Indian Energy Exchange Limited Annual Report for the FY 2025-26

Dated:August14,2026 TheManager TheManager BSELimited NationalStockExchangeofIndiaLtd CorporateRelationshipDepartment ListingDepartment PhirozeJeejeebhoyTowers ExchangePlaza,5thFloor,PlotNo.C/1 DalalStreet GBlock,BandraKurlaComplex Mumbai-400001 Bandra(E),Mumbai-400051 ScripCode:540750 Symbol:IEX Subject: Annual Report for the Financial Year 2025-26 along with the Notice of 20th AnnualGeneralMeeting. DearSir/Madam, Pursuant to Regulation 30 and 34 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘SEBI Listing Regulations’), we are submitting herewith the Annual Report of the Indian Energy Exchange Limited (the ‘Company’) for the Financial Year ended March 31, 2026, along with the Notice of 20th Annual GeneralMeeting(‘AGM’)oftheCompanytobeconvenedthroughVideoConferencing (VC)/OtherAudio-VisualMeans(OAVM). In accordance with the relevant circulars issued by the Ministry of Corporate Affairs (‘MCA’) and the Securities Exchange Board of India (‘SEBI’), the aforesaid Annual Report&AGMNoticeisbeingsenttotheMembersoftheCompanythroughelectronic mode only. Further, in accordance with Regulation 36(1)(b) of the SEBI Listing Regulations, a letter containing the web-link to access the Annual Report and AGM Notice of the Company is being sent to all those shareholders whose e-mail addresses are not registered with the Company/Registrar Transfer Agent/Depository Participant(s). Thescheduleforthe20thAGMoftheCompanyissetoutbelow: Particulars Details Wednesday,September9,2026,at11:00A.M.(IST) Date&TimeofAGM throughVC/OAVM. Cut-offDateforRemote Wednesday,September2,2026. E-Voting/E-VotingatAGM CommencementofRemote Saturday,September5,2026(09:00AMIST). E-Voting EndofRemoteE-Voting Tuesday,September8,2026(05:00PMIST). IncompliancewiththeprovisionsofSection108oftheCompaniesAct,2013,rulesmade thereunder and Regulation 44 of the SEBI Listing Regulations, Members are provided 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 withthefacilitytocasttheirvoteelectronicallythroughremotee-votingande-votingat theAGMonallresolutionssetforthintheaforesaidNoticeofAGM. The above information will also be made available on the website of the Company: www.iexindia.com Youarerequestedtotaketheaboveinformationonrecord. ThankingYou. Yoursfaithfully, ForIndianEnergyExchangeLimited VineetHarlalka CFO,CompanySecretary&ComplianceOfficer MembershipNo.ACS-16264 Encl:asabove NationalSecuritiesDepositoryLimited CentralDepositoryServices(India)Limited TradeWorld,4thFloor,‘A’Wing MarathonFuturex,25thFloor, KamalaMillsCompoundLowerParel, NMJoshiMarg,LowerParel(East) Mumbai-400013,Maharashtra Mumbai-400013,Maharashtra GROW.GIO.L.01.101, EMPOWERING EMPOWERING POWER MARKETS POWER MARKETS THROUGH TECHNOLOGY THROUGH TECHNOLOGY AANNNNUUAALL R REEPPOORRTT 2 2002255 -- 22002266 INDEX Corporate Overview Who We Are 02 Market Segments 03 Powering Sustainable Growth Through Innovation and Diversification 04 A Resilient and Future-Ready Power Sector 06 The Shift to Smarter Power Procurement 08 Green Markets: Technology Enabling A Sustainable Energy Future 12 Building An Intelligent, Resilient and Future-Ready Energy Market Ecosystem 15 Driving Value Through Innovation and Expanding Horizons 18 Building Smarter Energy Ecosystems 20 From Exchange to Energy Market Ecosystem 22 Message to Shareholders 27 Great Place to Work 32 Creating Value Beyond Business 34 Board of Directors 37 Leadership Team 38 Statutory Report Management Discussion and Analysis 39 Director’s Report 63 Corporate Governance Report 95 Business Responsibility and Sustainability Report 123 Financial Statements Standalone Financial Statements 167 Consolidated Financial Statements 227 Corporate Overview Statutory Report Financial Statements WHO WE ARE IEX is India’s premier electricity exchange providing a nationwide, automated trading platform for physical delivery of electricity, renewable energy and certificates including renewable energy certificates as well as energy saving certificates. The exchange platform enables efficient price discovery and increases accessibility and transparency of the energy market in India, while also enhancing the speed and efficiency of trade execution. The Exchange is ISO Certified for Quality Management, Information Security Management and Environment Management since August 2016. Indian Energy Exchange (IEX) is a publicly listed company with NSE and BSE since October 2017 and is approved and regulated by Central Electricity Regulatory Commission since 27 June 2008. VISION MISSION To be the architect of next- To leverage technology and generation solutions for innovation to establish transparent sustainable energy ensuring and efficient energy marketplace for competitive, transparent, and delivering affordable, reliable energy to consumers. reliable access. IEX PROMISE Power on Demand Transparency through 24x7 Standardised Contracts Competitive Prices Payment Security with driving Social Welfare Robust Risk Management Maximisation Principles Flexibility to Trade in 15-Mins Time Block 2 | Indian Energy Exchange Limited MARKET SEGMENTS =Om mim mim INTEGRATED TAM & G-TAM REC DAY-AHEAD MARKET Integrated Day-Ahead Market DAM since Term-Ahead Contracts since June’22 (up Renewable Energy Certificates since Jun’08 to 3 months) Feb’11 • Delivery for next day; 15-min delivery • Any day(s) single side Reverse Auction • Green Attributes as Certificates period, Daily trade • Daily (up to 90 days) • Sellers: Eligible Distribution licensees, • Double Sided Closed Bid Auction with • Weekly (up to 12 weeks) RE Generators and Open Access Uniform Price Consumers • Monthly (up to 3 months) • Price cap of `10/unit • Buyers: Obligated entities, Voluntary • Uniform Price Step Open Auction • 1MWh equivalent to 1 REC G-DAM since Oct’21 Green Term-Ahead Contracts since • Option to carry forward uncleared bids Aug’20 to conventional DAM; single price for • 15-min quotation of quantity and different RE-solar, non-solar and others price (`/MWh) RTM • Double Sided Closed Bid Auction with • Uniform Price Step Open Auction Uniform Price Real-Time Market since Jun’20 • Price cap of `10/unit High Price Term-Ahead Contracts since Oct’23 • Half-hourly market (48 times per day) HP-DAM since Mar ’23 • Contracts include HP-Daily, HP • Delivery for 30 min in two-time blocks • Segment within I-DAM on Day-Ahead Weekly, HP-Monthly of 15 min each basis • Uniform Price Step Open Auction • Double Sided Closed Bid Auction with • Double Sided Closed Bid Auction with Uniform Price Uniform Price mim • Delivery with one hour notice • Separate price discovery with price cap INTRADAY & DAY-AHEAD Ancillary Services (RTM-AS) since of `20/unit and floor price of zero CONTINGENCY MARKET Jun’23 • Market Clearing in sequential manner • Separate windows for TRAS-UP and G-DAM, DAM, HP-DAM Intraday & Day-Ahead Contingency TRAS-DOWN Market Segment since Jul’15 Ancillary Services (DAM-AS) since • Intraday Market: Hourly and/or Jun’23 15-minute contracts on same day on • Procurement of capacity for TRAS by rolling basis NLDC • Day-Ahead Contingency: 24-hourly • Separate windows for TRAS-UP and and/or 15-minute contracts on Day- TRAS-DOWN Ahead basis from 00:00 hours to 24:00 me= hours of next day • Green Intraday: Green DAC, High price ESCERTS Intraday and high price DAC also available Energy Saving Certificates since Sep’17 • Continuous matching • 1 ESCert = 1 Mtoe (Metric Tonne Oil Equivalent) IEX ACADEMY IEX Academy, an initiative of Indian Energy Exchange which aims to enhance expertise across the power sector. Launched in June 2023, it serves as a learning platform, bringing together industry professionals with interest in power markets. Through self [Showing first 8,000 characters — download PDF for full document]