Indian Energy Exchange Limited

NSEI:IEX Stock Report

Market Cap: ₹108.2b

Indian Energy Exchange Valuation

Is IEX undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Future Cash Flow Value

What is the Fair Price of IEX when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: IEX (₹121.76) is trading above our estimate of future cash flow value (₹53.32)

Significantly Below Future Cash Flow Value: IEX is trading above our estimate of future cash flow value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for IEX?

Key metric: As IEX is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for IEX. This is calculated by dividing IEX's market cap by their current earnings.
What is IEX's PE Ratio?
PE Ratio22.5x
Earnings₹4.80b
Market Cap₹108.16b

Price to Earnings Ratio vs Peers

How does IEX's PE Ratio compare to its peers?

The above table shows the PE ratio for IEX vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average42.5x
ICRA ICRA
28.6x14.61%₹52.9b
CARERATING CARE Ratings
30.6x15.17%₹49.2b
CRISIL CRISIL
41.3x15.08%₹316.6b
MCX Multi Commodity Exchange of India
69.5x24.62%₹651.1b
IEX Indian Energy Exchange
22.5x5.21%₹108.2b

Price-To-Earnings vs Peers: IEX is good value based on its Price-To-Earnings Ratio (22.5x) compared to the peer average (42.1x).

Historical Price to Earnings Ratio

Historical Price to Earnings Ratio compares a stock's price to its earnings over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Earnings Ratio vs Industry

How does IEX's PE Ratio compare vs other companies in the IN Capital Markets Industry?

15 CompaniesPrice / EarningsEstimated GrowthMarket Cap
536773 Jindal Poly Investment and Finance
1.3xn/aUS$128.69m
539574 Sunshine Capital
4.6xn/aUS$11.98m
BLBLIMITED BLB
3.6xn/aUS$10.16m
531931 Sai Capital
3.2xn/aUS$5.17m
IEX 22.5xIndustry Avg. 22.7xNo. of Companies37PE020406080100+
15 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: IEX is good value based on its Price-To-Earnings Ratio (22.5x) compared to the Indian Capital Markets industry average (22.7x).

Price to Earnings Ratio vs Fair Ratio

What is IEX's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

IEX PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio22.5x
Fair PE Ratio19.8x

Price-To-Earnings vs Fair Ratio: IEX is expensive based on its Price-To-Earnings Ratio (22.5x) compared to the estimated Fair Price-To-Earnings Ratio (19.8x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst IEX forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current₹121.76
₹144.64
+18.79%
32.07%₹285.00₹105.00n/a11
Feb ’27₹124.87
₹145.91
+16.85%
31.80%₹285.00₹105.00n/a11
Jan ’27₹133.39
₹149.50
+12.08%
32.96%₹285.00₹99.00n/a10
Dec ’26₹146.70
₹149.50
+1.91%
32.96%₹285.00₹99.00n/a10
Nov ’26₹139.06
₹146.90
+5.64%
33.60%₹285.00₹99.00n/a10
Oct ’26₹141.18
₹161.00
+14.04%
33.92%₹285.00₹99.00n/a11
Sep ’26₹142.21
₹161.00
+13.21%
33.92%₹285.00₹99.00n/a11
Aug ’26₹132.09
₹161.00
+21.89%
33.92%₹285.00₹99.00n/a11
Jul ’26₹193.09
₹211.73
+9.65%
17.83%₹285.00₹150.00n/a11
Jun ’26₹200.55
₹209.00
+4.21%
19.21%₹285.00₹150.00n/a10
May ’26₹190.35
₹209.00
+9.80%
19.21%₹285.00₹150.00n/a10
Apr ’26₹176.73
₹203.30
+15.03%
22.76%₹285.00₹130.00n/a10
Mar ’26₹155.93
₹203.30
+30.38%
22.76%₹285.00₹130.00₹125.6410
Feb ’26₹168.36
₹203.30
+20.75%
22.76%₹285.00₹130.00₹124.8710
Jan ’26₹180.22
₹210.00
+16.52%
24.46%₹282.00₹130.00₹133.3910
Dec ’25₹176.19
₹210.00
+19.19%
24.46%₹282.00₹130.00₹146.7010
Nov ’25₹179.35
₹210.00
+17.09%
24.46%₹282.00₹130.00₹139.0610
Oct ’25₹208.34
₹205.10
-1.56%
25.39%₹280.00₹128.00₹141.1810
Sep ’25₹203.63
₹181.33
-10.95%
18.55%₹219.00₹128.00₹142.219
Aug ’25₹190.43
₹179.11
-5.94%
20.88%₹219.00₹110.00₹132.099
Jul ’25₹189.34
₹144.44
-23.71%
21.87%₹200.00₹107.00₹193.099
Jun ’25₹153.15
₹144.44
-5.68%
21.87%₹200.00₹107.00₹200.559
May ’25₹156.30
₹132.67
-15.12%
21.92%₹200.00₹107.00₹190.359
Apr ’25₹140.30
₹132.67
-5.44%
21.92%₹200.00₹107.00₹176.739
Mar ’25₹144.35
₹132.67
-8.09%
21.92%₹200.00₹107.00₹155.939
₹144.64
Fair Value
15.8% undervalued intrinsic discount
11
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/03/06 11:28
End of Day Share Price 2026/03/06 00:00
Earnings2025/12/31
Annual Earnings2025/03/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Indian Energy Exchange Limited is covered by 19 analysts. 8 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
null nullAntique Stockbroking Ltd.
null nullAsian Markets Securities Private Limited
Vijayaraghavan SwaminathanAvendus Spark