Indian Renewable Energy Dev Agency Ltd (NSE: IREDA): IREDA share: Following the interim budget on February 1st there was a significant rise in the share price of Indian Renewable Energy Development Agency Limited (IREDA).
In the wake of this increase the share price climbed to Rs 215 on the 6th of February 2024. This is also the most high level for the share ever recorded.
However, since then, the stock has been on an downward trend and is currently down 26 percent off the record high.
Friday’s Decline
On Friday IREDA shares dropped by five percent. Shares of IREDA decreased by 5 percent, to 159.40 in BSE from the previous close of 167.75.
The IPO was launched on the market on November 29th, 2023. The 52-week lowest of the share is 49.99.
Expert Opinion Of An Expert
Brokerage house told the media that the stock is experiencing an increase from its lower levels close to the Rs 185 area in the chart daily.
There are positive indicators of this. The analysts expect the stock to rise towards 185 after it has reached Rs 154.
Based on expert reviews, IREDA stock price is a bearish trend with a significant resistance of around Rs 186.
The share could be able to fall below Rs 124.
IREDA Quarterly Results
IREDA’s net profits grew by 67 percent to 335.54 crore during the quarter that ended in December.
The increase in profits resulted from an increase in the loan book of the company as well as a sharp drop in net NPA between 2.03 percent to 1.52 percent compared to the previous year.
Revenue from operations rose 44.21 percent to 1253.20 crore in the quarter’s third. It was 868.98 crore during the same period in the year before.
The price band for IREDA’s IPO was between Rs 30-32 per share and the size of the 460 shares.
The IPO opened auctions beginning on November 21 and extending until November 23.
The stock was traded in the BSE as well as NSE at a 56.25 percent premium over the price of the issue.
About Indian Renewable Energy Dev Agency Ltd Company
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 Indian Renewable Energy Dev Agency Ltd
| Market Cap | ₹ 42,856 Cr. |
| Current Price | ₹ 159.45 |
| 52-wk High | ₹ 214.80 |
| 52-wk Low | ₹ 50 |
| Stock P/E | 31.66 |
| 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 | ₹ 128 | ₹ 186 |
| 2025 | ₹ 212 | ₹ 280 |
| 2026 | ₹ 310 | ₹ 375 |
| 2027 | ₹ 450 | ₹ 505 |
| 2028 | ₹ 680 | ₹ 720 |
| 2029 | ₹ 755 | ₹ 810 |
| 2030 | ₹ 1000 | ₹ 1200 |
| Promoters Holding | |
| Dec 2023 | 75.00% |
| Public Holding | |
| Dec2022 | 18.75% |
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% |
| 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 Indian 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.
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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.
