Indian Renewable Energy Development Agency Ltd
IREDAIndian Renewable Energy Development Agency Ltd
IREDA
Price Chart
Scorecard
Performance
AvgPrice return has been average, nothing exciting
Valuation
HighSeems to be overvalued vs the market average
Growth
LowLagging behind the market in financials growth
Profitability
AvgAverage profitability - not good, not bad
Entry point
AvgThe stock is overpriced but is not in the overbought zone
Red flags
AvgThe stock has a moderate number of red flags
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Key Metrics
| No LabelNo Label | PB RatioPB Ratio | Dividend YieldDiv. Yield |
|---|---|---|
| 36.19 | 6.11 | — |
| Sector PESector PE | Sector PBSector PB | Sector Div YldSctr Div Yld |
|---|---|---|
| 17.57 | 2.43 | 0.99% |
Forecast & Ratings
Detailed Forecast from 2 analysts
Price
Price Upside
Earnings
Earnings Growth
Revenue
Rev. Growth
Company Profile
Indian Renewable Energy Development Agency Limited is an India-based systemically important non-deposit taking non-banking financial (NBFC-ND-SI) company. The Company is engaged in promoting, developing and extending financial assistance for new and renewable energy (RE) projects, and energy efficiency and conservation projects. The Company provides a comprehensive range of financial products and related services, from project conceptualization to post-commissioning, for renewable energy projects and other value chain activities, such as equipment manufacturing and transmission. It has financed projects across multiple RE sectors, such as solar power, wind power, hydro power, transmission, and biomass, among others. It also offers a comprehensive suite of financial products and services including various fund-based and non-fund-based products. In addition, it provides loans to government entities and also provide financing schemes for RE suppliers, manufacturers, and contractors.
Peers
Compare with peersIndian Railway Finance Corp Ltd
Power Finance Corporation Ltd
REC Limited
Rail Vikas Nigam Ltd
Housing and Urban Development Corporation Ltd
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Forecasts
Price
Revenue
Earnings
Price Forecast
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Revenue Forecast
All values in ₹ Thousand cr.
All values in ₹ Thousand cr.
Earnings Per Share Forecast
All values in ₹
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Income
Balance Sheet
Cash Flow
Income Statement
| Financial Year | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | TTM | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Revenue | 1,174.54 | 1,481.67 | 1,813.18 | 2,022.78 | 2,372.38 | 2,657.74 | 2,874.16 | 3,483.04 | 4,965.29 | 5,785.93 | ||||||||||
Raw Materials | — | — | — | — | — | — | — | — | — | 3,949.10 | ||||||||||
| Power & Fuel Cost | — | — | — | — | — | — | — | — | — | |||||||||||
| Employee Cost | 22.59 | 28.07 | 43.80 | 44.33 | 46.98 | 47.36 | 58.82 | 63.09 | 71.32 | |||||||||||
| Selling & Administrative Expenses | — | — | — | — | — | — | — | — | — | |||||||||||
| Operating & Other expenses | 730.05 | 918.10 | 1,209.08 | 1,644.14 | 2,061.48 | 2,018.18 | 1,958.26 | 2,257.20 | 3,178.38 | |||||||||||
EBITDA | 421.90 | 535.50 | 560.30 | 334.31 | 263.92 | 592.20 | 857.08 | 1,162.75 | 1,715.59 | 1,836.83 | ||||||||||
| Depreciation/Amortization | 4.27 | 7.32 | 21.33 | 23.36 | 22.81 | 22.67 | 23.24 | 23.50 | 30.35 | 35.38 | ||||||||||
| PBIT | 417.63 | 528.18 | 538.97 | 310.95 | 241.11 | 569.53 | 833.84 | 1,139.25 | 1,685.24 | 1,801.45 | ||||||||||
| Interest & Other Items | — | — | — | — | — | — | — | — | — | — | ||||||||||
| PBT | 417.63 | 528.18 | 538.97 | 310.95 | 241.11 | 569.53 | 833.84 | 1,139.25 | 1,685.24 | 1,801.45 | ||||||||||
| Taxes & Other Items | 119.59 | 163.16 | 168.53 | 61.04 | 26.56 | 223.11 | 200.32 | 274.62 | 433.01 | 357.09 | ||||||||||
| Net Income | 298.04 | 365.02 | 370.44 | 249.91 | 214.55 | 346.42 | 633.52 | 864.63 | 1,252.23 | 1,444.36 | ||||||||||
| EPS | 3.80 | 4.65 | 4.72 | 3.19 | 2.73 | 4.42 | 4.13 | 3.78 | 5.04 | 5.37 | ||||||||||
| DPS | 3.80 | 1.60 | 1.62 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||||
| Payout ratio | 1.00 | 0.34 | 0.34 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Company Updates
Peers & Comparison
FinancialsSpecialized Finance
Valuation
Technical
Forecast
Compare valuation on Screener| Stock | PE RatioPE Ratio | PB RatioPB Ratio | Div. YieldDividend Yield |
|---|---|---|---|
| Indian Renewable Energy Development Agency Ltd | 41.74 | 6.11 | — |
| Indian Railway Finance Corp Ltd | 29.62 | 3.86 | 1.03% |
| Power Finance Corporation Ltd | 7.80 | 1.15 | 2.89% |
| REC Limited | 9.58 | 1.95 | 3.11% |
Price Comparison
Compare IREDA with any stock or ETFShareholdings
Promoter Holdings Trend
Total Promoter Holding
In last 6 months, promoter holding in the company has almost stayed constant
Low Pledged Promoter Holding
Pledged promoter holdings is insignificant
Institutional Holdings Trend
Increased Total Retail Holding
In last 3 months, retail holding in the company has increased by 1.29%
Foreign Institutional Holding
In last 3 months, foreign institutional holding of the company has almost stayed constant
Shareholding Pattern
Dec 2023
Mar 2024
Jun 2024
Sep 2024
Shareholding History
Mutual Funds Holding Trend
Mutual Fund Holding
In last 3 months, mutual fund holding of the company has almost stayed constant
Top 5 Mutual Funds holding Indian Renewable Energy Development Agency Ltd
| Funds (Top 5) | The rupee value of the stock held by the fund divided by the stock’s market cap Market-cap held | Percentage of the fund’s portfolio invested in the stock Weight | Change in the portfolio weight of the stock over the last 3 months 3M holding change | The rank of the stock in the fund’s portfolio based on its weight in the portfolio along with the change in the rank over the last 3 months Portfolio rank(3M change) |
|---|---|---|---|---|
HDFC Multi Cap Fund - Growth - Direct Plan Growth | The rupee value of the stock held by the fund divided by the stock’s market cap 0.1080% | Percentage of the fund’s portfolio invested in the stock 0.34% | Change in the portfolio weight of the stock over the last 3 months -0.09% | The rank of the stock in the fund’s portfolio based on its weight in the portfolio along with the change in the rank over the last 3 months 101/218 (-16) |
Motilal Oswal Nifty Midcap 150 Index Fund - Growth - Direct Plan Growth | The rupee value of the stock held by the fund divided by the stock’s market cap 0.0158% | Percentage of the fund’s portfolio invested in the stock 0.42% | Change in the portfolio weight of the stock over the last 3 months 0.42% | The rank of the stock in the fund’s portfolio based on its weight in the portfolio along with the change in the rank over the last 3 months 156/170 (+8) |
Nippon India Nifty Midcap 150 Index Fund - Growth - Direct Plan Growth | The rupee value of the stock held by the fund divided by the stock’s market cap 0.0129% | Percentage of the fund’s portfolio invested in the stock 0.43% | Change in the portfolio weight of the stock over the last 3 months 0.43% | The rank of the stock in the fund’s portfolio based on its weight in the portfolio along with the change in the rank over the last 3 months 152/170 (+15) |
Compare 3-month MF holding change on Screener
smallcases
Looks like this stock is not in any smallcase yet.
Events
Dividend Trend
No Dividends
IREDA has not given any dividends in last 5 years
Dividends
Corp. Actions
Announcements
Legal Orders
Dividends
Hmm, looks like data is unavailable here. Please come back after some timeRevenue from operations increased 38.49% YoY to Rs 1,629.54 crore in Q2 FY25. Profit before tax was at Rs 459.90 crore in Q2 FY25, up 21.06% as against Rs 379.89 crore posted in Q2 FY24. Operating profit (before Depreciation, impairment & Tax) stood at Rs 503.19 crore in Q2 FY25, registering the growth of 36% as compared with Rs 370.09 crore posted in corresponding quarter last year. Cost of borrowings fell to 7.80% in Q2 FY25 from 7.85% in Q2 FY24. Interest income stood at Rs 1,577.04 crore in Q2 FY25, up 36.78% to Rs 1,152.95 crore in Q2 FY24. Net interest margin increased from 3.17% to 3.34% in Q2 FY25. Yield on loan assets (gross) stood at 9.92% as on 30 September 2024 as comapred with 9.77% as on 30 September 2023. CRAR declined to 20.24% as on 30 September 2024 as compared with 20.92% as on 30 September 2023. Provision coverage ratio (Stage III) stood at 52.98% as on 30 September 2024 as compared with 48.11% as on 30 September 2023. On half year basis, the company's net profit jumped 33.16% to Rs 771.44 crore in Q2 FY25 as against Rs 579.31 crore in Q2 FY24. Revenue from operation stood at Rs 3139.82 crore in Q2 FY25, up 35.34% year on year. IREDA is a wholly owned Government of India (GoI) enterprise under the administrative control of the Ministry of New and Renewable Energy (the MNRE). It is also conferred with the Mini Ratna (Category-I) status. As on March 2024, GoI held 75% stake in IREDA. The scrip rose 0.28% to currently trade at Rs 234.40 on the BSE.Powered by Capital Market - Live
Indian Renewable Energy Development Agency has received approval from DIPAM vide OM dated 10 October 2024 and from the Administrative Ministry i.e. Ministry of New and Renewable Energy for setting up of wholly owned subsidiary for retail business such as PM KUSUM, rooftop solar and other B2c segments in RE and emerging RE sector including EVs, Energy storage, Green Technologies, sustainability, Energy Efficiency etc. Powered by Capital Market - Live
Net profit of Indian Renewable Energy Development Agency rose 36.18% to Rs 387.75 crore in the quarter ended September 2024 as against Rs 284.73 crore during the previous quarter ended September 2023. Sales rose 39.13% to Rs 1620.02 crore in the quarter ended September 2024 as against Rs 1164.36 crore during the previous quarter ended September 2023. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Sales1620.021164.36 39 OPM %92.51101.33 - PBDT469.34387.03 21 PBT459.91379.90 21 NP387.75284.73 36 Powered by Capital Market - Live
Indian Renewable Energy Deve. Agency will hold a meeting of the Board of Directors of the Company on 10 October 2024.Powered by Capital Market - Live
Earlier, on 29 August 2024, the company's board approved raising of funds by way of equity capital for an amount upto Rs 4,500 crore in one or more tranches through further public offer (FPO) / QIP / right issue / preferential issue or any other permitted mode or a combination thereof. The company's committee recommended for an approval of the alternative mechanism on the proposal of the raising of funds to DIPAM. The DIPAM on 18 September 2024, approved the alternative mechanism for the dilution of Government of India (GOI) shareholding in IREDA, owing to issue fresh equity through QIP route upto an extent of 7% of the paid-up equity of the company on post issue basis in one or more tranches. Indian Renewable Energy Development Agency (IREDA) is a wholly owned Government of India (GoI) enterprise under the administrative control of the Ministry of New and Renewable Energy (the MNRE). It is also conferred with the Mini Ratna (Category-I) status. As on 30th June 2024, GoI held 75% stake in IREDA. The company's consolidated net profit jumped 30% to Rs 383.69 crore in Q1 FY25 as compared with Rs 294.58 crore in Q1 FY24. Revenue from operations increased 32% YoY to Rs 1510.28 crore in Q1 FY25. Shares of IREDA rose 0.81% to currently trade at Rs 229.35 on the BSE. Powered by Capital Market - Live
The International Financial Services Centre Authority (IFSCA) has granted provisional registration to IREDA Global Green Energy Finance IFSC (a wholly owned subsidiary of IREDA) as a finance company at GIFT City. Pradip Kumar Das, CMD, IREDA, highlighted the importance of this milestone, stating, IREDA's presence in GIFT City reflects our commitment to advancing green financing solutions on a global scale. This new subsidiary will help us secure competitive funding and foster collaborations with international investors, boosting the renewable energy sector forward. As the Hon'ble Prime Minister Shri Narendra Modi has earlier underlined, 'GIFT City is a gateway to global opportunities,' and IREDA is poised to leverage these opportunities.Powered by Capital Market - Live
Indian Renewable Energy Development Agency has achieved a significant milestone by securing its international credit rating today. The International Credit Rating Agency, S&P Global Ratings assigned 'BBB-' long-term and 'A-3' short-term issuer credit ratings to IREDA, with Outlook 'Stable'. Powered by Capital Market - Live
The issue will be done in one or more tranches and is subject to the approval from the Government of India and other statutory/regulatory approvals. Indian Renewable Energy Development Agency (IREDA) is a wholly owned Government of India (GoI) enterprise under the administrative control of the Ministry of New and Renewable Energy (the MNRE). It is also conferred with the Mini Ratna (Category-I) status. As on 30th June 2024, GoI held 75% stake in IREDA. The company's consolidated net profit jumped 30% to Rs 383.69 crore in Q1 FY25 as compared with Rs 294.58 crore in Q1 FY24. Revenue from operations increased 32% YoY to Rs 1510.28 crore in Q1 FY25. The scrip ended 0.24% higher at Rs 254.55 on the BSE. Powered by Capital Market - Live
The Board of Directors of Indian Renewable Energy Development Agency (IREDA) in its meeting held today i.e., Thursday, 29 August 2024 has considered and accorded In-principle approval for raising of funds by way of equity capital for an amount aggregating upto Rs 4500 crore in one or more tranches through Further Public Offer (FPO) / Qualified Institutional Placement (QIP) / Right Issue / Preferential Issue or any other permitted mode or a combination thereof in such manner and on such terms and conditions as may be deemed appropriate, in accordance with the provisions of the applicable Acts/Regulations/Guidelines and subject to the approval from the Govt of India and other statutory/regulatory approvals .Powered by Capital Market - Live
Indian Renewable Energy Deve. Agency will hold a meeting of the Board of Directors of the Company on 29 August 2024.Powered by Capital Market - Live
Higher than Industry Revenue Growth
Over the last 5 years, revenue has grown at a yearly rate of 19.67%, vs industry avg of 12.57%
Increasing Market Share
Over the last 5 years, market share increased from 1.68% to 2.37%
Higher than Industry Net Income
Over the last 5 years, net income has grown at a yearly rate of 38.03%, vs industry avg of 18.41%