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 ₹ 41,754 Cr.
- Current Price ₹ 149
- High / Low ₹ 240 / 137
- Stock P/E 26.7
- Book Value ₹ 38.2
- Dividend Yield 0.00 %
- ROCE 9.37 %
- 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 3.89 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has low interest coverage ratio.
- Promoter holding has decreased over last quarter: -3.24%
- Company might be capitalizing the interest cost
* 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
Financial Services Financial Services Finance Financial Institution
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 | TTM | |
|---|---|---|---|---|---|---|---|---|---|
| 1,118 | 2,020 | 2,368 | 2,655 | 2,860 | 3,483 | 4,965 | 6,754 | 7,179 | |
| Interest | 646 | 1,183 | 1,459 | 1,570 | 1,587 | 2,088 | 3,164 | 4,141 | 4,384 |
| 88 | 431 | 649 | 495 | 430 | 232 | 85 | 471 | 846 | |
| Financing Profit | 384 | 406 | 259 | 590 | 843 | 1,163 | 1,716 | 2,142 | 1,949 |
| Financing Margin % | 34% | 20% | 11% | 22% | 29% | 33% | 35% | 32% | 27% |
| 0 | -72 | 5 | 3 | 14 | -0 | -1 | 0 | 24 | |
| Depreciation | 5 | 23 | 23 | 23 | 23 | 24 | 30 | 39 | 40 |
| Profit before tax | 379 | 311 | 241 | 570 | 834 | 1,139 | 1,685 | 2,104 | 1,933 |
| Tax % | 28% | 20% | 11% | 39% | 24% | 24% | 26% | 19% | |
| 272 | 250 | 215 | 346 | 634 | 865 | 1,252 | 1,699 | 1,562 | |
| EPS in Rs | 346.56 | 3.19 | 2.73 | 4.42 | 2.77 | 3.78 | 4.66 | 6.32 | 5.77 |
| Dividend Payout % | 20% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 20% |
| 5 Years: | 23% |
| 3 Years: | 33% |
| TTM: | 35% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 20% |
| 5 Years: | 51% |
| 3 Years: | 39% |
| TTM: | 16% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -34% |
| 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 | 64,740 |
| 663 | 3,181 | 3,277 | 3,298 | 3,827 | 4,347 | 4,354 | 4,728 | |
| 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 | 101 | 626 |
| 10,241 | 24,215 | 27,370 | 30,027 | 36,230 | 49,975 | 62,138 | 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
-
Board Meeting Intimation for Audited (Standalone & Consolidated) Financial Results Of The Company For The Quarter & Half Year Ended September 30,2025.
6h - Board meeting Oct 14, 2025 to consider audited standalone and consolidated results for quarter/half-year ended Sep 30, 2025.
-
IREDA - Business Performance Upto September 30, 2025 (Provisional)
30 Sep - Provisional performance to Sept 30, 2025: loans sanctioned ₹33,148cr; disbursed ₹15,043cr; loan book ₹84,445cr.
-
Closure of Trading Window
26 Sep - Trading window closed Oct 1, 2025 until 48 hours after board approves Q2/H1 results for Sep 30, 2025.
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
17 Sep - IREDA meetings with analysts/institutional investors on 22 and 26 Sep 2025; investor presentation; no UPSI discussed.
-
Announcement under Regulation 30 (LODR)-Change in Management
12 Sep - C&AG appointed M/s Shiv & Associates and M/s Rao Emmar as joint statutory auditors for FY2025-26 on Sept 10, 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]