Indian Energy Exchange (IEX) has announced its audited financial results for the financial year and fourth quarter ended March 31, 2026, reporting its highest-ever annual electricity traded volume alongside robust growth in revenue and profitability. The company also declared a final dividend of INR 2 per equity share, equivalent to 200% of the face value.
For FY’26, IEX recorded a total traded electricity volume of 141.1 billion units (BU), marking a 17% year-on-year (YoY) increase. The company’s consolidated profit after tax (PAT) stood at INR 492.9 crore, up 14.9% from INR 429.2 crore in FY’25. Consolidated revenue rose to INR 747.0 crore, reflecting a 13.6% YoY growth, while standalone revenue reached INR 744.9 crore, up 13.9% compared to the previous fiscal. Standalone PAT also increased to INR 473.7 crore, registering a 14.2% YoY rise.
The exchange achieved its highest-ever Renewable Energy Certificate (REC) trading volume during the year, with 187.20 lakh RECs traded, reflecting a 5% increase over FY’25.
In the fourth quarter (Q4FY’26), IEX reported its highest-ever quarterly traded electricity volume at 39.4 BU, a 24.3% increase YoY. Consolidated PAT for the quarter stood at INR 129.8 crore, up 10.8% from INR 117.1 crore in Q4FY’25. Consolidated revenue for the quarter rose by 12.5% YoY to INR 196.4 crore. On a standalone basis, revenue reached INR 194.4 crore, up 12.8%, while PAT increased by 10.7% to INR 124.0 crore.
REC trading during the quarter stood at 71.71 lakh units, registering a growth of 6.1% compared to the corresponding quarter of the previous year.
On the broader power sector front, India’s electricity demand reached approximately 1,709 BU in FY’26, reflecting around 1% growth over the previous year. Fuel availability remained adequate, with coal production reaching 1,041 million tonnes during the year. Coal inventory levels stood at 25 days as of March 31, 2026.
Higher generation from renewable sources, including wind, hydro, and solar, along with sustained coal-based power supply, contributed to increased liquidity on the exchange platform. This resulted in a notable decline in electricity prices. The Day-Ahead Market (DAM) clearing price averaged INR 3.86 per unit in FY’26, down 13.7% from FY’25, while the Real-Time Market (RTM) price averaged INR 3.59 per unit, declining 16% YoY.
In the gas segment, the Indian Gas Exchange (IGX) reported its highest-ever traded volume of 76.8 million MMBtu in FY’26, registering a 28% YoY growth. IGX’s PAT increased to INR 41.9 crore, up 35% from INR 30.9 crore in FY’25.
Meanwhile, International Carbon Exchange (ICX) demonstrated significant expansion, issuing 179 lakh I-RECs during FY’26, reflecting growth of over 200% compared to FY’25. ICX reported revenue of INR 7.7 crore, up 126% from INR 3.4 crore in the previous financial year.
During FY’26, ICX issued 179 lakh I-REC, recording a growth of over 200% compared with FY’25. ICX made revenue of INR 7.7 crore in FY’26, as compared to INR 3.4 crore in FY’25, achieving growth of 126% YoY.
