IEX Stock Price Analysis-Why is it falling?

IEX Share Price: On Monday, shares of Indian Energy Exchange, NSE: IEX, continued to lose money for the seventh session in a row. The stock started off in the green but gave in to selling pressure and turned red amid rumours that the Dalmia Group could reduce its shareholding.

The stock has crashed 11.63 per cent in the last seven sessions, eroding the wealth of investors. IEX shares are trading under pressure since 2:1 bonus issued on December 3, 2021. The scrip has tumbled 41 per cent in the last one year as against 0.81 per cent decline in Nifty50.
IEX is India’s premier energy marketplace, providing a nationwide automated trading platform for the physical delivery of electricity, renewables and certificates.

Let us look at the Fundamentals

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	TTM
Sales +	36	60	138	174	176	170	199	230	254	257	317	426	406
Expenses +	15	19	34	38	41	45	55	46	51	53	58	60	67
Operating Profit	21	41	104	136	136	125	143	185	203	204	259	366	338
OPM %	59%	68%	75%	78%	77%	74%	72%	80%	80%	80%	82%	86%	83%
Other Income +	5	11	-6	0	0	25	34	26	40	40	40	52	67
Interest	0	0	0	0	0	0	0	0	1	2	2	2	2
Depreciation	4	4	6	3	3	3	3	10	10	15	16	16	18
Profit before tax	23	48	93	133	132	147	174	200	232	228	282	400	385
Tax %	17%	29%	29%	31%	32%	32%	35%	34%	29%	22%	24%	24%
Net Profit	19	34	66	92	90	100	114	132	165	178	213	303	291
EPS in Rs	0.23	0.42	0.81	1.12	1.10	1.16	1.31	1.45	1.81	1.98	2.38	3.37	3.23
Dividend Payout %	14%	16%	8%	9%	88%	72%	113%	50%	0%	42%	56%	59%

Compounded Sales Growth
10 Years:	22%
5 Years:	16%
3 Years:	19%
TTM:	-1%

Compounded Profit Growth
10 Years:	24%
5 Years:	24%
3 Years:	24%
TTM:	2%

Stock Price CAGR
10 Years:	%
5 Years:	19%
3 Years:	43%
1 Year:	-44%

Return on Equity
10 Years:	44%
5 Years:	46%
3 Years:	46%
Last Year:	48%

Balance Sheet

Standalone Figures in Rs. Crores / View ConsolidatedCORPORATE ACTIONS

	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Sep 2022
Share Capital +	30	30	30	30	30	30	30	30	30	30	30	90	90
Reserves	48	75	141	223	210	168	248	254	340	360	502	612	662
Borrowings +	0	0	0	3	0	0	0	0	0	14	12	10	16
Other Liabilities +	95	107	114	116	169	227	277	291	335	264	384	983	441
Total Liabilities	169	208	282	369	406	424	554	574	706	668	927	1,695	1,209
Fixed Assets +	14	22	12	10	14	11	8	119	111	119	115	110	118
CWIP	2	0	0	0	0	0	1	1	1	1	6	5	0
Investments	104	125	189	247	254	281	383	268	475	514	710	1,247	969
Other Assets +	48	60	81	111	137	131	162	186	118	35	96	333	122
Total Assets	169	208	282	369	406	424	554	574	706	668	927	1,695	1,209