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 ₹ 36,225 Cr.
- Current Price ₹ 129
- High / Low ₹ 209 / 126
- Stock P/E 19.2
- Book Value ₹ 46.0
- Dividend Yield 0.00 %
- ROCE 9.37 %
- ROE 18.0 %
- Face Value ₹ 10.0
Pros
Cons
- Stock is trading at 2.80 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.
Peer comparison
Financial Services Financial Services Finance Financial Institution
Part of BSE 500 BSE 200 BSE Dollex 200 BSE PSU Nifty 500
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|
| 1,331 | 1,810 | 2,020 | 2,369 | 2,614 | 4,965 | 6,755 | 8,039 | |
| Interest | 810 | 1,006 | 1,183 | 1,459 | 1,570 | 3,164 | 4,141 | 4,768 |
| 194 | 240 | 431 | 649 | 496 | 85 | 472 | 914 | |
| Financing Profit | 327 | 564 | 406 | 260 | 548 | 1,716 | 2,142 | 2,357 |
| Financing Margin % | 25% | 31% | 20% | 11% | 21% | 35% | 32% | 29% |
| -7 | 7 | -72 | 3 | 44 | -1 | 0 | 33 | |
| Depreciation | 7 | 21 | 23 | 23 | 23 | 30 | 39 | 42 |
| Profit before tax | 313 | 549 | 311 | 241 | 570 | 1,685 | 2,104 | 2,348 |
| Tax % | 33% | 26% | 20% | 11% | 39% | 26% | 19% | |
| 210 | 405 | 250 | 215 | 346 | 1,252 | 1,698 | 1,883 | |
| EPS in Rs | 267.74 | 5.17 | 3.18 | 2.74 | 4.41 | 4.66 | 6.32 | 6.79 |
| Dividend Payout % | 60% | 31% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 23% |
| 3 Years: | % |
| TTM: | 29% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 51% |
| 3 Years: | % |
| TTM: | 23% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -36% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| Last Year: | 18% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 785 | 785 | 785 | 785 | 785 | 2,688 | 2,688 | 2,809 |
| Reserves | 1,643 | 1,661 | 1,800 | 1,737 | 2,211 | 5,872 | 7,579 | 10,113 |
| Borrowing | 12,777 | 14,985 | 18,753 | 21,854 | 24,000 | 49,687 | 64,740 | 69,939 |
| 3,592 | 2,937 | 3,181 | 3,277 | 3,298 | 4,354 | 4,728 | 4,934 | |
| Total Liabilities | 18,797 | 20,368 | 24,518 | 27,652 | 30,293 | 62,600 | 79,735 | 87,796 |
| 318 | 314 | 303 | 282 | 266 | 361 | 349 | 336 | |
| CWIP | 0 | 3 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 1 | 0 | 1 | 1 | 101 | 600 | 754 |
| 18,479 | 20,050 | 24,215 | 27,370 | 30,027 | 62,138 | 78,786 | 86,706 | |
| Total Assets | 18,797 | 20,368 | 24,518 | 27,652 | 30,293 | 62,600 | 79,735 | 87,796 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| -1,282 | -1,846 | -5,018 | -1,709 | -3,206 | -11,100 | -14,460 | |
| -282 | -53 | -37 | -0 | -2 | -23 | -518 | |
| 2,644 | 1,701 | 3,736 | 2,141 | 2,441 | 11,059 | 14,960 | |
| Net Cash Flow | 1,081 | -198 | -1,319 | 431 | -767 | -64 | -17 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| ROE % | 17% | 12% | 8% | 13% | 18% |
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Press Release / Media Release
16 Jan - IGGEFIL sanctioned USD 22.5 million to Swarna Solar for 100 MW Zambia solar project on Jan 16, 2026.
-
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
14 Jan - Regulation 74(5) certificate for quarter ended 31 Dec 2025; demat requests: 4 received, 1 rejected.
-
Audited Standalone Fianncials For The Period Ended 31122025
9 Jan - Audited standalone results for nine months to 31-Dec-2025: PBT ₹1,717.65cr, loans ₹85,989.07cr; NPA classification issue ₹400.24cr.
-
Audited Consoldiated Financial Statements For The Period Ended 3112025
9 Jan - Audited consolidated results to Dec 31, 2025: assets Rs92,200 crore; profit Rs1,381.36 crore; loans Rs85,989 crore; CRAR 15.52%.
-
Announcement under Regulation 30 (LODR)-Investor Presentation
9 Jan - Renewable Energy Development Agency Limited has informed regarding ''Investor Presentation for period ended 31122025''.
Concalls
-
Jan 2026TranscriptAI SummaryPPT
-
Nov 2025TranscriptAI SummaryPPT
-
Oct 2025TranscriptAI SummaryPPT
-
Jul 2025TranscriptAI SummaryPPT
-
Jul 2025TranscriptAI SummaryPPT
-
Apr 2025TranscriptAI SummaryPPT
-
Jan 2025TranscriptAI SummaryPPT
-
Oct 2024TranscriptAI SummaryPPT
-
Jul 2024TranscriptAI SummaryPPT
-
Apr 2024TranscriptAI SummaryPPT
-
Jan 2024TranscriptAI SummaryPPT
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]