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IEX.NS

Indian Energy Exchange Ltd.

Financial Services
Price research

Price history

1M window · 2026-08-24 to 2026-09-23

Start 2026-08-24 ₹123.01
End 2026-09-23 ₹113.16
Change over window -8.01%
Methodology

Price is the daily close from stored Kite history. The other metrics pair that daily price with the company's periodic filings — each fundamental (revenue, EPS, equity…) is held flat at its latest filed value between annual filings, so a ratio steps at each filing and moves daily only through its price term. A metric with no input on file for this company (e.g. EV/EBITDA for a bank, which has no EBIT) is shown as unavailable, never guessed. Share-count-based metrics use the latest diluted share count against split/bonus-adjusted prices.

Technical analysis

Technical indicators

Same window as the price chart above

These reflect only the stock's recent price and volume behavior — not the company's fundamentals — and are not a recommendation to buy or sell. Standard published parameters are used throughout (see each chart's own label); a company with too little stored price history for a given indicator's lookback window shows that plainly below rather than a garbage or misleading value.

Latest value of each line in the charted window
Methodology

MACD (12,26,9), Stochastic Oscillator (14,3) and Money Flow Index (14-day) each carry their own published reference lines/bands (20/80 for the oscillator readings) where one is standard. ADX includes +DI/-DI for direction alongside trend strength; a dashed line marks the commonly published 25 "trending market" reading. ATR is shown in raw rupees here; the price/volume preset screen (below, and on the Screener page) reports it as a % of price so it's comparable across stocks at different price levels. Computed from the same stored daily OHLCV history as the price chart above — no new data source.

Ratios as of FY2025-26 Annual filing · published 2026-04-23
Price (live) ₹112.90 INR fetched 2026-09-23 02:20
Fundamental analysis

Ratios

Calculated from this company's filed figures, and from the current price where a ratio needs one. Every ratio shows its source trace: the filed elements it reads and the arithmetic behind the result.

P/E

20.41

P/E = Price / EPS

Source trace FY2025-26 · Annual filing

P/E = Price / (ProfitOrLossAttributableToOwnersOfParent / PaidUpValueOfEquityShareCapital ÷ FaceValueOfEquityShareCapital) → ₹112.90 / (₹4,929,212,000 / 890,895,000 shares) = ₹112.90 / ₹5.53 EPS

ROE

36.12%

ROE = Net Income / Shareholder Equity

Source trace FY2025-26 · Annual filing

ROE = ProfitOrLossAttributableToOwnersOfParent / EquityAttributableToOwnersOfParent → ₹4,929,212,000 / ₹13,645,628,000 = 36.12%

Debt/Equity

0.00

Debt/Equity = Total Debt / Shareholder Equity

Source trace FY2025-26 · Annual filing

Debt/Equity = BorrowingsCurrent + BorrowingsNoncurrent / EquityAttributableToOwnersOfParent → ₹0 / ₹13,645,628,000 = 0.00

Current Ratio

2.00

Current Ratio = Current Assets / Current Liabilities

Source trace FY2025-26 · Annual filing

Current Ratio = CurrentAssets / CurrentLiabilities → ₹20,322,296,000 / ₹10,185,298,000 = 2.00

ROCE

46.03%

ROCE = EBIT / (Shareholder Equity + Total Debt)

Source trace FY2025-26 · Annual filing

ROCE = ProfitBeforeExceptionalItemsAndTax + FinanceCosts / (EquityAttributableToOwnersOfParent + BorrowingsCurrent + BorrowingsNoncurrent) → ₹6,280,511,000 / (₹13,645,628,000 + ₹0) = 46.03%

Dividend Yield

2.65%

Dividend Yield = (Dividends Paid / Diluted Shares Outstanding) / Price

Qualification This is cash paid during the fiscal year, not a per-share rate declared for it (no such element exists in the filing data) — timing can straddle interim/final dividends across years, and pre-FY2020-21 figures may include the since-abolished Dividend Distribution Tax, reading higher than later years for that reason alone.

Source trace FY2025-26 · Annual filing

Dividend Yield = (|DividendsPaidClassifiedAsFinancingActivities| / PaidUpValueOfEquityShareCapital ÷ FaceValueOfEquityShareCapital) / Price → (₹2,669,987,000 / 890,895,000 shares) / ₹112.90 = ₹3.00 / ₹112.90

Growth & quality

Growth & earnings trend

Computed from this company's stored annual filings. Each figure carries the filed values behind it as a tooltip.

Revenue CAGR · 3y 14.1%
Net profit CAGR · 3y 19.1%
Operating margin · FY2025-26 102.0%
ROCE · FY2025-26 46.0%

Revenue & Profit CAGR

Revenue (3y, 5.0y actual)
14.1%
Net Profit (3y)
19.1%
Revenue (5y, 5.0y actual)
14.1%
Net Profit (5y)
19.1%
Revenue (10y, 5.0y actual)
14.1%
Net Profit (10y)
19.1%

Operating Margin Trend

Expanding
FY2020-21
85.7%
FY2021-22
92.8%
FY2022-23
97.5%
FY2023-24
102.0%
FY2024-25
102.8%
FY2025-26
102.0%

ROCE Trajectory

FY2020-21
N/A
FY2021-22
N/A
FY2022-23
48.9%
FY2023-24
47.1%
FY2024-25
48.6%
FY2025-26
46.0%

Earnings Quality

⚠ Persistent profit/cash gap

Net Profit CAGR 12.36% vs CFO CAGR -13.20% over 4.0y (2022-03-31 → 2026-03-31); most recent year: Net Profit +14.85% vs CFO +1.29%

Sector-Relative Percentile

Sector · Financial Services
ROE 97th percentile Better than 85 of 88 sector peers (97th percentile).
ROCE 94th percentile Better than 58 of 62 sector peers (94th percentile).
Debt/Equity 100th percentile Better than 88 of 88 sector peers (100th percentile).
P/E 56th percentile Better than 49 of 88 sector peers (56th percentile).
Forensic accounting

Beneish M-Score

Eight year-over-year accounting indices (Beneish, 1999) computed for Indian Energy Exchange Ltd. across its two most recently stored annual filings. Read the disclosures below before anything past this paragraph.

This is not an accusation and not a finding that any manipulation occurred. Beneish's own paper is explicit that the score identifies companies whose accounting CHARACTERISTICS resemble those of a sample of past manipulators -- nothing more. StockProof never labels a company "manipulator", "red flag" or "suspicious", and never shows any list of companies ordered by this score. The eight components below -- factual statements about figures the company itself filed -- always come before the composite number, which is the inference, not the fact.

The M-Score is calibrated on 74 US-listed companies from 1982-1992 later found to have manipulated earnings (Beneish, M. D. (1999), "The Detection of Earnings Manipulation", Financial Analysts Journal 55(5)) -- not on any Indian company or era. Measured on StockProof's own Nifty 500 universe as of 2026-09-02, 13.6% of companies score above Beneish's own published cutoff. On any realistic base rate of actual earnings manipulation, that flag rate is overwhelmingly false positives, not overwhelmingly real ones.

No "Selling, General & Administrative Expense" element exists anywhere in NSE's filed data. The SGAI component below is approximated as Employee Benefit Expense + Other Expenses, divided by revenue -- a reasonable stand-in for a manufacturer, but for a services company this proxy is closer to the entire cost base than to SG&A specifically. This is disclosed because it is a genuine deviation from Beneish's published specification; its coefficient (-0.172) is the smallest of the eight, which bounds how far the approximation can move the composite.

This measures something different from a financial-distress score like Altman's Z-Score, and the two essentially never agree. Measured on StockProof's own 389-company overlap as of 2026-09-02: only 5 companies were flagged by both, an agreement rate (intersection ÷ union) of 6.2%, and a correlation between the two scores of +0.088 -- closely matching the independently measured +0.092 over 3,242 Malaysian-listed companies. A low Z-Score and a high M-Score are not corroborating each other; they are unrelated measurements.

Comparing FY2024-25FY2025-26

Index Value Beneish's own threshold Reading, vs. that threshold
DSRI — Days' Sales in Receivables Index 0.658 1.031 Below Beneish's published threshold
GMI — Gross Margin Index N/A 1.014 The derived gross margin for 2026-03-31 (100.0%) is a degenerate (≥95%) reading, typical of a services filer with little or no tagged material/inventory cost -- GMI is not computable, not clamped to a plausible range.
AQI — Asset Quality Index 0.565 1.039 Below Beneish's published threshold
SGI — Sales Growth Index 1.146 1.134 Exceeds Beneish's published threshold
DEPI — Depreciation Index 1.307 1.077 Exceeds Beneish's published threshold
SGAI — SG&A Index 0.998 1.041 Below Beneish's published threshold
LVGI — Leverage Index 0.913 1.111 Below Beneish's published threshold
TATA — Total Accruals to Total Assets 0.025 0.018 Exceeds Beneish's published threshold

Composite M-Score not computable — 1 of 8 indices could not be computed from the data on file (GMI), and the M-Score is a single weighted equation -- dropping a term would yield a different, uncalibrated score rather than a smaller valid one, so no composite is shown. The components that WERE computable are still shown individually below.

Financials

Quarterly trend

10 stored quarters

Revenue Net Profit Net Profit (loss quarter)
Metric (to shareholders basis) Q4 FY2023-24 Q1 FY2024-25 Q2 FY2024-25 Q3 FY2024-25 Q4 FY2024-25 Q1 FY2025-26 Q2 FY2025-26 Q3 FY2025-26 Q4 FY2025-26 Q1 FY2026-27 Source
Revenue ₹121.28 Cr. ₹123.56 Cr. ₹139.40 Cr. ₹132.05 Cr. ₹142.25 Cr. ₹141.75 Cr. ₹153.92 Cr. ₹145.67 Cr. ₹174.30 Cr. ₹157.88 Cr. RevenueFromOperations
Net Profit ₹96.69 Cr. ₹96.44 Cr. ₹108.32 Cr. ₹107.29 Cr. ₹117.11 Cr. ₹120.70 Cr. ₹123.35 Cr. ₹119.11 Cr. ₹129.77 Cr. ₹134.76 Cr. ProfitOrLossAttributableToOwnersOfParent
Basis

Primary figures are Revenue from Operations and Net Profit attributable to shareholders — the basis the ratios use. Where they differ, the companion Gross revenue (incl. inter-segment) and incl. minority net profit (the totals a news headline usually quotes) are shown beneath, each traceable to its own XBRL element. Quarters shown are however many are actually stored (up to 10).

Ownership

Shareholding pattern

Latest filing Jun 2026 · 12 filings on file

Promoter & Promoter Group
0.00%
Public
99.73%
Employee Trusts
0.27%
Promoter % Public %
Metric Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
Promoter & Promoter Group 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Public 99.72% 99.72% 99.72% 99.72% 99.72% 99.72% 99.73% 99.73% 99.73% 99.73% 99.73% 99.73%
Employee Trusts 0.28% 0.28% 0.28% 0.28% 0.28% 0.28% 0.27% 0.27% 0.27% 0.27% 0.27% 0.27%
Source

Promoter vs. public shareholding, from NSE's own quarterly shareholding-pattern filings. This is the headline promoter/public split only — a further breakdown by FII/DII/mutual fund holders requires each filing's own detailed disclosure and isn't shown here.

Trading activity

Delivery volume

20 trading days shown

Latest (2026-09-23) 44.3%
Trailing 20-day average 48.6%
Date Traded Qty Delivery Qty Delivery %
2026-09-23 1437722 636173 44.25%
2026-09-22 4454976 2494950 56.00%
2026-09-21 1812910 893435 49.28%
2026-09-18 2248423 1272926 56.61%
2026-09-17 2083997 928092 44.53%
2026-09-16 3302102 1187392 35.96%
2026-09-15 5438969 2852281 52.44%
2026-09-11 6657040 2985507 48.81%
2026-09-10 2469793 1166429 47.23%
2026-09-09 3287242 1432495 43.58%
2026-09-08 4316644 2037496 47.20%
2026-09-07 3730649 2203414 59.06%
2026-09-04 11547227 4426507 38.33%
2026-09-03 1683930 737768 43.81%
2026-09-02 3975640 2306529 58.02%
2026-09-01 2633916 1344204 51.03%
2026-08-31 3053129 1610305 52.74%
2026-08-28 1550661 748964 48.30%
2026-08-27 2063529 921115 44.64%
2026-08-26 3923536 1970552 50.22%
Source

Delivery quantity/percentage from the NSE bhavcopy (DELIV_QTY/DELIV_PER) — the share of that day's traded volume that actually settled into a demat account, rather than being squared off intraday. A higher delivery percentage is commonly read as genuine accumulation/distribution rather than speculative same-day trading; this describes recent trading PATTERN, not the company itself, and is not a recommendation to buy or sell. A blank cell is a day NSE itself published no figure for, never a zero.

Insider trading activity

20 disclosures shown

Disclosed Person Category Type Mode Quantity Value (₹) Resulting stake Source
20 Jun 2025 Dhruv Dhiman Employees/Designated Employees Buy ESOP 6250 881250 0.00% XBRL
11 Jun 2025 Dalmia Cement (Bharat) Limited Other Sell Market Sale 9673486 1995544668 0.16% XBRL
11 Jun 2025 Dalmia Cement (Bharat) Limited Other Sell Market Sale 1000000 202132700 0.05% XBRL
06 Jun 2025 Dalmia Cement (Bharat) Limited Other Sell Market Sale 1085500 218336927 2.37% XBRL
06 Jun 2025 Dalmia Cement (Bharat) Limited Other Sell Market Sale 10000962 2009293275 1.25% XBRL
05 Jun 2025 Dalmia Cement (Bharat) Limited Other Sell Market Sale 2500000 502256168 2.49% XBRL
05 Jun 2025 Dalmia Cement (Bharat) Limited Other Sell Market Sale 3439584 691026184 2.77% XBRL
03 Jun 2025 Dalmia Cement (Bharat) Limited Other Sell Market Sale 5107712 1024862413 3.16% XBRL
03 Jun 2025 Dalmia Cement (Bharat) Limited Other Sell Market Sale 3922869 788261297 3.73% XBRL
20 May 2025 RAVINDRA V Employees/Designated Employees Buy ESOP 5000 700000 0.00% XBRL
08 May 2025 Zahid Maqbool Paul Employees/Designated Employees Buy ESOP 3750 528750 0.00% XBRL
08 May 2025 Ravi Seth Employees/Designated Employees Buy ESOP 7500 1057500 0.00% XBRL
08 May 2025 Aparna Vyas Garg Employees/Designated Employees Buy ESOP 6000 846000 0.00% XBRL
20 Sep 2024 Mayank Gupta Employees/Designated Employees Buy ESOP 12000 1572000 0.00% XBRL
06 Sep 2022 Sangh Gautam Employees/Designated Employees Buy ESOP 120000 5760000 0.02% XBRL
30 Jun 2022 Samir Prakash Employees/Designated Employees Buy ESOP 60000 3360000 0.01% XBRL
07 Mar 2022 Amit Kumar Employees/Designated Employees Buy ESOP 30000 1620000 0.00% XBRL
17 Feb 2022 Amit Kumar Employees/Designated Employees Buy ESOP 30000 1620000 0.00% XBRL
04 Feb 2022 Sangh Gautam Employees/Designated Employees Buy ESOP 60000 2880000 0.01% XBRL
04 Feb 2022 Amit Kumar Employees/Designated Employees Buy ESOP 30000 1620000 0.00% XBRL
About these disclosures

SEBI PIT (Prohibition of Insider Trading) Regulation 7 disclosures — designated persons (promoters, directors, KMPs, and their immediate relatives) reporting their own dealing in the company's securities, as NSE publishes them. Distinct from the SAST (Regulation 29 substantial-acquisition) filings on the market-wide SAST activity page. Public record only — this is descriptive disclosure data, not a signal, and is not a recommendation to buy or sell.

Filings & evidence

Source documents

FY2025-26 · Annual filing

The raw filing line items behind the figures on this page, and NSE's own filing document where NSE publishes one.

Source document — income statement (FY2025-26, raw filing line items)
Line itemFiled value
ProfitOrLossAttributableToOwnersOfParent4929212000.0
PaidUpValueOfEquityShareCapital ÷ FaceValueOfEquityShareCapital890895000.0
Source document — balance sheet (FY2025-26, raw filing line items)
Line itemFiled value
CurrentAssets20322296000.0
CurrentLiabilities10185298000.0
EquityAttributableToOwnersOfParent13645628000.0
BorrowingsCurrent + BorrowingsNoncurrent
Research notes

My notes