In his address, Shri Das highlighted the significance of this AGM as the first one held after IREDA’s successful IPO in November 2023. He said, “IREDA achieved its highest-ever sanction of Rs. 37,354 crore and disbursement of Rs. 25,089 crore in FY24. The company also reported an all-time high Profit After Tax (PAT) of Rs. 1,252 crore for FY24, reflecting a nearly 45% increase over FY23. IREDA has published its annual audited financial results within 19 days, fastest in India’s Banking & NBFC space.”

Shri Das outlined IREDA’s strategic vision, emphasizing the focus on business development, borrowing optimization, and streamlining the operating model to support sustained growth. He underscored the importance of expanding into emerging sectors like e-mobility, ethanol, Green Hydrogen & Derivatives, utilizing international credit lines, and enhancing the borrower experience through digitization and automation.

IREDA’s loan book has grown at a compound annual growth rate (CAGR) of 33% in the last three years, with PAT increasing at a CAGR of around 41%. The company’s net worth stood at Rs.8,559 crore in FY24, boasting a robust Capital to Risk-weighted Assets Ratio (CRAR) of 20.11%. To meet the target of 500 GW of non-fossil fuel installed capacity by 2030, the country needs to increase its renewable energy capacity by 2.5 times. This will require an estimated investment of nearly Rs. 30 lakh crore. IREDA continues to play a pivotal role in financing this transition

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Achieved its best ever sales of 15.36 lakh tonnes in FY’24, registering a remarkable growth of 30% y-o-y.

• Registered record turnover at Rs. 1449.42 crore with a growth of 8% y-o-y.
• Achieved best ever production of Electrolytic Manganese Dioxide (EMD) higher by 28% y-o-y.
• Profit before tax (PBT) and profit after tax (PAT) of Rs. 387 crores and Rs. 293 crores respectively during FY’24, registering a growth of 16% and 17% respectively despite lower NSR on account of market conditions.

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“The proportion of completed and operational assets has been growing and this class has now emerged well as an investment class for fresh categories of investors, both domestic and global and more particularly global investors,” said Padmanabhan Raja Jaishankar, Managing Director, IIFCL, in a post earnings press conference.

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During January-March quarter of FY24, PFC’s consolidated net profit rose by 23.29% to Rs 7,556.43 crore, up from Rs 6,128.63 crore in the corresponding period of FY23. The company reported revenue from operations of Rs 24,141.40 crore, a 20.34% increase year-on-year.mCommenting on the financial performance, PFC chairperson and managing director Parminder Chopra said the strong results were backed by a 14% growth in the loan portfolio while maintaining strong asset quality.

Maximizing shareholder value remains a priority. Today, the final dividend of Rs 2.50 per share has been proposed by the Board. With this, the total dividend for FY 2024 would be Rs 13.50 per share," Chopra said. Emphasizing PFC’s leadership in India’s clean energy push, Chopra said, “Our renewable loan portfolio grew 25% year-on-year to over ₹60,000 crore, solidifying our position as the leading renewable lender in India.”

Looking ahead, PFC sees growth opportunities in both the power and infrastructure sectors. The company has diversified into newer areas, including financing infrastructure and airports, while boosting both thermal and renewable energy power sectors.

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1 . MUMBAI. PSBs to identify one ‘champion sector’ in their business plans; ET

2 . NEW DELHI. Public sector banks’ total profit crosses ₹1.4 lakh crore in FY24; Business Line

3 . HYDERABAD. L&T may exit Hyderabad metro as free bus rides hurt business – Times of India

4 . NEW DELHI. NTPC and NEEPCO entered into a collaboration through an MoU to enhance the training and capacity development.

5 . BILASPUR . एसईसीएल ने डी-कोल्ड भूमि को इको को पार्क बनाने का अभियान शुरू किया है . केनापारा और आनन्या वाटिका जैसे इको पार्क विकसित किए हैं।

7 . NEW DELHI. MNRE Secretary inaugurates India Pavilion at World Hydrogen Summit. PIB

8 . NEW DELHI. Advocates can’t be held liable under the Consumer Protection Act, says SC: Business Standard

9 . NEW DELHI. SAIL adopts HR policies to foster learning and development.

10 . NEW DELHI . PR Society Delhi delegation met Hero of Man ki Baat for KISHAN DRONE Dr Shankar Goenka; News Mantra

11 . NEW DELHI. Former Secretary, Justice, GOI , Shri SKG Rahate appointed as Chairperson-AERA:

12 . NEW DELHI. Former Director (Operation) NTPC Ramesh Babu V appointed as Member CERC.

13 . MUMBAI. Shri Harsh Baweja takes charge as Director (Finance), REC Limited.

14 . NEW DELHI. Mansi Tiwari Somvanshi joins Tata Communications as Global Head of Corporate Communications.

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Prasad took over the top role at the world’s largest coal miner from Pramod Agrawal, who stepped down on June 30 following his superannuation, according to an official statement.

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