Indian Renewable Energy Development Agency Ltd. · NSE:IREDA
Indian Renewable Energy Development Agency — Q3 FY24 Earnings Presentation
28 slides from Indian Renewable Energy Development Agency's earnings presentation, Jan 20, 2024
Slide 1: Investor presentation for Q3 and 9M FY24
ENERGY FOR EVER ONCE IREDA ALWAYS IREDA Investor presentation for Q3 and 9M FY24
Slide 2: Table of contents
ENERGY FOR EVER ONCE IREDA ALWAYS IREDA IREDA at a glance 02 RE Financing Environment Table of 03 Financial Highlights contents 04 Operational Performance 05 Asset Quality 06 Shareholder Outlook 1
Slide 3: IREDA at a glance
ENERGY FOR EVER ONCE IREDA ALWAYS IREDA IREDA at a glance 2
Slide 4: Introducing IREDA
ENERGY FOR EVER Introducing IREDA ONCE IREDA ALWAYS IREDA India’s largest Strategic role in GoI’s Committed to implementing pure-play green initiatives for promotion & Performance high standards of financing NBFC development of RE sector Track Record Corporate Governance Over 36 years of 75% own
Slide 5: IREDA's journey and key milestones
ENERGY FOR EVER IREDA’s journey and key milestones ONCE IREDA ALWAYS IREDA 1987 1997 2010 Incorporated as a public Signed loan agreement with Asian Upgraded from ‘Schedule C’ to limited company Development Bank for line of credit ‘Schedule B’ Central Public of $100 Million Sector Enterprise 2019 201
Slide 6: Comprehensive suite of financial products & services across renewable energy sectors
ENERGY FOR EVER IREDA has presence across renewable energy sectors with ONCE IREDA ALWAYS IREDA comprehensive suite of financial products & services Products offered from conceptualization Traditional RE technologies to commissioning Solar Wind Project Term Loans Energy Efficiency & Hydro Refinancin
Slide 7: Global & India RE financing landscape
Global & India RE financing landscape 6
Slide 8: Global RE financing environment | Trends & Growth Drivers
ENERGY FOR EVER ONCE IREDA ALWAYS IREDA Global RE financing environment | Trends & Growth Drivers Robust global environment for RE Global RE installed capacity in GW1 Global RE capacity growth, enabled by ambitious pledges addition of >500 GW in 2023 & record high-capacity addition 4500 4140 11000 …
Slide 9: India RE financing environment | Trends & Growth Drivers
ENERGY FOR EVER ONCE IREDA ALWAYS IREDA India RE financing environment | Trends & Growth Drivers Outlook for India’s RE sector is positive, Annual RE installed capacity with major policy announcements & increased by ~8% ambitious targets India RE installed capacity in GW1 200 500 …target of non-foss
Slide 10: Financial highlights
Financial highlights 9
Slide 11: Summary Highlights for Q3 | 9M FY24
ENERGY FOR EVER Summary Highlights for Q3 | 9M FY24 ONCE IREDA ALWAYS IREDA • For the period ended 9M FY24 is Rs. 3573 crores as against Rs. 2446 crores of 9M FY23 Income from Operations (up by 46%) • For the Q3 FY24 is Rs. 1253 crores as against Rs. 869 crores of Q3 FY23 (up by 44%) • For the perio
Slide 12: Key financials for Q3 | 9M FY24
ENERGY FOR EVER Key financials for Q3 | 9M FY24 ONCE IREDA ALWAYS IREDA Rs in crores Period 9M / Q3 FY24 Q2 FY24 Q3 FY23 9M FY24 9M FY23 For Q3/Q3 9M Revenue from operations 1253 1177 869 3573 2446 44% 46% Interest Expense 760 793 524 2317 1451 45% 60% Profit and Loss Operating Profit 386 380 235 12
Slide 13: Key Financial Ratios
ENERGY FOR EVER Key Financial Ratios: ONCE IREDA ALWAYS IREDA As at As at As at As at 31.12.2023 30.09.2023 31.03.2023 31.12.2022 Yield on Loan Assets (%) (gross) 9.87% 9.77% 9.68% 9.82% Average Cost of Borrowing (%) 7.82% 7.85% 7.84% 7.68% Interest Spread (%) 2.05% 1.92% 1.84% 2.14% Net Interest Ma
Slide 14: Financial Information
ENERGY FOR EVER Financial Information | ONCE IREDA ALWAYS IREDA Rs in crores Q3/23-24 Q3/22-23 23-24 22-23 Particulars (Growth %) (Growth %) (3 Month) (3 Month) (9Month) (9 Month) Revenue from operations 1253 869 44% 3,573 2,446 46% Other Income 0.34 0.31 11% 0.97 0.79 23% Total Income 1253 869 44%
Slide 15: Income Statement
ENERGY FOR EVER Income Statement ONCE IREDA ALWAYS IREDA Rs in crores Q3/23-24 Q3/22-23 23-24 22-23 Revenue from operations (Growth %) (Growth %) (3 Month) (3 Month) (9Month) (9 Month) Interest Income 1,208 847 43% 3,494 2,380 47% Fees and Commission Income 20 9 117% 41 25 61% Net gain/(loss) on fai
Slide 16: Expense Statement
ENERGY FOR EVER Expense Statement ONCE IREDA ALWAYS IREDA Rs in crores Q3/23-24 Q3/22-23 23-24 22-23 Expenses (Growth %) (Growth %) (3 Month) (3 Month) (9Month) (9 Month) Finance Cost 760 524 45% 2,317 1,451 60% Impairment on financial instruments 38 50 -23% -77 17 -560% Employees benefits expenses
Slide 17: Balance Sheet
ENERGY FOR EVER BALANCE SHEET Rs Rsinincrores crores ONCE IREDA ALWAYS IREDA Balance Sheet - Liabilities & Assets As on 31.12.23 As on 31.12.22 As on 31.03.23 EQUITY (a) Equity Share Capital 2,688 2,285 2285 (b) Other Equity 5,447 3,306 3651 Financial Liabilities (a) Derivative financial instruments
Slide 18: Operational performance
ENERGY FOR EVER ONCE IREDA ALWAYS IREDA Operational performance
Slide 19: Lending profile | Composition of outstanding loans
Lending profile | Composition of outstanding loans ENERGY FOR EVER ONCE IREDA ALWAYS IREDA Rs crores Public Private split of outstanding loans as on Sector As on 31st December 2023 As on 31st December 2022 As on 31st March 2023 31st Dec 23 Public Public 10,704 21% 11,086 29% 12,640 27% 21% Private 3
Slide 20: Lending profile | Well diversified assets with PAN India presence
ENERGY FOR EVER Lending profile | Well diversified assets with a PAN India Presence ONCE IREDA ALWAYS IREDA with lending across 24 states and 5 UTs Himachal Pradesh Uttarakhand 1868 3.70% 1642 3.25% Punjab Uttar Pradesh 582 1.15% 927 1.83% Rajasthan Sikkim 8443 16.70% 729 1.44% States with more than
Slide 21: Borrowing profile | Stable credit ratings enable cost-effective long-term borrowing
ENERGY FOR EVER Borrowing profile | Stable credit ratings have enabled access to ONCE IREDA ALWAYS IREDA cost-effective long-term sources of borrowing Domestic Credit Ratings for Long Term Borrowings “AAA” “AAA” “AA+” “AAA” Stable Stable Positive Stable 20
Slide 22: Borrowing profile
ENERGY FOR EVER Borrowing profile | ONCE IREDA ALWAYS IREDA Rs in crores Rs.41,700 cr. Outstanding Borrowings Rs.5152 cr. Borrowings as on 31st Dec 2023 Raised during 9M in the FY 2023-24 0000 Category Q3 FY24 Q3 FY23 Change (%) 9M FY24 9M FY23 Change (%) 8000 16883 Hedged Exposure of 6000 Foreign B
Slide 23: Asset Quality
6 m mai yi Yp) ily 2 Asset Quality
Slide 24: Stable asset quality with steady decline in NPA
ENERGY FOR EVER ONCE IREDA ALWAYS IREDA Rs in crores Stable asset quality with steady decline in NPA Gross NPA ( Rs in Crores) Net NPA ( Rs in Crores) 2,000 10.00% 1,500 1,608 1,513 1,486 8.00% 4.00% 1,456 1,465 1,500 6.00% 1,000 753 768 747 771 757 1,000 2.00% 4.00% 4.24% 500 2.03% 1.66% 1.61% 1.65
Slide 25: Shareholders' outlook
Shareholders' outlook 24
Slide 26: Shareholding pattern as on December 31, 2023
ENERGY FOR EVER ONCE IREDA ALWAYS IREDA Shareholding pattern as on December 31, 2023 SHAREHOLDER'S NAME % of holding FIIs & FPIs 1.88% President Of India (GoI) 75.00% Mutual Funds 2.87% SBI Life Insurance Co. Ltd 0.40% Public Sector Pension Investment Board - IIFL Asset 0.35% Management Limited Insu
Slide 27: Investor Resources
ENERGY FOR EVER Investor Resources ONCE IREDA ALWAYS IREDA Annual Report https://www.ireda.in/annual-reports Financial results https://www.ireda.in/financial-results Join us: @ireda.in Investor https://www.ireda.in/investor-grievance-officer Grievance www.ireda.in Contact us https://www.ireda.in/con
Slide 28: Thank you
ENERGY FOR EVER ONCE IREDA ALWAYS IREDA Thank you
Indian Renewable Energy Development Agency — Q3 FY24 Earnings Presentation on 6ix