IEX Q4 FY21 Results: ‘Unprecedented Performance’; Rs 100 Cr Revenues

The Indian Energy Exchange (IEX) released its audited consolidated financial results for the fourth quarter ended March 31, 2021, today, announcing an “unprecedented performance” in the last fiscal year.

The New Delhi-headquartered power trading exchange, which is regulated by Central Electricity Regulatory Commission (CERC), reported 37.3% YoY growth in electricity volumes in the last year. In FY21, PAT grew by 17.3% YoY with PAT margin at 57.9%. In the last quarter of the 2020-21 fiscal year, electricity volumes had a 62.1% YoY growth, and total revenue increased to Rs 100.3 crores from Rs 79.6 crores in the year-ago period. EBTIDA was Rs 83.9 crores in this period as compared to Rs 62.6 crores in the corresponding period in the previous year. The company considers digital transformation and new market segments – RTM and GTAM- to have been key growth drivers.

The energy exchange also points out that the country’s electricity consumption saw a robust increase of 8.9% YoY while the peak demand also saw 7.4% YoY growth in Q4FY’21. Overall, for the fiscal year 2021, the peak demand grew 4% YoY reaching 189 GW in February’21 whereas the electricity consumption remained at par with the previous fiscal year. The first six months saw a significant decline in electricity consumption with April 2020 showcasing the steepest decline of -23.2% YoY. The recovery was led by improvement in economic activities due to the relaxation of lockdown restrictions across the country. Manufacturing PMI rebounded to 58.9 – the highest over the last eight years in October 2021, from -57.3 in April 2020.

As of March 2021, installed power generation capacity at 382 GW saw 3.3% YoY growth. Renewable capacity saw about 9% YoY growth with cumulative capacity at 94 GW in fiscal year 2021. The IEX report insists that this considerable growth in green power reiterates the fast-paced energy shift that has been underway and an increased impetus on building a sustainable energy economy.

IEX is India’s premier energy exchange providing a nationwide automated trading platform for physical delivery of electricity, renewable power, renewable energy certificates and energy saving certificates. The Exchange is a publicly listed company with National Stock Exchange (NSE) and BSE (formerly, Bombay Stock Exchange) since 2017 and is approved and regulated by CERC since 2008. Besides IEX, the country has only one other exchange at present- Power Exchange India Limited (PXIL), which is the nation’s institutionally promoted power exchange that provides innovative and credible solutions to transform the Indian power markets.

According to recent reports, India is expected to have a third power exchange soon. Power regulator CERC has approved registration to PTC, BSE and ICICI Bank-led Pranurja Solution Ltd to start the country’s third power exchange, which is likely to be operationalised by this year-end.