NSEI:IEX

Stock Analysis Report

Executive Summary

Indian Energy Exchange Limited operates a power trading platform.


Snowflake Analysis

Solid track record with worrying balance sheet.

Share Price & News

How has Indian Energy Exchange's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: IEX's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-4.0%

IEX

-5.5%

IN Capital Markets

-2.9%

IN Market


1 Year Return

-20.7%

IEX

-39.2%

IN Capital Markets

-29.3%

IN Market

Return vs Industry: IEX exceeded the Indian Capital Markets industry which returned -39.2% over the past year.

Return vs Market: IEX exceeded the Indian Market which returned -29.3% over the past year.


Shareholder returns

IEXIndustryMarket
7 Day-4.0%-5.5%-2.9%
30 Day-25.7%-33.4%-23.7%
90 Day-8.0%-33.3%-28.6%
1 Year-19.2%-20.7%-38.1%-39.2%-27.9%-29.3%
3 Yearn/a-42.8%-45.0%-15.4%-20.0%
5 Yearn/a-24.5%-29.5%-3.3%-8.3%

Price Volatility Vs. Market

How volatile is Indian Energy Exchange's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Indian Energy Exchange undervalued compared to its fair value and its price relative to the market?

23.4x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: IEX (₹130.85) is trading above our estimate of fair value (₹47.96)

Significantly Below Fair Value: IEX is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: IEX is poor value based on its PE Ratio (23.4x) compared to the Capital Markets industry average (8.8x).

PE vs Market: IEX is poor value based on its PE Ratio (23.4x) compared to the Indian market (9.2x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate IEX's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: IEX is overvalued based on its PB Ratio (10x) compared to the IN Capital Markets industry average (0.4x).


Next Steps

Future Growth

How is Indian Energy Exchange forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

20.8%

Forecasted Diversified Financials industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Indian Energy Exchange has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

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

15.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: IEX has high quality earnings.

Growing Profit Margin: IEX's current net profit margins (58.8%) are higher than last year (54.9%).


Past Earnings Growth Analysis

Earnings Trend: IEX's earnings have grown by 15.8% per year over the past 5 years.

Accelerating Growth: IEX's earnings growth over the past year (5.9%) is below its 5-year average (15.8% per year).

Earnings vs Industry: IEX earnings growth over the past year (5.9%) exceeded the Capital Markets industry -6.1%.


Return on Equity

High ROE: IEX's Return on Equity (43.1%) is considered outstanding.


Next Steps

Financial Health

How is Indian Energy Exchange's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: IEX has a low level of unsold assets or inventory.

Debt Coverage by Assets: Insufficient data to determine if IEX's debt is covered by short term assets.


Financial Institutions Analysis

Asset Level: IEX's level of assets compared to its equity is low.

Allowance for Bad Loans: Insufficient data to determine if IEX has a sufficient allowance for bad loans.

Low Risk Liabilities: IEX reports no customer deposits, loans are made up entirely of externally borrowed funds.

Loan Level: Insufficient data to determine if IEX has an acceptable proportion of non-loan assets held.

Low Risk Deposits: IEX has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: Insufficient data to determine if IEX has an appropriate level of bad loans.


Next Steps

Dividend

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

3.77%

Forecast Dividend Yield


Dividend Yield vs Market

Notable Dividend: Unable to evaluate IEX's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate IEX's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if IEX's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if IEX's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: IEX is not paying a notable dividend for the Indian market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of IEX's dividend in 3 years as they are not forecast to pay a notable one for the Indian market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

1.3yrs

Average management tenure


CEO

Satyanarayan Goel (65yo)

0.50

Tenure

₹21,877,000

Compensation

Mr. Satyanarayan N. Goel has been Chairman of Indian Energy Exchange Limited since July 21, 2019 and serves as its Managing Director and Chief Executive Officer since September 18, 2019. Mr. Goel served a ...


CEO Compensation Analysis

Compensation vs Market: Satyanarayan's total compensation ($USD290.25K) is about average for companies of similar size in the Indian market ($USD348.93K).

Compensation vs Earnings: Satyanarayan's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Satyanarayan Goel
MD, CEO & Chairman0.50yr₹21.88m0.0017% 657.5k
Vineet Harlalka
CFO, Compliance Officer & Company Secretaryno data₹8.88m0.066% 25.8m
Samir Prakash
Senior Vice President of HR & Administration1.25yrsno datano data
Shruti Bhatia
Head of Corporate Communications & CSR7.17yrsno data0.0066% 2.6m
Indranil Chatterjee
VP & Chief Risk Officer4.17yrsno data0.00018% 70.4k
Amit Kumar
Senior VP & Product Head1.33yrsno datano data
Rajiv Srivastava
MD, CEO & Whole-time Director0.75yrno datano data
Sangh Gautam
Chief Technology Officer0.58yrno datano data

1.3yrs

Average Tenure

45yo

Average Age

Experienced Management: IEX's management team is not considered experienced ( 1.3 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Satyanarayan Goel
MD, CEO & Chairman0.50yr₹21.88m0.0017% 657.5k
Rajiv Srivastava
MD, CEO & Whole-time Director0.75yrno datano data
Ram Shahi
Chairman of the Advisory Boardno datano datano data
Tejpreet Chopra
Additional Non-Executive Independent Director1yrno datano data
Gautam Dalmia
Non-executive Non-Independent Director1.25yrsno datano data
Ajeet Agarwal
Non-Executive Director7.58yrs₹270.00kno data
Kayyalathu Chacko
Independent Director7.83yrs₹1.71mno data
Sudha Pillai
Additional Non Executive Independent Director0.92yrno datano data

1.0yrs

Average Tenure

62yo

Average Age

Experienced Board: IEX's board of directors are not considered experienced ( 1 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: IEX insiders have sold more shares than they have bought in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Indian Energy Exchange Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Indian Energy Exchange Limited
  • Ticker: IEX
  • Exchange: NSEI
  • Founded: 2007
  • Industry: Financial Exchanges and Data
  • Sector: Diversified Financials
  • Market Cap: ₹39.137b
  • Shares outstanding: 298.19m
  • Website: https://www.iexindia.com

Number of Employees


Location

  • Indian Energy Exchange Limited
  • TDI Centre, Plot No. 7
  • Fourth Floor
  • New Delhi
  • Delhi
  • 110025
  • India

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
540750BSE (Mumbai Stock Exchange)YesEquity SharesININROct 2017
IEXNSEI (National Stock Exchange of India)YesEquity SharesININROct 2017

Biography

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. The company was incorporated in 2007 and is based in New Delhi, India. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/03/29 13:28
End of Day Share Price2020/03/27 00:00
Earnings2019/12/31
Annual Earnings2019/03/31


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.