Indian Energy Exchange

IEX reported Q4 FY26 consolidated revenue of ₹174 croreCurrent reported value: ₹174 crore. No comparable prior figure is available in the source record. (+12.5Current 12.5 crore vs previous available quarter 14 crore.% YoY) and PAT of ₹130 croreCurrent reported value: ₹130 crore. No comparable prior figure is available in the source record. (+10.8Current reported value: 10.8. No comparable prior figure is available in the source record.% YoY), driven by record quarterly electricity volumes of 39.4 BUCurrent 39.4 BU. Reported change: +24.3% YoY. (+24.3% YoY) and strong RTM growth (+48.2% YoY). The day-ahead market saw sell liquidity surge 49% YoY, pushing prices down 12.2% to ₹3.89/unit, which encouraged discom and C&I participation. Management guided for 15-20% volume growth in FY27, supported by rising power demand and new capacity additions. However, regulatory overhang from market coupling draft regulations and Middle East disruptions impacting IGX volumes remain key risks. The coal exchange opportunity is promising but awaits final regulations. Overall, operational momentum is solid but regulatory uncertainty caps upside.