New Delhi: 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), setting a revenue from operations target of Rs 8,200 crore for FY 2025-26.
The MoU has been signed between MNRE's Secretary Santosh Kumar Sarangi and IREDA's Chairman & Managing Director (CMD) Pradip Kumar Das at Atal Akshay Urja Bhawan in New Delhi, in the presence of senior officials from both MNRE and IREDA.
For the current fiscal, IREDA has been assigned key performance parameters including return on net worth, return on capital employed, NPA to total loans, asset turnover ratio, and EBTDA, among others
In the previous fiscal year 2024-25, IREDA surpassed its performance target, posting a revenue from operations of Rs 6,743.32 crore against the set target of Rs 5,957 crore. The company has consistently demonstrated strong financial performance, earning an “Excellent” rating in MoU evaluation for four consecutive years since FY 2020-21.
Highlighting IREDA’s performance, CMD Pradip Kumar Das said, “With the hope for continuing excellent performance for this year also, we are committed to sustaining our track record of excellence. IREDA has earned an ‘Excellent’ rating in MoU performance for four consecutive years. For FY 2023-24, IREDA emerged as the top performer in the NBFC and Power sector and ranked among the top four CPSEs across sectors, as per the list of 84 CPSEs issued by the Department of Public Enterprises.”
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