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 ₹ 32,306 Cr.
- Current Price ₹ 115
- High / Low ₹ 163 / 109
- Stock P/E 16.4
- Book Value ₹ 49.1
- Dividend Yield 0.52 %
- ROCE 8.69 %
- ROE 15.6 %
- Face Value ₹ 10.0
Pros
- Company has delivered good profit growth of 40.2% CAGR over last 5 years
Cons
- 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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Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
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 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,118 | 1,174 | 2,020 | 2,369 | 2,655 | 2,860 | 3,483 | 4,965 | 6,754 | 8,309 | 8,610 | |
| Interest | 646 | 668 | 1,183 | 1,459 | 1,570 | 1,587 | 2,088 | 3,164 | 4,141 | 4,905 | 5,027 |
| 88 | 84 | 431 | 649 | 495 | 430 | 232 | 85 | 471 | 1,052 | 1,111 | |
| Financing Profit | 384 | 421 | 406 | 260 | 590 | 843 | 1,163 | 1,716 | 2,142 | 2,352 | 2,471 |
| Financing Margin % | 34% | 36% | 20% | 11% | 22% | 29% | 33% | 35% | 32% | 28% | 29% |
| 0 | 1 | -72 | 3 | 3 | 14 | -0 | -1 | 0 | 28 | 17 | |
| Depreciation | 5 | 4 | 23 | 23 | 23 | 23 | 24 | 30 | 39 | 44 | 44 |
| Profit before tax | 379 | 418 | 311 | 241 | 570 | 834 | 1,139 | 1,685 | 2,104 | 2,337 | 2,445 |
| Tax % | 28% | 29% | 20% | 11% | 39% | 24% | 24% | 26% | 19% | 20% | |
| 272 | 298 | 250 | 215 | 346 | 634 | 865 | 1,252 | 1,699 | 1,873 | 1,964 | |
| EPS in Rs | 346.56 | 379.86 | 3.19 | 2.73 | 4.42 | 2.77 | 3.78 | 4.66 | 6.32 | 6.67 | 6.98 |
| 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: | 20% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 20% |
| 5 Years: | 40% |
| 3 Years: | 29% |
| TTM: | 26% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -22% |
| 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 2016 | 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 2015 | Mar 2016 | 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 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross NPA Ratio % |
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| Outstanding Loan Book (AUM) Rs Crore |
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| Loan Sanctions Rs Crore |
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| Solar Sector Share of Loan Book % |
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| Public Sector Share of Loan Book % |
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Extracted by Screener AI
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Change in Management
- IREDA announces four senior management cessations and sets September 11, 2026 record date for Rs0.75 final dividend.
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Record Date For The Payment Of The Final Dividend For The Financial Year 2025- 26 Is Friday, September 11, 2026
- IREDA changed four senior managers and fixed September 11, 2026 record date for 7.50% final dividend.
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Announcement under Regulation 30 (LODR)-Change in Directorate
- Shri Manoneet Dalal appointed independent director on IREDA board for three years from 18 August 2026.
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Comments Of C&AG On Audited Financial Statements(Standalone & Consolidated) For FY 2025-26
- IREDA posted FY26 profit of ₹1,873.34 crore, recommended ₹0.15 final dividend, and reported two fraud cases.
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Announcement under Regulation 30 (LODR)-Investor Presentation
- Indian Renewable Energy Development Agency Limited has informed regarding Investor Presentation for the Quarter Ended 30/06/2026
Concalls
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Aug 2026TranscriptAI SummaryPPT
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May 2026TranscriptAI SummaryPPT
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Jan 2026TranscriptAI SummaryPPT
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Nov 2025TranscriptAI SummaryPPT
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Oct 2025TranscriptAI SummaryPPT
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Jul 2025TranscriptAI SummaryPPT
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Jul 2025TranscriptAI SummaryPPT
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Apr 2025TranscriptAI SummaryPPT
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Jan 2025TranscriptAI SummaryPPT
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Oct 2024TranscriptAI SummaryPPT
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Jul 2024TranscriptAI SummaryPPT
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Apr 2024TranscriptAI SummaryPPT
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Jan 2024TranscriptAI SummaryPPT
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.