Share Price Target

IEX is India’s premier power exchange, providing a nationwide automated trading platform for the physical delivery of electricity, renewable energy, and certificates. IEX additionally introduced cross-border electricity trade, to expand our market reach beyond India.

The exchange platform has been instrumental in providing competitive price discovery, bringing efficiency, transparency, flexibility in procurement and payment security across the power sector value chain.

The IEX ecosystem today comprises more than 8,100 stakeholders located across 28 states and 8 union territories. It has a strong foundation of more than 4900 commercial and industrial users representing various industries such as metal, textile, cement, chemicals, automobiles, information technology, real estate, and several more.

By helping discover the most efficient price, IEX enables maximization of social welfare for all the participants.

• 110.1 BU Trading Volumes 14% YoY
• 550.8 Cr. Consolidated Revenue 16% YoY
• 350.8 Cr. Consolidated PAT 15% YoY

At IEX, our commitment to excellence is deeply rooted in our core values, guiding every aspect of our operations as we navigate the complexities of India’s energy landscape.

With a relentless focus on flexibility, transparency, and customer centricity, we have cultivated a culture of excellence that drives us to constantly
innovate and exceed expectations. Our unwavering dedication to our values empowers us to build trust, foster meaningful relationships, and deliver sustainable value to all our stakeholders.

As a value-driven organisation, we remain steadfast in our mission to shape the future of energy in India, driving positive change and creating lasting impact.

IEX PROMISE

• Power on Demand 24×7
• Transparency through Standardised Contracts
• Competitive Prices driving Social Welfare Maximisation
• Payment Security with Robust Risk Management Principles
• Flexibility to Trade in 15-Mins Time Block

India’s story is one of remarkable ascension. Its population, currently at 1.4 billion, is projected to reach 1.5 billion by 2030, solidifying its position as a global powerhouse. The economy is booming with a growth of 8.2% in FY’24.

This economic vibrancy is mirrored in rapid urbanisation, as the World Bank estimates India’s urban population to reach 600 million by 2036.

Tata Motors Limited (TML), a $29 billion# organisation, is a leading global automobile manufacturer, offering a diverse portfolio of smarter, integrated and safer mobility solutions.

We are recognised for our world-class quality, originality, engineering and design excellence. We are pioneering India’s EV transition, shaping the future of mobility in India.

FY25 highlights

• Sales units 13,41,969
• Group revenue 4,39,695 crore
• Market capitalisation 29 $Billion
• Profit after tax 28,149 crore
• R&D spends 33,569 crore
• Patents registered 508 TML**+JLR

Tata Commercial Vehicles (Tata CV)

India’s largest CV manufacturer offering the widest range of products and service portfolio catering to cargo and public mobility segments.

Tata Passenger Vehicles (Tata PV + Tata EV)

Legacy of superior design, advanced features, premium interiors and a robust powertrain while leading the way in electrification.

Jaguar Land Rover JLR

Our vision is to become proud creators of the world’s most desirable modern luxury brands for the most discerning of clients. JLR is a house of
four distinct and emotionally engaging brands that enable our clientsto live the exceptional: Range Rover, Defender, Discovery, and Jaguar.

• 1,16,144 crore Net worth
• 47,784 crore Investment spending
• 1,018 crore Net automotive cash

Tata Motors Commercial Vehicles has successfully restructured the business into eight distinct verticals, enhancing strategic focus and alignment and enabling sharper performance delivery.

Despite industry headwinds, the business gained market share and improved realisations in both Trucks and Buses. The performance of Small
Commercial Vehicles and Pickups is still not at desired levels, and we are working to address it with speed.

Hindustan Zinc is the World’s largest and India’s only integrated zinc producer. With more than 50 years of operational experience, we give highest priority to safety of our people and conservation of scarce natural resources through technology and innovation.

With a total R&R base of 453.2 million tonnes and an average zinc-lead grade of 6.5%, our mine life is over 25 years. Our fully integrated zinc operations currently hold around 77% market share in India’s primary zinc market. We are amongst the top 5 silver producers globally with an annual capacity of 800 MT.

• Total R&R 453.2 Mt
• Ore production 16.33 Mt
• Metal capacity 1.12 Mt
• Total captive capacity 603.16 MW

Hindustan Zinc are a Subsidiary of Vedanta Limited which owns 63.42% stake in the Company while the Government of India retains a 27.92% stake. We are listed on the NSE and BSE.

Zinc Demand Outlook

• Strengthening domestic zinc demand on back of consistently growing domestic steel production, which will grow further to 300 Mtpa by 2030.
• India’s economic outlook remains strong, with the manufacturing PMI consistently reflecting sectoral expansion, supported by upbeat
  consumer sentiment & robust demand.

Hindustan Zinc’s operations comprise lead-zinc mines, hydrometallurgical zinc smelters, lead smelter, pyro metallurgical lead-zinc smelter as well as sulphuric acid and captive power plants in northwest India. Total metal production capacity is 1.123 Mt.

We have facilities located in 5 districts of Rajasthan which includes Udaipur, Chittorgarh, Bhilwara, Rajsamand and Ajmer along with 1 district of Uttarakhand.

The facilities include Zawar Group of Mines, Rajpura Dariba Mine, Sindesar Khurd Mine, Rampura Agucha Mine and Kayad Mine along with zinc-lead processing facilities which include smelters at Debari, Chanderiya and Dariba and a silver refinery at Pantnagar in Uttarakhand.

1. Hindustan Zinc Fertilisers Private Limited:
2. Hindustan Zinc’s DAP/NPK Fertilizer Plant at Chanderiya aims to support farmers’ needs through production and sale of DAP Fertilizers currently being imported.
3. Allows better utilization of Sulphuric acid generated in operations through production of Fertilizers, making the country future-ready.
4. This will contribute to the environment circuitously, enabling us to fetch right margins.

RattanIndia Enterprises Limited is the flagship company of Rattanindia Group for its new age growth businesses. The company is focused on businesses with cutting edge technologies which have the potential to transform the lives of billion plus Indians. RattanIndia Enterprises Limited comprises of tech focussed new age businesses including e-commerce, electric vehicles, fintech and drones.

Key Quarterly Highlights

•  FY25 Total Income : Rs 6,876 Cr vs Rs 6,192 Cr in FY24 (Increase of 11%) ; FY25 PAT : Rs 81 Cr.
•  Q4FY25 Total Income : Rs 1,510 Cr vs Rs Rs 1,300 cr (Increase of 16%).
•  Q4FY25 PBT of Rs 20.3 cr before unrealized notional loss of Rs 412 Cr (on MTM movement on investment in shares of RattanIndia Power Ltd ).

India is home to one of the largest young populations in the world. An aspiring population that will drive India towards its goal of $ 5 trillion economy.

Digital ecosystems are driving the next generation change in the country and technology will play a vital role in solving India scale problems.

RattanIndia Enterprises Limited will be at the forefront of this change with businesses with large addressable markets and potential to solve fundamental problems of the country.

Our philosophy on business

• New Age businesses
• ESG compliant
• Direct to consumer engagement
• Staying away from debt-heavy businesses
• Low capex
• Clean tech focus
• Rapid scalability
• Aiming to be amongst the leaders

India has second largest internet enabled population and third largest e-commerce consumer base in the world with e-commerce penetration of less than 5%. RattanIndia Enterprises Limited through its wholly owned subsidiary Cocoblu Retail Ltd. is one of the largest online sellers in India across multiple product categories.

Cocoblu Retail Ltd. is committed to scale up brands and help them to reach their true potential through digital channels.

India is the largest two-wheeler market in the world and RattanIndia Enterprises Ltd. is committed to enable clean and green commute in India. Revolt Motors, the market leader in electric motorcycles in India is focused on making electric vehicles accessible to all Indians.

RattanIndia Enterprises Ltd is leading the charge in Fintech through Wefin, a digital lending marketplace offering instant personal loans, two-wheeler loans, and credit cards to customers in partnership with leading banks and NBFCs in India.

Key Operational Metrics – Experiencing Strong Growth

• Q4 FY25 Revenue : Rs. 1,461 Cr vs Rs. 1,267 Cr in Q4 FY24 (Increase of 15%)
• Q4 FY25 Average daily sales run rate of Rs 15.9 Cr in vs. Rs 13.8 Cr in Q4 FY24 (Increase of 15%)
• ~13.7 Cr orders served in FY25 (~4.4 order every second)
• Serviced ~ 31 Cr orders since inception
• Have tied up with ~183 Amazon fulfilment centres which enables to deliver across the country
• More than 20,000 pin codes served across the country
• 1,200+ active vendors in Q4 FY25 (Q4FY24 1000+ Vendors)
• Achieved 4.7-star review ratings on Amazon Platform (211k reviews)
• Robust processes built on best-of-breed tech tools help in managing the details of retail
• Big data and advanced ML algos keep Cocoblu on top of the complexity that comes with dealing with an assortment of ~64 lakh unique items.

NeoSky India Ltd, a wholly owned subsidiary of RattanIndia Enterprises Ltd. is leading the way in drone industry in India with its 360° Drone-as-a-Product and Drone-as-a-Service portfolio.

Throttle Aerospace Systems (TAS), a subsidiary of NeoSky India is a market leader in enterprise, defence & delivery drones in India and currently counts marquee organisations as its clients. RattanIndia Enterprises Ltd. has made strategic investment in Matternet, US based market leader in urban drone logistics.

Drones systems are set to positively impact the core sectors of the economy and will prove to be extremely transformative by providing cost effective business solutions for developing countries like India.

The RattanIndia Enterprises Limited also has shareholding in Group’s thermal power business. The RattanIndia Enterprises Limited is listed on National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).