IREDA's revenue target fixed at Rs 8,200 crore for for 2025-26

New Delhi, Aug 25 (IANS) Navratna public sector undertaking Indian Renewable Energy Development Agency Limited (IREDA) on Monday signed a performance-based Memorandum of Understanding (MoU) with the Ministry of New and Renewable Energy (MNRE) to achieve a revenue from operations of Rs 8,200 crore during the financial year 2025-26.

The IREDA had exceeded its Revenue from Operations target in FY 2024-25, achieving Rs 6,743.32 crore against the target of Rs 5,957 crore.

The MoU also includes key performance parameters such as Return on Net Worth, Return on Capital Employed, NPA to Total Loans, Asset Turnover Ratio, and EBTDA, among other targets.

The MoU was signed by MNRE Secretary Santosh Kumar Sarangi and IREDA Chairman and Managing Director Pradip Kumar Das at the Atal Akshay Urja Bhawan in the national capital, in the presence of senior officials.

Expressing confidence in the company's growth trajectory, the IREDA CMD said: "With the hope for continuing excellent performance for this year also, we are committed to sustaining our track record of excellence. IREDA has earned an 'Excellent' rating in MoU performance for four consecutive years since FY 2020-21. For FY 2023-24 MoU rating, the company emerged as the top performer in the NBFC and power sector and among the top four Central public sector enterprises (CPSEs) across sectors, as per a list of 84 CPSEs issued by the Department of Public Enterprises."

For the April-June quarter (Q1 FY26), the IREDA reported a revenue from operations of approximately Rs 1,947 crore, a 29 per cent year-on-year increase, while its consolidated net profit declined by 35.6 per cent to about Rs 246.88 crore, primarily due to a rise in impairment charges. The company also saw significant growth in its loan book and disbursements, with loan sanctions rising 29 per cent to Rs 11,740 crore and disbursements up 31 per cent to Rs 6,981 crore in the same period.

The IREDA’s outstanding loan book has increased by 27 per cent to Rs 79,960 crore during the first quarter of the current financial year.

--IANS

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