Indian Renewable Energy Development Agency Ltd
Indian Renewable Energy Development Agency Ltd was incorporated as a fully owned Govt. of India enterprise under the administrative control of the MNRE. Furthermore, the company was notified as a public financial institution and is also registered as a non-deposit taking NBFC with the RBI.
The company was established for the promotion, development and commercialisation of new and renewable sources of energy and provides financial assistance to energy efficiency and conservation projects. The Ministry of New and Renewable Energy, Government of India has given IREDA the 'Navaratna Status. RBI classified company as “Infrastructure Finance Company”.[1][2]
- Market Cap ₹ 46,055 Cr.
- Current Price ₹ 171
- High / Low ₹ 310 / 137
- Stock P/E 27.1
- Book Value ₹ 38.2
- Dividend Yield 0.00 %
- ROCE 9.57 %
- ROE 18.0 %
- Face Value ₹ 10.0
Pros
- Company is expected to give good quarter
- Company has delivered good profit growth of 51.3% CAGR over last 5 years
Cons
- Stock is trading at 4.44 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has low interest coverage ratio.
- Company might be capitalizing the interest cost
- Working capital days have increased from 1,185 days to 3,897 days
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Sector: Finance Industry: Finance - Term-Lending Institutions
Part of BSE 500 BSE 200 BSE PSU Nifty 500 BSE MidCap
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|
| 1,118 | 2,020 | 2,368 | 2,655 | 2,860 | 3,483 | 4,965 | 6,742 | |
| Interest | 646 | 1,183 | 1,459 | 1,570 | 1,587 | 2,088 | 3,164 | 4,141 |
| 88 | 431 | 649 | 495 | 430 | 232 | 85 | 471 | |
| Financing Profit | 384 | 406 | 259 | 590 | 843 | 1,163 | 1,716 | 2,130 |
| Financing Margin % | 34% | 20% | 11% | 22% | 29% | 33% | 35% | 32% |
| 0 | -72 | 5 | 3 | 14 | -0 | -1 | 12 | |
| Depreciation | 5 | 23 | 23 | 23 | 23 | 24 | 30 | 39 |
| Profit before tax | 379 | 311 | 241 | 570 | 834 | 1,139 | 1,685 | 2,104 |
| Tax % | 28% | 20% | 11% | 39% | 24% | 24% | 26% | 19% |
| 272 | 250 | 215 | 346 | 634 | 865 | 1,252 | 1,699 | |
| EPS in Rs | 346.56 | 3.19 | 2.73 | 4.42 | 2.77 | 3.78 | 4.66 | 6.32 |
| Dividend Payout % | 20% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 20% |
| 5 Years: | 23% |
| 3 Years: | 33% |
| TTM: | 36% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 20% |
| 5 Years: | 51% |
| 3 Years: | 39% |
| TTM: | 36% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -8% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 16% |
| 3 Years: | 17% |
| Last Year: | 18% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 785 | 785 | 785 | 785 | 2,285 | 2,285 | 2,688 | 2,688 |
| Reserves | 1,394 | 1,799 | 1,737 | 2,211 | 2,984 | 3,651 | 5,872 | 7,578 |
| Borrowing | 7,439 | 18,753 | 21,854 | 24,000 | 27,613 | 40,165 | 49,687 | 61,936 |
| 663 | 3,181 | 3,277 | 3,298 | 3,827 | 4,347 | 4,354 | 7,532 | |
| Total Liabilities | 10,280 | 24,518 | 27,652 | 30,293 | 36,708 | 50,447 | 62,600 | 79,734 |
| 33 | 303 | 282 | 266 | 248 | 229 | 361 | 349 | |
| CWIP | 7 | 0 | 0 | 0 | 131 | 144 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 99 | 99 | 99 | 626 |
| 10,241 | 24,215 | 27,370 | 30,027 | 36,230 | 49,975 | 62,140 | 78,760 | |
| Total Assets | 10,280 | 24,518 | 27,652 | 30,293 | 36,708 | 50,447 | 62,600 | 79,734 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|
| -5,018 | -1,709 | -3,206 | -5,254 | -12,343 | -11,100 | -14,461 | ||
| -37 | -0 | -2 | -107 | -17 | -23 | -543 | ||
| 3,736 | 2,141 | 2,441 | 5,271 | 12,368 | 11,059 | 14,960 | ||
| Net Cash Flow | -1,319 | 431 | -767 | -90 | 7 | -64 | -44 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|
| ROE % | 8% | 13% | 15% | 15% | 17% | 18% |
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Change in Management
6h - Appointed Pallav Kapoor as Additional GM Risk; Ekta Madan as Chief Manager; recommended secretarial auditor for 5 years.
-
Filing Of Application Under Section 7 Of Insolvency And Bankruptcy Code, 2016 Against M/S Gensol EV Lease Limited, Subsidiary Of M/S Gensol Engineering Limited
16 May - Filed insolvency application against subsidiary Gensol EV Lease for Rs. 218.95 Cr default.
-
Announcement under Regulation 30 (LODR)-Change in Management
15 May - Deepak Kumar Barik appointed Executive Director (Law) at IREDA from May 15, 2025.
-
Intimation Under Regulation 30 Of SEBI (LODR) Regulations, 2015
14 May - RBI exempts IREDA from regulations for 5% equity investments in Nepalese hydropower firms.
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
14 May - Schedule for Analyst/ Institutional Investors meetings to be held on 15.05.2025 and 16.05.2025.
Business Profile[1]
Company is the nation's largest pure-play green financing NBFC. It provides a comprehensive range of financial products and related services, from project conceptualization to post-commissioning, for Renewable Energy (RE) projects and other value chain activities, such as equipment manufacturing and transmission.
The company is 75% owned by GoI.[2]