IREDA Q1 Results today: Shares rise 2% ahead of earnings; five recent developments you need to know

The company, which was established in 1987, promotes, develops, and finances renewable energy and energy efficiency projects. Besides, IREDA provides financial assistance, including loans and other financial products, for projects related to solar, wind, hydro, biomass, and other renewable energy sources, as well as for energy efficiency and conservation initiatives.

Ahead of its earnings announcement, IREDA on Thursday said that the Central Board of Direct Taxes, Department of Revenue, Ministry of Finance has permitted it to issue capital gain exemption bonds under Section 54EC of the Income Tax Act, 1961 w.e.f. the date of notification, i.e., July 9, 2025.

54EC bonds, or capital gains bonds, are specifically meant for investors earning long-term capital gains who would like tax exemption on these gains.

Tax deduction is available under section 54EC of the Income Tax Act.

54EC bonds do not allow any tax exemption on short-term capital gains tax. The eligible bonds under Section 54EC are REC (Rural Electrification Corporation Ltd), PFC (Power Finance Corporation Ltd) and IRFC (Indian Railways Finance), as per available reports.

The stock gained as much as 2.56% to ₹170.16 on the NSE.

Loan Sanctions

IREDA logged a 29% growth in loan sanctions to ₹11,740 crore in the June quarter (Q1 FY26) as compared to ₹9,136 crore a year ago.

The state-owned agency started the financial year on a high note, registering a rise in its key financial indicators in the June quarter, based on provisional data, a statement said.

Loan disbursements rose 31% to ₹6,981 crore from ₹5,326 crore in Q1 FY25.

The company's outstanding loan book was at ₹79,960 crore as of June 30, 2025, reflecting a 27% increase over ₹63,207 crore in the year-ago period.

"Our first quarter growth underscores IREDA's crucial role in powering India's renewable energy ecosystem. The numbers reflect both increasing demand and our readiness to respond with effective financing solutions," CMD Pradip Kumar Das said.

IREDA raises over ₹2,000 crore

In June 2025, IREDA said it had raised over ₹2,000 crore through the issuance of qualified institutions placement.

The qualified institutions placement (QIP) issue, which was open from June 5-10, received an encouraging response from both domestic and foreign qualified institutional buyers (QIBs), including insurance companies, scheduled commercial banks and foreign portfolio investors.

The QIP was oversubscribed, with bids amounting to ₹2,005.90 crore against the base issue size of ₹1,500 crore, achieving a subscription of 1.34 times.

IREDA appoints new executive directors

In April 2025, IREDA said it appointed three executive directors in the company with effect from April 28.

"There are changes in the senior management position of IREDA Limited," the company said in a regulatory filing.

Sushant Kumar Dey has been appointed as executive director (projects). He was working as GM (Projects) in the company, IREDA said.

While Surendra Kumar Sharma and Dhiraj Mehta, who were general managers (finance and accounts), have been appointed as executive directors (finance and accounts).

The company has also appointed Durre Shahwar to the post of General Manager (Human Resources). She was working as an additional GM (Human Resources) in the company.

IREDA files for bankruptcy against Gensol Engineering

In May 2025, IREDA said it filed a bankruptcy application against beleaguered Gensol Engineering before the National Company Law Tribunal.

According to a regulatory filing, IREDA filed an application on May 14, 2025, under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Gensol Engineering Limited, a listed company bearing an amount of default of ₹510,00,52,672 (about ₹510 crore).

In April 2025, in an interim order, SEBI barred Gensol Engineering and promoters -- Anmol Singh Jaggi and Puneet Singh Jaggi -- from the securities markets till further orders in a fund diversion and governance lapses case.

On May 12, the Jaggi brothers resigned from the company following market regulator Sebi's interim order, according to an exchange filing. Anmol Singh Jaggi held the post of Managing Director while Puneet Singh Jaggi was a Whole-time Director.

IREDA Q4 FY25 Results

IREDA reported a 49% rise in its standalone profit after tax to ₹502 crore in the quarter ended March 31, 2025.

Its revenue from operations rose 37% year-on-year (YoY) to ₹1,904 crore in the fourth quarter, the company said in a statement.

For FY25, the company said its profit after tax (PAT) was the highest ever at ₹1,699 crore, up 36% compared to FY24.

Its revenue from operations also grew by 36% YoY to ₹6,742 crore in FY25.

As of March, the company said its net worth was at ₹10,266 crore, up 20% YoY.

The company has registered a 20% growth in its loan book to ₹76,282 crore in FY25.

"IREDA's sustained growth in revenue, profitability, and loan book underscores our strategic focus towards financing India's renewable energy ambitions.