Indian Energy Exchange Ltd. (IEX) AI Stock Analysis

• Market Cap: ₹132.86B
• Dividend Yield: 3.02%
• Average Volume (3M): 370.44K
• Price to Earnings (P/E): 29.2
• Beta (1Y): 1.69
• Revenue Growth: 18.51%
• EPS Growth: 22.17%
• Country: IN
• Employees: 170
• Sector: Services
• Sector Strength: N/A
• Industry: Financial - Capital Markets
• EPS (TTM): 1.30
• Shares Outstanding: 891,692,750
• 10 Day Avg. Volume: 382,942
• 30 Day Avg. Volume: 370,445
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹120.00
• Price Target Upside: -19.46% Downside
• Rating Consensus: Moderate Sell
• Number of Analyst Covering: 3

• Rating: 65 Neutral
• Price Target: ₹156.00 ▲(4.70% Upside)

Indian Energy Exchange Ltd. is supported by a strong financial foundation with solid profitability and efficient cash flow management. However, bearish technical indicators weigh heavily on the stock, reflecting negative market sentiment. The valuation is fair, providing some support, but not enough to overcome the current technical weaknesses. The absence of earnings call and corporate event data limits further insights.

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 Market, a physical electricity trading market for deliveries for any/some/all 15 minute time blocks in 24 hours of next day starting from midnight; Term-Ahead-Market that provides a range of products allowing participants to buy/sell electricity on intra-day, day-ahead contingency, and term ahead contracts; Real-Time Market, an auction session every half an hour with power to be delivered after 4 time blocks or an hour after gate closure of the auction; Renewable Energy Certificates to ease the purchase of renewable energy by the state utilities and obligated entities; Green Day-Ahead Market, a double-sided closed collective auction in renewable energy on a day-ahead basis; Cross-Border Electricity Trade, an endeavour towards building an integrated South Asian Power Market; and Energy Saving Certificates, a market-based instrument designed for the consumers in energy industries, such as aluminum, cement, thermal Power plant, distribution, utilities, refineries, railways, fertilizer, and iron and steel etc. Indian Energy Exchange Limited was incorporated in 2007 and is based in New Delhi, India.

How the Company Makes Money

IEX makes money primarily through transaction fees charged on the trades executed on its platform. The company earns revenue by taking a small percentage of the transaction value as a fee from both buyers and sellers of electricity and other energy products. Additionally, IEX generates income from membership fees charged to participants who register to trade on its platform. The company also benefits from value-added services and partnerships with various stakeholders in the energy sector, including government bodies and regulatory agencies, which help enhance its service offerings and expand its market reach.

Indian Energy Exchange Ltd. Financial Statement Overview

Summary

Indian Energy Exchange Ltd. demonstrates strong profitability with high margins and robust revenue growth. The balance sheet is stable with low debt and a high return on equity, while cash flow management is efficient, showing strong liquidity. Monitoring liabilities and future capital expenditures will be essential for sustaining long-term stability.

Income Statement

Indian Energy Exchange Ltd. demonstrates strong profitability with consistently high gross profit and net profit margins, reaching 100% and 65.28% respectively in the latest TTM. The company also shows robust revenue growth, with a 19.34% increase from the previous year, indicating positive market demand and effective operational strategies. The EBIT and EBITDA margins are notably high at 92.98% and 87.28%, reflecting strong operational efficiency. These factors contribute to a solid income statement performance, albeit with a need to monitor future competitive pressures that could impact margins.

Balance Sheet

The balance sheet of Indian Energy Exchange Ltd. is marked by a healthy equity base, with an equity ratio of 51.73%, indicating financial stability and a strong asset base. The debt-to-equity ratio is low at 0.0054, minimizing financial risk. The company's return on equity is impressive at 37.77%, showcasing efficient management of shareholder investments. However, there is a noticeable increase in liabilities over the years, which should be monitored to prevent potential leverage risks.

Cash Flow

Indian Energy Exchange Ltd. exhibits strong cash flow management with significant free cash flow growth of 48.05% over the past year, providing a solid foundation for reinvestment and shareholder returns. The operating cash flow to net income ratio is nearly 1:1, reflecting robust cash generation relative to earnings. The free cash flow to net income ratio is also strong at 0.98, indicating efficient conversion of net income to cash. Overall, the cash flow statement reflects excellent liquidity management, although future capital expenditures should be closely watched.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	5.37B	6.57B	5.51B	4.01B	4.31B	3.18B
Gross Profit	4.58B	6.57B	5.50B	3.66B	3.89B	2.73B
EBITDA	5.81B	5.74B	4.89B	4.10B	4.23B	2.89B
Net Income	4.29B	4.29B	3.51B	3.06B	3.09B	2.06B
Balance Sheet
Total Assets	21.97B	21.97B	17.74B	14.53B	16.96B	9.85B
Cash, Cash Equivalents and Short-Term Investments	12.91B	12.91B	10.19B	7.55B	13.73B	7.02B
Total Debt	61.55M	61.55M	103.63M	140.97M	100.09M	117.31M
Total Liabilities	10.60B	10.60B	8.01B	6.54B	9.93B	4.29B
Stockholders Equity	11.36B	11.36B	9.72B	7.99B	7.03B	5.26B
Cash Flow
Free Cash Flow	0.00	4.19B	2.83B	-316.43M	7.51B	2.85B
Operating Cash Flow	0.00	4.27B	2.98B	-226.18M	7.62B	3.06B
Investing Cash Flow	0.00	-1.96B	-244.98M	702.64M	-4.48B	-1.96B
Financing Cash Flow	0.00	-2.72B	-1.83B	-2.15B	-1.36B	-771.22M

Indian Energy Exchange Ltd. Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 149.00
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:IEX, the sentiment is Neutral. The current price of 149 is above the 20-day moving average (MA) of 143.84, below the 50-day MA of 153.05, and below the 200-day MA of 173.22, indicating a neutral trend. The MACD of -0.34 indicates Negative momentum. The RSI at 56.60 is Neutral, neither overbought nor oversold. The STOCH value of 67.79 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:IEX.

Indian Energy Exchange Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CHOICEIN	73 Outperform	166.55B	92.91	15.84%	―	15.46%	26.05%
CDSL	66 Neutral	330.64B	67.09	29.90%	0.79%	18.35%	3.14%
ANGELONE	66 Neutral	205.46B	20.56	20.85%	2.12%	2.09%	-21.52%
MONARCH	66 Neutral	26.84B	16.43	18.73%	0.30%	6.10%	-6.37%
IEX	65 Neutral	₹132.86B	29.22		3.02%	18.51%	22.17%
EDELWEISS	60 Neutral	112.53B	26.20	9.01%	1.26%	-4.82%	-7.73%
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%

Indian Energy Exchange Ltd. Corporate Events

Indian Energy Exchange Reports Strong Financial Performance for FY 2025

Indian Energy Exchange Ltd. has published its financial results for the quarter and year ending March 31, 2025, showing a significant increase in total income and net profit compared to the previous year. The Board of Directors has recommended a final dividend of Rs.1.5 per equity share, reflecting the company’s strong financial performance and commitment to delivering value to its shareholders.