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 ₹ 46,609 Cr.
- Current Price ₹ 173
- High / Low ₹ 310 / 137
- Stock P/E 27.4
- 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 4.54 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 200 Nifty Alpha 50 BSE CPSE BSE 200
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 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 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: | 6% |
| 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
-
Board Meeting Outcome for Outcome Of Board Meeting Held On April 15 2025
2d - Audited financial results and appointment of cost auditor for FY25.
-
Announcement under Regulation 30 (LODR)-Change in Management
2d - Audited results approved; cost auditor appointed for FY 2025-26.
-
Disclosure under Regulation 30A of LODR
2d - Audited consolidated financial results and auditor's report for FY 2025.
-
Outcome Of Board Meeting Held On April 15 2025
2d - Board approved FY25 results and appointed cost auditor.
-
Disclosure under Regulation 30A of LODR
2d - Independent auditor's report on FY25 standalone financials with key audit matters.
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]