IREDA Signs MoU with MNRE, Sets Rs 8,200 Crore Revenue Target for FY 2025-26

New Delhi, Aug 25 (KNN) The Indian Renewable Energy Development Agency Limited (IREDA) has signed a performance-based Memorandum of Understanding (MoU) with the Ministry of New and Renewable Energy (MNRE), Government of India, setting strategic goals for the financial year 2025-26.

The MoU was formalised at Atal Akshay Urja Bhawan, New Delhi, with Shri Santosh Kumar Sarangi, Secretary, MNRE, and Shri Pradip Kumar Das, Chairman and Managing Director, IREDA, signing the agreement in the presence of senior officials from both organisations.

As part of the agreement, the Government of India has fixed a Revenue from Operations target of Rs 8,200 crores for IREDA in FY 2025-26.

This follows the company’s strong performance in FY 2024-25, where it recorded Rs 6,743.32 crores in revenue against a target of Rs 5,957 crores, surpassing expectations.

In addition to revenue goals, the MoU sets benchmarks across key performance parameters such as Return on Net Worth, Return on Capital Employed, NPA to Total Loans, Asset Turnover Ratio, and Earnings Before Tax, Depreciation, and Amortisation (EBTDA). These indicators will help assess the financial and operational efficiency of the organisation.

Commenting on the development, Shri Pradip Kumar Das expressed optimism about IREDA’s growth, stating, “We are committed to sustaining our record of excellence and aim to deliver outstanding results this year as well.”

IREDA has consistently maintained an impressive track record, earning an “Excellent” rating in MoU performance for four consecutive years since FY 2020-21.

For FY 2023-24, it was ranked as the top performer in the Non-Banking Financial Companies (NBFC) and Power sector, and among the top four Central Public Sector Enterprises (CPSEs) out of 84 assessed by the Department of Public Enterprises.

(KNN Bureau)