Arthneeti

Indian Energy Exchange Q2 FY27 Share Price & Earnings Call Analysis

₹100.90-4.22% today
Market cap
₹8,997 Cr
P/E
18.47
ROE
39.40%
PEG
0.93
Price to sales
14.41
Debt to equity
0.01
52W high / low
₹155 / ₹101
Sales growth (5Y)
13.92%
EBITDA margin
84.91%
Net profit margin
77.86%
Sales (last year)
₹624 Cr

Incorporated in 2007, Indian Energy Exchange Ltd provides an automated platform and infrastructure for carrying out trading in electricity units for physical delivery of electricity[1]

Guidance scorecard · Q2 FY27 call

What Indian Energy Ex's management guided
and where it ranks in Capital Markets

Revenue10–20%MarginsFlatCapexPlannedFundraisingWhat management saidOrder bookWhat management said

RevenueQ4 FY26 call

10–20%
  • IEX expects to maintain volume growth of 15% to 20% annually, supported by new capacity additions and increasing demand.
  • FY26 electricity volume rose 17% YoY to 141 billion units, with RTM volumes growing 41% and green market volumes up 23% YoY, indicating strong growth momentum.
  • Growth depends on external demand-supply factors outside the exchange's control.
  • Participation in green energy and renewable segments is increasing, contributing to volume growth.

2 more points from Indian Energy Ex's call on revenue

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Full Q4 FY26 analysis

MarginsQ4 FY26 call

Flat

See what Indian Energy Ex said on margins — free account, 30 seconds.

Full Q4 FY26 analysis

CapexQ4 FY26 call

Planned

Ask what Indian Energy Ex said on capex →

Full Q4 FY26 analysis

FundraisingQ4 FY26 call

See what Indian Energy Ex said on fundraising — free account, 30 seconds.

Full Q4 FY26 analysis

Order bookQ4 FY26 call

  • It references ongoing capacity additions and demand increases supporting volume growth of 15-20% annually.
  • The company is involved in new projects like Battery Energy Storage Systems (BESS) with tenders awarded for 30 GW under the second tranche, indicating a healthy pipeline.
  • The first merchant BESS trades have begun, showing early commercialization.
  • SECI tender under Contract for Difference (CfD) pilot indicates potential for increased battery capacity sales (e.g., 500 MW for 3-hour periods).
Full Q4 FY26 analysis
Full Capital Markets ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Capital Markets
on management's own guidance

  1. Nippon Life Ind.Good growth
    2
  2. BSEGood growth
    1
  3. Motil.Oswal.Fin.Good growth
    3
See all potential multibaggersWhere does Indian Energy Ex rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Capital Markets companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
1BSE20–40%Flat₹1.37L Cr48.4
2Nippon Life Ind.20–40%Flat₹68,184 Cr41.6
3Motil.Oswal.Fin.20–40%Flat₹63,771 Cr32.2
420–40%Flat₹31,481 Cr29.1
520–40%Flat₹15,334 Cr43.8
620–40%Flat₹12,638 Cr51.6

Sign up free to see every company in the sector ranking and track Indian Energy Ex.

Pro shows every company guiding 40%+ revenue growth →Full Capital Markets ranking

Financials of Indian Energy Ex

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Shareholder Pattern

Indian Energy Ex

Shareholding breakup across reporting periods.

Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
FIIs +13.37%10.89%11.66%15.66%16.24%16.13%18.53%13.20%11.42%14.16%12.63%12.02%
DIIs +26.34%27.24%31.24%31.48%32.78%34.15%34.12%36.43%34.95%30.26%31.47%31.79%
Public +60.01%61.57%56.82%52.59%50.72%49.47%47.07%50.11%53.37%55.31%55.63%55.93%
Others +0.28%0.28%0.28%0.28%0.28%0.27%0.27%0.27%0.27%0.27%0.27%0.27%
No. of Shareholders15,18,59715,98,63115,13,30714,72,72714,39,96714,13,44413,88,44714,38,94314,07,54614,09,80613,96,60714,31,943

Financials of Indian Energy Ex

Quarterly Results

Quarter-by-quarter operating performance

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales +109115121124139131141140152144172156165
Expenses +16151624191819262024252625
Operating Profit92100105100120113122114132120148130140
OPM %85%87%86%81%86%86%86%81%87%84%86%83%85%
Other Income +24262831292931433437224542
Interest1111111111111
Depreciation5555555566666
Profit before tax111120127125143135147150160151163168174
Tax %25%25%25%25%26%24%24%25%24%24%24%25%24%
Net Profit +83899593106103112113122115124127133
EPS in Rs0.931.001.071.051.191.161.261.271.361.291.391.421.49

Financials of Indian Energy Ex

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales +176170199230254257317426401449535608637
Expenses +41455546515358606471809599
Operating Profit136125143185203204259366337379455514538
OPM %77%74%72%80%80%80%82%86%84%84%85%84%84%
Other Income +02534264040405273102119137146
Interest0000122223323
Depreciation33310101516161920212324
Profit before tax132147174200232228282400389457550625657
Tax %32%32%35%34%29%22%24%24%25%25%25%24%
Net Profit +90100114132165178213303293341415474499
EPS in Rs1.101.161.311.451.811.982.383.373.283.834.655.315.59
Dividend Payout %88%72%113%50%0%42%56%74%30%65%64%66%

Financials of Indian Energy Ex

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Sep 2026
Equity Capital27292930303030908989898989
Reserves2101682482543403605026126958591,0091,2181,299
Borrowings +3220014121014106119
Other Liabilities +1662262762913352643849836407911,0531,0591,151
Total Liabilities4064245545747066689271,6951,4391,7492,1572,3772,548
Fixed Assets +14118119111119115110110101879792
CWIP0011116543450
Investments2542813832684755147101,2471,2041,3101,5971,9362,170
Other Assets +1371311621861183596333120336469339286
Total Assets4064245545747066689271,6951,4391,7492,1572,3772,548

Financials of Indian Energy Ex

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +9289206131138128304788-22300430425
Cash from Investing Activity +24-23-21-33-62-5-194-47370-26-199-223
Cash from Financing Activity +-106-70-109-126-78-161-77-136-215-183-272-272
Net Cash Flow10-476-29-2-3833179-16791-41-70
Free Cash Flow858720511135123288777-31287422410
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit99%108%186%99%98%87%142%244%21%107%123%113%

Financials of Indian Energy Ex

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days12006604756111
Inventory Days
Days Payable
Cash Conversion Cycle12006604756111
Working Capital Days-335-384-494-322-371-326-388-733-540-501-487-475
ROCE %48%67%64%66%66%56%59%62%49%52%54%52%

Guidance history

How Indian Energy Ex's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q4 FY26 call →10–20%FlatPlanned——
Q3 FY26 call →10–20%FlatPlanned——
Q2 FY26 call →10–20%Flat———

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

11out of 100

Momentum score · price trend

11 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months−29.7%24%
Last 6 months−19.4%22%
Last 3 months−23.7%13%

The price is 65.8% below its all-time high of ₹295.25 (10 Dec 2021). Stocks more than 20% below their peak have their score halved, so 21 became 11.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Indian Energy Ex: 0.4 × 24 + 0.4 × 22 + 0.2 × 13 = 21, halved to 11 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 30 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Continue your research

What Indian Energy Ex's management said in earlier quarters

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