IREDA aims at 22% revenue growth

Indian Renewable Energy Development Agency Limited (IREDA) has signed a performance-based Memorandum of Understanding (MoU) with the Ministry of New and Renewable Energy (MNRE), Government of India, setting out strategic goals for the fiscal year 2025-26.

Listen to this article

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.

Latest

A biography on SNN Sankaralinga Iyer

The biography was authored by veteran journalist K Balakumar....

Activity Galore

Godrej Properties bought 47 acres off OMR for a...

When Numbers Tell A Tale…

 Ask the mandarins at TAFE (Trac­tors and Farm Equipment...

Managing Power

With mercury rising, Tamil Nadu’s power demand is hitting...

Newsletter

Don't miss

A biography on SNN Sankaralinga Iyer

The biography was authored by veteran journalist K Balakumar....

Activity Galore

Godrej Properties bought 47 acres off OMR for a...

When Numbers Tell A Tale…

 Ask the mandarins at TAFE (Trac­tors and Farm Equipment...

Managing Power

With mercury rising, Tamil Nadu’s power demand is hitting...

Minister Keerthana Chairs Budget Consultation Meeting

Detailed discussions were held on the Department's ongoing development...

A biography on SNN Sankaralinga Iyer

The biography was authored by veteran journalist K Balakumar. The Tamil translation of the book was also released simultaneously. The Tamil translation was done...

Activity Galore

Godrej Properties bought 47 acres off OMR for a plotted residential project, while Arihant Foundation and Housing acquired a prime Anna Salai site, adjacent...

When Numbers Tell A Tale…

 Ask the mandarins at TAFE (Trac­tors and Farm Equipment Ltd.). They will unhesitatingly vouch for it. Indeed, the flagship company of the Chennai-based Amalgama­tion...