₹ 181 1.43%
07 Jun - close price
About
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 GoI conferred the status of Mini Ratna under Category-I upon IREDA in June 2015.
RBI classified company as “Infrastructure Finance Company”.[1]
Key Points
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.
- Market Cap ₹ 48,622 Cr.
- Current Price ₹ 181
- High / Low ₹ 215 / 50.0
- Stock P/E 38.8
- Book Value ₹ 31.8
- Dividend Yield 0.00 %
- ROCE 9.30 %
- ROE 17.3 %
- Face Value ₹ 10.0
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Pros
- Company has delivered good profit growth of 33.9% CAGR over last 5 years
Cons
- Stock is trading at 5.68 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
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Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | |
|---|---|---|---|---|---|---|
| Revenue | 869 | 1,036 | 1,143 | 1,177 | 1,253 | 1,391 |
| Interest | 524 | 638 | 764 | 793 | 760 | 847 |
| 105 | 104 | -66 | -3 | 99 | 56 | |
| Financing Profit | 240 | 294 | 445 | 387 | 394 | 488 |
| Financing Margin % | 28% | 28% | 39% | 33% | 31% | 35% |
| 0 | 0 | 0 | 0 | 0 | 0 | |
| Depreciation | 6 | 6 | 6 | 7 | 8 | 9 |
| Profit before tax | 235 | 288 | 440 | 380 | 386 | 480 |
| Tax % | 14% | 12% | 33% | 25% | 13% | 30% |
| 201 | 254 | 295 | 285 | 336 | 337 | |
| EPS in Rs | 0.88 | 1.11 | 1.29 | 1.25 | 1.25 | 1.26 |
| Gross NPA % | 4.24% | 3.21% | 3.08% | 3.13% | ||
| Net NPA % | 2.03% | 1.66% | 1.61% | 1.65% | ||
| Raw PDF |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|---|
| Revenue | 2,020 | 2,368 | 2,655 | 2,860 | 3,483 | 4,965 |
| Interest | 1,183 | 1,459 | 1,570 | 1,587 | 2,088 | 3,164 |
| 431 | 649 | 495 | 430 | 232 | 85 | |
| Financing Profit | 406 | 259 | 590 | 843 | 1,163 | 1,716 |
| Financing Margin % | 20% | 11% | 22% | 29% | 33% | 35% |
| -72 | 5 | 3 | 14 | -0 | -1 | |
| Depreciation | 23 | 23 | 23 | 23 | 24 | 30 |
| Profit before tax | 311 | 241 | 570 | 834 | 1,139 | 1,685 |
| Tax % | 20% | 11% | 39% | 24% | 24% | 26% |
| 250 | 215 | 346 | 634 | 865 | 1,252 | |
| EPS in Rs | 3.19 | 2.73 | 4.42 | 2.77 | 3.78 | 4.66 |
| Dividend Payout % | -0% | -0% | -0% | -0% | -0% | -0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 20% |
| 3 Years: | 23% |
| TTM: | 43% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 34% |
| 3 Years: | 53% |
| TTM: | 45% |
| 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 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|---|
| Equity Capital | 785 | 785 | 785 | 2,285 | 2,285 | 2,688 |
| Reserves | 1,799 | 1,737 | 2,211 | 2,984 | 3,651 | 5,872 |
| 18,753 | 21,854 | 24,000 | 27,613 | 40,165 | 49,687 | |
| 3,181 | 3,277 | 3,298 | 3,827 | 4,347 | 4,354 | |
| Total Liabilities | 24,518 | 27,652 | 30,293 | 36,708 | 50,447 | 62,600 |
| 303 | 282 | 266 | 248 | 229 | 361 | |
| CWIP | 0 | 0 | 0 | 131 | 144 | -0 |
| Investments | 0 | 0 | 0 | 99 | 99 | 99 |
| 24,215 | 27,370 | 30,027 | 36,230 | 49,975 | 62,140 | |
| Total Assets | 24,518 | 27,652 | 30,293 | 36,708 | 50,447 | 62,600 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| 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 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|---|
| ROE % | 8% | 13% | 15% | 15% | 17% |
Documents
Announcements
- Announcement under Regulation 30 (LODR)-Newspaper Publication
1 Jun - Newspaper Publication in respect of 37th AGM and other evoting information of the Company.
- Notice Of 37 AGM Of Indian Renewable Energy Development Agency Limited 31 May
- Announcement under Regulation 30 (LODR)-Newspaper Publication
30 May - Newspaper Publication relating to 37th Annual General Meeting to be held via VC/OAVM
- Disclosure Under Regulation 30 Of SEBI (LODR) Regulations, 2015 24 May
- Clarification On News Item Appearing In "Media / Publication" Under 30(11) Of SEBI (LODR) Regulations, 2015 21 May
