Latest news with #IndianRenewableEnergyDevelopmentAgencyLtd
United News of India
22-07-2025
- Business
- United News of India
IREDA reaffirms its commitment to India's Clean Energy Mission
Mumbai, July 21 (UNI) Indian Renewable Energy Development Agency Ltd (IREDA), India's leading Non-Banking Financial Company (NBFC) under the Ministry of New & Renewable Energy (MNRE), reaffirms its commitment towards India's clean energy mission with strong financial performance and robust growth strategy, according to a statement issued here today. IREDA reported a 49 percent year-on-year growth in operating profit and a 30 percent rise in total income from operations in first quarter (Q1) of FY 2025–26. The strong performance underscored the strength of its core business. IREDA's outstanding loan book surged to Rs 79,941 crore, a 26 percent increase over the previous year, with significant contributions from solar, wind, and emerging technologies like green hydrogen, smart meters, and EVs. The company maintained its impeccable AAA (Stable) domestic credit ratings and successfully raised Rs ₹5,903 crore during the quarter, including a JPY 26 billion ECB from SBI Tokyo, ensuring access to cost-effective capital. Further, while net worth rose by 36 percent, to Rs ₹12,402 crore reflecting continued investor confidence and leadership in the renewable energy financing space. Commenting on the continued growth metrics, Pradip Kumar Das, Chairman & Managing Director, said: 'Operational excellence and responsible financing remain at the heart of our business strategy. We are committed to creating long-term stakeholder value through strong corporate governance, financial discipline, and robust support to India's renewable energy goals.' In a major policy boost, the Central Board of Direct Taxes (CBDT) under the Ministry of Finance has notified IREDA bonds as 'long-term specified assets' under Section 54EC of the Income-tax Act, 1961, effective July nine. This enables investors to claim capital gains tax exemption while supporting India's green transition. The move is also expected to reduce IREDA's cost of capital and encourage wider investor participation. Over the past financial year, IREDA has steadily reduced its NPAs over time by strengthening credit appraisal systems and recovery mechanisms and as a part of its forward strategy, the organisation continues to diversify its lending portfolio and align with national and global sustainability goals. IREDA also achieved recognition for governance and financial excellence, including the 'CMA Icon 2025' award to the CMD and a top five national ranking for wealth creation between November 2023-–24 by a leading business daily. India's recent milestone of achieving 50 percent non-fossil fuel-based power capacity, five years ahead of its 2030 target underscores the growing opportunities in the renewable energy sector. IREDA has been instrumental in this progress and continues to reaffirm its leadership in driving the country's clean energy transition towards the 500 GW target. UNI AAA SS
Business Standard
11-07-2025
- Business
- Business Standard
PC Jeweller Ltd leads losers in 'A' group
Indian Renewable Energy Development Agency Ltd, Sterlite Technologies Ltd, Balaji Amines Ltd and Elecon Engineering Company Ltd are among the other losers in the BSE's 'A' group today, 11 July 2025. Indian Renewable Energy Development Agency Ltd, Sterlite Technologies Ltd, Balaji Amines Ltd and Elecon Engineering Company Ltd are among the other losers in the BSE's 'A' group today, 11 July 2025. PC Jeweller Ltd crashed 6.40% to Rs 17.54 at 14:46 stock was the biggest loser in the BSE's 'A' the BSE, 153.75 lakh shares were traded on the counter so far as against the average daily volumes of 120.93 lakh shares in the past one month. Indian Renewable Energy Development Agency Ltd tumbled 5.51% to Rs 160.3. The stock was the second biggest loser in 'A' the BSE, 39.94 lakh shares were traded on the counter so far as against the average daily volumes of 10.46 lakh shares in the past one month. Sterlite Technologies Ltd lost 4.19% to Rs 104. The stock was the third biggest loser in 'A' the BSE, 1.78 lakh shares were traded on the counter so far as against the average daily volumes of 34.2 lakh shares in the past one month. Balaji Amines Ltd shed 4.02% to Rs 1802. The stock was the fourth biggest loser in 'A' the BSE, 8932 shares were traded on the counter so far as against the average daily volumes of 19741 shares in the past one month. Elecon Engineering Company Ltd fell 3.98% to Rs 623.7. The stock was the fifth biggest loser in 'A' the BSE, 3.18 lakh shares were traded on the counter so far as against the average daily volumes of 28886 shares in the past one month.
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Business Standard
11-07-2025
- Business
- Business Standard
IREDA bonds get tax-exempt status, helping investors save on capital gains
Bonds issued by the Indian Renewable Energy Development Agency Ltd (IREDA) will be regarded as 'long-term specified assets' to allow individual investors to claim tax exemption on capital gains. Exemption under Section 54EC of the Income Tax Act applies to IREDA bonds redeemable after five years and issued on or after July 9 this year, according to a notification issued by the Central Board of Direct Taxes. Tax-saving potential for investors Under Section 54EC, individuals earning long-term capital gains (LTCG) can save tax by investing the gains in specified bonds within six months of the asset sale. The maximum investment limit is Rs 50 lakh in a financial year. This notification means that IREDA bonds now join the list of other tax-saving bonds eligible under Section 54EC. For investors, this presents another option to defer or avoid paying LTCG tax, while contributing to renewable energy development. Boost for renewable energy projects According to IREDA, proceeds from the bonds will be deployed exclusively for renewable energy projects that can service their debt independently, without relying on state governments. 'This recognition by the government reinforces IREDA's pivotal role in accelerating renewable energy financing in the country,' said Pradip Kumar Das, chairman and managing director, IREDA. 'The tax-exempt status for our bonds will offer an attractive investment avenue while ensuring increased capital availability for green energy projects, contributing to India's 500 GW non-fossil fuel capacity target by 2030,' he said. This move is expected to attract wider participation from investors seeking safe, tax-saving instruments. For those planning to reinvest long-term capital gains, IREDA bonds now provide an opportunity to save tax while backing India's transition to clean energy. Financial planners, however, advise investors to assess their liquidity needs before committing to these bonds that come with a lock-in period of five years.
Mint
10-07-2025
- Business
- Mint
Centre grants tax benefits to Ireda bonds
New Delhi: The finance ministry has notified bonds issued by Indian Renewable Energy Development Agency Ltd (Ireda) as 'long-term specified asset' under section 54EC of the Income-tax Act, 1961. The notification came into effect from 9 July, the ministry of new and renewable energy said on Thursday. Bonds redeemable after five years and issued by Ireda after the notification will qualify for tax exemption under section 54EC of the Income Tax Act, 1961, which allows capital gains tax exemption on investments in specified bonds. "Eligible investors can save tax on Long Term Capital Gain (LTCG) up to ₹ 50 lakh by investing in these Bonds in a Financial Year. Ireda will get benefit in terms of lower cost of funds, which is a significant development for the renewable energy sector, in turn to support the expeditious development of RE sector," the MNRE statement said. It added that the proceeds from these bonds will be utilized exclusively for renewable energy projects capable of servicing debt through their project revenues, without dependence on state governments for debt servicing. Pradip Kumar Das, chairman and managing director, Ireda, said: 'This recognition by the government reinforces Ireda's pivotal role in accelerating renewable energy financing in the country. The tax-exempt status for our bonds will offer an attractive investment avenue while ensuring increased capital availability for green energy projects, contributing to India's 500 GW non-fossil fuel capacity target by 2030.' The ministry, in its statement said that the move is expected to attract wider participation from investors seeking tax-saving instruments and strengthen the renewable energy financing ecosystem in the country. The bonds of state-run Power Finance Corporation (PFC) and REC have already been granted the exemption, which is expected to boost investments in the renewable energy space. In April this year, the Central Board of Direct Taxes, under the finance ministry also notified the bonds of Housing and Urban Development Corporation (Hudco) as long-term assets under Section 54EC of the Income Tax Act. This relaxation is expected to boost financing in the green energy space as the government aims to achieve 500 GW of non-fossil installed power generation capacity by 2030. In April Ireda CMD Pradip Kumar Das had said at an event that India would require investments of about ₹ 30-32 trillion for energy transition by 2030. For the fourth quarter of FY25, the state-run company recorded a 49% rise in standalone net profit to ₹ 502 crore as against ₹ 337 crore in the same period last year. On Thursday, the company announced in Q1FY26 results. Its net profit for the April-June quarter declined 35.1% to ₹ 246.68 crore in the compared to ₹ 383.7 crore in the same quarter of the previous year. Its shares on the BSE closed at ₹ 169.65, higher by 2.26% from its previous close.
Indian Express
19-06-2025
- Business
- Indian Express
Why mid- and small-cap stocks witnessed selling pressure while Sensex, Nifty closed flat
Mid-cap and small-cap indices felt the heat on Thursday as investors became jittery amid growing uncertainties owing to an escalation in the Israel-Iran conflict. The Nifty Midcap 100 and the Nifty Smallcap indices fell 1.8 per cent and 2.28 per cent, respectively, during the intraday trades. The Nifty Midcap 100 plunged 1.83 per cent, or 1,061.75 points to a low of 57,047.45 in the intraday trades. The Nifty Smallcap 100 tanked 2.28 per cent, or 419.9 points, to a low of 17,958.55 during intraday trades. Both indices recovered mildly towards the end of the session, with the Nifty Midcap 100 settling 1.63 per cent lower and the Nifty Smallcap 100 down 1.99 per cent at market closing. In comparison, the benchmark indices, Sensex and Nifty, ended almost flat. The BSE's Sensex lost 0.1 per cent, or 82.79 points, to end at 81,361.87. The broader Nifty 50 declined 0.08 per cent, or 18.8 points, to finish at 24,793.25. Market analysts said that risk-off sentiments in the market is triggered by the crisis in West Asia and its economic fallout. During a risk-off period investors would prefer safe assets. The resilience in gold is due to this safe haven buying. 'In stocks, large caps are relatively fairly valued when compared with the mid- and small-caps, which are excessively valued. These excessive valuations are due to the sustained flows into these segments. It appears that investors are shifting from the risky over-valued mid- and small-cap segments to the safety of large caps,' said VK Vijayakumar, chief investment strategist, Geojit Investments Ltd. Whenever there is some kind of uncertainty in the market, retail investors tend to panic, which leads to heavy selling. This was evident in today's trading session, said G Chokkalingam, founder and head of research, Equinomics. From the Nifty Midcap 100 index, the companies that registered highest losses included Indian Renewable Energy Development Agency Ltd ( 4.3 per cent), Supreme Industries (4.22 per cent), Adani Total Gas Ltd (4.14 per cent), Rail Vikas Nigam Ltd (4.11 per cent) and LIC Housing Finance (3.78 per cent). Among the Nifty Smallcap constituents, firms that dropped the most included Brainbees Solutions (6.25 per cent), Inventurus Knowledge Solutions (5.54 per cent), Cyient Ltd (5.27 per cent) and Reliance Power Ltd (5 per cent).
