IREDA shares rise 3% after Q1 update: Disbursements rise 31%, loan book nears Rs 80,000 crore
ADVERTISEMENT Loans sanctioned during the quarter rose 29% year-on-year to Rs 11,740 crore, compared to Rs 9,136 crore in the same period last year. Loan disbursements also increased by 31% to Rs 6,981 crore, up from Rs 5,326 crore in the year-ago quarter.
As a result, IREDA's loan book outstanding stood at Rs 79,960 crore as of June 30, 2025, marking a 27% increase from the previous year. It had reported an outstanding loan book of Rs 76,250 crore at the end of the March quarter.
The company has also made headlines recently for initiating insolvency proceedings against Gensol Engineering and its subsidiaries. In June, the Ahmedabad bench of the National Company Law Tribunal (NCLT) admitted a corporate insolvency resolution petition filed by Gensol Engineering against its subsidiary Gensol EV Lease Ltd. over a default of Rs 218.95 crore.
During the quarter, IREDA raised Rs 2,000 crore through a Qualified Institutional Placement (QIP), selling shares to LIC, Societe Generale, Morgan Stanley, and Vikasa India EIF I Fund. Following the QIP, the government's stake in the company stands at 71.76%.
Also Read: Top 10 Nifty500 stocks with dividend yields higher than industry average
ADVERTISEMENT According to Trendlyne, the average target price for IREDA is Rs 173, indicating a potential upside of around 2% from current levels. Of the two analysts tracking the stock, the consensus rating is 'Buy'.IREDA shares closed 0.35% higher at Rs 170.1 on the BSE in the previous session. While the stock has gained 6% over the past three months, it is down 23% so far this year.
Also Read: Street Favourite! 10 Nifty micro-cap stocks analysts expect to rally up to 60%
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
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