Indian Renewable Energy Development Agency Ltd.

•

ireda.inBSE: 544026NSE: IREDA

Market Cap₹ 31,435 Cr.

Current Price

High / Low₹ 163 / 109

Stock P/E16.0

Book Value₹ 50

Price to Book2.23

Dividend Yield1.21 %

ROCE8.7 %

ROE15.6 %

Face Value₹ 10

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ABOUT

AI Sector View

AI GENERATED

Financial Services

Buy

Financials remain one of the clearest macro beneficiaries. Loan growth was 18.3% (Aug/26) versus deposit growth 14.7% (Aug/26), SCB credit growth was 17.5% YoY (2026-07), UPI transactions rose 22.0% YoY (2026-07), and M3 money supply grew 15.0% YoY (2026-07). Sector flows have also turned meaningfully supportive, with INR 13171 crore net FPI inflow over 3 months to 2026-08-31 after INR -114652 crore in the prior 3 months.

Confidence

84%

View full sector analysis →

PROS

Company has delivered good profit growth of 40.2% CAGR over last 5 years
Comfortable capital adequacy - CAR of 20.6%
Solid return on assets for a lender - ROA of 2.1%
Latest quarter profit grew 36.8% YoY, showing strong momentum
Company has delivered good sales growth of 25.6% CAGR over last 5 years

CONS

Company has a low return on capital employed of 9.1%
Promoter holding has decreased over last 2 years: -3.2pp
Free cash flow has been persistently negative
Equity base is being diluted - shares outstanding up 23.0%
Operating margins have contracted to 87.3% from 93.4%

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Financial ServicesFinanceFinance - NBFC

Part ofNIFTYLARGEMIDCAP250 NIFTYMIDCAP150 NIFTY MIDCAP 100 NIFTY MIDCAP 150 NIFTY TOTAL MKT

S.No.	Name
1.	BAJFINANCE	1040.00	31.89	647499.25	0.58	6080.60	27.60	23165.45	20.37	10.87	70.70
2.	SHRIRAMFIN	1029.35	21.40	242204.36	1.05	3452.77	59.90	13400.43	17.46	11.49	74.63
3.	CHOLAFIN	1829.00	27.16	156208.67	0.11	1656.22	45.56	8856.29	21.89	9.70	70.07
4.	TATACAP	362.95	28.51	154067.52	0.16	16281.80	1464.16	88219.30	1051.00	8.66	75.72
5.	JIOFIN	231.00	73.81	152532.57	0.26	830.25	155.73	2004.47	227.28	2.11	69.71
6.	BAJAJHLDNG	11093.25	13.94	123460.67	1.76	2708.08	-92.27	394.33	23.34	14.81	684.72
7.	MUTHOOTFIN	2820.00	9.95	113214.11	1.06	2824.84	43.08	8671.60	36.25	15.87	83.76
8.	ABCAPITAL	398.80	26.60	109173.43	0.00	1223.85	43.85	12179.54	137.84	8.82	41.91
9.	LTF	310.20	24.43	77747.06	0.89	915.99	30.70	5212.92	22.38	8.54	62.13
10.	SBICARD	670.00	28.02	63760.09	0.37	664.44	19.51	5040.55	7.60	11.75	29.83
11.	HDBFS	674.90	25.77	56068.33	0.59	785.20	38.31	4937.90	18.71	9.09	57.98
12.	IREDA	111.90	15.99	31435.30	1.21	338.53	37.12	2249.45	16.31	8.69	78.41

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	1,131	1,164	1,253	1,391	1,510	1,630	1,668	1,893	1,934	2,050	2,121	2,165	2,248
	-63	24	867	922	1,035	1,170	146	170	427	138	200	308	1,837
Operating Profit	1,206	1,153	1,154	1,326	1,459	1,499	1,553	1,734	1,521	1,919	1,930	1,867	1,763
OPM %	106.66%	98.98%	92.11%	95.29%	96.60%	91.97%	93.11%	91.59%	78.64%	93.61%	91.01%	86.23%	78.39%
Other Income	3	28	0	10	0	1	28	11	12	1	30	6	1
Interest	764	793	760	847	975	1,030	1,032	1,104	1,218	1,213	1,233	1,241	1,341
Depreciation	6	7	8	9	9	9	10	11	10	10	11	13	10
	440	380	386	480	476	460	538	630	305	696	717	619	413
Tax %	32.98%	25.05%	13.10%	29.66%	19.35%	15.69%	20.96%	20.35%	19.02%	21.13%	18.42%	20.43%	18.23%
Net Profit	295	285	336	337	384	388	425	502	247	549	585	493	338
	1	1	0	0	0	0	2	2	1	2	2	2	0

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	1,479	1,779	2,020	2,367	2,655	2,860	3,482	4,964	6,742	8,309	8,584
	212	173	431	649	495	430	232	169	471	1,052	2,483
Operating Profit	1,267	1,606	1,589	1,718	2,160	2,430	3,250	4,795	6,271	7,257	6,101
OPM %	85.65%	90.29%	78.68%	72.57%	81.34%	84.97%	93.34%	96.59%	93.01%	87.34%	71.08%
	82	6	-72	5	3	14	1	85	12	28	38
Interest	813	1,030	1,183	1,459	1,570	1,587	2,088	3,164	4,141	4,905	5,027
Depreciation	7	21	23	23	23	23	23	30	39	44	44
Profit before Tax	528	561	311	241	570	834	1,139	1,685	2,104	2,337	2,445
Tax %	30.89%	29.88%	19.63%	11.02%	39.18%	24.02%	24.11%	25.69%	19.26%	19.84%	19.67%
Net Profit	365	393	250	215	346	634	865	1,252	1,699	1,873	1,964
EPS	465.22	501.15	3.19	2.73	4.42	8.03	3.78	4.66	6.32	6.67	—
Dividend Payout %	34.39%	32.25%	51.30%	109.71%	0.00%	0.00%	0.00%	0.00%	0.00%	20.24%	—

COMPOUNDED SALES GROWTH

10 Years:: 22%
5 Years:: 26%
3 Years:: 34%

COMPOUNDED PROFIT GROWTH

10 Years:: 20%
5 Years:: 40%
3 Years:: 29%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: -23%

RETURN ON EQUITY

10 Years:: 14%
5 Years:: 16%
3 Years:: 17%
Last Year:: 16%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	785	785	785	785	785	2,285	2,285	2,688	2,688	2,809
	1,725	1,752	1,799	1,737	2,211	2,984	3,651	5,872	7,578	10,972
	14,595	16,367	19,618	22,400	24,471	28,061	42,184	51,937	65,303	78,440
Trade Payables	138	139	126	66	22	5	5	7	9	5
	1,407	1,235	3,045	3,590	3,880	4,621	3,825	3,753	3,150	3,314
Total Liabilities	18,650	20,277	25,373	28,577	31,369	37,955	51,949	64,257	78,729	95,540
	318	314	303	282	266	248	229	361	349	320
Capital Work in Progress	0	3	0	0	0	128	139	0	0	0
	0	0	0	0	0	99	99	101	626	910
	0	0	0	0	0	0	0	4	3	3
Cash & Bank	3,139	2,318	1,053	1,576	603	527	955	675	466	706
	15,193	17,642	24,017	26,719	30,499	36,953	50,527	63,116	77,285	93,601
Total Assets	18,650	20,277	25,373	28,577	31,369	37,955	51,949	64,257	78,729	95,540

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-1,612	-1,772	-4,899	-1,539	-3,054	-4,948	-12,089	-11,100	-14,461	-14,482
Cash from Investing	-154	-27	-37	-0	-2	-107	-17	-23	-543	-281
Cash from Financing	3,011	1,733	3,736	2,141	2,441	5,271	12,368	11,059	14,960	14,748
	1,081	-198	-1,319	431	-767	-90	7	-64	-44	-15

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	75.00	75.00	75.00	75.00	71.76	71.76	71.76	71.76	71.76
	2.70	2.02	1.85	1.74	2.04	1.92	2.07	2.14	2.48
	0.42	0.35	0.63	0.51	2.95	2.57	2.51	2.44	2.39
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	21.88	22.63	22.51	22.74	23.25	23.75	23.67	23.66	23.36

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-04

Copy of Newspaper Publication

2026-09-04 - Newspaper Publication in respect of Notice of 39th Annual General Meeting ("AGM") & e-voting information.

2026-09-02

Updates

2026-09-02 - Indian Renewable Energy Development Agency Limited has informed the Exchange regarding 'Submission of 39th Business Responsibility and Sustainability Report for the Financial Year2025-26'.

2026-09-02

Shareholders meeting

2026-09-02 - Intimation of convening of 39th Annual General Meeting of the Company through Video Conferencing / Other Audio Visual Means and Newspaper publication thereof.

2026-09-02

General Updates

2026-09-02 - Intimation of convening of 39th Annual General Meeting of the Company through Video Conferencing / Other Audio Visual Means and Newspaper publication thereof.

2026-09-01

General Updates

2026-09-01 - Board Comments on fine levied by the Exchanges

2026-08-27

General Updates

2026-08-27 - Intimation regarding imposition of fines by Stock Exchanges.

2026-08-22

Record Date

2026-08-22 - Indian Renewable Energy Development Agency Limited has informed the Exchange that Record date for the purpose of Dividend is 11-Sep-2026.

2026-08-22

Outcome of Board Meeting

2026-08-22 - Changes in the Senior Management Personnel of the Company

2026-08-18

Change in Director(s)

2026-08-18 - Indian Renewable Energy Development Agency Limited has informed the Exchange regarding Change in Director(s) of the company.

News

Recent coverage and analyst commentary for IREDA

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Indian Renewable Energy Development Agency Ltd.

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Free 5nance Account

Name

BAJFINANCE

1040.00

31.89

647499.25

0.58

6080.60

27.60

23165.45

20.37

10.87

70.70

SHRIRAMFIN

1029.35

21.40

242204.36

1.05

3452.77

59.90

13400.43

17.46

11.49

74.63

CHOLAFIN

1829.00

27.16

156208.67

0.11

1656.22

45.56

8856.29

21.89

9.70

70.07

TATACAP

362.95

28.51

154067.52

0.16

16281.80

1464.16

88219.30

1051.00

8.66

75.72

JIOFIN

231.00

73.81

152532.57

0.26

830.25

155.73

2004.47

227.28

2.11

69.71

BAJAJHLDNG

11093.25

13.94

123460.67

1.76

2708.08

-92.27

394.33

23.34

14.81

684.72

MUTHOOTFIN

2820.00

9.95

113214.11

1.06

2824.84

43.08

8671.60

36.25

15.87

83.76

ABCAPITAL

398.80

26.60

109173.43

0.00

1223.85

43.85

12179.54

137.84

8.82

41.91

LTF

310.20

24.43

77747.06

0.89

915.99

30.70

5212.92

22.38

8.54

62.13

SBICARD

670.00

28.02

63760.09

0.37

664.44

19.51

5040.55

7.60

11.75

29.83

HDBFS

674.90

25.77

56068.33

0.59

785.20

38.31

4937.90

18.71

9.09

57.98

IREDA

111.90

15.99

31435.30

1.21

338.53

37.12

2249.45

16.31

8.69

78.41

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

1,131

1,164

1,253

1,391

1,510

1,630

1,668

1,893

1,934

2,050

2,121

2,165

2,248

-63

867

922

1,035

1,170

146

170

427

138

200

308

1,837

Operating Profit

1,206

1,153

1,154

1,326

1,459

1,499

1,553

1,734

1,521

1,919

1,930

1,867

1,763

OPM %

106.66%

98.98%

92.11%

95.29%

96.60%

91.97%

93.11%

91.59%

78.64%

93.61%

91.01%

86.23%

78.39%

Other Income

Interest

764

793

760

847

975

1,030

1,032

1,104

1,218

1,213

1,233

1,241

1,341

Depreciation

440

380

386

480

476

460

538

630

305

696

717

619

413

Tax %

32.98%

25.05%

13.10%

29.66%

19.35%

15.69%

20.96%

20.35%

19.02%

21.13%

18.42%

20.43%

18.23%

Net Profit

295

285

336

337

384

388

425

502

247

549

585

493

338

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

1,479

1,779

2,020

2,367

2,655

2,860

3,482

4,964

6,742

8,309

8,584

212

173

431

649

495

430

232

169

471

1,052

2,483

Operating Profit

1,267

1,606

1,589

1,718

2,160

2,430

3,250

4,795

6,271

7,257

6,101

OPM %

85.65%

90.29%

78.68%

72.57%

81.34%

84.97%

93.34%

96.59%

93.01%

87.34%

71.08%

-72

Interest

813

1,030

1,183

1,459

1,570

1,587

2,088

3,164

4,141

4,905

5,027

Depreciation

Profit before Tax

528

561

311

241

570

834

1,139

1,685

2,104

2,337

2,445

Tax %

30.89%

29.88%

19.63%

11.02%

39.18%

24.02%

24.11%

25.69%

19.26%

19.84%

19.67%

Net Profit

365

393

250

215

346

634

865

1,252

1,699

1,873

1,964

EPS

465.22

501.15

3.19

2.73

4.42

8.03

3.78

4.66

6.32

6.67

—

Dividend Payout %

34.39%

32.25%

51.30%

109.71%

0.00%

20.24%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

785

2,285

2,688

2,809

1,725

1,752

1,799

1,737

2,211

2,984

3,651

5,872

7,578

10,972

14,595

16,367

19,618

22,400

24,471

28,061

42,184

51,937

65,303

78,440

Trade Payables

138

139

126

1,407

1,235

3,045

3,590

3,880

4,621

3,825

3,753

3,150

3,314

Total Liabilities

18,650

20,277

25,373

28,577

31,369

37,955

51,949

64,257

78,729

95,540

318

314

303

282

266

248

229

361

349

320

Capital Work in Progress

128

139

101

626

910

Cash & Bank

3,139

2,318

1,053

1,576

603

527

955

675

466

706

15,193

17,642

24,017

26,719

30,499

36,953

50,527

63,116

77,285

93,601

Total Assets

18,650

20,277

25,373

28,577

31,369

37,955

51,949

64,257

78,729

95,540

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

-1,612

-1,772

-4,899

-1,539

-3,054

-4,948

-12,089

-11,100

-14,461

-14,482

Cash from Investing

-154

-27

-37

-0

-2

-107

-17

-23

-543

-281

Cash from Financing

3,011

1,733

3,736

2,141

2,441

5,271

12,368

11,059

14,960

14,748

1,081

-198

-1,319

431

-767

-90

-64

-44

-15

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

75.00

71.76

2.70

2.02

1.85

1.74

2.04

1.92

2.07

2.14

2.48

0.42

0.35

0.63

0.51

2.95

2.57

2.51

2.44

2.39

Government

0.00

21.88

22.63

22.51

22.74

23.25

23.75

23.67

23.66

23.36

Indian Renewable Energy Development Agency Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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Indian Renewable Energy Development Agency Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI