Indian Energy Exchange Ltd - Stock Valuation and Financial Performance

BSE: 540750 | NSE: IEX | Power Generation/Distribution | Small Cap

Indian Energy Exch Share Price

177.45 -7.45 -4.03%
as on 20-Dec'24 16:59

DeciZen - make an informed investing decision on Indian Energy Exch

Overall Rating
Bole Toh

1. Quality

2. Valuation

Somewhat overvalued

3. Price Trend

Semi Strong

Indian Energy Exchange stock performance -

mw4me loader
P/E Ratio (SA):
41.21
Market Cap:
15,823.1 Cr.
52-wk low:
129.2
52-wk high:
244.4

Is Indian Energy Exchange Ltd an attractive stock to invest in?

1. Is Indian Energy Exchange Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Indian Energy Exchange Ltd is a good quality company.

2. Is Indian Energy Exchange Ltd undervalued or overvalued?

The key valuation ratios of Indian Energy Exchange Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.

3. Is Indian Energy Exchange Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Indian Energy Exchange Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Indian Energy Exch:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Indian Energy Exchange Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Value Creation Index Colour Code Guide

Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24TTM
ROCE % 60.7%74.4%73.2%71.3%71.1%60.3%61.6%65.1%52.6%53.1%-
Value Creation
Index
3.54.54.44.14.13.53.63.82.92.9-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 145175199230254257317426401449499
Sales YoY Gr.-20.9%13.5%16%10.3%1.2%23.4%34.2%-5.8%12.1%-
Adj EPS 11.21.11.31.71.92.33.33.13.74.3
YoY Gr.-18.4%-1.7%17.5%26.1%11.8%23.3%40.8%-4.9%18%-
BVPS (₹) 2.42.33.23.144.35.87.78.610.511.4
Adj Net
Profit
80.110098.1121153169209294278327384
Cash Flow from Ops. 91.988.6206131138128304788-22.5300-
Debt/CF from Ops. 0000000000-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 13.4%12.1%12.3%12.1%
Adj EPS 15.8%16.8%16.5%18%
BVPS18%21.1%21.7%21.4%
Share Price - 30.3% -10.2% 20.6%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24TTM
Return on
Equity %
36.850.741.243.246.844.545.447.737.437.839.5
Op. Profit
Mgn %
71.971.572.280.279.879.681.885.98484.385.1
Net Profit
Mgn %
55.457.249.452.660.365.865.969.269.372.977
Debt to
Equity
00000000000
Working Cap
Days
4054084384892914115517184403
Cash Conv.
Cycle
-690-871-2,011-1,262-1,009-708-741-2,539-3,304-2,769161

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 12.30%

Net Profit is growing at healthy rate in last 3 years 16.46%

Sales growth is good in last 4 quarters at 18.84%

Return on Equity has declined versus last 3 years average to 39.50%

Latest Financials - Indian Energy Exchange Ltd.

Standalone Consolidated
TTM EPS (₹) 4.3 4.4
TTM Sales (₹ Cr.) 499 500
BVPS (₹.) 11.4 11.7
Reserves (₹ Cr.) 1,042 955
P/BV 15.59 15.15
PE 41.21 40.24
From the Market
52 Week Low / High (₹) 129.15 / 244.35
All Time Low / High (₹) 37.02 / 318.72
Market Cap (₹ Cr.) 15,823
Equity (₹ Cr.) 89.2
Face Value (₹) 1
Industry PE 27.6

Management X-Ray of Indian Energy Exch:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Indian Energy Exch

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Sales145175199230254257317426401449
Operating Expenses 41505546515358606471
Manufacturing Costs1111111111
Material Costs0000000000
Employee Cost 10121524253339373538
Other Costs 30373920251918222931
Operating Profit 104125143185203204259366336378
Operating Profit Margin (%) 71.9%71.5%72.2%80.2%79.8%79.6%81.8%85.9%83.9%84.3%
Other Income 322534264040405273102
Interest 0000122223
Depreciation 33310101516161920
Exceptional Items 0000000000
Profit Before Tax 133147174200232228282400389457
Tax 424660686750689796115
Profit After Tax 90100114132165178213303293341
PAT Margin (%) 62.5%57.2%57.2%57.1%65.0%69.2%67.3%71.1%73.0%76.0%
Adjusted EPS (₹)1.01.11.31.51.82.02.43.43.33.8
Dividend Payout Ratio (%)128%81%115%50%0%42%56%59%30%65%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24

Equity and Liabilities

Shareholders Fund 197198278284363381520688768932
Share Capital 30303030303030908989
Reserves 166168248253333352490598679843
Minority Interest0000000000
Debt0000000000
Long Term Debt0000000000
Short Term Debt0000000000
Trade Payables35591728513476165635402563
Others Liabilities 298336334489208211243372268255
Total Liabilities 5295937848577066689271,6951,4391,749

Fixed Assets

Gross Block232412132134157164175193201
Accumulated Depreciation9123132338496583101
Net Fixed Assets14118119111119115110110101
CWIP 0011116543
Investments 2542763832684755147101,2471,2041,310
Inventories0000000000
Trade Receivables0100460387786
Cash Equivalents 839112811468277723364185
Others Assets1772132633555715134964
Total Assets 5295937848577066689271,6951,4391,749

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Cash Flow From Operating Activity 9289206131138128304788-22300
PBT 133147174200232228282400389457
Adjustment -28-21-30-15-28-22-18-30-49-77
Changes in Working Capital 299123-2-5-29105521-26926
Tax Paid -42-46-61-52-60-49-65-103-93-106
Cash Flow From Investing Activity 24-23-21-33-62-5-194-47370-26
Capex -6-2-1-120-4-5-16-11-9-13
Net Investments 18-49-3583-66-1-180-47271-36
Others 122815482210823
Cash Flow From Financing Activity -106-70-109-126-78-161-77-136-215-183
Net Proceeds from Shares 0000002210
Net Proceeds from Borrowing 0000000000
Interest Paid 00000-1-2-2-1-1
Dividend Paid -65-58-90-105-66-75-75-135-90-178
Others -40-12-19-21-12-85-3-2-125-4
Net Cash Flow 10-476-29-2-3833179-16791
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Ratios
ROE (%)42.1351.324847.0251.0147.7747.3750.140.2140.17
ROCE (%)60.6674.4273.1671.2671.160.3261.665.1252.6253.06
Asset Turnover Ratio0.30.310.290.280.330.370.40.320.260.28
PAT to CFO Conversion(x)1.020.891.810.990.840.721.432.6-0.080.88
Working Capital Days
Receivable Days111033332394338
Inventory Days0000000000
Payable Days0000000000

Indian Energy Exchange Ltd Stock News

Indian Energy Exchange Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Indian Energy Exch on 20-Dec-2024 16:59 is ₹177.4.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 20-Dec-2024 16:59 the market cap of Indian Energy Exch stood at ₹15,823.1.
The latest P/E ratio of Indian Energy Exch as of 20-Dec-2024 16:59 is 41.21.
The latest P/B ratio of Indian Energy Exch as of 20-Dec-2024 16:59 is 15.59.
The 52-week high of Indian Energy Exch is ₹244.3 and the 52-week low is ₹129.2.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Indian Energy Exch is ₹499.4 ( Cr.) .

About Indian Energy Exchange Ltd

Indian Energy Exchange Limited (IEX) is the first and largest energy exchange in India providing a nationwide, automated trading platform for physical delivery of electricity, Renewable Energy Certificates and Energy Saving Certificates. The exchange platform enables efficient price discovery and increases the accessibility and transparency of the power market in India while also enhancing the speed and efficiency of trade execution.

The Exchange is a publicly listed company with NSE and BSE. IEX is approved and regulated by Central Electricity Regulatory Commission (CERC) and has been operating since June 27, 2008. In August 2016, IEX received three ISO Certifications - ISO 9001:2015 for quality management, ISO 27001:2013 for Information security management and ISO 14001:2015 for environment management.

Business area of the company

The IEX is a Power Exchange, licensed by the Central Electricity Regulatory Commission (CERC) for spot trading in power / electricity and trading of Renewal Energy Certificate (REC) and Energy Saving Certificates (ESCerts). The main activity of the company is to provide an automated platform and infrastructure for carrying out t trading in electricity units for physical delivery of electricity.

Product Segments

  • Day-Ahead Market (DAM)
  • Term-Ahead Market (TAM)
  • Renewable Energy Certificates (REC)
  • Energy Saving Certificates (ESCerts)
  • Real Time Market
  • Green Term-Ahead Market

Awards and accolades

  • IEX is respected as an industry leader and statesman, reflected in growing recognition.
  • Best E-Enabled Consumer Platform -2009 Council of Power Utilities
  • Best Performing Power Trading Company/ Exchange -2012, 2013 Power line
  • Best Power Exchange in India - 2012, 2013 and 2014 Enertia Foundation
  • Innovators in Product and Technology - 2013 Inc. India
  • Exchange of the Year - 2014 Power Business View
  • Best Power Exchange -2014 India Power Award (Council of Power Utilities)
  • Leaders in Power Market Development - 2015 Council of Power Utilities
  • Best IPO Award (Midcap Category) - 2018 Investor Relations Society (Partnered with BNY Mellon & Bloomberg)
  • Best CFO Award in 100- 500 turnover category - 2018 The Financial Express
  • Best Power Exchange in India- First view intelligence award in 2019

Milestones

  • 2008: Launched Day Ahead Market (DAM)
  • 2008: Commenced Operations with 58 participants
  • 2008: Daily cleared volume in DAM - 20 million units
  • 2009: Registered first Open Access Consumer (OA)
  • 2009: Introduced Term Ahead Market (TAM)
  • 2010: Registered participants in DAM crossed 500
  • 2011: Introduced Renewable Energy Certificate (REC) in the market
  • 2011: Traded first non-solar REC
  • 2012: Introduced 15mins contract in DAM
  • 2012: First solar REC trade
  • 2012: Signed MOU with PJM Technologies
  • 2013: Signed MOU with EPEX SPOT (France)
  • 2015: Launched round the clock TAM
  • 2016: First Indian energy exchange to get ISO certification
  • 2017: Launched Energy Saving Certificate
  • 2017: Publically listed its securities
  • 2018: Signed MOU with JPEX (Japan)
  • 2018: Daily cleared volume in DAM crossed all time high
  • 2019: Highest DAM vols in a day reached 306 MU
  • 2020: Launched two new bid types and TAM contract enhancements
  • 2020: Signed MOU with Power Ledger, Australia
  • 2020: Incorporated Indian Gas Exchange (wholly owned subsidiary of IEX)
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