Indian Renewable Energy Development Agency (IREDA) Q4 25/26 earnings summary

Executive summary

• FY26 revenue from operations rose 23% YoY to ₹8,309 crore and PAT increased 10% to ₹1,873 crore; the loan book grew 22% to ₹93,069 crore.

• Q4 FY26 revenue rose 14% YoY to ₹2,175 crore, while PBT and PAT each fell 2% to ₹619 crore and ₹493 crore, respectively.

• Audited standalone and consolidated results for the quarter and year ended March 31, 2026, were approved; audit reports had no qualifications.

• Final dividend of ₹0.75 per share recommended, bringing FY26 dividend to ₹1.35 per share including the ₹0.60 interim dividend.

Financial highlights

• Standalone FY26 total income was ₹8,337.48 crore, versus ₹6,754.78 crore in FY25; standalone PAT was ₹1,873.34 crore, versus ₹1,698.60 crore.

• Consolidated FY26 total income was ₹8,338.89 crore and net profit ₹1,874 crore; EPS was ₹6.73 on standalone and consolidated bases.

• FY26 operating profit, defined as PBT before depreciation and impairment on financial instruments, rose 33% to ₹3,158 crore; standalone PBT increased 11% to ₹2,337 crore.

• FY26 finance costs rose 18% to ₹4,905 crore and employee benefit expenses rose 30% to ₹105 crore.

• Q4 impairment on financial instruments increased to ₹215 crore from ₹129 crore; quarterly operating profit rose 10% to ₹847 crore.

Outlook and guidance

• Board approved further equity raising via QIP up to ₹2,994 crore, with government shareholding dilution capped at 3.76% post-issue.

• Focus remains on India's clean energy transition and exploring opportunities in renewable and climate mitigation technologies.