Power Exchange India Limited (Power Exchange PXIL ) Return Comparision with Primex 40 Index

Periods	1 Week	1 Month	3 Months	6 Months	1 Year	3 Years	All Time
Primex-40
Power Exchange India Limited

Power Exchange India Limited Standalone Balance Sheet (Rs. in Crores)

Particulars	31-03-2026	31-03-2025
Non-current assets
Plant, property and equipment	0.59	0.42
Intangible assets	2.19	3.14
Intangible assets under development	3.42	-
Right of use assets	11.57	4.69
Non current bank balances	44.02	12.09
Other financial assets	3.10	0.65
Deferred tax assets	0.74	0.29
Non current tax assets	0.98	1.13
Other non current assets	0.39	0.06
Current assets
Investment	91.65	58.58
Trade receivables	0.40	0.09
Cash and cash equivalent	44.58	159.05
Bank balances other than above	41.82	80.64
Other current financial assets	3.17	5.32
Other current assets	0.41	0.31
Total assets	249.05	326.48
Equity
Equity share capital	58.47	58.47
Other equity	86.30	59.15
Non-Current liabilities
Lease liabilities	10.34	3.93
Provisions	2.43	1.78
Current liabilities
Lease liabilities	1.55	0.95
Deposits	15.41	15.41
Trade payables – total outstanding dues of micro and small enterprises	0.16	0.13
Trade payables – total outstanding dues other than above	4.46	6.05
Other financial liabilities	65.11	175.77
Other current liabilities	1.72	1.66
Provisions	2.09	2.49
Income tax liabilities	1.01	0.69
Total equity and liabilities	249.05	326.48

Power Exchange India Limited Standalone Profit & Loss Statement (Rs in Crores)

Particulars	31-03-2026	31-03-2025
Income
Revenue from Operations	86.38	77.08
Other Income	14.07	15.87
Total Income	100.45	92.95
Expenses
Employee benefits expense	17.60	14.87
Finance costs	0.86	0.73
Depreciation and amortisation expense	3.03	2.81
Other expenses	29.17	28.23
Total Expenses	50.66	46.64
Profit before tax	49.79	46.30
Current tax	13.21	11.50
Deferred tax	-0.47	0.31
Income tax adjustment relating to earlier years	-	-0.05
Profit/ Loss after tax	37.05	34.54
Other comprehensive income for the year
Items that will not be reclassified to P/L	0.05	-0.06
Tax on above	-0.01	0.02
Total comprehensive income for the year	37.09	34.50
Earning per share
Basic	6.34	5.91
Diluted	6.34	5.91

Power Exchange India Limited Standalone Cash Flow Statement (Rs in Crores)

Particulars	31-03-2026	31-03-2025
Cash Flow from Operating Activities
Profit for the year	49.79	46.30
Adjustment for -:
Depreciation and amortisation expense	1.67	1.75
Amortisation of right to use of assets	1.33	1.03
Interest on lease liabilities	0.45	0.32
(gain) on sale of investment	-3.90	-0.50
Lease rent termination	-0.09	-0.25
Net (gain) on investment measures at FVTPL	0.82	-1.36
Amortisation financial assets	0.03	0.03
Interest on fixed deposits	-8.34	-10.85
Provisions no longer required written off	-0.56	2.53
Interest income from financial assets at amortised cost	-0.03	-0.03
Adjustment for change in working capital
Trade receivables	-0.31	-0.06
Other Financial assets	-0.63	-1.17
Other non current assets	-0.33	-0.02
Other current asset	-0.06	-0.09
Provisions , Trade payables and liabilities	-111.29	-44.56
Cashflow generated from operations	-71.49	-6.95
Income tax paid (refund)	-12.74	-9.59
Net Cash from/(used in) Operating Activities	-84.23	-16.54
Cash Flow from Investing Activities
Purchase of PPE	-4.33	-1.19
Payment for investment in fixed deposits	-266.24	-341.11
Proceeds from fixed deposits	273.13	373.58
purchase for purchase of investment	-1,359.15	-77.49
Sale of investment	1,329.17	22.35
Proceeds from disposal of PPE	0.02	-
Interest received	8.66	10.68
Net Cash from / (used in) Investing Activities	-18.75	-13.18
Cash Flow from Financing Activities
Principle paid on lease liabilities	-1.10	-0.85
Interest paid on lease liabilities	-0.45	-0.32
Dividend paid	9.94	-8.77
Net Cash from/(used in) Financing Activities	-11.49	-9.94
Net Increase/decrease in Cash & cash equivalents	-114.47	-39.67
Cash and cash equivalents at the beginning of the year	159.04	198.72
Cash and cash equivalents at the end of the year	44.58	159.04

Summary of the Cash Flow Statement for the years 2026 and 2025:

Cash Flow from Operating Activities

The cash flow from operating activities shows a significant deterioration despite an increase in profit for the year from 46.30 to 49.79. The company has moved from a relatively smaller outflow of -16.54 to a much larger outflow of -84.23, indicating that accounting profits are not converting into cash. This sharp decline is primarily driven by adverse working capital movements, especially a large outflow in provisions, trade payables, and other liabilities. As a result, operating cash flow has turned substantially negative, highlighting weak cash conversion efficiency in the current year.

Cash Flow from Investing Activities

The investing activities reflect continued heavy movement in financial investments, particularly in fixed deposits and other investment instruments. While there are strong inflows from sale and maturity of investments, these are outweighed by significantly higher investment purchases, leading to a net cash outflow of -18.75 compared to -13.18 in the previous year. This indicates that the company is actively reallocating surplus funds into investments, which supports long-term financial stability but puts pressure on short-term liquidity.

Cash Flow from Financing Activities

The financing activities show a slightly higher outflow at -11.49 compared to -9.94 in the previous year. This is mainly due to lease-related payments and dividend distributions. The company continues to operate with minimal reliance on external borrowings, reflecting a conservative capital structure and low financial leverage.

Net Cash Movement and Closing Balance

Overall, the net decrease in cash and cash equivalents has widened significantly from -39.67 to -114.47, resulting in a sharp decline in closing cash balance from 159.04 to 44.58. Despite strong profitability, the company has faced considerable pressure on liquidity due to negative operating cash flows and increased investment activity. This reflects weak cash conversion in FY2026 and indicates tightening liquidity conditions, which need to be monitored closely going forward.

Financial ratios of Power Exchange India Limited.

Particulars	31-03-2026	31-03-2025
Current ratio (in times)	1.99	1.50
Return on equity (ROE in %)	28.27%	32.93%
Trade receivable turnover ratio (in times)	213.97	829.40
Trade payable turnover ratio (in times)	6.32	4.57
Net capital turnover ratio (in times)	0.94	0.76
Net profit ratio (in %)	42.93%	44.76%
Return on capital employed	40.92%	47.58%
Debt equity ratio (in times)	0.08	0.04
Debt service coverage ratio (in times)	20.88	23.97
Return on investment	7.02%	7.38%

Summary of Financial Ratios for the year 2026 and 2025.

Current ratio

The current ratio has improved from 1.50 in 2025 to 1.99 in 2026, indicating a strong improvement in liquidity. This shows that the company is now in a much better position to meet its short-term obligations comfortably, reflecting stronger working capital management and improved financial stability.

Return on equity

ROE has declined from 32.93% to 28.27%, showing a moderate reduction in the efficiency of generating returns for shareholders. Despite this decline, the return remains very strong, indicating that the company continues to generate substantial value for equity investors, though with slightly reduced efficiency compared to the previous year.

Trade receivable turnover ratio

The trade receivable turnover ratio has dropped sharply from 829.40 to 213.97, indicating a clear slowdown in receivables collection efficiency. This suggests either delayed customer payments or higher outstanding receivables, which may affect cash flow quality and requires close monitoring.

Trade payable turnover ratio

The trade payable turnover ratio has increased from 4.57 to 6.32, indicating that the company is paying its suppliers faster than before. This may reflect improved liquidity, but it could also suggest reduced flexibility in managing payables or weaker supplier credit terms.

Net capital turnover ratio

The net capital turnover ratio has improved from 0.76 to 0.94, showing better utilization of capital to generate revenue. This is a positive sign of improved operational efficiency, indicating that the company is generating more sales from its capital base than in the previous year.

Net profit ratio

The net profit ratio has slightly declined from 44.76% to 42.93%, but remains exceptionally strong. This indicates mild pressure on profitability, possibly due to increased costs or operational changes, though the company continues to maintain very high margins

Return on capital employed

ROCE has decreased from 47.58% to 40.92%, indicating a reduction in overall capital efficiency. However, the ratio remains very strong, showing that the company is still generating high returns from the capital employed despite a slight decline.

Debt equity ratio

The debt-equity ratio has increased slightly from 0.04 to 0.08, but remains extremely low. This confirms that the company continues to operate with minimal financial leverage and maintains a very conservative capital structure with low financial risk.

Debt service coverage ratio

The debt service coverage ratio has declined from 23.97 to 20.88, but remains at a very strong level. This indicates that the company has excellent capacity to meet its debt obligations comfortably, reflecting strong solvency.

Return on investment

Return on investment has slightly decreased from 7.38 to 7.02, indicating a mild decline in overall efficiency of capital deployment. However, the change is minor and does not signal any major concern regarding investment performance.