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Last Updated on: 24 November, 2024
Author: Getaka|Social: Getaka Financial Services X (Earlier Twitter) Profile Getaka Financial Services LinkedIn Logo
Stock Ticker - BSE: 540750 | NSE: IEX

Indian Energy Exchange Ltd (IEX): Intrinsic Value and Fundamental Analysis

Share Price and Basic Stock Data

Last Updated: November 22, 2024, 11:07 pm

Market Cap 14,552 Cr.
Current Price 163
High / Low244/129
Stock P/E37.9
Book Value 11.4
Dividend Yield1.53 %
ROCE50.0 %
ROE37.7 %
Face Value 1.00
PEG Ratio3.38

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Indian Energy Exchange Ltd (IEX)

Competitors of Indian Energy Exchange Ltd (IEX)

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Indian Energy Exchange Ltd (IEX) 14,552 Cr. 163244/12937.9 11.41.53 %50.0 %37.7 % 1.00
BSE Ltd 63,897 Cr. 4,7204,990/1,94177.6 2740.32 %20.0 %15.2 % 2.00
Industry Average39,224.50 Cr2,441.5057.75142.700.93%35.00%26.45%1.50

All Competitor Stocks of Indian Energy Exchange Ltd (IEX)

Quarterly Result

MonthJun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
Sales901091141129895100107104109115121124
Expenses14131617171617142216151624
Operating Profit77969895817983938292100105100
OPM %85%88%86%85%82%83%83%87%78%85%87%86%81%
Other Income12121216151917232324262831
Interest1000111111111
Depreciation4444455555555
Profit before tax8410310610791929511099111120127125
Tax %24%24%25%24%25%24%25%25%25%25%25%25%25%
Net Profit64788081697071837483899593
EPS in Rs0.710.870.890.900.760.780.790.930.830.931.001.071.05

Last Updated: Unknown

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: October 9, 2024, 10:20 am

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024TTM
Sales138174176170199230254257317426401449469
Expenses34384145554651535860647172
Operating Profit104136136125143185203204259366337379397
OPM %75%78%77%74%72%80%80%80%82%86%84%84%85%
Other Income-6002534264040405273102109
Interest0000001222233
Depreciation633331010151616192021
Profit before tax93133132147174200232228282400389457483
Tax %29%31%32%32%35%34%29%22%24%24%25%25%
Net Profit669290100114132165178213303293341361
EPS in Rs0.811.121.101.161.311.451.811.982.383.373.283.834.05
Dividend Payout %8%9%88%72%113%50%0%42%56%59%30%65%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-2024
YoY Net Profit Growth (%)39.39%-2.17%11.11%14.00%15.79%25.00%7.88%19.66%42.25%-3.30%16.38%
Change in YoY Net Profit Growth (%)0.00%-41.57%13.29%2.89%1.79%9.21%-17.12%11.78%22.59%-45.55%19.68%

Indian Energy Exchange Ltd (IEX) has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2013-2014 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:10%
5 Years:12%
3 Years:12%
TTM:19%
Compounded Profit Growth
10 Years:14%
5 Years:16%
3 Years:16%
TTM:23%
Stock Price CAGR
10 Years:%
5 Years:28%
3 Years:-14%
1 Year:15%
Return on Equity
10 Years:42%
5 Years:42%
3 Years:40%
Last Year:38%

Last Updated: Unknown

Balance Sheet

Last Updated: November 14, 2024, 11:31 pm

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Sep 2024
Equity Capital27272729293030303090898989
Reserves141223210168248254340360502612695859926
Borrowings363220014121014108
Other Liabilities111113166226276291335264384983640791677
Total Liabilities2823694064245545747066689271,6951,4391,7491,700
Fixed Assets12101411811911111911511011010195
CWIP0000111165431
Investments1892472542813832684755147101,2471,2041,3101,470
Other Assets811111371311621861183596333120336133
Total Assets2823694064245545747066689271,6951,4391,7491,700

Reserves and Borrowings Chart

Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity +76769289206131138128304788-22300
Cash from Investing Activity +-69-9024-23-21-33-62-5-194-47370-26
Cash from Financing Activity +-7-8-106-70-109-126-78-161-77-136-215-183
Net Cash Flow-0-2210-476-29-2-3833179-16791

Free Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Free Cash Flow101.00130.00133.00123.00141.00185.00203.00190.00247.00356.00323.00369.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Debtor Days111200660475670
Inventory Days
Days Payable
Cash Conversion Cycle111200660475670
Working Capital Days-208-191-335-384-494-322-371-323-386-732-536-498
ROCE %72%61%48%67%64%66%66%56%59%62%49%50%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthSep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
FIIs37.74%31.01%27.07%20.77%15.79%15.49%17.88%17.28%14.12%13.37%10.89%11.66%
DIIs23.13%17.66%19.48%21.65%22.39%21.73%21.53%21.11%22.61%26.34%27.24%31.24%
Public38.81%51.02%53.15%57.29%61.54%62.49%60.32%61.33%62.98%60.01%61.57%56.82%
Others0.31%0.31%0.29%0.29%0.27%0.27%0.28%0.28%0.28%0.28%0.28%0.28%
No. of Shareholders4,06,21412,19,82314,73,38616,44,73417,13,91317,12,82516,30,99116,32,59716,01,51815,18,59715,98,63115,13,307

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Parag Parikh Flexi Cap Fund44,206,5841.15900.1821,509,1152024-11-23105.52%
SBI Small Cap Fund21,509,1151.32437.9921,509,1152024-11-230%
Mirae Asset Large Cap Fund18,129,7030.89369.1821,509,1152024-11-23-15.71%
SBI Magnum Midcap Fund12,000,0001.14244.3621,509,1152024-11-23-44.21%
SBI Contra Fund11,172,9750.58227.5221,509,1152024-11-23-48.05%
SBI Infrastructure Fund10,000,0004.25203.6321,509,1152024-11-23-53.51%
SBI Flexi Cap Fund8,000,0000.71162.921,509,1152024-11-23-62.81%
HDFC Arbitrage Fund - Regular Plan7,290,0000.94148.4521,509,1152024-11-23-66.11%
HDFC Arbitrage Fund - Wholesale Plan7,290,0000.94148.4521,509,1152024-11-23-66.11%
Kotak Equity Arbitrage Fund - Regular Plan4,998,7500.19101.7921,509,1152024-11-23-76.76%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue1.001.001.001.001.00
Basic EPS (Rs.)3.943.423.456.915.89
Diluted EPS (Rs.)3.943.423.456.905.89
Cash EPS (Rs.)4.043.493.617.446.40
Book Value[Excl.RevalReserv]/Share (Rs.)10.918.977.8318.6213.00
Book Value[Incl.RevalReserv]/Share (Rs.)10.918.977.8318.6213.00
Revenue From Operations / Share (Rs.)5.044.504.8010.658.62
PBDIT / Share (Rs.)5.374.604.649.688.13
PBIT / Share (Rs.)5.144.394.459.137.62
PBT / Share (Rs.)5.114.364.509.067.56
Net Profit / Share (Rs.)3.823.283.426.885.89
NP After MI And SOA / Share (Rs.)3.943.433.446.905.89
PBDIT Margin (%)106.54102.1896.7490.9294.28
PBIT Margin (%)101.9897.5492.7585.7388.35
PBT Margin (%)101.3596.9393.6885.0887.74
Net Profit Margin (%)75.6773.0071.2664.6368.33
NP After MI And SOA Margin (%)78.0976.3071.7464.8368.33
Return on Networth / Equity (%)36.0838.2743.9639.1745.29
Return on Capital Employeed (%)44.8046.3853.8445.1952.60
Return On Assets (%)19.7721.0418.2320.9126.33
Asset Turnover Ratio (%)0.270.250.310.390.37
Current Ratio (X)1.581.261.541.931.46
Quick Ratio (X)1.581.261.541.931.46
Dividend Payout Ratio (NP) (%)25.420.000.0036.3342.61
Dividend Payout Ratio (CP) (%)24.010.000.0033.6439.21
Earning Retention Ratio (%)74.580.000.0063.6757.39
Cash Earning Retention Ratio (%)75.990.000.0066.3660.79
Interest Coverage Ratio (X)168.81166.75211.16140.65154.85
Interest Coverage Ratio (Post Tax) (X)120.90120.12153.52100.98113.24
Enterprise Value (Cr.)11777.8311329.6319918.219863.023787.92
EV / Net Operating Revenue (X)26.2228.2646.2131.0314.73
EV / EBITDA (X)24.6127.6647.7634.1315.62
MarketCap / Net Operating Revenue (X)26.6428.4246.7531.2614.84
Retention Ratios (%)74.570.000.0063.6657.38
Price / BV (X)12.3114.2628.6518.899.84
Price / Net Operating Revenue (X)26.6428.4346.7531.2614.84
EarningsYield0.020.020.010.020.04

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Indian Energy Exchange Ltd (IEX) as of November 24, 2024 is: 165.38

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of November 24, 2024, Indian Energy Exchange Ltd (IEX) is Undervalued by 1.46% compared to the current share price 163.00

Intrinsic Value of Indian Energy Exchange Ltd (IEX) as of November 24, 2024 is: 183.93

Calculation basis:

  • Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of November 24, 2024, Indian Energy Exchange Ltd (IEX) is Undervalued by 12.84% compared to the current share price 163.00

Last 5 Year EPS CAGR: 11.22%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The stock has a high average ROCE of 60.00%, which is a positive sign.
  2. The stock has a low average Working Capital Days of -398.33, which is a positive sign.
  3. The company has higher reserves (426.00 cr) compared to borrowings (6.46 cr), indicating strong financial stability.
  4. The company has shown consistent growth in sales (281.54 cr) and profit (257.69 cr) over the years.
  1. The stock has a high average Cash Conversion Cycle of 18.83, which may not be favorable.

Stock Analysis

  • Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in Indian Energy Exchange Ltd (IEX):
    1. Net Profit Margin: 75.67%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 44.8% (Industry Average ROCE: 35%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. ROE%: 36.08% (Industry Average ROE: 26.45%)
      • ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
    4. Interest Coverage Ratio (Post Tax): 120.9
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    5. Quick Ratio: 1.58
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    6. Stock P/E: 37.9 (Industry average Stock P/E: 57.75)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    7. Total Debt / Equity: 0
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
    Stock Rating:

About the Company - Qualitative Analysis

Indian Energy Exchange Ltd. is a Public Limited Listed company incorporated on 26/03/2007 and has its registered office in the State of Delhi, India. Company’s Corporate Identification Number(CIN) is L74999DL2007PLC277039 and registration number is 277039. Currently Company is involved in the business activities of Administration of financial markets. Company’s Total Operating Revenue is Rs. 425.55 Cr. and Equity Capital is Rs. 89.78 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
ExchangesFirst Floor, Unit No. 1.14(a) Avanta Business Centre, New Delhi Delhi 110017compliance@iexindia.com
http://www.iexindia.com
Management
NamePosition Held
Mr. Satyanarayan GoelChairman & Managing Director
Mr. Amit GargNon Executive Director
Mr. Gautam DalmiaNon Executive Director
Mr. Tejpreet Singh ChopraIndependent Director
Ms. Sudha PillaiIndependent Director
Mr. T K ChackoIndependent Director

FAQ

What is the latest intrinsic value of Indian Energy Exchange Ltd (IEX)?

The latest intrinsic value of Indian Energy Exchange Ltd (IEX) as on 24 November 2024 is ₹165.38, which is 1.46% higher than the current market price of ₹163.00.

What is the Market Cap of Indian Energy Exchange Ltd (IEX)?

The Market Cap of Indian Energy Exchange Ltd (IEX) is 14,552 Cr..

What is the current Stock Price of Indian Energy Exchange Ltd (IEX) as on 24 November 2024?

The current stock price of Indian Energy Exchange Ltd (IEX) as on 24 November 2024 is 163.

What is the High / Low of Indian Energy Exchange Ltd (IEX) stocks in FY 2024?

In FY 2024, the High / Low of Indian Energy Exchange Ltd (IEX) stocks is 244/129.

What is the Stock P/E of Indian Energy Exchange Ltd (IEX)?

The Stock P/E of Indian Energy Exchange Ltd (IEX) is 37.9.

What is the Book Value of Indian Energy Exchange Ltd (IEX)?

The Book Value of Indian Energy Exchange Ltd (IEX) is 11.4.

What is the Dividend Yield of Indian Energy Exchange Ltd (IEX)?

The Dividend Yield of Indian Energy Exchange Ltd (IEX) is 1.53 %.

What is the ROCE of Indian Energy Exchange Ltd (IEX)?

The ROCE of Indian Energy Exchange Ltd (IEX) is 50.0 %.

What is the ROE of Indian Energy Exchange Ltd (IEX)?

The ROE of Indian Energy Exchange Ltd (IEX) is 37.7 %.

What is the Face Value of Indian Energy Exchange Ltd (IEX)?

The Face Value of Indian Energy Exchange Ltd (IEX) is 1.00.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Indian Energy Exchange Ltd (IEX). Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE