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 ₹ 39,933 Cr.
- Current Price ₹ 142
- High / Low ₹ 266 / 137
- Stock P/E 25.6
- 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 3.73 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
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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: | -42% |
| 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
- Shareholder Meeting / Postal Ballot-Scrutinizer''s Report 2d
-
Intimation Under Regulation 30 Of SEBI (LODR) Regulations, 2015
2d - Correction of typographical error in name Shri Koushik Goswami in prior letter.
-
Announcement under Regulation 30 (LODR)-Change in Management
7 Aug - IREDA appoints seven senior management personnel including CTO, effective August 2025.
-
Shareholder Meeting / Postal Ballot-Outcome of AGM
7 Aug - 38th AGM held on Aug 7, 2025; financials approved, directors appointed, borrowing limits modified.
-
Announcement under Regulation 30 (LODR)-Change in Management
1 Aug - Shri Kuber Malhotra appointed CTO and GM (IT) of IREDA effective 01.08.2025.
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]