IEX Reports Record 141 BU Power Trade, 15% Profit Growth, Strong REC & Gas Market Gains

Indian Energy Exchange (IEX) ('Company') announces audited financial results for the financial year and fourth quarter ending March 31, 2026. 

Key highlights of the audited financial results for the financial year and fourth quarter ending March 31, 2026, as declared by the Company on 23rd April 2026, are listed below:

FY’26

• IEX Culminates Fy’26 With Highest Ever Traded Electricity Volume of 141 Bu, Increase of 17% YoY. 
• Consolidated PAT at Inr 492.9 Crore in Fy’26, Up 15% YoY.
• Board of Directors Announce Final Dividend of Inr 2/- Equivalent to 200% of Face Value of the Equity Share.

Q4FY’26

• Achieves Highest Ever Quarterly Traded Electricity Volume of 39.4 Bu in Q4fy’26, Increase of 24% YoY. 
• Consolidated PAT at Inr 129.8 Crore in Q4fy’26, Up 11% YoY.

POWER SECTOR UPDATE

On the power sector front, India’s electricity demand reached approximately 1,709 BUs, reflecting around 1% growth over the previous year. On the fuel side, ample fuel has been available at competitive prices. India's coal production recorded 1,041 million tonnes in FY’26. Coal inventory as of 31st March 2026 stood at 25 days.

During FY’26, enhanced wind, hydro, solar generation along with sustained supply from coal-based generation resulted in higher supply liquidity on the exchange platform, leading to a substantial decline in DAM and RTM prices. For FY’26, the Market Clearing Price in the Day-Ahead Market at INR 3.86/unit declined 13.7% compared to FY’25. Similarly, the Market Clearing Price in the Real-Time Market at INR 3.59/unit during FY’26 declined 16% compared to FY’25.

On the gas market front, IGX traded highest ever gas volumes of 76.8 million MMBtu in FY’26, a growth of 28% YoY. IGX recorded a profit after tax of INR. 41.9 Crore in FY’26, higher by 35% compared with INR. 30.9 Crore in FY’25.

During FY’26, ICX issued 179 lakh I-REC, recording a growth of over 200% compared with FY’25. ICX made revenue of INR 7.7 crore in FY’26, as compared to INR 3.4 crore in FY’25, achieving growth of 126% YoY.

Amazon India Commits $300M to Safer Jobs, Faster Deliveries and AI‑Powered Growth

Amazon India today announced that it plans to invest over INR 2800 crore (~USD 300M) to further strengthen associate safety, health, and financial wellbeing measures while strengthening one of India’s safest, fastest and most reliable operations network. This investment is part of the company’s broader plan to invest more than $35 billion in India by 2030, focusing on business expansion as well as three strategic pillars: AI-driven digitization, export growth, and job creation. Amazon will continue to expand both its core and quick commerce footprint to continue serving customers across India in minutes, hours, and days. This investment builds on the company’s INR 2000 crore (~USD 233M) investment in 2025, which enabled the launch of 17 new fulfillment centers, six sortation centers, and 75 last-mile delivery stations across India. In 2025, Amazon also launched its quick commerce offering, Amazon Now, and has since scaled it to over 300 micro-fulfillment centers across key cities to enable safer, faster deliveries.

“Since launching Amazon.in in 2013, we have built one of India’s safest, fastest, and most reliable operations networks, serving customers across every serviceable pin code in the country. At the heart of this network are our people, and we remain committed to raising the bar on associate safety, health, and financial wellbeing. This year, we are investing over INR 2800 crore (~USD 300 million) to further strengthen these efforts, while continuing to scale our operations network and advance the technology that enables faster, safer, and more reliable deliveries for customers. Our initiatives also align with national priorities such as Ayushman Bharat and Pradhan Mantri Jan Dhan Yojana, helping expand access to healthcare and financial inclusion for our associates,” said Abhinav Singh, VP - Operations, Amazon India and Australia.

Strengthening associate safety, health, and financial wellbeing

Amazon’s programs and initiatives for associates working across the network have long been aligned with several of the standards notified under the Labour Codes. This latest investment will further strengthen efforts focused on healthcare and financial security for tens of thousands of associates and partners. The efforts in 2026 include scaling Project Ashray to provide accessible rest facilities for delivery associates, expanding health and wellness programs such as Sushruta - a wide-ranging health and wellness program for long-haul truck drivers and their family members, along with new initiatives, while enabling access to preventive healthcare through nationwide medical camps. The company is also enhancing medical and accident insurance, while extending financial inclusion and social security access through the Samriddhi program by enabling enrolment in schemes like Ayushman Bharat Health Account and Pradhan Mantri Jan Arogya Yojana for Amazon associates and community members. In addition, Amazon continues to support education for associates’ children through the Pratidhi scholarship and mentorship program, reinforcing its commitment to holistic well-being across its operations network.

Investing in infrastructure and technology to strengthen operations

Amazon will invest in expanding and upgrading its pan-India operations network—including fulfillment centers, sortation centers, and delivery stations—to increase capacity and improve delivery speeds for customers in tier 2 and 3 cities across India. These investments will also support sellers and small businesses and contribute to local economic growth. The company also plans to more than double Amazon Now's footprint in the cities it currently operates in and to more cities across India. These investments will enable Amazon to serve customers across a wide range of delivery speeds - from minutes to hours to days, based on their needs.

Amazon's industry-leading facilities are climate controlled and built with advanced engineering systems to improve energy efficiency, enhance workplace safety, and support a more inclusive environment. The company continues to invest in cooling solutions such as enhanced ventilation, fans, spot coolers, access to cold water and hydrating beverages, safety and accessibility features for people with disabilities, and improved rest areas.

Amazon will invest in technology, including artificial intelligence (AI) and machine learning, to make its operations network safer and more efficient. This includes deploying tools to improve on-road safety through alerts for Delivery Service Partners and delivery associates on unsafe driving behaviors, and prompts for rest breaks, as well as using AI models to assess route complexity and enable more equitable workload distribution. It also includes enhancements to the Driver app with better navigation for unstructured addresses, improved earnings transparency, and simplified workflows.

Know more about Amazon’s initiatives for associates in 2026:

• Expanding rest facilities for delivery associates – Amazon will expand Project Ashray, its network of air-conditioned rest stops, beyond the current 100 locations in Delhi NCR, Bengaluru, Chennai, Mumbai, among others. These facilities provide comfortable seating, clean washrooms, drinking water, charging stations, and first-aid support, serving over 150,000 delivery associates every month, including those outside Amazon’s network.
• Expanding health and wellness support for associates and drivers – Programs such as Sushruta, a wide-ranging health and wellness program for long-haul truck drivers and their family members, will continue to expand alongside a new wellness program focused on mental health and ergonomic care.
• Providing access to preventive healthcare – Amazon will offer free health check-ups through nationwide medical camps, extending access to preventive care and building on its 2025 efforts, which included comprehensive health and wellbeing programs for tens of thousands of associates and partners. These ongoing camps provide preventive health screenings (eye, dental, BMI, and physician consultations), hydration guidance, and early detection support.
• Enhancing insurance coverage and wellness support – Amazon plans to strengthen medical and accident insurance for delivery associates working with Delivery Service Partners through upgraded Group Mediclaim and Group Personal Accident policies, with an integrated wellness package among the most comprehensive in the sector.
• Enabling access to financial and social security benefits – Through Samriddhi, Amazon will enable tens of thousands of associates and more than 200,000 community members to access government benefits such as e-Shram cards, health insurance, pension programs, and educational assistance across states including Gujarat, Haryana, Tamil Nadu, Karnataka, Maharashtra, Uttar Pradesh and West Bengal, among others.
• Supporting education for associates’ children – Under the Pratidhi program, Amazon will provide scholarships to children of associates from Class 3 to Class 12, including children with disabilities, along with mentorship from Amazon leaders. In 2025 alone, 5000 scholarships were awarded to associates' children.

Alvarez & Marsal Appoints Aditya Jain as MD to Scale GCC and Drive Analytics-led Transformation

Aditya Jain

Leading global professional services firm Alvarez & Marsal (A&M) India has announced the appointment of Aditya Jain as Managing Director within its Business Transformation Services practice. Based in Gurugram, Mr. Jain will focus on scaling A&M’s Global Capability Center (GCC) and strengthening its sector-capabilities, leveraging analytics and technology to deliver superior value to clients.

Mr. Jain has over 25 years of experience in building and scaling global businesses, with a strong track record of applying analytics and technology to drive client impact. He has extensive experience in developing high-performing teams and scalable platforms that deliver measurable business outcomes.

Prior to joining A&M, Mr. Jain was with the Boston Consulting Group (BCG), where he served as Executive Director and Global Head of Research, leading a global team of over 500 analysts. He also led BCG’s Global Capability Center in India, scaling a 900+ member team across knowledge, analytics and digital capabilities. Earlier, he was a core member of Evalueserve’s initial team, contributing to its growth into a global organization serving Fortune 1000 clients.

Himanshu Bajaj, Managing Director & Head – A&M India and GCC, said, “As organizations increasingly look to scale analytics and technology capabilities, Global Capability Centers are becoming central to delivering transformation at speed and scale. Aditya’s experience in building global teams and integrating analytics with business strategy will be instrumental in strengthening our platform and driving greater impact for clients.”

Manish Goyal, Managing Director and Head – GCC, A&M, added, “We are pleased to welcome Aditya to A&M’s Global Capability Center. His experience in building and scaling analytics and research capabilities will enhance our ability to serve global clients through our GCC. He brings strong leadership in capability building and innovation, which will be key to expanding our platform and delivering differentiated outcomes.”

Aditya Jain, Managing Director, A&M Global Capability Center, said, “Global Capability Centers are evolving into strategic engines for innovation, analytics, and digital transformation. Organizations are increasingly leveraging these platforms to build scalable, future-ready capabilities. A&M’s integrated approach and focus on execution provide a strong foundation to help clients unlock value from these investments, and I look forward to contributing to this journey.”

About Alvarez & Marsal

Founded in 1983, Alvarez & Marsal is a leading global professional services firm. Renowned for its leadership, action, and results, Alvarez & Marsal provides advisory, business performance improvement, and turnaround management services, delivering practical solutions to address clients' unique challenges. With a worldwide network of experienced operators, world-class consultants, former regulators, and industry authorities, Alvarez & Marsal helps corporates, boards, private equity firms, law firms, and government agencies drive transformation, mitigate risk, and unlock value at every stage of growth.

To learn more, visit: AlvarezandMarsal.com.

Jio and Allianz Forge 50:50 Insurance Venture in India

• This partnership brings together Jio Financial Services’ leading digital capabilities and distribution reach with Allianz’s global expertise in insurance to support the national vision of 'Insurance for All by 2047'.
• The joint venture will offer comprehensive and innovative protection solutions to the people and businesses of India across general and health insurance.

Jio Financial Services Limited (JFSL) and Allianz Group (Allianz), through its wholly-owned subsidiary Allianz Europe B.V., today entered into a binding agreement to form a 50:50 primary insurance joint venture (JV) – covering general insurance and health insurance – to serve the rapidly expanding Indian insurance sector. The binding agreement formalizes a partnership first announced in July 2025.

This partnership will bring together two highly trusted financial services brands, recognized for their commitment to customer-centricity, to deliver innovative and accessible protection solutions tailored to the specific needs of the people and businesses of India. Customers in India will benefit from the combination of JFSL’s extensive digital reach and deep understanding of the Indian market and Allianz’s high-quality insurance products and services that reflect a distinguished history of expertise and care for protecting what matters most to people.

The JV will launch operations upon receipt of the necessary statutory and regulatory approvals. JFSL and Allianz are also working towards a separate binding agreement for life insurance business in India.

India’s strong economic progress and favourable demographics underscore the growing need for long-term financial security and inclusive protection solutions. With a young population and a rising middle-class, expanding insurance coverage is essential to strengthening the country’s long-term resilience by protecting its citizens and their assets. To meet these needs, the joint venture will aim to create a fundamentally differentiated way of designing, distributing, and delivering insurance solutions at scale in India.

For JFSL, enabling access to world-class insurance is central to its mission of empowering every Indian with simple, secure, seamless, and smart financial solutions – delivered digitally, at scale, and built around the needs of people at every income level.

Mukesh D. Ambani said:

Our Founder, Shri Dhirubhai Ambani, built Reliance on one abiding belief - that the power of the best must be made available to every Indian, not just the privileged few. Jio Financial Services is proud to carry that belief into financial services.

Insurance is not just a product, but it is the foundation upon which families build their futures with confidence and are able to pursue their ambitions without fear. 'Insurance for All by 2047' is a national mission and every institution that has been entrusted with the scale and trust of the Indian people has a duty to fulfil it. Jio Financial Services is committed to doing exactly that.

I am proud to partner with Allianz, one of the world's most respected insurance groups, across the insurance value chain as our exclusive insurance partner. I believe that the combination of Jio's unmatched digital consumer reach and Allianz's deep global insurance expertise is uniquely powerful.

Together, we will deliver world-class insurance solutions to every corner of India — simple to understand, easily accessible through our wide-spread channels, affordable, and powered by technology that works for every Indian. This is our commitment to every Indian, and our contribution to the ‘Viksit Bharat’ vision.”

Oliver Bäte, Chief Executive Officer, Allianz SE, said:

Allianz Group is the most valuable and trusted insurance brand worldwide, a distinction earned over 136 years of supporting the protection needs and growth ambitions of our customers, who come to us from all walks of life. As part of our purpose, we keep promises that transcend borders and span generations

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By combining our expertise, high-quality products, and exceptional service with the unrivalled reach and capabilities of Jio Financial Services, our exclusive partner across the insurance value chain in India, we will create a more resilient and financially secure future for India, and will help to make the ‘Insurance for All by 2047’ vision a reality.

Our two companies share a profound conviction in the importance of inclusive economic growth and the powerful role that insurance plays in creating shared, sustainable prosperity for more people. Together, we will make protection simpler, more accessible, and more relevant for individuals, families, entrepreneurs and businesses across the country, and we will build a completely new insurance model for India: one designed around customers and their needs.”

Eveready Opens India’s First Alkaline Battery Plant in Jammu

Eveready Industries India Ltd., the country’s leading battery brand with over 52% market share in the dry cell battery segment, announced the inauguration of India’s only operating alkaline battery facility in Jammu by the Hon’ble Lieutenant Governor (LG) of the Union Territory of Jammu and Kashmir, Shri. Manoj Sinha. The state-of-the-art greenfield facility, unveiled in the presence of Mr. Mohit Burman, Promoter and Non-Executive Director, Eveready Industries India Ltd, is in line with the company’s endeavor to support the Government’s ‘Make in India’ vision.

Eveready’s new manufacturing plant, set up with an investment of approximately INR 200 crore, boasts of a robust annual peak production capacity of approximately 360 million alkaline batteries with an annual installed capacity of 456 million. Marking a significant scale-up in the industry’s production capabilities, Eveready’s Jammu facility will give an impetus to India’s domestic manufacturing while catering to the country’s growing demand for high-performance power solutions. Further, the plant will help reduce India’s import dependence, enhance supply chain resilience, and improve margin efficiencies. In addition to this, the facility will help Eveready expand business through white labelling and serve domestic and various international markets. This initiative reinforces Eveready’s ambition to emerge as a global player in the alkaline battery segment.

Speaking on the occasion, Shri Manoj Sinha, the Hon’ble Lieutenant Governor (LG) of the Union Territory of Jammu and Kashmir, said, “Today I inaugurated Eveready Industries India Limited’s new industrial unit in Samba. With an investment of Rs. 200 cr, this plant will create local jobs, boost ancillary units, generate opportunities for women, youth & make a significant contribution to economic growth of J&K.”

Eveready’s modern facility will play a crucial role in supporting the company’s expansion in the high-growth alkaline segment while meeting the consumer demand which is driven by increasing adoption of high drain devices across India. By strengthening local manufacturing, generating over 500 direct and indirect employment opportunities at full scale in the Jammu region, the company also aims to contribute to India’s ‘Atmanirbhar Bharat’ vision in the energy solutions category, while ensuring consistent quality and supply.

Speaking on the inauguration Mr. Anirban Banerjee, CEO, Eveready Industries India Ltd., said, “We thank the Government of Jammu & Kashmir for their support in enabling this landmark development. The commissioning of India’s only operating alkaline battery facility marks a significant milestone not just for Eveready, but for the country’s evolving energy landscape. As consumer demand shifts towards high-performance, power intensive devices, the need for advanced battery technologies has never been greater. This facility strengthens our commitment to building future-ready, premium and long-lasting energy solutions while contributing to India’s vision of self-reliance in manufacturing. We believe this will play a pivotal role in shaping the next phase of growth for the battery category in India.”

With its alkaline portfolio steadily approaching 20% market share, the company aims to further strengthen its presence in the premium battery segment through continued innovation, expanded distribution, and localized manufacturing capabilities.

Mr. Bibek Agarwala, Executive Director & Chief Financial Officer, said, “This project underscores the company’s commitment to value creation and to support the Government's 'Make in India' initiative. With the inauguration of this modern alkaline facility in Jammu, we will be able to benefit from economies of scale and reduce our dependence on imports, leading to improved efficiency in operations. This helps us leverage the demand that is rapidly rising in the alkaline space, which is becoming increasingly important in the battery category while laying a strong emphasis on premiumization.”
Eveready’s new facility has been designed with a strong commitment to the highest standards of safety, environmental stewardship - responsible resource utilization, energy efficiency, and sustainable manufacturing processes. The unit is equipped with a 1 MW rooftop solar installation, an annual generation capacity of approximately 1.2 million units, a rainwater harvesting system of 275 KLD, and is designed to operate on a zero-discharge basis.
Eveready has touched over 250 million households over decades, building deep-rooted consumer trust and category leadership. As the alkaline battery segment continues to witness strong growth and increasing adoption, Eveready is well-positioned to further strengthen its market share through its expanding premium portfolio. In a time marked by a volatile and evolving macroeconomic environment, the company’s focus on innovation, localisation, and scale enables it to stay resilient while continuing to power everyday lives across the country.

With this milestone, Eveready Industries India Ltd., continues to strengthen its leadership in India’s dry cell battery market while pushing forward its innovation-led growth strategy. With seven manufacturing units across India, the company remains focused on expanding its premium portfolio, enhancing manufacturing capabilities, and delivering premium, reliable, high-performance power solutions to meet the evolving needs of consumers across the country.

About Eveready Industries India Ltd.
With a legacy of over 100 years, Eveready Industries India Ltd. (NSE Symbol: EVEREADY, BSE Scrip Code: 531508, CSE Scrip Code 000029) is a household name in batteries and flashlights, with an emerging presence in the consumer and professional lighting space.

Since its inception in 1934, Eveready has been at the forefront of the dry cell battery market, enriching the lives of millions with portable energy and lighting solutions. The company’s iconic catchphrase “Give Me Red” has become synonymous with trust and dependability, resonating with consumers across generations.

In 2023, the company embarked on a transformative journey, marked by the unveiling of its new infinity logo and the empowering tagline “Give Me Power, Give Me Red”. The pivotal year also witnessed the launch of its Ultima Alkaline battery range, designed to cater to the evolving needs of Indian consumers. In April 2026, Eveready has inaugurated India’s only operating alkaline battery facility in Jammu. Alongside Ultima Alkaline, Eveready today offers a comprehensive battery portfolio spanning carbon-zinc, alkaline, rechargeable, and lithium formats, making it India’s No. 1* battery brand.

Beyond batteries, Eveready also offers a wide range of flashlights and torches designed for everyday use, emergencies, and outdoor activities. This includes purpose-driven products such as the Eveready Siren Torch, which combines illumination with a built-in safety alarm, and India’s First Hybrid Torch, which offers dual power options via rechargeable and battery-based formats. Together, through these innovations, the company has emerged as India’s no. 1 flashlight brand.

The company has also strategically expanded its portfolio with an entry into the mobile accessories segment, mosquito racquets, small appliances, electrical accessories, wires, and MCBs to meet the dynamic needs of consumers.

Eveready’s manufacturing facilities are spread across India, namely Matia, Lucknow, Haridwar, Maddur, Kolkata, Jammu and they are equipped with globally benchmarked technology platforms and follow the best-in-class operating standards, with a relentless focus on quality (ISO 9000), environmental best practices (ISO 14000), and rapid adoption of technology. The company has a Research and Development (R&D) facility that is approved by the Department of Scientific and Industrial Research (DSIR), Ministry of Science and Technology, Government of India.

Website: https://www.eveready.in/

ReNew Launches 6 GW Solar Manufacturing Unit in Andhra Pradesh to Boost India’s Clean Energy Goals

• Andhra Pradesh Powers India’s Clean Energy Future: CM Nara Chandrababu Naidu to Lay Foundation Stone for ReNew’s ₹5,400 cr Solar Manufacturing Facility in Vizag on April 23
• Key project delivered under Andhra Pradesh’s integrated Clean Energy Policy 2024

In a significant stride towards India’s clean energy ambitions and self-reliance goals, Andhra Pradesh is set to host the groundbreaking ceremony of a mega solar manufacturing facility by ReNew, a NASDAQ listed renewable energy company in Anakapalli district near Visakhapatnam on April 23.

This landmark project comes at a crucial time as India accelerates towards its ambitious renewable energy targets - aiming for 500 GW of non-fossil fuel capacity by 2030 - while simultaneously reducing import dependence and strengthening domestic manufacturing under the vision of Atmanirbhar Bharat.

At the forefront of this transformation is Andhra Pradesh’s Integrated Clean Energy Policy 2024, a forward-looking framework designed to attract large-scale investments, enable backward integration in manufacturing, and position the state as a global clean energy hub. The policy has already begun translating vision into action, with projects like ReNew’s setting new benchmarks in scale and impact.

The upcoming facility - a 6 GW solar ingot and wafer manufacturing unit - represents an investment of approximately ₹5,400 crore and is a key step in building a resilient domestic solar supply chain. By manufacturing critical upstream components such as ingots and wafers, the project will significantly reduce reliance on imports and strengthen India’s energy security.

The project is also part of ReNew’s broader ₹82,000 crore investment commitment in Andhra Pradesh, announced earlier, underscoring strong investor confidence in the state’s policy ecosystem and governance.

Once operational, the facility is expected to be commissioned within 24 months and generate over 2,100 direct and indirect jobs, further boosting industrial growth and employment in the region.

Hon’ble Chief Minister Shri N. Chandrababu Naidu will lay the foundation stone at the project site in the presence of senior leadership from ReNew, including Founder, Chairman & CEO Sumant Sinha, along with public representatives and industry stakeholders.

A Strategic Moment for India and Andhra Pradesh

This project exemplifies the convergence of national priorities and state-led execution:

• Advancing India’s renewable energy targets
• Enabling domestic manufacturing and backward integration
• Reducing import dependence in the solar value chain
• Creating jobs and driving regional economic growth

With its progressive policy framework, robust infrastructure, and proactive governance, Andhra Pradesh continues to emerge as a preferred destination for global clean energy investments.

As the state moves from policy to execution, the April 23 groundbreaking marks not just the launch of a project - but the strengthening of India’s journey towards a sustainable, self-reliant energy future.