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 ₹ 43,450 Cr.
- Current Price ₹ 162
- High / Low ₹ 310 / 137
- Stock P/E 28.3
- Book Value ₹ 34.7
- Dividend Yield 0.00 %
- ROCE 9.30 %
- ROE 17.3 %
- Face Value ₹ 10.0
Pros
- Company is expected to give good quarter
- Company has delivered good profit growth of 33.9% CAGR over last 5 years
Cons
- Stock is trading at 4.65 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
Part of BSE 500 Nifty Midcap 100 Nifty 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 | TTM | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,118 | 2,020 | 2,368 | 2,655 | 2,860 | 3,483 | 4,965 | 6,230 |
| Interest | 646 | 1,183 | 1,459 | 1,570 | 1,587 | 2,088 | 3,164 | 3,885 |
| 88 | 431 | 649 | 495 | 430 | 232 | 85 | 356 | |
| Financing Profit | 384 | 406 | 259 | 590 | 843 | 1,163 | 1,716 | 1,989 |
| Financing Margin % | 34% | 20% | 11% | 22% | 29% | 33% | 35% | 32% |
| 0 | -72 | 5 | 3 | 14 | -0 | -1 | 2 | |
| Depreciation | 5 | 23 | 23 | 23 | 23 | 24 | 30 | 37 |
| Profit before tax | 379 | 311 | 241 | 570 | 834 | 1,139 | 1,685 | 1,954 |
| Tax % | 28% | 20% | 11% | 39% | 24% | 24% | 26% | |
| 272 | 250 | 215 | 346 | 634 | 865 | 1,252 | 1,534 | |
| EPS in Rs | 346.56 | 3.19 | 2.73 | 4.42 | 2.77 | 3.78 | 4.66 | 5.71 |
| Dividend Payout % | 20% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 20% |
| 3 Years: | 23% |
| TTM: | 35% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 34% |
| 3 Years: | 53% |
| TTM: | 31% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | 19% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 15% |
| 3 Years: | 16% |
| Last Year: | 17% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Sep 2024 | |
|---|---|---|---|---|---|---|---|---|
| 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 | 6,648 |
| Deposits | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowing | 2,781 | 8,887 | 11,310 | 10,894 | 14,143 | 24,295 | 29,700 | |
| 663 | 3,181 | 3,277 | 3,298 | 3,827 | 4,347 | 4,354 | 4,774 | |
| Total Liabilities | 10,280 | 24,518 | 27,652 | 30,293 | 36,708 | 50,447 | 62,600 | 68,748 |
| 33 | 303 | 282 | 266 | 248 | 229 | 361 | 355 | |
| CWIP | 7 | 0 | 0 | 0 | 131 | 144 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 99 | 99 | 99 | 652 |
| 10,241 | 24,215 | 27,370 | 30,027 | 36,230 | 49,975 | 62,140 | 67,741 | |
| Total Assets | 10,280 | 24,518 | 27,652 | 30,293 | 36,708 | 50,447 | 62,600 | 68,748 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | 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 2015 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|---|---|
| ROE % | 8% | 13% | 15% | 15% | 17% |
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Press Release / Media Release
4h - IREDA secures JPY 26 billion ECB facility from SBI Tokyo.
- Closure of Trading Window 1d
-
Announcement under Regulation 30 (LODR)-Press Release / Media Release
2d - IREDA raises ₹910.37 crore through Tier-II Bonds.
-
Board Meeting Outcome for Outcome Of Board Meeting Held On March 25, 2025
2d - Board approved borrowing program of ₹30,800 crore.
-
Board Meeting Intimation for Intimation Of Board Meeting To Be Held On March 25, 2025
20 Mar - Board meeting on March 25 to discuss borrowing plan.
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]