Indian Renewable Energy Development Agency Limited (IREDA) has announced its financial results for the first quarter (Q1) of financial year (FY) 2025-26, ending June 30, 2025. On a standalone basis, the company recorded a total income of Rs 19.59 billion, up from Rs 15.10 billion in Q1 FY 2024-25. Consolidated profit after tax for Q1 FY 2025-26 was Rs 246.88 crore, compared to Rs 383.70 crore in Q1 FY 2024-25. The consolidated loan asset book reached Rs 798.51 billion as of June 30, 2025, from Rs 631.04 billion at the end of Q1 FY 2024-25. Net worth rose to Rs 124.01 billion from Rs 91.10 billion. The company’s capital-to-risk weighted assets ratio improved to 19.58 per cent, up from 15.26 per cent year-on-year (YoY), following regulatory changes in asset risk weight calculation.
Gross non-performing assets (NPA) ratio increased to 4.13 per cent, up from 2.19 per cent YoY, while net NPA ratio rose to 2.06 per cent from 0.95 per cent in Q1 FY 2025-26. IREDA’s total financial indebtedness stood at Rs 664.35 billion as of June 30, 2025. During Q1 FY 2025-26, IREDA issued non-convertible debentures worth Rs 15 billion. Cumulative impairment allowance as of June 30, 2025, stood at Rs 22.82 billion. No defaults were reported on loans, debt securities, or subordinated liabilities. Additionally, the company flagged fraudulent activities by certain borrowers, including Hetero Renewable Energy Private Limited and Gensol Engineering Limited, and initiated recovery and legal proceedings against them.
The company maintains a 100 per cent security cover on its secured non-convertible debt securities, backed by receivables. It operates primarily in financing renewable energy and energy efficiency projects across India and has no reportable business segments under Ind AS 108 Operating Segments. IREDA also incorporated a wholly owned subsidiary in Gujarat International Finance Tec-City, operational from March 2025.
