IREDA 's subsidiary Iggelfil has reached a significant milestone by approving its first international green energy loan. This development marks a pivotal moment for the renewable energy financing company as it expands its operations beyond domestic markets.

International Expansion Milestone

The approval of this loan represents Iggelfil's inaugural venture into international green energy financing. This strategic move demonstrates the subsidiary's commitment to supporting sustainable energy projects on a global scale and marks IREDA's broader expansion into international markets.

Strategic Significance

This first international loan approval positions Iggelfil as a key player in the global green energy financing sector. The development showcases the subsidiary's capability to evaluate and approve international renewable energy projects, expanding its operational scope beyond traditional domestic boundaries.

Green Energy Focus

The loan approval aligns with the growing global emphasis on renewable energy financing and sustainable development. By extending its services internationally, Iggelfil is contributing to the worldwide transition toward clean energy solutions and demonstrating its expertise in green energy project evaluation and financing.

This milestone represents a significant step forward for IREDA's subsidiary as it establishes its presence in the international green energy financing market and positions itself for future growth in the global renewable energy sector.

IREDA shares surged 4% following the release of strong Q3 FY26 financial results that demonstrated robust growth across multiple performance indicators. The Navratna PSU, which specializes in financing renewable energy projects, reached an intraday high of ₹142.30 compared to the previous day's closing price of ₹136.65.

Financial Performance Highlights

The company delivered impressive financial results for Q3 FY26, showcasing strong operational performance across revenue and profitability metrics.

The revenue growth underlines sustained credit demand across solar, wind, and other clean energy segments, reinforcing IREDA's position as a key financing backbone for India's energy transition. On a quarter-on-quarter basis, revenue grew 3.50% from ₹2,057.00 crore in Q2 FY26, while profit after tax increased 7.00% from ₹549.00 crore.

Market Performance and Valuation

With a market capitalization of ₹38,823.00 crore, IREDA shares are currently trading at a price-to-earnings ratio of 20.70, compared to the industry average of 20.40. The stock has delivered exceptional returns of 122% since its listing in December 2023, reflecting strong investor confidence in the renewable energy financing sector.

Diversified Loan Portfolio

IREDA's sector-wise loan book exposure as of December 31, 2025, demonstrates a well-diversified portfolio focused on renewable energy segments:

Solar thermal/SPV contributes the maximum share due to IREDA's significant presence in India's largest renewable energy sector and growing demand for solar thermal systems in industrial and commercial applications. The substantial allocation to state utilities provides stability through PSU-related counterparties, while the distribution across wind, hydro, and ethanol energy ensures sectoral diversification.

Asset Quality Concerns

Despite strong revenue and profit growth, the company faces challenges in asset quality management. Net NPAs increased 41% year-on-year to ₹1,448.00 crore, representing 1.68% of the loan book compared to 1.50% in the previous year. This uptick signals potential concerns in the company's recovery segment that warrant monitoring.