| P&L Statement | 2023 | 2024 |
|---|---|---|
| Revenue | 15.5 | 36.4 |
| Cost of Material Consumed | 0 | 0 |
| Change in Inventory | 0 | 0 |
| Gross Margins | 100 | 100 |
| Employee Benefit Expenses | 9 | 10.3 |
| Other Expenses | 12 | 11.5 |
| EBITDA | -5.5 | 14.6 |
| OPM | -35.48 | 40.11 |
| Other Income | 1.9 | 7 |
| Finance Cost | 0 | 0.2 |
| D&A | 6 | 5 |
| EBIT | -11.5 | 9.6 |
| EBIT Margins | -74.19 | 26.37 |
| PBT | -10 | 17 |
| PBT Margins | -64.52 | 46.7 |
| Tax | 0 | 2 |
| PAT | -10 | 15 |
| NPM | -64.52 | 41.21 |
| EPS | -0.18 | 0.27 |
| Financial Ratios | 2023 | 2024 |
|---|---|---|
| Operating Profit Margin | -35.48 | 40.11 |
| Net Profit Margin | -64.52 | 41.21 |
| Earning Per Share (Diluted) | -0.18 | 0.27 |
| Assets | 2023 | 2024 |
|---|---|---|
| Fixed Assets | 15.3 | 11 |
| CWIP | 0 | 0 |
| Investments | 0 | 0 |
| Trade Receivables | 2.4 | 1.5 |
| Inventory | 0 | 0 |
| Other Assets | 127.3 | 302.5 |
| Total Assets | 145 | 315 |
| Liabilities | 2023 | 2024 |
|---|---|---|
| Share Capital | 55.25 | 55.25 |
| FV | 1 | 1 |
| Reserves | -14 | 1.3 |
| Borrowings | 0 | 0 |
| Trade Payables | 13 | 5 |
| Other Liabilities | 90.75 | 253.45 |
| Total Liabilities | 145 | 315 |
| Cash-Flow Statement | 2023 | 2024 |
|---|---|---|
| PBT | -10 | 17 |
| OPBWC | -6 | 14.5 |
| Change in Receivables | -2.3 | 0.89 |
| Change in Inventories | 0 | 0 |
| Change in Payables | 11.4 | -7.9 |
| Other Changes | 71.5 | 166.81 |
| Working Capital Change | 80.6 | 159.8 |
| Cash Generated From Operations | 74.6 | 174.3 |
| Tax | 0 | -1.2 |
| Cash Flow From Operations | 74.6 | 174.1 |
| Purchase of PPE | -10.7 | -0.05 |
| Sale of PPE | 0 | 0 |
| Cash Flow From Investment | -1.34 | -29 |
| Borrowing | 0 | 0 |
| Dividend | 0 | 0 |
| Equity | 0 | 0 |
| Others From Financing | -0.82 | -0.9 |
| Cash Flow from Financing | -0.82 | -0.9 |
| Net Cash Generated | 72.44 | 143.2 |
| Cash at the Start | 0.16 | 72.6 |
| Cash at the End | 72.6 | 215.8 |
Hindustan Power Exchange Limited (HPX India) is one of India’s fastest-growing power exchanges, offering a modern, technology-driven platform for electricity trading. Launched with the vision of creating a highly efficient, transparent, and competitive marketplace, HPX is promoted by leading industry players such as PTC India, BSE, and ICICI Bank. The exchange provides a wide range of electricity trading products, including Day Ahead Contracts, Term Ahead Markets, Renewable Energy Certificates (RECs), and Green Term Ahead Markets (GTAM). Its advanced digital infrastructure, high-speed matching engine, and streamlined settlement processes enable power producers, distribution companies, industrial consumers, and renewable energy developers to trade electricity with reliability and ease.
HPX India differentiates itself through innovation, faster transaction speeds, and customer-centric features. The platform is designed to support India’s evolving power landscape, which is shifting toward real-time power markets and increasing penetration of renewable energy. By offering competitive price discovery and reducing transaction costs, HPX enables stakeholders to optimize power procurement strategies and manage demand-supply fluctuations efficiently. The exchange also focuses on enhancing market depth by onboarding a wide spectrum of participants, from state utilities and IPPs to open-access consumers and green energy suppliers. Its emphasis on transparency and efficiency aligns with India’s broader goals of building a flexible and robust electricity market.
Hindustan Power Exchange Limited’s growing presence makes it an attractive prospect in India’s expanding power trading ecosystem. As the country transitions toward a more renewable-heavy grid and advanced market mechanisms, the demand for reliable power exchanges is poised to rise. HPX stands to benefit from reforms such as real-time markets, green power trading, and open-access policy improvements. While the exchange operates in a competitive space alongside established players, its strong promoters, modern technology framework, and expanding participant base position it well for long-term growth. For stakeholders in the power sector, HPX represents an emerging platform that supports efficient energy management and contributes to India’s evolving electricity market structure.
1. What are unlisted shares?
Unlisted shares are stocks of companies that are not traded on recognized stock exchanges like the National Stock Exchange or Bombay Stock Exchange. These shares are typically traded privately through brokers or platforms.
2. How can I buy unlisted shares in India?
You can buy unlisted shares through specialized brokers, wealth management firms, or private deals. The shares are transferred to your Demat account via off-market transactions.
3. Are unlisted shares legal in India?
Yes, investing in unlisted shares is completely legal in India, as long as transactions comply with regulations set by the Securities and Exchange Board of India.
4. What are the risks of investing in unlisted shares?
Unlisted shares carry higher risks, including low liquidity, limited transparency, price volatility, and lack of regulatory oversight compared to listed stocks.
5. How is the price of unlisted shares determined?
The price is usually based on company performance, demand-supply, recent funding rounds, and financial valuations. Unlike listed stocks, there is no real-time market pricing.
6. Can unlisted shares become listed in the future?
Yes, companies may go public through an IPO. For example, firms preparing for listing on exchanges like the National Stock Exchange can provide significant returns to early investors.
7. What is the tax treatment of unlisted shares?
Unlisted shares are taxed as capital gains. If held for more than 24 months, they are treated as long-term capital assets and taxed accordingly under Indian tax laws.
8. Do unlisted shares pay dividends?
Yes, some unlisted companies distribute dividends, but it depends on the company’s profitability and policies. Dividend payouts are not guaranteed.
9. Can I sell unlisted shares easily?
Selling unlisted shares can be difficult due to limited buyers and lack of a formal exchange. You typically need a broker or a willing buyer for an off-market transaction.
10. Who should invest in unlisted shares?
Unlisted shares are suitable for high-risk investors with a long-term horizon who understand private market dynamics and can handle liquidity constraints.