Indian Renewable Energy Development Agency Limited
Incorporated in 1987, IREDA is a wholly owned GoI enterprise working under the administrative control of MNRE and has been awarded the ‘Mini Ratna’ (Category-I) status in 2015 by MNRE. Earlier, IREDA was classified as an NBFC-Investment and Credit Co...
Key Metrics
EPS
4.66
Current ratio
0.69
Debt/Equity
6.31
Debt/EBITDA
31.50
Interest coverage ratio
-
Operating Cashflow to total debt
-0.21
Financials
Pros & Cons
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Here's what we like about this company and potential risks we have identified.
Pros
Significant scale up in the loan portfolio with dominant share of RE projects.
Improving profitability metrics with return on total assets (RoTA) above 3% on a sustained basis.
Sovereign ownership and strategic importance to GoI
Improved capitalisation profile
Diversified resource profile
Liquidity: Adequate
Cons
Major change in the shareholding pattern and/or moderation in support from GoI.
Deteriorating asset quality and liquidity on a sustained basis.
Sector and borrower concentration
Low seasoning on new loan book
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About Indian Renewable Energy Development Agency Limited bond.
This comprehensive profile covers key factual information about Indian Renewable Energy Development Agency Limited. Incorporated in 1987, IREDA is a wholly owned GoI enterprise working under the administrative control of MNRE and has been awarded the ‘Mini Ratna’ (Category-I) status in 2015 by MNRE. Earlier, IREDA was classified as an NBFC-Investment and Credit Company, but in March 2023, RBI granted an Infrastructure Finance Company (IFC) status. IREDA is a strategically important entity for GoI, mainly financing projects in the solar, wind, hydro, bio-energy sectors and emerging areas such as EV, microgrids, state utilities for transmission and distribution, RE manufacturing. The company has ventured into evolving avenues, like, battery storage value chain, pumped hydro storage, EV value chain, green hydrogen and wave and tidal energy. The company, besides its own activities, implements programmes on behalf of MNRE based on the MoU entered with the said Ministry. EPS in Mar-2024 was 4.66. Current ratio in Mar-2024 was 0.69. Debt/Equity in Mar-2024 was 6.31. Debt/EBITDA in Mar-2024 was 31.50. Interest coverage ratio in Mar-2024 was . Operating Cashflow to total debt in Mar-2024 was -0.21. Total revenue for Mar-2025(E) was ₹5074.59. Net income for Mar-2025(E) stood at ₹1440.54. Total assets as of Mar-2024 were ₹62,600.42. Operating cash flow for Mar-2024 was ₹-11,099.64. Peers and comparison entities consist of Indian Renewable Energy Development Agency Limited, Indian Railway Finance Corp Limited, Power Finance Corporation Limited, REC Limited. As of Dec 2024, promoters hold N/A% while others hold N/A% of equity. Key strengths include: Significant scale up in the loan portfolio with dominant share of RE projects.; Improving profitability metrics with return on total assets (RoTA) above 3% on a sustained basis.; Sovereign ownership and strategic importance to GoI ; Improved capitalisation profile; Diversified resource profile; Liquidity: Adequate. Key risks include: Major change in the shareholding pattern and/or moderation in support from GoI.; Deteriorating asset quality and liquidity on a sustained basis.; Sector and borrower concentration ; Low seasoning on new loan book. Leadership team details include Ajay Yadav (Government Nominee Director), Balaji Natarajan (Chief Technology Officer), Bharat Singh Rajput (General Manager), Bijay Kumar Mohanty (Director - Finance), Dhiraj Mehta (General Manager - Accounts & Finance), Ekta Madan (Company Secretary & Compliance Officer), Jaganath Chennakeshava Murthy Jodidhar (Independent Director), Mala Ghosh Choudhury (General Manager - HR), Padam Lal Negi (Government Nominee Director), Pallav Kapoor (Chief Risk Officer), Piyush Kumar (Chief Compliance Officer), Pradip Kumar Das (Chairman & Managing Director), R C Sharma (General Manager - Accounts & Finance), Ram Nihal Nishad (Independent Director), Rohini Rawat (Independent Director), S K Sharma (General Manager - Accounts & Finance), Shabdsharan Narharibhai Brahmbhatt (Independent Director). This detailed corporate overview is structured to provide a thorough understanding of all available data points, enhance search visibility, and support investor analysis.