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PremiumIREDA Q3 Results Highlights: Indian Renewable Energy Development Agency Ltd (IREDA), the state-run financier, announced its financial results for the third quarter of FY25 on Thursday, January 9. The PSU ‘Navratna’ company reported a net profit growth of 27% year-on-year (YoY) at ₹425.38 crore in Q3FY25, while its total revenue from operations increased 35.6% YoY to ₹1,698.45 crore. The company’s net interest income (NII) during the quarter ended December 2024 rose 39% YoY to ₹622.3 crore.
In its business update for the third quarter ended December 2024, the company said it sanctioned loans worth ₹31,087 crore in Q3FY25, registering a growth of 129% from ₹13,558 crore during the year-ago period. Its loan disbursements increased 41% YoY to ₹17,236 crore, while loan book outstanding grew by 36% YoY to ₹69,000 crore. Ahead of the Q3 results, IREDA share price had ended 3.31% lower at ₹215.90 apiece on the BSE. The PSU stock has given multibagger returns of over 116% in one year.
IREDA Q3 Results Highlights: Here are key takeaways from IREDA Q3 results:
> Net profit up 27% to ₹425.38 crore from ₹335.5 crore, YoY
> Revenue from operations up 35.6% to ₹1,698.45 crore from 1,208.10 crore, YoY
> NII up 39% to ₹622.3 crore from ₹448.1 crore, YoY
> Operating margins down 3.3% to 30.42% from 33.72%, YoY
> Gross NPA ratio down to 2.68% from 2.90%, YoY
IREDA Q3 Results Live: The outstanding loan book for the NBFC stands at ₹68,960 crore as of the quarter ended December 2024. The outstanding loan book was at ₹50,580 in the previous year.
IREDA Q3 Results Live: The Gross non-performing assets (NPAs) dropped to 2.68% in the third quarter of FY2025, compared to 2.90% in the same period a year ago.
IREDA Q3 Results Live: Operating margins of IREDA dropped 3.3 per cent to 30.42 per cent levels, compared to 33.72 per cent earlier, as per the results filing data.
IREDA Q3 Results Live: State-owned Indian Renewable Energy Development Agency (IREDA's) net worth rose 21% to ₹9,842.07 crore in the third quarter, compared to ₹8,134.56 crore in the same period a year ago, as per the BSE filing.
IREDA Q3 Results Live: IREDA's Debt-equity ratio is at 5.89 times, compared to 5.13 times in the previous year.
IREDA Q3 Results Live: Indian Renewable Energy Development Agency (IREDA) shares closed 3.31 per cent lower at ₹215.90 after Thursday's market session, compared to ₹223.30 at the previous market close. The company released the results after market closing hours on Thursday.
IREDA Q3 Results Live: Indian Renewable Energy Development Agency (IREDA) total expenses for the third quarter rose by 33.8% to ₹1,160.78 in the financial year 2024-25, compared to ₹867.06 in the same period a year ago.
IREDA Q3 Results Live: Net profits for the October to December quarter of the financial year 2024-25 rose 27% to ₹425.38 crore, compared to ₹335.53 crore in the same quarter the previous year.
IREDA Q3 Results Live: Revenue from operations rise 37% to ₹1,654.45 crore in the October to December quarter results of the financial year 2024-25, compared to ₹1,208.10 crore in the same quarter the previous year.
IREDA Q3 Results Live: Net profits rise 27% YoY to ₹425.35 crore; revenue up 37%
IREDA Q3 Results Live: IREDA set its IPO price at ₹32 in late 2023, and the stock quickly soared to a record high of ₹214 just days after listing.
By early 2024, it had dropped to ₹100 before rebounding to reach new peaks.
At its highest point of ₹310, the stock had risen almost tenfold from its IPO price.
Currently, it is trading about 30% below that peak.
Continued government focus on the renewable sector and foray into the retail segment is expected to aid business growth and margins, supporting the delivery of steady return ratios on a sustained basis. Capital raising (approval received) of ₹4,500 crore will strengthen the balance sheet for future growth and remain book accretive. Factoring in the scope of relatively strong business growth, we value the stock at ~6.4x FY26 BV (~43x FY26E EPS), assigning a target of ₹280. Maintain Buy rating on the stock.
Indian Renewable Energy Development Agency Limited has been honoured with three awards at the 14th PSE Excellence Awards, organized by the Indian Chamber of Commerce (ICC). The company won Gold Awards in the Mini Ratna category for “Corporate Governance" and “Corporate Social Responsibility & Sustainability." Additionally, IREDA received the Silver Award for “Operational Performance Excellence."
During the third quarter of fiscal 2024, IREDA's revenue from operations came in at ₹1,252.85 crore as against ₹868.66 crore in fiscal 2023's December quarter. Meanwhile, its PAT rose to ₹335.53 crore from ₹200.74 crore.
IREDA share price tanked 3.5% ahead of the announcement of its December quarter results on Thursday, January 9. The stock settled at ₹215.50 on the BSE as against its last close of ₹223.30.
The stock has given a consolidation breakout on the daily timeframe, suggesting a rise in optimism, said Rupak De, Senior Technical Analyst at LKP Securities.
“Additionally, the stock has been sustaining above 50-day Exponential moving average (EMA). The RSI is in a bullish crossover, suggesting a rise in positive momentum. On the upside, the stock may move towards 250. Support is placed at 219, below which the stock could weaken," he added.
IREDA is currently trading 1.5% lower at ₹219.80 on the BSE.
IREDA share price has fallen 10% in the last six months. However, the stock has rallied 113% in the last one year, giving multibagger returns to investors. Meanwhile, the stock has rallied over a staggering 609% from IPO price of ₹32 to today's high of ₹227.
IREDA's revenue from operations increased by 38% YoY to ₹1,630 crore in the September quarter of financial year 2024-25 (Q2 FY25). The figure stood at ₹1,177 crore in Q2 FY24.
Similarly, the profit after tax (PAT) also witnessed a healthy growth of 36% YoY to ₹388 crore from ₹285 crore.
- Highest Domestic Credit Ratings of 'AM/Stable' for Long Term Borrowings
- The International Credit Rating Agency, S&P Global Ratings Limited, assigned 'BBB-' long-term and 'A-3' short-term issuer credit ratings with Outlook 'Stable'
- Consistently been rated 'Excellent' as per MOU with MNRE since Fiscal 2021
Indian Renewable Energy Development Agency (IREDA) is a government-owned company that provides financial assistance and other services for projects related to renewable energy and energy efficiency.
The company has over 37 years of experience. The government owns 75% stake in the company. It is classified as Navratna & Schedule A CPSE.
It is also India's largest pure-play green financing NBFC. Here are some highlights of the company
- Comprehensive suite of financial products and related services for RE Sector
- Infrastructure Finance Company status by RBI
- Systemically Important Non-Deposit Taking NBFC
- Incorporated Wholly Owned Subsidiary Company in IFSC - GIFT City
Loan book outstanding stood at ₹69,000 crore in Q3 FY25 for IREDA, showed provisional business update. This is an increase of 36% YoY over ₹50,580 crore posted in Q3 FY24.
IREDA reported a 41% increase in its loan disbursements during Q3 FY25 to ₹17,236 crore. The figure stood at ₹12,220 crore in the same period last year.
Indian Renewable Energy Development Agency Limited (IREDA) has been awarded an ‘Excellent’ rating for its performance under the MoU signed with the Ministry of New & Renewable Energy (MNRE) for the financial year 2023-24, scoring 98.24 (rounded to 98). This marks the fourth consecutive year that IREDA has earned an ‘Excellent’ rating, demonstrating its strong commitment to operational excellence and corporate governance.
Over the past three years, IREDA has consistently achieved outstanding results, receiving ‘Excellent’ ratings with scores of 93.50 in FY 2022-23, 96.54 in FY 2021-22, and 96.93 in FY 2020-21. These consistent accomplishments highlight the organization’s dedication to advancing India’s renewable energy objectives.
IREDA shared its provisional business update for the December 2024 (Q3) quarter. The company informed exchanges that the loan sanctioned during Q3 surged 129% to ₹31,087 crore as against ₹13,558 crore in the same quarter last year.
IREDA share price was trading at ₹222.35 per share, down 0.43% ahead of the Q3 results earnings announcement.
IREDA Q3 Results Live: Indian Renewable Energy Development Agency Ltd (IREDA), the state-run financier, is set to announce its financial results for the third quarter of FY25 today. The meeting of the company’s board of directors is scheduled today to approve financial results for the quarter ended December 2024.
