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Indian Energy Exchange

NSEI:IEX
Snowflake Description

Flawless balance sheet with outstanding track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
IEX
NSEI
₹47B
Market Cap
  1. Home
  2. IN
  3. Diversified Financials
Company description

Indian Energy Exchange Limited operates a power trading platform. The last earnings update was 73 days ago. More info.


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IEX Share Price and Events
7 Day Returns
1.4%
NSEI:IEX
-0.6%
IN Capital Markets
0.8%
IN Market
1 Year Returns
-3.4%
NSEI:IEX
-28.4%
IN Capital Markets
-0.7%
IN Market
IEX Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Indian Energy Exchange (IEX) 1.4% -1.8% -1.4% -3.4% - -
IN Capital Markets -0.6% 1.5% -0.8% -28.4% 57.3% 133.1%
IN Market 0.8% 2.8% 5.9% -0.7% 41.2% 72.5%
1 Year Return vs Industry and Market
  • IEX outperformed the Capital Markets industry which returned -28.4% over the past year.
  • IEX underperformed the Market in India which returned -0.7% over the past year.
Price Volatility
Industry
5yr Volatility vs Market

Value

 Is Indian Energy Exchange undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Indian Energy Exchange to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Indian Energy Exchange.

NSEI:IEX Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= ₹9.42 * 44.9%
₹4.22
Book Value of Equity per Share Median Book Value from the past 5 years. ₹9.42
Discount Rate (Cost of Equity) See below 14.6%
Perpetual Growth Rate 10-Year IN Government Bond Rate 7.6%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NSEI:IEX
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year IN Govt Bond Rate 7.6%
Equity Risk Premium S&P Global 8.6%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.73
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.733 (1 + (1- 35%) (0%))
0.821
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.82
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 7.55% + (0.821 * 8.6%)
14.61%

Discounted Cash Flow Calculation for NSEI:IEX using Excess Returns Model Model

The calculations below outline how an intrinsic value for Indian Energy Exchange is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

NSEI:IEX Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (44.9% – 14.61%) * ₹9.42)
₹2.85
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= ₹2.85 / (14.61% - 7.55%)
₹40.31
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= ₹9.42 + ₹40.31
₹49.73
NSEI:IEX Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in NSEI:IEX represents 1.00127x of BSE:540750
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.00127x
Value per Share
(Listing Adjusted, INR)
= Value per Share (INR) x Listing Adjustment Factor
= ₹ 49.73 x 1.00127
₹49.79
Value per share (INR) From above. ₹49.79
Current discount Discount to share price of ₹157.85
= -1 x (₹157.85 - ₹49.79) / ₹49.79
-217%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Indian Energy Exchange is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Indian Energy Exchange's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Indian Energy Exchange's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NSEI:IEX PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in INR ₹5.26
BSE:540750 Share Price ** BSE (2019-04-22) in INR ₹157.65
India Capital Markets Industry PE Ratio Median Figure of 171 Publicly-Listed Capital Markets Companies 14.57x
India Market PE Ratio Median Figure of 2,738 Publicly-Listed Companies 16.33x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Indian Energy Exchange.

NSEI:IEX PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= BSE:540750 Share Price ÷ EPS (both in INR)

= 157.65 ÷ 5.26

29.96x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Indian Energy Exchange is overvalued based on earnings compared to the IN Capital Markets industry average.
  • Indian Energy Exchange is overvalued based on earnings compared to the India market.
Price based on expected Growth
Does Indian Energy Exchange's expected growth come at a high price?
Raw Data
NSEI:IEX PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 29.96x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
12.7%per year
India Capital Markets Industry PEG Ratio Median Figure of 12 Publicly-Listed Capital Markets Companies 1.57x
India Market PEG Ratio Median Figure of 585 Publicly-Listed Companies 1.32x

*Line of best fit is calculated by linear regression .

NSEI:IEX PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 29.96x ÷ 12.7%

2.36x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Indian Energy Exchange is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Indian Energy Exchange's assets?
Raw Data
NSEI:IEX PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in INR ₹9.54
BSE:540750 Share Price * BSE (2019-04-22) in INR ₹157.65
India Capital Markets Industry PB Ratio Median Figure of 267 Publicly-Listed Capital Markets Companies 0.69x
India Market PB Ratio Median Figure of 3,628 Publicly-Listed Companies 1.11x
NSEI:IEX PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= BSE:540750 Share Price ÷ Book Value per Share (both in INR)

= 157.65 ÷ 9.54

16.53x

* Primary Listing of Indian Energy Exchange.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Indian Energy Exchange is overvalued based on assets compared to the IN Capital Markets industry average.
X
Value checks
We assess Indian Energy Exchange's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Capital Markets industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Capital Markets industry average (and greater than 0)? (1 check)
  5. Indian Energy Exchange has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Indian Energy Exchange expected to perform in the next 1 to 3 years based on estimates from 3 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
12.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Indian Energy Exchange expected to grow at an attractive rate?
  • Indian Energy Exchange's earnings growth is expected to exceed the low risk savings rate of 7.6%.
Growth vs Market Checks
  • Indian Energy Exchange's earnings growth is positive but not above the India market average.
  • Indian Energy Exchange's revenue growth is expected to exceed the India market average.
Annual Growth Rates Comparison
Raw Data
NSEI:IEX Future Growth Rates Data Sources
Data Point Source Value (per year)
NSEI:IEX Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 12.7%
NSEI:IEX Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 12.8%
India Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 15.3%
India Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 14.9%
India Market Earnings Growth Rate Market Cap Weighted Average 18.5%
India Market Revenue Growth Rate Market Cap Weighted Average 11.7%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NSEI:IEX Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in INR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NSEI:IEX Future Estimates Data
Date (Data in INR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-03-31 3,574 2,222 2,132 2
2020-03-31 3,120 2,079 1,929 3
2019-03-31 2,642 1,534 1,682 2
NSEI:IEX Past Financials Data
Date (Data in INR Millions) Revenue Cash Flow Net Income *
2018-12-31 2,892 1,586
2018-09-30 2,825 1,522
2018-06-30 2,684 1,422
2018-03-31 2,561 1,312 1,317
2017-12-31 2,563 1,218
2017-09-30 2,440 1,142
2017-06-30 2,366 1,142
2017-03-31 2,329 2,059 1,118
2016-03-31 1,999 886 942

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Indian Energy Exchange's earnings are expected to grow by 12.7% yearly, however this is not considered high growth (20% yearly).
  • Indian Energy Exchange's revenue is expected to grow by 12.8% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NSEI:IEX Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from Indian Energy Exchange Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NSEI:IEX Future Estimates Data
Date (Data in INR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-03-31 7.00 7.30 6.70 2.00
2020-03-31 6.41 6.70 6.10 3.00
2019-03-31 5.67 5.70 5.64 2.00
NSEI:IEX Past Financials Data
Date (Data in INR Millions) EPS *
2018-12-31 5.26
2018-09-30 5.04
2018-06-30 4.76
2018-03-31 4.46
2017-12-31 4.32
2017-09-30 4.11
2017-06-30 4.05
2017-03-31 3.91
2016-03-31 3.40

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Indian Energy Exchange is expected to make outstanding use of shareholders’ funds in the future (Return on Equity greater than 40%).
X
Future performance checks
We assess Indian Energy Exchange's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the India market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the India market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Indian Energy Exchange has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Indian Energy Exchange performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Indian Energy Exchange's growth in the last year to its industry (Capital Markets).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Indian Energy Exchange's year on year earnings growth rate has been positive over the past 5 years.
  • Indian Energy Exchange's 1-year earnings growth exceeds its 5-year average (30.2% vs 12.8%)
  • Indian Energy Exchange's earnings growth has exceeded the IN Capital Markets industry average in the past year (30.2% vs 11.5%).
Earnings and Revenue History
Indian Energy Exchange's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Indian Energy Exchange Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NSEI:IEX Past Revenue, Cash Flow and Net Income Data
Date (Data in INR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 2,891.83 1,586.29 288.58
2018-09-30 2,824.75 1,522.07 296.96
2018-06-30 2,683.54 1,421.94 295.93 -29.82
2018-03-31 2,560.71 1,316.85 281.16
2017-12-31 2,562.67 1,217.95 247.51 105.65
2017-09-30 2,439.54 1,142.15 212.40 157.00
2017-06-30 2,366.28 1,141.81 197.16 -23.22
2017-03-31 2,328.72 1,117.56 182.98
2016-03-31 1,999.48 941.59 172.38 202.02
2015-03-31 1,761.92 797.28 147.78 194.06
2014-03-31 1,739.85 908.80 114.66 196.70
2013-03-31 1,382.19 655.91 98.78 173.29

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Indian Energy Exchange made outstanding use of shareholders’ funds last year (Return on Equity greater than 40%).
  • Indian Energy Exchange used its assets more efficiently than the IN Capital Markets industry average last year based on Return on Assets.
  • Indian Energy Exchange has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Indian Energy Exchange's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Capital Markets industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Indian Energy Exchange has a total score of 6/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Indian Energy Exchange's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Indian Energy Exchange's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Indian Energy Exchange is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Indian Energy Exchange's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Indian Energy Exchange's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Indian Energy Exchange has no debt, it does not need to be covered by short term assets.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Indian Energy Exchange Company Filings, last reported 3 months ago.

NSEI:IEX Past Debt and Equity Data
Date (Data in INR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 2,886.00 0.00 4,123.31
2018-09-30 2,886.00 0.00 4,123.31
2018-06-30 2,837.24 0.00 2,591.61
2018-03-31 2,837.24 0.00 2,591.61
2017-12-31 2,117.54 0.00 2,614.52
2017-09-30 2,117.54 0.00 2,614.52
2017-06-30 3,068.98 0.00 3,062.12
2017-03-31 2,782.15 0.00 4,081.88
2016-03-31 2,709.35 0.00 3,629.92
2015-03-31 2,399.49 0.00 3,378.90
2014-03-31 2,528.84 28.43 2,894.91
2013-03-31 1,715.85 0.00 2,275.82
  • Indian Energy Exchange has no debt.
  • Indian Energy Exchange has no debt compared to 5 years ago when it was 0.9%.
  • Indian Energy Exchange has no debt, it does not need to be covered by operating cash flow.
  • Indian Energy Exchange has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess Indian Energy Exchange's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Indian Energy Exchange has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Indian Energy Exchange's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.4%
Current annual income from Indian Energy Exchange dividends. Estimated to be 4.09% next year.
If you bought ₹2,000 of Indian Energy Exchange shares you are expected to receive ₹28 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Indian Energy Exchange's pays a higher dividend yield than the bottom 25% of dividend payers in India (0.5%).
  • Indian Energy Exchange's dividend is below the markets top 25% of dividend payers in India (1.92%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NSEI:IEX Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
India Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 61 Stocks 1.5%
India Market Average Dividend Yield Market Cap Weighted Average of 1400 Stocks 1.4%
India Minimum Threshold Dividend Yield 10th Percentile 0.3%
India Bottom 25% Dividend Yield 25th Percentile 0.5%
India Top 25% Dividend Yield 75th Percentile 1.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NSEI:IEX Future Dividends Estimate Data
Date (Data in ₹) Dividend per Share (annual) Avg. No. Analysts
2021-03-31 7.00 1.00
2020-03-31 5.90 1.00
2019-03-31 5.00 1.00
NSEI:IEX Past Annualized Dividends Data
Date (Data in ₹) Dividend per share (annual) Avg. Yield (%)
2018-04-26 2.200 1.361
2018-02-02 0.000 0.000
2017-11-08 0.000 0.000
2017-10-23 4.500 2.854

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • It is too early to tell whether Indian Energy Exchange has stable dividend payments.
  • Indian Energy Exchange only just started paying a dividend, it is too early to tell if payments are increasing.
Current Payout to shareholders
What portion of Indian Energy Exchange's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.4x coverage).
Future Payout to shareholders
  • Dividends after 3 years are not well covered by earnings (1x coverage).
X
Income/ dividend checks
We assess Indian Energy Exchange's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.3%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Indian Energy Exchange afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Indian Energy Exchange has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Indian Energy Exchange's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Satyanarayan Goel
COMPENSATION ₹22,742,000
AGE 64
TENURE AS CEO 5.3 years
CEO Bio

Mr. Satyanarayan N. Goel has been the Managing Director and Chief Executive Officer of Indian Energy Exchange Limited since January 21, 2014. Mr. Goel served as the Managing Director and Chief Executive Officer of PTC India Financial Services Ltd from June 27, 2013 to September 27, 2013. He served as Director of Marketing and Operations at PTC India Limited from September 27, 2012 to January 20, 2014. He has 35 years of experience in power sector. He has worked in different areas of power plant such as design & engineering, project execution, operation & maintenance, commercial, business development and coal & gas sourcing. Mr. Goel served as General Manager of NTPC Ltd. In NTPC, he was looking after marketing of entire NTPC power generation capacity, interaction with CERC for tariff fixation and for ensuring 100% realization of dues from customers. During the last two years, he was responsible for sourcing domestic & imported coal and gas for the 35,000 MW capacities of NTPC power stations. Mr. Goel has been actively involved in the formulation and implementation of power sector reform initiatives of the Government of India and development of the power market in India. He served as an Executive Director of NTPC Ltd. and PTC India Financial Services Ltd from June 27, 2013 to September 27, 2013. He has been an Additional Director of Indian Energy Exchange Limited since January 21, 2014 and served as its Non-Executive Director September 16, 2012 until January 20, 2014. He served as an Whole Time Director of PTC India Limited from September 27, 2012 to January 20, 2014. He is an Electrical Engineer with MBA in Finance.

CEO Compensation
  • Satyanarayan's compensation has been consistent with company performance over the past year.
  • Satyanarayan's remuneration is about average for companies of similar size in India.
Management Team Tenure

Average tenure and age of the Indian Energy Exchange management team in years:

4.9
Average Tenure
45.5
Average Age
  • The tenure for the Indian Energy Exchange management team is about average.
Management Team

Satyanarayan Goel

TITLE
MD, CEO & Additional Director
COMPENSATION
₹23M
AGE
64
TENURE
5.3 yrs

Vineet Harlalka

TITLE
CFO, Compliance Officer & Company Secretary
COMPENSATION
₹18M
AGE
44

Pareshnath Paul

TITLE
Chief Technological Officer
AGE
50
TENURE
2 yrs

Shruti Bhatia

TITLE
Vice President of Regulatory Affairs & Communications
AGE
44
TENURE
6.3 yrs

Indranil Chatterjee

TITLE
VP & Chief Risk Officer
AGE
41
TENURE
3.3 yrs

Rohit Bajaj

TITLE
Vice-President of Business Development
AGE
46
TENURE
4.9 yrs

Prasanna Rao

TITLE
Vice-President of Market Operations
AGE
46
TENURE
6.3 yrs

Jainam Vora

TITLE
Vice President of Exchange Technology
AGE
35
TENURE
1.8 yrs

Vaibhav Aggarwal

TITLE
Vice President of Product Engineering
AGE
45
TENURE
1.9 yrs

Akhilesh Awasthy

TITLE
Director of Market Operations
COMPENSATION
₹13M
AGE
54
TENURE
6.7 yrs
Board of Directors Tenure

Average tenure and age of the Indian Energy Exchange board of directors in years:

4
Average Tenure
62
Average Age
  • The tenure for the Indian Energy Exchange board of directors is about average.
Board of Directors

Dinesh Mehrotra

TITLE
Chairman
COMPENSATION
₹3M
AGE
65
TENURE
4 yrs

Satyanarayan Goel

TITLE
MD, CEO & Additional Director
COMPENSATION
₹23M
AGE
64
TENURE
6.5 yrs

Ram Shahi

TITLE
Chairman of the Advisory Board
AGE
73

Kayyalathu Chacko

TITLE
Independent Director
COMPENSATION
₹2M
AGE
71
TENURE
6.9 yrs

Mahendra Singhi

TITLE
Non-Executive Director
AGE
66
TENURE
1.9 yrs

Renuka Ramnath

TITLE
Non Executive Director
AGE
57
TENURE
7.1 yrs

Ajeet Agarwal

TITLE
Non Executive Director
COMPENSATION
₹90K
AGE
58
TENURE
6.7 yrs

Gopal Srinivasan

TITLE
Non-Executive Director
AGE
60
TENURE
2 yrs

Gautam Dalmia

TITLE
Additional Director
AGE
50
TENURE
0.3 yrs

Tejpreet Chopra

TITLE
Additional Non-Executive Independent Director
AGE
49
TENURE
0.1 yrs
Who owns this company?
Recent Insider Trading
  • Indian Energy Exchange insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (₹) Value (₹)
04. Apr 19 Sell Gaurav Maheshwari Individual 29. Mar 19 29. Mar 19 -2,000 ₹165.50 ₹-331,000
04. Apr 19 Sell Rohit Bajaj Individual 01. Apr 19 03. Apr 19 -6,500 ₹166.18 ₹-1,079,810
04. Apr 19 Sell Indranil Chatterjee Individual 02. Apr 19 03. Apr 19 -369 ₹165.91 ₹-61,222
04. Apr 19 Sell Shruti Bhatia Individual 03. Apr 19 03. Apr 19 -4,000 ₹165.47 ₹-661,880
22. Mar 19 Sell Satyanarayan Goel Individual 20. Mar 19 20. Mar 19 -2,000 ₹165.00 ₹-330,000
15. Mar 19 Sell Manoj Pangtey Individual 11. Mar 19 12. Mar 19 -1,000 ₹161.00 ₹-161,000
15. Mar 19 Sell Amit Sharma Individual 13. Mar 19 13. Mar 19 -3,265 ₹165.00 ₹-538,725
15. Mar 19 Sell Shailendra Shukla Individual 13. Mar 19 13. Mar 19 -5,000 ₹164.00 ₹-820,000
15. Mar 19 Sell Sudhir Bharti Individual 12. Mar 19 13. Mar 19 -800 ₹164.87 ₹-131,900
15. Mar 19 Sell Rajesh Mediratta Individual 13. Mar 19 13. Mar 19 -10,000 ₹164.96 ₹-1,649,600
15. Mar 19 Sell Satyanarayan Goel Individual 13. Mar 19 14. Mar 19 -14,514 ₹165.37 ₹-2,400,167
22. Feb 19 Sell Satyanarayan Goel Individual 19. Feb 19 19. Feb 19 -1,000 ₹165.00 ₹-165,000
20. Feb 19 Sell Shilpy Dewan Individual 19. Feb 19 19. Feb 19 -2,800 ₹163.41 ₹-457,548
20. Feb 19 Sell Gaurav Maheshwari Individual 19. Feb 19 19. Feb 19 -1,000 ₹164.89 ₹-164,890
20. Feb 19 Sell Sudhanshu Gupta Individual 19. Feb 19 19. Feb 19 -1,087 ₹164.01 ₹-178,279
20. Feb 19 Sell Sudhir Bharti Individual 18. Feb 19 18. Feb 19 -1,000 ₹160.00 ₹-160,000
20. Feb 19 Sell Rohit Bajaj Individual 18. Feb 19 19. Feb 19 -5,025 ₹162.80 ₹-817,998
20. Feb 19 Sell Indranil Chatterjee Individual 19. Feb 19 19. Feb 19 -2,913 ₹164.26 ₹-478,489
19. Feb 19 Sell Shalabh Shrivastava Individual 13. Feb 19 13. Feb 19 -2,700 ₹167.45 ₹-452,115
19. Feb 19 Sell Shilpy Dewan Individual 13. Feb 19 13. Feb 19 -2,400 ₹167.92 ₹-403,000
19. Feb 19 Sell Manoj Pangtey Individual 13. Feb 19 13. Feb 19 -1,950 ₹167.73 ₹-327,074
19. Feb 19 Sell Gaurav Maheshwari Individual 13. Feb 19 13. Feb 19 -4,000 ₹166.54 ₹-666,160
19. Feb 19 Sell Sudhanshu Gupta Individual 13. Feb 19 15. Feb 19 -3,663 ₹165.49 ₹-605,790
19. Feb 19 Sell Prasanna Rao Individual 14. Feb 19 15. Feb 19 -6,151 ₹160.80 ₹-989,111
19. Feb 19 Sell Rohit Bajaj Individual 13. Feb 19 15. Feb 19 -7,057 ₹162.95 ₹-1,146,338
19. Feb 19 Sell Indranil Chatterjee Individual 14. Feb 19 15. Feb 19 -5,987 ₹161.28 ₹-965,594
19. Feb 19 Sell Rajesh Mediratta Individual 13. Feb 19 13. Feb 19 -8,431 ₹165.00 ₹-1,391,114
19. Feb 19 Sell Shruti Bhatia Individual 13. Feb 19 15. Feb 19 -12,530 ₹168.96 ₹-2,039,819
18. Feb 19 Sell Sudhir Bharti Individual 12. Feb 19 13. Feb 19 -4,000 ₹167.07 ₹-668,300
14. Feb 19 Sell Nitin Makan Individual 11. Feb 19 13. Feb 19 -6,384 ₹167.50 ₹-1,069,326
14. Feb 19 Sell Anuj Jain Individual 12. Feb 19 13. Feb 19 -3,100 ₹163.52 ₹-506,915
14. Feb 19 Sell Kamlesh Jain Individual 12. Feb 19 12. Feb 19 -3,140 ₹167.90 ₹-527,206
14. Feb 19 Sell Vineet Harlalka Individual 12. Feb 19 12. Feb 19 -1,000 ₹168.00 ₹-168,000
17. Jan 19 Sell Satyanarayan Goel Individual 15. Jan 19 15. Jan 19 -5,000 ₹165.36 ₹-826,800
14. Jan 19 Sell Satyanarayan Goel Individual 09. Jan 19 10. Jan 19 -6,500 ₹165.80 ₹-1,077,700
02. Jan 19 Sell Prasanna Rao Individual 31. Dec 18 31. Dec 18 -5,000 ₹169.00 ₹-845,000
27. Dec 18 Sell Ayaz Arbani Individual 26. Dec 18 26. Dec 18 -500 ₹167.00 ₹-83,500
31. Dec 18 Sell Gopalakrishnan Radhakrishnan Individual 28. Dec 18 31. Dec 18 -7,800 ₹164.56 ₹-1,283,530
31. Dec 18 Sell Sudhir Bharti Individual 26. Dec 18 27. Dec 18 -5,000 ₹166.22 ₹-831,120
31. Dec 18 Sell Prasanna Rao Individual 26. Dec 18 28. Dec 18 -15,000 ₹166.73 ₹-2,490,345
27. Dec 18 Sell Ayaz Arbani Individual 24. Dec 18 26. Dec 18 -8,300 ₹169.69 ₹-1,406,244
27. Dec 18 Sell Rajesh Mediratta Individual 24. Dec 18 24. Dec 18 -7,029 ₹170.01 ₹-1,195,021
29. Nov 18 Sell Nitin Srivastava Individual 26. Nov 18 28. Nov 18 -2,244 ₹159.21 ₹-356,216
26. Nov 18 Sell Vaibhav Aggarwal Individual 21. Nov 18 21. Nov 18 -2,500 ₹161.00 ₹-402,500
26. Nov 18 Sell Gopalakrishnan Radhakrishnan Individual 21. Nov 18 21. Nov 18 -2,000 ₹162.50 ₹-325,000
26. Nov 18 Sell Ayaz Arbani Individual 21. Nov 18 22. Nov 18 -700 ₹160.14 ₹-112,100
26. Nov 18 Sell Prasanna Rao Individual 21. Nov 18 22. Nov 18 -5,849 ₹158.80 ₹-928,807
26. Nov 18 Sell Rajesh Mediratta Individual 21. Nov 18 21. Nov 18 -5,000 ₹160.03 ₹-800,135
22. Nov 18 Sell Prasanna Rao Individual 16. Nov 18 20. Nov 18 -5,500 ₹156.51 ₹-860,798
22. Nov 18 Sell Pareshnath Paul Individual 21. Nov 18 21. Nov 18 -19,088 ₹160.51 ₹-3,063,767
16. Nov 18 Sell Gopalakrishnan Radhakrishnan Individual 13. Nov 18 13. Nov 18 -100 ₹160.50 ₹-16,050
16. Nov 18 Sell Ayaz Arbani Individual 13. Nov 18 13. Nov 18 -400 ₹160.13 ₹-64,052
16. Nov 18 Sell Nitin Srivastava Individual 15. Nov 18 15. Nov 18 -756 ₹161.41 ₹-122,026
16. Nov 18 Sell Vaibhav Aggarwal Individual 13. Nov 18 13. Nov 18 -3,000 ₹159.66 ₹-478,980
16. Nov 18 Sell Pareshnath Paul Individual 14. Nov 18 14. Nov 18 -912 ₹162.50 ₹-148,200
29. Oct 18 Sell Vaibhav Aggarwal Individual 24. Oct 18 26. Oct 18 -7,500 ₹160.39 ₹-1,202,959
18. Oct 18 Sell Vaibhav Aggarwal Individual 16. Oct 18 17. Oct 18 -3,000 ₹193.08 ₹-579,250
18. Oct 18 Sell Vaibhav Aggarwal Individual 16. Oct 18 17. Oct 18 -3,500 ₹165.50 ₹-579,250
24. Aug 18 Sell Mritunjay Srivastava Individual 21. Aug 18 21. Aug 18 -4,000 ₹166.75 ₹-667,000
20. Aug 18 Sell Ramanand Culathur Individual 16. Aug 18 16. Aug 18 -19,870 ₹164.00 ₹-3,257,254
06. Jul 18 Sell Rajesh Mediratta Individual 03. Jul 18 03. Jul 18 -1,540 ₹164.90 ₹-253,946
15. Jun 18 Sell Nitin Sabikhi Individual 13. Jun 18 13. Jun 18 -20,000 ₹165.25 ₹-3,305,000
15. Jun 18 Sell Brijesh Narang Individual 13. Jun 18 13. Jun 18 -2,000 ₹165.32 ₹-330,650
15. Jun 18 Sell Rajesh Mediratta Individual 11. Jun 18 13. Jun 18 -43,000 ₹164.09 ₹-7,055,998
15. Jun 18 Sell Akhilesh Awasthy Individual 11. Jun 18 13. Jun 18 -47,480 ₹164.76 ₹-7,822,793
15. Jun 18 Sell Satyanarayan Goel Individual 12. Jun 18 13. Jun 18 -23,850 ₹164.09 ₹-3,913,482
12. Jun 18 Sell Brijesh Narang Individual 07. Jun 18 11. Jun 18 -4,600 ₹160.89 ₹-740,104
01. Jun 18 Sell Satyanarayan Goel Individual 28. May 18 28. May 18 -370 ₹164.00 ₹-60,680
25. May 18 Sell Rajesh Mediratta Individual 22. May 18 22. May 18 -10,110 ₹163.50 ₹-1,652,985
25. May 18 Sell Satyanarayan Goel Individual 22. May 18 25. May 18 -9,380 ₹163.16 ₹-1,530,211
21. May 18 Sell Rajesh Mediratta Individual 15. May 18 18. May 18 -9,890 ₹164.50 ₹-1,624,900
21. May 18 Sell Akhilesh Awasthy Individual 17. May 18 18. May 18 -3,980 ₹164.50 ₹-654,710
18. May 18 Sell Sudhir Bharti Individual 15. May 18 15. May 18 -5,000 ₹162.82 ₹-814,095
18. May 18 Sell Mritunjay Srivastava Individual 16. May 18 18. May 18 -15,050 ₹164.13 ₹-2,470,199
18. May 18 Sell Akhilesh Awasthy Individual 15. May 18 15. May 18 -15,540 ₹164.14 ₹-2,550,766
18. May 18 Sell Satyanarayan Goel Individual 15. May 18 17. May 18 -16,500 ₹163.83 ₹-2,703,151
14. May 18 Sell Prasanna Rao Individual 08. May 18 08. May 18 -3,350 ₹160.23 ₹-536,760
14. May 18 Sell Akhilesh Awasthy Individual 09. May 18 10. May 18 -28,000 ₹163.79 ₹-4,585,995
14. May 18 Sell Satyanarayan Goel Individual 08. May 18 10. May 18 -22,100 ₹162.90 ₹-3,600,192
08. May 18 Sell Prasanna Rao Individual 03. May 18 07. May 18 -16,650 ₹158.16 ₹-2,633,294
X
Management checks
We assess Indian Energy Exchange's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Indian Energy Exchange has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Despite Its High P/E Ratio, Is Indian Energy Exchange Limited (NSE:IEX) Still Undervalued?

Indian Energy Exchange has a price to earnings ratio of 30.09, based on the last twelve months. … How Do I Calculate Indian Energy Exchange's Price To Earnings Ratio … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

Is Indian Energy Exchange Limited (NSE:IEX) Potentially Underrated?

Indian Energy Exchange Limited (NSE:IEX) is a company with exceptional fundamental characteristics. … Upon building up an investment case for a stock, we should look at various aspects. … Below, I've touched on some key aspects you should know on a high level

Simply Wall St -

Who Just Sold Their Shares In Indian Energy Exchange Limited (NSE:IEX)?

some insider selling over the past three months, with insiders divesting from. … Generally, insiders selling shares in their own firm sends a bearish signal. … A two-decade research published in The MIT Press (1998) showed that stocks following insider selling declined 2.7% relative to the market

Simply Wall St -

Is Indian Energy Exchange Limited's (NSE:IEX) PE Ratio A Signal To Sell For Investors?

Indian Energy Exchange Limited (NSE:IEX) is trading with a trailing P/E of 35.7x, which is higher than the industry average of 21.6x. … While this makes IEX appear like a stock to avoid or sell if you own it, you might change your mind after I explain the assumptions behind the P/E ratio. … View our latest analysis for Indian Energy Exchange

Simply Wall St -

How Do Analysts See Indian Energy Exchange Limited (NSE:IEX) Performing Over The Next Year?

Since Indian Energy Exchange Limited (NSE:IEX) released its earnings in March 2018,. … with earnings expected to grow by 23.35% in the upcoming year … the past 5-year average growth rate of 14.22%

Simply Wall St -

What Should We Expect From Indian Energy Exchange Limited's (NSE:IEX) Earnings In The Years Ahead?

The latest earnings release Indian Energy Exchange Limited's (NSE:IEX) announced in March 2018a

Simply Wall St -

Is Indian Energy Exchange Limited (NSE:IEX) Potentially Underrated?

Today I've chosen to put the spotlight on Indian Energy Exchange Limited (NSE:IEX) due to its excellent fundamentals in more than one area. … Below, I've touched on some key aspects you should know on a high level

Simply Wall St -

Does Indian Energy Exchange Limited's (NSE:IEX) PE Ratio Signal A Selling Opportunity?

Formula Price-Earnings Ratio = Price per share ÷ Earnings per share P/E Calculation for IEX Price per share = ₹1480 Earnings per share = ₹43.194 ∴ Price-Earnings Ratio = ₹1480 ÷ ₹43.194 = 34.3x On its own, the P/E ratio doesn’t tell you much; however, it becomes extremely useful when you compare it with other similar companies. … IEX’s P/E of 34.3x is higher than its industry peers (23.7x), which implies that each dollar of IEX’s earnings is being overvalued by investors. … For example, if you accidentally compared lower growth firms with IEX, then IEX’s P/E would naturally be higher since investors would reward IEX’s higher growth with a higher price.

Simply Wall St -

Did Indian Energy Exchange Limited's (NSE:IEX) Recent Earnings Growth Beat The Trend?

Check out our latest analysis for Indian Energy Exchange Could IEX beat the long-term trend and outperform its industry? … Since these values may be relatively short-term, I’ve determined an annualized five-year figure for Indian Energy Exchange's earnings, which stands at ₹884.74M This suggests that, generally, Indian Energy Exchange has been able to gradually improve its profits over the last couple of years as well. … This suggests that any uplift the industry is benefiting from, Indian Energy Exchange has not been able to realize the gains unlike its industry peers.What does this mean?

Simply Wall St -

Does Indian Energy Exchange Limited (NSE:IEX) Have A Place In Your Dividend Portfolio?

Recently, Indian Energy Exchange Limited (NSEI:IEX) has returned an average of 3.00% per year to shareholders in terms of dividend yield. … Check out our latest analysis for Indian Energy Exchange 5 checks you should do on a dividend stock When researching a dividend stock, I always follow the following screening criteria: Is its annual yield among the top 25% of dividend-paying companies? … Relative to peers, Indian Energy Exchange generates a yield of 2.93%, which is high for Capital Markets stocks but still below the market's top dividend payers.Next Steps: After digging a little deeper into Indian Energy Exchange's yield, it's easy to see why you should be cautious investing in the company just for the dividend.

Simply Wall St -

Company Info

Description

Indian Energy Exchange Limited operates a power trading platform. The company enables price discovery and price risk management for participants of the electricity market, including industries eligible for open access. Its products include Day-Ahead-Market, a physical electricity trading market for deliveries for any/some/all 15 minute time blocks in 24 hours of next day starting from midnight; Term-Ahead-Market that provides a range of products allowing participants to buy/sell electricity on intra-day, day-ahead contingency, and daily and weekly contracts; Renewable Energy Certificates to ease the purchase of renewable energy by the state utilities and obligated entities; and Energy Saving Certificates. Indian Energy Exchange Limited was incorporated in 2007 and is based in New Delhi, India.

Details
Name: Indian Energy Exchange Limited
IEX
Exchange: NSEI
Founded: 2007
₹47,167,744,744
297,870,191
Website: http://www.iexindia.com
Address: Indian Energy Exchange Limited
TDI Centre, Plot No. 7,
Fourth Floor,
New Delhi,
Delhi, 110025,
India
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
BSE 540750 Equity Shares Mumbai Stock Exchange IN INR 23. Oct 2017
NSEI IEX Equity Shares National Stock Exchange of India IN INR 23. Oct 2017
Number of employees
Current staff
Staff numbers
116
Indian Energy Exchange employees.
Industry
Financial Exchanges and Data
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/22 13:05
End of day share price update: 2019/04/22 00:00
Last estimates confirmation: 2019/04/08
Last earnings filing: 2019/02/08
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/03/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.