The board of the government company Indian Renewable Energy Development Agency (NSE: IREDA) has approved a loan proposal of Rs 24,200 crore for the year 2024-25.
In a regulatory filing, it was stated that the debt included raising funds via bonds, perpetual debt instrument (PDI), commercial paper, term loans, and external commercial borrowings.
The filing stated that the Board of Directors, in its meeting on, Thursday, March 28, 2024, approved borrowing up to Rs 24200 crores for the financial years 2024-25.
The Ministry of New and Renewable Energy has also informed the public about the office order dated 27th March 2024, confirming the transfer of additional responsibility of the Director post through the Appointment Committee of Cabinet (ACC), dated 15th March 2024.
Change In Management
Bijay Mohanty was given additional charge of the position of Director (Technical), IREDA.
This will be for six months, starting March 5, 2024. The board has taken note of this.
Previously, the additional responsibility of the Director (Technical), was held by IREDA Chairman & Managing Director Pradeep K. Das until March 4, 2024.
Stock Performance
The company’s share price closed Thursday at Rs 135.75, a decrease of 0.18 percent.
The 52-week high of the share is Rs 214.80, while the company’s shares have seen an increase of 126.25 percent in the last year.
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 | ₹ 36,500 Cr. |
| Current Price | ₹ 136 |
| 52-wk High | ₹ 215 |
| 52-wk Low | ₹ 50 |
| Stock P/E | 42.2 |
| 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 |
IREDA Share Price Target 2024 To 2030
| 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 |
IREDA Shareholding Pattern
| Promoters Holding | |
| Dec 2023 | 75.00% |
| Public Holding | |
| Dec2022 | 18.75% |
IREDA Share: Last 5 Years’ Financial Condition
To gain a better understanding of 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 | 4.29 |
| 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% |
| Current Year: | 15% |
Last 10 Years’ Sales Growth:
| 10 Years: | — |
| 5 Years: | — |
| 3 Years: | 14% |
| Current Year: | 22% |
Conclusion
This article is a complete guide about Renewable Energy Dev Agency Ltd Share.
These information and forecasts are based on our analysis, research, company fundamentals and history, experiences, and various technical analyses.
Also, We have talked in detail about the share’s future prospects and growth potential.
Hopefully, these informations will help you in your further investment.
If you are new to our website and want to get all the latest updates related to the stock market, join us on Telegram Group.
If you have any further queries, please comment below. We will be happy to answer all your questions.
If you like this information, share the article with as many people as possible.
Disclaimer: Dear readers, we’d like to inform you that we are not authorized by SEBI (Securities and Exchange Board of India). The information on this site is only for informational and educational purposes and shouldn’t be considered financial advice or stock recommendations. Also, the share price predictions are completely for reference purposes. The price predictions will only be valid when there are positive signs on the market. Any uncertainty about the company’s future or the current state of the market will not be considered in this study. We are not responsible for any financial loss you might incur through the information on this site. We are here to provide timely updates about the stock market and financial products to help you make better investment choices. Do your own research before any investment.
