Company Overview

Indian Renewable Energy Development Agency Limited (IREDA) is India's largest pure-play green financing NBFC with over 39 years of experience. The company holds Infrastructure Finance Company status from RBI and operates as a Middle Layer Non-Deposit Taking NBFC. IREDA is 71.76% owned by the Government of India and serves as the Ministry of New & Renewable Energy's dedicated financing entity. The company has been awarded Navratna status by DPE and maintains AAA (Stable) domestic credit ratings from ICRA, CARE, India Ratings, Brickwork, and Acuite, with a BBB (Stable) international rating from S&P Global.

Financial Highlights - Standalone

Statement of Profit & Loss (₹ in Crores)

Quarter Ended 30.09.2026:

  • Revenue from operations: ₹2,344 crore (up 14% YoY from ₹2,057 crore in Q2 FY26)
  • Total Income: ₹2,345 crore
  • Finance cost: ₹1,376 crore (up 13% YoY)
  • Employee Benefit Expenses: ₹30 crore (up 15% YoY)
  • Operating Profit (Before Depreciation, Impairment & Tax): ₹904 crore (up 16% YoY)
  • Impairment on Financial Instruments: ₹187 crore (up 167% YoY)
  • Profit Before Tax: ₹707 crore (up 2% YoY)
  • Tax expense: ₹152 crore (up 4% YoY)
  • Profit After Tax: ₹554 crore (up 1% YoY)

Half Year Ended 30.09.2026:

  • Revenue from operations: ₹4,592 crore (up 15% YoY from ₹4,004 crore)
  • Total Income: ₹4,594 crore
  • Finance cost: ₹2,718 crore
  • Operating Profit: ₹1,745 crore (up 20% YoY from ₹1,454 crore)
  • Impairment on Financial Instruments: ₹605 crore
  • Profit Before Tax: ₹1,118 crore (up 12% YoY from ₹1,001 crore)
  • Profit After Tax: ₹891 crore (up 12% YoY from ₹796 crore)

Key Financial Ratios

  • Yield on Loan Assets (Gross): 9.41% (vs 9.87% as of 30.09.25)
  • Cost of Borrowings: 7.20% (vs 7.24% as of 30.09.25)
  • Interest Spread: 2.21% (vs 2.63% as of 30.09.25)
  • Net Interest Margin (Annualised): 3.83% (vs 3.72% as of 30.09.25)
  • Debt Equity Ratio: 5.64 (vs 5.41 as of 30.09.25)
  • Earning Per Share: ₹3.17 (vs ₹2.88 as of 30.09.25)
  • Provision Coverage Ratio: 70.44% (vs 51.48% as of 30.09.25)
  • CRAR: 19.83% (vs 20.10% as of 30.09.25)

Statement of Assets & Liabilities (₹ in Crores, as of 30.09.2026)

Liabilities:

  • Equity Share Capital: ₹2,809 crore (unchanged from previous periods)
  • Other Equity: ₹11,528 crore (vs ₹10,111 crore as of 30.09.25)
  • Borrowings: ₹80,882 crore (vs ₹69,939 crore as of 30.09.25)
  • Derivative financial instruments: ₹101 crore
  • Other Financial Liabilities: ₹2,303 crore
  • Total Liabilities: ₹97,986 crore

Assets:

  • Cash and Cash Equivalents: ₹120 crore
  • Bank Balance: ₹875 crore
  • Derivative financial instruments: ₹796 crore
  • Loans: ₹93,961 crore (vs ₹82,012 crore as of 30.09.25)
  • Investments: ₹1,002 crore
  • Fixed Assets: ₹306 crore
  • Total Assets: ₹97,986 crore

Asset Quality

Non-Performing Assets (₹ in Crores):

  • Gross NPAs: ₹3,482 crore as of 30.09.2026 (3.57% of loans)
  • Provision for Impairment: ₹2,453 crore
  • Net NPAs: ₹1,029 crore (1.08% of loans)
  • Gross NPA ratio improved to 3.57% from 3.97% YoY
  • Net NPA ratio improved to 1.08% from 1.97% YoY

Borrowing Profile

Outstanding Borrowings (₹ in Crores as of 30.09.2026):

  • Total Borrowings: ₹80,882 crore
  • Domestic Borrowings: ₹69,378 crore (86% share)
  • Bonds: ₹33,180 crore
  • Loans from Bank/FII/CC Limit & others: ₹36,198 crore
  • Foreign Borrowings: ₹11,505 crore (14% share)
  • Hedged: ₹9,477 crore (82% of foreign borrowings)
  • Un-Hedged: ₹2,028 crore
  • ₹10,071 crore borrowings raised during H1 FY27

Shareholding Pattern

As on 30.09.2026:

  • President of India (through Secretary MNRE): 71.76%
  • Resident Individuals: 21.77%
  • Insurance Companies: 2.38%
  • FIIs & FPIs: 2.57%
  • Mutual Funds: 0.14%
  • Non-Resident Individuals: 0.46%
  • Others: 0.92%

Top Institutional Shareholders:

  • Life Insurance Corporation Of India: 2.21%
  • Vanguard Total International Stock Index Fund: 0.41%
  • Vanguard Emerging Markets Stock Index Fund: 0.40%
  • Vanguard Fiduciary Trust Company: 0.21%
  • NSE Clearing Limited: 0.19%

ESG Performance

FY26 Highlights:

  • Released first ever ESG Report aligned with NGRBC, GRI, SASB & UNSDG frameworks
  • Submitted 3rd BRSR with reasonable assurance from independent agency
  • Won Green Tech Environment & Sustainability Award 2026 in Green Financing category
  • Conferred 2nd Runner-Up at ICMAI (SSB) Green Awards 2024–25

Environmental Performance:

  • Water intensity per rupee of turnover decreased by 4.76% YoY
  • Energy intensity per rupee of turnover decreased by 10.61% YoY
  • Reported Scope 3 indirect emissions for the first time

Social Performance:

  • 23% women employees – highest among CPSEs

ESG Ratings:

  • CFC Finlease: 73 (Very Good)
  • SES ESG Research: 72.3 (Above Average)
  • Niche Ninety Nine: 70.14 (Low Risk – Good Sustainability Practices)
  • CRISIL ESG: 71 (Leadership)