Indian Energy Exchange Ltd. (IN:IEX)
:IEX
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Indian Energy Exchange Ltd.
(IEX)
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Rating:72Outperform
Price Target:
₹127.00
▼(-17.93% Downside)
Action:ReiteratedDate:01/07/26
The score is driven primarily by strong financial performance (high margins, solid growth, strong cash conversion, and very low leverage). This is tempered by mixed technical signals, including a negative MACD and the stock remaining below its 200-day average. Valuation is reasonable but not cheap, with the dividend yield providing some support.
Positive Factors
High and Sustainable Profitability
Exceptionally high operating and net margins reflect a scalable, low-variable-cost exchange model that converts incremental volume into outsized profits. This structural margin advantage supports reinvestment, dividends, and buffers earnings through volume cycles over many quarters.
Negative Factors
Rising Liabilities Trend
A sustained increase in liabilities can erode the company’s low-leverage profile over time, potentially tightening liquidity or increasing funding costs. If unchecked, it could reduce balance-sheet flexibility for investments or shareholder distributions across the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
High and Sustainable Profitability
Exceptionally high operating and net margins reflect a scalable, low-variable-cost exchange model that converts incremental volume into outsized profits. This structural margin advantage supports reinvestment, dividends, and buffers earnings through volume cycles over many quarters.
Read all positive factors
Indian Energy Exchange Ltd. (IEX) vs. iShares MSCI India ETF (INDA)
Market Cap
₹102.28B
Dividend Yield3.23%
Average Volume (3M)274.69K
Price to Earnings (P/E)25.0
Beta (1Y)1.29
Revenue Growth14.10%
EPS Growth19.23%
CountryIN
Employees170
SectorServices
Sector StrengthN/A
IndustryFinancial - Capital Markets
Share Statistics
EPS (TTM)1.30
Shares Outstanding891,692,750
10 Day Avg. Volume234,014
30 Day Avg. Volume274,691
Financial Highlights & Ratios
PEG Ratio1.62
Price to Book (P/B)13.82
Price to Sales (P/S)29.25
P/FCF Ratio37.44
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹142.00Price Target Upside-8.24% Downside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)5.85
Revenue Forecast (FY)₹6.42B
Indian Energy Exchange Ltd. Business Overview & Revenue Model
Company Description
Indian Energy Exchange Limited operates a power trading platform. It enables trading and price discovery of electricity and related products with risk management for participants of the electricity market. The company's products include Day-Ahead ...
How the Company Makes Money
IEX primarily makes money by charging fees linked to transactions executed on its exchange platform. Key revenue streams typically include: (1) Transaction charges/fees: Fees assessed on electricity trades cleared through IEX’s markets (the core d...
Indian Energy Exchange Ltd. Financial Statement Overview
Summary
Income Statement
85
Very Positive
Balance Sheet
78
Positive
Cash Flow
82
Very Positive
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 5.70B | 5.37B | 5.51B | 4.01B | 4.31B | 3.18B |
| Gross Profit | 5.16B | 4.98B | 5.50B | 3.71B | 3.95B | 2.78B |
| EBITDA | 6.31B | 5.88B | 4.89B | 4.23B | 4.24B | 2.89B |
| Net Income | 4.68B | 4.29B | 3.51B | 3.06B | 3.09B | 2.06B |
Balance Sheet | ||||||
| Total Assets | 18.82B | 21.97B | 17.74B | 14.53B | 16.96B | 9.85B |
| Cash, Cash Equivalents and Short-Term Investments | 13.88B | 9.68B | 9.33B | 7.52B | 13.73B | 7.02B |
| Total Debt | 48.84M | 61.55M | 103.63M | 140.97M | 100.09M | 117.31M |
| Total Liabilities | 6.34B | 10.60B | 8.01B | 6.54B | 9.93B | 4.29B |
| Stockholders Equity | 12.48B | 11.36B | 9.72B | 7.99B | 7.03B | 5.26B |
Cash Flow | ||||||
| Free Cash Flow | -174.96M | 4.19B | 2.83B | -316.43M | 7.51B | 2.85B |
| Operating Cash Flow | -87.17M | 4.27B | 2.98B | -226.18M | 7.62B | 3.06B |
| Investing Cash Flow | 522.36M | -1.96B | -244.98M | 702.64M | -4.48B | -1.96B |
| Financing Cash Flow | -1.35B | -2.72B | -1.83B | -2.15B | -1.36B | -771.22M |
Indian Energy Exchange Ltd. Technical Analysis
Negative
154.75
Price Trends
124.27
Negative
131.61
Negative
144.00
Negative
Market Momentum
-2.05
Positive
39.56
Neutral
39.93
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:IEX, the sentiment is Negative. The current price of 154.75 is above the 20-day moving average (MA) of 120.33, above the 50-day MA of 124.27, and above the 200-day MA of 144.00, indicating a bearish trend. The MACD of -2.05 indicates Positive momentum. The RSI at 39.56 is Neutral, neither overbought nor oversold. The STOCH value of 39.93 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:IEX.
Indian Energy Exchange Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | ₹102.28B | 25.04 | ― | 3.23% | 14.10% | 19.23% | |
67 Neutral | ₹19.74B | 13.44 | ― | 0.33% | -7.85% | -11.22% | |
65 Neutral | ₹233.95B | 56.57 | ― | 0.82% | 3.63% | -11.24% | |
65 Neutral | ₹136.16B | 67.67 | ― | ― | 12.17% | 19.00% | |
65 Neutral | ₹206.86B | 19.80 | ― | 1.88% | -12.65% | -42.72% | |
55 Neutral | $13.29B | 17.42 | 10.03% | 0.93% | 7.13% | -12.93% | |
55 Neutral | ₹94.42B | 9.45 | ― | 1.37% | -19.77% | -11.03% |
* Services Sector Average
IN:IEX
Indian Energy Exchange Ltd.
114.70
-59.80
-34.27%
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Indian Energy Exchange Ltd. Corporate Events
Indian Energy Exchange Schedules Virtual Meet With Eastbridge Capital
Mar 20, 2026
Indian Energy Exchange Ltd. has announced the schedule of an upcoming interaction with market participants, stating it will hold a one-on-one virtual meeting with Eastbridge Capital on March 25, 2026. The company emphasized that no unpublished pri...
Indian Energy Exchange Schedules Analyst and Institutional Investor Meetings
Mar 19, 2026
Indian Energy Exchange Ltd. has announced a schedule of meetings with analysts and institutional investors, including Aequitas Investments and Prusik Investment Management, to be held on March 20 and March 24, 2026 in virtual and in-person formats...
Indian Energy Exchange Board Clears Q3 FY26 Results, Declares Interim Dividend
Jan 29, 2026
Indian Energy Exchange Ltd. has reported that its board has approved the standalone and consolidated unaudited financial results for the quarter ended 31 December 2025 at its meeting held on 29 January 2026, with the results to be made available o...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
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This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.