New Delhi: Indian Renewable Energy Development Agency Limited (IREDA), a Government of India Navratna PSU, has reported strong financial performance for the financial year ended March 31, 2026. The company’s audited results showed a 10.3% year-on-year increase in net profit to ₹1,873.34 crore, while revenue from operations rose 23.4% to ₹8,337.48 crore.
The company also recommended a final dividend of ₹0.75 per equity share, taking the total dividend for FY26 to ₹1.35 per share, including the interim dividend already paid.
The audit reports on both the standalone and consolidated financial statements contained no qualifications.
IREDA FY26 Financial Performance
IREDA recorded growth across several key financial parameters during FY2025-26.
- Revenue from Operations: ₹8,337.48 crore, up 23.4% from ₹6,754.78 crore
- Net Profit: ₹1,873.34 crore, up 10.3% from ₹1,698.60 crore
- Earnings Per Share (EPS): ₹6.73, compared with ₹6.32
- Net Worth: ₹13,781.35 crore, up 34.2% from ₹10,266.16 crore
- Capital Adequacy Ratio (CRAR): 20.59%, compared with 17.77% in FY25
The improvement in net worth and CRAR reflects the strengthening of the company’s capital position during the year.
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Total Dividend Rises to ₹1.35 Per Share
The IREDA Board has recommended a final dividend of ₹0.75 per equity share of face value ₹10 each.
This is in addition to the interim dividend of ₹0.60 per share already paid during FY2025-26.
Therefore, the total dividend for FY26 stands at:
- Interim dividend: ₹0.60 per share
- Final dividend recommended: ₹0.75 per share
- Total dividend: ₹1.35 per share
The final dividend will be subject to approval by shareholders at the company’s upcoming Annual General Meeting.
Loan Book Expands 21.4%
IREDA’s lending portfolio recorded significant growth during FY26. Total loans increased 21.4% to ₹90,196.6 crore, compared with ₹74,271.5 crore in the previous financial year.
However, the company also reported movement in certain asset-quality indicators.
The Gross NPA ratio increased to 3.49% from 2.45%, while the Net NPA ratio remained broadly stable at 1.29%, compared with 1.30% in FY25.
The cumulative impairment allowance stood at ₹2,689.1 crore.
Certain accounts amounting to ₹394 crore have been classified as Stage II (Standard) instead of Stage III (NPA) due to interim orders of the High Court. IREDA said interest income on these accounts is being recognised on a collection basis as a matter of prudence.
Higher Impairment Charges Impact Profitability
While IREDA’s interest income increased during FY26, impairment charges also rose significantly.
Interest income grew 24.4%, whereas impairment charges increased 227.6% to ₹777.1 crore.
The sharp increase in impairment costs indicates higher provisioning requirements during the year and moderated the impact of strong revenue growth on profitability.
The company also reported two fraud cases during FY26 involving a total amount of ₹14.8 crore. One of the cases involves borrower group Gensol and remains under investigation. IREDA said the relevant loan account has been downgraded and adequate provisions have been made.
CRAR Improves to 20.59% After Regulatory Changes
IREDA adopted the RBI’s revised risk-weight framework for high-quality infrastructure projects with effect from March 31, 2026.
According to the company, the revised framework reduced its risk-weighted assets by ₹7,787.8 crore and improved the Capital to Risk Weighted Assets Ratio (CRAR) by 1.83 percentage points to 20.59%.
The stronger capital adequacy position provides additional support for IREDA’s lending activities in the renewable energy sector.
IREDA Raises ₹2,005.90 Crore Through QIP
IREDA successfully completed the first tranche of its Qualified Institutional Placement (QIP) in June 2025.
Under Tranche I, the company raised ₹2,005.90 crore through the allotment of 12,14,66,562 equity shares at a premium of ₹155.14 per share.
The funds were utilised for:
- Augmenting the company’s capital base
- Onward lending
- General corporate purposes
Following the QIP, the Government of India’s shareholding stands at 71.76%.
The IREDA Board has also approved a second QIP tranche of up to ₹2,994 crore, subject to shareholder approval.
No Audit Qualifications Reported
IREDA said the audit reports on its standalone and consolidated financial statements contained no qualifications.
The Comptroller and Auditor General of India (CAG) also conducted a supplementary audit of the financial statements and did not identify anything significant requiring comment or addition to the statutory auditors’ report.
The company further reported that there were no defaults in repayment of debt securities, borrowings or subordinated liabilities during the period.
IREDA said it met all its debt servicing obligations during FY26.
Audit Committee Position Disclosed
IREDA disclosed that its Audit Committee was not in existence from March 28, 2026, due to the non-availability of Independent Directors.
The Board has approved the financial results and requested the Administrative Ministry to facilitate the appointment of the required number of Independent Directors.
The company is expected to provide further updates as the process progresses.
Consolidated Results Include IREDA’s GIFT City Subsidiary
The consolidated financial statements include the performance of IREDA Global Green Energy Finance IFSC Limited, a wholly owned subsidiary incorporated at GIFT City, Gujarat.
The subsidiary forms part of IREDA’s broader efforts to expand its presence in green energy financing and related financial activities.
About IREDA
Indian Renewable Energy Development Agency Limited (IREDA) is a Government of India Navratna PSU under the Ministry of New and Renewable Energy. Established in 1987, IREDA is a specialised financial institution focused on financing and promoting renewable energy and energy-efficiency projects. The company provides financial assistance for projects across areas such as solar, wind, hydro, bioenergy and other clean energy segments.
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