigh ▸1
Current ratio2.00Healthy
Tight ◂1HealthyAmple
More figures
Market cap
₹10,103 cr
Book value
₹15
EPS
₹1.52
latest quarter
Net debt
Enterprise value
EBITDA
EBIT
Operating margin
Return on assets
22.1%
Earnings yield
5.36%
P/S
16.00
Sales / share
₹7.1
Tax rate
24.9%
Face value
₹1
Shares
89.1 cr
Working capital
₹1,014 cr
Current assets
₹2,032 cr
Current liabilities
₹1,019 cr
Delivery %
47.5%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the FY 2025 report & filings
not investment advice
Hard to value confidentlyLow confidence
The market price is far above what these earnings- and book-based models support — a fast-growing or asset-light business can trade well above them for years, so we won't put a confident number on how overpriced it is.
Models span ₹29₹63, midpoint ₹35

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹158 cr
Other Income₹45 cr
Total Income₹203 cr
Cost of Materials₹0 cr
Purchases of Stock-in-Trade₹0 cr
Employee Benefit Expense₹14 cr
Finance Costs₹76.6 L
Depreciation & Amortisation₹6 cr
Other Expenses₹13 cr
Total Expenses₹34 cr
Profit before Tax₹169 cr
Tax Expense₹42 cr
Share of JV / Associates₹8 cr
Net Profit₹135 cr
Net margin on total income66.4%
Where the money goes · Q1 FY27
% of total income
Employee benefit expense₹14 cr6.7%
Finance costs₹76.6 L0.4%
Depreciation & amortisation₹6 cr2.9%
Other expenses₹13 cr6.1%
Tax expense₹42 cr20.0%
Profit for the period₹135 cr64.0%
Total income ₹203 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue146 cr174 cr158 cr
Total income183 cr196 cr203 cr
Expenses30 cr32 cr34 cr
Profit before tax153 cr165 cr169 cr
Tax38 cr39 cr42 cr
Net profit (owners' share)119 cr130 cr135 cr
Net margin (owners' share, on revenue)81.8%74.5%85.4%
EPS (₹)1.341.451.52
YoY (latest quarter): total income +10.1% · net profit +11.6%
Balance sheet & cash flow · as of Mar 2026
Debt-free
Total assets
₹2,436 cr
Shareholder equity
₹1,365 cr
parent shareholders
Total debt
₹0 cr
Cash
₹37 cr
Cash flow · H1 FY26
Operating
₹-9 cr
Investing
₹52 cr
Financing
₹-135 cr
Peer comparison
Financial Services · by market value (sector-level match)
CompanyPriceMarket capP/E
HDFC Bank Limited₹713₹10.98 L cr14.3
ICICI Bank Limited₹1,348₹9.67 L cr15.6
State Bank of India₹989₹9.13 L cr9.5
Bajaj Finance Limited₹1,015₹6.31 L cr26.4
Bajaj Finserv Limited₹1,859₹5.97 L cr23.7
Kotak Mahindra Bank Limited₹417₹4.14 L cr18.9
Axis Bank Limited₹1,240₹3.86 L cr12.6
Shriram Finance Limited₹995₹2.34 L cr16.7
ICICI Prudential Asset Management Company Limited₹3,098₹1.53 L cr39.7
Same sector · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
3.09%
trailing 12 months
Dividend / share (TTM)
₹3.5
Last dividend
₹2
ex 15 May 2026
ActionDetailEx-date
Dividend₹2 / share15 May 2026
Dividend₹1.5 / share4 Feb 2026
Dividend₹1.5 / share16 May 2025
Dividend₹1.5 / share31 Jan 2025
Dividend₹1.5 / share31 May 2024
Dividend₹1 / share2 Feb 2024
Who owns it · 2026-06-30
No pledge
Promoter
FII / Foreign
12.6%
DII / Domestic
31.5%
Retail / others
55.6%
Smart-money activity
Insider trades
BoughtDhruv Dhiman · Employees/Designated Employees6,250 · ₹8.8 L19 Jun 25
SoldDalmia Cement (Bharat) Limited · Other96.73 L · ₹199.6 cr6 Jun 25
SoldDalmia Cement (Bharat) Limited · Other10.00 L · ₹20.2 cr6 Jun 25
Bulk / block deals
short · NSE4,35025 Aug 26
short · NSE25121 Aug 26
short · NSE90029 Jul 26
Stake changes
SoldICICI Prudential Mutual Fund→ 3.12% · 1.87 cr9 Jun 26
SoldMirae Asset Mutual Fund→ 1.03% · 16.96 L20 Apr 26
SoldSBI Mutual fund under its Various Schemes→ 4.73% · 17.16 L29 Jan 26
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 9 Sep 2026
See the official result
1
To receive, consider and adopt audited standalone and consolidated financial statements for the financial year ended March 31, 2026, together with the Report of the Auditors thereon.
Backed by 100% of shareholders other than promotersneeded 50%
45.07 cr votes for, 1.05 L against · 0% of mutual funds and other big investors said no
2
To confirm the payment of Interim Dividend of Rs. 1.50/-per equity share and to approve and declare the payment of a Final Dividend of Rs. 2/- per equity share for the financial year ended March 31, 2026.
Backed by 100% of shareholders other than promotersneeded 50%
45.10 cr votes for, 1.03 L against · 0% of mutual funds and other big investors said no
3
To appoint Mr. Gautam Dalmia (DIN: 00009758) as Director, liable to retire by rotation.
Backed by 93% of shareholders other than promotersneeded 50%
41.73 cr votes for, 3.38 cr against · 10% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.