Indian Renewable Energy Development Agency Ltd

₹ 127 -0.63%

19 Jun - close price

About

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]

Key Points

Ownership:^[1] ^[2] {# {# https://www.icra.in/Rationale/ShowRationaleReport/?Id=142428#page=4 #}
The Govt. of India holds a 72% stake in the company as of FY26. It is of strategic importance to the GoI for the promotion and development of the renewable energy sector in India. The company was also conferred Navratna status in Apr 2024 and secured an Excellent MoU rating for the fifth consecutive year in FY25, achieving a score of 96.42 out of 100.

Website BSE NSE

Market Cap ₹ 35,719 Cr.
Current Price ₹ 127
High / Low ₹ 175 / 109
Stock P/E 19.1
Book Value ₹ 49.1
Dividend Yield 0.47 %
ROCE 8.69 %
ROE 15.6 %
Face Value ₹ 10.0

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Pros

Company has delivered good profit growth of 40.2% CAGR over last 5 years

Cons

Stock is trading at 2.59 times its book value
Company has low interest coverage ratio.
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 Dollex 200 BSE PSU Nifty 500 Nifty Midcap 100 Nifty 200 Nifty High Beta 50 BSE CPSE BSE Financial Services BSE 150 MidCap Index BSE 250 LargeMidCap Index BSE 400 MidSmallCap Index Nifty LargeMidcap 250 Nifty Midcap 150 Nifty MidSmallcap 400 Nifty 500 Multicap 50:25:25 Nifty Total Market BSE 200 Equal Weight Nifty500 Equal Weight Nifty500 LargeMidSmall Equal-Cap Weighted BSE Select IPO BSE 1000

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	1,036	1,143	1,177	1,253	1,391	1,510	1,630	1,698	1,904	1,947	2,057	2,130	2,175
Interest	638	764	793	760	847	975	1,030	1,032	1,104	1,218	1,213	1,233	1,241
	104	-66	-3	99	56	51	131	119	170	427	138	179	308
Financing Profit	294	445	387	394	488	484	469	548	630	302	706	718	626
Financing Margin %	28%	39%	33%	31%	35%	32%	29%	32%	33%	16%	34%	34%	29%
	0	0	0	0	0	0	1	1	11	12	1	10	6
Depreciation	6	6	7	8	9	9	9	10	11	10	10	11	13
Profit before tax	288	440	380	386	480	476	460	538	630	305	696	717	619
Tax %	12%	33%	25%	13%	30%	19%	16%	21%	20%	19%	21%	18%	20%
	254	295	285	336	337	384	388	425	502	247	549	585	493
EPS in Rs	1.11	1.29	1.25	1.25	1.26	1.43	1.44	1.58	1.87	0.88	1.95	2.08	1.75
Gross NPA %	3.21%	3.08%	3.13%	2.90%		2.19%	2.19%	2.68%	2.45%	4.13%	3.97%	3.75%	3.49%
Net NPA %	1.66%	1.61%	1.65%	1.52%		0.95%	1.04%	1.50%	1.35%	2.06%	1.97%	1.68%	1.29%
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	1,118	1,174	2,020	2,369	2,655	2,860	3,483	4,965	6,754	8,309
Interest	646	668	1,183	1,459	1,570	1,587	2,088	3,164	4,141	4,905
	88	84	431	649	495	430	232	85	471	1,052
Financing Profit	384	421	406	260	590	843	1,163	1,716	2,142	2,352
Financing Margin %	34%	36%	20%	11%	22%	29%	33%	35%	32%	28%
	0	1	-72	3	3	14	-0	-1	0	28
Depreciation	5	4	23	23	23	23	24	30	39	44
Profit before tax	379	418	311	241	570	834	1,139	1,685	2,104	2,337
Tax %	28%	29%	20%	11%	39%	24%	24%	26%	19%	20%
	272	298	250	215	346	634	865	1,252	1,699	1,873
EPS in Rs	346.56	379.86	3.19	2.73	4.42	2.77	3.78	4.66	6.32	6.67
Dividend Payout %	20%	53%	0%	0%	0%	0%	0%	0%	0%	20%

Compounded Sales Growth
10 Years:	22%
5 Years:	26%
3 Years:	34%
TTM:	23%

Compounded Profit Growth
10 Years:	20%
5 Years:	40%
3 Years:	29%
TTM:	10%

Stock Price CAGR
10 Years:	%
5 Years:	%
3 Years:	%
1 Year:	-23%

Return on Equity
10 Years:	%
5 Years:	16%
3 Years:	17%
Last Year:	16%

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	Mar 2026
Equity Capital	785	785	785	785	2,285	2,285	2,688	2,688	2,809
Reserves	1,394	1,799	1,737	2,211	2,984	3,651	5,872	7,578	10,972
Borrowing	7,439	18,753	21,854	24,000	27,613	40,165	49,687	64,740	77,846
	663	3,181	3,277	3,298	3,827	4,347	4,354	4,728	2,175
Total Liabilities	10,280	24,518	27,652	30,293	36,708	50,447	62,600	79,734	93,802
	33	303	282	266	248	229	361	349	320
CWIP	7	0	0	0	131	144	0	0	0
Investments	0	0	0	0	99	99	101	626	910
	10,241	24,215	27,370	30,027	36,230	49,975	62,138	78,760	92,572
Total Assets	10,280	24,518	27,652	30,293	36,708	50,447	62,600	79,734	93,802

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-5,018	-1,709	-3,206	-5,254	-12,343	-11,100	-14,461	-14,482
	-37	-0	-2	-107	-17	-23	-543	-281
	3,736	2,141	2,441	5,271	12,368	11,059	14,960	14,748
Net Cash Flow	-1,319	431	-767	-90	7	-64	-44	-15
Free Cash Flow	-5,055	-1,710	-3,209	-5,262	-12,360	-11,123	-14,488	-14,498
CFO/OP	-308%	-89%	-141%	-204%	-372%	-220%	-221%	-193%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
ROE %	12%		11%	8%	13%	15%	15%	17%	18%	16%

Insights

In beta

Mar 2015

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Employee Headcount
Count

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x,xxx.xx	x,xxx.xx	x,xxx.xx	x,xxx.xx	x,xxx.xx	x,xxx.xx	x,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx
x,xxx.xx	x,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx
x.xx	x.xx	x.xx	x.xx	x.xx	x.xx	x.xx	x.xx	x.xx	x.xx	x.xx
x,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx
xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx

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Gross NPA %
%

Loan Disbursements
INR Crore

Loan Sanctions
INR Crore

Net NPA %
%

Outstanding Loan Assets
INR Crore

Provision Coverage Ratio
%

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	71.76%	71.76%	71.76%	71.76%
	1.88%	1.36%	2.70%	2.02%	1.85%	1.74%	2.04%	1.92%	2.07%	2.14%
	4.37%	0.94%	0.42%	0.35%	0.63%	0.51%	2.95%	2.57%	2.51%	2.44%
	18.75%	22.70%	21.87%	22.62%	22.51%	22.74%	23.24%	23.75%	23.67%	23.65%
No. of Shareholders	13,67,953	21,47,272	22,43,293	26,16,555	26,19,358	26,79,938	26,69,472	26,56,617	25,75,369	25,19,677

	Mar 2024	Mar 2025	Mar 2026
	75.00%	75.00%	71.76%
	1.36%	1.74%	2.14%
	0.94%	0.51%	2.44%
	22.70%	22.74%	23.65%
No. of Shareholders	21,47,272	26,79,938	25,19,677

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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