Indian Ren. Energy

₹163.1 -1.7 | 1%

WEBSITE BSE:544026 NSE : IREDA 13 May, 16:12

Market Cap ₹43837 Cr.

Stock P/E 36.3

P/B 5.1

Current Price ₹163.1

Book Value ₹ 31.8

Face Value 10

52W High ₹215

Dividend Yield 0%

52W Low ₹ 50

Edit Ratio

Indian Ren. Energy Research see more...

IREDA: A Deep Dive into India's Renewable Energy Financing Gian

Overview Inc. Year: 1987Industry: Finance - NBFC

Indian Renewable Energy Development Agency Ltd (IREDA) is a leading financial institution in India dedicated to promoting and facilitating renewable energy projects. IREDA plays a pivotal role in fostering sustainable energy initiatives by providing financial assistance, project development, and technical expertise. The company focuses on supporting a diverse range of clean energy sources, including wind, solar, bioenergy, and hydropower. As a key player in the renewable energy sector, IREDA contributes significantly to India's transition to a greener and more sustainable energy landscape. Through strategic investments and partnerships, IREDA continues to drive innovation and growth in the renewable energy sector, aligning with India's commitment to reducing carbon emissions and promoting environmentally friendly energy solutions.

Indian Ren. Energy Share Price

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Peer Comparison

Indian Ren. Energy Quarterly Results

#(Fig in Cr.)	Dec 2022	Mar 2023	Dec 2023	Mar 2024
Net Sales	869	1036	1253	1391
Other Income	0	0	0	10
Total Income	869	1036	1253	1402
Total Expenditure	105	104	99	66
Operating Profit	764	932	1154	1336
Interest	524	638	760	847
Depreciation	6	6	8	9
Exceptional Income / Expenses	0	0	0	0
Profit Before Tax	235	288	386	480
Provision for Tax	34	35	51	142
Profit After Tax	201	254	336	337
Adjustments	-0	-0	0	0
Profit After Adjustments	201	254	336	337
Adjusted Earnings Per Share	0.9	1.1	1.2	1.3

Indian Ren. Energy Profit & Loss

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	719	994	1118	1174	1479	1806	2020	2367	2655	2860	3482	4549
Other Income	10	5	1	1	4	30	3	5	3	14	1	10
Total Income	730	999	1118	1175	1483	1836	2022	2372	2658	2874	3483	4560
Total Expenditure	91	166	88	84	212	270	431	649	495	430	232	374
Operating Profit	638	832	1030	1090	1271	1566	1592	1723	2162	2444	3251	4186
Interest	381	488	646	668	726	1006	1183	1459	1570	1587	2088	2769
Depreciation	4	3	5	4	7	21	23	23	23	23	23	29
Exceptional Income / Expenses	-3	-0	-0	0	-10	0	-74	0	0	0	0	0
Profit Before Tax	251	340	379	418	528	539	311	241	570	834	1139	1389
Provision for Tax	48	100	107	120	163	169	61	27	223	200	275	262
Profit After Tax	203	241	272	298	365	370	250	215	346	634	865	1128
Adjustments	0	0	0	0	0	0	0	-2	0	0	0	0
Profit After Adjustments	203	241	272	298	365	370	250	213	346	634	865	1128
Adjusted Earnings Per Share	2.9	3.2	3.5	3.8	4.7	4.7	3.2	2.7	4.4	2.8	3.8	4.5

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	22%	14%	14%	17%
Operating Profit CAGR	33%	24%	16%	18%
PAT CAGR	36%	59%	19%	16%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	NA%	NA%	NA%	NA%
ROE Average	15%	14%	12%	13%
ROCE Average	8%	8%	8%	9%

Indian Ren. Energy Balance Sheet

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	1688	2033	2179	2296	2510	2413	2584	2521	2995	5268	5935
Minority's Interest	0	0	0	0	0	0	0	0	0	0	0
Borrowings	4917	6331	7130	9616	12631	14993	18753	21854	24000	27613	40165
Other Non-Current Liabilities	-48	-8	275	293	1879	2584	1901	2322	2110	2450	2513
Total Current Liabilities	559	950	641	934	1630	1166	2136	1881	977	1055	1533
Total Liabilities	7115	9306	10224	13139	18650	21156	25373	28577	30082	36386	50146
Fixed Assets	40	37	33	29	318	314	303	282	266	248	229
Other Non-Current Assets	5773	7599	7883	8956	12030	18177	23702	25763	28729	35156	48235
Total Current Assets	1302	1670	2308	4154	6302	2666	1367	2532	1087	982	1682
Total Assets	7115	9306	10224	13139	18650	21156	25373	28577	30082	36386	50146

Indian Ren. Energy Cash Flow

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	601	104	491	822	980	2061	1876	557	988	221	131
Cash Flow from Operating Activities	-1461	-1367	-389	-2134	-1776	-1853	-5018	-1709	-3206	-5254	-12343
Cash Flow from Investing Activities	-1	-0	-2	-8	-154	-53	-37	-0	-2	-107	-17
Cash Flow from Financing Activities	965	1758	722	2301	3011	1708	3736	2141	2441	5271	12368
Net Cash Inflow / Outflow	-497	391	331	159	1081	-198	-1319	431	-767	-90	7
Closing Cash & Cash Equivalent	104	495	822	981	2061	1863	557	988	221	131	139

Indian Ren. Energy Ratios

#	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	2.9	3.23	3.47	3.8	4.65	4.72	3.19	2.73	4.42	2.77	3.78
CEPS(Rs)	2.95	3.27	3.54	3.85	4.75	4.99	3.48	3.03	4.7	2.87	3.89
DPS(Rs)	0.39	0.47	0.69	1.91	1.6	1.62	1.63	0	0	0	0
Book NAV/Share(Rs)	24.13	27.3	27.77	29.26	31.99	30.75	32.92	32.14	38.17	23.06	25.98
Core EBITDA Margin(%)	87.31	83.25	92.14	92.82	85.65	85.04	78.68	72.57	81.34	84.97	93.34
EBIT Margin(%)	87.78	83.34	91.69	92.5	84.79	85.51	73.97	71.82	80.6	84.66	92.7
Pre Tax Margin(%)	34.85	34.24	33.87	35.57	35.71	29.84	15.4	10.19	21.45	29.16	32.72
PAT Margin (%)	28.18	24.2	24.32	25.39	24.68	20.51	12.37	9.06	13.05	22.15	24.83
Cash Profit Margin (%)	28.72	24.53	24.81	25.75	25.17	21.69	13.53	10.03	13.9	22.96	25.51
ROA(%)	3.08	2.93	2.78	2.55	2.3	1.86	1.07	0.8	1.18	1.91	2
ROE(%)	12.88	12.93	12.91	13.32	15.19	15.05	10	8.41	12.56	15.33	15.44
ROCE(%)	10.5	10.76	11.13	9.91	9	9.37	7.71	7.44	8.33	8.09	8.17
Receivable days	0.33	0.04	0.13	0.12	0.32	2.46	2.2	0.43	0.42	0.48	0.49
Inventory Days	0	0	0	0	0	0	0	0	0	0	0
Payable days	0	0	0	0	0	0	0	0	0	0	0
PER(x)	0	0	0	0	0	0	0	0	0	0	0
Price/Book(x)	0	0	0	0	0	0	0	0	0	0	0
Dividend Yield(%)	0	0	0	0	0	0	0	0	0	0	0
EV/Net Sales(x)	7.65	7.04	6.41	7.1	7.23	7.41	9.15	8.9	9.11	10.27	11.92
EV/Core EBITDA(x)	8.62	8.42	6.96	7.64	8.41	8.54	11.61	12.22	11.18	12.02	12.76
Net Sales Growth(%)	38.38	38.21	12.48	5.03	26	22.1	11.81	17.22	12.14	7.73	21.75
EBIT Growth(%)	36.73	31.23	23.74	5.96	15.5	23.15	-3.29	13.82	25.85	13.15	33.32
PAT Growth(%)	17.04	18.69	13.05	9.61	22.47	1.49	-32.54	-14.15	61.46	82.88	36.48
EPS Growth(%)	7.01	11.51	7.29	9.61	22.47	1.49	-32.54	-14.15	61.46	-37.19	36.48
Debt/Equity(x)	2.91	3.33	3.41	4.36	5.2	6.21	7.26	8.67	8.01	5.24	6.77
Current Ratio(x)	2.33	1.76	3.6	4.45	3.87	2.29	0.64	1.35	1.11	0.93	1.1
Quick Ratio(x)	3.4	1.76	3.6	4.45	3.87	2.29	0.64	1.35	1.11	0.93	1.1
Interest Cover(x)	1.66	1.7	1.59	1.62	1.73	1.54	1.26	1.17	1.36	1.53	1.55
Total Debt/Mcap(x)	0	0	0	0	0	0	0	0	0	0	0

Indian Ren. Energy Shareholding Pattern

#	Sep 2013	Mar 2014	Sep 2015	Oct 2016	Sep 2017	Sep 2018	Dec 2023	Mar 2024
Promoter	0	100	100	100	100	100	75	75
FII	0	0	0	0	0	0	1.88	1.36
DII	100	0	0	0	0	0	4.37	0.94
Public	0	0	0	0	0	0	18.75	22.7
Others	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100

#	Sep 2013	Mar 2014	Sep 2015	Oct 2016	Sep 2017	Sep 2018	Dec 2023	Mar 2024
Promoter	0	0.74	0.78	0.78	0.78	78.46	201.58	201.58
FII	0	0	0	0	0	0	5.05	3.66
DII	0.74	0	0	0	0	0	11.74	2.52
Public	0	0	0	0	0	0	50.4	61.01
Others	0	0	0	0	0	0	0	0
Total	0.74	0.74	0.78	0.78	0.78	78.46	268.78	268.78

Pros

Cons

Company has a low return on equity of 14% over the last 3 years.
Stock is trading at 5.1 times its book value.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.