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Indian Renewable Energy Development Agency
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Indian Renewable Energy Development Agency Share price and Fundamental Analysis
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Indian Renewable Energy Development Agency Management and History
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Company History
Indian Renewable Energy Development Agency Limited (IREDA) was incorporated on March 11, 1987 as a public limited company and has obtained certificate of commencement of business dated March 21, 1987. The Company was notified as a public financial institution on October 17, 1995, by the Department of Company Affairs, Ministry of Finance, GoI. Further, the Reserve Bank of India granted a certificate of registration to the Company on January 23, 2008, permitting to carry on the business of Non-Banking Financial Company without accepting public deposits.
IREDA is a domestic financial institution with more than 30 years of experience in the Indian renewable energy sector. The Company provides financial assistance to renewable energy projects, companies and manufacturers in India for power generation, equipment supply and fuel source projects including wind power, solar power, hydro power, biomass, co-generation and waste to energy as well as energy efficiency and conservation. The Company provides comprehensive suite of financial products and services includes various fund-based financial products including long-term and short-term project and manufacturing loans, take out financing, bridge loans and bill discounting, and non-fund based assistance, like performance guarantees, letters of comfort, letters of undertaking and refinancing schemes.
IREDA is currently a 100% Government of India ('GoI') owned enterprise under the administrative control of the Ministry of New and Renewable Energy (the 'MNRE). The Company is a 'Public Financial Institution' (a 'PFI') under section 2(72) of the Companies Act, 2013 and is registered as a non-banking financial company (a 'NBFC') with the Reserve Bank of India (the 'RBI'). The Company believes that its classification as a PFI enhances its ability to raise funds on a cost-competitive basis (including through the issuance of various types of bonds that offer certain tax benefits to the bondholders). The company also was conferred with the Mini Ratna (Category 1) status in June 2015 by the Department of Public Enterprises.
The Company was established as an integral part of, and have played a strategic role in, the GoI's initiatives for the promotion and development of the renewable energy sector in India. It has been involved in the development and implementation of various policies and structural and procedural reforms in the renewable energy sector. Under the IREDA-NCEF Refinancing Scheme, the company utilizes funds received from the National Clean Energy Fund ('NCEF') to refinance renewable energy projects for bio-mass (up to 10MW) and small hydro (up to 5MW). We have also been involved in various GoI programs for the development of renewable energy sector including the Wind GBI Scheme, the Solar GBI Scheme and the Solar Water Heating System Capital Subsidy Scheme.
The Company's primary sources of funds include domestic and foreign borrowings, internal resources and Government of India guarantees and support. In September 2017, the company issued Rs. 19,500 million of green rupee-denominated bonds in the international markets (with proceeds received on October 10, 2017). In March 2017, the company issued Rs. 7,000 million of green energy bonds in the domestic market. Both issues were in accordance with its Green Bond Framework which meets requirements of the Climate Bonds Standard Version 2.0 issued by the Climate Bond Initiative (Green Bonds) and also adheres to the Green Bond Principles, 2015, issued by the International Capital Markets Association (ICMA). The international funding sources also includes loans from the World Bank, the Asian Development Bank, Kreditanstant fur Wiederaufbau, Japan International Cooperation Agency European Investment Bank, Agence Francaise Development and Nordic Investment Bank.
In addition to the financial products and services, the company has also set up its own 50 MW Solar Photovoltaic Project in 200 MW Kasaragod Solar Park in the state of Kerala, on which it has spent Rs. 2,939.85 million through September 30, 2017. The project was commissioned in September 2017 and has begun generating power which is being injected into the Kerala State Electricity Board grid. The project began generating revenue in September 2017.
Indian Renewable Energy Development Agency Share Price
Indian Renewable Energy Development Agency share price reflects investor sentiment toward the company and is impacted by various factors such as financial performance, market trends, and economic conditions. Share price is an indicator which shows the current value of the company's shares at which buyers or sellers can transact.
Indian Renewable Energy Development Agency Market Cap
Market capitalization of Indian Renewable Energy Development Agency indicates the total value of its outstanding shares. Marketcap is calculated by multiplying share price and outstanding shares of the company. It is a helpful metric for assessing the company's size and market Valuation. It also helps investors understand how Indian Renewable Energy Development Agency is valued compared to its competitors.
Indian Renewable Energy Development Agency PE Ratio
Indian Renewable Energy Development Agency PE ratio helps investors understand what is the market value of each stock compared to Indian Renewable Energy Development Agency 's earnings. A PE ratio higher than the average industry PE could indicate an overvaluation of the stock, whereas a lower PE compared to the average industry PE could indicate an undervaluation.
Indian Renewable Energy Development Agency PEG Ratio
The PEG ratio of Indian Renewable Energy Development Agency evaluates its PE ratio in relation to its growth rate. A PEG ratio of 1 indicates a fair value, a PEG ratio of less than 1 indicates undervaluation, and a PEG ratio of more than 1 indicates overvaluation.
Indian Renewable Energy Development Agency ROE (Return on Equity)
Return on Equity (ROE) measures how effectively Indian Renewable Energy Development Agency generates profit from shareholders' equity. A higher ROE of more than 20% indicates better financial performance in terms of profitability.
Indian Renewable Energy Development Agency ROCE (Return on Capital Employed)
Return on Capital Employed (ROCE) evaluates the profitability of Indian Renewable Energy Development Agency in relation to its capital employed. In simple terms, ROCE provides insight to investors as to how well the company is utilizing the capital deployed. A high ROCE of more than 20% shows that the business is making profitable use of its capital.
Indian Renewable Energy Development Agency Total Debt
Total debt of Indian Renewable Energy Development Agency shows how much the company owes to either banks or individual creditors. In simple terms, this is the amount the company has to repay. Total debt can be a very useful metric to show the financial health of the company. Total debt more than equity is considered to be a bad sign.
Indian Renewable Energy Development Agency Debt to Equity Ratio
The Debt-to-Equity (DE) ratio of Indian Renewable Energy Development Agency compares its total debt to shareholders' equity. A higher Debt to Equity ratio could indicate higher financial risk, while a lower ratio suggests that the company is managing its debt efficiently.
Indian Renewable Energy Development Agency CAGR (Compound Annual Growth Rate)
CAGR shows the consistent growth rate of Indian Renewable Energy Development Agency over a specific period, whether it is over a month, a year, or 10 years. It is a key metric to evaluate the company’s long-term growth potential. Main metrics for which CAGR is calculated are net sales, net profit, operating profit, and stock returns.
Indian Renewable Energy Development Agency Technical Analysis
Technical analysis of Indian Renewable Energy Development Agency helps investors get an insight into when they can enter or exit the stock. Key components of Indian Renewable Energy Development Agency Technical Analysis include:
Support Levels (S1, S2, S3)
There are usually multiple support levels, but the main support levels for a stock are S1, S2, S3. Support levels indicate price points where stock might get support from buyers, helping the stock stop falling and rise.
Resistance Levels (R1, R2, R3)
There are usually multiple resistance levels, but the main resistance levels for a stock are R1, R2, R3. Resistance levels represent price points where Indian Renewable Energy Development Agency shares often struggle to rise above due to selling pressure.
Indian Renewable Energy Development Agency Dividends
Dividends refer to the portion of the company’s profits distributed to its shareholders. Dividends are typically paid out in cash and reflect Indian Renewable Energy Development Agency ’s financial health and profitability.
Indian Renewable Energy Development Agency Bonus Shares
Bonus shares are usually given by companies to make the stock more affordable, increase liquidity, boost investor confidence, and more.
Indian Renewable Energy Development Agency Stock Split
Stock split increases the number of its outstanding shares by dividing each existing share into multiple shares. When the company offers a stock split, the face value of the stock reduces in the same proportion as the split ratio.
Indian Renewable Energy Development Agency Financials
The financials of Indian Renewable Energy Development Agency provide a complete view to investors about its net sales, net profit, operating profits, expenses, and overall financial health. Investors can analyze financial data to assess the company’s stability and also understand how the company has been growing financially.
Indian Renewable Energy Development Agency Profit and Loss Statements
The profit and loss statement of Indian Renewable Energy Development Agency highlights its net sales, net profit, total expenditure, and operating profits in the current financial year. This Profit and Loss statement is crucial for evaluating the profitability and financial stability of Indian Renewable Energy Development Agency .
Indian Renewable Energy Development Agency Balance Sheet
The balance sheet presents a snapshot of Indian Renewable Energy Development Agency ’s assets, liabilities, and equity of shareholders, providing insights into the financials of the company.
Indian Renewable Energy Development Agency Cashflow Statements
Cashflow statements track the company's cash inflows and outflows over a period. It is an essential tool for understanding how well the company manages its liquidity and finances.
Indian Renewable Energy Development Agency Net Interest Margin (NIM)
Indian Renewable Energy Development Agency Net Interest Margin (NIM) tells about the profitability earned by all NBFCs and financial institutions. It represents the income generated by the bank from the difference between the interest earned on loans and the interest paid on public deposits. Net Interest Margin (NIM) is a metric that monitors the profitability generated from a bank's lending activities.
Indian Renewable Energy Development Agency Non-Performing Assets (NPA) Ratio
Non-Performing Assets (NPA) indicate the ratio of a bank's loans that are classified as non-performing. A lower NPA ratio reflects stronger asset quality and more effective risk management.
Indian Renewable Energy Development Agency Capital Adequacy Ratio (CAR)
Capital Adequacy Ratio (CAR) is a metric to measure the bank's ability to absorb losses and still remain financially stable. A higher CAR shows that the bank is financially sound and can absorb potential losses.
Indian Renewable Energy Development Agency Gross NPA
Gross NPA is the percentage of total non-performing loans before provisioning, while net NPA is the percentage after provisioning. Lower gross and net NPA ratios indicate better loan quality.
Indian Renewable Energy Development Agency Net NPA Ratio
Net NPA is the actual losses a bank has incurred due to NPA accounts. Lower the NPA, better the banks can maintain stable income from interest on loans.
Indian Renewable Energy Development Agency CASA Ratio
CASA ratio tells how much of a bank's total deposits are in both current and savings accounts.
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