IREDA sets FY26 revenue target, projects 22% topline growth for the year

Shares of Indian Renewable Energy Development Agency (IREDA) Ltd., announced on Monday, August 25, that it has signed a performance-based Memorandum of Understanding (MoU) with the Ministry of New and Renewable Energy (MNRE) for setting strategic targets for the full financial year.Based on the MoU, the government has set a revenue target of ₹8,200 for the current financial year for IREDA. The state-run renewable energy financier reported a revenue of 6,743 crore during the previous financial year. The new target implies a 22% growth in IREDA’s topline.

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, according to IREDA’s exchange filing.

However, IREDA has not shared or specified the targets for the other parameters.For the June quarter, IREDA’s revenue increased by 29% from last year to 1,947 crore. The figure is 23% of the company’s full-year guidance.

During the June quarter, IREDA’s gross NPA worsened to 4.13% from 2.45% in the March quarter, while net NPA deterioration to 2.05% from 1.35% in March.

Shares of IREDA are off the highs of the day, currently trading 0.8% higher at ₹148.69. The stock is down 3% in the last one month and has corrected over 50% from its all-time high of ₹310.