A deep dive into Indian Energy Exchange (IEX) — examining the financials, valuation picture, and who owns the stock.
Indian Energy Exchange Revenue Trend
Indian Energy Exchange's top line grew 19.6% to ₹537 Cr in FY2025, compared to ₹449 Cr in FY2024.
The 8-year revenue CAGR of 13.2% is a good number — Indian Energy Exchange's top line has expanded meaningfully from ₹199 Cr to ₹537 Cr.
Indian Energy Exchange is a smaller diversified company by revenue, with a top line of ₹537 Cr.
| Year | Revenue | YoY % |
|---|---|---|
| FY2025 | ₹537 Cr | +19.6% |
| FY2024 | ₹449 Cr | +12.0% |
| FY2023 | ₹401 Cr | -7.0% |
| FY2022 | ₹431 Cr | +35.6% |
| FY2021 | ₹318 Cr | — |
View Indian Energy Exchange's full 10-year revenue trend with CAGR analysis →
Indian Energy Exchange Profitability
Earnings came in strong at ₹429 Cr for FY2025, marking a 22.3% gain over the ₹351 Cr posted in FY2024.
Margins moved in the right direction, with net margin rising to 79.9% from 78.1%.
On an EPS basis, the company earned ₹4.83 (diluted) in FY2025 versus ₹3.94 in FY2024.
Is Indian Energy Exchange Undervalued
Per the P/E Ratio model, Indian Energy Exchange has an estimated intrinsic value of ₹205 (66.0% upside).
Indian Energy Exchange shares are currently trading at ₹123.28.
Craytheon also calculates intrinsic value using the EPS Growth and DCF models. The full breakdown with assumptions is available in the detailed analysis.
| Model | Est. Fair Value | vs. Current Price |
|---|---|---|
| P/E Ratio | ₹205 | 66.0% upside to fair value |
| EPS Growth | Upgrade | Upgrade |
| DCF | Upgrade | Upgrade |
See all valuation models for Indian Energy Exchange with detailed assumptions →
Indian Energy Exchange Shareholding Pattern
Indian Energy Exchange is a widely held company with no promoter group. Ownership is distributed across institutional and public shareholders.
The FII stake is at 14.2% as of March 2026, compared to 18.5% in the year-ago period.
The DII stake stands at 30.3% as of March 2026, versus 34.1% in the year-ago period.
| Quarter | Promoter | FII | DII | Public |
|---|---|---|---|---|
| Mar 2026 | 0.0% | 14.2% | 30.3% | 55.3% |
| Dec 2025 | 0.0% | 11.4% | 35.0% | 53.4% |
| Sep 2025 | 0.0% | 13.2% | 36.4% | 50.1% |
| Jun 2025 | 0.0% | 18.5% | 34.1% | 47.1% |
Track quarterly shareholding changes for Indian Energy Exchange →
Indian Energy Exchange Balance Sheet
Proportional view as of 3 Jun 2026. Hover blocks for details.
Assets
Liabilities & Equity
FY2025 total assets: ₹21.97B (up 23.8% YoY from ₹17.74B).
Top categories: Cash & ST Investments (58.5%), Investments (20.8%), Other Assets (16.9%).
Of the ₹21.97B in liabilities and equity, 51.7% is shareholder equity, 0.3% is interest-bearing debt, and 48.0% is operating liabilities. Over the year, debt is down 40.6% and equity is up 16.9%.
Balance sheet composition — FY 2025
| Category | Value |
|---|---|
| Cash & ST Investments | 12.85B |
| Receivables | 26.20M |
| Property, Plant & Equipment | 104.02M |
| Investments | 4.56B |
| Intangibles & Goodwill | 715.84M |
| Other Assets | 3.72B |
| Category | Value |
|---|---|
| Equity | 11.36B |
| Short-term Debt | 41.93M |
| Long-term Debt | 19.62M |
| Trade Payables | 34.95M |
| Other Liabilities | 10.51B |
What Stands Out About Indian Energy Exchange
Here's the bottom line on Indian Energy Exchange (IEX) based on the latest available financials.
Revenue of ₹537 Cr in FY2025, up 19.6% year-over-year.
Long-term revenue has been compounding at 13.2% annually over 8 years.
The company is profitable, with a net margin of 79.9% and net income of ₹429 Cr.
The P/E Ratio model implies 66.0% upside to fair value from the current price. The remaining two models are worth cross-checking before drawing a conclusion — sign up to see the full analysis.
Unlock Full Analysis
There's more to the story. Craytheon's full profile for Indian Energy Exchange includes three valuation models, decade-long financials, and insider activity.