Indian Energy Exchange (IEX), India's premier electricity marketplace, has reported robust financial results for the first quarter of fiscal year 2026, while simultaneously unveiling an ambitious decade-long growth strategy. The company's performance and future plans underscore its commitment to capitalizing on the evolving energy landscape in India.

Q1 FY'26 Financial Highlights

IEX has delivered impressive financial results for Q1 FY'26:

• Consolidated revenue stood at ₹184.20 crore, marking a 19.20% year-on-year increase.
• Consolidated Profit After Tax (PAT) reached ₹120.70 crore, up 25.20% from the same quarter last year.
• The company's electricity trading volume grew to 32.40 billion units (BU), representing a 14.90% year-on-year increase.

Operational Performance

The company's operational metrics also showed significant improvement:

• Renewable Energy Certificates (RECs) trading volume surged by 149.30% year-on-year, with 52.70 lakh RECs traded during Q1 FY'26.
• The Day Ahead Market (DAM) saw a 45.20% year-on-year increase in supply liquidity, leading to more competitive pricing.
• Average prices in the DAM decreased by 16.00% year-on-year to ₹4.41/unit, while the Real-Time Market (RTM) prices declined by 20.00% to ₹3.91/unit.

Long-Term Growth Strategy

IEX has outlined a comprehensive decade-long growth strategy focused on several key areas:

1. Capitalizing on Increasing Power Demand: With India's power consumption expected to grow significantly, IEX is positioning itself to meet the rising demand through its efficient marketplace.

2. Leveraging Energy Market Reforms: The company plans to benefit from ongoing and upcoming regulatory changes in the power sector, including the implementation of market coupling and new product introductions.

3. Product Innovation: IEX aims to introduce new products and services to cater to the evolving needs of the energy market, particularly in renewable energy integration.

4. Renewable Energy Integration: The company is focusing on facilitating the integration of renewable energy sources into the grid, aligning with India's clean energy goals.

5. Volume Expansion: IEX targets significant growth in trading volumes, supported by favorable policy environment and increasing adoption of power exchanges.

Regulatory Developments

The Central Electricity Regulatory Commission (CERC) has issued an order to implement market coupling in a phased manner:

• Coupling of Day-Ahead Market (DAM) of power exchanges to be implemented by January 2026.
• Power exchanges will act as Market Coupling Operators (MCO) on a rotational basis.
• Further exploration of market coupling in Real-Time Market (RTM) and Term-Ahead Market (TAM) segments through shadow pilots and regulatory consultations.

Management Commentary

Satyanarayan Goel, Chairman & Managing Director of IEX, commented on the results and strategy: "Our strong Q1 performance reflects the growing importance of power exchanges in India's energy landscape. Our decade-long growth strategy is designed to capitalize on the increasing power demand, ongoing market reforms, and the shift towards renewable energy. We are confident that IEX will play a pivotal role in shaping India's energy future."

As IEX continues to strengthen its position in the Indian power market, the company's focus on innovation, market reforms, and renewable energy integration is expected to drive its growth in the coming years. The implementation of market coupling and other regulatory changes could further enhance the efficiency and transparency of power trading in India, benefiting both producers and consumers in the long run.

Indian Energy Exchange Limited (IEX), India's premier electricity marketplace, has announced robust financial results for the first quarter, demonstrating strong growth across key metrics.

Financial Highlights

IEX reported a significant increase in profitability for the quarter:

• Consolidated profit after tax reached ₹120.70 crore, marking a substantial 25.20% year-on-year growth compared to ₹96.44 crore in the same quarter last year.
• Consolidated revenue stood at ₹184.20 crore, representing a 19.20% increase from ₹154.50 crore in the corresponding quarter.
• On a standalone basis, IEX achieved a profit of ₹113.04 crore, up 21.00% from ₹93.42 crore in the corresponding quarter of the previous year.
• Standalone revenue from operations rose to ₹139.99 crore, compared to ₹123.56 crore in the same period last year.

Operational Performance

• Total electricity volume: 32.40 billion units (BU), reflecting a robust 15.00% year-on-year growth.
• Renewable Energy Certificates (RECs) trading saw exceptional growth, with 52.70 lakh certificates traded, marking a substantial 149.30% increase compared to the same period last year.

Market Dynamics

• India's electricity consumption reached 446 billion units, a marginal 1.30% decrease compared to the same quarter last year.
• Day Ahead Market (DAM) price averaged ₹4.41 per unit, a decline of nearly 16.00% year-on-year.
• Real-Time Market (RTM) price averaged ₹3.91 per unit, down 20.00% compared to the same quarter last year.

Subsidiary and Associate Performance

International Carbon Exchange (ICX)

• Issued over 44 lakh I-RECs (International Renewable Energy Certificates)
• Reported revenue of ₹1.79 crore for the quarter

Indian Gas Exchange (IGX)

• Traded a record gas volume of 24.60 million MMBtu, representing a 109.00% growth over the same quarter last year
• Profit after tax stood at ₹14.10 crore, an 86.70% increase from ₹7.60 crore in the same quarter last year

Corporate Developments

IEX's Board of Directors approved the appointment of M/s MNK and Associates LLP as the company's Secretarial Auditors for a term of five consecutive years, subject to shareholder approval at the upcoming Annual General Meeting.

Additional Information

• Basic earnings per share for the quarter stood at ₹1.27 for standalone results and ₹1.36 for consolidated results.
• During the quarter, 50,540 employee stock options were exercised.

Conclusion

With its strong financial performance and growing market presence, Indian Energy Exchange Limited continues to solidify its position as a leader in India's power trading sector. The company's ability to adapt to market conditions and capitalize on opportunities in both the electricity and gas markets demonstrates its resilience and potential for continued growth.