Indian Energy Exchange Limited has informed the Exchange about Transcript of earning call held on April 25, 2025 to discuss the financial results of the Company for the quarter ended March 31, 2025.
IEX · price
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IEX reported its highest-ever quarterly electricity volume of 31.7 billion units in Q4 FY25, up 18% year-on-year, taking full-year FY25 volume to 121 billion units (+18.7%). Consolidated revenue rose 19.3% to INR 657.4 crores and profit after tax grew 22.3% to INR 429.2 crores, supported by strong growth across segments — RTM (+29%), green market (+171%), and RECs (+136%). The board declared a final dividend of INR 1.5 per share, taking total FY25 dividend to INR 3 per share. Management highlighted that it is awaiting CERC approval to extend the Term-Ahead Market (TAM) contract from 90 days to 11 months, which would unlock an additional 40 billion unit addressable market. The company is also exploring diversification into a coal exchange and an EPR trading platform, while its subsidiary ICX has issued 59 lakh I-RECs since September 2024.
Strong volume and earnings growth, near-monopoly position in DAM (99.8% share), and potential upside from the 11-month TAM approval should support positive investor sentiment. Watch for CERC decisions on TAM extension and green RTM as near-term catalysts; downside risk is the 15% decline in DAM clearing prices due to improved supply.