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 ₹ 49,598 Cr.
- Current Price ₹ 185
- High / Low ₹ 310 / 50.0
- Stock P/E 34.3
- 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 5.31 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 Nifty LargeMidcap 250 Nifty Midcap 150 BSE IPO Nifty 200 BSE Allcap
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 | 5,784 |
| Interest | 646 | 1,183 | 1,459 | 1,570 | 1,587 | 2,088 | 3,164 | 3,612 |
| 88 | 431 | 649 | 495 | 430 | 232 | 85 | 337 | |
| Financing Profit | 384 | 406 | 259 | 590 | 843 | 1,163 | 1,716 | 1,835 |
| 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 | 35 |
| Profit before tax | 379 | 311 | 241 | 570 | 834 | 1,139 | 1,685 | 1,801 |
| Tax % | 28% | 20% | 11% | 39% | 24% | 24% | 26% | |
| 272 | 250 | 215 | 346 | 634 | 865 | 1,252 | 1,444 | |
| EPS in Rs | 346.56 | 3.19 | 2.73 | 4.42 | 2.77 | 3.78 | 4.66 | 5.38 |
| Dividend Payout % | 20% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 20% |
| 3 Years: | 23% |
| TTM: | 37% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 34% |
| 3 Years: | 53% |
| TTM: | 40% |
| 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 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 |
| 7,439 | 18,753 | 21,854 | 24,000 | 27,613 | 40,165 | 49,687 | 54,639 | |
| 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
-
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
11 Oct - Certificate under Regulation 74(5) for Q3 2024.
-
Announcement under Regulation 30 (LODR)-Newspaper Publication
11 Oct - Newspaper Clippings for the financial results for the quarter and half year ended September 2024
-
Approval For Setting Up Of A Wholly Owned Subsidiary Company By IREDA In Retail Business
10 Oct - IREDA approved setting up a wholly owned retail subsidiary.
-
Announcement under Regulation 30 (LODR)-Investor Presentation
10 Oct - Investor presentation for Q2 & H1 FY24-25.
-
Board Meeting Outcome for Outcome Of The Board Meeting Held On October 10, 2024
10 Oct - Board approved unaudited financial results for Q2 2024.
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.