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A lower share price does not by itself make IREDA cheap. Before considering a purchase, verify the current exchange price and valuation, then check the latest earnings, loan-book quality, funding and capital position, borrower developments, and company disclosures. The latest company figures located for this review are for the quarter ended 30 June 2026; they are historical, not a forecast or a live valuation.
First verify what fell—and what the shares cost now
The reviewed material does not establish a verified IREDA share quote on 7 October 2026 or identify the cause of any particular price decline. Check a date-stamped NSE or BSE quote and compare it with the relevant earlier price over the same period. A fall might reflect company-specific news, a broader market or sector move, or changing expectations; do not attribute it to a cause without a dated source.
IREDA is a listed renewable-energy finance NBFC. NSE identifies its symbol as IREDA and its ISIN as INE202E01016. Confirm the security and exchange listing before using a quote or placing an order.
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Use valuation data from the same date as the share price. For each multiple, record the calculation basis and reporting period rather than relying on an undated screen or headline figure.
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- Price-to-earnings (P/E): establish whether earnings are trailing or forward, and use a consistent earnings period.
- Price-to-book (P/B): consider return on equity and the risks behind the loan assets. Book value is not risk-free for a lender.
- Earnings quality: examine loan yields, borrowing costs, spreads or net interest margin, provisions, recoveries, and credit costs over time.
- Relative value: compare with listed lenders using the same reporting date and definitions. Differences in mandates, borrowers, accounting, and risk appetite can make direct comparisons misleading.
Do not call the shares undervalued simply because the price has declined or because one multiple is below a peer’s.
Read the latest results in the right time frame
IREDA’s investor presentation dated 3 August 2026 covers Q1 FY2026–27, the quarter ended 30 June 2026. It reports standalone revenue from operations of ₹2,248 crore and profit after tax (PAT) of ₹338 crore. The comparable quarter, Q1 FY2025–26, recorded revenue from operations of ₹1,947 crore and PAT of ₹247 crore.
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| Reported measure | Q1 FY2026–27 (quarter ended 30 June 2026) |
Q1 FY2025–26 (year-earlier quarter) |
|---|---|---|
| Revenue from operations | ₹2,248 crore | ₹1,947 crore |
| Interest expense | ₹1,341 crore | not stated in the cited presentation figures summarized here |
| Operating profit | ₹841 crore | not stated in the cited presentation figures summarized here |
| Profit before tax | ₹413 crore | not stated in the cited presentation figures summarized here |
| Profit after tax | ₹338 crore | ₹247 crore |
The company’s presentation also reports FY2025–26 revenue from operations of ₹8,309 crore and PAT of ₹1,873 crore. Those are full-year figures, so do not compare them directly with a single quarter. To judge whether growth is durable, follow successive quarterly results and compare like periods.
Assess loan growth alongside asset quality
The loan book stood at ₹94,936 crore on 30 June 2026, up from ₹79,941 crore a year earlier, according to the 3 August 2026 investor presentation. Growth is only one part of the picture: examine whether borrowers can repay and whether reported problem loans are being covered and resolved.
| Asset-quality measure | 30 June 2026 | Year earlier |
|---|---|---|
| Gross NPA amount | ₹3,568 crore | ₹3,302 crore |
| Gross NPA ratio | 3.76% | 4.13% |
| Net NPA amount | ₹1,134 crore | ₹1,615 crore |
| Net NPA ratio | 1.23% | 2.06% |
The ratios improved year over year while the gross NPA amount increased and the net NPA amount fell. Read both amounts and ratios; neither alone explains the full trend. In each subsequent filing, look for new slippages, upgrades, cash recoveries, write-offs, provisioning, and borrower-specific disclosures.
Check who owes the money and where portfolio exposure sits
At 30 June 2026, the presentation reported the following composition of outstanding loans. These categories describe different dimensions of the portfolio, so they should not be added together as though they were mutually exclusive.
| Portfolio dimension | Share of outstanding loans at 30 June 2026 |
|---|---|
| Private borrowers | 77% |
| Public borrowers | 23% |
| Solar | 26% |
| Loans to state utilities | 19% |
| Wind | 11% |
| Manufacturing | 11% |
| Hydro | 8% |
| Ethanol | 8% |
For larger exposures, consider project completion and operating performance, borrower repayment capacity, power-purchase arrangements, and counterparty risk. A portfolio category or borrower notice is a reason to examine the underlying facts, not by itself proof of a loss.
Do these 3 things before closing this tab:
1Clear out junk files and repair common Windows errors2Fix the driver behind crashes, sound loss and screen glitches3Repair Windows errors before they cause bigger problemsExamine funding costs, currency exposure, and capital
IREDA funds lending through borrowings and equity, so the cost and stability of funding can affect earnings and growth capacity. The company presentation reports these figures at 30 June 2026:
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| Funding or capital measure | Reported figure |
|---|---|
| Borrowings | ₹79,002 crore |
| Debt-equity ratio | 5.59 |
| Capital to risk-weighted assets ratio (CRAR) | 20.30% |
| Net worth | ₹14,133 crore |
| Foreign borrowings | ₹11,329 crore |
| Foreign borrowings hedged | ₹9,389 crore |
Track borrowing cost against loan yield and the resulting spread or net interest margin. Also review borrowing mix, maturity concentrations, currency hedging, and capital requirements. The reported hedged amount is not the same as the total foreign borrowing amount, so follow later disclosures for changes in exposure and hedging.
A capital raise could support lending growth but may dilute existing shareholders. Treat issuance as a live risk only when a dated company filing confirms a proposal or action; do not infer an imminent raise from leverage or growth plans alone.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Read borrower and governance disclosures for status, not headlines
IREDA’s audited FY2025–26 consolidated financial-statement notes describe actions involving Gensol Engineering and Gensol EV Lease, including recalled loans, recovery proceedings, CIRP steps, NPA downgrades in Q1 FY2025–26, and impairment provisions. The notes also describe later activities by the resolution professional regarding vehicles. These are date-specific developments; check subsequent company and court disclosures for status rather than treating an ongoing process as resolved.
The company’s disclosures page lists 2026 notices concerning board comments on exchange fines, senior-management changes, appointment of a government nominee director, and a fraud declaration concerning Gensol Engineering and Gensol EV Lease. Read each underlying notice and any company response. A notice title alone does not establish an accounting loss, a regulatory finding, or final culpability.
Quick Recap
A practical pre-purchase checklist
- Confirm the market move: use an exchange quote with a timestamp, identify the comparison period, and verify whether the decline is specific to IREDA or part of a broader move.
- Calculate valuation consistently: record the share price date, earnings basis for P/E, book-value date for P/B, and the same-date peer measures.
- Update the operating picture: read the newest results and presentation, compare equivalent quarters, and distinguish quarterly results from full-year totals.
- Test loan-book quality: review NPA amounts and ratios, slippages, recoveries, write-offs, provisions, and material borrower updates.
- Review funding resilience: compare borrowing cost with loan yield; check maturities, currency exposure and hedges, debt-equity, CRAR, and any filed equity issuance.
- Read official notices in full: check the date, underlying facts, company response, and whether proceedings or findings have reached a final outcome.
- Decide against your own risk limits: a growth opportunity and a higher-risk lending profile can coexist. The figures above do not establish whether the shares suit a particular investor.
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
