Ireda Share Price Target 2024 2025 2026 2027 2028 2029 2030 Fundamentals & Quarterly Results – Indian Renewable Energy Development Agency (IREDA), is a non-profit organization that promotes and finances various renewable energy projects in India, and it is the largest public enterprise in this sector. Established in 1987 by Government of India and owned by Ministry of New and Renewable Energy, the agency has as its goal to help propel the country’s sustainable development through easy access to renewable energy mix. In a bid to encourage greater investment into this sector, IREDA has developed unique financial products and offers technical assistance such as capacity building programs and research support among others.
Latests Update -On Friday, July 12, IREDA announced its results for the quarter ending June 2024 (Q1FY25) and reported a growth of 30% in net profits amounting to ₹383 crore. The total revenue from operations was reported at ₹1,501 crore representing an increase of 32% from last year’s figure which was ₹1,143.50 crore.
IREDA Overview
Contents
INDIAN RENEWABLE ENERGY DEVELOPMENT AGENCY LTD was created to function as a fully owned government alternate energy project under the supervision of MNRE. Moreover, the organization has been declared a public financial institution and is also licensed with the Reserve Bank of India (RBI) as non-deposit taking NBFC.
The objective for this firm is to support, develop and commercialize new renewable sources of energy while providing monetary help for energy efficiency and conservation projects. In June 2015, IREDA acquired “Mini Ratna” status from GoI in Category I level.
| Company Name | INDIAN RENEWABLE ENERGY DEVELOPMENT AGENCY LTD |
|---|---|
| Listed at | NSE & BSE |
| Head Office | India Habitat Centre, East Court, Core-4A, 1st Floor, Lodhi Road, New Delhi – 11 00 03 |
| Board Of Directors |
|
| Official Website | ireda.in |
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IREDA Business Profile
The firm stands as the nation’s biggest ‘pure-play’ green finance NBFC. It gives a full assortment of monetary products and allied services starting from project creation to after work finish for Renewable Energy (RE) projects plus other value chain undertakings comprising fabrication of appliances and transportation.
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Projects
IREDA’s money making projects span all major RE Areas specifically: solar energy; wind energy; hydroelectricity; transference; biomass (including bagasse) and generating electricity in industrial units called co-generation; transformation of waste into energy; production of ethanol; compressed biogas; hybrid renewable energy sources (RE); energy-efficient buildings (EEC); as well as environmentally friendly transport systems.
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Loan Book
In the financial year 2024, IREDA has an assorted loan book worth Rs.600 billion. This reflects an increase of 27 percent when compared to FY23. 75 percent of its total loans are currently owned by private sector entities.
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In FY24, Sanctions amounting to Rs.37,353.68 Cr and Apportionments worth Rs.25,089.04 Cr are found to have increased by 14.63% and 15.94% respectively compared to Rs.32,586.60 Cr of loan sanctions and Rs.21,639.21 Cr disbursements in FY23.
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Borrowing
Rs.49,687 crore, the outstanding borrowings till now as at FY24. The majority of the borrowings (81%) were domestic while 19% of them were foreign. Fiscal Year 2024 marks the raise in borrowings worth Rs.16,401 crore. Approximately 98% of which are domestic ones.
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In March 2024, BSE Limited announced a borrowing program for FY25 up to Rs. 24,200 crores (this includes funding through issuance of bonds, term loans, commercial papers, etc., from both the domestic and international markets).
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IREDA Fundamentals & Quarterly Results
| Market Cap | ₹ 64,574 Cr. |
| Current Price | ₹ 240 |
| High / Low | ₹ 310 / 50.0 |
| Stock P/E | 48.1 |
| Book Value | ₹ 31.8 |
| Dividend Yield | 0.00 % |
| ROCE | 9.30 % |
| ROE | 17.3 % |
| Face Value | ₹ 10.0 |
| FCF Previous Annual | ₹ -12,360 Cr. |
| Debt to Equity | 5.80 |
| Debt Preceding Year | ₹ 40,165 Cr. |
| Reserves | ₹ 5,872 Cr. |
| Quick Ratio | 0.71 |
| Current Ratio | 0.71 |
| Free Cash Flow | ₹ -11,123 Cr. |
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IREDA Quarterly Results
| Metric | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 |
|---|---|---|---|---|---|---|---|
| Revenue (₹ Cr) | 869 | 1,036 | 1,143 | 1,177 | 1,253 | 1,391 | 1,510 |
| Interest (₹ Cr) | 524 | 638 | 764 | 793 | 760 | 847 | 975 |
| Expenses + (₹ Cr) | 105 | 104 | -66 | -3 | 99 | 56 | 51 |
| Financing Profit (₹ Cr) | 240 | 294 | 445 | 387 | 394 | 488 | 484 |
| Financing Margin % | 28% | 28% | 39% | 33% | 31% | 35% | 32% |
| Other Income + (₹ Cr) | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation (₹ Cr) | 6 | 6 | 6 | 7 | 8 | 9 | 9 |
| Profit before tax (₹ Cr) | 235 | 288 | 440 | 380 | 386 | 480 | 476 |
| Tax % | 14% | 12% | 33% | 25% | 13% | 30% | 19% |
| Net Profit + (₹ Cr) | 201 | 254 | 295 | 285 | 336 | 337 | 384 |
| EPS in Rs | 0.88 | 1.11 | 1.29 | 1.25 | 1.25 | 1.26 | 1.43 |
| Gross NPA % | 4.24% | 3.21% | 3.08% | 3.13% | 2.19% | ||
| Net NPA % | 2.03% | 1.66% | 1.61% | 1.65% | 0.95% |
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CAGR Report
| Metric | 10 Years | 5 Years | 3 Years | TTM / Last Year |
|---|---|---|---|---|
| Compounded Sales Growth | % | 20% | 23% | 43% |
| Compounded Profit Growth | % | 34% | 53% | 45% |
| Stock Price CAGR | % | % | % | % |
| Return on Equity | % | 15% | 16% | 17% |
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| Metric | Dec 2023 | Mar 2024 | Jun 2024 |
|---|---|---|---|
| Promoters | 75.00% | 75.00% | 75.00% |
| FIIs | 1.88% | 1.36% | 2.70% |
| DIIs | 4.37% | 0.94% | 0.42% |
| Public | 18.75% | 22.70% | 21.87% |
| No. of Shareholders | 13,67,953 | 21,47,272 | 22,43,293 |
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| Year | Target |
|---|---|
| 2024 | ₹272 |
| 2025 | ₹292 |
| 2026 | ₹253 |
| 2027 | ₹314 |
| 2028 | ₹380 |
| 2029 | ₹400 |
| 2030 | ₹543 |
| IREDA Share Price Target | Target |
| January | ₹245 |
| February | ₹186 |
| March | ₹221 |
| April | ₹200 |
| May | ₹179 |
| June | ₹228 |
| July | ₹243 |
| August | ₹252 |
| September | ₹233 |
| October | ₹261 |
| November | ₹276 |
| December | ₹292 |
| Month | Target |
| January | ₹283 |
| February | ₹234 |
| March | ₹218 |
| April | ₹226 |
| May | ₹243 |
| June | ₹262 |
| July | ₹287 |
| August | ₹274 |
| September | ₹295 |
| October | ₹268 |
| November | ₹258 |
| December | ₹253 |
| Month | Target |
| January | ₹267 |
| February | ₹284 |
| March | ₹296 |
| April | ₹305 |
| May | ₹256 |
| June | ₹273 |
| July | ₹287 |
| August | ₹311 |
| September | ₹328 |
| October | ₹342 |
| November | ₹327 |
| December | ₹314 |
| Month | Target |
| January | ₹301 |
| February | ₹322 |
| March | ₹287 |
| April | ₹304 |
| May | ₹328 |
| June | ₹353 |
| July | ₹364 |
| August | ₹336 |
| September | ₹357 |
| October | ₹365 |
| November | ₹376 |
| December | ₹380 |
| Month | Target |
| January | ₹385 |
| February | ₹375 |
| March | ₹379 |
| April | ₹383 |
| May | ₹389 |
| June | ₹391 |
| July | ₹395 |
| August | ₹388 |
| September | ₹381 |
| October | ₹389 |
| November | ₹392 |
| December | ₹400 |
| Month | Target |
| January | ₹414 |
| February | ₹435 |
| March | ₹456 |
| April | ₹473 |
| May | ₹489 |
| June | ₹516 |
| July | ₹532 |
| August | ₹558 |
| September | ₹571 |
| October | ₹554 |
| November | ₹532 |
| December | ₹543 |
Official Website – ireda.in