Q3 2026 Indian Energy Exchange Ltd Earnings Call Transcript
Key Points
- Indian Energy Exchange Ltd (NSE:IEX) recorded a 12% year-on-year growth in electricity trading volume for Q3 FY26, reaching 34.1 billion units.
- The company's revenue grew by 14% year-on-year, increasing from Rs. 160.5 crores in Q3 FY25 to Rs. 183.1 crores in Q3 FY26.
- Profit after tax increased by 11% year-on-year, rising from Rs. 107.3 crores in Q3 FY25 to Rs. 119.1 crores in Q3 FY26.
- The Board of Directors announced an interim dividend of Rs. 1.5, equivalent to 150% of the face value of the equity share.
- The Indian Gas Exchange (IGX) saw a 46% year-on-year growth in traded gas volumes for the nine months ending December FY26.
- Electricity demand during Q3 FY26 remained flat at 392 billion units due to a prolonged monsoon in 2025.
- Renewable energy certificate trading volumes decreased in Q3 FY26, with 18.6 lakh certificates traded compared to 27 lakh in Q3 FY25.
- The average day-head market price dropped by 13.2% year-on-year to Rs. 3.22 per unit, indicating a decrease in price levels.
- The REC volume growth has been in low single digits for the nine-month period, despite increased RPO obligations.
- Concerns were raised about the potential impact of market coupling on the company's operations, with ongoing regulatory discussions.
Ladies and gentlemen, good day and welcome to Indian Energy Exchange Q3 FY26 Results Call hosted by Access Capital Limited. (Operator Instructions) Please note that this conference is being recorded. I now hand the conference over to Rohan Ghiwala from Access Capital Limited. Thank you and over to you, sir.
Thank you. Good evening, ladies and gentlemen. On behalf of Axis Capital, I'm pleased to welcome you all to the IEX Q3 F526 Earnings Conference Board. We have with us the management team of IEX, which is represented by Mr. Rohit Pachaj, Joint Managing Director; Mr. SN Goel, Chairman and Managing Director; Mr. Vineet Harlalkar, Chief Financial Officer; Mr. Amit Kumar, Head of Market Operations, New Product Initiatives and Exchange Technology; and Mr. Parna Garg, Head, Investor Relations and Corporate Communications. We will begin with the opening remarks from Mr. Rohit Bajaj, followed by an interactive Q&A session. Thank you, and over to you, sir.
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