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Indian Energy Exchange Limited (IEX.NS)

INR118.89 +1.82 (+1.55%)
IN NSE Financial Services Financial - Capital Markets
Address Plot No. C-001/A/A 201301
Noida, IN
CEO Satyanarayan N. Goel
Website iexindia.com
IPO 2017-10-23
ISIN INE022Q01020

Explore sections of this company profile

Also trades on Bombay Stock Exchange · IEX.BO (INR) National Stock Exchange of India · IEX.NS (INR)
Description

Indian Energy Exchange Limited (IEX) operates a prominent digital platform for electricity trading, facilitating efficient buying, selling, and price discovery of power and related products. It offers robust risk management solutions for all participants in the electricity market. IEX's diverse product portfolio includes: Day-Ahead Market (DAM): A physical electricity trading venue for deliveries in 15-minute blocks over the subsequent 24-hour period. Term-Ahead Market (TAM): Provides a range of contract options for participants to trade electricity on an intra-day, day-ahead contingency, or term-ahead basis. Real-Time Market (RTM): Features half-hourly auctions where power is delivered approximately one hour after the auction's gate closure. Renewable Energy Certificates (RECs): Designed to simplify the procurement of green energy by state utilities and other obligated entities. Green Day-Ahead Market (GDAM): A double-sided, closed collective auction for renewable energy conducted on a day-ahead basis. Cross-Border Electricity Trade (CBET): An initiative aimed at fostering an integrated power market across South Asia. Energy Saving Certificates (ESCs): Market-based instruments tailored for consumers in energy-intensive industries such as aluminum, cement, thermal power plants, distribution utilities, refineries, railways, fertilizer, and iron & steel. Incorporated in 2007, Indian Energy Exchange Limited is headquartered in New Delhi, India.

Market Cap & Enterprise Value
Merger & Acquisition History

No mergers or acquisitions recorded for this company.

Technical Outlook
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Signal Summary Loading…
Indicator 1D1W2W3W1M
Each column is computed on that timeframe's candles (1D = daily, 1W ≈ weekly, 1M ≈ monthly), not on the same last day. ▲ bullish · ▼ bearish · — neutral. The Net row counts signals per column; hover any cell (or the indicator name) to see the exact rule behind it.
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
Indicative levels generated algorithmically. Not financial advice.
Risk Profile
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Price Chart
Averages
Trend
Price
Levels
Draw
INR118.89 +1.82 (+1.55%)
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Volume Profile
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Liquidity & share structure
Average Volume
7M
Beta
0.31
Float Shares
797.95M
Free Float %
89.7%
Price Performance
1D5D1M3M6M YTD1Y3Y5Y10YMax
+1.11% +0.23% +2.24% +1.88% -8.11% -4.63% -36.20% -16.34% +7.43% +135.68% +135.68%
Rolling Volatility
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Drawdown
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Relative Strength
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Monthly Returns Heatmap
From To
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Annual Monthly Returns
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Daily Returns Distribution
vs.
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Revenue flow

Revenue by geography

Revenue by segment

From To

Revenue composition

From To

By product

By geography

Financial Statements

Income Statement

Balance Sheet

Cash Flow Statement

Key Metrics

Financial Ratios

Employees

Financial Growth (CAGR)

Market Data

Price Targets & DCF
Current price
118.89
DCF (Unlevered) 215.76 +81.5%
DCF (Levered) 174.50 +46.8%

DCF figures are point estimates: small changes in growth or discount-rate assumptions move them materially. Read them as a reference, not a precise target.

Ratings Trend (MoM) 27% Bullish
Rating 2026-05 Change
Strong Buy 2 0
Buy 1 0
Hold 3 0
Sell 2 0
Strong Sell 3 0
Quality scores
Altman Z-Score
7.97
Safe zone
Piotroski F-Score
4 / 9
Average
MOAT Score
7 / 10
Strong MOAT
Composite Rating
A-
Overall Score
4 / 5
High
DCF Score
4 / 5
High
ROE Score
5 / 5
High
ROA Score
5 / 5
High
D/E Score
4 / 5
High
P/E Score
2 / 5
Medium
P/Book Score
1 / 5
Low
Operational MOAT
✗ Below peers
  • ✓
    Revenue growth Financial - Capital Markets: +19.7%
    +14.7% Q1'26: +22.9% (vs Q1'25)
  • ✓
    EPS growth Financial - Capital Markets: +35.3%
    +14.7% Q1'26: +9.8% (vs Q1'25)
  • ✓
    FCF margin FCF growth · Financial - Capital Markets: +29.5%
    +67.9% Q1'26: -10.0% (vs Q1'25)
  • ✓
    EBIT margin Financial - Capital Markets: +33.5%
    +80.7% ★ Q1'26: +82.2% (vs Q1'25)
  • ✓
    ROIC Financial - Capital Markets: +4.0%
    — Q1'26: -102.4% (vs Q1'25)
  • ✗
    Share dilution Financial - Capital Markets: +0.0%
    +0.1% Q1'26: +0.9% (vs Q1'25)
  • ✓
    Debt / EBITDA Net debt/EBITDA · Financial - Capital Markets: -0.30×
    0.02× ★ Q1'26: 0.02× (vs Q1'25)
Valuation Multiples From To
Price Forecast (3Y) From To
Model
Adjust
P/E
Theoretical Return — If Invested Today

* These projections are based on analyst consensus estimates and user-defined valuation multiples. This table is for informational purposes only and does not constitute a recommendation to buy or sell any security. Past performance is not indicative of future results.

DCF Interactive Model (UFCF)
Projection years:
Market assumptions
▶ WACC components (optional)
Ke (Cost of Equity) = Rf + β (0.31) × ERP
WACC = 100% × Ke + 0% × Kd (20.5%) × (1−t)

Modifying these values recalculates WACC automatically.

Business assumptions
—
Intrinsic value (base): 215.76 Current price: 118.89
Enterprise Value: — Equity Value: — Terminal Value: — TV as % of EV: —

Base values reflect the latest available data for this company and market conditions.

Consensus Estimates
Metric Mar 2018
actual 		Mar 2019
actual 		Mar 2020
actual 		Mar 2021
actual 		Mar 2022
actual 		Mar 2023
actual 		Mar 2024
actual 		Mar 2025
actual 		Mar 2026
6 Rev. Ana.
7 EPS Ana. 		Mar 2027
4 Rev. Ana.
6 EPS Ana. 		Mar 2028
6 Rev. Ana.
7 EPS Ana. 		Mar 2029
1 Rev. Ana.
1 EPS Ana. 		Mar 2030
1 Rev. Ana.
1 EPS Ana.
Revenue
2.30B
est: 2.37B (-2.9%)
2.54B
est: 2.61B (-2.9%)
2.57B
est: 2.63B (-2.2%)
3.18B
est: 3.18B (0.0%)
4.31B
est: 4.32B (-0.3%)
4.01B
est: 4.10B (-2.3%)
5.51B
est: 5.78B (-4.7%)
5.37B
est: 5.39B (-0.4%)
6.07B
6.02B – 6.18B
+12.6% YoY
6.73B
6.44B – 7.04B
+10.9% YoY
6.70B
5.32B – 8.02B
-0.5% YoY
6.03B
5.99B – 6.06B
-10.1% YoY
5.54B
4.84B – 6.22B
-8.1% YoY
EBITDA
2.10B
est: 2.27B (-7.3%)
2.43B
est: 2.54B (-4.4%)
2.42B
est: 2.51B (-3.5%)
2.89B
est: 3.06B (-5.5%)
4.24B
est: 3.52B (+20.7%)
4.23B
est: 3.92B (+7.8%)
4.89B
est: 5.45B (-10.3%)
5.88B
est: 5.09B (+15.6%)
5.73B
5.68B – 5.83B
+12.6% YoY
6.36B
6.08B – 6.64B
+10.9% YoY
6.32B
5.02B – 7.57B
-0.5% YoY
5.69B
5.65B – 5.72B
-10.1% YoY
5.23B
4.57B – 5.87B
-8.1% YoY
EBIT
2.00B
est: 2.21B (-9.3%)
2.32B
est: 1.89B (+23.3%)
2.27B
est: 1.96B (+16.0%)
2.73B
est: 2.05B (+32.8%)
4.07B
est: 2.36B (+72.5%)
4.04B
est: 2.83B (+42.8%)
4.69B
est: 5.32B (-11.9%)
5.67B
est: 4.97B (+14.2%)
5.59B
5.54B – 5.69B
+12.6% YoY
6.20B
5.93B – 6.48B
+10.9% YoY
6.17B
4.90B – 7.38B
-0.5% YoY
5.55B
5.52B – 5.58B
-10.1% YoY
5.10B
4.46B – 5.72B
-8.1% YoY
Net Income
1.32B
est: 1.32B (-0.1%)
1.65B
est: 1.42B (+16.0%)
1.76B
est: 1.68B (+4.6%)
2.06B
est: 1.93B (+6.9%)
3.09B
est: 2.22B (+39.4%)
3.06B
est: 2.66B (+14.9%)
3.51B
est: 3.71B (-5.5%)
4.29B
est: 4.53B (-5.3%)
4.87B
4.82B – 4.91B
+7.3% YoY
5.33B
5.16B – 5.61B
+9.5% YoY
5.64B
4.20B – 6.38B
+5.8% YoY
4.71B
3.96B – 5.49B
-16.5% YoY
4.54B
3.80B – 5.26B
-3.7% YoY
SGA
55.99M
est: 77.33M (-27.6%)
105.50M
est: 427.16M (-75.3%)
77.23M
est: 480.39M (-83.9%)
81.10M
est: 556.26M (-85.4%)
72.28M
est: 639.85M (-88.7%)
111.66M
est: 767.57M (-85.5%)
411.87M
est: 158.85M (+159.3%)
96.67M
est: 148.24M (-34.8%)
166.93M
165.35M – 169.87M
+12.6% YoY
185.12M
177.00M – 193.51M
+10.9% YoY
184.15M
146.26M – 220.46M
-0.5% YoY
165.61M
164.70M – 166.52M
-10.1% YoY
152.27M
133.15M – 170.84M
-8.1% YoY
EPS
1.49
est: 1.48 (+0.4%)
1.82
est: 1.86 (-2.0%)
1.96
est: 1.97 (-0.3%)
2.30
est: 2.33 (-1.5%)
3.45
est: 3.41 (+1.1%)
3.42
est: 3.29 (+4.0%)
3.94
est: 4.18 (-5.6%)
4.83
est: 4.73 (+2.0%)
5.45
5.42 – 5.52
+15.2% YoY
6.03
5.79 – 6.30
+10.6% YoY
6.09
4.72 – 7.17
+0.9% YoY
5.33
4.46 – 6.17
-12.5% YoY
5.10
4.27 – 5.91
-4.2% YoY
Historical Ratings (3M)
Date Rating Overall DCF ROE ROA D/E P/E P/B
2026-05-29 A- 4/5 4/5 5/5 5/5 4/5 2/5 1/5
2026-05-27 A- 4/5 4/5 5/5 5/5 4/5 2/5 1/5
2026-05-26 A- 4/5 4/5 5/5 5/5 4/5 2/5 1/5
2026-05-25 A- 4/5 4/5 5/5 5/5 3/5 2/5 1/5
2026-05-22 A- 4/5 4/5 5/5 5/5 3/5 2/5 1/5
2026-05-21 A- 4/5 4/5 5/5 5/5 3/5 2/5 1/5
2026-05-20 A- 4/5 4/5 5/5 5/5 3/5 2/5 1/5
2026-05-19 A- 4/5 4/5 5/5 5/5 3/5 2/5 1/5
2026-05-18 A- 4/5 4/5 5/5 5/5 3/5 2/5 1/5
2026-05-15 A- 4/5 4/5 5/5 5/5 4/5 1/5 1/5
2026-05-14 A- 4/5 4/5 5/5 5/5 4/5 1/5 1/5
2026-05-13 A- 4/5 4/5 5/5 5/5 4/5 1/5 1/5
2026-05-12 A- 4/5 4/5 5/5 5/5 4/5 1/5 1/5
2026-05-11 A- 4/5 4/5 5/5 5/5 4/5 1/5 1/5
2026-05-08 A- 4/5 4/5 5/5 5/5 4/5 1/5 1/5
2026-05-07 A- 4/5 4/5 5/5 5/5 4/5 1/5 1/5
2026-05-06 A- 4/5 4/5 5/5 5/5 4/5 1/5 1/5
2026-05-05 A- 4/5 4/5 5/5 5/5 4/5 1/5 1/5
2026-05-04 A- 4/5 4/5 5/5 5/5 4/5 1/5 1/5
2026-04-30 A- 4/5 4/5 5/5 5/5 3/5 2/5 1/5
2026-04-29 A- 4/5 4/5 5/5 5/5 3/5 2/5 1/5
2026-04-28 A- 4/5 4/5 5/5 5/5 3/5 2/5 1/5
2026-04-27 A- 4/5 4/5 5/5 5/5 3/5 2/5 1/5
2026-04-24 A- 4/5 4/5 5/5 5/5 3/5 2/5 1/5
2026-04-23 C 2/5 4/5 1/5 1/5 1/5 2/5 1/5
2026-04-22 C 2/5 4/5 1/5 1/5 1/5 2/5 1/5
2026-04-21 C 2/5 5/5 1/5 1/5 1/5 2/5 1/5
2026-04-20 C 2/5 5/5 1/5 1/5 1/5 2/5 1/5
2026-04-17 C 2/5 5/5 1/5 1/5 1/5 2/5 1/5
2026-04-16 C 2/5 5/5 1/5 1/5 1/5 2/5 1/5

Owner Earnings

Owner's Earnings (history) From To
Owner alignment
Owner's Earnings TTM
35.03M
OE per share TTM
0.04
Owner's Yield
0.03%
Maintenance CapEx ratio
0.76%
Maint CapEx / Avg PPE
5.0%

Ownership Overview

Ownership breakdown

Ownership breakdown not available.

At a glance
Institutional holders
—
Total invested
—
Insider transactions (90d)
0
Beneficial owners (>5%)
0
Beneficial owners (>5%)

No beneficial ownership filings recorded.

Institutional Activity (13F)

Institutional ownership trend

Institutional history not available.

Top institutional holders

Top holders not available.

ETF Ownership

Top ETFs holding this stock Held by 11 ETFs in our universe
# ETF Weight Est. AUM exposure TER
1 The India Internet ETF INQQ 4.16% 1.80M 0.86%
2 VanEck Digital India ETF DGIN 0.62% 96.5K 0.70%
3 State Street SPDR S&P Emerging Markets Small Cap ETF EWX 0.04% 317.8K 0.65%
4 WisdomTree Emerging Markets SmallCap Dividend UCITS ETF DGSD.L 0.03% 12.9K 0.54%
5 WisdomTree Emerging Markets SmallCap Dividend Fund DGS 0.02% 378.8K 0.58%
6 WisdomTree India Earnings Fund EPI 0.02% 380.5K 0.84%
7 Dimensional Emerging Markets Sustainability Core 1 ETF DFSE 0.01% 62.0K 0.44%
8 Dimensional - Emerging Markets Core Equity 2 ETF DFEM 0.01% 716.7K 0.39%
9 State Street SPDR Portfolio Emerging Markets ETF SPEM 0.00% 845.5K 0.07%
10 Dimensional - Emerging Core Equity Market ETF DFAE 0.00% 411.0K 0.29%

Insider Activity

Insider Activity — Latest Quarter

No insider activity available.

Insider buys vs sells (history)

Insider history not available.

Recent insider transactions

No recent insider transactions.

Executive team

Top executives
EBIT / Employee
29.22M
Shares Outstanding
889.30M

Executive compensation

Executive compensation (annual)

Executive compensation not available.

CEO compensation breakdown

No CEO compensation history available.

Proxy statements

Proxy statements (DEF 14A)

No proxy statements available for this company yet.

Recent SEC filings

Recent SEC filings

No SEC filings available for this company yet.

Executive team

NameTitleCompensationGender
Satyanarayan N. Goel Joint MD, Co-CEO & Chairman 45M male
Vineet Harlalka Chief Financial Officer, Compliance Officer & Company Secretary 14M male
Rohit Bajaj Joint MD, Co-CEO & Director 12M male
Deepak Mehta Senior Vice President of Business Development - Gas Business — male
Amit Kumar Executive Director and Head of Market Operations, New Product Initiatives & Exchange Technology — male
Puneet Chitkara SVP & Head of Strategy — —
Aparna Garg Head of Investor Relations & Corporate Communications — female
Brijesh Narang Vice President of Human Resources & Administration — male
ESG Score History

No data available for this company.

Senate Trading Activity

No Senate trading activity found for this company.

House Trading Activity

No House trading activity found for this company.

Market share among peers
Peer comparison — filtered group (TTM)
Your opinion

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Dividend yield history

Dividend history

Earnings history

Earnings reports

Stock splits

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