Investment Overview

Power Exchange India Limited (PXIL) is an unlisted company operating in the Utilities sector (Power Exchange). Power Exchange India Limited (PXIL) is a SEBI- and CERC-regulated power exchange promoted institutionally to facilitate electricity trading in India. PXIL provides market segments such as day-ahead, term-ahead, renewable energy certificates and energy-saving certificates, supported by clearing and s…

Strengths

• Regulated & Transparent: Operates under CERC, ensuring transparency and reliability for all participants.
• Product Diversity: Offers multiple sector segments—DAM, TAM, RECs, ESCerts—supporting wide trading needs.
• Strong Profitability: High PAT margins (above 40%) and regular growth in EPS and revenues.

Key Risks

• Asset-Light Model Risks: Reduced fixed assets may shape long-term infrastructure development.
• High Other Liabilities: There's prospects for Rising liabilities to show dependency on short-term obligations or advances.
• Moderate EBITDA Dip: EBITDA declined slightly in 2024 despite revenue growth, showing capability cost pressures

Valuation View

The current unlisted market price is ₹529.65 per share with a market capitalisation of approximately ₹3128 crore. The company is currently unlisted and investors should factor in illiquidity risk and longer holding horizons. Investors are advised to review the full financial data and consult an advisor before investing.