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INDIAN ENERGY EXCHANGE 2021-22 Annual Report Analysis
Sun, 7 Aug

INDIAN ENERGY EXCHANGE has announced its results for the year ended March 2022. Let us have a look at the detailed performance review of the company during FY21-22.

INDIAN ENERGY EXCHANGE Income Statement Analysis

  • Operating income during the year rose 35.6% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 47.5% YoY during the fiscal. Operating profit margins witnessed a fall and down at 85.8% in FY22 as against 78.9% in FY21.
  • Depreciation charges increased by 4.3% and finance costs decreased by 3.9% YoY, respectively.
  • Other income grew by 39.0% YoY.
  • Net profit for the year grew by 49.5% YoY.
  • Net profit margins during the year grew from 64.6% in FY21 to 71.3% in FY22.

INDIAN ENERGY EXCHANGE Income Statement 2021-22

No. of Mths Year Ending 12 Mar-21* 12 Mar-22* % Change
Net Sales Rs m 3,179 4,310 35.6%
Other income Rs m 384 534 39.0%
Total Revenues Rs m 3,562 4,844 36.0%
Gross profit Rs m 2,506 3,696 47.5%
Depreciation Rs m 165 172 4.3%
Interest Rs m 21 20 -3.9%
Profit before tax Rs m 2,704 4,038 49.3%
Tax Rs m 650 966 48.6%
Profit after tax Rs m 2,054 3,072 49.5%
Gross profit margin % 78.9 85.8
Effective tax rate % 24.0 23.9
Net profit margin % 64.6 71.3
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



New Research: 2 stocks to buy as Nifty50 heads towards 40,000

INDIAN ENERGY EXCHANGE Balance Sheet Analysis

  • The company's current liabilities during FY22 stood at Rs 10 billion as compared to Rs 4 billion in FY21, thereby witnessing an increase of 149.5%.
  • Current assets rose 100% and stood at Rs 15 billion, while fixed assets fell 9% and stood at Rs 2 billion in FY22.
  • Overall, the total assets and liabilities for FY22 stood at Rs 17 billion as against Rs 10 billion during FY21, thereby witnessing a growth of 73%.

INDIAN ENERGY EXCHANGE Balance Sheet as on March 2022

No. of Mths Year Ending 12 Mar-21* 12 Mar-22* % Change
Networth Rs m 5,146 6,891 33.9
 
Current Liabilities Rs m 3,823 9,537 149.5
Long-term Debt Rs m 0 0 0.0
Total Liabilities Rs m 9,818 16,962 72.8
 
Current assets Rs m 7,369 14,732 99.9
Fixed Assets Rs m 2,449 2,230 -9.0
Total Assets Rs m 9,818 16,962 72.8
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



INDIAN ENERGY EXCHANGE Cash Flow Statement Analysis

  • INDIAN ENERGY EXCHANGE 's cash flow from operating activities (CFO) during FY22 stood at Rs 8 billion, an improvement of 148.8% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY22 stood at Rs -4 billion, an improvement of 128.7% on a YoY basis.
  • Cash flow from financial activities (CFF) during FY22 stood at Rs -1 billion on a YoY basis.
  • Overall, net cash flows for the company during FY22 stood at Rs 2 billion from the Rs 332 million net cash flows seen during FY21.

INDIAN ENERGY EXCHANGE Cash Flow Statement 2021-22

Particulars No. of months 12 12 % Change
Year Ending Mar-21 Mar-22
Cash Flow from Operating Activities Rs m 3,064 7,623 148.8%
Cash Flow from Investing Activities Rs m -1,961 -4,484 -
Cash Flow from Financing Activities Rs m -771 -1,358 -
Net Cash Flow Rs m 332 1,781 436.7%
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for INDIAN ENERGY EXCHANGE

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 3.4, an decline from the EPS of Rs 6.9 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 165.5, stands at 47.4 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 21.6 times, while the price to sales ratio stands at 34.4 times.
  • The company's price to cash flow (P/CF) ratio stood at 58.8 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending 12 Mar-21* 12 Mar-22*
Sales per share (Unadj.) Rs 10.6 4.8
TTM Earnings per share Rs 6.9 3.4
Diluted earnings per share Rs 2.3 3.4
Price to Cash Flow x 44.9 58.8
TTM P/E ratio x 48.5 47.4
Price / Book Value ratio x 15.0 27.7
Market Cap Rs m 77,082 190,812
Dividends per share (Unadj.) Rs 4.0 2.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for INDIAN ENERGY EXCHANGE

  • Solvency Ratios
  • Current Ratio: The company's current ratio deteriorated and stood at 1.5x during FY22, from 1.9x during FY21. The current ratio measures the company's ability to pay short-term and long-term obligations.

    Interest Coverage Ratio: The company's interest coverage ratio improved and stood at 205.5x during FY22, from 132.6x during FY21. The interest coverage ratio of a company states how easily a company can pay its interest expense on outstanding debt. A higher ratio is preferable.

  • Profitability Ratios
  • Return on Equity (ROE): The ROE for the company improved and stood at 44.6% during FY22, from 39.9% during FY22. The ROE measures the ability of a firm to generate profits from its shareholders capital in the company.

    Return on Capital Employed (ROCE): The ROCE for the company improved and stood at 58.9% during FY22, from 53.0% during FY21. The ROCE measures the ability of a firm to generate profits from its total capital (shareholder capital plus debt capital) employed in the company.

    Return on Assets (ROA): The ROA of the company declined and down at 18.2% during FY22, from 21.1% during FY21. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending 12 Mar-21* 12 Mar-22*
Current ratio x 1.9 1.5
Debtors’ Days Days 37 740
Interest coverage x 132.6 205.5
Debt to equity ratio x 0.0 0.0
Return on assets % 21.1 18.2
Return on equity % 39.9 44.6
Return on capital employed % 53.0 58.9
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



To see how INDIAN ENERGY EXCHANGE has performed over the last 5 years, please visit here.

INDIAN ENERGY EXCHANGE Share Price Performance

Over the last one year, INDIAN ENERGY EXCHANGE share price has moved up from Rs 139.8 to Rs 165.5, registering a gain of Rs 25.6 or around 18.3%.

Meanwhile, the S&P BSE POWER Index is trading at Rs 4,687.2 (down 1.6%). Over the last one year it has moved up from 2,672.1 to 4,687.2, a gain of 2,015 points (up 75.4%).

Overall, the S&P BSE SENSEX is up 7.4% over the year.

(To know more, check out historical annual results for INDIAN ENERGY EXCHANGE and quarterly results for INDIAN ENERGY EXCHANGE )

Annual Report FAQs

What is the current share price of INDIAN ENERGY EXCHANGE ?

INDIAN ENERGY EXCHANGE currently trades at Rs 134.3 per share. You can check out the latest share price performance of INDIAN ENERGY EXCHANGE here...

What was the revenue of INDIAN ENERGY EXCHANGE in FY22? How does it compare to earlier years?

The revenues of INDIAN ENERGY EXCHANGE stood at Rs 4,844 m in FY22, which was up 36.0% compared to Rs 3,562 m reported in FY21.

INDIAN ENERGY EXCHANGE 's revenue has grown from Rs 2,561 m in FY18 to Rs 4,844 m in FY22.

Over the past 5 years, the revenue of INDIAN ENERGY EXCHANGE has grown at a CAGR of 17.3%.

What was the net profit of INDIAN ENERGY EXCHANGE in FY22? How does it compare to earlier years?

The net profit of INDIAN ENERGY EXCHANGE stood at Rs 3,072 m in FY22, which was up 49.5% compared to Rs 2,054 m reported in FY21.

This compares to a net profit of Rs 1,757 m in FY20 and a net profit of Rs 1,650 m in FY19.

Over the past 5 years, INDIAN ENERGY EXCHANGE net profit has grown at a CAGR of 23.6%.

What does the cash flow statement of INDIAN ENERGY EXCHANGE reveal?

The cash flow statement is the financial statement that presents the cash inflows and outflows of a company during a given period of time.

This statement is one of the most useful tools for judging a company's liquidity position. The ratios and parameters in this statement helps test a company's financial health.

The cash flow statement of INDIAN ENERGY EXCHANGE reveals:

  • Cash flow from operations increased in FY22 and stood at Rs 7,623 m as compared to Rs 3,064 m in FY21.
  • Cash flow from investments decreased in FY22 and stood at Rs -4,484 m as compared to Rs -1,961 m in FY21.
  • Cash flow from financial activity decreased in FY22 and stood at Rs -1,358 m as compared to Rs -771 m in FY21.

Here's the cash flow statement of INDIAN ENERGY EXCHANGE for the past 5 years.

(Rs m)FY18FY19FY20FY21FY22
From Operations1,3121,3831,2603,0647,623
From Investments-334-621-25-1,961-4,484
From Financial Activity-1,263-784-1,614-771-1,358
Net Cashflow-285-23-3803321,781

What does the Key Ratio analysis of INDIAN ENERGY EXCHANGE reveal?

Be it the company's profitability, operations effectiveness or utilization of funds, ratio analysis is an important tool which helps in making investment decisions.

The ratio/financial analysis of INDIAN ENERGY EXCHANGE reveals:

  • Operating profit margins witnessed a fall and down at 85.8% in FY22 as against 78.9% in FY21.
  • Net profit margins grew from 64.6% in FY21 to 71.3% in FY22.
  • Debt to Equity ratio for FY22 stood at 0.0 as compared to 0.0 in FY21.

Here's the ratio/financial analysis of INDIAN ENERGY EXCHANGE for the past 5 years.

 FY18FY19FY20FY21FY22
Operating Profit Margin (%)80.279.878.678.985.8
Net Profit Margin (%)57.165.068.364.671.3
Debt to Equity Ratio (x)0.00.00.00.00.0

Read: Latest Annual Report Analysis of INDIAN ENERGY EXCHANGE

 

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