Indian Energy Exchange (IEX) Q4 22/23 earnings summary

Executive summary

• FY23 consolidated revenue was ₹474.1 crore, PAT ₹305.9 crore, and total traded volume 96.8 BU; volume fell 5% YoY amid constrained power supply.

• Diversification advanced through gas-market growth and the launch of a wholly owned carbon-market subsidiary; technology and new electricity products remained central priorities.

Financial highlights

• Consolidated revenue declined 2.1% YoY to ₹474.1 crore from ₹484.4 crore; PAT declined 0.9% to ₹305.9 crore from ₹308.6 crore.

• Consolidated operating revenue was ₹400.85 crore; other income was ₹73.25 crore, up from ₹53.37 crore in FY22.

• Consolidated PBT was ₹401.8 crore; FY22 included a one-time ₹5.98 crore gain on loss of control of a subsidiary.

• Consolidated basic and diluted EPS were ₹3.42, versus ₹3.45 in FY22.

Outlook and guidance

• Electricity demand is projected to grow ~6% annually through FY30; the draft National Electricity Policy targets exchanges at 25% of electricity consumption by FY30.

• Longer-duration electricity contracts may extend from 90 days to 11 months after General Network Access implementation; cross-border trading is positioned to expand with regional participation.

• Planned adjacencies include carbon-credit trading, peer-to-peer solar trading, and new gas products such as small-scale LNG and LNG trading.