Indian Energy Exchange
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Indian Energy Exchange (IEX) investor relations material

Indian Energy Exchange Q3 25/26 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 25/26 earnings summary30 Jan, 2026

Executive summary

  • Q3 FY 2026 electricity trading volume rose 12% YoY to 34.1 BU, with 9M volume up 14.3% YoY to 102 BU, demonstrating robust business model and financial strength.

  • Revenue and profit after tax grew double digits YoY in Q3, with consolidated revenue at ₹495.2 crore and PAT at ₹123.3 crore, reflecting stable margins.

  • Renewables now contribute 27% to India's generation mix, with significant capacity additions and regulatory support accelerating the energy transition.

  • Diversification into gas, carbon, and upcoming coal exchanges, with IGX volumes and client base expanding.

  • Board approved unaudited financial results and declared an interim dividend of ₹1.5 per share for FY 2025-26.

Financial highlights

  • Consolidated revenue for Q3 FY26 reached ₹495.2 crore, up from ₹430.5 crore in Q3 FY25; standalone revenue was ₹14,390.45 lakhs.

  • PAT for Q3 was ₹123.3 crore; standalone net profit was ₹11,508.92 lakhs, and consolidated net profit at ₹11,910.52 lakhs.

  • Profit after tax for 9M rose 16.4% YoY to INR 363.1 crore.

  • Transaction fees comprised 76% of revenue in Q3 FY26, with other income at 21%.

  • Cash and cash equivalents stood at INR 1,500 crore as of December 31, 2025.

Outlook and guidance

  • Power exchange expects 15%-20% annual growth, gas exchange targets 25%-30% growth over next 4-5 years.

  • Power demand projected to reach 2,300 BU by FY30, with peak demand of 366 GW by 2032.

  • Regulatory changes and new products (e.g., Green RTM, capacity markets, VPPAs) to drive further market deepening.

  • Carbon exchange market expected to start post-regulatory framework, with significant opportunity anticipated.

  • Interim dividend of ₹1.5 per share declared, with record date set for February 4, 2026.

Elaborate on Labour Codes' non-material impact
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Explain the significant rise in other income
Market coupling: next regulatory steps?
Impact of REC deposit option on market volumes?
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Frequently asked questions

Indian Energy Exchange Limited (IEX) operates as a premier energy trading platform in India, facilitating the buying and selling of electricity. As a critical component of the Indian power sector's infrastructure, IEX provides a transparent and efficient platform for the trading of electricity, renewable energy certificates, and energy-saving certificates. The exchange plays a role in balancing demand and supply in the power market, offering various products such as day-ahead, term-ahead, and real-time market trading. By enabling market participants, including power producers, distributors, industries, and commercial entities, to trade electricity, IEX contributes to the optimization of resource allocation and price discovery in the energy market. The company is headquartered in New Delhi and its shares are listed on the National Stock Exchange of India (NSE) and Bombay Stock Exchange (BSE).

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