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Last Updated: April 2, 2026, 3:06 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 540750 | NSE: IEX

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

Fair Value

₹104.01Overvalued by 13.33%vs CMP ₹120.00

P/E (23.2) × ROE (40.5%) × BV (₹13.50) × DY (2.50%)

₹60.83Overvalued by 49.31%vs CMP ₹120.00
MoS: -97.3% (Negative)Confidence: 63/100 (Moderate)Models: 1 Fair, 8 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹113.3522%Fair (-5.5%)
Graham NumberEarnings₹39.6716%Over (-66.9%)
Earnings PowerEarnings₹32.2413%Over (-73.1%)
DCFCash Flow₹82.6213%Over (-31.2%)
Net Asset ValueAssets₹13.467%Over (-88.8%)
EV/EBITDAEnterprise₹64.049%Over (-46.6%)
Earnings YieldEarnings₹51.807%Over (-56.8%)
ROCE CapitalReturns₹50.879%Over (-57.6%)
Revenue MultipleRevenue₹9.005%Over (-92.5%)
Consensus (9 models)₹60.83100%Overvalued
Key Drivers: Wide model spread (₹9–₹113) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 9.0%

*Investments are subject to market risks

Investment Snapshot

67
Indian Energy Exchange Ltd (IEX) scores 67/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health92/100 · Strong
ROCE 53.6% ExcellentROE 40.5% ExcellentD/E 0.00 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money45/100 · Moderate
FII holding down -4.71% (6mo) SellingDII holding up 0.80% MF buying
Earnings Quality50/100 · Moderate
OPM stable around 85% Steady
Quarterly Momentum68/100 · Strong
Revenue (4Q): +12% YoY GrowingProfit (4Q): +16% YoY Positive
Industry Rank60/100 · Moderate
P/E 23.2 vs industry 38.4 Cheaper than peersROCE 53.6% vs industry 50.1% Average3Y sales CAGR: 8% Slow

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:06 am

Market Cap 10,696 Cr.
Current Price 120
Intrinsic Value₹60.83
High / Low 215/114
Stock P/E23.2
Book Value 13.5
Dividend Yield2.50 %
ROCE53.6 %
ROE40.5 %
Face Value 1.00
PEG Ratio2.58

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

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) 10,696 Cr. 120 215/11423.2 13.52.50 %53.6 %40.5 % 1.00
BSE Ltd 1,16,797 Cr. 2,868 3,227/1,65953.5 1280.21 %46.6 %36.0 % 2.00
Industry Average63,746.50 Cr1,494.0038.3570.751.36%50.10%38.25%1.50

All Competitor Stocks of Indian Energy Exchange Ltd (IEX)

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 100107104109115121124139131141140152144
Expenses 17142216151624191819262024
Operating Profit 83938292100105100120113122114132120
OPM % 83%87%78%85%87%86%81%86%86%86%81%87%84%
Other Income 17232324262831292931433437
Interest 1111111111111
Depreciation 5555555555566
Profit before tax 9511099111120127125143135147150160151
Tax % 25%25%25%25%25%25%25%26%24%24%25%24%24%
Net Profit 71837483899593106103112113122115
EPS in Rs 0.790.930.830.931.001.071.051.191.161.261.271.361.29

Last Updated: February 5, 2026, 1:46 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 24, 2026, 12:46 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 174176170199230254257317426401449535577
Expenses 38414555465153586064718089
Operating Profit 136136125143185203204259366337379455488
OPM % 78%77%74%72%80%80%80%82%86%84%84%85%85%
Other Income 002534264040405273102119145
Interest 0000012222332
Depreciation 3333101015161619202122
Profit before tax 133132147174200232228282400389457550609
Tax % 31%32%32%35%34%29%22%24%24%25%25%25%
Net Profit 9290100114132165178213303293341415462
EPS in Rs 1.121.101.161.311.451.811.982.383.373.283.834.655.18
Dividend Payout % 9%88%72%113%50%0%42%56%74%30%65%64%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
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

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 27272929303030309089898989
Reserves 2232101682482543403605026126958591,0091,111
Borrowings 632200141210141064
Other Liabilities 1131662262762913352643849836407911,053631
Total Liabilities 3694064245545747066689271,6951,4391,7492,1571,835
Fixed Assets 10141181191111191151101101018791
CWIP 0001111654341
Investments 2472542813832684755147101,2471,2041,3101,5971,615
Other Assets 1111371311621861183596333120336469127
Total Assets 3694064245545747066689271,6951,4391,7492,1571,835

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 769289206131138128304788-22300430
Cash from Investing Activity + -9024-23-21-33-62-5-194-47370-26-199
Cash from Financing Activity + -8-106-70-109-126-78-161-77-136-215-183-272
Net Cash Flow -2210-476-29-2-3833179-16791-41
Free Cash Flow 76858720511135123288777-31287422
CFO/OP 88%99%108%186%99%98%87%142%244%21%107%123%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow130.00133.00123.00141.00185.00203.00190.00247.00356.00323.00369.00449.00

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 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 11200660475611
Inventory Days
Days Payable
Cash Conversion Cycle 11200660475611
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

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
FIIs 17.88%17.28%14.12%13.37%10.89%11.66%15.66%16.24%16.13%18.53%13.20%11.42%
DIIs 21.53%21.11%22.61%26.34%27.24%31.24%31.48%32.78%34.15%34.12%36.43%34.95%
Public 60.32%61.33%62.98%60.01%61.57%56.82%52.59%50.72%49.47%47.07%50.11%53.37%
Others 0.28%0.28%0.28%0.28%0.28%0.28%0.28%0.28%0.27%0.27%0.27%0.27%
No. of Shareholders 16,30,99116,32,59716,01,51815,18,59715,98,63115,13,30714,72,72714,39,96714,13,44413,88,44714,38,94314,07,546

Shareholding Pattern Chart

No. of Shareholders

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

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Parag Parikh Flexi Cap Fund 80,755,676 0.76 1023.944,206,5842025-12-08 07:03:5482.68%
ICICI Prudential India Opportunities Fund 18,298,644 0.66 232.0126,366,0622026-02-23 01:21:59-30.6%
SBI Contra Fund 11,172,975 0.29 141.6611,172,9752025-04-22 15:56:570%
Mirae Asset Large Cap Fund 9,497,548 0.3 120.4217,300,4832025-12-08 07:03:54-45.1%
Canara Robeco Small Cap Fund 8,978,161 0.9 113.837,359,0952025-12-08 07:03:5422%
SBI Small Cap Fund 8,218,007 0.3 104.221,253,3742026-02-23 07:14:19-61.33%
SBI Infrastructure Fund 7,500,000 2.09 95.0910,000,0002025-05-25 00:04:50-25%
SBI Energy Opportunities Fund 5,704,650 0.84 72.33N/AN/AN/A
Old Bridge Focused Fund 5,693,600 2.98 72.19N/AN/AN/A
ICICI Prudential Energy Opportunities Fund 4,558,713 0.58 57.86,799,5382026-02-23 07:14:19-32.96%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 1.001.001.001.001.00
Basic EPS (Rs.) 4.833.943.423.456.91
Diluted EPS (Rs.) 4.833.943.423.456.90
Cash EPS (Rs.) 4.894.043.493.617.44
Book Value[Excl.RevalReserv]/Share (Rs.) 12.7510.918.977.8318.62
Book Value[Incl.RevalReserv]/Share (Rs.) 12.7510.918.977.8318.62
Revenue From Operations / Share (Rs.) 6.035.044.504.8010.65
PBDIT / Share (Rs.) 6.445.374.604.649.68
PBIT / Share (Rs.) 6.205.144.394.459.13
PBT / Share (Rs.) 6.175.114.364.509.06
Net Profit / Share (Rs.) 4.653.823.283.426.88
NP After MI And SOA / Share (Rs.) 4.823.943.433.446.90
PBDIT Margin (%) 106.79106.54102.1896.7490.92
PBIT Margin (%) 102.84101.9897.5492.7585.73
PBT Margin (%) 102.35101.3596.9393.6885.08
Net Profit Margin (%) 77.1575.6773.0071.2664.63
NP After MI And SOA Margin (%) 79.8878.0976.3071.7464.83
Return on Networth / Equity (%) 37.7636.0838.2743.9639.17
Return on Capital Employeed (%) 46.4244.8046.3853.8445.19
Return On Assets (%) 19.5319.7721.0418.2320.91
Asset Turnover Ratio (%) 0.270.270.250.310.39
Current Ratio (X) 1.571.581.261.541.93
Quick Ratio (X) 1.571.581.261.541.93
Dividend Payout Ratio (NP) (%) 31.1625.420.000.0036.33
Dividend Payout Ratio (CP) (%) 29.6924.010.000.0033.64
Earning Retention Ratio (%) 68.8474.580.000.0063.67
Cash Earning Retention Ratio (%) 70.3175.990.000.0066.36
Interest Coverage Ratio (X) 219.26168.81166.75211.16140.65
Interest Coverage Ratio (Post Tax) (X) 159.41120.90120.12153.52100.98
Enterprise Value (Cr.) 15535.3311777.8311329.6319918.219863.02
EV / Net Operating Revenue (X) 28.9226.2228.2646.2131.03
EV / EBITDA (X) 27.0824.6127.6647.7634.13
MarketCap / Net Operating Revenue (X) 29.1326.6428.4246.7531.26
Retention Ratios (%) 68.8374.570.000.0063.66
Price / BV (X) 13.7712.3114.2628.6518.89
Price / Net Operating Revenue (X) 29.1326.6428.4346.7531.26
EarningsYield 0.020.020.020.010.02

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

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.
INDUSTRYADDRESSCONTACT
ExchangesC/o.Avanta Business Centre, First Floor, Unit No. 1.14(a) New Delhi Delhi 110017Contact not found
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. Pradeep Kumar PujariIndependent Director
Mr. Rajeev GuptaIndependent Director
Mr. Rohit BajajJoint Managing Director

FAQ

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

As of 09 April 2026, Indian Energy Exchange Ltd (IEX)'s intrinsic value is ₹60.83, which is 49.31% lower than the current market price of ₹120.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (40.5 %), book value (₹13.5), dividend yield (2.50 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Indian Energy Exchange Ltd (IEX)?

Indian Energy Exchange Ltd (IEX) is trading at ₹120.00 as of 09 April 2026, with a FY2026-2027 high of ₹215 and low of ₹114. The stock is currently near its 52-week low. Market cap stands at ₹10,696 Cr..

How does Indian Energy Exchange Ltd (IEX)'s P/E ratio compare to its industry?

Indian Energy Exchange Ltd (IEX) has a P/E ratio of 23.2, which is below the industry average of 38.35. This is broadly in line with or below the industry average.

Is Indian Energy Exchange Ltd (IEX) financially healthy?

Key indicators for Indian Energy Exchange Ltd (IEX): ROCE of 53.6 % indicates efficient capital utilization; ROE of 40.5 % shows strong shareholder returns. Dividend yield is 2.50 %.

Is Indian Energy Exchange Ltd (IEX) profitable and how is the profit trend?

Indian Energy Exchange Ltd (IEX) reported a net profit of ₹415 Cr in Mar 2025 on revenue of ₹535 Cr. Compared to ₹303 Cr in Mar 2022, the net profit shows an improving trend.

Does Indian Energy Exchange Ltd (IEX) pay dividends?

Indian Energy Exchange Ltd (IEX) has a dividend yield of 2.50 % at the current price of ₹120.00. This is a relatively attractive yield for income-seeking investors.

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
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