Indian Renewable Energy Development Agency

Date 02.06.2025
IREDA
Timeframe : Day Chart

Technical Remarks :

1 Breaking out from one year long downward channel
2 Resistance/Breakout = 50% of Fibonacci retracement + 200 EMA = Same Area
3 Breakout from Ichimoku cloud & consolidating
4 If resumes cloud & downward channel then exit on long position
5 Minimum target on breakout will be 38.2% @ 211

Fundamental remarks :

Business Profile

Company is the nation's largest pure-play green financing NBFC. It 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

1 Stock is trading at 4.59 times its book value
2 Working capital days have increased from 1,185 days to 3,897 days
3 The company is 75% owned by Government Of India

Sector Split of Disbursements :

1 Solar Thermal/ SPV: 26%
2 Wind: 16%
3 Loan facility to State Utilities - Others: 18%
4 Hydro Power: 11%
5 Loan facility to State Utilities - Genco : 3%
6 Manufacturing: 6%
7 Ethanol: 7%
8 Others: 3

State wise Split :

1 Andhra Pradesh: 15%
2 Rajasthan: 14%
3 Karnataka: 13%
4 Tamil Nadu: 9%
5 Gujarat: 8%
6 Telangana: 8%
7 Maharashtra: 7%
8 Others: 26%

Regards,
Ankur