Indian Energy Exchange Ltd (IEX): Intrinsic Value & Share Price Analysis

Share Price and Basic Stock Data

Last Updated: December 20, 2025, 4:09 pm

Market Cap	12,609 Cr.
Current Price	141
High / Low	215/130
Stock P/E	28.0
Book Value	13.5
Dividend Yield	2.12 %
ROCE	53.6 %
ROE	40.5 %
Face Value	1.00
PEG Ratio	3.32

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

Stock P/E Current Price Intrinsic Value

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

Competitors

Stock Name ⇩	Market Cap ⇩	Current Price ⇩	High / Low ⇩	Stock P/E ⇩	Book Value ⇩	Dividend Yield ⇩	ROCE ⇩	ROE ⇩	Face Value ⇩
Indian Energy Exchange Ltd (IEX)	12,609 Cr.	141	215/130	28.0	13.5	2.12 %	53.6 %	40.5 %	1.00
BSE Ltd	1,09,352 Cr.	2,685	3,030/1,227	60.8	128	0.22 %	46.6 %	36.0 %	2.00
Industry Average	60,980.50 Cr	1,413.00		44.40	70.75	1.17%	50.10%	38.25%	1.50

All Competitor Stocks of Indian Energy Exchange Ltd (IEX)

Quarterly Result

Metric	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025
Sales	98	95	100	107	104	109	115	121	124	139	131	141	140
Expenses	17	16	17	14	22	16	15	16	24	19	18	19	26
Operating Profit	81	79	83	93	82	92	100	105	100	120	113	122	114
OPM %	82%	83%	83%	87%	78%	85%	87%	86%	81%	86%	86%	86%	81%
Other Income	15	19	17	23	23	24	26	28	31	29	29	31	43
Interest	1	1	1	1	1	1	1	1	1	1	1	1	1
Depreciation	4	5	5	5	5	5	5	5	5	5	5	5	5
Profit before tax	91	92	95	110	99	111	120	127	125	143	135	147	150
Tax %	25%	24%	25%	25%	25%	25%	25%	25%	25%	26%	24%	24%	25%
Net Profit	69	70	71	83	74	83	89	95	93	106	103	112	113
EPS in Rs	0.76	0.78	0.79	0.93	0.83	0.93	1.00	1.07	1.05	1.19	1.16	1.26	1.27

Last Updated: August 1, 2025, 7:30 pm

Below is a detailed analysis of the quarterly data for Indian Energy Exchange Ltd (IEX) based on the most recent figures (Jun 2025) and their trends compared to the previous period:

For Sales, as of Jun 2025, the value is 140.00 Cr.. The value appears to be declining and may need further review. It has decreased from 141.00 Cr. (Mar 2025) to 140.00 Cr., marking a decrease of 1.00 Cr..
For Expenses, as of Jun 2025, the value is 26.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 19.00 Cr. (Mar 2025) to 26.00 Cr., marking an increase of 7.00 Cr..
For Operating Profit, as of Jun 2025, the value is 114.00 Cr.. The value appears to be declining and may need further review. It has decreased from 122.00 Cr. (Mar 2025) to 114.00 Cr., marking a decrease of 8.00 Cr..
For OPM %, as of Jun 2025, the value is 81.00%. The value appears to be declining and may need further review. It has decreased from 86.00% (Mar 2025) to 81.00%, marking a decrease of 5.00%.
For Other Income, as of Jun 2025, the value is 43.00 Cr.. The value appears strong and on an upward trend. It has increased from 31.00 Cr. (Mar 2025) to 43.00 Cr., marking an increase of 12.00 Cr..
For Interest, as of Jun 2025, the value is 1.00 Cr.. The value remains steady. There is no change compared to the previous period (Mar 2025) which recorded 1.00 Cr..
For Depreciation, as of Jun 2025, the value is 5.00 Cr.. The value remains steady. There is no change compared to the previous period (Mar 2025) which recorded 5.00 Cr..
For Profit before tax, as of Jun 2025, the value is 150.00 Cr.. The value appears strong and on an upward trend. It has increased from 147.00 Cr. (Mar 2025) to 150.00 Cr., marking an increase of 3.00 Cr..
For Tax %, as of Jun 2025, the value is 25.00%. The value appears to be increasing, which may not be favorable. It has increased from 24.00% (Mar 2025) to 25.00%, marking an increase of 1.00%.
For Net Profit, as of Jun 2025, the value is 113.00 Cr.. The value appears strong and on an upward trend. It has increased from 112.00 Cr. (Mar 2025) to 113.00 Cr., marking an increase of 1.00 Cr..
For EPS in Rs, as of Jun 2025, the value is 1.27. The value appears strong and on an upward trend. It has increased from 1.26 (Mar 2025) to 1.27, marking an increase of 0.01.

Overall, while many items appear to show a positive trend, any significant downward movement warrant further investigation.

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: December 15, 2025, 5:12 am

Metric	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	174	176	170	199	230	254	257	317	426	401	449	535	565
Expenses	38	41	45	55	46	51	53	58	60	64	71	80	84
Operating Profit	136	136	125	143	185	203	204	259	366	337	379	455	481
OPM %	78%	77%	74%	72%	80%	80%	80%	82%	86%	84%	84%	85%	85%
Other Income	0	0	25	34	26	40	40	40	52	73	102	119	137
Interest	0	0	0	0	0	1	2	2	2	2	3	3	2
Depreciation	3	3	3	3	10	10	15	16	16	19	20	21	22
Profit before tax	133	132	147	174	200	232	228	282	400	389	457	550	593
Tax %	31%	32%	32%	35%	34%	29%	22%	24%	24%	25%	25%	25%
Net Profit	92	90	100	114	132	165	178	213	303	293	341	415	450
EPS in Rs	1.12	1.10	1.16	1.31	1.45	1.81	1.98	2.38	3.37	3.28	3.83	4.65	5.05
Dividend Payout %	9%	88%	72%	113%	50%	0%	42%	56%	74%	30%	65%	64%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2014-2015	2015-2016	2016-2017	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024	2024-2025
YoY Net Profit Growth (%)	-2.17%	11.11%	14.00%	15.79%	25.00%	7.88%	19.66%	42.25%	-3.30%	16.38%	21.70%
Change in YoY Net Profit Growth (%)	0.00%	13.29%	2.89%	1.79%	9.21%	-17.12%	11.78%	22.59%	-45.55%	19.68%	5.32%

Indian Energy Exchange Ltd (IEX) has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:	12%
5 Years:	16%
3 Years:	8%
TTM:	18%

Compounded Profit Growth
10 Years:	18%
5 Years:	20%
3 Years:	12%
TTM:	20%

Stock Price CAGR
10 Years:	%
5 Years:	18%
3 Years:	-4%
1 Year:	-32%

Return on Equity
10 Years:	42%
5 Years:	41%
3 Years:	39%
Last Year:	41%

Last Updated: September 5, 2025, 7:05 am

Balance Sheet

Last Updated: December 10, 2025, 2:50 am

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital	27	27	29	29	30	30	30	30	90	89	89	89	89
Reserves	223	210	168	248	254	340	360	502	612	695	859	1,009	1,111
Borrowings	6	3	2	2	0	0	14	12	10	14	10	6	4
Other Liabilities	113	166	226	276	291	335	264	384	983	640	791	1,053	631
Total Liabilities	369	406	424	554	574	706	668	927	1,695	1,439	1,749	2,157	1,835
Fixed Assets	10	14	11	8	119	111	119	115	110	110	101	87	91
CWIP	0	0	0	1	1	1	1	6	5	4	3	4	1
Investments	247	254	281	383	268	475	514	710	1,247	1,204	1,310	1,597	1,615
Other Assets	111	137	131	162	186	118	35	96	333	120	336	469	127
Total Assets	369	406	424	554	574	706	668	927	1,695	1,439	1,749	2,157	1,835

Below is a detailed analysis of the balance sheet data for Indian Energy Exchange Ltd (IEX) based on the most recent figures (Sep 2025) and their trends compared to the previous period:

For Equity Capital, as of Sep 2025, the value is 89.00 Cr.. The value remains steady. There is no change compared to the previous period (Mar 2025) which recorded 89.00 Cr..
For Reserves, as of Sep 2025, the value is 1,111.00 Cr.. The value appears strong and on an upward trend. It has increased from 1,009.00 Cr. (Mar 2025) to 1,111.00 Cr., marking an increase of 102.00 Cr..
For Borrowings, as of Sep 2025, the value is 4.00 Cr.. The value appears to be improving (decreasing). Additionally, since Reserves exceed Borrowings, this is considered a positive sign. It has decreased from 6.00 Cr. (Mar 2025) to 4.00 Cr., marking a decrease of 2.00 Cr..
For Other Liabilities, as of Sep 2025, the value is 631.00 Cr.. The value appears to be improving (decreasing). It has decreased from 1,053.00 Cr. (Mar 2025) to 631.00 Cr., marking a decrease of 422.00 Cr..
For Total Liabilities, as of Sep 2025, the value is 1,835.00 Cr.. The value appears to be improving (decreasing). It has decreased from 2,157.00 Cr. (Mar 2025) to 1,835.00 Cr., marking a decrease of 322.00 Cr..
For Fixed Assets, as of Sep 2025, the value is 91.00 Cr.. The value appears strong and on an upward trend. It has increased from 87.00 Cr. (Mar 2025) to 91.00 Cr., marking an increase of 4.00 Cr..
For CWIP, as of Sep 2025, the value is 1.00 Cr.. The value appears to be declining and may need further review. It has decreased from 4.00 Cr. (Mar 2025) to 1.00 Cr., marking a decrease of 3.00 Cr..
For Investments, as of Sep 2025, the value is 1,615.00 Cr.. The value appears strong and on an upward trend. It has increased from 1,597.00 Cr. (Mar 2025) to 1,615.00 Cr., marking an increase of 18.00 Cr..
For Other Assets, as of Sep 2025, the value is 127.00 Cr.. The value appears to be declining and may need further review. It has decreased from 469.00 Cr. (Mar 2025) to 127.00 Cr., marking a decrease of 342.00 Cr..
For Total Assets, as of Sep 2025, the value is 1,835.00 Cr.. The value appears to be declining and may need further review. It has decreased from 2,157.00 Cr. (Mar 2025) to 1,835.00 Cr., marking a decrease of 322.00 Cr..

Notably, the Reserves (1,111.00 Cr.) exceed the Borrowings (4.00 Cr.), indicating a solid financial buffer.

Overall, while many items appear to show a positive trend, any significant downward movement or items where Borrowings exceed Reserves warrant further investigation.

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity +	76	92	89	206	131	138	128	304	788	-22	300	430
Cash from Investing Activity +	-90	24	-23	-21	-33	-62	-5	-194	-473	70	-26	-199
Cash from Financing Activity +	-8	-106	-70	-109	-126	-78	-161	-77	-136	-215	-183	-272
Net Cash Flow	-22	10	-4	76	-29	-2	-38	33	179	-167	91	-41

Free Cash Flow

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Free Cash Flow	130.00	133.00	123.00	141.00	185.00	203.00	190.00	247.00	356.00	323.00	369.00	449.00

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

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	1	1	2	0	0	66	0	4	75	6	1	1
Inventory Days
Days Payable
Cash Conversion Cycle	1	1	2	0	0	66	0	4	75	6	1	1
Working Capital Days	-197	-335	-384	-494	-322	-371	-326	-388	-733	-540	-501	-487
ROCE %	61%	48%	67%	64%	66%	66%	56%	59%	62%	49%	52%	54%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
FIIs	15.49%	17.88%	17.28%	14.12%	13.37%	10.89%	11.66%	15.66%	16.24%	16.13%	18.53%	13.20%
DIIs	21.73%	21.53%	21.11%	22.61%	26.34%	27.24%	31.24%	31.48%	32.78%	34.15%	34.12%	36.43%
Public	62.49%	60.32%	61.33%	62.98%	60.01%	61.57%	56.82%	52.59%	50.72%	49.47%	47.07%	50.11%
Others	0.27%	0.28%	0.28%	0.28%	0.28%	0.28%	0.28%	0.28%	0.28%	0.27%	0.27%	0.27%
No. of Shareholders	17,12,825	16,30,991	16,32,597	16,01,518	15,18,597	15,98,631	15,13,307	14,72,727	14,39,967	14,13,444	13,88,447	14,38,943

Shareholding Pattern Chart

No. of Shareholders

Indian Energy Exchange Ltd (IEX): Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund Name	No of Shares	AUM (%)	Amount Invested (Cr)	Previous Number of Shares	Previous Date	Percentage Change
Parag Parikh Flexi Cap Fund	80,755,676	0.87	1124.85	44,206,584	2025-12-08 07:03:54	82.68%
ICICI Prudential India Opportunities Fund	26,366,062	1.08	367.25	15,657,089	2025-12-08 07:03:54	68.4%
SBI Small Cap Fund	21,509,115	0.83	299.6	21,509,115	2025-04-22 14:12:25	0%
SBI Contra Fund	11,172,975	0.31	155.63	11,172,975	2025-04-22 15:56:57	0%
Mirae Asset Large Cap Fund	9,497,548	0.32	132.29	17,300,483	2025-12-08 07:03:54	-45.1%
Canara Robeco Small Cap Fund	8,978,161	0.96	125.06	7,359,095	2025-12-08 07:03:54	22%
SBI Flexicap Fund	8,000,000	0.47	111.43	N/A	N/A	N/A
SBI Infrastructure Fund	7,500,000	2.19	104.47	10,000,000	2025-05-25 00:04:50	-25%
ICICI Prudential Banking and Financial Services	7,234,465	0.91	100.77	5,652,542	2025-12-08 07:03:54	27.99%
ICICI Prudential Business Cycle Fund	6,054,745	0.54	84.34	4,009,745	2025-12-08 07:03:54	51%

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 25	Mar 24	Mar 23	Mar 22	Mar 21
FaceValue	1.00	1.00	1.00	1.00	1.00
Basic EPS (Rs.)	4.83	3.94	3.42	3.45	6.91
Diluted EPS (Rs.)	4.83	3.94	3.42	3.45	6.90
Cash EPS (Rs.)	4.89	4.04	3.49	3.61	7.44
Book Value[Excl.RevalReserv]/Share (Rs.)	12.75	10.91	8.97	7.83	18.62
Book Value[Incl.RevalReserv]/Share (Rs.)	12.75	10.91	8.97	7.83	18.62
Revenue From Operations / Share (Rs.)	6.03	5.04	4.50	4.80	10.65
PBDIT / Share (Rs.)	6.44	5.37	4.60	4.64	9.68
PBIT / Share (Rs.)	6.20	5.14	4.39	4.45	9.13
PBT / Share (Rs.)	6.17	5.11	4.36	4.50	9.06
Net Profit / Share (Rs.)	4.65	3.82	3.28	3.42	6.88
NP After MI And SOA / Share (Rs.)	4.82	3.94	3.43	3.44	6.90
PBDIT Margin (%)	106.79	106.54	102.18	96.74	90.92
PBIT Margin (%)	102.84	101.98	97.54	92.75	85.73
PBT Margin (%)	102.35	101.35	96.93	93.68	85.08
Net Profit Margin (%)	77.15	75.67	73.00	71.26	64.63
NP After MI And SOA Margin (%)	79.88	78.09	76.30	71.74	64.83
Return on Networth / Equity (%)	37.76	36.08	38.27	43.96	39.17
Return on Capital Employeed (%)	46.42	44.80	46.38	53.84	45.19
Return On Assets (%)	19.53	19.77	21.04	18.23	20.91
Asset Turnover Ratio (%)	0.27	0.27	0.25	0.31	0.39
Current Ratio (X)	1.57	1.58	1.26	1.54	1.93
Quick Ratio (X)	1.57	1.58	1.26	1.54	1.93
Dividend Payout Ratio (NP) (%)	31.16	25.42	0.00	0.00	36.33
Dividend Payout Ratio (CP) (%)	29.69	24.01	0.00	0.00	33.64
Earning Retention Ratio (%)	68.84	74.58	0.00	0.00	63.67
Cash Earning Retention Ratio (%)	70.31	75.99	0.00	0.00	66.36
Interest Coverage Ratio (X)	219.26	168.81	166.75	211.16	140.65
Interest Coverage Ratio (Post Tax) (X)	159.41	120.90	120.12	153.52	100.98
Enterprise Value (Cr.)	15535.33	11777.83	11329.63	19918.21	9863.02
EV / Net Operating Revenue (X)	28.92	26.22	28.26	46.21	31.03
EV / EBITDA (X)	27.08	24.61	27.66	47.76	34.13
MarketCap / Net Operating Revenue (X)	29.13	26.64	28.42	46.75	31.26
Retention Ratios (%)	68.83	74.57	0.00	0.00	63.66
Price / BV (X)	13.77	12.31	14.26	28.65	18.89
Price / Net Operating Revenue (X)	29.13	26.64	28.43	46.75	31.26
EarningsYield	0.02	0.02	0.02	0.01	0.02

After reviewing the key financial ratios for Indian Energy Exchange Ltd (IEX), here is a detailed analysis based on the latest available data and recent trends:

For FaceValue, as of Mar 25, the value is 1.00. This value is within the healthy range. There is no change compared to the previous period (Mar 24) which recorded 1.00.
For Basic EPS (Rs.), as of Mar 25, the value is 4.83. This value is below the healthy minimum of 5. It has increased from 3.94 (Mar 24) to 4.83, marking an increase of 0.89.
For Diluted EPS (Rs.), as of Mar 25, the value is 4.83. This value is below the healthy minimum of 5. It has increased from 3.94 (Mar 24) to 4.83, marking an increase of 0.89.
For Cash EPS (Rs.), as of Mar 25, the value is 4.89. This value is within the healthy range. It has increased from 4.04 (Mar 24) to 4.89, marking an increase of 0.85.
For Book Value[Excl.RevalReserv]/Share (Rs.), as of Mar 25, the value is 12.75. It has increased from 10.91 (Mar 24) to 12.75, marking an increase of 1.84.
For Book Value[Incl.RevalReserv]/Share (Rs.), as of Mar 25, the value is 12.75. It has increased from 10.91 (Mar 24) to 12.75, marking an increase of 1.84.
For Revenue From Operations / Share (Rs.), as of Mar 25, the value is 6.03. It has increased from 5.04 (Mar 24) to 6.03, marking an increase of 0.99.
For PBDIT / Share (Rs.), as of Mar 25, the value is 6.44. This value is within the healthy range. It has increased from 5.37 (Mar 24) to 6.44, marking an increase of 1.07.
For PBIT / Share (Rs.), as of Mar 25, the value is 6.20. This value is within the healthy range. It has increased from 5.14 (Mar 24) to 6.20, marking an increase of 1.06.
For PBT / Share (Rs.), as of Mar 25, the value is 6.17. This value is within the healthy range. It has increased from 5.11 (Mar 24) to 6.17, marking an increase of 1.06.
For Net Profit / Share (Rs.), as of Mar 25, the value is 4.65. This value is within the healthy range. It has increased from 3.82 (Mar 24) to 4.65, marking an increase of 0.83.
For NP After MI And SOA / Share (Rs.), as of Mar 25, the value is 4.82. This value is within the healthy range. It has increased from 3.94 (Mar 24) to 4.82, marking an increase of 0.88.
For PBDIT Margin (%), as of Mar 25, the value is 106.79. This value is within the healthy range. It has increased from 106.54 (Mar 24) to 106.79, marking an increase of 0.25.
For PBIT Margin (%), as of Mar 25, the value is 102.84. This value exceeds the healthy maximum of 20. It has increased from 101.98 (Mar 24) to 102.84, marking an increase of 0.86.
For PBT Margin (%), as of Mar 25, the value is 102.35. This value is within the healthy range. It has increased from 101.35 (Mar 24) to 102.35, marking an increase of 1.00.
For Net Profit Margin (%), as of Mar 25, the value is 77.15. This value exceeds the healthy maximum of 10. It has increased from 75.67 (Mar 24) to 77.15, marking an increase of 1.48.
For NP After MI And SOA Margin (%), as of Mar 25, the value is 79.88. This value exceeds the healthy maximum of 20. It has increased from 78.09 (Mar 24) to 79.88, marking an increase of 1.79.
For Return on Networth / Equity (%), as of Mar 25, the value is 37.76. This value is within the healthy range. It has increased from 36.08 (Mar 24) to 37.76, marking an increase of 1.68.
For Return on Capital Employeed (%), as of Mar 25, the value is 46.42. This value is within the healthy range. It has increased from 44.80 (Mar 24) to 46.42, marking an increase of 1.62.
For Return On Assets (%), as of Mar 25, the value is 19.53. This value is within the healthy range. It has decreased from 19.77 (Mar 24) to 19.53, marking a decrease of 0.24.
For Asset Turnover Ratio (%), as of Mar 25, the value is 0.27. There is no change compared to the previous period (Mar 24) which recorded 0.27.
For Current Ratio (X), as of Mar 25, the value is 1.57. This value is within the healthy range. It has decreased from 1.58 (Mar 24) to 1.57, marking a decrease of 0.01.
For Quick Ratio (X), as of Mar 25, the value is 1.57. This value is within the healthy range. It has decreased from 1.58 (Mar 24) to 1.57, marking a decrease of 0.01.
For Dividend Payout Ratio (NP) (%), as of Mar 25, the value is 31.16. This value is within the healthy range. It has increased from 25.42 (Mar 24) to 31.16, marking an increase of 5.74.
For Dividend Payout Ratio (CP) (%), as of Mar 25, the value is 29.69. This value is within the healthy range. It has increased from 24.01 (Mar 24) to 29.69, marking an increase of 5.68.
For Earning Retention Ratio (%), as of Mar 25, the value is 68.84. This value is within the healthy range. It has decreased from 74.58 (Mar 24) to 68.84, marking a decrease of 5.74.
For Cash Earning Retention Ratio (%), as of Mar 25, the value is 70.31. This value exceeds the healthy maximum of 70. It has decreased from 75.99 (Mar 24) to 70.31, marking a decrease of 5.68.
For Interest Coverage Ratio (X), as of Mar 25, the value is 219.26. This value is within the healthy range. It has increased from 168.81 (Mar 24) to 219.26, marking an increase of 50.45.
For Interest Coverage Ratio (Post Tax) (X), as of Mar 25, the value is 159.41. This value is within the healthy range. It has increased from 120.90 (Mar 24) to 159.41, marking an increase of 38.51.
For Enterprise Value (Cr.), as of Mar 25, the value is 15,535.33. It has increased from 11,777.83 (Mar 24) to 15,535.33, marking an increase of 3,757.50.
For EV / Net Operating Revenue (X), as of Mar 25, the value is 28.92. This value exceeds the healthy maximum of 3. It has increased from 26.22 (Mar 24) to 28.92, marking an increase of 2.70.
For EV / EBITDA (X), as of Mar 25, the value is 27.08. This value exceeds the healthy maximum of 15. It has increased from 24.61 (Mar 24) to 27.08, marking an increase of 2.47.
For MarketCap / Net Operating Revenue (X), as of Mar 25, the value is 29.13. This value exceeds the healthy maximum of 3. It has increased from 26.64 (Mar 24) to 29.13, marking an increase of 2.49.
For Retention Ratios (%), as of Mar 25, the value is 68.83. This value is within the healthy range. It has decreased from 74.57 (Mar 24) to 68.83, marking a decrease of 5.74.
For Price / BV (X), as of Mar 25, the value is 13.77. This value exceeds the healthy maximum of 3. It has increased from 12.31 (Mar 24) to 13.77, marking an increase of 1.46.
For Price / Net Operating Revenue (X), as of Mar 25, the value is 29.13. This value exceeds the healthy maximum of 3. It has increased from 26.64 (Mar 24) to 29.13, marking an increase of 2.49.
For EarningsYield, as of Mar 25, the value is 0.02. This value is below the healthy minimum of 5. There is no change compared to the previous period (Mar 24) which recorded 0.02.

Overall, while many metrics show healthy performance, any figures highlighted in red or significant downward trends warrant further investigation.

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Indian Energy Exchange Ltd (IEX) as of December 21, 2025 is: 125.07

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 December 21, 2025, Indian Energy Exchange Ltd (IEX) is Overvalued by 11.30% compared to the current share price 141.00

Intrinsic Value of Indian Energy Exchange Ltd (IEX) as of December 21, 2025 is: 135.61

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 December 21, 2025, Indian Energy Exchange Ltd (IEX) is Overvalued by 3.82% compared to the current share price 141.00

Last 5 Year EPS CAGR: 8.43%

*Investments are subject to market risks

Strength and Weakness

Strength	Weakness
The stock has a high average ROCE of 58.67%, which is a positive sign. The stock has a low average Working Capital Days of -423.17, which is a positive sign. The company has higher reserves (507.00 cr) compared to borrowings (6.38 cr), indicating strong financial stability. The company has shown consistent growth in sales (319.46 cr) and profit (301.31 cr) over the years.	The stock has a high average Cash Conversion Cycle of 13.08, 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: 77.15%
  - 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: 46.42% (Industry Average ROCE: 50.1%)
  - 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%: 37.76% (Industry Average ROE: 38.25%)
  - 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): 159.41
  - 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: 1.57
  - 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: 28 (Industry average Stock P/E: 44.4)
  - 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. 535.37 Cr. and Equity Capital is Rs. 89.09 Cr. for the Year ended 31/03/2025.

INDUSTRY	ADDRESS	CONTACT
Exchanges	C/o.Avanta Business Centre, First Floor, Unit No. 1.14(a) New Delhi Delhi 110017	compliance@iexindia.com http://www.iexindia.com

Management
Name	Position Held
Mr. Satyanarayan Goel	Chairman & Managing Director
Mr. Amit Garg	Non Executive Director
Mr. Gautam Dalmia	Non Executive Director
Mr. Tejpreet Singh Chopra	Independent Director
Ms. Sudha Pillai	Independent Director
Mr. Pradeep Kumar Pujari	Independent Director
Mr. Rajeev Gupta	Independent Director
Mr. Rohit Bajaj	Joint Managing Director

FAQ

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

Indian Energy Exchange Ltd (IEX)'s intrinsic value (as of 20 December 2025) is 125.07 which is 11.30% lower the current market price of 141.00, indicating overvalued. Calculated using the PE ratio method, this valuation considers the company's 12,609 Cr. market cap, FY2025-2026 high/low of 215/130, reserves of ₹1,111 Cr, and liabilities of 1,835 Cr.

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

The Market Cap of Indian Energy Exchange Ltd (IEX) is 12,609 Cr..

What is the current Stock Price of Indian Energy Exchange Ltd (IEX) as on 20 December 2025?

The current stock price of Indian Energy Exchange Ltd (IEX) as on 20 December 2025 is 141.

What is the High / Low of Indian Energy Exchange Ltd (IEX) stocks in FY 2025-2026?

In FY 2025-2026, the High / Low of Indian Energy Exchange Ltd (IEX) stocks is 215/130.

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

The Stock P/E of Indian Energy Exchange Ltd (IEX) is 28.0.

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

The Book Value of Indian Energy Exchange Ltd (IEX) is 13.5.

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

The Dividend Yield of Indian Energy Exchange Ltd (IEX) is 2.12 %.

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

The ROCE of Indian Energy Exchange Ltd (IEX) is 53.6 %.

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

The ROE of Indian Energy Exchange Ltd (IEX) is 40.5 %.

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

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