IREDA Shares Climb 7% After Net Profit Rises 49% In Q4; Should You Invest? – News18
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IREDA Shares: Shares of Indian Renewable Energy Development Agency (IREDA) surged during early trade on April 16; Should you buy?
IREDA Share Price
IREDA Share Price: Shares of Indian Renewable Energy Development Agency (IREDA) surged during early trade on April 16, extending their pre-earnings rally. The stock opened higher at Rs 177.03 on the NSE and quickly climbed to an intraday high of Rs 179.50, marking a gain of over 7%. With this move, IREDA shares have now rallied more than 18% over the last three sessions.
The renewed investor interest comes on the back of strong Q4 results announced by the company post-market hours on Tuesday. For the quarter ended March 2025, IREDA reported a 49% year-on-year (YoY) jump in net profit to Rs 502 crore, compared to Rs 337 crore in the same quarter last year.
For the full financial year 2024-25, the state-run non-banking financial company posted a net profit of Rs 1,698.60 crore, up 36% from Rs 1,252.24 crore reported in FY24.
Shares of Indian Renewable Energy Development Agency (IREDA) ended 8.40% higher at Rs 167.10 on April 16 ahead of its Q4 earnings announcement post market hours. The PSU financier reported a 36.93% YoY rise in revenue from operations to Rs 1,905.06 crore in Q4 FY25, against Rs 1,391.26 crore in the same period last year.
The stock is trading above its 5-day, 10-day, 20-day, 30-day, and 50-day simple moving averages (SMAs), but remains below its 100-day, 150-day, and 200-day SMAs. The 14-day Relative Strength Index (RSI) stands at 57.32, suggesting neutral momentum.
IREDA currently trades at a P/E of 29.27 and P/B of 4.81, with earnings per share (EPS) of Rs 5.71 and return on equity (RoE) at 5.85%. Trendlyne data indicates a one-year beta of 1.5, highlighting high volatility.
The PSU’s loan book grew 28% YoY to Rs 76,250 crore in FY25. Its board recently approved a borrowing plan of Rs 30,800 crore for FY26, and revised FY25’s borrowing limit to Rs 29,200 crore.
Should You Buy?
Mahesh M Ojha, AVP – Research, Hensex Securities, said IREDA is facing resistance at Rs 174. “Profit booking may occur near this level, but as long as it holds above Rs 164, the stock remains a ‘buy’. A breakout above Rs 174 could push the stock towards Rs 184,” he noted. Fresh investors may also consider buying with a stop loss at Rs 164 for a short-term target of Rs 184, Ojha added.
