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 ₹ 41,568 Cr.
- Current Price ₹ 148
- High / Low ₹ 266 / 137
- Stock P/E 24.5
- Book Value ₹ 38.2
- Dividend Yield 0.00 %
- ROCE 9.37 %
- ROE 18.0 %
- Face Value ₹ 10.0
Pros
Cons
- Stock is trading at 3.88 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has low interest coverage ratio.
- Promoter holding has decreased over last quarter: -3.24%
- 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 PSU Nifty 500 BSE MidCap
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 | |
|---|---|---|---|---|---|---|---|
| 1,331 | 1,810 | 2,020 | 2,369 | 2,614 | 4,965 | 6,755 | |
| Interest | 810 | 1,006 | 1,183 | 1,459 | 1,570 | 3,164 | 4,141 |
| 194 | 240 | 431 | 649 | 496 | 85 | 472 | |
| Financing Profit | 327 | 564 | 406 | 260 | 548 | 1,716 | 2,142 |
| Financing Margin % | 25% | 31% | 20% | 11% | 21% | 35% | 32% |
| -7 | 7 | -72 | 3 | 44 | -1 | 0 | |
| Depreciation | 7 | 21 | 23 | 23 | 23 | 30 | 39 |
| Profit before tax | 313 | 549 | 311 | 241 | 570 | 1,685 | 2,104 |
| Tax % | 33% | 26% | 20% | 11% | 39% | 26% | 19% |
| 210 | 405 | 250 | 215 | 346 | 1,252 | 1,698 | |
| EPS in Rs | 267.74 | 5.17 | 3.18 | 2.74 | 4.41 | 4.66 | 6.32 |
| Dividend Payout % | 60% | 31% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 23% |
| 3 Years: | % |
| TTM: | 36% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 51% |
| 3 Years: | % |
| TTM: | 36% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -42% |
| 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 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 785 | 785 | 785 | 785 | 785 | 2,688 | 2,688 |
| Reserves | 1,643 | 1,661 | 1,800 | 1,737 | 2,211 | 5,872 | 7,579 |
| Borrowing | 12,777 | 14,985 | 18,753 | 21,854 | 24,000 | 49,687 | 64,740 |
| 3,592 | 2,937 | 3,181 | 3,277 | 3,298 | 4,354 | 4,728 | |
| Total Liabilities | 18,797 | 20,368 | 24,518 | 27,652 | 30,293 | 62,600 | 79,735 |
| 318 | 314 | 303 | 282 | 266 | 361 | 349 | |
| CWIP | 0 | 3 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 1 | 0 | 1 | 1 | 101 | 600 |
| 18,479 | 20,050 | 24,215 | 27,370 | 30,027 | 62,138 | 78,786 | |
| Total Assets | 18,797 | 20,368 | 24,518 | 27,652 | 30,293 | 62,600 | 79,735 |
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)-Change in Management
1 Aug - Shri Kuber Malhotra appointed CTO and GM (IT) of IREDA effective 01.08.2025.
-
Comments Of C&AG On Audited Financial Statements(Standalone & Consolidated ) For FY 2024-25
30 Jul - IREDA's audited FY25 financials show profit growth, fund raising of ~Rs 4,300 Cr, and prudent asset classification.
-
Presentation Of Analyst Meet Scheduled To Be Held On July 21, 2025 At Mumbai.
19 Jul - IREDA analyst meet presentation with Q1 FY26 financials and operational highlights.
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
16 Jul - Analyst meeting scheduled on July 21, 2025, at Four Seasons Hotel, Mumbai, physical group meeting.
-
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
14 Jul - Certificate under Regulation 74(5) of SEBI (DP) Regulations, 2018 for the quarter ended 30.06.2025
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]