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 through the Ministry of New & Renewable Energy (MNRE) and has been awarded Navratna status by DPE. The company serves as implementation/nodal agency for several prominent MNRE schemes.

Financial Performance - Q1 FY27 (Standalone)

Profit & Loss Statement (₹ Crores):

  • Revenue from operations: ₹2,248 crore (15% YoY growth from ₹1,947 crore in Q1 FY26)
  • Interest Expense: ₹1,341 crore (10% YoY growth)
  • Operating Profit (Before Dep, Impairment & Tax): ₹841 crore (24% YoY growth)
  • Impairment on Financial Instrument: ₹419 crore (15% YoY increase)
  • Profit Before Tax: ₹413 crore (35% YoY growth from ₹305 crore)
  • Profit After Tax: ₹338 crore (37% YoY growth from ₹247 crore)

Key Financial Ratios:

  • Yield on Loan Assets (%)(Gross): 9.46% (vs 9.95% in Q1 FY25)
  • Cost of Borrowings (%): 7.12% (vs 7.40% in Q1 FY25)
  • Interest Spread (%): 2.34% (vs 2.55% in Q1 FY25)
  • Net Interest Margin (%)(Annualised): 3.75% (vs 3.60% in Q1 FY25)
  • Debt Equity Ratio: 5.59 (vs 5.35 in Q1 FY25)
  • Earning Per Share (in ₹): ₹1.20 (not annualized)
  • Provision Coverage Ratio (%): 68.22% (vs 51.10% in Q1 FY25)
  • CRAR (%): 20.30% (vs 19.58% in Q1 FY25)

Balance Sheet Position (₹ Crores)

As of 30 June 2026:

  • Outstanding Loan book: ₹94,936 crore (19% YoY growth from ₹79,941 crore)
  • Net worth: ₹14,133 crore (14% YoY growth from ₹12,402 crore)
  • Total Borrowings: ₹79,002 crore (86% domestic, 14% foreign)
  • Cash and Cash Equivalents: ₹295 crore
  • Bank Balance other than cash: ₹565 crore
  • Derivative financial instruments (assets): ₹797 crore
  • Investments: ₹979 crore
  • Fixed Assets: ₹314 crore

Lending Profile & Portfolio Composition

Loan Book Composition by Sector (₹ Crores as of 30 June 2026):

  • Solar Energy: ₹24,483 crore (26% of total)
  • Loan facility to state utilities: ₹18,416 crore (19%)
  • Wind Power: ₹10,764 crore (11%)
  • Manufacturing: ₹10,756 crore (11%)
  • Hydro Power: ₹8,044 crore (8%)
  • Ethanol: ₹7,259 crore (8%)
  • Hybrid Wind & Solar: ₹5,416 crore (6%)
  • Smart Meters: ₹1,990 crore (2%)
  • Emerging Technology (BESS): ₹907 crore (1%)
  • Green Hydrogen and its derivatives: ₹719 crore (1%)
  • Electric Vehicle (EV): ₹690 crore (1%)

Private vs Public Sector Exposure:

  • Private sector: ₹72,756 crore (77%)
  • Public sector: ₹22,180 crore (23%)

Quarterly Activity:

  • Sanctions: ₹3,380 crore (Q1 FY27) vs ₹11,740 crore (Q1 FY26)
  • Disbursements: ₹6,556 crore (Q1 FY27) vs ₹6,980 crore (Q1 FY26)

Borrowing Profile

Outstanding Borrowings (₹ Crores as of 30 June 2026): ₹79,002 crore

Domestic Borrowings (86% share): ₹67,673 crore

  • Bonds: ₹33,179 crore
  • Loans from Bank/FII/CC Limit & others: ₹34,494 crore

Foreign Borrowings (14% share): ₹11,329 crore

  • Hedged: ₹9,389 crore (83% of foreign borrowings)
  • Un-Hedged: ₹1,940 crore

Borrowings Raised during Q1 FY27: ₹4,991 crore

Asset Quality

Non-Performing Assets (₹ Crores):

  • Gross NPAs: ₹3,568 crore (3.76% of loan book)
  • Provision for Impairment: ₹2,434 crore
  • Net NPAs: ₹1,134 crore (1.23% of loan book)

NPA Trend:

  • Gross NPA%: 3.76% (30 June 2026) vs 4.13% (30 June 2025)
  • Net NPA%: 1.23% (30 June 2026) vs 2.06% (30 June 2025)

*Note: Includes impact from one borrower shifted from stage II to NPA due to AP High Court Order dated 02.07.2025 relating to FY 2019-20.

Shareholding Pattern

As on 30 June 2026:

  • President of India (GOI): 71.76%
  • Resident Individuals: 21.98%
  • Insurance Companies: 2.28%
  • FIIs & FPIs: 2.48%
  • Mutual Funds: 0.11%
  • Non Resident Individuals: 0.47%
  • Others: 0.92%

Major Institutional Holders:

  • Life Insurance Corporation Of India: 2.21%
  • Vanguard Total International Stock Index Fund: 0.41%
  • Vanguard Emerging Markets Stock Index Fund: 0.39%
  • Government Pension Fund Global: 0.21%

ESG Initiatives

IREDA has adopted a comprehensive ESG Policy effective 25 March 2026, approved by the Board of Directors. The company conducts Environment & Social (E&S) screening of all projects and categorizes them based on impact assessment. IREDA is fully compliant with SEBI's ESG disclosure norms and conducts BRSR reporting with reasonable assurance from independent agency. The company has conducted ESG Awareness Sessions for BoDs, KMPs, Employees, and Value Chain Partners.

Credit Ratings

  • Domestic: AAA (Stable) from ICRA, CARE, India Ratings, Brickwork, Acuite
  • International: BBB (Stable) by S&P Global
  • Short-Term: A-2 Stable

Corporate Status

  • Awarded Data Centre Excellence Award 2026
  • Awarded Silver at the Green Urja Awards for Excellence in Women in Green Energy & Energy Efficiency
  • Rated 'Excellent' as per MoU with MNRE for FY21, FY22, FY23, FY24 & FY25