IEX

Dated:May 14,2021 The Manager The Manager BSELimited NationalStock Exchange ofIndiaLtd Corporate RelationshipDepartment Listing Department Phiroze Jeejeebhoy Towers ExchangePlaza,5thFloor,Plotno.C/1 DalalStreet GBlock,BandraKurlaComplex Mumbai-400001 Bandra(E),Mumbai-400051 ScripCode:540750 Symbol:IEX Subject:InvestorPresentation&PressReleaseonAuditedFinancialResultsforthe quarter andyear endedMarch31,2021 Dear Sir/Madam, Withreferencetoabovementionedsubject,pleasefindattachedInvestorPresentation & Press Release on Audited Financial Results for the quarter and year ended March 31,2021. The above information will also be made available on the website of the Company www.iexindia.com Youare requestedtotake the above informationonrecord. Thanking You Yoursfaithfully, For IndianEnergy ExchangeLimited VineetHarlalka CFO,Company Secretary &ComplianceOfficer MembershipNo.ACS-16264 Encl:asabove IndianEnergyExchangeLtd RegisteredOffice:C/oAvantaBusinessCentre,FirstFloor,UnitNo.1.14(a),D2,SouthernPark,DistrictCentre,Saket,NewDelhi–110017,India CorporateOffice:9thFloor,MaxTowers,Sector16B,Noida,UttarPradesh–201301,India Tel:+91-011-30446511|Tel:+91-120-4648100|FaxNo.:+91-120-4648115 CIN:L74999DL2007PLC277039 |Website:www.iexindia.com Investor Presentation – Q4 FY’21 and FY’21 Leading India’s Energy Transformation 1 In this presentation: Sector in transformation Electricity value chain IEX : Who we are COVID - 19 Way forward 2 Energy Sector is rapidly transforming Deployment of low- Small-scale Decarbonisation Decentralisation carbon generation technologies - wind across T&D and solar network Intelligent CS Empowered Digitisation Democratisation and Apps to consumers - optimise plants economic power and grid shift 3 13-05-2021 In this presentation: Sector in transformation Electricity value chain IEX : Who we are COVID - 19 Way forward 4 Electricity Value Chain: Key Highlights Generation Transmission Distribution Consumption 382 GW installed World’s largest network Distribution reforms Power surplus nation capacity: underway: • 94 GW renewables Inter-regional • Tariff reforms Peak demand at • 47% private transmission capacity: • Consumers to get 190 GW • 20 GW merchant 102GW choice of supplier Net Electricity Exporter Generation de-licensed One nation one price Regulatory strengthening activity 5 Installed capacity has grown at a faster pace compared to demand 371 382 Thermal Nuclear Hydro RES 356 10 Yr CAGR 344 Capacity 326 299 268 87 94 growth of 224 243 57 69 78 39 ) W 200 32 8% and 174 29 G 28 ( 25 Y 18 generation T I C A 189 211 218 223 226 231 235 increase of P 152 168 131 A 113 C 5% in the FY'11 FY'12 FY'13 FY'14 FY'15 FY'16 FY'17 FY'18 FY'19 FY'20 FY'21 8% last 10 years 1372 1383 has led to 1303 1236 1272 127 138 1168 102 surplus ) U 1043 82 146 66 B 961 ( N 805 871 908 0 0 generation O 0 0 I 0 T A in India R E N E 878 944 994 1037 1072 1043 1032 G 761 792 665 709 5% 6 FY'11 FY'12 FY'13 FY'14 FY'15 FY'16 FY'17 FY'18 FY'19 FY'20 FY'21 Total Installed Capacity = 382 GW Central State Renewable 98 GW 104 GW 94 GW Hydro Thermal 46 GW 234 GW Private 181 GW Nuclear 7 GW 7 13-05-2021 Power Sector construct Long-term (89%) Short-term (11%) 1,272 BU (incl REN) Bilateral: Exchanges: Up to 25 years DSM Less than 1 year Real Time (1hour) – 11 days 89% 3% 6% 2% Exchanges (Only up to 11 Bilateral & Deviation days) Banking Settlement/ Long-term PPA ➢Day Ahead Transactions Unscheduled Market, Term Ahead, Interchange Real Time, GTAM, Certificates 8 13-05-2021 • Source: CERC, data available till Jan 2021. Fast growing Exchange Markets Exchanges (BU) Bilateral (BU) DSM (BU) 34% YoY 67 64 58 25 1.0% 56 56 24 54 23 -33% YoY 48 19 YoY 35 FY18 FY19 FY'20 YTD Jan'21 FY18 FY19 FY'20 YTD Jan'21 FY18 FY19 FY'20 YTD Jan'21 Driven by competition and flexible procurement, the Exchange markets constitute 50% of power market. • Source: CERC 9 Deepening India’s Power Markets 91% 49% 47% 39% 34% 23% 15% 6% Nordpool Germany UK Netherlands Switzerland Belgium France India Markets are in the range of 30-80% in developed economies. At 6%, India has an opportunity to deepen the power market. Source: CRISIL Study 11 Increasing share in short term market Exchange Market and ST Market - % of Total Consumption – India Share of exchanges in short-term market 30.2% 34.4% 37.2% 36.9% 41.2% 54.0% Share of exchanges in total consumption Share of ST market in total consumption % 2 % . 1 6 1 . % 9 % % 8 0 1 % 9 . 9 6 . . 9 . 9 9 % 1 . 6 % % % % 6 9 . 3 1 . 4 % 3 . 3 9 . 3 . 2 11 13-05-2021 FY16 FY17 FY18 FY19 FY'20 YTD JAN FY'21 Energy Consumption bound to grow • Per capita consumption in India is 1/3rd of global average • Per capita consumption expected to double in the next 5-6 years 1268 1284 1272 1205 • Economic activity will accelerate 1135 • Government envisions India as an industrial hub 1091 • Core sector growth will drive electricity consumption • Rapid urbanization • 17 of 20 world’s fastest growing cities in India FY'16 FY'17 FY'18 FY'19 FY'20 FY'21 • Consumer demand growth • Last mile connectivity - Saubhagya : Power for All • Power on 24x7 basis 12 13-05-2021 In this presentation: Sector in transformation Electricity value chain IEX : Who we are COVID - 19 Way forward 13 India’s premier technology-led energy marketplace • Nation wide, Automated and transparent trading platform for physical delivery of electricity, renewables & certificates • Commenced operations in 2008; CERC regulated • Publicly listed company (NSE and BSE) • ISO 9001:2015, ISO 27001:2013, ISO 14001:2015 • Robust ecosystem 4400+ Industries I 55+ Discoms (all) I 100+ ESCert Entities 500+ Generators I 1500+ RE Generators & Obligated entities • Market Leader: 95% (DAM & RTM >99%) • Electricity volume CAGR 32% since 2008 • Average daily trade 8000+ MW ; Record day volume : 308 MU’s (12,900 MW) Leading the future of energy with innovation and technology 14 Benefitting Power Sector….and the nation • Provides benchmark prices for all electricity transactions • Transparent Mechanism for Price Discovery • High liquidity on exchange has ensured lowest cost and assured supply Truly benefited Indian Power Sector Generation Transmission Distribution Signals for Generating Capacity Investments in transmission- • Lower power prices for addition (~20 GW Merchant plants) congestion free – One Grid One discoms, end consumers. Price • Avoids buying under take-or- pay contracts. • Flexibility on 15-min basis Robust Eco-system 4400+ 55+ 500+ DISTRIBUTION GENERATORS INDUSTRIES UTILITIES 99% 99% 32% MARKET MARKET CAGR SHARE IN DAM SHARE IN RTM SINCE 2008 The Green Market and the Real-time Markets are poised to build India as a sustainable energy economy. 13-05-2021 17 Most Competitive Prices - Over the years IEX Volume Trader Volume IEX Wt. Avg Price Bilateral Price 60 8 50 7 49 59 50 47 45 6 40 40 4.23 4.32 5 3.91 39 4.42 4.34 36 30 36 3.73 29 4.27 35 28 4. 3 3 5 0 4.1 3 3 4 35 3.54 34 3.61 4.03 3.67 4 3.58 3.47 3.46 3.41 3.1350 28 22 2.89 2.71 2.49 2.64 3 20 14 20 2 12 10 1 - -1 FY 11 FY12 FY13 FY14 FY15 FY16 FY 17 FY 18 FY 19 FY20 FY21 Source: CERC MMC Reports* Till Jan-21 18 18 Market Segments Day-Ahead Market • Delivery for next day since Jun 2008 • Price discovery: Closed, Double-sided Auction Term-Ahead Contracts • For delivery up to 11 days since Sep 2009 • Intra-day, Day-ahead Contingency, Daily Contracts, Weekly Contracts Continuous Real-Time Market • Delivery within an hour since 1 Jun, 2020 • Price discovery: Closed, Double-sided Auction Green Term Ahead Market • Intra-day, DAC , Daily and Weekly Auction since 21 Aug, 2020 Renewable Energy Certificates • Green Attributes as Certificates: (1) Sellers: RE generators not under feed in tariffs since Feb 2011 (2) Buyers: Obligated entities; 1MWh equivalent to 1 REC Energy Saving Certificates • 1 ESCert= 1 Mtoe( Metric Tonne Oil Equivalent) since 27 Sep, 2017 • Trading session every Tuesday | Trading time 13:00 hrs. to 15:00 hrs. 19 13-05-2021 Growing @32% CAGR since inception 73,941 53,881 52,168 46,215 40,528 34,287 28,923 28,347 2,616 FY'09 FY'14 FY'15 FY'16 FY'17 FY'18 FY'19 FY'20 FY'21 Source: IEX Data (DAM+TAM+RTM+GTAM) 20 13-05-2021 Data based on delivery volumes Product-wise Key Statistics DAM + TAM RTM GTAM REC ESCerts Market Share 92% 99.9% 99.9% 76% 100% (FY 20-21) State 29 States 28 States 19 States 29 States 29 States Utilities 5 UTs 4 UTs 3 UTs 5 UTs 5 UTs Generators 500+ 206 12 408 183 Industrial 4400+ 439 14 2989 97 Consumers 174,584 MWh 31,147 MWh 3,520 MWh 7,733 MWh Average Daily Highest : 2,66,004 Highest: 62,772 Highest: 22110 Highest: 107,971 NA Volume MWh MWh MWh MWh 21 13-05-2021 Data based on delivery volumes IEX Data as on 31st March 2021 New Markets Segments FY21 (Apr-Mar) REAL TIME MARKET GTAM MARKET ✓Buy – 12.22 ✓Buy – 1.930 ✓Sell – 24.07 ✓Sell – 1.684 ✓Cleared – 9.47 ✓Cleared -0.785 VOLUME (BU) VOLUME (MU) ✓ Average – 2.78 ✓ Average -3.87 ✓ Min – 0.02 ✓ Min – 2.82 ✓ Max – 19.99 ✓ Max – 9.00 PRICE (Rs/Unit) PRICE (Rs/Unit) ✓ Top 5 Buyers – J&K, Telangana, Rajasthan, ✓ Top 5 Buyers – CESC, Haryana, DVC, AP, W Bengal Vedanta, Tata Power ✓ Top 5 Sellers – NLC, MP, Odisha, West ✓ Top 5 Sellers – Telangana, PCKL, Choudhary Bengal Power, Amplus, MRN CANE PARTICIPATION PARTICIPATION ✓Highest Daily Cleared Volume – 68 MU ✓60% of Cleared Volume is sold by Telangana ✓Top 5 Buyers Purchase 57% of Total ✓Top 5 discoms trade almost 78% of the total Cleared Volume cleared Volume. ✓Daily Avg sell bid was 2 times of buy bid. ✓Max Sell Volume in a day- 31 Mus ✓Cleared Volume in a Single Day-22.11 MUs HIGHLIGHTS HIGHLIGHTS Technology at the Core CUSTOMER CENTRIC EFFICIENT STATE OF THE ART Image To be Added • Digital Experience • Security and seamless uptime • National Open Access Registry • Secure Web and Mobile • Comprehensive Product Portfolio • Integration of NOAR access • Longer Duration Contract • Economic Surplus/Social • Integrated bids across • Green Day Ahead Market Welfare optimization segments (GDAM) • MILP • Ease of Bidding • Cross Border Transactions • Data Insights • Member API launch • Automation • Bid Data Analytics for • Smart Power Procurement • Real Time reporting senior management • Alerts/Notifications • Power market data • SAP integration analytics 23 Driven by customer centricity S – Self-service web/mobile applications • enable customers' anytime anywhere easy access I – Intelligent process automation • reduce customer effort; insights to enable effective decision making M – Matching engine optimization • increase social welfare P – Product launches • meet the needs of all customer segments L – Learning opportunities for our customers • experiential learning for customers through organizing events E – Energy portfolio management solutions • optimize procurement cost for customers Create effective solutions to fulfil all Power Procurement related needs of our customers 24 Robust financial performance Consolidated Financials Rs Cr 100.3 96.1 83.9 79.6 80.5 Breakup of standalone Q4 FY FY Q4 FY FY 62.6 58.1 61.5 45.6 revenues (%) 2020 2020 2021 2021 Transaction Fees 81% 80% 88% 84% Q4FY20 Q3FY21 Q4FY21 356.2 Admission and Annual Fees 7% 6% 5% 5% 297.4 289.0 242.4 206.1 Other Income 12% 14% 7% 11% 175.7 FY20 FY21 Robust business model and financial strength Total Revenue EBITDA PAT * PAT attributable to owner of the equity In this presentation: Sector in transformation Electricity value chain IEX : Who we are COVID - 19 Way forward 26 NO LOCKDOWN AT IEX! • Supporting distribution companies in supplying 24*7 uninterrupted power • Enabling replacement of costly PPAs through buying on exchange • Launched RTM and GTAM with high availability during the lockdown • Extensive customer engagements and communication drives • Providing round-the-clock operations with seamless connectivity and high security • End to end automation allowing remote working • Pivoting on employee safety as the first principle 27 Providing significant savings to DISCOMs “Maharashtra discoms turn to energy exchanges, shun costly PPAs” – PTI – April 12, 2020 "We are increasingly buying power from exchanges, which is cheaper than PPA tariffs," an official from state utility Mahavitaran “Power Exchanges Account for 51% of short –term trade” – Economic Times – Jan 20, 2021 A top official in Andhra Pradesh said the state saved Rs. 1,024 crore or Rs. 1.43 per unit of electricity purchased during April-December 2020 by purchasing power from exchanges. 28 In this presentation: Sector in transformation Electricity value chain IEX : Who we are COVID - 19 Way forward 29 Transitioning towards a Futuristic Tech Architecture Automated • Digital Inside Manual Workflow • Open API Integration Digital Mesh • Robotic Process Automation Modular • Service Oriented Architecture Monolithic • Automated Bank Integration Digital Twins Desktop-based All Platforms • Web-based Portal • Trading App • Customer Survey Driven Disparate System Intuitive System UX Design • Unified Risk Management • Proactive Alerts Configurable • Re-architecture Limited Products Products • Long Duration Contract, RTM • In-house Tech Centre • Product: GMEX, UTrade, • NParogadruroc,t : GMEX, UTrade, In-house Partnerships TwiNlioa,garro, Twilio • System Design: Cap Gemini, Development • System Design: Cap Gemini, TCIL, Akamai TCIL, Akamai, • Automation Anywhere, • Automation Anywhere, UIPath, 13-05-2021 PUeInPtaathho, Pentaho 30 Customer Experience Transformation Platform access beyond 70+ Members • Anytime, Anywhere, Secure Web and Mobile access to 70+ Members, 6000+ Clients, Senior Leaders across Members and Clients, key Stakeholders in the Power Sector Personalized and Deep Data Insights for effective Decision making (Real time and trend data) • Bid Details (Cleared, Un-cleared, Distribution of un-cleared Buy and Sell from Clearing Price, etc…) • DSM and RTM comparison • Generation, Transmission Lines Outage • Demand, Weather Bid upload Automation through APIs, and through auto-flow of un-cleared Bids across market segments Digital / Paperless processes • Online Registration and Updates • National Open Access Registry (NOAR) integration Robust Business Continuity through seamless DC to DR switch 31 Immense growth potential • 100% household electrification under SAUBHAGAYA scheme Demand for Electricity • Rapid urbanization - 17 of 20 world’s fastest growing cities in India • Per capita electricity consumption is expected to increase by ~ 40% in the next 4 years • Total capacity likely to phase out by March 2027: 41 GW Phasing out of Plants • Incremental ~100BU opportunity for Exchange • No new long-term PPAs signed in the last 5 years in thermal power. No new PPAs and • ~20GW of untied merchant capacity in the country Merchant Sell at reasonable rates • Ample availability of cheap coal. E-Auction premium on coal: Apr-Dec 2020 – 5% as compared to 32% (Apr-Dec 2019) 32 Immense growth potential • Budget 2021: Proposed Rs 3 lakh crore distribution reform package to promote competition, consumer choice and increase penetration of automation and technology • Sharing of ISTS Charges & Losses Regulations 2020: ✓ Will increase DISCOM participation on exchange Favorable Policy and ✓ Increased opportunity for sale of URS power by DISCOMs Regulatory Initiatives • Draft proposal for Enabling Discoms to exit from PPA after completion of 25 years will increase supply side liquidity • Market Based Economic Dispatch: 100% of power dispatch through Exchanges 33 Immense growth potential • Efficient price discovery has been the biggest growth driver for exchanges in the past • Discoms can source cheaper power through Exchange to meet shortages Efficient Price discovery • Industries can source competitive power to reduce their input costs • Prices at Exchange always lower than Bilateral contracts • Exchange provides flexibility to purchase power as per requirement throughout the year • Option available to Buy/Sell different quantum for each 15 mins time block. Minimum Flexibility bid quantum can be as low as 0.1 MW • Availability of power within 1hour of requirement • New product launches – Longer Duration, Green Day Ahead, Integrated DAM (RE and Conventional) New launches • Derivatives 34 • Diversification opportunities – Play in the energy basket of India Indian Gas Exchange (IGX) OUR VISION To lead India’s transition towards a gas-based economy by architecting next generation solutions for natural gas trading and access. 1st natural gas Automated platform 01 02 trading with cutting edge exchange technology Efficient & transparent 03 04 Indigenous market driven price price discovery discovery mechanism 35 IGX Opportunity • Under Paris Climate Agreement, govt commitment to reduce carbon emissions will promote use of Natural Gas • Government’s vision of increasing share of Natural Gas in total energy basket from 6% to 15% by 2030 will increase gas consumption in the economy from current 160 MMSCMD to 600+ MMSCMD • CGD 9th and 10th round to cover 70% of Indian population. Proposed 11th round will cover a significant part of the population. • Presently only ~22MMTPA LNG regasification capacity (50%) utilized out of ~40MMTPA. Further~30MMTPA LNG terminal capacity is additionally planned. • Existing pipeline capacity of 18,000 Kms will be doubled in the next 2 years. • Presently out of 160 MMSCMD of gas consumption only 30 MMSCMD is imported through short term. • Additional demand will be largely met by RLNG imports and large part of incremental 400+ MMSCMD of gas will be met through Short term markets. Indian gas sector is poised for a breakout growth in demand, led by CGD coupled with increasing dependency on imported LNG. Supported by ramp up in LNG terminal and gas T&D infrastructure enabling short term trading of gas. 36 Way forward 1. Expand coverage and market • Launch new products • Advocacy to increase short term market 2. Best in class, futuristic Technology Infrastructure • Enterprise IT, trading platform • Technology & analytics solutions for customers 3. Strengthen the organisation • Capacity building, hi-performance culture • Talent acquisition, development and retention 4. Business diversification • Play in the energy (eg. - gas) basket of India • Energy efficiency technology solutions INDIANENERGYEXCHANGEANNOUNCESAUDITEDFINANCIALRESULTSFORTHE FOURTHQUARTERANDYEARENDEDMARCH31,2021 ● IEXdeliversunprecedentedperformanceinfiscalyear2021with37.3%YoYgrowthin theelectricityvolumes. ● FY’21PATgrows17.3%YoYwithPATmarginat57.9% ● 62.1%YoYgrowthinelectricityvolumesinQ4FY’21. ● Digitaltransformationandnewmarketsegments–RTMandGTAM,werethekeygrowth driversforCompanyinthefiscalyear2021. NewDelhi,May14,2021: The key highlights of the audited consolidated* financial results for the Fourth quarter endedMarch31,2021asdeclaredbytheCompanyonMay13,2021areasbelow: (AmountinRscrores) Particulars Q4FY21 Q3FY21 QoQ% Q4FY20 YoY% FY21 FY20 YoY% ElectricityVolume(MU) 22428.4 20,174.7 11.2% 13,835.1 62.1% 73,965.4 53,861.6 37.3% RECVolume(in‘000) - - - 2,374.0 -100.0% 696.7 6,027.4 -88.4% TotalRevenue 100.3 96.1 4.4% 79.6 26.0% 356.2 297.4 19.8% TotalOperatingExpense 16.3 15.6 4.5% 17.0 -4.1% 67.2 55.0 22.2% EBITDA 83.9 80.5 4.4% 62.6 34.2% 289.0 242.4 19.2% FinanceCost,Depreciation 4.1 4.8 -14.6% 5.0 -18.0% 18.6 16.8 10.7% &Amortization IncomeTaxExpense 19.0 17.6 8.0% 12.0 58.3% 65.0 49.9 30.3% PAT 60.8 58.1 4.8% 45.6 33.6% 205.4 175.7 16.9% PATAttributableto: IEX 61.5 58.1 6.0% 45.6 35.1% 206.1 175.7 17.3% Non-Controlling interests -0.7 - - - - -0.7 BasicEPS(NotAnnualized) 2.1 1.9 5.8% 1.5 34.7.% 6.9 5.9 17.1% DilutedEPS(Not 2.1 1.9 5.8% 1.5 34.7% 6.9 5.9 17.1% Annualized) *abovefinancialsareconsolidatedtoincludefinancialsofIndianGasExchange- subsidiaryofIndianEnergyExchangeincorporatedonNovember06,2019. *allvolumenos.arebasedontradedquantity. POWERSECTORHIGHLIGHTS Theelectricityconsumptionsawarobustincreaseof8.9%YoYwhilethepeakdemandalso saw7.4%YoYgrowthinQ4FY’21.Overall,forthefiscalyear2021,thepeakdemandgrew 4%YoYreaching189GWinFebruary’21whereastheelectricityconsumptionremainedat par with the previous fiscal year. The firstsix months saw a significant decline in electricity consumptionwithApril2020showcasingthesteepestdeclineof-23.2%YoY.Therecovery Page1of4 was led by improvement in economic activities due to the relaxation of lockdown restrictionsacrossthecountry.ManufacturingPMIreboundedto58.9–thehighestoverthe lasteightyearsinOctober2021,from-57.3inApril2020. AsofMarch2021,theinstalledpowergenerationcapacityat382GWsaw3.3%YoYgrowth. The renewable capacity saw about 9% YoY growth with cumulative capacity at 94 GW in fiscalyear2021.Thisconsiderablegrowthingreenpowerreiteratesthefast-pacedenergy shift that has been underway and an increased impetus on building a sustainable energy economy. Onthepolicyandregulatoryfront,theGovernmentintroducedmanyfuturisticinitiativesto supporttherevivalofthepowersector.Toensureviabilityofthedistributionsegment,the PowerMinistryintroducedElectricity(Amendment)Bill2020proposingamendmentstothe Electricity Act 2003 introducing distribution reforms and facilitating competition and consumer choice. Further, during the Union Budget 2021-22, the Honourable Finance Minister introduced the revamped reforms-based result-linked power distribution sector schemewithanoutlayofRs3lakhcroresover5years.Morerecently,theMinistryofPower issued the Draft National Electricity Policy, 2021 underlining the most pertinent issues of the power sector and further increasing the role of power markets – aiming at market to represent25%sharebytheyear2023-24. Other key developments undertaken by the Ministry of Power included introduction of a proposal enabling the distribution utilities to exit the Power Purchase Agreement after completion of the term of the Agreement and notification of Electricity (Rights of Consumers) Rules, 2020. These initiatives are pro-power market and are expected to increase sale of powerby the generators aswell as increased procurement by the utilities throughtheExchangeMarket. To further develop the power markets, CERC notified key regulations including: Power MarketRegulations2020whichallowsintroductionofelectricitycontractsbeyond11days; procedureforCrossBorderTradeofElectricitywhichallowsExchangestofacilitatetrading ofelectricitywithneighbouringcountriessuchasNepal,BhutanandBangladesh,.Besides, several State Regulators notified a Merit Order Dispatch & Power Purchase Optimization Regulations. Onthegasmarketsfront,PNGRBintroducedtheGasExchangeRegulationsinSeptember 2020.Apartfromthis,otherreformsmeasuresintroducedincludesimplificationofpipeline tariff structure, CGD Access Code regulations, and the Imbalance Management Services regulation. These developments are expected to facilitate the development of the gas marketsinthecountry. BUSINESSANDFINANCIALPERFORMANCEHIGHLIGHTS On a standalone basis revenue for the quarter grew by 28.2% YoY from Rs 79.4 Cr in Q4FY’20 to Rs 101.8 Cr in Q4 FY’21 largely attributed to a 41.0% increase in transaction Page2of4 revenue. For the fiscal year 2021, this growth was 20.3% YoY with revenue at Rs 357.4 Cr. fortheyear.Q4FY’21sawthehighesteverquarterlyelectricityvolumeat22.4BUandalso highestevergrowthof62.1%onYoYbasis.Fiscal2021sawthehighesteveryearlyvolume of73.9BUtraded attheExchange since 2008, resultingin37.3% YoYgrowth.Thegrowth was driven by the competitive power prices creating traction with the distribution utilities as well as the industrial consumers, growing consumption of electricity, availability of adequate domestic coal, besides commencement of the new and much awaited market segments such as the real time market and the green market. The day-ahead market saw anaveragemarketclearingpriceofRs2.82perunitinthefiscalyear2021,about6%lower than the previous year price. Low power prices, and ample sell-side liquidity through the year helped the distribution utilities and industrial consumers to optimize their power procurementandmaintaingoodfinancialliquidityamidsttheCOVIDcrisis. Thereal-timeelectricitymarketwhichcommencedtradingon1June2020hasreceivedan incredibleresponsefromthemarketparticipants.Themarketcrossedthe1BUbenchmark for four consecutive months i.e., from December 2020 to March 2021. On a cumulative basis in Q4 FY’21, the market traded 3,766 MU. Since its commencement, the market traded9,468MUtill31stMarch2021. Anotherkeymarketsegment-greentermaheadmarket,whichcommencedtradingon21 August2020hascumulativelytraded785MUsincecommencement. As per the APTEL order, the stay in REC trading has been continuing since June 2020. Duringthefiscal,theRECmarketcouldonlycumulativelytrade6.97lakhcertificates. IEX remains committed to developing the energy markets and undertake investments in technologyinnovation,products,analyticsaswellastheautomatingprocesses.Weremain committed to support the economic and industry resurgence afflicted by Covid-19 pandemic,andareofthefirmviewthatdeepeningthepowermarketcouldpotentiallylead themuch-neededtransformationtowardsanefficient,competitive,andsustainableenergy andpowerecosystem. ************* ABOUTIEX IEX is India’s premier energy exchange providing a nationwide, automated trading platform for physical delivery of electricity, renewable power, renewable energy certificates and the energy saving certificates. The exchange platform enables efficient price discovery and increases the accessibility and transparency of the power market in India while also enhancing the speed and efficiency of trade execution. The Exchange is ISO Certified for quality management, Information securitymanagementandenvironmentmanagementsinceAugust2016.TheExchangeisapublicly listed company with NSE and BSE since October 2017 and is approved and regulated by Central Electricity Regulatory Commission since 27 June 2008. For further details, log on to: www.iexindia.com Page3of4 Ms.ShrutiBhatia MrVineetHarlalka Head–CorporateCommunication&CSR CFO&CompanySecretary Telephone:+91-120-4648100 Telephone:+91-120-4648100 Email:shruti.bhatia@iexindia.com Email:investorrelations@iexindia.com Page4of4