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 ₹ 47,665 Cr.
- Current Price ₹ 177
- High / Low ₹ 310 / 121
- Stock P/E 31.1
- 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 5.11 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 250 LargeMidCap Index Nifty Alpha 50 Nifty LargeMidcap 250 BSE 400 MidSmallCap Index 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: | 11% |
| 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
-
IREDA Global Green Energy Finance IFSC Limited Received Certificate Of Registration For Commencing Business As A Finance Company At Gift City, Gujarat.
18 Feb - IREDA Global Green Energy Finance received registration to operate as a finance company.
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
3 Feb - Of schedule of Analyst/ Institutional Investors meetings under Regulation 30 of the SEBI (LODR) Regulations, 2015, as amended
-
Board Meeting Outcome for Outcome Of Board Meeting Held On February 1, 2025
1 Feb - Board approved interim financial statements and audit report.
- Intimation Of Notice Of 22Nd Extraordinary General Meeting (''EGM'') Of The Company Under Regulation 30 Of The SEBI (LODR) Regulations, 2015 28 Jan
-
Board Meeting Outcome for Outcome Of The Meeting Of Board (The 'Board') Of The Company Held On January 23, 2025
23 Jan - Approval for ₹ 5,000 Crore equity share issue.
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]