TIDM89NA

RNS Number : 4156S

Indian Renewable Energy Dev. Agency

15 November 2021

November 15, 2021

Publication of Audited Half-yearly Financial Results for the Half-year ended 30.09.2021

The Board of Directors of Indian Renewable Energy Dev. Agency has approved the Audited Half-yearly Financial Results for the Half-year ended 30.09.2021 in its 345(th) Board meeting held on 12.11.2021 at its registered office in New Delhi.

The Half-yearly financial highlights for the H1 FY 2021-22 as against H1 FY 2020-21 are as follows:

   --    Profit Before Tax- INR 3548 Million as against INR 3294 Million (up by 7.7%) 
   --    Profit After Tax- INR 2999 Million as against INR 2066 Million (up by 45%) 
   --    Loan Disbursement- INR 42497 Million as against INR 25408 Million (up by 67%) 
   --    Loan Book- INR 288565 Million as against INR 249821 Million (up by 16%) 
   --    Net-worth- INR 33332 Million as against INR 27429 Million (up by 22%) 
   --    Net NPA reduction- 4.87% as against 5.79% (reduction by 16%)

The results are available on the Company's website through the following link: https://www.ireda.in/images/HTMLfiles/30_09_2021%20_Website.pdf

Chief Financial Officer

Dr. R C Sharma

Tel: +91 (11) 26717430

Fax: +91 (11) 26717416

E-mail: rcsharma@ireda.in

For investor enquiries please contact:

Mr. Surender Suyal, Company Secretary & Additional General Manager (Finance & Accounts)

Tel: +91 (11) 26717430

Email: ssuyal@ireda.in

NOTES TO EDITORS

About Indian Renewable Energy Development Agency (IREDA)

We are a 100% Government of India ("GoI") owned enterprise under the administrative control of the Ministry of New and Renewable Energy (the "MNRE) with more than 34 years of experience in the Indian renewable energy sector. We provide financial assistance to renewable energy projects, companies and manufacturers in India for power generation, equipment supply and fuel source projects including wind power, solar power, hydro power, biomass, co-generation and waste to energy as well as energy efficiency and conservation. Our comprehensive suite of financial products and services includes various fund-based financial products including long-term and short-term project and manufacturing loans, take out financing, bridge loans and bill discounting, Factoring for purchasing Receivables of Solar Power Developers payable by Eligible Entities, Top up Loans for easing out liquidity requirements and non-fund based assistance like performance guarantees, letters of comfort, letters of undertaking. In addition to our financial products and services, we have a fully functional 50 MW Solar Photovoltaic Project in 200 MW Kasaragod Solar Park in the state of Kerala.

We play a significant and strategic role in the GoI's RE target of 150 GW by 2022 and 450 GW by 2030. We have played a key role in various initiatives of GoI for the promotion and development of the renewable energy sector in India and have been involved in the development and implementation of various policies and structural and procedural reforms in the renewable energy sector. We have also been involved in various GoI programs for the development of renewable energy sector including the Wind GBI Scheme, the Solar GBI Scheme and the Solar Water Heating System Capital Subsidy Scheme.

In the budget announcement in February 2021, GoI has announced infusion of equity of Rs. 1500 crore in the company in FY 21-22 which is much needed for IREDA to continue playing pivotal role in the RE sector financing.

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