Indian Renewable Energy Development Agency Ltd
Incorporated in March 1987, Indian Renewable Energy Development Agency (IREDA) is a Mini Ratna (Category - I) government enterprise in the business of promoting, developing, and extending financial assistance for new and renewable energy (RE) projects, and energy efficiency and conservation (EEC) projects. [1]
- Market Cap ₹ 48,313 Cr.
- Current Price ₹ 180
- High / Low ₹ 215 / 50.0
- Stock P/E 38.6
- Book Value ₹ 31.8
- Dividend Yield 0.00 %
- ROCE 9.35 %
- 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 5.60 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 1,268 days to 4,205 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
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|---|
| Revenue | 2,020 | 2,368 | 2,655 | 2,860 | 3,483 | 4,964 |
| Interest | 1,183 | 1,459 | 1,570 | 1,587 | 2,088 | 3,164 |
| 431 | 649 | 495 | 430 | 232 | 86 | |
| Financing Profit | 406 | 259 | 590 | 843 | 1,163 | 1,714 |
| Financing Margin % | 20% | 11% | 22% | 29% | 33% | 35% |
| -72 | 5 | 3 | 14 | -0 | 1 | |
| Depreciation | 23 | 23 | 23 | 23 | 24 | 30 |
| Profit before tax | 311 | 241 | 570 | 834 | 1,139 | 1,685 |
| Tax % | 20% | 11% | 39% | 24% | 24% | 26% |
| 250 | 215 | 346 | 634 | 865 | 1,252 | |
| EPS in Rs | 3.19 | 2.73 | 4.42 | 2.77 | 3.78 | 4.66 |
| 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 | 49,037 | |
| 3,181 | 3,277 | 3,298 | 3,827 | 4,347 | 5,004 | |
| 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% |
Documents
Announcements
- Govt. Accords ''Navratna'' Status To IREDA 26 Apr
-
Announcement under Regulation 30 (LODR)-Newspaper Publication
22 Apr - News Paper Clipping for Financials as on 31.03.2024
- Investor Presentation For The Quarter And Year Ended 31.03.2024 19 Apr
-
Announcement under Regulation 30 (LODR)-Press Release / Media Release
19 Apr - Results for the Fiscal Year 2023-24
- Financial Results For The Quarter And Year Ended 31032024 19 Apr
Business Profile[1] Co. 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.