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Indian Energy Exchange Limited Q1 FY26 earnings call summary

NSE: IEX · BSE: 540750

Earnings call of 25 Jul 2025, summarised by AI from the filing.

IEX Q1 FY26 revenue ₹184.2 cr (+19.2%) and PAT ₹120.7 cr (+25.2%), as CERC ordered Day Ahead Market coupling by January 2026.

Key takeaways

  1. Revenue Q1 FY26 revenue ₹184.2 cr (Q1 FY25: ₹154.5 cr, +19.2% Y-o-Y) and PAT ₹120.7 cr (Q1 FY25: ₹96.4 cr, +25.2%).
  2. Market coupling CERC decided to initiate market coupling in Day Ahead Market by January 2026; management said implementation may take longer.
  3. Volume growth Electricity trading volume 32.4 billion units, +15% Y-o-Y, led by substantial sell availability due to weather and government measures.
  4. Price fall Average Day Ahead Market price ₹4.41 per unit, down 16% Y-o-Y, as supply liquidity rose 45.2%.

Original filing on BSE

Indian Energy Exchange Limited Q1 FY27 results

As filed: Revenue ₹158 cr (+11% year on year), EBITDA ₹131 cr (+13% year on year), PAT ₹135 cr (+11% year on year), EBITDA margin 82.9% (+124 bps).

The Q1 FY27 score, against the company's own trend, is for premium members.

Earlier results and the share price after them

  • Q4 FY26: Revenue ₹174 cr (+23% year on year), EBITDA ₹149 cr (+22% year on year), PAT ₹130 cr (+11% year on year), EBITDA margin 85.7% (−22 bps). Score 72 of 100, Above trend. Revenue growth was well above the company's own trend; EBITDA growth was above it; profit growth was well below it. EBITDA margin fell 22 bps year on year. Profit lagged EBITDA because of depreciation, interest or other income, not the business. Revenue grew on the previous quarter, against its usual seasonal pattern. Share price after the results: +0.1% in 29 days (Nifty 500: −0.7%).
  • Q3 FY26: Revenue ₹146 cr (+10% year on year), EBITDA ₹122 cr (+7% year on year), PAT ₹119 cr (+11% year on year), EBITDA margin 83.7% (−266 bps). Score 32 of 100, Below trend. Revenue, EBITDA and profit growth were well below the company's own trend. EBITDA margin fell 266 bps year on year. Revenue fell 5% from last quarter. Revenue rose ₹13.7 cr on a year ago, against ₹17.0 cr the year before. Share price after the results: −0.8% in 30 days (Nifty 500: +2.5%).
  • Q2 FY26: Revenue ₹154 cr (+11% year on year), EBITDA ₹135 cr (+13% year on year), PAT ₹123 cr (+14% year on year), EBITDA margin 87.7% (+133 bps). Score 35 of 100, Below trend. Revenue, EBITDA and profit growth were well below the company's own trend. EBITDA margin rose 133 bps year on year. Revenue rose ₹15.0 cr on a year ago, against ₹30.0 cr the year before. Share price after the results: −4.2% in 30 days (Nifty 500: +0.4%).
  • Q1 FY26: Revenue ₹142 cr (+15% year on year), EBITDA ₹116 cr (+17% year on year), PAT ₹121 cr (+26% year on year), EBITDA margin 81.7% (+185 bps). Score 50 of 100, In line with trend. Revenue growth was below the company's own trend; EBITDA growth was in line with it; profit growth was well above it. EBITDA margin rose 185 bps year on year. Other income 28% of PBT. Revenue rose ₹18.0 cr on a year ago, against ₹20.0 cr the year before. Share price after the results: −29.5% in 30 days (Nifty 500: −0.6%).
  • Q4 FY25: Revenue ₹142 cr (+17% year on year), EBITDA ₹122 cr (+16% year on year), PAT ₹117 cr (+21% year on year), EBITDA margin 85.9% (−86 bps). Score 67 of 100, Above trend. Revenue and profit growth were in line with the company's own trend; EBITDA growth was below it. EBITDA margin fell 86 bps year on year. Revenue rose ₹21.0 cr on a year ago, more than the ₹14.0 cr it added the year before. Share price after the results: +2.2% in 29 days (Nifty 500: +2.7%).
  • Q3 FY25: Revenue ₹132 cr (+15% year on year), EBITDA ₹114 cr (+15% year on year), PAT ₹107 cr (+16% year on year), EBITDA margin 86.4% (+28 bps). Score 50 of 100, In line with trend. Revenue, EBITDA and profit growth were below the company's own trend. EBITDA margin rose 28 bps year on year. Revenue fell 5% from last quarter. Revenue rose ₹17.0 cr on a year ago, more than the ₹15.0 cr it added the year before.
  • Q2 FY25: Revenue ₹139 cr (+28% year on year), EBITDA ₹120 cr (+29% year on year), PAT ₹108 cr (+26% year on year), EBITDA margin 86.3% (+101 bps). Score 75 of 100, Above trend. EBITDA margin rose 101 bps year on year. Not enough history for a trend yet: scored on growth alone.

Past price moves after results do not indicate future moves. Not a recommendation.

Indian Energy Exchange Limited earnings call, investor presentation and press release summaries

Figures from the company's filings with NSE and BSE. Not investment advice.