Indian Renewable Energy Development Agency Ltd

Indian Renewable Energy Development Agency Ltd

₹ 273 0.22%
22 Jul 1:33 p.m.
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 GoI conferred the status of Mini Ratna under Category-I upon IREDA in June 2015.
RBI classified company as “Infrastructure Finance Company”.[1]

Key Points

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.

  • Market Cap 73,295 Cr.
  • Current Price 273
  • High / Low 310 / 50.0
  • Stock P/E 54.6
  • Book Value 31.8
  • Dividend Yield 0.00 %
  • ROCE 9.30 %
  • ROE 17.3 %
  • Face Value 10.0

Pros

  • Company has delivered good profit growth of 33.9% CAGR over last 5 years

Cons

  • Stock is trading at 8.51 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

* 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.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024
Revenue 869 1,036 1,143 1,177 1,253 1,391 1,510
Interest 524 638 764 793 760 847 975
105 104 -66 -3 99 56 51
Financing Profit 240 294 445 387 394 488 484
Financing Margin % 28% 28% 39% 33% 31% 35% 32%
0 0 0 0 0 0 0
Depreciation 6 6 6 7 8 9 9
Profit before tax 235 288 440 380 386 480 476
Tax % 14% 12% 33% 25% 13% 30% 19%
201 254 295 285 336 337 384
EPS in Rs 0.88 1.11 1.29 1.25 1.25 1.26 1.43
Gross NPA % 4.24% 3.21% 3.08% 3.13% 2.19%
Net NPA % 2.03% 1.66% 1.61% 1.65% 0.95%
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
Revenue 2,020 2,368 2,655 2,860 3,483 4,965 5,331
Interest 1,183 1,459 1,570 1,587 2,088 3,164 3,375
431 649 495 430 232 85 203
Financing Profit 406 259 590 843 1,163 1,716 1,753
Financing Margin % 20% 11% 22% 29% 33% 35% 33%
-72 5 3 14 -0 -1 1
Depreciation 23 23 23 23 24 30 33
Profit before tax 311 241 570 834 1,139 1,685 1,721
Tax % 20% 11% 39% 24% 24% 26%
250 215 346 634 865 1,252 1,341
EPS in Rs 3.19 2.73 4.42 2.77 3.78 4.66 5.19
Dividend Payout % 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: %
5 Years: 20%
3 Years: 23%
TTM: 43%
Compounded Profit Growth
10 Years: %
5 Years: 34%
3 Years: 53%
TTM: 45%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: %
1 Year: %
Return on Equity
10 Years: %
5 Years: 15%
3 Years: 16%
Last Year: 17%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 785 785 785 2,285 2,285 2,688
Reserves 1,799 1,737 2,211 2,984 3,651 5,872
18,753 21,854 24,000 27,613 40,165 49,687
3,181 3,277 3,298 3,827 4,347 4,354
Total Liabilities 24,518 27,652 30,293 36,708 50,447 62,600
303 282 266 248 229 361
CWIP 0 0 0 131 144 0
Investments 0 0 0 99 99 99
24,215 27,370 30,027 36,230 49,975 62,140
Total Assets 24,518 27,652 30,293 36,708 50,447 62,600

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
-5,018 -1,709 -3,206 -5,254 -12,343 -11,100
-37 -0 -2 -107 -17 -23
3,736 2,141 2,441 5,271 12,368 11,059
Net Cash Flow -1,319 431 -767 -90 7 -64

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
ROE % 8% 13% 15% 15% 17%

Shareholding Pattern

Numbers in percentages

2 Recently
Dec 2023Mar 2024Jun 2024
75.00% 75.00% 75.00%
1.88% 1.36% 2.70%
4.37% 0.94% 0.42%
18.75% 22.70% 21.87%
No. of Shareholders 13,67,95321,47,27222,43,293

* 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.

Click on the line-items to see the names of individual entities.

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