MarketFriction

Indian Energy Exchange Ltd

NSE IEX · BSE 540750 · Exchange and Data Platform
₹105.98 -0.95%
NSE close2026-10-01
52 week range106.35 - 160.27
Market cap₹9,487 Cr.
P/E19.5
Nifty 500Smallcap 250 No price band Delivery 40.8%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Standalone, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales109115121124139131141140152144172156
Expenses161516241918192620242526
Operating Profit92100105100120113122114132120148130
OPM %85%87%86%81%86%86%86%81%87%84%86%83%
Other Income242628312929314334372245
Interest111111111111
Depreciation555555556666
Profit before tax111120127125143135147150160151163168
Tax %25%25%25%25%26%24%24%25%24%24%24%25%
Net Profit83899593106103112113122115124127
EPS in Rs0.931.001.071.051.191.161.261.271.361.291.391.42
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales170199230254257317426401449535608624
Expenses455546515358606471809594
Operating Profit125143185203204259366337379455514530
OPM %74%72%80%80%80%82%86%84%84%85%84%85%
Other Income2534264040405273102119137139
Interest000122223322
Depreciation3310101516161920212324
Profit before tax147174200232228282400389457550625643
Tax %32%35%34%29%22%24%24%25%25%25%24%
Net Profit100114132165178213303293341415474487
EPS in Rs1.161.311.451.811.982.383.373.283.834.655.315.46
Dividend Payout %72%113%50%0%42%56%74%30%65%64%66%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth14%14%15%13%
Compounded Profit Growth17%18%20%12%
Stock Price CAGR%-12%-7%-24%
Return on Equity42%40%40%39%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital272929303030309089898989
Reserves2101682482543403605026126958591,0091,218
Borrowings322001412101410611
Other Liabilities1662262762913352643849836407911,0531,059
Total Liabilities4064245545747066689271,6951,4391,7492,1572,377
Fixed Assets141181191111191151101101018797
CWIP001111654345
Investments2542813832684755147101,2471,2041,3101,5971,936
Other Assets1371311621861183596333120336469339
Total Assets4064245545747066689271,6951,4391,7492,1572,377
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity9289206131138128304788-22300430425
Cash from Investing Activity24-23-21-33-62-5-194-47370-26-199-223
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/OP99%108%186%99%98%87%142%244%21%107%123%113%
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%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
FIIs14.12%13.37%10.89%11.66%15.66%16.24%16.13%18.53%13.20%11.42%14.16%12.63%
DIIs22.61%26.34%27.24%31.24%31.48%32.78%34.15%34.12%36.43%34.95%30.26%31.47%
Public62.98%60.01%61.57%56.82%52.59%50.72%49.47%47.07%50.11%53.37%55.31%55.63%
Others0.28%0.28%0.28%0.28%0.28%0.28%0.27%0.27%0.27%0.27%0.27%0.27%
No. of Shareholders16,01,51815,18,59715,98,63115,13,30714,72,72714,39,96714,13,44413,88,44714,38,94314,07,54614,09,80613,96,607

Fundamentals

Market Cap₹ 9,487 Cr.
Current Price₹ 106
Stock P/E19.5
Book Value₹ 14.6
ROCE51.8 %
ROE39.4 %
Dividend Yield3.29 %
Face Value₹ 1.00
Compounded Sales Growth (TTM)13%
Compounded Profit Growth (TTM)12%
Standalone figures.
Valuation
Market capRs 9,450 Cr
Enterprise valueRs 9,357 Cr
P/E (TTM)19.39x
Price to book7.23x
Price to sales15.14x
EV / EBITDA13.99x
EV / EBIT14.50x
EV / sales14.99x
Price to cash flow22.25x
Earnings yield5.16%
Dividend yield3.30%
P/E, 3-year average31.50x
P/B, 3-year average11.58x
P/E, 5-year average40.00x
P/B, 5-year average15.59x
Profitability
Operating margin (excl. other income)84.46%
Operating margin (incl. other income)106.90%
EBITDA margin107.16%
Pre-tax margin102.94%
Net profit margin78.06%
Net margin, latest quarter81.25%
ROE39.40%
ROCE51.79%
ROA20.90%
ROE, 3-year average39.78%
ROCE, 3-year average52.57%
ROA, 3-year average21.18%
ROE, 5-year average41.56%
ROCE, 5-year average54.70%
ROA, 5-year average21.06%
ROIC (approx.)40.31%
Tax rate24.18%
Other income / net worth10.45%
Growth
Sales growth (latest year)13.64%
Profit growth (latest year)14.24%
Sales CAGR, 3 years14.92%
Sales CAGR, 5 years13.92%
Profit CAGR, 3 years17.41%
Profit CAGR, 5 years17.28%
Sales growth QoQ-9.47%
Profit growth QoQ2.20%
Sales growth YoY (latest quarter)11.39%
Profit growth YoY (latest quarter)12.08%
Per share
EPS (TTM)Rs 5.47
EPS (latest year)Rs 5.31
EPS (latest quarter)Rs 1.42
EPS, 3-year averageRs 4.60
EPS, 5-year averageRs 4.09
Book value per shareRs 14.65
Sales per shareRs 7.00
Cash flow per shareRs 4.76
Free cash flow per shareRs 4.60
Dividend per share (latest year)Rs 3.50
Dividend per share, 3-year averageRs 3.00
Dividend per share, 5-year averageRs 2.50
Dividends
Dividend payout65.83%
Dividend payout, 3-year average65.17%
Dividend payout, 5-year average60.03%
Efficiency
Asset turnover0.26x
Fixed asset turnover6.30x
Debtor days1 days
Debtors turnover498.68x
Cash conversion cycle1 days
Working capital days-475 days
Leverage
Total debtRs 11 Cr
Cash and bankRs 104 Cr
Net debtRs -93 Cr
Debt to equity0.01x
Net debt / EBITDA-0.14x
Interest coverage261.20x
Current ratio (filing 2026-03-31)1.99x
Quick ratio (filing 2026-03-31)1.99x
Trade payables (filing 2026-03-31)Rs 4 Cr
Owners' fund to total sources54.98%
Debt to assets0.47%
Cash flow
Cash from Operating Activity (latest year)Rs 425 Cr
Cash from Investing Activity (latest year)Rs -223 Cr
Cash from Financing Activity (latest year)Rs -272 Cr
Net Cash Flow (latest year)Rs -70 Cr
Free cash flow (latest year)Rs 410 Cr
FCFE (approx.: FCF + change in debt)Rs 415 Cr
Cash from ops / profit, 5 years1.05x
Sales to cash flow1.43x
Statement figures
Net sales (TTM)Rs 624 Cr
Net sales (latest year)Rs 608 Cr
Sales (latest quarter)Rs 156 Cr
Operating profit excl. other income (latest year)Rs 514 Cr
Operating profit (latest quarter)Rs 130 Cr
Other income (TTM)Rs 139 Cr
EBITDA (TTM)Rs 669 Cr
PBDT (TTM)Rs 667 Cr
Profit before tax (TTM)Rs 643 Cr
Tax (latest year)Rs 151 Cr
Net profit (TTM)Rs 487 Cr
Net profit (latest year)Rs 474 Cr
Net profit (latest quarter)Rs 127 Cr
Depreciation (TTM)Rs 24 Cr
Depreciation (latest quarter)Rs 6 Cr
Interest (TTM)Rs 2 Cr
Cost of goods sold (latest year)Rs 15 Cr
Total expenditure (latest year)Rs 95 Cr
Total income (latest year)Rs 745 Cr
Share capitalRs 89 Cr
ReservesRs 1,218 Cr
Shareholders' fundsRs 1,307 Cr
Total assetsRs 2,377 Cr
Net blockRs 97 Cr
Capital work in progressRs 5 Cr
InvestmentsRs 1,936 Cr
ReceivablesRs 1 Cr
Other liabilitiesRs 1,059 Cr
Shares outstanding (crore)89.17
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 19.4 is the lowest in its own 9.1-year history (median 39.4, low 19.4, high 105.6).
P/B 7.23 is the lowest in 9.1 years (median 16.67).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodIEXNifty 50Difference
1 week-4.7%-2.8% -1.9 pts
1 month-11.1%-6.8% -4.3 pts
3 months-14.5%-7.6% -6.9 pts
6 months-7.6%+0.4% -8.0 pts
1 year-24.2%-9.9% -14.3 pts
2 years-55.7%-13.6% -42.2 pts
3 years-19.8%+14.2% -34.0 pts
5 years-48.7%+27.9% -76.6 pts
90 mutual fund schemes hold about ₹2,560 Cr. Over three months 63 bought more and 8 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
Parag Parikh Flexi Cap Fund0.69%1,013 +10%
ICICI Pru India Opp Fund0.57%220 +10%
SBI Contra Fund0.28%135 +12%
Kotak Arbitrage Fund(M0.17%133 +7%
SBI Multi Asset Allocation Fund(A0.49%102 +4%
HDFC Arbitrage Fund(M0.36%91 +82%
Old Bridge Focused Fund2.24%89 -5%
Mirae Asset Large Cap Fund0.22%85 +1%
SBI Energy Opportunities Fund0.83%69 +18%
Tata Arbitrage Fund0.23%57 +42%
Parag Parikh ELSS Tax Saver Fund0.85%48 +12%
ICICI Pru Business Cycle Fund0.29%46 +15%
HSBC Arbitrage Fund(M1.37%45 +138%
ICICI Pru Energy Opportunities Fund0.51%42 +14%
Aditya Birla SL Arbitrage Fund0.14%38 +20%
Bandhan Arbitrage Fund(M0.43%34 +2%
Bandhan Arbitrage Fund0.43%34 +2%
ICICI Pru Arbitrage Fund0.08%29 +70%
SBI Arbitrage Fund0.06%29 +2%
Tata Nifty Capital Markets Index Fund2.18%21 +12%
SBI Comma Fund1.61%20 +5%
Edelweiss Arbitrage Fund0.12%18 +34%
Nippon India Nifty Smallcap 250 Index Fund0.43%15 +9%
Motilal Oswal Nifty Capital Market Index Fund2.17%15 +12%
DSP Arbitrage Fund0.17%11 +41%

Red flags

F-score 5 of 8
No red flags in the latest statements and filings.
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹156 Cr +11.4% vs Jun 2025. Net profit ₹127 Cr +12.4%.
Against our estimate for Jun 2026: sales -3.9%, profit -2.3% miss. Our estimate for Sep 2026: sales Rs 177 Cr, profit Rs 142 Cr (how).

Activity

Compare
CompanyMcap (Cr)P/EROCE
National Stock Exchange Of India Ltd437,90249.040.6 %
BSE Ltd130,52346.160.0 %
Multi Commodity Exchange of India Ltd82,41353.471.4 %
No bulk or block deals on record.
Ex-dateActionFactor
2026-05-15Dividend - Rs 2 Per Share
2026-02-04Interim Dividend - Rs 1.50 Per Share
2025-05-16Dividend - Rs 1.50 Per Share
2025-01-31Interim Dividend - Rs 1.50 Per Share
2024-07-29Annual General Meeting
2024-05-31Dividend - Rs 1.50 Per Share
2024-02-02Interim Dividend - Re 1 Per Share
2023-08-28Annual General Meeting
2023-07-28Dividend - Re 1 Per Share
2022-08-24Annual General Meeting
2022-08-11Dividend - Re 1 Per Share
2022-02-03Interim Dividend - Re 1 Per Share
2021-12-03 Bonus 2:10.3333
2021-08-25 Annual General Meeting
2021-08-18 Dividend - Rs 1.50 Per Share
2021-01-28 Interim Dividend - Rs 2.50 Per Share
2020-08-20 Annual General Meeting
2020-03-19 Interim Dividend - Rs 2.50 Per Share
2019-09-09 Annual General Meeting
2019-02-14 Buy Back
2018-10-19 Face Value Split (Sub-Division) - From Rs 10/- Per Share To Re 1/- Per Share0.1000
2018-09-10 Annual General Meeting/Dividend Rs 22 Per Share
DateTypeWhat it says
2026-09-28Press ReleaseA press release dated September 28, 2026, titled "IEX EXPANDS ITS ENERGY MARKETS FOOTPRINT: SUBSIDIARY INDIAN COAL EXCHANGE LTD APPLIES FOR LICENCE WI...
2026-09-25Concall / analyst meetSchedule of meet
2026-09-25General UpdatesGeneral Updates about Submission of Application by Wholly Owned Subsidiary of the Company to the Coal Controller Organisation for Registration as a C...
2026-09-10Shareholder meetingWebcast of 20th Annual General Meeting of Indian Energy Exchange Limited held on September 09, 2026.
2026-09-09Shareholder meetingVoting results.
2026-09-09Shareholder meetingProceedings of Annual General Meeting held on September 09, 2026
2026-09-03Press ReleaseA press release dated September 03, 2026, titled "IEX POWER MARKET UPDATE, AUGUST 26".
2026-08-21Concall / analyst meetSchedule of meet
2026-08-17Concall / analyst meetSchedule of meet
2026-08-14Shareholder meetingNotice of Annual General Meeting to be held on September 09, 2026
2026-08-13Change in ManagementChange in Management about the appointment of Mr. Alok Kumar Jha as the Head-Business Development (Senior Vice President) categorized as the Senior Ma...
2026-08-04Press ReleaseA press release dated August 04, 2026, titled "IEX PowerMarket Update, July 26".
2026-07-31Concall / analyst meetTranscript
2026-07-27Concall / analyst meetSchedule of meet
2026-07-24Concall / analyst meetLink of Recording
2026-07-24Investor PresentationInvestor Presentation
2026-07-23Press ReleaseA press release dated July 23, 2026, titled "IEX Unaudited Financial Results for the Quarter ended June 30, 2026".
2026-07-23Board meeting outcomeIndian Energy Exchange Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-15Concall / analyst meetSchedule of meet Annual Analyst Meet and Quarterly Earnings Call Q1FY27- IEX.
2026-07-15UpdatesFiling of DRHP of Indian Gas Exchange Limited , An Associate Company of Indian Energy Exchange Limited, with SEBI & BSE on July 14, 2026..
2026-07-03Press ReleaseA press release dated July 03, 2026, titled "IEX PowerMarket Update, Q1FY 27 and June 26".
2026-06-23Concall / analyst meetSchedule of meet
2026-06-12Concall / analyst meetSchedule of meet
2026-06-03Press ReleaseA press release dated Jun 03, 2026, titled "IEX Power Market Update,May26".
2026-06-01Concall / analyst meetSchedule of meet
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
Put / call open interest0.82
Max pain (expiry 2026-10-27)112
Largest call open interest at110
Largest put open interest at105
Implied volatility, at the money33.6%
Underlying at snapshot105.98
Open interest by strike around the price, nearest expiry. End-of-day NSE snapshot, 01-Oct-2026 15:40:00. Max pain is the strike where option buyers together would lose the most at expiry.
Trade dateShares sold short
2026-09-30251
2026-09-29108,699
2026-09-28270
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Derivative contracts in the scrip to be moved out of F and O

Quick answers

What is the market cap of Indian Energy Exchange Ltd?

Indian Energy Exchange Ltd (IEX) has a market capitalisation of Rs 9,487 Cr. at the 2026-10-01 close.

What is the P/E ratio of Indian Energy Exchange Ltd?

Indian Energy Exchange Ltd trades at a P/E of 19.5 on trailing twelve-month profit, at the 2026-10-01 close.

What were Indian Energy Exchange Ltd's latest quarterly results?

In the Jun 2026 quarter, Indian Energy Exchange Ltd sales was Rs 156 Cr (+11.4% vs Jun 2025) and net profit was Rs 127 Cr.

What is the 52-week high and low of Indian Energy Exchange Ltd?

The 52-week high is Rs 160.27 and the 52-week low is Rs 106.35.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03