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HomeINVESTMENT₹135 Government Renewable Energy Share; Rs 24,200 Crore Loan Proposal Approved

₹135 Government Renewable Energy Share; Rs 24,200 Crore Loan Proposal Approved

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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/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 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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