IREDA Share Price | Analysis & Targets 2024-2030

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IREDA Share Price Analysis

(Image Source: Canva)

Table of Contents

“Curious about IREDA’s stock performance? Discover key factors influencing the IREDA share price in our detailed report with our essential guide to navigating the renewable energy market.”

IREDA Logo COMPANY
Name:
IREDA-Indian Renewable Energy Development Agency
Founded :
1987
Owner:
Government of India
Key people :
Pradip Kumar Das-(Chairman & Managing Director)
Bijay Kumar Mohanty-( Director Finance & CFO)
Headoffice:
India Habitat Centre, East Court, Core-4A, 1st Floor,
Lodhi Road, New Delhi, - 11 00 03
Market Cap:
Rs 45.26TCr
Total Income:
Rs 3,483 Cr (FY23)
Net Income:
Rs 864 Cr (FY23)
Website:
www.Ireda.in

(Source: Wikipedia)

About IREDA

The Indian Renewable Energy Development Agency Limited (IREDA) is a government enterprise categorized as a Mini Ratna (Category – I). It operates under the administrative jurisdiction of the Ministry of New and Renewable Energy (MNRE) in India. IREDA is a government-owned company that was established in 1987 as a non-banking financial company (NBFC).

Its main purpose is to promote, develop, and provide financial assistance for projects related to new and renewable sources of energy, as well as energy efficiency and conservation. The company’s motto is “ENERGY FOR EVER.”

Objectives of IREDA

  • To fund projects and systems that generate power and energy from renewable sources and conserve energy through energy efficiency.
  • To remain a top provider of efficient and effective renewable energy and energy efficiency/conservation financing.
  • IREDA aims to expand its renewable energy sector share through innovative funding.
  • Increasing customer service efficiency by improving systems, processes, and resources.
  • To compete through client happiness.

IREDA Peers & Comparison

STOCK PE Ratio PB Ratio Dividend Yield
IREDA
52.43
7.64
-
IRFC
31.82
4.43
0.97%
PFC
9.03
1.28
2.44%
REC Ltd
11.36
2.18
2.62%

What next for IREDA

In the future, IREDA is anticipated to receive some inflows as a result of the recent MSCI restructuring.

According to experts, IREDA is expected to receive inflows amounting to US$17 million.

The company has been included in the MSCI Small Cap index during the February review, and the impact is expected to occur after February 29, 2024.

The Reserve Bank of India (RBI) has granted approval for the establishment of a wholly-owned subsidiary by the company in the International Financial Services Centre (IFSC) located in GIFT City, Gujarat.

IREDA has identified 7 areas of focus for potential expansion. This is consistent with the Government of India’s objective. The important areas include the following:

  • Production of green hydrogen and its byproducts, including the manufacturing process.
  • Power plants-pumped hydro storage
  • Wind Offshore
  • The battery storage value chain combines the various stages involved in the production, storage, and recycling of batteries.
  • Solar power-rooftop.
  • Green Energy Corridor
  • Green Mobility Value Chain (Charging Infrastructure and Fuel Cells).

Additionally, IREDA is committed to optimizing borrowing expenses. At present, it benefits from a reduced borrowing cost.

IREDA Share price targets -2024, 2025, 2026, 2027, 2028, 2029, 2030

YEAR Minimum Price (Rs) Maximum Price (Rs)
2024
Rs 160
Rs 250
2025
Rs 260
Rs 350
2026
Rs 355
Rs 470
2027
Rs 475
Rs 500
2028
Rs 505
Rs 640
2029
Rs 645
Rs 720
2030
Rs 725
Rs 880

IREDA Shareholding Pattern

As of today, February 2024, the promoters of the company maintained a 75.00% ownership stake in IREDA without any pledged shares.

Institutional holdings in IREDA increased by 6.25% on average (FII-1.88% and DII-4.37%).

IREDA Shareholding
IREDA Shareholding Pattern

IREDA Financials

Annual Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Sales
2,020
2,367
2,613
2,859
3,481
Other Income
2
5
44
14
1
Total Income
2,022
2,372
2,658
2,874
3,483
Total Expenditure
528
672
518
453
255
EBIT
1,494
1,700
2,139
2,421
3,227
Interest
1,182
1,459
1,570
1,587
2,088
Tax
67
26
223
200
274
Net Profit
244
214
346
633
864
IREDA Income Statement-Annually
IREDA Income Statement-Annually

(Source: IREDA/Moneycontrol)

Conclusion

IREDA is well-positioned in India’s changing energy market thanks to the strong support of the government and its strategic focus on renewable energy finance. IREDA share price is currently benefiting from the Budget 2024 proposal, which is favorable for green or renewable energy industries, as stated by stock market experts. The stock is trading at higher multiples and has favorable long-term valuations. According to reports, it is predicted that the IREDA share price will continue to rise in the near future.

Disclaimer: This article about finance and investments contains material solely for educational purposes. It does not constitute investment advice. While we try to be accurate, we cannot guarantee that the information is appropriate or full. It is recommended that readers get advice from a licensed financial expert prior to making any investing decisions.

Videos for IREDA Share Price-Hindi

Check out the latest stock price analysis with experts.

Check out the in-depth discussion about the future of the company with IREDA management (Chairman and Managing Director) Pradeep Kumar Das.

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