Indian Energy Exchange Ltd. · NSE:IEX
Indian Energy Exchange — Q3 FY2026 Earnings Presentation
33 slides from Indian Energy Exchange's earnings presentation, Jan 29, 2026
Slide 1: Cover letter to stock exchanges
Dated: January 29, 2026 The Manager The Manager BSE Limited National Stock Exchange of India Ltd Corporate Relationship Department Listing Department Phiroze Jeejeebhoy Towers Exchange Plaza, 5th Floor, Plot No. C/1 Dalal Street G Block, Bandra Kurla Complex Mumbai- 400001 Bandra (E), Mumbai-400 051
Slide 2: Investor Presentation Q3 FY'26
Investor Presentation Q3 FY’26
Slide 3: In this presentation
In this presentation: Sector and Business Update Customer Centricity and Technology Financial Performance Indian Gas Exchange 2
Slide 4: Power Sector Summary
Power Sector Summary Generation Mix Transmission Distribution & Consumption Indian Generation Mix: Apr-Dec FY’26 World’s Largest Network Reforms Underway Others Nuclear Hydro 3% 1% • Improving credit ratings and 11% • Inter-reg. trans. Cap.: 119 GW profitability of distribution Wind (FY’25); 168 GW
Slide 5: Energy Sector Transition
Energy Sector Transition Nuclear 15 GW 2% Nuclear 9GW 2% Thermal Cap Thermal 327 Cap 247 RE & Hydro 38% RE & Hydro 48% 507 258 60% 50% Dec’25 Installed Capacity FY 2030 CEA Projections 514 GW 849 GW Source: CEA; MoP; RE also includes BESS India achieves 50% share of non-fossil fuel in installed elec
Slide 6: Renewables Are Leading Energy Sector Transition
Renewables Are Leading Energy Sector Transition Technology Progress Changing Preferences • Low Carbon Technologies – Wind, • Shift Towards RE and storage Solar, Hybrid • Electrification of economy – • Falling RE cost driving higher EVs, roof top solar, cooking, penetration railway traction, data cen
Slide 7: IEX: India's Premier Technology-led Electricity Marketplace
IEX: India’s Premier Technology-led Electricity Marketplace ➢ Nation wide, automated and transparent trading platform for physical delivery of electricity, renewables Robust Ecosystem & certificates ➢ Commenced operations in 2008; CERC regulated 8,500+ 5,700+ 2,500+ ➢ Publicly listed company – 2017
Slide 8: IEX Product Mix
IEX Product Mix 9M FY’26 - Electricity Volumes: 101.7 BUs; Certificates: 115 Lakh Certificates 10% DAC Green 3% 7% DAM 38% TAM 6% RTM 36% • RTM continues substantial growth of ~40% YoY in 9M FY26 • Collectives (DAM, RTM, G-DAM) at ~ 81% of volumes. 7
Slide 9: Stable Prices on IEX, Ample Sell Side Liquidity
Stable Prices on IEX, Ample Sell Side Liquidity 7.00 13,50,249 13,47,550 13,44,851 13,42,153 13,39,454 13,36,755 13,34,057 13,31,358 13,28,659 13,25,960 13,23,262 13,20,563 13,17,864 13,15,166 13,12,467 13,09,768 13,07,070 13,04,371 13,01,672 12,98,973 12,96,275 12,93,576 12,90,877 12,88,179 12,85,4
Slide 10: Growth Levers for IEX
Growth Levers for IEX (1) (2) (3) (4) (5) (6) Increase in New Products Diversity in Ample Re-designing Energy Power & Regulatory Demand/Supply Supply Side electricity market Transition Consumption Developments Patterns Availability • High GDP • TAM up to 11 • Report on • Changing • Diurnal Variation
Slide 11: Growth Driver 1: Demand Increase
Growth Driver 1: Demand Increase India placed as the most promising economy on the global map 2,600 300 ➢ Industrialization 2,300 ✓ High GDP growth of about 6-7% expected to drive 250 electricity 2,100 ✓ Core sector, traction, EV, Roof Top Solar, Data Centres 1,694 200 1,622 to drive electricity con
Slide 12: Growth Driver 2: New Products & Regulatory Developments
Growth Driver 2: New Products & Regulatory Developments TAM upto 11 ➢ Trade up to 11 months shall help shift DEEP platform volume to Exchanges; Currently DEEP ~40 BU Months ➢ Awaiting CERC approval on petition. ➢ Petition in CERC for launching Green RTM heard, public comments closed. Final order res
Slide 13: Growth Driver 3: Roadmap for Deepening Market
Growth Driver 3: Roadmap for Deepening Market MoP Report of the Group on Development of Electricity Market in India, 2023 Short Term Medium Term Long Term (up to 1 year) (1 -2 years) (2 years and beyond) • Market based Ancillary • Increase share of RE addition • Overall interaction of Services throu
Slide 14: Growth Driver 4: Energy Transition
Growth Driver 4: Energy Transition • Future demand requirements will predominantly be met through RE sources. • European experience of renewables shows adoption of Market Models to support Energy market-based models increased RE penetration. Transition • Capacity awarded through CfD auction in UK st
Slide 15: New Market Models: FDRE & RTC, BESS
New Market Models: FDRE & RTC, BESS Firm Dispatch RE & Round The Clock RE Battery Energy Storage Systems (BESS) • FDRE mandatorily includes ESS to provide dispatchable RE • As per CEA, BESS Storage of 47GW/236 GWh required by 2032. power such as assured peak power, load following etc. • Charging (No
Slide 16: Growth Driver 5: Diversity
Growth Driver 5: Diversity Regional Diversity All India Demand Profile 245 Demand Met (GW) – 24th Sep 2025 Consumption: 225 • North India has high demand in Summers/Paddy season 205 185 Demand Met (GW) - 14th June 2019 • Lift irrigation/Agricultural demand of Telangana between August to October. 165
Slide 17: Growth Driver 6: Increasing Sell Side Liquidity
Growth Driver 6: Increasing Sell Side Liquidity • Supply side constraints continued to ease through FY’25 and FY’26 due to various measures taken by MoP. • Q3 FY’26 coal production at 272 MT, broadly similar to Q3 FY’25. • Imported coal & gas prices down to reasonable levels – PLFs improved signific
Slide 18: Other Opportunities for Growth
Other Opportunities for Growth Load Shifting ▪ Agri-load shifting & ToD tariff will shift demand to solar hours. to Solar Hrs ▪ Increase in cleared volumes during solar hours. ▪ CEA issued final Guidelines for Resource Adequacy (RA) Planning Framework for Capacity Centre and States. Market ▪ Leads t
Slide 19: Diversification
INNOVATION TECHNOLOGY FUTURE Diversification
Slide 20: Diversification
Diversification ✓ 1st Natural Gas trading exchange, completes 5 years in operations ✓ 45 registered Members and 200+ registered Clients ✓ Automated platform with cutting edge technology; Indigenous price benchmark ✓ ICX formed in December 2022 to facilitate voluntary carbon trade. ✓ India a seller o
Slide 21: In Summary
In Summary Growth Levers for IEX: 1 Increase in Demand and Supply 2 Large Capacity Addition in RE and Storage and Declining Costs 3 Favorable Regulatory and Policy Framework for Market Development 4 Diversification 20
Slide 22: In this presentation
In this presentation: Sector and Business Update Customer Centricity and Technology Financial Performance Indian Gas Exchange 21
Slide 23: Customer Centricity
Customer Centricity • Capacity building workshops for all Discoms • Promoting Open Access through State wise conferences and seminars • Web Platform “EnergX” • Digital On-boarding • Financial Reconciliation • Web-based Bidding for all Products across Electricity and Certificate segments • Easy acces
Slide 24: Technology Implementations
Technology Implementations • Robust Business Continuity implementation with RTO (Recovery Time Objective) of 5 minutes and RPO (Recovery Point Objective) of near Zero • Implementation of best-in-class Perimeter Firewall and Panorama solutions to enhance Security Infrastructure and Management • Micro
Slide 25: In this presentation
In this presentation: Sector and Business Update Customer Centricity and Technology Financial Performance Indian Gas Exchange 24
Slide 26: Robust Financial Performance of IEX
Robust Financial Performance of IEX Consolidated Financials Rs Cr Breakup of standalone Q3FY25 Q2FY26 Q3FY26 550.5 revenues (%) 482.8 495.2 430.5 363.1 312.1 Transaction Fees 79% 78% 76% Admission and Annual 9M FY25 9M FY26 3% 3% 3% Fees Total Revenue EBITDA PAT 183.3 183.1 Other Income 18% 19% 21%
Slide 27: ESG Leadership in Power Exchanges
ESG Leadership in Power Exchanges • IEX, India’s First Carbon Neutral Power Exchange since FY’22 Environmental • First to launch Green segment in India’s power markets. Leadership • ICX, India’s sole issuer of International RECs (I-RECs) • Nearly INR 842 lakh spent as part of CSR initiative in healt
Slide 28: In this presentation
In this presentation: Sector and Business Update Customer Centricity and Technology Financial Performance Indian Gas Exchange 27
Slide 29: Gas Exchange: Overview
Gas Exchange: Overview Physical Delivery based Gas Exchange Operating under PNGRB’s Gas Exchange Regulations, 2020 6 Regional Gas Hubs − 6 Regional Gas Hubs Hubs & Delivery − Multiple active delivery points within 4 points regional hubs ( Western, Southern, Eastern & Northern) Barmer 10 Contracts Sh
Slide 30: IGX Members and Clients
IGX Members and Clients IGX has 45+ registered Members and 200+ registered Clients Proprietary Member Clients Trading & Clearing Member *Selected representation 29
Slide 31: Business Performance Overview
Business Performance Overview Yearly Volumes (Mn MMBTU) Quarter Volumes (Mn MMBTU) 70 60.0 58.2 60 50.9 50 40.8 40 30 20 16.2 17.5 12.2 10 0 FY22 FY23 FY24 FY25 9M-FY26 Q3-FY25 Q3-FY26 Data till 31st Dec 2025 30
Slide 32: Growth Levers
Growth Levers Government’s target Domestic Gas Market Developments for gas sector Infrastructure Development Production • Increasing share of Natural • LNG terminals capacity is expected to • ONGC aims to ramp up • Single zone/ Entry-Exit pipeline Gas in energy basket from grow from current 52.7 MMT
Slide 33: Thank You
Thank You Phone: +91-120 4648100 Email: contact@iexindia.com Website: www.iexindia.com @IndianEnergy @IEX_India_ @indian-energy ExchangeLtdIEX -exchange-limited
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