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 GoI conferred the status of Mini Ratna under Category-I upon IREDA in June 2015.
RBI classified company as “Infrastructure Finance Company”.[1]
- Market Cap ₹ 60,343 Cr.
- Current Price ₹ 225
- High / Low ₹ 310 / 50.0
- Stock P/E 45.0
- Book Value ₹ 31.8
- Dividend Yield 0.00 %
- ROCE 9.30 %
- ROE 17.3 %
- Face Value ₹ 10.0
Pros
- Company has delivered good profit growth of 33.9% CAGR over last 5 years
Cons
- Stock is trading at 7.05 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
Sector: Finance Industry: Finance - Term-Lending Institutions
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
---|---|---|---|---|---|---|---|
Revenue | 2,020 | 2,368 | 2,655 | 2,860 | 3,483 | 4,965 | 5,331 |
Interest | 1,183 | 1,459 | 1,570 | 1,587 | 2,088 | 3,164 | 3,375 |
431 | 649 | 495 | 430 | 232 | 85 | 203 | |
Financing Profit | 406 | 259 | 590 | 843 | 1,163 | 1,716 | 1,753 |
Financing Margin % | 20% | 11% | 22% | 29% | 33% | 35% | 33% |
-72 | 5 | 3 | 14 | -0 | -1 | 1 | |
Depreciation | 23 | 23 | 23 | 23 | 24 | 30 | 33 |
Profit before tax | 311 | 241 | 570 | 834 | 1,139 | 1,685 | 1,721 |
Tax % | 20% | 11% | 39% | 24% | 24% | 26% | |
250 | 215 | 346 | 634 | 865 | 1,252 | 1,341 | |
EPS in Rs | 3.19 | 2.73 | 4.42 | 2.77 | 3.78 | 4.66 | 5.19 |
Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% |
Compounded Sales Growth | |
---|---|
10 Years: | % |
5 Years: | 20% |
3 Years: | 23% |
TTM: | 43% |
Compounded Profit Growth | |
---|---|
10 Years: | % |
5 Years: | 34% |
3 Years: | 53% |
TTM: | 45% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | % |
1 Year: | % |
Return on Equity | |
---|---|
10 Years: | % |
5 Years: | 15% |
3 Years: | 16% |
Last Year: | 17% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|
Equity Capital | 785 | 785 | 785 | 2,285 | 2,285 | 2,688 |
Reserves | 1,799 | 1,737 | 2,211 | 2,984 | 3,651 | 5,872 |
18,753 | 21,854 | 24,000 | 27,613 | 40,165 | 49,687 | |
3,181 | 3,277 | 3,298 | 3,827 | 4,347 | 4,354 | |
Total Liabilities | 24,518 | 27,652 | 30,293 | 36,708 | 50,447 | 62,600 |
303 | 282 | 266 | 248 | 229 | 361 | |
CWIP | 0 | 0 | 0 | 131 | 144 | 0 |
Investments | 0 | 0 | 0 | 99 | 99 | 99 |
24,215 | 27,370 | 30,027 | 36,230 | 49,975 | 62,140 | |
Total Assets | 24,518 | 27,652 | 30,293 | 36,708 | 50,447 | 62,600 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|
-5,018 | -1,709 | -3,206 | -5,254 | -12,343 | -11,100 | |
-37 | -0 | -2 | -107 | -17 | -23 | |
3,736 | 2,141 | 2,441 | 5,271 | 12,368 | 11,059 | |
Net Cash Flow | -1,319 | 431 | -767 | -90 | 7 | -64 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|
ROE % | 8% | 13% | 15% | 15% | 17% |
Documents
Announcements
-
Closure of Trading Window
12h - Closure of trading window until financial results approval.
-
Approval Of The Alternative Mechanism For Raising Of Funds Through Qualified Institutions Placement Route
18 Sep - Approval for raising funds through QIP up to ₹4500 Crore.
-
Extension Of Additional Charge For The Post Of Director (Projects) To Director (Finance) IREDA
12 Sep - Extension of additional charge for Director (Projects).
-
Clarification /Confirmation On News Item Appearing In 'Media/Publication
10 Sep - IREDA signs MoU for 900MW hydro project in Nepal.
-
Announcement under Regulation 30 (LODR)-Press Release / Media Release
10 Sep - IREDA Global Green Energy Finance IFSC Limited receives provisional registration.
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.