Indian Renewable Energy Development Agency Ltd

₹ 128 -0.07%

03 Jul - close price

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 Ministry of New and Renewable Energy, Government of India has given IREDA the 'Navaratna Status. RBI classified company as “Infrastructure Finance Company”.^[1]^[2]

Key Points

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.

Website BSE NSE

Market Cap ₹ 36,096 Cr.
Current Price ₹ 128
High / Low ₹ 170 / 109
Stock P/E 19.3
Book Value ₹ 49.1
Dividend Yield 0.47 %
ROCE 8.69 %
ROE 15.6 %
Face Value ₹ 10.0

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Pros

Cons

Stock is trading at 2.62 times its book value
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 PSU Nifty 500 Nifty Midcap 100 Nifty 200 Nifty High Beta 50 BSE CPSE BSE Financial Services BSE 150 MidCap Index BSE 250 LargeMidCap Index BSE 400 MidSmallCap Index Nifty LargeMidcap 250 Nifty Midcap 150 Nifty MidSmallcap 400 Nifty 500 Multicap 50:25:25 Nifty Total Market BSE 200 Equal Weight Nifty500 Equal Weight Nifty500 LargeMidSmall Equal-Cap Weighted BSE Select IPO BSE 1000

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	1,391	1,510	1,630	1,698	1,905	1,948	2,057	2,130	2,175
Interest	847	975	1,030	1,032	1,104	1,218	1,213	1,233	1,241
	56	51	131	119	171	427	138	179	309
Financing Profit	488	484	469	548	630	303	706	718	626
Financing Margin %	35%	32%	29%	32%	33%	16%	34%	34%	29%
	0	0	1	1	11	12	1	10	6
Depreciation	9	9	9	10	11	10	10	11	13
Profit before tax	480	476	460	538	630	305	696	717	619
Tax %	30%	19%	16%	21%	20%	19%	21%	18%	20%
	337	384	388	425	502	247	549	585	493
EPS in Rs	1.26	1.43	1.44	1.58	1.87	0.88	1.96	2.08	1.75
Gross NPA %		2.19%				4.13%
Net NPA %		0.95%				2.06%
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2024	Mar 2025	Mar 2026
	1,331	1,810	2,020	2,369	2,614	4,965	6,755	8,310
Interest	810	1,006	1,183	1,459	1,570	3,164	4,141	4,905
	194	240	431	649	496	85	472	1,053
Financing Profit	327	564	406	260	548	1,716	2,142	2,353
Financing Margin %	25%	31%	20%	11%	21%	35%	32%	28%
	-7	7	-72	3	44	-1	0	28
Depreciation	7	21	23	23	23	30	39	44
Profit before tax	313	549	311	241	570	1,685	2,104	2,338
Tax %	33%	26%	20%	11%	39%	26%	19%	20%
	210	405	250	215	346	1,252	1,698	1,874
EPS in Rs	267.74	5.17	3.18	2.74	4.41	4.66	6.32	6.67
Dividend Payout %	60%	31%	0%	0%	0%	0%	0%	20%

Compounded Sales Growth
10 Years:	%
5 Years:	26%
3 Years:	%
TTM:	23%

Compounded Profit Growth
10 Years:	%
5 Years:	40%
3 Years:	%
TTM:	10%

Stock Price CAGR
10 Years:	%
5 Years:	%
3 Years:	%
1 Year:	-23%

Return on Equity
10 Years:	%
5 Years:	%
3 Years:	16%
Last Year:	16%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2024	Mar 2025	Mar 2026
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	10,976
Borrowing	12,777	14,985	18,753	21,854	24,000	49,687	64,740	77,846
	3,592	2,937	3,181	3,277	3,298	4,354	4,728	2,177
Total Liabilities	18,797	20,368	24,518	27,652	30,293	62,600	79,735	93,808
	318	314	303	282	266	361	349	321
CWIP	0	3	0	0	0	0	0	0
Investments	0	1	0	1	1	101	600	884
	18,479	20,050	24,215	27,370	30,027	62,138	78,786	92,603
Total Assets	18,797	20,368	24,518	27,652	30,293	62,600	79,735	93,808

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2024	Mar 2025	Mar 2026
	-1,282	-1,846	-5,018	-1,709	-3,206	-11,100	-14,460	-14,477
	-282	-53	-37	-0	-2	-23	-518	-281
	2,644	1,701	3,736	2,141	2,441	11,059	14,960	14,748
Net Cash Flow	1,081	-198	-1,319	431	-767	-64	-17	-10
Free Cash Flow	-1,577	-1,873	-5,055	-1,710	-3,209	-11,123	-14,487	-14,492
CFO/OP	-98%	-110%	-308%	-89%	-144%	-220%	-221%	-192%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2024	Mar 2025	Mar 2026
ROE %	9%	17%	12%	8%	13%	15%	18%	16%

Insights

In beta

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Mar 2026

Gross NPA Ratio
% ・Standalone data

x.xx	x.xx	x.xx	x.xx	x.xx	xx.xx	x.xx	x.xx	x.xx	x.xx	x.xx	x.xx
xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx
	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx
		x,xxx.xx	x,xxx.xx	x,xxx.xx	x,xxx.xx	x,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx
			xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx
	xx	xx	xx				xx		xx	xx	xx
										xx	xx

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Capital Adequacy Ratio (CRAR)
% ・Standalone data

Outstanding Loan Book (AUM)
Rs Crore ・Standalone data

Loan Disbursements
Rs Crore ・Standalone data

Loan Sanctions
Rs Crore ・Standalone data

Solar Sector Share of Loan Book
% ・Standalone data

Public Sector Share of Loan Book
% ・Standalone data

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	71.76%	71.76%	71.76%	71.76%
	1.88%	1.36%	2.70%	2.02%	1.85%	1.74%	2.04%	1.92%	2.07%	2.14%
	4.37%	0.94%	0.42%	0.35%	0.63%	0.51%	2.95%	2.57%	2.51%	2.44%
	18.75%	22.70%	21.87%	22.62%	22.51%	22.74%	23.24%	23.75%	23.67%	23.65%
No. of Shareholders	13,67,953	21,47,272	22,43,293	26,16,555	26,19,358	26,79,938	26,69,472	26,56,617	25,75,369	25,19,677

	Mar 2024	Mar 2025	Mar 2026
	75.00%	75.00%	71.76%
	1.36%	1.74%	2.14%
	0.94%	0.51%	2.44%
	22.70%	22.74%	23.65%
No. of Shareholders	21,47,272	26,79,938	25,19,677

* 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.

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