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HomeSTOCKS₹148 Govt Renewable Energy Share: Upper Circuit After Result; ₹400 Target

₹148 Govt Renewable Energy Share: Upper Circuit After Result; ₹400 Target

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IREDA (NSE: IREDA) Share Price: Indian Renewable Energy Development Agency Limited has released its December quarter results. 

There was a 77 percent jump in the company’s profit in this quarter and it stood at Rs 355.54 crore. The company made Rs 200.75 crore in the same quarter last year.  

The total income of the company increased to Rs 1,253.19 crore in the quarter, which was Rs 868.97 crore in the same quarter of the last financial year. 

The company said that its expenditure in the December quarter was Rs 867.05 crore which was Rs 634.27 crore in the same quarter of the last financial year.

The top brokerage has set a long-term target of Rs 400 for the future.

Share Made Record

After the quarterly results, IREDA shares closed at an all-time high of Rs 148.90 on Saturday. 

It closed with a rise of 10 percent compared to the previous closing of Rs 135.40. During this period, the stock also hit the upper circuit. 

We’ll tell you the company went public in November of last year. This IPO was listed on Indian exchanges on 29 November 2023 at ₹60 per share. 

At the same time, the issue price of the IPO was ₹ 32, which represents a premium of 87.5 percent. 

This IPO continued to grow for 11 consecutive trading days. It has increased by 130 percent from the listing price and 300 percent from the IPO issue price.

Company Overview

IREDA is a non-banking financial company under the Ministry of New and Renewable Energy. 

It is engaged in providing financial assistance for setting up, expanding, and developing projects related to renewable and new sources of energy and energy efficiency/conservation.

Promoters own 75 percent of the company’s shares in the December quarter. At the same time, public shareholding is 25 percent.

What Do Experts Say

According to stock market analysts, IREDA’s share price could soon reach Rs 172. 

Two well-known market experts said, “The stock has seen a good bounce with signs of strength after the IPO listing. Further upside in the price is expected in the coming days”. 

The stock was quoted with a stop loss of ₹125 respectively. It can be bought with a target price of ₹156 and ₹172.

About IREDA 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 IREDA

Market Cap₹ 39,993 Cr.
Current Price₹ 149
52-wk High₹ 149
52-wk Low₹ 50.0
Stock P/E46.2
Book Value
Dividend0.00 %
ROCE8.17 %
ROE15.4 %
Face Value₹ 10.0
P/B Value
OPM93.4 %
EPS₹ 3.78
Debt₹ 40,165 Cr.
Debt to Equity6.77

IREDA Share Price Target 2024 To 2030

Year1st Target2nd Target
2024₹128₹186
2025₹212₹280
2026₹310₹375
2027₹450₹505
2028₹680₹720
2029₹755₹810
2030₹1000₹1200
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IREDA  Shareholding Pattern

Promoters Holding
Dec 202375.00%
FII Holding
Dec 20231.88%
DII Holding
Dec 20234.37%
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Public Holding
Dec202318.75%

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
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Last 5 Years’ Debt-To-Equity Ratio:

20194.29
20208.61
20217.8
20223.37
20236.77

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 Indian Renewable Energy Dev Agency Ltd (IREDA) 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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If you have any further queries, please comment below. We will be happy to answer all your questions. 

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Also Read: ₹176 Railway Share: More Than 200% Return In 2023; 76% Return In 9 Trading Days

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.

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