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INDIAN ENERGY EXCHANGE LTD.

NSE : IEXBSE : 540750ISIN CODE : INE022Q01020Industry : Power Generation/DistributionHouse : Private
BSE133.30-1 (-0.74 %)
PREV CLOSE ( ) 134.30
OPEN PRICE ( ) 132.25
BID PRICE (QTY) 0.00 (0)
OFFER PRICE (QTY) 0.00 (0)
VOLUME 1363
TODAY'S LOW / HIGH ( )130.00 135.00
52 WK LOW / HIGH ( )128.1 178
NSE134.30-0.1 (-0.07 %)
PREV CLOSE( ) 134.40
OPEN PRICE ( ) 134.40
BID PRICE (QTY) 134.30 (4)
OFFER PRICE (QTY) 0.00 (0)
VOLUME 238275
TODAY'S LOW / HIGH( ) 130.65 135.00
52 WK LOW / HIGH ( )127.25 178
AnalystEmailIdaayushi.goyal@narnolia.com
AnalystNameAayushi Goyal
BSECode540750
CP1DesignationMD & CEO
CP1NameMr. S.N. Goel
CP2DesignationCFO
CP2NameMr. Vineet Harlalka
CP3DesignationNA
CP3NameNA
CallDate30 Apr 2019
DescriptionGoI approved the recommendations of the high level committee constituted for revival of stressed power assets in the country. One of the recommendations proposes coal linkage for power plants, without PPAs, who sell power in the Day Ahead market of the Exchange. MoP issued cross border import-export guidelines allowing transactions through Power Exchange (DAM & TAM) for grid connected cross border countries. CERC linked deviation penalty for unscheduled interchange (known as DSM) to IEX prices and also introduced additional penalty for continued deviation. Earlier DSM rates were lower and many states were overdrawing from grid. Revised regulations will lead to better power purchase planning and shifting part of the over drawl by states to the Exchange platform. National Open Access Registry will act as single point interface for all the stakeholders and help to streamline open access application and clearance process It will significantly reduce the processing time and facilitate in reduction of gate closure time from 3 hours to one hour for exchange traded contracts. CERC issued staff paper proposing Re-designing Real Time Electricity Markets in India CERC also issued staff paper proposing redesigning of Ancillary Service Mechanism in India   Other Highlights: There was congestion free market on most of the days and volume curtailment due to congestion was only about 0.93% DAM volume in Nov and Dec 2018 has been flat mainly on the account of decline in Gujarat volumes due to the setup of Adani power plant in Gujarat. As per the management, ESCerts (Energy saving Certificates) are expected to happen in 4QFY20. The bilateral transactions increased in 4QFY19 mainly due to elections time many of the distribution companies had contracted power under bilateral route in advance. The company increased margin on REC from 2 paise to 4 paise .The treasury income has been higher at Rs 11 Cr in this quarter. The company started charging full transaction fees of Rs 20 from buyers as well from seller for REC from last quarter. There has been Rs 1.5 Cr of reversal in 4QFY19 on the account of provisions for discounts on REC fees in the earlier quarter which led to decline in transaction fees to Rs 52 Cr in 4QFY19 as against Rs 59 Cr in 3QFY19. Open access volumes declined to 11.2 BU in FY19 from 14.7 BU in FY18, the reason being higher prices reported. As per the management electricity generation increase forecast stands at 6% for FY20.If it happens then the management expects volume growth of 20% in FY20.The demand from rural area is expected to significantly increase due to 100% electrification under the Saubhagya scheme. Debtors increased from Rs 22 lakh in FY18 to Rs 46 Cr in FY19 due to the bank holiday on last days of FY19 which were recovered on April 1st itself. No other specific reason.
SubjectQ4FY19 EARNING CONFERENCE CALL

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