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HomeSHARE MARKETThis ₹135 Government Renewable Energy Share Can Double Your Money; Big Decision...

This ₹135 Government Renewable Energy Share Can Double Your Money; Big Decision Taken

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IREDA Share: Today, in this post we’ll discuss about IREDA latest news, fundamentals, potential growth areas, and all sorts of information regarding this company to gain a better understanding. We hope our analysis will provide you better insight about the company.

Shares of Indian Renewable Energy Development Agency Limited (NSE: IREDA) are in focus during trading on the last trading day. 

Shares of IREDA rose 2.50 percent to a high of Rs 139.50 during trading. There is a big reason behind this rise in shares.

The company’s board on Thursday approved the proposal to take a loan of Rs 24,200 crore in the financial year 2024-25.

Currently, Multibagger shares have increased by 335.94 percent from its IPO price of Rs 32. 

Let us tell you that IREDA made a great debut in the stock market on November 29 last year.

What Did The Company Say?

According to the information given to the stock exchange, this debt will be raised through bonds, perpetual debt instruments (PDI), term loans, commercial paper, and external commercial borrowing (ECB). 

In its meeting held, inter alia, the company said that the Board of Directors has approved a loan proposal of up to Rs 24,200 crore for the financial year 2024-25. 

Further, the order of the Appointments Committee of the Cabinet (ACC) dated March 15, 2024, was conveyed to the Board of Directors vide office order dated March 27, 2024, of the Ministry of New and Renewable Energy (MNRE). 

The order provides for six months starting March 5, 2024, or until the regular appointment or until further orders are issued, whichever comes first. 

Bijay Mohanty has been appointed Director (Technical) of IREDA.

Condition Of The Share

On technical setup, support can be seen at Rs 130 on the counter. The support level will be Rs 130 and the resistance will be at Rs 145.

It will be expected that after a close above the Rs 145 level, further gains may be seen up to Rs 155.Its trading range for a month will be between Rs 120 to Rs 160. 

The stock appears weak on the daily charts and could slip toward Rs 125 level. Resistance will range from 145 rupees.

The Company’s Background

IREDA is a Mini Ratna Company that falls under the administrative oversight of the Ministry of New and Renewable Energy.

This organization provides financial support and services for activities such as renewable energy projects, equipment manufacturing, and transmission. Under this, the work of giving funds is also done.

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₹ 36,527 Cr.
Current Price₹ 136
52-wk High₹ 215
52-wk Low₹ 50.0
Stock P/E42.2
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₹ 165₹ 231
2025₹ 235₹ 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
Dec202218.75%

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 IREDA Share. These informations 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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