Indian Renewable Energy Development Agency Limited (IREDA) on August 25 said it has set a revenue target of Rs 8,200 crore for the financial year 2026.
"IREDA on August 25 signed a performance-based Memorandum of Understanding (MoU) with Ministry of New and Renewable Energy (MNRE), outlining strategic targets for the fiscal year 2025-26. Under the MoU, the Government of India has set a revenue from operations target of Rs 8,200 crores for FY 2025-26," the MNRE said in a statement.
In FY25, IREDA had exceeded its revenue from operations target, achieving Rs 6,743.32 crore as against the target of Rs 5,957 crore.
The MoU signed on August 25 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 Santosh Kumar Sarangi, Secretary, MNRE and Pradip Kumar Das, Chairman and Managing Director, IREDA.
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 were trading 0.8% higher at ₹148.69 on August 25. The stock is down 3% in the last one month and has corrected over 50% from its all-time high of ₹310.
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