What Is the IREDA Share Price Today?
The latest verified completed NSE session ended at ₹108.26 on 15 October 2026.
By Dalal Street Investment Journal (DSIJ)
IREDA recorded ₹8,338.89 crore in FY26 income, ₹1,873 crore in profit and a ₹93,069 crore loan book. This article covers asset quality and renewable finance exposure.
Indian Renewable Energy Development Agency (IREDA), a Navratna government renewable energy financier, closed at ₹108.26 on the NSE on 15 October 2026.
| Key Metrics | IREDA |
|---|---|
| Share price (NSE close, 15 Oct 2026) | ₹108.26 |
| Market capitalisation | ₹30,413 crore |
| 52-week high | ₹158.70 |
| 52-week low | ₹103.41 |
| P/E ratio | 15.5x |
| P/B ratio | 2.2x |
| FY26 total income | ₹8,338.89 crore |
| FY26 PAT | ₹1,873 crore |
| Dividend yield | 1.26% |
(Sources: NSE close on StockAnalysis; Business Standard; Screener.)
IREDA traded near the bottom of its 52-week range (₹103.41 to ₹158.70). A lower price alone does not indicate undervaluation; instead, valuation is linked to the quality of lending, future credit costs, funding spreads, and the price-to-book multiple.
IREDA, established in 1987 and controlled by the Ministry of New and Renewable Energy, lends to renewable power and energy efficiency projects. As an NBFC, its primary income comes from interest on loans rather than product sales. Therefore, the portfolio mix below is a loan book split, not a segment revenue breakdown. IREDA has Navratna status and RBI recognition as an Infrastructure Finance Company (NBFC-IFC).
| FY26 Loan Book Segment | Share of Outstanding Loans |
|---|---|
| Solar | 26.28% |
| State utility loans | 22.76% |
| Wind | 14.41% |
| Manufacturing | 9.63% |
| Other financing categories | 26.92% |
(Source: IREDA website, sector-wise outstanding loan book as at 31 March 2026.)
Solar, state utility loans and wind together represented about 63% of the ₹93,069 crore in loans for FY26. This concentration affects credit performance, which depends on project execution, power offtake, and utility payment discipline.
| FY26 Business Indicator | ₹ Crore |
|---|---|
| Loan sanctions | 51,883 |
| Loan disbursements | 34,946 |
(Source: IREDA FY26 audited results release, 29 May 2026.)
IREDA finances a growing market: MNRE reported approximately 299.25 GW of installed renewable capacity, including large hydro, as of 30 September 2026. IBEF also highlights India’s 500 GW non-fossil power ambition by 2030. Sector expansion is linked to addressable demand; sanctioned projects are not automatically disbursed or profitable loans.
IREDA’s standalone total income increased from about ₹4,965 crore in FY24 to ₹8,338.89 crore in FY26 as its loan portfolio expanded. Profit also grew, while its financing margin declined from 35% to 29%, and gross NPA rose during FY26 as the loan book expanded.
| Financials | FY24 | FY25 | FY26 |
|---|---|---|---|
| Total income (₹ crore) | 4,965 | 6,754 | 8,339 |
| Income growth | 43% | 36% | 23% |
| Financing profit (₹ crore) | 1,716 | 2,142 | 2,382 |
| Financing margin | 35% | 32% | 29% |
| PAT (₹ crore) | 1,252 | 1,699 | 1,873 |
(Sources: IREDA FY24 to FY26 audited accounts; FY26 results release; Screener standalone P&L. Rounded to ₹ crore.)
For a lending NBFC, EBITDA margin is not an especially meaningful measure because interest expense is a core operating cost. This table therefore reports Screener’s financing profit and financing margin in place of manufacturing-style EBITDA. These metrics are not the same as net interest margin (NIM).
Indian Renewable Energy Development Agency Limited (IREDA) reported its Q2 FY27 financial results, demonstrating steady operational growth. Total income for the quarter reached ₹2,344.75 crore, up from ₹2,057.45 crore in Q2 FY26, primarily driven by higher interest income of ₹2,316.97 crore. Profit Before Tax (PBT) stood at ₹706.57 crore compared to ₹696.07 crore YoY, while total expenses were managed at ₹1,638.18 crore. The company continues to show robust performance in financing renewable energy projects.
At the 15 October reference price, IREDA’s trailing P/E was about 15.5x and P/B about 2.2x. FY26 borrowings of approximately ₹77,846 crore against ₹13,781 crore net worth imply around 5.65x debt to equity. Leverage is part of an NBFC’s business model; funding and liquidity risks are related factors.
| Key Ratio (FY26/TTM) | IREDA |
|---|---|
| P/E | 15.5x |
| P/B | 2.2x |
| ROE | 15.6% |
| ROCE | 8.69% |
| Debt to equity (FY26) | 5.65x |
| Dividend yield | 1.26% |
(Sources: Screener, IREDA FY26 audited balance sheet and 15 October NSE close. P/B and debt/equity derived; valuation ratios change daily.)
There is no single Finance sector average that represents renewable-focused project NBFCs. PFC and REC were around 5.5x and 5.1x P/E, respectively, and near 1x book value in mid-October. IREDA’s multiples are higher than those of PFC and REC; the difference is linked to a different growth and sector mix.
On a technical basis, the share price of IREDA has shown a pattern of lower highs and lower lows on a weekly time frame. A near-term support level has been noted at ₹102.
A resistance level has been noted at ₹132. A move beyond this level would represent a change from the current pattern of lower highs and lower lows.
As of October 16, IREDA is trading below its short term, medium term and long term moving averages on the daily chart. On the weekly chart, the stock is trading below its 10-week, 30-week and 100-week moving averages.
Government promoter ownership stayed at 71.76% across the four disclosed quarters through June 2026. FII ownership rose while DII ownership eased modestly. The September 2026 quarter distribution was not yet included in the verified source table, so the last four available quarters are shown.
| Holder Category | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|
| Promoters | 71.76% | 71.76% | 71.76% | 71.76% |
| FIIs | 1.92% | 2.07% | 2.14% | 2.48% |
| DIIs (including MFs) | 2.57% | 2.51% | 2.44% | 2.39% |
| Public & others | 23.75% | 23.67% | 23.65% | 23.35% |
(Source: Screener and ET Money shareholding records; DII includes mutual funds. Percentages rounded.)
Foreign ownership rose from 1.92% in September 2025 to 2.48% in June 2026, whereas total DII ownership declined from 2.57% to 2.39%. Shifts are modest and do not indicate future institutional demand. Government ownership may also change if IREDA raises additional equity.
Power Finance Corporation (PFC) and REC are listed infrastructure lender reference points; all three finance long-life energy assets. However, PFC and REC have broader power sector exposures, different funding franchises, credit mixes and dividend histories.
| Company | Business Focus | P/E | P/B |
|---|---|---|---|
| IREDA | Renewable project finance | 15.5x | 2.20x |
| PFC | Power/infrastructure lending | 5.54x | 1.03x |
| REC | Power/infra lending | 5.10x | 0.97x |
(Sources: Screener individual standalone company pages; indicative mid October 2026 multiples.)
IREDA’s P/E (15.5x) and P/B (2.2x) are higher than those of PFC (5.54x and 1.03x) and REC (5.10x and 0.97x), while its ROE (15.6%) is lower than the roughly 20% of both. Its specialised renewable financing exposure is linked to investor interest, and higher multiples can be associated with share price sensitivity to changes in expected growth or credit losses.
IREDA finances capital-intensive projects with long construction and repayment cycles. Land, grid connection, tariffs, offtaker payments, or concentrated corporate exposure can delay repayment. Gross NPA increased from 2.45% in March 2025 to 3.49% in March 2026, then 3.76% by June 2026.
Borrowings fund the majority of the asset book. If wholesale funding rates rise more quickly than loan yields, lending spreads can compress. Expanding equity capital supports future loans and regulatory capital adequacy but can dilute per share growth if deployed returns disappoint.
A price-to-book multiple above that of peers indicates that earnings meet expectations. Changes to RBI NBFC norms, government renewable policy, public sector utility payment health, or large project commissioning or provisioning rules could alter earnings and investor sentiment.
IREDA is a renewable energy financier controlled by the Government of India, with a loan book of ₹93,069 crore at March 2026 and ₹94,852 crore at June 2026. Its P/E is 15.5x and P/B 2.2x, compared with 5.54x and 1.03x for PFC and 5.10x and 0.97x for REC. Gross NPA was 3.76% in June 2026.
The Q2 FY27 earnings release, gross and net NPAs, recoveries, credit costs, lending spreads, and P/B relative to sustainable ROE are all factors that will influence future results.
IREDA’s loan book increased from ₹59,698 crore in FY24 to ₹76,282 crore in FY25 and ₹93,069 crore in FY26, equivalent to around 22% growth in FY26. Sanctions totalled ₹51,883 crore and disbursements ₹34,946 crore in FY26. As of June 2026, outstanding loans were around ₹94,852 crore, reflecting further portfolio expansion.
Credit quality indicators moved in different directions. Gross NPA rose to 3.76% in June 2026 from 3.49% at the end of March, while net NPA improved to approximately 1.23% from 1.29%, which may reflect provisioning and recoveries. Fresh slippages and the concentration of stressed borrowers are data points alongside loan book growth.
RBI granted IREDA Infrastructure Finance Company status in March 2023. Its focus spans solar, wind, hydro, energy storage, green hydrogen, electric mobility and other low-carbon infrastructure. The designation aligns the company with infrastructure lending regulation and helps frame its funding and project tenor activities; it does not mean loans are sovereign guaranteed.
MNRE figures showed solar at about 171.05 GW and wind at 59.20 GW of installed capacity as of September 2026. IBEF describes a multi-year investment pipeline. Spreads, delinquencies and concentration are the factors linked to whether IREDA can underwrite those opportunities.
At roughly ₹108 and a book value of around ₹49.1 per share, IREDA traded at about 2.2 times book value, compared with approximately 1.03x for PFC and 0.97x for REC. Its renewable-only positioning and growth opportunity may be linked to the higher multiple; its reported ROE of 15.6% was below the roughly 20% levels of both peers.
For financial institutions, analysts read P/B together with through-cycle ROE, required equity returns, credit costs, funding stability and growth. A multiple above book is linked to the level of ROE that is sustained; higher defaults or frequent dilution are factors that could affect the multiple.
Source: Dalal Street Investment Journal (DSIJ), Opstra, BSE
The latest verified completed NSE session ended at ₹108.26 on 15 October 2026.
Standalone FY26 profit after tax was around ₹1,873 crore, while the year end outstanding loan book reached about ₹93,069 crore.
No. It is a regulatory classification; project delays, bad loans, interest rate movements and borrower concentration are risk factors.
The Q2 FY27 results scheduled for 19 October 2026, gross and net NPAs, fresh slippages, financing margins, provisions, funding costs and any capital raising announcements.
SEBI Registered Research Analyst (INH000006396).
Founded in 1986, Dalal Street Investment Journal (DSIJ) brings decades of experience in India’s equity markets. DSIJ's research combines fundamental analysis with price action, guided by disciplined risk management and capital preservation. They follow a structured, data-driven approach designed to help investors and traders make informed decisions beyond short-term market noise.
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