Indian Energy Exchange (IEX) is considering a share buyback as it reviews surplus funds, but its latest filing does not show how much can be returned to shareholders.
An unaudited consolidated filing with the National Stock Exchange of India (NSE) listed ₹1,871.91 crore (₹18.72 billion) in current investments at Sept. 30, 2026. Separate entries showed ₹11.90 crore in cash and cash equivalents and ₹58.88 crore in bank balances other than cash and cash equivalents. The filing does not identify a freely available amount for shareholder distributions.
IEX is a power exchange regulated by India’s Central Electricity Regulatory Commission (CERC). On the company’s Oct. 30 earnings call, Chairman and Managing Director Satyanarayan Goel said management was evaluating a buyback.
“This option is open. We are working on this,” Goel said. The call gave no proposed buyback amount, price, method or timetable, and included no formal board approval.
Chief Financial Officer Vineet Harlalka said IEX regularly distributed about 60% to 65% of profits as dividends and was exploring other ways to use surplus cash to create value for stakeholders. He said the company was looking for the “best possible option” for stakeholders.
Harlalka said “float money” is subject to exchange rules, bylaws and CERC regulations and cannot be used for other purposes. He also said IEX had conducted buybacks before, but tax changes a couple of years ago had made them less attractive to stakeholders; he did not specify which changes.
The filing reported consolidated net profit of ₹139.24 crore for the quarter ended Sept. 30, 2026. Management gave no date for a further buyback decision.
