The MoU was signed at Atal Akshay Urja Bhawan, New Delhi, by Shri Santosh Kumar Sarangi, Secretary, MNRE, and Shri Pradip Kumar Das, Chairman & Managing Director, IREDA, in the presence of senior officials from both MNRE and IREDA.
As per the agreement signed on August 25, the Government of India has fixed a revenue from operations target of ₹8,200 crore for IREDA in FY 2025-26, according to a statement.
In the previous fiscal year (2024-25), the company had outperformed its target, achieving ₹6,743.32 crore against the set goal of ₹5,957 crore.
The MoU also lays down multiple performance indicators, including return on net worth, return on capital employed, NPA to total loans, asset turnover ratio, and EBTDA, among other parameters. These benchmarks will serve as key yardsticks to evaluate IREDA’s financial and operational efficiency in the coming year.
Pradip Kumar Das, CMD, IREDA, expressed confidence in the company’s growth trajectory. “With the hope for continuing excellent performance for this year also, we are committed to sustaining our track record of excellence,” he said.
IREDA has consistently maintained strong performance under its MoU commitments. The company has secured an ‘Excellent’ rating for four consecutive years since FY 2020-21.
For FY 2023-24, IREDA not only emerged as the top performer among NBFCs and entities in the Power sector but also ranked among the top four Central Public Sector Enterprises (CPSEs) across all sectors, according to a list of 84 CPSEs released by the Department of Public Enterprises, it added.
