IEX Q4 FY26 call: 24% volume growth, INR 2 dividend, coal exchange push
IEX · price
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Q4 FY26 electricity volumes hit a record 39.4 billion units, up 24.3% YoY. Q4 consolidated revenue rose 12.5% to INR 196.4 crores and PAT grew 10.8% to INR 129.8 crores. Full-year FY26 PAT was up 14.9% at INR 492.9 crores. Board declared a INR 2/share final dividend. RTM volumes jumped 48% and green market grew 27%. Management guided 15–20% annual volume growth. CERC issued draft market coupling rules naming Grid India as operator. IEX Board approved exploring a coal exchange. Buyback is under active consideration.
Strong volumes, profit growth and dividend support sentiment, but ongoing market coupling regulatory uncertainty remains a key overhang.