Indian Renewable Energy Dev Agency Ltd (NSE: IREDA) Share Price: Green financing of NBFC Indian Renewable Energy Development Agency Limited (IREDA) was the focus of attention today.
The share of the company increased to Rs 259.50 on Friday. There’s good news behind the rise in share.
The company is looking at raising funds to Rs 4,500 crore with the qualified institution placement (QIP) rights issue and other methods.
Following this announcement, it has seen a massive purchasing of IREDA shares in the last few days.
Meeting On August 29
IREDA has informed the board that a meeting is scheduled for the 29th of August on a Thursday to accept the fundraising plan. This year, the price of this stock gained 144 percent.
In only a few months, the stock has provided impressive returns for its investors. Comparatively, the standard Nifty 50 has gained 14 percent in the same time.
Company Business
IREDA is a Mini Ratna company under the supervision of the Ministry of New and Renewable Energy.
The stock of the company made an excellent debut on the stock market on the 29th of November in the last year with a premium of 56 percent and has since increased by a soaring.
The share of IREDA is trading 710 percent higher than its IPO value of just Rs 32. It has grown by almost 425 percent over the initial cost of Rs 49.99.
June Quarter Results
IREDA reported an increase of 30 percent in its net income to approximately Rs 383.69 crore in the period ending June 30th, 2024.
The profit by operations in the last quarter was up by 32 percent year-on-year to reach Rs 1,052 crore. Its asset quality of NBFC was also better.
Brokerage Opinion
A well-known brokerage remains optimistic regarding the long-term prospects for the growth of IREDA.
With a “buy” rating for the stock, the brokerage claimed that they valued this stock as 49 times FY26E EPS with a target of Rs 335.
Another brokerage has maintained its “sell” rating but has a revised price target of 130 rupees.
IREDA Stock Performance
| Current Price | ₹ 259.50 |
| 52-wk High | ₹ 310 |
| 52-wk Low | ₹ 50.0 |
| 5 Days Return | 5.51% |
| 1 Month Return | -0.33% |
Key Fundamentals Parameters
| Market Cap | ₹ 69,117 Cr. |
| Stock P/E | 51.5 |
| Book Value | ₹ 31.8 |
| Dividend | 0.00 % |
| ROCE | 9.30 % |
| ROE | 17.3 % |
| Face Value | ₹ 10.0 |
| P/B Value | 8.07 |
| OPM | 96.2 % |
| EPS | ₹ 5.18 |
| Debt | ₹ 49,687 Cr. |
| Debt to Equity | 5.80 |
IREDA Share: Last 5 Years’ Financial Condition
Last 5 Years’ Sales:
| 2020 | ₹ 2,368 Cr |
| 2021 | ₹ 2,655 Cr |
| 2022 | ₹ 2,860 Cr |
| 2023 | ₹ 3,483 Cr |
| 2024 | ₹ 5,331 Cr |
Last 5 Years’ Net Profit:
| 2020 | ₹ 215 Cr |
| 2021 | ₹ 346 Cr |
| 2022 | ₹ 634 Cr |
| 2023 | ₹ 865 Cr |
| 2024 | ₹ 1,341 Cr |
Disclaimer: The information on this site is only for informational and educational purposes and shouldn’t be considered financial advice or stock recommendations.
