Indian Renewable Energy Development Agency Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2025.
IREDA · price
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Awaiting price reaction for this filing.
IREDA reported Q1 FY26 standalone total income of ₹1,959.53 Cr, up ~30% YoY from ₹1,510.70 Cr in Q1 FY25, driven by higher interest income of ₹1,908.79 Cr. However, net profit fell sharply to ₹246.68 Cr from ₹383.70 Cr YoY, a ~36% decline, mainly due to a sharp jump in impairment on financial instruments to ₹362.61 Cr (vs ₹129.44 Cr). EPS dropped to ₹0.91 from ₹1.43, and operating margin compressed to 15.02% from 31.47%. The company raised ₹2,005.90 Cr via QIP in June 2025, reducing government holding to 71.76%. Two fraud/NPA cases were flagged: Hetero Renewable Energy (₹7.80 Cr outstanding) and Gensol Engineering (₹510+ Cr), both downgraded to NPA. A borrower with ₹783.34 Cr was reclassified to NPA after a court stay was vacated. CRAR was restated to 15.26% (from 19.52% reported earlier) due to 100% risk weight on commissioned renewable energy assets.
Mixed signals for shareholders — strong topline growth is offset by steep profit decline and rising NPAs/fraud provisions, which may pressure near-term stock sentiment. The QIP strengthens capital base (net worth up to ₹12,402 Cr) and improves debt-equity to 5.35x, but margin compression and asset quality deterioration are key concerns to watch.