Fundamental Analysis of Indian Energy Exchange Ltd (IEX)

About the Company -Indian Energy Exchange Ltd (IEX)

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.

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

Management
Name	Position Held
Mr. Satyanarayan Goel	Chairman & Managing Director
Mr. Gautam Dalmia	Non Executive Director
Mr. Amit Garg	Non Executive Director
Ms. Sudha Pillai	Independent Director
Mr. Tejpreet Singh Chopra	Independent Director
Prof. Kayyalathu Thomas Chacko	Independent Director

Basic Stock Data of Indian Energy Exchange Ltd (IEX)

Last Updated: July 6, 2024, 12:01 pm

Market Cap	16,438 Cr.
Current Price	184
High / Low	191/119
Stock P/E	48.1
Book Value	10.6
Dividend Yield	1.36 %
ROCE	%
ROE	39.4 %
Face Value	1.00
PEG Ratio	4.03

Indian Energy Exchange Ltd (IEX) Quarterly Results

Month	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
Sales	85	95	90	109	114	112	98	95	100	107	104	109	115
Expenses	13	14	14	13	16	17	17	16	17	14	22	16	15
Operating Profit	72	81	77	96	98	95	81	79	83	93	82	92	100
OPM %	85%	85%	85%	88%	86%	85%	82%	83%	83%	87%	78%	85%	87%
Other Income	11	7	12	12	12	16	15	19	17	23	23	24	26
Interest	1	0	1	0	0	0	1	1	1	1	1	1	1
Depreciation	4	3	4	4	4	4	4	5	5	5	5	5	5
Profit before tax	78	84	84	103	106	107	91	92	95	110	99	111	120
Tax %	23%	24%	24%	24%	25%	24%	25%	24%	25%	25%	25%	25%	25%
Net Profit	60	64	64	78	80	81	69	70	71	83	74	83	89
EPS in Rs	0.67	0.71	0.71	0.87	0.89	0.90	0.76	0.78	0.79	0.93	0.83	0.93	1.00

Last Updated: June 7, 2024, 8:54 am

Indian Energy Exchange Ltd (IEX) Quarterly Chart

Indian Energy Exchange Ltd (IEX) Profit & Loss

Last Updated: July 3, 2024, 5:32 am

Month	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Sales	60	138	174	176	170	199	230	254	257	317	426	401	420
Expenses	19	34	38	41	45	55	46	51	53	58	60	64	70
Operating Profit	41	104	136	136	125	143	185	203	204	259	366	336	350
OPM %	68%	75%	78%	77%	74%	72%	80%	80%	80%	82%	86%	84%	83%
Other Income	11	-6	0	0	25	34	26	40	40	40	52	73	87
Interest	0	0	0	0	0	0	0	1	2	2	2	2	3
Depreciation	4	6	3	3	3	3	10	10	15	16	16	19	20
Profit before tax	48	93	133	132	147	174	200	232	228	282	400	389	415
Tax %	29%	29%	31%	32%	32%	35%	34%	29%	22%	24%	24%	25%
Net Profit	34	66	92	90	100	114	132	165	178	213	303	293	311
EPS in Rs	0.42	0.81	1.12	1.10	1.16	1.31	1.45	1.81	1.98	2.38	3.37	3.28	3.48
Dividend Payout %	16%	8%	9%	88%	72%	113%	50%	0%	42%	56%	59%	30%

Indian Energy Exchange Ltd (IEX) Profit & Loss Yearly Chart

Indian Energy Exchange Ltd (IEX) Growth

Compounded Sales Growth
10 Years:	10%
5 Years:	12%
3 Years:	12%
TTM:	12%

Compounded Profit Growth
10 Years:	14%
5 Years:	17%
3 Years:	18%
TTM:	17%

Stock Price CAGR
10 Years:	%
5 Years:	31%
3 Years:	14%
1 Year:	43%

Return on Equity
10 Years:	43%
5 Years:	43%
3 Years:	42%
Last Year:	39%

Last Updated: June 21, 2024, 5:20 pm

Indian Energy Exchange Ltd (IEX) Balance Sheet

Month	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Sep 2023
Equity Capital	27	27	27	27	29	29	30	30	30	30	90	89	89
Reserves	75	141	223	210	168	248	254	340	360	502	612	695	764
Preference Capital	3	3	3	3	2	2	0	0	0	0	0
Borrowings	0	0	3	0	0	0	0	0	14	12	10	14	12
Other Liabilities	107	114	116	169	227	277	291	335	264	384	983	640	732
Total Liabilities	208	282	369	406	424	554	574	706	668	927	1,695	1,439	1,597
Fixed Assets	22	12	10	14	11	8	119	111	119	115	110	112	106
CWIP	0	0	0	0	0	1	1	1	1	6	5	2	2
Investments	125	189	247	254	281	383	268	475	514	710	1,247	1,204	1,298
Other Assets	60	81	111	137	131	162	186	118	35	96	333	120	190
Total Assets	208	282	369	406	424	554	574	706	668	927	1,695	1,439	1,597

Indian Energy Exchange Ltd (IEX) Reserves and Borrowings Chart

Indian Energy Exchange Ltd (IEX) Cash Flow

Month	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Cash from Operating Activity	30	76	76	92	89	206	131	138	128	304	788	-22
Cash from Investing Activity	-20	-69	-90	24	-23	-21	-33	-62	-5	-194	-473	70
Cash from Financing Activity	-0	-7	-8	-106	-70	-109	-126	-78	-161	-77	-136	-215
Net Cash Flow	10	-0	-22	10	-4	76	-29	-2	-38	33	179	-167

Indian Energy Exchange Ltd (IEX) Financial Efficiency Indicators

Month	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Debtor Days	1	1	1	1	2	0	0	66	0	4	75	6
Inventory Days
Days Payable
Cash Conversion Cycle	1	1	1	1	2	0	0	66	0	4	75	6
Working Capital Days	-448	-208	-191	-335	-384	-494	-322	-371	-323	-386	-732	87
ROCE %	53%	72%	61%	48%	67%	64%	66%	66%	56%	59%	62%

Indian Energy Exchange Ltd (IEX) Financial Efficiency Indicators Chart

Indian Energy Exchange Ltd (IEX) Share Holding Pattern

Month	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
FIIs	36.66%	37.74%	31.01%	27.07%	20.77%	15.79%	15.49%	17.88%	17.28%	14.12%	13.37%	10.89%
DIIs	25.47%	23.13%	17.66%	19.48%	21.65%	22.39%	21.73%	21.53%	21.11%	22.61%	26.34%	27.24%
Public	37.53%	38.81%	51.02%	53.15%	57.29%	61.54%	62.49%	60.32%	61.33%	62.98%	60.01%	61.57%
Others	0.33%	0.31%	0.31%	0.29%	0.29%	0.27%	0.27%	0.28%	0.28%	0.28%	0.28%	0.28%
No. of Shareholders	2,72,940	4,06,214	12,19,823	14,73,386	16,44,734	17,13,913	17,12,825	16,30,991	16,32,597	16,01,518	15,18,597	15,98,631

Indian Energy Exchange Ltd (IEX) Shareholding Pattern Chart

No. of Indian Energy Exchange Ltd (IEX) Shareholders

Indian Energy Exchange Ltd (IEX) 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	44,206,584	1.26	556.34	13,965,062	2024-07-05	216.55%
Mirae Asset Large Cap Fund	21,650,513	0.79	272.47	13,965,062	2024-07-05	55.03%
Mirae Asset Emerging Bluechip Fund	20,991,120	0.94	264.17	13,965,062	2024-07-05	50.31%
Mirae Asset Focused Fund	13,965,062	2.03	175.75	13,965,062	2024-07-05	0%
Mirae Asset Tax Saver Fund	13,375,783	0.96	168.33	13,965,062	2024-07-05	-4.22%
SBI Small Cap Fund	8,530,300	0.51	107.35	13,965,062	2024-07-05	-38.92%
Kotak Equity Arbitrage Fund - Regular Plan	4,312,500	0.19	54.27	13,965,062	2024-07-05	-69.12%
Invesco India Arbitrage Fund	3,982,500	0.58	50.12	13,965,062	2024-07-05	-71.48%
Quant Small Cap Fund	3,050,000	0.4	38.38	13,965,062	2024-07-05	-78.16%
HSBC Arbitrage Fund	2,298,750	1.64	28.93	13,965,062	2024-07-05	-83.54%

Indian Energy Exchange Ltd (IEX) ROCE Trend

Indian Energy Exchange Ltd (IEX) EPS Trend

Indian Energy Exchange Ltd (IEX) Key Financial Ratios

Month	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20
FaceValue	1.00	1.00	1.00	1.00	1.00
Basic EPS (Rs.)	3.94	3.42	3.45	6.91	5.89
Diluted EPS (Rs.)	3.94	3.42	3.45	6.90	5.89
Cash EPS (Rs.)	4.04	3.49	3.61	7.44	6.40
Book Value[Excl.RevalReserv]/Share (Rs.)	10.91	8.97	7.83	18.62	13.00
Book Value[Incl.RevalReserv]/Share (Rs.)	10.91	8.97	7.83	18.62	13.00
Revenue From Operations / Share (Rs.)	5.04	4.50	4.80	10.65	8.62
PBDIT / Share (Rs.)	5.37	4.60	4.64	9.68	8.13
PBIT / Share (Rs.)	5.14	4.39	4.45	9.13	7.62
PBT / Share (Rs.)	5.11	4.36	4.50	9.06	7.56
Net Profit / Share (Rs.)	3.82	3.28	3.42	6.88	5.89
NP After MI And SOA / Share (Rs.)	3.94	3.43	3.44	6.90	5.89
PBDIT Margin (%)	106.54	102.18	96.74	90.92	94.28
PBIT Margin (%)	101.98	97.54	92.75	85.73	88.35
PBT Margin (%)	101.35	96.93	93.68	85.08	87.74
Net Profit Margin (%)	75.67	73.00	71.26	64.63	68.33
NP After MI And SOA Margin (%)	78.09	76.30	71.74	64.83	68.33
Return on Networth / Equity (%)	36.08	38.27	43.96	39.17	45.29
Return on Capital Employeed (%)	44.80	46.38	53.84	45.19	52.60
Return On Assets (%)	19.77	21.04	18.23	20.91	26.33
Asset Turnover Ratio (%)	0.27	0.25	0.31	0.39	0.37
Current Ratio (X)	1.58	1.26	1.54	1.93	1.46
Quick Ratio (X)	1.58	1.26	1.54	1.93	1.46
Dividend Payout Ratio (NP) (%)	0.00	0.00	0.00	36.33	42.61
Dividend Payout Ratio (CP) (%)	0.00	0.00	0.00	33.64	39.21
Earning Retention Ratio (%)	0.00	0.00	0.00	63.67	57.39
Cash Earning Retention Ratio (%)	0.00	0.00	0.00	66.36	60.79
Interest Coverage Ratio (X)	168.81	166.75	211.16	140.65	154.85
Interest Coverage Ratio (Post Tax) (X)	120.90	120.12	153.52	100.98	113.24
Enterprise Value (Cr.)	11777.83	11329.63	19918.21	9863.02	3787.92
EV / Net Operating Revenue (X)	26.22	28.26	46.21	31.03	14.73
EV / EBITDA (X)	24.61	27.66	47.76	34.13	15.62
MarketCap / Net Operating Revenue (X)	26.64	28.42	46.75	31.26	14.84
Retention Ratios (%)	0.00	0.00	0.00	63.66	57.38
Price / BV (X)	12.31	14.26	28.65	18.89	9.84
Price / Net Operating Revenue (X)	26.64	28.43	46.75	31.26	14.84
EarningsYield	0.02	0.02	0.01	0.02	0.04

Indian Energy Exchange Ltd (IEX) Profitability Ratios (%)

Indian Energy Exchange Ltd (IEX) Liquidity Ratios

Indian Energy Exchange Ltd (IEX) Liquidity Ratios (%)

Indian Energy Exchange Ltd (IEX) Interest Coverage Ratios (%)

Indian Energy Exchange Ltd (IEX) Valuation Ratios

Fair Value

Fair Value: 203.62

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.

Undervalued: 10.66% compared to the current price 184

Intrinsic Value: 227.93

Calculation basis:

Fair 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 fair value of the stock by analyzing its fundamental indicators along with EPS growth.

Undervalued: 23.87% compared to the current price ₹184

Last 5 Year EPS CAGR: 11.94%

*Investments are subject to market risks

Strength and Weakness of Indian Energy Exchange Ltd (IEX) Stock

Strength	Weakness
The stock has a high average ROCE of 56.17%, which is a positive sign. The stock has a low average Working Capital Days of -342.25, which is a positive sign. The company has higher reserves (353.23 cr) compared to borrowings (1.23 cr), indicating strong financial stability. The company has shown consistent growth in sales (247.85 cr) and profit (221.00 cr) over the years.	The stock has a high average Cash Conversion Cycle of 13.08, which may not be favorable.

FAQ

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

The latest fair value of Indian Energy Exchange Ltd (IEX) is ₹203.62.

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

The Market Cap of Indian Energy Exchange Ltd (IEX) is 16,438 Cr..

What is the current Stock Price of Indian Energy Exchange Ltd (IEX) as on 06 July 2024?

The current stock price of Indian Energy Exchange Ltd (IEX) as on 06 July 2024 is 184.

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 191/119.

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

The Stock P/E of Indian Energy Exchange Ltd (IEX) is 48.1.

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

The Book Value of Indian Energy Exchange Ltd (IEX) is 10.6.

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

The Dividend Yield of Indian Energy Exchange Ltd (IEX) is 1.36 %.

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

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

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

The ROE of Indian Energy Exchange Ltd (IEX) is 39.4 %.

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

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