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The Indian Renewable Energy Development Agency Limited (IREDA) is a key player in India's renewable energy sector. Established on March 11, 1987, as a Public Limited Company, IREDA has been instrumental in promoting and financing renewable energy projects across the country. Operating under the administrative control of the Ministry of New and Renewable Energy (MNRE), IREDA is recognised as a Navratna Government of India Enterprise. With over 36 years of experience, IREDA has significantly contributed to India's renewable energy initiatives.
IREDA was incorporated to provide financial assistance for renewable energy projects, including power generation, equipment supply, and fuel source projects. After obtaining its Certificate of Commencement of Business on March 21, 1987, it was designated as a Public Financial Institution by the Department of Company Affairs on October 17, 1995. In 2008, the Reserve Bank of India granted IREDA a Certificate of Registration to operate as a Non-Banking Financial Company (NBFC) without accepting public deposits. In 2023, IREDA achieved Infrastructure Finance Company status from the RBI.
IREDA's mission is to be a leading financial institution dedicated to promoting renewable energy and energy efficiency/conservation with the motto: ENERGY FOR EVER. The agency's vision aligns with the Government of India's initiatives to foster sustainable development through renewable energy.
IREDA offers a comprehensive suite of financial products and services tailored to meet the needs of renewable energy projects:
IREDA has been at the forefront of various government initiatives aimed at boosting renewable energy:
In recent years, IREDA has introduced several new schemes to support renewable energy:
IREDA has played a strategic role in developing and implementing various policies and structural reforms in the renewable energy sector. It has been actively involved in government programs aimed at fostering growth in this sector. These efforts have helped streamline processes and create a conducive environment for renewable energy investments.
The Indian Renewable Energy Development Agency (IREDA) has demonstrated robust financial performance in recent quarters, reflecting its strategic growth initiatives and strong market positioning. For the quarter ending June 2024, IREDA reported a net profit of ₹383.69 crore, marking a significant 30% increase compared to the same period last year. This surge in profitability is attributed to the agency's effective cost management and increased revenue generation.
In terms of revenue, IREDA achieved a total income of ₹1,510.71 crore for the quarter, which represents an 8.56% growth from the previous quarter. The agency's operating profit margin remains impressive at 97.69%, showcasing its efficiency in managing operational costs relative to its revenue. Furthermore, IREDA's net profit margin stands at 25.40%, indicating a healthy bottom-line performance.
IREDA's financial strength is further highlighted by its ambitious capital raising plans. The agency has received government approval to raise up to ₹4,500 crore through a Qualified Institutions Placement (QIP) and aims to expand its loan book beyond ₹85,000 crore by the end of the current financial year. This strategic move is part of a broader plan to raise approximately ₹30,000 crore through debt and equity in FY25, supporting its continued growth and investment in renewable energy projects.
Indian Renewable Energy Development Agency Limited (IREDA) remains a critical player in India's journey towards sustainable development. With its extensive experience and strategic initiatives aligned with government policies, IREDA continues to facilitate significant growth in the renewable energy sector. As it moves forward, IREDA is poised to further enhance its contributions towards achieving India's renewable energy targets.
Indian Renewable Energy Development Agency Ltd shares are currently priced at 203.14 on NSE and 203.4 on BSE as of 12/20/2024 12:00:00 AM. Please be aware that stock prices are subject to continuous fluctuations due to various factors.
The past 1-year return of Indian Renewable Energy Development Agency Ltd [IREDA] share was 84.92. The Indian Renewable Energy Development Agency Ltd [IREDA] share hit a 1-year low of Rs. 95.55 and a 1-year high of Rs. 310.
The market cap of Indian Renewable Energy Development Agency Ltd is Rs. 55453.96 Cr. as of 12/20/2024 12:00:00 AM.
The PE ratios of Indian Renewable Energy Development Agency Ltd is 38.4 as of 12/20/2024 12:00:00 AM.
The PB ratios of Indian Renewable Energy Development Agency Ltd is 5.93 as of 12/20/2024 12:00:00 AM
The Mutual Fund Shareholding was 0.19% at the end of 12/20/2024 12:00:00 AM.
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