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 ₹ 44,590 Cr.
- Current Price ₹ 166
- High / Low ₹ 310 / 137
- Stock P/E 26.3
- Book Value ₹ 38.2
- Dividend Yield 0.00 %
- ROCE 9.57 %
- ROE 18.0 %
- Face Value ₹ 10.0
Pros
- Company is expected to give good quarter
- Company has delivered good profit growth of 51.3% CAGR over last 5 years
Cons
- Stock is trading at 4.10 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 1,185 days to 3,897 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
Part of BSE 500 Nifty 500 BSE 200 Nifty Alpha 50 BSE CPSE
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|
| 1,118 | 2,020 | 2,368 | 2,655 | 2,860 | 3,483 | 4,965 | 6,742 | |
| Interest | 646 | 1,183 | 1,459 | 1,570 | 1,587 | 2,088 | 3,164 | 4,141 |
| 88 | 431 | 649 | 495 | 430 | 232 | 85 | 471 | |
| Financing Profit | 384 | 406 | 259 | 590 | 843 | 1,163 | 1,716 | 2,130 |
| Financing Margin % | 34% | 20% | 11% | 22% | 29% | 33% | 35% | 32% |
| 0 | -72 | 5 | 3 | 14 | -0 | -1 | 12 | |
| Depreciation | 5 | 23 | 23 | 23 | 23 | 24 | 30 | 39 |
| Profit before tax | 379 | 311 | 241 | 570 | 834 | 1,139 | 1,685 | 2,104 |
| Tax % | 28% | 20% | 11% | 39% | 24% | 24% | 26% | 19% |
| 272 | 250 | 215 | 346 | 634 | 865 | 1,252 | 1,699 | |
| EPS in Rs | 346.56 | 3.19 | 2.73 | 4.42 | 2.77 | 3.78 | 4.66 | 6.32 |
| Dividend Payout % | 20% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 20% |
| 5 Years: | 23% |
| 3 Years: | 33% |
| TTM: | 36% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 20% |
| 5 Years: | 51% |
| 3 Years: | 39% |
| TTM: | 36% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -5% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 16% |
| 3 Years: | 17% |
| Last Year: | 18% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 785 | 785 | 785 | 785 | 2,285 | 2,285 | 2,688 | 2,688 |
| Reserves | 1,394 | 1,799 | 1,737 | 2,211 | 2,984 | 3,651 | 5,872 | 7,578 |
| Borrowing | 7,439 | 18,753 | 21,854 | 24,000 | 27,613 | 40,165 | 49,687 | 61,936 |
| 663 | 3,181 | 3,277 | 3,298 | 3,827 | 4,347 | 4,354 | 7,532 | |
| Total Liabilities | 10,280 | 24,518 | 27,652 | 30,293 | 36,708 | 50,447 | 62,600 | 79,734 |
| 33 | 303 | 282 | 266 | 248 | 229 | 361 | 349 | |
| CWIP | 7 | 0 | 0 | 0 | 131 | 144 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 99 | 99 | 99 | 626 |
| 10,241 | 24,215 | 27,370 | 30,027 | 36,230 | 49,975 | 62,140 | 78,760 | |
| Total Assets | 10,280 | 24,518 | 27,652 | 30,293 | 36,708 | 50,447 | 62,600 | 79,734 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|
| -5,018 | -1,709 | -3,206 | -5,254 | -12,343 | -11,100 | -14,461 | ||
| -37 | -0 | -2 | -107 | -17 | -23 | -543 | ||
| 3,736 | 2,141 | 2,441 | 5,271 | 12,368 | 11,059 | 14,960 | ||
| Net Cash Flow | -1,319 | 431 | -767 | -90 | 7 | -64 | -44 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|
| ROE % | 8% | 13% | 15% | 15% | 17% | 18% |
Documents
Announcements
-
Compliances-Reg.24(A)-Annual Secretarial Compliance
6 May - Annual Secretarial Compliance Report for FY 2024-25 filed by IREDA as per SEBI regulations.
-
Extension Of Tenure Of Appointment Of Shri Pradip Kumar Das, CMD, IREDA
1 May - Extension of Shri Pradip Kumar Das's CMD tenure at IREDA beyond 05.05.2025 until further order.
-
Announcement under Regulation 30 (LODR)-Change in Management
30 Apr - IREDA appoints Smt. Punnu Grover as new CCO from May 1, 2025, replacing retiring Shri Piyush Kumar.
-
Announcement under Regulation 30 (LODR)-Change in Management
29 Apr - IREDA appoints four senior managers including Executive Directors and General Manager on April 28, 2025.
-
IREDA'S Action Update On M/S Gensol Engineering Ltd
25 Apr - IREDA reviews Gensol's stressed account, files complaint over falsified documents and promoter share dilution.
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]