Q4 2026 Indian Energy Exchange Ltd Earnings Call Transcript
Key Points
- Indian Energy Exchange Ltd (NSE:IEX) recorded the highest ever quarterly traded electricity volume of 39.4 billion units in Q4 FY26, marking a 24.3% increase year-on-year.
- The company's consolidated revenue grew by 12.5% year-on-year in Q4 FY26, with profit after tax rising by 10.8%.
- Renewable energy accounted for more than 50% of India's total installed capacity, making India the third largest in terms of renewable capacity globally.
- The CERC issued final guidelines for VPPAs, recognizing power exchanges as authorized platforms for the sale of electricity by RE generators, which should help increase volumes on exchanges.
- The Board of Directors announced a final dividend of INR2 per share, equivalent to 200% of the face value of the equity share, reflecting strong financial performance.
- Imported coal prices averaged nearly $53 per tonne in Q4, a 6.6% increase compared to the same quarter last fiscal year.
- The geopolitical challenges in the Middle East have impacted gas volumes, with potential continued effects in Q1 FY27.
- The implementation of market coupling by Grid India could potentially impact IEX's market share and operational dynamics.
- The company's other income slowed down by about 29% compared to the quarterly run rate over the last four quarters.
- The gas exchange volumes in Q4 FY26 were lower by 8% year-on-year due to supply disruptions in the Middle East.
(audio in progress) Financial year 2026 witnessed an incremental 58 gigawatts of installed capacity across thermal and renewable sources, taking total installed capacity to 533 gigawatts. Renewable energy accounted for more than 50% of the total installed capacity at 275 gigawatts, making India the third largest in terms of renewable capacity globally.
Notably, in FY26, India achieved this milestone of sourcing 50% of its cumulative installed electricity power capacity from renewable sources, five years ahead of the 2030 target. On the fuel side, ample fuel was available at competitive prices. India's coal production reached 322 million tonnes in Q4 FY26. And in FY26, India's coal production recorded 1,041 million tonnes. Coal inventory as of 31 March 2026 stood at 25 days.
According to Ministry of Coal to address any potential energy shortages in the current evolving situation, the national coal stockpile of over 210 million tonnes represents a buffer of nearly three months of energy consumption. While imported coal price during
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