Indian Renewable Energy Development Agency Ltd (NSE: IREDA): Indian Renewable Energy Development Limited (IREDA) Chairman and Managing Director (CMD) Pradeep Kumar Das indicated that the company plans to set up a subsidiary to undertake rooftop solar, PM-KUSUM, electric and retail projects related to the B2C segment. She is making.
He said that IREDA, after the approval of the Government of India, can set up a 100 percent subsidiary to cater to the needs of the retail segment.
The CMD of the company gave this information while speaking at a program. The company’s share is trading at Rs 167.45 on the NSE on Wednesday, down 4.34 percent. The 52-week high price of the company shares is Rs. 214.80.
The Company’s MoU Was Signed With PNB
A few days ago, the company informed us that it had signed an MOU with Punjab National Bank (PNB) for the co-financing of green energy projects.
Let us tell you that Public Sector Undertaking IREDA provides financial assistance and other services to projects related to energy efficiency and conservation of renewable sources of energy.
Expressing his enthusiasm, IREDA CMD Pradeep Kumar Das said that this strategic partnership is an important step towards accelerating the development of renewable energy in India.
By combining our strengths and resources, this partnership aims to provide strong financial support to different projects and promote sustainability and environmental awareness.
About IREDA
IREDA ranks among the top five power sector financing NBFCs, specializing in renewable energy financing.
In addition, IREDA was the first company in India to issue green masala bonds; additionally, it is also the largest credit provider to RE sectors other than conventional energy.
IREDA is a state-owned business under the supervision of the Ministry of New and Renewable Energy (MNRE) that is pioneering innovative ways to finance renewable energy projects, as well as conservation and energy efficiency initiatives.
India’s first dedicated non-banking green financing company with loan portfolios covering solar power, wind power, biomass power, and hydropower generation among many others.
Fundamental Analysis of IREDA
| Market Cap | ₹ 46,216 Cr. |
| Current Price | ₹ 167.45 |
| 52-wk High | ₹ 214.80 |
| 52-wk Low | ₹ 50.0 |
| Stock P/E | 33.25 |
| Book Value | ₹ |
| Dividend | 0.00 % |
| ROCE | 8.17 % |
| ROE | 15.4 % |
| Face Value | ₹ 10.0 |
| P/B Value | — |
| OPM | 93.4 % |
| EPS | ₹ 3.78 |
| Debt | ₹ 40,165 Cr. |
| Debt to Equity | 6.77 |
| Year | 1st Target | 2nd Target |
| 2024 | ₹ 165 | ₹ 231 |
| 2025 | ₹ 235 | ₹ 280 |
| 2026 | ₹ 310 | ₹ 375 |
| 2027 | ₹ 450 | ₹ 505 |
| 2028 | ₹ 680 | ₹ 720 |
| 2029 | ₹ 755 | ₹ 810 |
| 2030 | ₹ 1000 | ₹ 1200 |
| Promoters Holding | |
| Dec 2022 | — |
| Mar 2023 | — |
| June 2023 | — |
| Sept 2023 | — |
| Dec 2023 | 75.00% |
| FII Holding | |
| Dec 2022 | — |
| Mar 2023 | — |
| June 2023 | — |
| Sept 2023 | — |
| Dec 2023 | 1.88% |
| DII Holding | |
| Dec 2022 | — |
| Mar 2023 | — |
| June 2023 | — |
| Sept 2023 | — |
| Dec 2023 | 4.37% |
| Public Holding | |
| Dec 2022 | —- |
| Mar 2023 | — |
| June 2023 | — |
| Sept 2023 | — |
| Dec 2023 | 18.75% |
To better understand how the market is performing, let’s look at the outlook of this share in the previous years.
However, investors should be aware of the risks and the market conditions before making any investment decision.
Last 5 Years’ Sales:
| 2019 | ₹ 2,020 Cr |
| 2020 | ₹ 2,368 Cr |
| 2021 | ₹ 2,655 Cr |
| 2022 | ₹ 2,860 Cr |
| 2023 | ₹ 3,483 Cr |
Last 5 Years’ Net Profit:
| 2019 | ₹ 250 Cr |
| 2020 | ₹ 215 Cr |
| 2021 | ₹ 346 Cr |
| 2022 | ₹ 634 Cr |
| 2023 | ₹ 865 Cr |
Last 5 Years’ Debt-To-Equity Ratio:
| 2019 | 4.92 |
| 2020 | 8.61 |
| 2021 | 7.8 |
| 2022 | 3.37 |
| 2023 | 6.77 |
Last 10 Years’ Profit Growth:
| 10 Years: | — |
| 5 Years: | — |
| 3 Years: | 59% |
| Current Year: | 36% |
Last 10 years’ Return on Equity (ROE):
| 10 Years: | — |
| 5 Years: | — |
| 3 Years: | 15% |
| Last Year: | 15% |
Sales Growth Over 10 Years:
| 10 Years: | — |
| 5 Years: | — |
| 3 Years: | 14% |
| Current Year: | 22% |
Conclusion
This article is a complete guide about the Indian Renewable Energy Development Agency Ltd Share. This information and forecasts are based on our research, company fundamentals, history, experiences, and technical analyses.
Also, We have discussed the share’s prospects and growth potential in detail.
This information will help you in your further investment.
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