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India
Reported ownership for FY2027-Q1 as of 2026-06-30.
As of 06 Nov 2026, 03:30 pm
For the quarter ended September 30, 2026, IEX reported electricity trading volume of 39.7 billion units (up 12.7% YoY), revenue of INR 203 crores (up 10.7%), and profit after tax of INR 139 crores (up 12.9%). Half-year volume reached 77 billion units (up 14.2%). These figures were disclosed in transcripts filed on November 5, 2026.
In October 2026, total electricity traded volume rose 16.5% YoY to 13.1 billion units. Real-Time Market volume surged 23.7% to 5.7 BU, while Day-Ahead Contingency and Term-Ahead Market volume jumped 138.8%. Conversely, Day-Ahead Market volume fell 3.8%, and Green Market volume declined 30%. The press release attributed rising demand and prices to El Niño conditions.
IGX traded 42 million MMBtu in Q2 FY27, up 160%, with a PAT of INR 23.4 crores. However, PNGRB requires IEX's holding in IGX to fall from 47.3% to 25% by end-December 2026. IGX’s DRHP for an IPO was filed in July 2026, pending this divestment compliance.
As of November 6, 2026, IEX closed at ₹109.50, down 2.4% from the previous close. Daily trend indicators are bullish, but weekly and monthly trends remain bearish. Key resistance lies near ₹110.11 and ₹111.15, while support is noted at ₹108.88. The stock has experienced a maximum drawdown of -52.0% historically.
As of 06 Nov 2026, 03:30 pm
Showing 3 of 11 candles
Recent drawdown or price variability is materially high and may lead to larger short-term outcomes.
Primary driver: Price remains materially below a previous peak
The session opened materially below the previous close, indicating a sharp repricing at the open.
The price gap may increase short-term downside uncertainty and warrants review of the underlying context.
Trading activity was substantially higher than usual and the price closed higher.
This may reflect stronger-than-usual market participation; follow-through and relevant company or market news merit review.
Downward price movement of 2.79 standard deviations recorded on 2026-10-30.
Unusual market activity that may warrant review of the underlying price, volume, or news context.
The session opened materially below the previous close, indicating a sharp repricing at the open.
The price gap may increase short-term downside uncertainty and warrants review of the underlying context.
Latest complete financial results for Q2 FY27 and comparative quarterly trends.
| Metric | Q2 FY26 | Q1 FY27 | Q2 FY27(Latest) |
|---|---|---|---|
| Revenue From Operations | ₹154 crore | ₹158 crore | PEAK₹167 crore |
| Income | ₹183 crore | ₹203 crore | PEAK₹203 crore |
| Profit Before Exceptional Items And Tax | ₹157 crore | ₹169 crore | PEAK₹170 crore |
| Profit Loss For Period From Continuing Operations | ₹119 crore | ₹127 crore | PEAK₹128 crore |
| Tax Expense | ₹37.8 crore | ₹42 crore | PEAK₹42.2 crore |
| Basic Earnings Loss Per Share From Continuing And Discontinued Operations | ₹1.39 per share | ₹1.52 per share | PEAK₹1.56 per share |
Indian Energy Exchange (IEX) reported Q2 FY2026-27 revenue from operations of ₹167.1 crore, up 8.6% year on year and 5.8% sequentially. Profit for the period increased 12.9% year on year to ₹139.2 crore, while operating cash flow was ₹200.8 crore. Current investments stood at ₹1,871.9 crore at quarter-end, alongside cash and cash equivalents of ₹11.9 crore.
IEX grew revenue and profit year on year, with revenue also recovering sequentially and expenses easing from Q1. Operating cash generation was strong; quarter-end cash was lower than at 31 March while current investments increased, leaving a larger share of the reported liquid assets in investments.
Disclosed bulk and block transactions involving Indian Energy Exchange, shown for the latest 90 days.
Exchange disclosures and regulatory announcements for Indian Energy Exchange.
Indian Energy Exchange Limited uploaded the transcript of its earnings or quarterly call to its website on 5 November 2026 at 18:30. The call concluded on 30 October 2026 at 15:30; prior intimation was disclosed to the Exchange on 23 October 2026. The filing identifies the transcript link as https://www.iexindia.com/investors/financials?year=2026-2027&quarter=Q2.
Indian Energy Exchange Limited (IEX) filed the transcript of its Q2 FY27 earnings conference call held October 30, 2026, covering the quarter ended September 30, 2026. Management reported Q2 FY27 electricity trading volume of 39.7 billion units (up 12.7% YoY), revenue of INR 203 crores (vs INR 183.3 crores in Q2 FY26, up 10.7%), and profit after tax of INR 139 crores (up 12.9% from INR 123 crores). H1 FY27 electricity volume reached 77 billion units (up 14.2%). IGX traded 42 million MMBtu in Q2 FY27 (up 160%) with PAT of INR 23.4 crores; IGX's DRHP for an IPO was filed in July, with PNGRB requiring IEX's holding to fall from 47.3% to 25% by end-December 2026. Management also discussed pending CERC petitions (Term-Ahead contract extension to 11 months, Green RTM contract, Peak DAM/RTM), market coupling status, a buyback under evaluation, and the incorporation of Indian Coal Exchange Limited as a wholly owned subsidiary (license applied in September 2026).
Indian Energy Exchange Limited (IEX) submitted a press release to the NSE and BSE on November 3, 2026, detailing its October 2026 power market performance. The filing reports that IEX achieved a total monthly electricity traded volume of 13.1 billion units (BU), representing a 16.5% year-on-year increase. This growth was driven by a 23.7% surge in Real-Time Market (RTM) volume to 5.7 BU and a 138.8% increase in Day Ahead Contingency and Term-Ahead Market (TAM) volume to 2,175 million units (MU). Conversely, Day-Ahead Market (DAM) volume declined by 3.8% to 4,508 MU, and Green Market volume fell by 30% to 738 MU. The report attributes rising demand and prices to El Niño conditions and below-normal monsoon rainfall, noting that the average DAM clearing price rose 149% YoY to Rs 6.66/unit.
Indian Energy Exchange Limited published its unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2026, in Business Standard (English and Hindi) on October 30, 2026. The results were reviewed by the Audit Committee and approved by the Board of Directors at meetings held October 29, 2026. The newspaper-publication notice is routine; the filing reproduces selected financial figures, but its extracted table does not reliably align all figures with the displayed periods and categories.
Indian Energy Exchange Limited (IEX) filed an intimation with the National Stock Exchange of India Ltd and BSE Limited on October 30, 2026, providing access to the audio recording of a conference call held on the same date. The call was conducted with analysts and investors to discuss the Company's financial results for the quarter ended September 30, 2026. The filing cites compliance with Regulations 30 and 46 read with clause 15 of Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Vineet Harlalka, CFO, Company Secretary & Compliance Officer, digitally signed the communication.
Indian Energy Exchange Limited reported violations of its insider-trading Code of Conduct involving contra trades by two Assistant Vice Presidents in Exchange Technology and their immediate relatives. For Rajesh Kumar Gupta, his immediate relative Sandhya Gupta bought and sold 750 IEX shares on September 15, 2026, for ₹84,833 and ₹86,063, respectively; the filing says the sale on September 21, 2026, was within six months of the purchase. IEX directed Gupta to remit the ₹1,230 profit to SEBI’s Investor Protection and Education Fund and issued him a strict warning letter. For Sunil Vallabhbhai Chauhan and his immediate relative Vallabhbhai Kalyanbhai Chauhan, the filing reports contra-trade sales on September 21, 2026, within six months of March 30, 2026 purchases. Both transactions were at a loss, so no profits were disgorged; IEX issued Chauhan a strict warning letter. The ₹1,230 remittance was made online by UPI on October 30, 2026.
Indian Energy Exchange Limited’s Board approved unaudited standalone and consolidated financial results, along with limited review reports, for the quarter and half year ended September 30, 2026, at its meeting on October 29, 2026. Consolidated revenue from operations was ₹16,709.63 lakh for the quarter and ₹32,497.30 lakh for the half year; consolidated profit for the period was ₹13,923.73 lakh and ₹27,399.40 lakh, respectively. The statutory auditor’s review reports stated that nothing had come to their attention indicating that the results were not prepared in accordance with the applicable requirements or contained a material misstatement. This is a substantive quarterly-results disclosure; the meeting-time and website-availability notices are routine.
Indian Energy Exchange Limited submitted its Investor Presentation for Q2 FY’27 to BSE Limited and the National Stock Exchange of India Ltd on October 29, 2026, under Regulation 30. The presentation reports Q2 FY’27 total revenue of INR 203.0 crore, EBITDA of INR 188.2 crore and PAT of INR 139.2 crore; it also describes market-coupling proceedings, proposed new products and developments in the company’s gas and coal exchange businesses.
Recent market and company developments associated with Indian Energy Exchange.
Indian equities extended their winning streak to a fourth consecutive session, with the Nifty 50 rallying 1.58% to settle at 23,811 as broad-based buying sustained market recovery. Key entities including NSE, SBI, MCX, and Happiest Minds Technologies are in focus following strong quarterly earnings, while other firms like Chambal Fertilisers and Bata India reported mixed results with profit declines or margin contractions despite revenue growth.
Brokerage firm Prabhudas Lilladher has issued a 'Hold' recommendation for Indian Energy Exchange, setting a price target of Rs 112.
Indian Energy Exchange reported a 12.3% year-on-year increase in consolidated PAT to ₹274 crore for H1 FY27, driven by a 14.2% rise in electricity trading volumes. Its subsidiary, Indian Coal Exchange Ltd, has applied for a licence from the Coal Controller Organisation.
IEX shares dropped 4% after reporting in-line Q2 FY27 financial results, prompting divergent analyst reactions where JM Financial and Axis Capital maintained positive outlooks while Ambit Capital initiated a sell call.
Ambit Institutional Equities has identified Tata Power Company, NTPC, JSW Energy, Torrent Power and Power Grid among its preferred power stocks, citing the prospect of another major investment cycle in India's power sector.
Stock-specific action will continue
Rupesh Sankhe, Senior Vice President at Elara Capital, expects stronger Q2 earnings for power companies as electricity demand and coal offtake improve. He prefers NTPC and Tata Power over pure renewable players, while seeing value in IEX after its correction.
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Comprehensive Section Breakdown for Indian Energy Exchange
Strategic Vision: Operates a digital platform for electricity and green energy trading.
• Operates a nationwide automated trading platform regulated by the Central Electricity Regulatory Commission.
• Utilizes a double-sided closed auction bidding system for trade clearance.
• Manages clearing and settlement services for platform transactions.
Revenue from operations rose to ₹167.1 crore in Q2 FY2026-27 from ₹157.9 crore in Q1 FY2026-27 and ₹153.9 crore in Q2 FY2025-26. It remained below the ₹174.3 crore recorded in Q4 FY2025-26. Total income was ₹203.0 crore, broadly unchanged from ₹202.8 crore in Q1; other income was ₹35.9 crore in Q2.
Expenses declined 3.3% quarter on quarter to ₹32.6 crore, but were up 22.2% year on year. Other expenses were ₹12.3 crore, down from ₹12.8 crore in Q1 FY2026-27 and up from ₹8.6 crore in Q2 FY2025-26. Finance costs were ₹67.8 lakh, compared with ₹76.6 lakh in Q1.
Profit before tax was ₹170.3 crore, up from ₹169.1 crore in Q1 FY2026-27 and ₹156.6 crore in Q2 FY2025-26. Tax expense was ₹42.2 crore, versus ₹42.0 crore in Q1. This comprised current tax of ₹44.2 crore and a deferred tax credit of ₹2.0 crore.
Profit from continuing operations was ₹128.2 crore. Profit for the period was ₹139.2 crore, including ₹11.0 crore in the share of profit of associates and joint ventures accounted for using the equity method. Basic and diluted EPS were ₹1.56, compared with ₹1.52 in Q1 FY2026-27 and ₹1.39 in Q2 FY2025-26. Trailing 12-month EPS was ₹5.87.
Operating cash flow was ₹200.8 crore. Investing cash flow was an outflow of ₹45.3 crore, and reported free cash flow was ₹155.6 crore. Financing cash flow was an outflow of ₹181.0 crore.
At 30 September 2026, cash and cash equivalents were ₹11.9 crore, down from ₹37.4 crore at 31 March 2026. Current investments rose over the same dates from ₹1,699.8 crore to ₹1,871.9 crore. Other bank balances were ₹58.9 crore, compared with ₹67.8 crore at 31 March.
Total assets were ₹2,621.6 crore at 30 September 2026, up from ₹2,435.7 crore at 31 March 2026. Equity attributable to owners of the parent increased to ₹1,460.3 crore from ₹1,364.6 crore, while equity share capital remained unchanged at ₹89.1 crore.
Noncurrent investments were ₹269.7 crore, and investments accounted for using the equity method were ₹101.9 crore. Property, plant and equipment was ₹24.7 crore, compared with ₹29.0 crore at 31 March. Noncurrent liabilities were ₹51.4 crore.
Category: B2B Services
The platform hosts trading contracts including Day-Ahead Market (DAM), Real-Time Market (RTM), and Term-Ahead Market (TAM) to facilitate power procurement by distribution companies and industrial consumers.
Key Products & Services: DAM • RTM • TAM
Category: B2B Services
IEX operates a Green Term-Ahead Market (GTAM) and Green Day-Ahead Market (GDAM) supporting trade in solar and non-solar renewable energy.
Key Products & Services: GTAM • GDAM
Category: B2B Services
The platform enables the trading of Renewable Energy Certificates (RECs) and Energy Saving Certificates (ESCerts).
Key Products & Services: RECs • ESCerts
Core Thesis: The company provides a digital trading platform for various energy and certificate markets.
• Electricity Trading: Facilitates power procurement through Day-Ahead, Real-Time, and Term-Ahead Markets. • Green Energy Trading: Supports trade in solar and non-solar renewable energy via GTAM and GDAM. • Certificates Trading: Enables trading of Renewable Energy Certificates and Energy Saving Certificates. • Automated Trading Platform: Operates a nationwide automated trading platform regulated by CERC with a double-sided closed auction bidding system.