IREDA shares jump 4% as Q3 PAT rises 38% YoY: Is this PSU stock a good buy after results?

Shares of Indian Renewable Energy Development Agency (IREDA) jumped up to 4% in intraday deals on Monday, January 12, following the announcement of its third quarter results for FY26.

PSU stock IREDA rose as much as 4.13% to the day's high of ₹142.30 apiece. As of 9.55 am, it was trading at ₹139.80, up 2.3% despite weakness in the Indian stock market.

IREDA Q3 results 2026

State-owned IREDA posted a sharp 37.5% year-on-year (YoY) growth in net profit to ₹585 crore as against ₹425 crore a year ago, led by strong revenue.

The revenue from operations jumped 25% YoY to ₹2,130 crore from ₹1,698 crore. At the same time, operating performance also remained firm as IREDA's operating profit saw a 31% YoY rise to ₹857 crore.

The company's loan book rose 28% in Q3 to ₹87,975 crore, while disbursements jumped 32% to ₹9,860 crore.

The company saw a growth in non-performing assets (NPAs), as its GNPA jumped to 3.75% from 2.68% YoY, and NNPA rose to 1.68% from 1.50%. On a sequential basis, however, the figure was lower as GNPA stood at 3.97% and NNPA at 1.97% in the preceding September quarter.

Commenting on the Q3 results performance, Seema Srivastava, Senior Research Analyst at SMC Global Securities, said that IREDA's Q3 FY26 financial performance shows a strong growth trajectory.

"IREDA's focus on renewable energy projects and strategic partnerships is driving growth, with a robust pipeline of projects under development. The company's capital adequacy ratio remains strong at 19.5%, providing a solid foundation for future growth. Overall, IREDA's Q3 FY26 performance reflects its resilience and growth potential in the renewable energy sector," she said.

IREDA shares: Technical outlook

IREDA shares have traded on a tepid note in the last year, shedding 30%. Meanwhile, in six months, the PSU stock has lost 12%.

Anshul Jain, Head of Research at Lakshmishree, said that IREDA has spent the last 45 weeks repeatedly taking support in the 137 to 140 zone, making it a well-observed demand area. The stock has once again approached this band, but the move has come on declining volumes, pointing to a lack of institutional participation, he added.

"While the support has held multiple times in the past, repeated testing without strong buying interest weakens its reliability. Structure across timeframes remains fragile, with no clear signs of accumulation to drive a sustainable bounce. If price slips and closes below 135, it would mark a structural failure of the range and likely trigger a deeper corrective phase. In that scenario, downside risk opens toward the 120 zone. Until volume expands meaningfully near support, upside remains capped, and risk stays skewed lower," Jain said.

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