 "MNRE Secretary Santosh Kumar Sarangi and Ireda Chairman and Managing Director Pradip Kumar Das")
The Indian Renewable Energy Development Agency (Ireda) on Monday signed a performance-based Memorandum of Understanding (MoU) with the Ministry of New and Renewable Energy (MNRE), setting a revenue from operations target of ₹8,200 crore for the financial year 2025–26 (FY26).
The MoU was signed in New Delhi by MNRE Secretary Santosh Kumar Sarangi and Ireda Chairman and Managing Director Pradip Kumar Das.
In FY25, Ireda achieved revenue from operations of ₹6,743.32 crore, surpassing its earlier target of ₹5,957 crore, the company said in a filing to the BSE.
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Key performance indicators
The MoU also outlines performance benchmarks such as return on net worth, return on capital employed, NPA to total loans, asset turnover ratio, and Ebitda.
Pradip Kumar Das said, “With the hope for continuing excellent performance for this year also, we are committed to sustaining our track record of excellence.”
He noted that Ireda has earned an “Excellent” rating in MoU performance for four consecutive years since FY2020–21. For FY24, the agency emerged as the top performer among non-banking financial companies (NBFCs) and power sector entities, and ranked among the top four central public sector enterprises (CPSEs) overall.
Quarterly results
Ireda posted a consolidated net profit of ₹246.88 crore for the first quarter (Q1) of FY26, down 35.6 per cent from ₹383.70 crore in the same period last year. On a sequential basis, net profit dropped over 50 per cent from ₹501.79 crore in Q4FY25.
Despite the fall in profit, revenue from operations rose 29 per cent year-on-year to ₹1,947.60 crore in Q1FY26, compared with ₹1,510.27 crore in Q1FY25. Sequentially, revenue increased 2.3 per cent from ₹1,904.15 crore in Q4FY25.
Financing costs rose to ₹1,218 crore in the quarter from ₹975 crore a year earlier.
Ireda’s net worth climbed to ₹12,042 crore at the end of Q1FY26, up from ₹9,110 crore at the close of FY25. The loan book also expanded to ₹79,941 crore, compared with ₹63,207 crore year-on-year.
At 3:06 pm on Monday, Ireda shares were trading flat at ?147.6 apiece on the BSE.
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