Indian Energy Exchange Ltd.
IEXFinancial Services filings
We hold this company’s filings and have not read the financial statements out of them yet. Every filing on record is listed under filings, and each one opens.
Earnings calls
31 transcript(s)/analyst meet(s) served; 0 document(s) on file are not transcripts (cover letters, duplicates, unresolved) and are excluded. Speaker attribution is shown only where the segmenter attributes ≥ 95% of sentences to management or analysts (0 of 31 documents here); elsewhere sentences render unattributed.
| Kind | Date | Period | Served | Attribution rate |
|---|---|---|---|---|
| TRANSCRIPT | 20190219 | 2018-12-31 | yes | |
| TRANSCRIPT | 20190510 | 2019-03-31 | yes | |
| TRANSCRIPT | 20190808 | 2019-06-30 | yes | |
| TRANSCRIPT | 20191030 | 2019-09-30 | yes | |
| TRANSCRIPT | 20200123 | 2019-12-31 | yes | |
| TRANSCRIPT | 20200218 | 2019-12-31 | yes | |
| TRANSCRIPT | 20200525 | 2020-03-31 | yes | |
| TRANSCRIPT | 20200813 | 2020-06-30 | yes | |
| TRANSCRIPT | 20201029 | 2020-09-30 | yes | |
| TRANSCRIPT | 20210129 | 2020-12-31 | yes | |
| TRANSCRIPT | 20210519 | 2021-03-31 | yes | |
| TRANSCRIPT | 20210803 | 2021-06-30 | yes | |
| TRANSCRIPT | 20211029 | 2021-09-30 | yes | |
| TRANSCRIPT | 20220131 | 2021-12-31 | yes | |
| TRANSCRIPT | 20220506 | 2022-03-31 | yes | |
| TRANSCRIPT | 20220801 | 2022-06-30 | yes | |
| TRANSCRIPT | 20221031 | 2022-09-30 | yes | |
| TRANSCRIPT | 20230130 | 2022-12-31 | yes | |
| TRANSCRIPT | 20230601 | 2023-03-31 | yes | |
| TRANSCRIPT | 20230803 | 2023-06-30 | yes | |
| TRANSCRIPT | 20231108 | 2023-09-30 | yes | |
| TRANSCRIPT | 20240201 | 2023-12-31 | yes | |
| TRANSCRIPT | 20240522 | 2024-03-31 | yes | |
| TRANSCRIPT | 20241029 | 2024-09-30 | yes | |
| TRANSCRIPT | 20250130 | 2024-12-31 | yes | |
| TRANSCRIPT | 20250430 | 2025-03-31 | yes | |
| TRANSCRIPT | 20250801 | 2025-06-30 | yes | |
| TRANSCRIPT | 20251107 | 2025-09-30 | yes | |
| TRANSCRIPT | 20260205 | 2025-12-31 | yes | |
| TRANSCRIPT | 20260430 | 2026-03-31 | yes | |
| ANALYST_MEET | 20260731 | 2026-06-30 | yes |
IEX
files the standard Schedule III statements. Every figure below opens to the filing it was read from; where a figure is not shown, the reason is printed in its place.
Identity
| Statement division | general |
| Scope served | consolidated |
| Panels on this page | 4 |
Market
The closes are adjusted for every split and bonus on record inside the period this series covers, and each adjustment is checked against the price move on its ex-date.
| Last close | 111.20 |
| 52-week range | 111.2 – 154.78 |
| Return 1M | -10.47% |
| Return 3M | -11.04% |
| Return 1Y | -20.8% |
| Return 3Y | -15.21% |
| Return 5Y | -43.59% |
| Market capitalisation | not shown — we could not confirm it |
| Shares outstanding | not shown — we could not confirm it |
| P/E | not shown — we could not confirm it |
| P/B | not shown — we could not confirm it |
| EV/EBITDA | not shown — we could not confirm it |
Latest quarter filed — period ending 2026-06-30
In INR crore except per-share figures. `period_id` is the period the filing names for the number; the date beside each cell is when it was filed.
| Revenue from operations | 158.00 |
| Other income | 45.00 |
| Total income | 203.00 |
| Cost of materials consumed | 0.00 |
| Purchases of stock-in-trade | 0.00 |
| Changes in inventories | 0.00 |
| Employee benefit expense | 14.00 |
| Finance costs | 1.00 |
Ownership — 2026-06-30, and the change from 2026-03-31
| Holder | Per cent | Change |
|---|---|---|
| promoter and promoter group | not disclosed | — |
| institutions foreign | 0.13 | -0.02 |
| institutions domestic | 0.31 | 0.01 |
| mutual funds | 0.24 | 0.02 |
| public | 1.00 | 0.00 |
Documents on file
| Class | Most recent | On file |
|---|---|---|
| ANALYST_MEET | 2026-06-30 | 1 |
| TRANSCRIPT | 2026-03-31 | 30 |
Financial statements
Filed results, consolidated, in INR crore except per-share figures. Every figure opens to the filing it was read from. Quarterly and annual columns are the periods the filing itself names, never a document date.
Quarterly results, as filed
| Line | 2022-09-30 | 2022-12-31 | 2023-03-31 | 2023-06-30 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 95.00 | 100.00 | 107.00 | 104.00 | 109.00 | 115.00 | 121.00 | 124.00 | 139.00 | 132.00 | 142.00 | 142.00 | 154.00 | 146.00 | 174.00 | 158.00 |
| Other income | 19.00 | 17.00 | 23.00 | 23.00 | 24.00 | 26.00 | 28.00 | 31.00 | 28.00 | 28.00 | 32.00 | 42.00 | 29.00 | 37.00 | 22.00 | 45.00 |
| Total income | 114.00 | 117.00 | 130.00 | 127.00 | 133.00 | 141.00 | 149.00 | 154.00 | 168.00 | 161.00 | 175.00 | 184.00 | 183.00 | 183.00 | 196.00 | 203.00 |
| Cost of materials consumed | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Purchases of stock-in-trade | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Changes in inventories | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Employee benefit expense | 9.00 | 9.00 | 9.00 | 10.00 | 10.00 | 9.00 | 10.00 | 11.00 | 12.00 | 12.00 | 11.00 | 12.00 | 12.00 | 13.00 | 12.00 | 14.00 |
| Finance costs | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 |
| Depreciation and amortisation | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 | 6.00 | 6.00 | 6.00 | 6.00 |
| Other expenses | 7.00 | 8.00 | 5.00 | 13.00 | 7.00 | 7.00 | 6.00 | 13.00 | 7.00 | 7.00 | 10.00 | 14.00 | 9.00 | 11.00 | 13.00 | 13.00 |
| Total expenses | 21.00 | 23.00 | 20.00 | 28.00 | 22.00 | 22.00 | 23.00 | 30.00 | 25.00 | 25.00 | 27.00 | 32.00 | 27.00 | 30.00 | 32.00 | 34.00 |
| Profit before exceptional items and tax | 92.00 | 95.00 | 110.00 | 99.00 | 111.00 | 119.00 | 127.00 | 124.00 | 142.00 | 136.00 | 148.00 | 152.00 | 157.00 | 153.00 | 165.00 | 169.00 |
| Exceptional items | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Profit before tax | 92.00 | 95.00 | 110.00 | 99.00 | 111.00 | 119.00 | 127.00 | 124.00 | 142.00 | 136.00 | 148.00 | 152.00 | 157.00 | 153.00 | 165.00 | 169.00 |
| Current tax | 22.00 | 22.00 | 30.00 | 23.00 | 26.00 | 29.00 | 28.00 | 30.00 | 35.00 | 30.00 | 37.00 | 38.00 | 38.00 | 42.00 | 41.00 | 42.00 |
| Deferred tax | 0.00 | 1.00 | -2.00 | 1.00 | 2.00 | 1.00 | 4.00 | 2.00 | 2.00 | 2.00 | -2.00 | -0.00 | -0.00 | -4.00 | -1.00 | 0.00 |
| Tax expense | 22.00 | 24.00 | 27.00 | 25.00 | 28.00 | 30.00 | 32.00 | 31.00 | 37.00 | 32.00 | 35.00 | 38.00 | 38.00 | 38.00 | 39.00 | 42.00 |
| Profit for the period | 71.00 | 77.00 | 88.00 | 76.00 | 86.00 | 92.00 | 97.00 | 96.00 | 108.00 | 107.00 | 117.00 | 121.00 | 123.00 | 119.00 | 130.00 | 135.00 |
| Profit attributable to owners | 71.00 | 77.00 | 88.00 | 76.00 | 86.00 | 92.00 | 97.00 | 96.00 | 108.00 | — | 117.00 | 121.00 | 123.00 | 119.00 | 130.00 | 135.00 |
| Profit attributable to non-controlling interests | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other comprehensive income | 0.00 | 0.00 | 0.00 | -0.00 | 0.00 | 0.00 | 0.00 | -0.00 | 0.00 | 0.00 | 0.00 | -0.00 | 0.00 | 0.00 | 0.00 | -1.00 |
| Total comprehensive income | 71.00 | 77.00 | 88.00 | 76.00 | 87.00 | 92.00 | 97.00 | 96.00 | 108.00 | 108.00 | 117.00 | 120.00 | 124.00 | 120.00 | 130.00 | 134.00 |
| Earnings per share, basic | 0.79 | 0.86 | 0.99 | 0.85 | 0.97 | 1.03 | 1.09 | 1.08 | 1.22 | 1.21 | 1.32 | 1.36 | 1.39 | 1.34 | 1.45 | 1.52 |
| Earnings per share, diluted | 0.79 | 0.86 | 0.99 | 0.85 | 0.97 | 1.03 | 1.09 | 1.08 | 1.22 | 1.21 | 1.32 | 1.36 | 1.39 | 1.34 | 1.45 | 1.52 |
Annual results, as filed
| Line | 2020-03-31 | 2021-03-31 | 2022-03-31 | 2023-03-31 | 2024-03-31 | 2025-03-31 | 2026-03-31 |
|---|---|---|---|---|---|---|---|
| Revenue from operations | 257.00 | 318.00 | 431.00 | 401.00 | 449.00 | 537.00 | 616.00 |
| Other income | 40.00 | 38.00 | 53.00 | 73.00 | 102.00 | 120.00 | 131.00 |
| Total income | 297.00 | 356.00 | 484.00 | 474.00 | 551.00 | 657.00 | 747.00 |
| Cost of materials consumed | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Purchases of stock-in-trade | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Changes in inventories | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Employee benefit expense | 33.00 | 44.00 | 42.00 | 35.00 | 39.00 | 46.00 | 49.00 |
| Finance costs | 2.00 | 2.00 | 2.00 | 2.00 | 3.00 | 3.00 | 2.00 |
| Depreciation and amortisation | 15.00 | 17.00 | 17.00 | 19.00 | 20.00 | 21.00 | 23.00 |
| Other expenses | 22.00 | 23.00 | 26.00 | 30.00 | 33.00 | 37.00 | 47.00 |
| Total expenses | 72.00 | 86.00 | 87.00 | 86.00 | 96.00 | 107.00 | 121.00 |
| Profit before exceptional items and tax | 226.00 | 270.00 | 398.00 | 389.00 | 455.00 | 550.00 | 626.00 |
| Exceptional items | 0.00 | 0.00 | 6.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Profit before tax | 226.00 | 270.00 | 404.00 | 389.00 | 455.00 | 550.00 | 626.00 |
| Current tax | 50.00 | 66.00 | 103.00 | 96.00 | 107.00 | 132.00 | 158.00 |
| Deferred tax | 0.00 | -1.00 | -6.00 | -0.00 | 9.00 | 4.00 | -5.00 |
| Tax expense | 50.00 | 65.00 | 97.00 | 96.00 | 115.00 | 135.00 | 153.00 |
| Profit for the period | 176.00 | 205.00 | 309.00 | 306.00 | 351.00 | 429.00 | 493.00 |
| Profit attributable to owners | 0.00 | 206.00 | 309.00 | 306.00 | 351.00 | 429.00 | 493.00 |
| Profit attributable to non-controlling interests | 0.00 | -1.00 | -1.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other comprehensive income | -0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1.00 |
| Total comprehensive income | 175.00 | 206.00 | 309.00 | 306.00 | 351.00 | 429.00 | 494.00 |
| Earnings per share, basic | 5.89 | 6.91 | 3.45 | 3.42 | 3.94 | 4.83 | 5.54 |
| Earnings per share, diluted | 5.89 | 6.90 | 3.45 | 3.42 | 3.94 | 4.83 | 5.54 |
Balance sheet, as filed
| Line | 2022-09-30 | 2023-03-31 | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Total assets | 1,212.00 | 1,453.00 | 1,617.00 | 1,774.00 | 1,730.00 | 2,197.00 | 1,882.00 | 2,436.00 |
| Non-current assets | 333.00 | 682.00 | 588.00 | 590.00 | 592.00 | 613.00 | 445.00 | 404.00 |
| Current assets | 879.00 | 772.00 | 1,029.00 | 1,184.00 | 1,137.00 | 1,584.00 | 1,436.00 | 2,032.00 |
| Property, plant and equipment | 25.00 | 23.00 | 21.00 | 20.00 | 16.00 | 15.00 | 16.00 | 29.00 |
| Capital work-in-progress | 0.00 | 2.00 | 2.00 | 0.00 | 1.00 | 0.00 | 1.00 | 0.00 |
| Goodwill | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other intangible assets | 90.00 | 87.00 | 83.00 | 81.00 | 76.00 | 72.00 | 67.00 | 68.00 |
| Inventories | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Trade receivables | 22.00 | 7.00 | 12.00 | 86.00 | 14.00 | 3.00 | 1.00 | 2.00 |
| Cash and cash equivalents | 78.00 | 57.00 | 122.00 | 148.00 | 20.00 | 107.00 | 15.00 | 37.00 |
| Total equity and liabilities | 1,212.00 | 1,453.00 | 1,617.00 | 1,774.00 | 1,730.00 | 2,197.00 | 1,882.00 | 2,436.00 |
| Equity | 755.00 | 799.00 | 873.00 | 972.00 | 1,044.00 | 1,136.00 | 1,248.00 | 1,365.00 |
| Equity share capital | 90.00 | 89.00 | 89.00 | 89.00 | 89.00 | 89.00 | 89.00 | 89.00 |
| Other equity | 666.00 | 710.00 | 784.00 | 883.00 | 955.00 | 1,047.00 | 1,159.00 | 1,275.00 |
| Total liabilities | 456.00 | 654.00 | 744.00 | 801.00 | 685.00 | 1,060.00 | 634.00 | 1,071.00 |
| Non-current liabilities | 46.00 | 44.00 | 47.00 | 50.00 | 54.00 | 54.00 | 53.00 | 53.00 |
| Current liabilities | 411.00 | 610.00 | 698.00 | 751.00 | 631.00 | 1,007.00 | 581.00 | 1,019.00 |
| Borrowings, non-current | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Borrowings, current | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Trade payables | 214.00 | 402.00 | 461.00 | 563.00 | 368.00 | 3.00 | 11.00 | 5.00 |
Cash flow, as filed
| Line | 2022-09-30 | 2023-03-31 | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Net cash from operating activities | -359.00 | -23.00 | 210.00 | 298.00 | 113.00 | 427.00 | -9.00 | 433.00 |
| Net cash from investing activities | 303.00 | 70.00 | -53.00 | -24.00 | -105.00 | -196.00 | 52.00 | -231.00 |
| Net cash from financing activities | -90.00 | -215.00 | -92.00 | -183.00 | -136.00 | -272.00 | -135.00 | -272.00 |
| Purchase of property, plant and equipment | 0.00 | 9.00 | 6.00 | 15.00 | 2.00 | 8.00 | 9.00 | 15.00 |
| Net increase in cash | -146.00 | -167.00 | 65.00 | 91.00 | -128.00 | -41.00 | -92.00 | -70.00 |
| con:CFO.BEFORE_TAX | -318.00 | 70.00 | 253.00 | 405.00 | 166.00 | 558.00 | 52.00 | 591.00 |
| con:INTEREST_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INTEREST_PAID.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:DIVIDENDS_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:TAX_PAID.OPERATING | 41.00 | 93.00 | 43.00 | 106.00 | 54.00 | 131.00 | 61.00 | 158.00 |
| con:CF_OTHER.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INVESTMENTS_PURCHASED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INVESTMENTS_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:PPE_DISPOSALS | -6.00 | 0.00 | 1.00 | 1.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.SUBSIDIARIES_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.SUBSIDIARIES_ACQUIRED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_ACQUIRED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Who owns it
The shareholding pattern filed with the exchange every quarter, as a series. Percentages are of total shares. Each figure names the filing it was read from and the date it was filed.
| Holder | 2023-03-31 | 2023-06-30 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoter and promoter group | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | — | — | — | — |
| Domestic institutions | 21.54 | 21.13 | 22.62 | 26.34 | 27.26 | 31.27 | 31.50 | 32.78 | 34.14 | 34.12 | 0.36 | 0.35 | 0.30 | 0.31 |
| Mutual funds | — | — | — | — | — | — | — | — | — | 27.83 | 0.29 | 0.27 | 0.22 | 0.24 |
| Insurance companies | 4.07 | 4.77 | 4.65 | 4.53 | 4.84 | 5.17 | 5.29 | 5.18 | 5.05 | 5.00 | 0.05 | 0.05 | 0.05 | 0.05 |
| Foreign institutions | 17.88 | 17.28 | 14.12 | 13.37 | 10.90 | 11.67 | 15.66 | 16.24 | 16.12 | 18.53 | 0.13 | 0.11 | 0.14 | 0.13 |
| Government | — | — | — | — | — | — | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | — |
| Public | 99.72 | 99.72 | 99.72 | 99.72 | 99.72 | 99.72 | 99.72 | 99.72 | 99.73 | 99.73 | 1.00 | 1.00 | 1.00 | 1.00 |
| Non-institutional | 60.31 | 61.32 | 62.99 | 60.01 | 61.57 | 56.79 | 52.56 | 50.70 | 49.46 | 47.08 | 0.50 | 0.53 | 0.55 | 0.56 |
| Shares outstanding | 891692735 | 891692735 | 891692735 | 891692735 | 891692735 | 891692735 | 891692735 | 891692735 | 891692735 | 891692735 | 891692735 | 891692735 | 891692735 | 891692735 |
Related parties
Transactions with related parties as disclosed to the exchange for the period ending 2024-09-30, by counterparty, largest first. Amounts are as filed. Each row names the filing and the date it was filed.
| Counterparty | Relationship | Type | Amount in the period | Transactions |
|---|---|---|---|---|
| Satyanarayan Goel | Chairman & Managing Director | Remuneration | 22,429,000.00 | 1 |
| Vineet Harlalka | Chief Financial Officer & Comp | Remuneration | 9,120,000.00 | 1 |
| Indian Gas Exchange Limited | Associate Company | Sale of goods or services | 5,453,000.00 | 1 |
| Rohit Bajaj | Joint Managing Director | Remuneration | 2,341,000.00 | 1 |
| International Carbon Exchange Private Limited | Wholly Owned Subsidiary Company | Sale of goods or services | 1,654,000.00 | 1 |
| Sudha Pillai | Independent Director | Any other transaction | 825,000.00 | 1 |
| Amit Garg | Non-Executive Director | Any other transaction | 750,000.00 | 1 |
| Kayyalathu Thomas Chacko | Independent Director | Any other transaction | 750,000.00 | 1 |
| Tejpreet Singh Chopra | Independent Director | Any other transaction | 300,000.00 | 1 |
What management said
Every earnings call we hold for this company, read in full. Prepared remarks are separated from the question-and-answer session and every paragraph names who said it and on which page. These are management’s own words, not filed figures.
| Date | Quarter | Who spoke | |
|---|---|---|---|
| 2026-04-30 | Q4FY26 | EXCHANGE LIMITED | Read the call |
| 2026-02-05 | Q3FY26 | Read the call | |
| 2025-11-07 | Q2FY26 | CORPORATE COMMUNICATIONS), MANAGING DIRECTOR | Read the call |
| 2025-08-01 | Q1FY26 | –INDIAN ENERGY EXCHANGE LIMITED | Read the call |
| 2025-04-30 | Q4FY25 | EXCHANGE LIMITED | Read the call |
| 2025-01-30 | Q3FY25 | EXCHANGE LIMITED | Read the call |
| 2024-10-29 | Q2FY25 | ANALYST:, AND COMMUNICATIONS, MANAGING DIRECTOR | Read the call |
| 2024-05-22 | Q4FY24 | EXCHANGE LIMITED, LIMITED | Read the call |
| 2024-02-01 | Q3FY24 | – INDIA ENERGY EXCHANGE | Read the call |
| 2023-11-08 | Q2FY24 | EXCHANGE LIMITED, LIMITED | Read the call |
| 2023-08-03 | Q1FY24 | DIRECTOR –INDIAN ENERGY EXCHANGE, EXCHANGE | Read the call |
| 2023-06-01 | Q4FY23 | Read the call | |
| 2023-01-30 | Q3FY23 | EXCHANGE LIMITED, INDIAN ENERGY EXCHANGE LIMITED, LIMITED | Read the call |
| 2022-10-31 | Q2FY23 | Read the call | |
| 2022-08-01 | Q1FY23 | DEVELOPMENT,, ENERGY, HEAD, INDIAN ENERGY EXCHANGE LIMITED, LIMITED, ROHIT | Read the call |
| 2022-05-06 | Q4FY22 | EXCHANGE LIMITED, INDIAN ENERGY EXCHANGE LIMITED, LIMITED | Read the call |
| 2022-01-31 | Q3FY22 | (CORPORATE, EXCHANGE, INDIAN, INDIAN ENERGY EXCHANGE, PRODUCT, SHRUTI | Read the call |
| 2021-10-29 | Q2FY22 | (CORPORATE, CHAIRMAN, EXCHANGE, INDIAN, INDIAN ENERGY EXCHANGE, JOGENDRA, PRODUCT, SATYANA | Read the call |
| 2021-08-03 | Q1FY22 | Read the call | |
| 2021-05-19 | Q4FY21 | Read the call | |
| 2021-01-29 | Q3FY21 | Read the call | |
| 2020-10-29 | Q2FY21 | ENERGY EXCHANGE LIMITED, INDIAN ENERGY EXCHANGE LIMITED | Read the call |
| 2020-08-13 | Q1FY21 | Read the call | |
| 2020-05-25 | Q4FY20 | Read the call | |
| 2020-02-18 | Q3FY20 | Read the call | |
| 2020-01-23 | Q3FY20 | Read the call | |
| 2019-10-30 | Q2FY20 | CORPORATE, OFFICER – IEX, OPERATIONS – IEX, SHRUTI, | Read the call |
| 2019-08-08 | Q1FY20 | CHIEF EXECUTIVE OFFICER, RAJESH, REGULATORY, –STRATEGY | Read the call |
| 2019-05-10 | Q4FY19 | (BUSINESS, EXCHANGE LIMITED, INDIAN, LIMITED | Read the call |
| 2019-02-19 | Q3FY19 | Read the call |
Some earlier announcements under this heading are covering letters only — no transcript was attached.
What they said about it, quarter by quarter
| Topic | Q4FY19 | Q4FY20 | Q4FY21 | Q4FY22 | Q4FY23 | Q4FY24 | Q4FY25 | Q4FY26 |
|---|---|---|---|---|---|---|---|---|
| Capex | Capacity addition wise very difficult to say because it all depends on the condition of the units, which are under construction, but then generation i… | — | What we think is, it is just a start, at exchanges we are doing only 6% and we have to go a long way, our focus should be on evolving right market des… | — | Economic growth sustained its momentum during the year led by a strong rebound in the industrial activities backed by strong private consumption, high… | But if you look at the recent release of the Ministry of Power, the press release which has recently released, they have guided the increase in therma… | No, no, this year, the renewable sector, the capacity addition was about 29 gigawatt, and next year, we are expecting about 40 gigawatt of renewable c… | I mean if you look at the European countries, there are almost about 50%, 60% of the renewable capacity addition is happening through the CfD contract… |
| Capital allocation | The second question is when we talk about the dividend payout. | There is a reduction because last year we did buyback. | The company is sitting on around 600 Crores of cash could you comment on your dividend payout policy especially given that investments are largely don… | The company declared a final dividend up Re 1 equivalent to 100% of the face value of equity shares, taking total dividend payout during the year to 2… | For fiscal year 2023, the Board of Directors of the company announced a final dividend of Rs.1 equivalent to 100% of the face value of equity shares. | — | Sir, I just wanted to understand are you looking at some kind of an acquisition at this moment? | The second was on a possible buyback, if you can throw some light on how the management team and the Board is thinking about buyback at these prices? |
| Costs | — | — | — | So, commodity prices have increased, input costs have increased, electricity cost has increased. | — | — | — | — |
| Debt and cash | On the free cash this I am telling after adjusting the buyback amount because buyback was completed in April so I am adjusting this cash because it wa… | — | One of the examples we have done automated intimations of clearing banks, which now enables us to provide payment credit three to four hours faster th… | — | — | — | Secondly, in terms of moving towards, let's say, longer-term contracts, let's say, towards the 6- month contract, etcetera, in TAM as and when you get… | — |
| Demand | Also, there was no significant increase in demand due to election. | So all of April, I am sure you are following these numbers, the peak electricity demand in the month of April fell by 25%. | One is the firm demand for which they are coming to day ahead market, and where there is 10%, 20% mismatch or they have some doubts whether this deman… | So, my first question is, sir, it has been a story of contrast, especially the April month you see strong demand in India, in the country. | Heat waves in various parts of the world increased power demand which coupled with rising input fuel costs and led to high electricity prices in almos… | But if you look at the overall planning by 2030 based on the projected demand growth, whatever is the energy requirement, the present capacity plus th… | The challenges are basically the availability of power during the peak hours or the demand of the States. | And this year, in fact, the demand is also going to be high. |
| Guidance | In fact, some of the neighboring countries have already appointed the nodal agency on their behalf in India to do transactions on that behalf on the e… | The month of April when it started it was slow start, we expected because everything was absolutely shutdown, the lockdown was very intense when it st… | After Supreme Court withdrawal we expect two to three months for launching this new contract. | — | Going forward, we expect more competitive prices on the exchange in the coming months. | And that is why I said if the demand increases by 7% to 8%, we expect volume growth of more than 15% on the exchange platform. | Even on this 1.8 crores number, are we expecting, say, 10% growth in FY '26? | Do we expect more tenders coming in from this? |
| Margin | I understand that you have increased the margin on REC from 2 paisa to 4 paisa, I understand you are charging both sides now, but the revenue for the … | — | — | The PAT grew by 27% YoY with a margin of 63%. | The first one is that you seem to have exercised some cost control, your employee cost is down year-on-year, and even other expenses are down year-on-… | As it is, we are operating at a pretty high margin of almost about 86%, 87%. | What is the revenues, EBITDA and PAT of IGX for FY '25, sorry? | But is the understanding correct that the traders will have no functional reason to prefer IEX and maybe the smaller new exchanges like HPX and PXIL w… |
| People | — | — | Second is there is another set of generators where as per the PPA terms they have to maintain certain utilization in a year so sometimes what happens … | — | — | The output from renewable is almost about 23%, 24%, whereas in case of thermal, the utilization level is almost about 70%, so thermal generation is mu… | — | — |
| Pricing | Is there a way to get price increases and then you have to go to the regulator but under what scenario they would agree the price rise? | — | — | CERC has issued Draft Connectivity and General Network Access Regulations 2022 which will simplify as well as rationalize transmission allocation, tra… | Volume started happening only in 2021 when the transmission pricing regulation was issued and there was an arbitrage available in the DAC market, volu… | — | — | — |
| Revenue growth | Difficult to say this is all depends on the, market factors, demand from the distribution companies, but if generation growth of 6% happen in the coun… | — | — | These regulations will further support growth of power market in the country. | India is expected to register a strong growth of 7% for fiscal 2023 as per the economic survey 2022-2023 and has been identified as the fastest growin… | The next question is, if you look at the volume growth in Q4 versus the revenue growth that IEX has reported, there is a divergence. | So do you see an impact of that on the growth of green market going forward from 8 BU to, let's say, even if we were to take 20% growth, would this ha… | I think we have been achieving a volume growth of 15% to 20% every year. |
What they said they would do
Sentences in which management set an expectation. Each names the speaker and the page of the transcript it came from.
| Date | Quarter | Who | What they said |
|---|---|---|---|
| 2021-10-29 | Q2FY22 | INDIAN ENERGY EXCHANGE | With India’s power consumption expected to grow at 8-9% during FY 2022, we expect a significant growth for the |