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]
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]
| S.No. | Name | Current Price (Rs.) | Price to Earning | Market Capitalization (Rs.Cr.) | Dividend yield (%) | Net Profit latest quarter (Rs.Cr.) | YOY Quarterly profit growth (%) | Sales latest quarter (Rs.Cr.) | YOY Quarterly sales growth (%) | Return on capital employed (%) | Sales (Rs.Cr.) | OPM (%) | Profit after tax (Rs.Cr.) | Profit after tax latest quarter (Rs.Cr.) | Price to book value | Return on assets (%) | Debt to equity |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | I R F C | 127.60 | 24.40 | 166754.14 | 1.25 | 1776.98 | 10.19 | 6371.89 | -7.65 | 5.83 | 26774.19 | 99.33 | 6835.20 | 1776.98 | 2.97 | 1.34 | 7.25 |
| 2. | Power Fin.Corpn. | 375.05 | 5.00 | 123770.32 | 4.21 | 7834.39 | 8.31 | 28890.24 | 12.32 | 9.73 | 113492.35 | 96.22 | 24754.75 | 5743.25 | 0.97 | 2.75 | 7.88 |
| 3. | REC Ltd | 381.00 | 5.81 | 100325.83 | 4.72 | 4414.93 | 9.34 | 15152.67 | 10.75 | 9.96 | 59513.92 | 96.54 | 17266.97 | 4414.93 | 1.20 | 2.73 | 6.18 |
| 4. | H U D C O | 226.32 | 16.16 | 45307.00 | 1.83 | 709.83 | 3.08 | 3219.03 | 27.85 | 9.62 | 11761.56 | 97.44 | 2802.83 | 709.83 | 2.51 | 2.44 | 7.03 |
| 5. | Indian Renewable | 144.57 | 23.57 | 40613.06 | 0.00 | 549.00 | 41.59 | 2056.88 | 26.22 | 9.37 | 7606.77 | 88.78 | 1722.85 | 549.00 | 3.14 | 2.39 | 5.41 |
| 6. | IFCI | 53.11 | 37.58 | 14309.50 | 0.00 | 317.40 | 71.83 | 732.28 | 18.66 | 8.08 | 2010.62 | 70.73 | 380.79 | 142.96 | 1.61 | 1.57 | 0.40 |
| 7. | Tour. Fin. Corp. | 66.28 | 27.29 | 3068.61 | 0.91 | 29.07 | 13.64 | 66.45 | 2.90 | 10.67 | 255.42 | 87.79 | 112.46 | 29.07 | 2.45 | 4.67 | 0.82 |
| – | Median: 9 Co. | 127.6 | 23.57 | 40613.06 | 0.91 | 549.0 | 10.19 | 2056.88 | 10.75 | 9.49 | 7606.77 | 88.78 | 1722.85 | 549.0 | 2.48 | 2.39 | 5.79 |
Standalone figures in ₹ crores
| Dec 2022 | Dec 2023 | Dec 2024 | Jun 2023 | Jun 2024 | Jun 2025 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2023 | Sep 2024 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | – | – | – | – | – | – | – | – | – | – | – | – |
Expenses | 105 | 99 | 119 | -66 | 51 | 427 | 104 | 56 | 170 | -3 | 131 | 138 |
Operating Profit | – | – | – | – | – | – | – | – | – | – | – | – |
Other Income | 0 | 0 | 1 | 0 | 0 | 12 | 0 | 0 | 11 | 0 | 1 | 1 |
Profit before tax | 235 | 386 | 538 | 440 | 476 | 305 | 288 | 480 | 630 | 380 | 460 | 696 |
Tax % | 14% | 13% | 21% | 33% | 19% | 19% | 12% | 30% | 20% | 25% | 16% | 21% |
Net Profit | 201 | 336 | 425 | 295 | 384 | 247 | 254 | 337 | 502 | 285 | 388 | 549 |
EPS in Rs | 0.88 | 1.25 | 1.58 | 1.29 | 1.43 | 0.88 | 1.11 | 1.26 | 1.87 | 1.25 | 1.44 | 1.95 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2015 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|
Sales | – | – | – | – | – | – | – | – | – |
Expenses | 88 | 431 | 649 | 495 | 430 | 232 | 85 | 471 | 854 |
Operating Profit | – | – | – | – | – | – | – | – | – |
Other Income | 0 | -72 | 3 | 3 | 14 | -0 | -1 | 0 | 24 |
Interest | 646 | 1,183 | 1,459 | 1,570 | 1,587 | 2,088 | 3,164 | 4,141 | 4,567 |
Depreciation | 5 | 23 | 23 | 23 | 23 | 24 | 30 | 39 | 41 |
Profit before tax | 379 | 311 | 241 | 570 | 834 | 1,139 | 1,685 | 2,104 | 2,169 |
Net Profit | 272 | 250 | 215 | 346 | 634 | 865 | 1,252 | 1,699 | 1,723 |
EPS in Rs | 346.56 | 3.19 | 2.73 | 4.42 | 2.77 | 3.78 | 4.66 | 6.32 | 6.28 |
Dividend Payout % | 20% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | – |
Standalone figures in ₹ crores
| Mar 2015 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 785 | 785 | 785 | 785 | 2,285 | 2,285 | 2,688 | 2,688 | 2,809 |
Reserves | 1,394 | 1,799 | 1,737 | 2,211 | 2,984 | 3,651 | 5,872 | 7,578 | 10,111 |
Borrowings | – | – | – | – | – | – | – | – | – |
Other Liabilities | 663 | 3,181 | 3,277 | 3,298 | 3,827 | 4,347 | 4,354 | 4,728 | 4,934 |
Total Liabilities | 10,280 | 24,518 | 27,652 | 30,293 | 36,708 | 50,447 | 62,600 | 79,734 | 87,794 |
Fixed Assets | 33 | 303 | 282 | 266 | 248 | 229 | 361 | 349 | 335 |
Gross Block | 61.38 | 347.62 | 349.42 | 354.26 | 358.04 | 361.71 | 524.47 | 550.06 | – |
Accumulated Depreciation | 28.86 | 44.65 | 67.38 | 88.11 | 110.20 | 132.96 | 163.37 | 201.47 | – |
CWIP | 7 | 0 | 0 | 0 | 131 | 144 | 0 | 0 | 0 |
Investments | 0 | 0 | 0 | 0 | 99 | 99 | 101 | 626 | 780 |
Other Assets | 10,241 | 24,215 | 27,370 | 30,027 | 36,230 | 49,975 | 62,138 | 78,760 | 86,678 |
Total Assets | 10,280 | 24,518 | 27,652 | 30,293 | 36,708 | 50,447 | 62,600 | 79,734 | 87,794 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2015 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|
Cash from Operating Activity | – | -5,018 | -1,709 | -3,206 | -5,254 | -12,343 | -11,100 | -14,461 |
Cash from Investing Activity | – | -37 | -0 | -2 | -107 | -17 | -23 | -543 |
Cash from Financing Activity | – | 3,736 | 2,141 | 2,441 | 5,271 | 12,368 | 11,059 | 14,960 |
Net Cash Flow | – | -1,319 | 431 | -767 | -90 | 7 | -64 | -44 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2015 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|
Debtor Days | – | – | – | – | – | – | – | – |
Inventory Days | – | – | – | – | – | – | – | – |
Days Payable | – | – | – | – | – | – | – | – |
Cash Conversion Cycle | – | – | – | – | – | – | – | – |
Working Capital Days | – | – | – | – | – | – | – | – |
ROCE % | – | – | – | – | – | – | – | – |
Direct from BSE filings, auto-summarised
External media mentions & references
Editorial & research coverage
Stock Analysis
Corporate Announcements
