Who are Indian Energy Exchange's main competitors?

Named competitors: Power Exchange India (PXIL, unlisted) (private or unlisted). The cockpit's measured peer set (industry) also includes Gielda Papierow Wartosciowych w Warszawie (GPW.WA), Japan Securities Finance (8511.T), Yuanta Futures (6023.TWO), Canaccord Genuity (CF.TO), Gold.com (GOLD), Oppenheimer (OPY).

Is Indian Energy Exchange expensive compared with its peers?

On forward p/e it trades at 18.1× against a peer median of 12.5×, most expensive of 12 in its peer set.

How has Indian Energy Exchange stock performed?

Over six months to 6 Nov 2026 the shares returned -18.2% against -7.8% for the median peer; over one year -23.7%.

← CockpitCompetitor Analysis › IEX.NS Indian Energy ExchangeOpen in the cockpit ↗

Indian Energy ExchangeIEX.NSCompetitor analysis, valuation and peers

India · INR·Financials›Investment Banks/Brokers

India's dominant electronic power-trading exchange for buying and selling electricity in short-term spot markets.

≈ An electricity-trading exchange, akin to a commodity Nasdaq for powerMomentum weak 31

Competitor Analysis ▸ Charts Open in the cockpit

Mkt cap

$1.03B

US dollars, full cap

Free float

85%

of shares outstanding

$/day

$4.59M

20-day average traded

Fwd P/E

18.1×

forward earnings

ROIC−WACC

n/a

WACC 17.5%

Hurdle

n/a

no reverse DCF

Next earnings

100 days

14 Feb 2027

Close · INR₹109.50

1D-2.4%

1W+8.5%

1M+3.5%

3M-15.0%

6M-18.2%

YTD-18.4%

1Y-23.7%

ATR %2.9%

Beta1.09

52w lowhigh31.7% off high

What Indian Energy Exchange does

India's dominant electronic power-trading exchange for buying and selling electricity in short-term spot markets.

Charges both buyers and sellers a small fee on every unit of electricity traded, so earnings follow traded volume rather than power prices, and the Central Electricity Regulatory Commission licenses the exchange and oversees its fees. The day-ahead and real-time markets carry most of the volume.

In one line: An electricity-trading exchange, akin to a commodity Nasdaq for power.

Products and services

Day-ahead power market
Real-time power market
Renewable energy certificate trading

Customers

Power distribution companies (discoms)
Generators/IPPs
Open-access industrial consumers

Where it sits in the supply chain

Financial market infrastructure
Power trading exchange
Electricity spot & derivatives markets

What could go right

Growing share of electricity traded via exchanges
Renewable energy market growth

What could go wrong

Regulatory intervention (market coupling proposals)
New exchange competition

Moat: wide (network effects, regulatory licence, scale). First-mover, dominant-share power exchange with strong liquidity network effects under regulatory approval.

Headquarters: New Delhi, India · Founded: 2008 · Employees: 179

Named competitors

Power Exchange India (PXIL, unlisted) private or unlisted

Indian Energy Exchange at a glance

Size Indian Energy Exchange (IEX.NS) is an India Financials company (Investment Banks/Brokers) with a market value of $1.03B, the 582nd largest of 1,058 India companies the cockpit tracks. Shares closed at ₹109.50 on 6 Nov 2026.

Performance Over six months the shares fell 18.2%, against -7.8% for the median peer and 0.0% for the India market (cap-weighted) — 8th lowest of 21 in its peer set.

Growth Revenue grew 13.2% over the last twelve months (peer median +16.0%); the operating margin is 80.5% (peer median 30.6%).

Valuation It trades at 18.1× forward earnings against a peer median of 12.5× (most expensive of 12).

Next results Next results expected around 14 Feb 2027 (exchange calendar; dates can move).

Relative performance

Six months, rebased to 100: Indian Energy Exchange against the median of its 20 peers (local-currency closes).

Indian Energy Exchange financials

Reported figures in INR; fiscal year ends 2026-03-31. TTM = trailing twelve months.
	TTM	FY2025	FY2024	FY2023	FY2022
Revenue	₹6.45B	₹6.16B	₹5.37B	₹4.49B	₹4.01B
Revenue growth	—	+15%	+20%	+12%	—
Gross profit	₹5.19B	₹5.42B	₹4.69B	₹3.89B	₹3.47B
EBITDA	₹5.44B	₹5.30B	₹4.62B	₹3.84B	₹3.42B
Net income	₹5.23B	₹4.93B	₹4.29B	₹3.51B	₹3.06B
Free cash flow	n/a	₹5.07B	₹4.60B	₹3.06B	-₹240M
Capital expenditure	n/a	₹148M	₹78.5M	₹153M	₹90.2M
Total debt	₹87.5M	₹112M	₹61.5M	₹104M	₹141M

Quarterly statements and history in the cockpit →

Indian Energy Exchange competitor charts

The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.

Performance: 6-month against 1-month return

Up and to the right = strong over both horizons. Indian Energy Exchange is the large dot.

Fundamentals: revenue growth against valuation

Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. Indian Energy Exchange is the large dot.

Indian Energy Exchange competitors and peer comparison

How Indian Energy Exchange compares with its peers

Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.

Indian Energy Exchange against its 20 peers (data as of 6 Nov 2026)
Measure	IEX.NS	Peer median	Rank in peer set
1-month return	+3.5%	-6.8%	3rd highest of 21
6-month return	-18.2%	-7.8%	8th lowest of 21
Distance from 52-week high	-31.7%	-25.3%	9th lowest of 21
Revenue growth (TTM)	+13.2%	+16.0%	9th lowest of 21
Operating margin	80.5%	30.6%	4th highest of 21
Forward P/E	18.1×	12.5×	most expensive of 12

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
Company	Market	Market cap	6M return	Revenue growth	Op. margin	Forward P/E	Req g	Delivered g
Indian Energy Exchange IEX.NS	India	$1.03B	-18%	+13%	80%	18.1×	n/a	n/a
Gielda Papierow Wartosciowych w Warszawie GPW.WA	Poland	$1.04B	+19%	+22%	34%	16.3×	n/a	n/a
Japan Securities Finance 8511.T	Japan	$1.02B	-6%	+73%	82%	n/a	n/a	n/a
Yuanta Futures 6023.TWO	Taiwan	$1.07B	-9%	+10%	-22%	n/a	n/a	n/a
Canaccord Genuity CF.TO	Canada	$1.08B	+17%	+32%	12%	11.0×	n/a	n/a
Gold.com GOLD	United States	$1.09B	-17%	+132%	1%	13.8×	n/a	n/a
Oppenheimer OPY	United States	$963M	-5%	+14%	12%	n/a	n/a	n/a
Flow Traders FLOW.AS	Netherlands	$1.13B	-20%	-4%	43%	7.2×	n/a	n/a
JM Financial JMFINANCIL.NS	India	$1.13B	-22%	+1%	32%	8.0×	n/a	n/a
Tokai Tokyo Financial 8616.T	Japan	$1.14B	+2%	+16%	18%	12.5×	n/a	n/a
DAOU TECHNOLOGY 023590.KS	South Korea	$919M	-35%	+134%	6%	n/a	n/a	n/a
IIFL Capital Services IIFLCAPS.NS	India	$1.17B	0%	+8%	25%	n/a	n/a	n/a
OSL 0863.HK	Hong Kong	$1.19B	-20%	+12,274%	-2%	n/a	n/a	n/a
Ruida Futures 002961.SZ	China	$1.22B	-21%	-51%	82%	10.6×	n/a	n/a
Daishin Securities 003540.KS	South Korea	$868M	-44%	+44%	53%	2.9×	n/a	n/a
M&A Capital Partners 6080.T	Japan	$855M	+32%	+12%	38%	17.5×	n/a	n/a
Edelweiss Financial Services EDELWEISS.NS	India	$1.28B	+6%	+16%	11%	n/a	n/a	n/a
Nihon M&A Center 2127.T	Japan	$1.28B	-7%	+5%	36%	14.1×	n/a	n/a
Bright Smart Securities & Commodities 1428.HK	Hong Kong	$1.28B	-51%	-2%	67%	14.9×	n/a	n/a
JSW JSWHL.NS	India	$1.29B	-16%	+55%	94%	n/a	n/a	n/a
Okasan Securities 8609.T	Japan	$1.33B	+5%	+36%	29%	n/a	n/a	n/a

Questions

Who are Indian Energy Exchange's main competitors?: Named competitors: Power Exchange India (PXIL, unlisted) (private or unlisted). The cockpit's measured peer set (industry) also includes Gielda Papierow Wartosciowych w Warszawie (GPW.WA), Japan Securities Finance (8511.T), Yuanta Futures (6023.TWO), Canaccord Genuity (CF.TO), Gold.com (GOLD), Oppenheimer (OPY).
Is Indian Energy Exchange expensive compared with its peers?: On forward p/e it trades at 18.1× against a peer median of 12.5×, most expensive of 12 in its peer set.
How has Indian Energy Exchange stock performed?: Over six months to 6 Nov 2026 the shares returned -18.2% against -7.8% for the median peer; over one year -23.7%.