INDIAN ENERGY EXCHANGE

Dated: April 29, 2019

The Manager BSE Limited Corporate Relationship Department Phiroze Jeejeebhoy Towers Dalal Street Mumbai- 400001

Scrip Code: BSE- 540750; NSE- IEX

The Manager National Stock Exchange of India Ltd Listing Department Exchange Plaza, 5th Floor, Plot no C/1 G Block, Bandra Kurla Complex Bandra (E), Mumbai-400 051

Subject: Investor Presentation on Financials Results for the quarter and Year ended March 31, 2019

Dear Sir / Madam,

With reference to above mentioned subject, please find attached Investor Presentation on Financials Results for the quarter and Year ended March 31, 2019.

This is for your information and records.

Thanking You

Yours faithfully,

For Indian Energy Exchange Limited

cet Harlalka Company Secretary & Compliance Officer

Encl: as above

www.iexindia.com

Indian Energy Exchange Limited Registered & Corporate Office: Unit No. 3, 4, 5 & 6, Plot No.7, Fourth Floor, TDI Centre, District Centre, Jasola, New Delhi — 110025

Tel: +91-11-4300 4000 I Fax: +91-11-4300 4015

CIN:L74999DL2007PLC277039

Earnings Release for Quarter and Year ended March 31st ,2019

Disclaimer

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Certain statements in this presentation describing the Company's objectives, projections, estimates and expectations may be 'forward looking statements' within the meaning of applicable laws and regulations. Although our expectations are based on reasonable assumptions, these forward-looking statements may be influenced by numerous risks and uncertainties that could cause actual outcomes and results to be materially different from those expressed or implied. The Company takes no responsibility for any consequence of decisions made based on such statements and holds no obligation to update these in the future. The past financial figures have been regrouped or reclassified as per the current grouping, where ever necessary.

IEX: India’s leading Power Exchange

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52 BUs of electricity traded in FY19 with an increase of 13% w.r.t. FY18

165.04 Crs PAT in FY19 with an increase of 25% w.r.t. FY18

Dominant market share of over 98% of traded volume in electricity

Traded volume on a day, crossed 306 million units (highest ever) on 29th Sept’18 in the Day Ahead Market

Diverse registered participants base of more than 6400

Business Model based on highly scalable and proven technology

Power Sector Updates (1/2) (As on 31st March,19)

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Installed capacity grew by 3.5 % Y-o-Y.

Domestic coal production increased by 6.6 % Y-o-Y.

Coal linkage for power plants selling in the Day Ahead Market of Exchange:

GoI 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.

Cross Border Electricity trade through Power Exchanges:

MoP issued cross border import-export guidelines allowing transactions through Power Exchange (DAM & TAM) for grid connected cross border countries. CERC also issued regulations on the same.

Member-Power System, CEA is the Designated Authority and is expected to issue the procedure for facilitating cross border import/export of electricity, shortly.

More stringent penalty under DSM (Deviation settlement mechanism), linked to IEX prices:

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.

Power Sector Updates (2/2) (As on 31st March,19)

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CERC issued regulation on National Open Access Registry (NOAR):

NOAR 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:

The paper proposes to introduce hourly auction market (through Exchange) for delivery in the next hour.

Real time market will help Discoms manage their deviations more efficiently.

CERC also issued staff paper proposing redesigning of Ancillary Service Mechanism in India:

The paper proposes that going forward all Inter/Intra-State generation resources to be able to

participate in providing ancillary services and bid simultaneously in Day Ahead Energy and Day Ahead Ancillary Services on the Exchange.

These policy and regulatory updates expected to have a far reaching impact on power exchange market in India.

Key Highlights (As on 31st March,19)

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FY 19 :

Robust growth in all India electricity demand by 5.2 % Y-o-Y

All India generation increased by 5.3% (from 1303 BUs to 1372 BUs)and IEX electricity (DAM & TAM)

trade volume increased by 13% in FY19 as compared to Y-o-Y.

Transaction fees increased by 14% at 234.52 Crs

Total revenue up by 15% at Rs. 294.16 Crs

EBIDTA increase by 15% at Rs. 242.90 Crs

EBIDTA margin at 83%

PAT increased by 25% at Rs. 165.04 Crs. (PAT at 56%)

IEX traded 52.19 BUs of electricity (DAM & TAM) w.r.t. 46.20 BUs traded in FY18 with an increase of

13% Y-o-Y. 89.55 lakhs of RECs were sold in FY-19 as compared to 93.29 lakhs of RECs sold in FY-18

with a decrease of 4% Y-o-Y due to lower inventory of REC.

Key Highlights (As on 31st March,19)

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FY 19 :

There was congestion free market on most of the days and volume curtailment due to congestion was

only about 0.93%.

Quarter IV, FY19 :

During Q-4, FY-19 IEX traded 9.91 BUs of electricity (DAM & TAM) w.r.t. 10.88 BUs traded in Q-4 FY 18

with an decrease of 9% Y-o-Y. 26.38 lakh of RECs were sold in Q-4, FY-19 as compared to 26.53 lakh of

RECs sold in Q-4 FY 18 with decrease of 1 % Y-o-Y due to lower inventory of REC.

Financial Highlights _ Financial Year (As on 31st Mar)

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Particulars FY 18 FY 19 Y-o-Y

Total Revenue 256.07 294.16 15%

Operating Expenses 45.58 51.26 12% EBITDA 210.49 242.90 15% EBITDA Margin (%) 82% 83% PBT 200.00 231.75 16% Tax 68.31 66.71 (2%) PAT 131.69 165.04 25%

Cash Profit 141.96 175.46 24%

EPS* (Not Annualized)

- Basic (Rs.) 4.46 5.47 23%

- Diluted (Rs.) 4.41 5.46 24%

(Rs. in Crs)

Detailed Yearly Financial (As on 31st Mar)

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Particulars FY 18 FY 19 Y-o-Y

Revenue

Transaction Fees 205.59 234.52 14% Admission & Annual Fees 24.86 19.56 (21%) Other Income 25.62 40.08 56%

Total revenue 256.07 294.16 15%

Expenses Employee benefits 24.08 24.83 3% Other expenses 18.45 22.94 24% CSR Expenses 3.05 3.49 14% Finance costs 0.23 0.73 217% Depreciation & amortization 10.27 10.42 1%

Total expenses 56.08 62.41 11%

Profit before tax (PBT) 200.00 231.75 16%

Total Income Tax Expense 68.31 66.71 (2%)

Profit After Tax (PAT) 131.69 165.04 25%

(Rs. in Crs)

Revenue Breakup analysis _ Financial Year

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80%

10%

10%

FY18

Transaction Fees Admission & Annual Fees Other Income

80%

7%

13%

FY19

Transaction Fees Admission & Annual Fees Other Income

Financial Highlights _ Quarter IV (As on 31st march)

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(Rs. in Crs)

Particulars QIV FY18 QIV FY19 Y-o-Y

Total Revenue 62.86 67.84 8%

Operating Expenses 11.65 11.69 - EBITDA 51.21 56.15 10% EBITDA Margin (%) 81% 83% PBT 48.23 53.04 10% Tax 16.79 15.18 (10%) PAT 31.44 37.86 20%

Cash Profit 34.38 40.41 18%

EPS* (Not Annualized)

- Basic (Rs.) 1.04 1.25 20%

- Diluted (Rs.) 1.04 1.25 20%

Detailed Financial _Quarter IV (As on 31st Mar)

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Particulars QIV FY18 QIV FY19 Y-o-Y

Revenue

Transaction Fees 49.21 52.08 6% Admission & Annual Fees 5.97 4.37 (27%) Other Income 7.68 11.39 48%

Total revenue 62.86 67.84 8%

Expenses Employee benefits 6.15 6.17 - Other expenses 3.40 3.55 4% CSR Expenses 2.10 1.97 (6%) Finance costs 0.05 0.56 1020% Depreciation & amortization 2.93 2.55 (13%)

Total expenses 14.63 14.80 1%

Profit before tax (PBT) 48.23 53.04 10%

Total Income Tax Expense 16.79 15.18 (10%)

Profit After Tax (PAT) 31.44 37.86 20%

(Rs. in Crs)

Revenue Breakup analysis _ Quarter IV

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78%

10%

12%

QIV FY18

Transaction Fees Admission & Annual Fees Other Income

77%

6%

17%

QIV FY19

Transaction Fees Admission & Annual Fees Other Income

5101

6441

5962

4981 4899

7408

8543

4611 4568 4864

3763 4444

5506

6123

7918

7337 7337 7688

8141

6937 7225

7652

7212

7765

4055

4918 4965

4054 4019

5725

6505

3404 3059

3281

2794

3356

3.98

4.67

3.73 3.46

3.34

4.69

5.94

3.59

3.30

3.33 3.08 3.11

0.00

1.00

2.00

3.00

4.00

5.00

6.00

7.00

0

1000

2000

3000

4000

5000

6000

7000

8000

9000

Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 Oct-18 Nov-18 Dec-18 Jan-19 Feb-19 Mar-19

Purchase Bid (MUs) Sell Bid (MUs) Cleared Volume (MUs) MCP (Rs/Unit)

Day Ahead Market _ FY19* (As on 31st Mar,19)

14 *DAM Volume taken on delivery basis

Thank You