Indian Renewable Energy Development Agency Limited has informed the Exchange regarding 'Audited Consolidated Financials for the period ended 31122025'.

Revenue growth above 20%Emphasis of matterResults restatedNegative operating cash flowProfit growth above 25%Results View source PDF Explain this filing

IREDA · price

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AI summary

IREDA, a Government of India Navratna NBFC financing renewable energy projects, reported consolidated revenue from operations of ₹6,135 crore for the nine months ended 31 December 2025, up about 27% from ₹4,838 crore in the same period last year, driven by interest income rising to ₹6,042 crore from ₹4,714 crore. Profit after tax grew about 15% to ₹1,381 crore (from ₹1,197 crore), while EPS rose to ₹4.97 from ₹4.45. The loan book expanded sharply to ₹85,989 crore from ₹68,046 crore, with total assets reaching ₹92,200 crore. However, finance cost jumped to ₹3,664 crore from ₹3,037 crore, and impairment on financial instruments surged to ₹562 crore from ₹108 crore, which limited profit growth. Net cash flow from operations was deeply negative at (₹9,399 crore), which is normal for a growing NBFC disbursing loans. The auditor flagged two Emphasis of Matter items: (1) ₹400 crore of loans classified as Stage II/Standard instead of Stage III/NPA due to High Court interim orders, and (2) restatement of CRAR as at 31 December 2024 from 19.63% to 15.52% after the RBI-directed change in risk weights for renewable energy infrastructure assets from 50% to 100%.

Likely market impact

Strong topline growth and continued loan book expansion signal healthy business momentum, but the sharp jump in impairment provisions and lower-than-expected PAT growth may weigh on near-term sentiment. The restated CRAR at 15.52% remains above regulatory thresholds but is materially lower than previously reported, and the ₹400 crore NPA-reclassification issue linked to court orders is a key watch item for asset quality.

By the numbersStandalone · Q3 FY26 vs Q3 FY25

	Q3 FY26	Q3 FY25	Change
Revenue	₹2,130 Cr	₹1,698 Cr	+25.4%
Profit after tax	₹584.9 Cr	₹425.4 Cr	+37.5%

From the company's XBRL filing, not from the text above. Operating profit and EBITDA margin are not shown for banks and lenders, whose other income is their business.