IREDA, the Indian Renewable Energy Development Agency, stands as a key player in the public sector dedicated to fostering and funding various renewable energy projects across India. Established in 1987, it is government-owned and overseen by the Ministry of New and Renewable Energy. The agency’s primary goal is to significantly contribute to the nation’s sustainable development by facilitating the growth of renewable energy infrastructure. IREDA actively engages in financing initiatives and promoting the renewable energy sector through tailored financial products, technical support, and knowledge dissemination. Its steadfast commitment to advancing sustainable and clean energy solutions has positioned it as a central institution in India’s renewable energy landscape.
Company has delivered good profit growth of 33.9% CAGR over last 5 years
CONS
Stock is trading at 5.68 times its book value
Though the company is reporting repeated profits, it is not paying out dividend
Company has low interest coverage ratio.
Company might be capitalizing the interest cost
Peer comparison
S.No.
Name
CMP Rs.
P/E
Mar Cap Rs.Cr.
Div Yld %
NP Qtr Rs.Cr.
Qtr Profit Var %
Sales Qtr Rs.Cr.
Qtr Sales Var %
ROCE %
1.
I R F C
173.60
35.38
226869.26
0.86
1717.32
33.62
6473.56
4.51
5.73
2.
Power Fin. Corpn.
483.55
8.08
159576.42
2.27
7556.43
20.26
24141.40
20.34
9.85
3.
REC Ltd
496.80
9.25
130818.57
2.54
4079.09
33.07
12677.18
23.76
10.05
4.
Indian Renewable
180.85
38.80
48608.22
0.00
337.38
33.03
1391.25
34.29
9.30
5.
IFCI
57.60
145.83
15054.28
0.00
157.33
154.61
605.42
46.36
10.25
6.
Tour. Fin. Corp.
173.40
17.62
1605.61
1.38
20.40
-18.04
57.62
-4.03
10.49
7.
Guj. State Fin.
26.77
238.55
0.00
-29.57
3.33
0.62
1140.00
Compounded Sales Growth
10 Years:
%
5 Years:
20%
3 Years:
23%
TTM:
43%
Compounded Profit Growth
10 Years:
%
5 Years:
34%
3 Years:
53%
TTM:
45%
Stock Price CAGR
10 Years:
%
5 Years:
%
3 Years:
%
1 Year:
%
Return on Equity
10 Years:
%
5 Years:
15%
3 Years:
16%
Last Year:
17%
Shareholding Pattern
Holdings
Dec 2023
Mar 2024
Promoters +
75.00%
75.00%
FIIs +
1.88%
1.36%
DIIs +
4.37%
0.94%
Public +
18.75%
22.70%
IREDA Share Price Target 2024, 2025, 2026, 2030
YEAR
IREDA 1ST SHARE PRICE TARGETS (₹)
IREDA 2ND SHARE PRICE TARGETS (₹)
2024
₹210
₹240
2025
₹250
₹270
2026
₹280
₹310
2030
₹390
₹410
Do your own research: Before investing in Adani Power, it is important to do your own research and understand the company’s financial performance and its prospects for the future.
Don’t invest more than you can afford to lose: The stock market is volatile and there are no guarantees. Don’t invest more money in Adani Power than you can afford to lose.
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