Multi Bagger (IREDA) LongCaution: Multi Bagger (started its journey)
Why?
Indian Renewable Energy Development Agency Ltd
ABOUT
Incorporated in March 1987, Indian Renewable Energy Development Agency (IREDA) is a Mini Ratna (Category - I) government enterprise in the business of promoting, developing, and extending financial assistance for new and renewable energy (RE) projects, and energy efficiency and conservation (EEC) projects.
KEY POINTS
Business Profile Co. provides a comprehensive range of financial products and related services, from project conceptualization to post-commissioning, for Renewable Energy (RE) projects and other value chain activities, such as equipment manufacturing and transmission.
Projects IREDA has financed projects across multiple RE sectors such as solar power, wind power, hydropower, transmission, biomass including bagasse and industrial co-generation, waste-to-energy, ethanol, compressed biogas, hybrid RE, EEC, and green-mobility
Loan Book IREDA has a diversified loan book of Rs 47,514 crore in September 2023. It has demonstrated strong growth of 30% CAGR between FY21 and FY23
Loans Disbursed Loans sanctioned have increased from Rs 11,001 crore in FY2021 to Rs 32,587 crore in FY2023. Loans disbursed increased from Rs 8,828 crore in FY2021 to Rs 21,639 crore in FY2023.
** Improving Asset quality
GNPA's - 8.77% in FY21 vs 5.21% in FY22 vs 3.21% in FY21.
NNPA's** 5.61% in FY21 vs 3.12% in FY22 vs 1.66% in FY23.
Geographical Presence IREDA has a geographically diversified portfolio across 23 states and five union territories in September 2023.
Credit Rating The share of secured assets was 93.41%. IREDA has been rated highly by credit rating agencies as AAA (Stable) by India Ratings, ICRA, and Acuite.
Loan Concentration The largest borrower accounts for 3.9% of the loan book, top 5 for 16.2%, top 10 for 25.9%, and top 20 for 39.7% in September 2023.
The company has 60.72% of the loan book in top five states (Rajasthan 15.5%, Karnataka 13.8%, Andhra Pradesh 13.7%, Gujarat 9.9% and Maharashtra 7.9%) in September 2023.
Loan Book Bifurcation - Sectorwise
Private Sector - 73% in FY23 vs 66% in FY22
Public Sector - 27% i n FY22 vs 34% in FY22
IPO DetailsCo. intends to raise 2150 Crs through the IPO of which 1290 Crs of fresh issue will be utilised for:
A) Augmenting the capital base to meet future capital requirements and onwardlending.
B) Listing Benefits
Give 10% space in your portfolio
If you get benefitted with my sharing, don't forget to fund my brain with a dinner with you.... (UPI. +919955150786)
BEST OF LUCK😎
