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Shares of Indian Renewable Energy Development Agency (IREDA) have been on a downtrend over the last two years, falling more than 60% from its all-time high of ₹310, scaled on 15 July 2024.On Thursday, 1 October, the stock ended at ₹111 on the NSE, with a loss of 0.61%. At this price, the PSU stock is down 64% from its all-time high. Year-to-date, the stock is down 20%, while over the last 1 year, its losses have expanded to 28%.The PSU stock hit a 52-week low of ₹107.40 on 16 September this year and a 52-week high of ₹158.70 on 15 October last year.IREDA's share price debuted on the Indian bourses on 29 November 2023. At the current market price of ₹111, it is up 247% from its issue price of ₹32.Govt decision on top managementIn an exchange filing on Thursday, 1 October, IREDA said the government had approved the extension of Bijay Kumar Mohanty's additional charge as the company's chairman and managing director"..the Ministry of New and Renewable Energy approved the extension of the additional charge of the post of Chairman and Managing Director (CMD), to Dr. Bijay Kumar Mohanty, Director (Finance), IREDA, for a further period of three months, effective from 1 October 2026, or till the appointment of a regular incumbent, or until further orders, whichever is earliest," said the company.Mohanty has been handling the additional charge of IREDA's Chairman and Managing Director since July this year.IREDA's FY26 financial performanceAccording to the company's annual report for the financial year 2025-26 (FY26), its profit after tax (PAT) increased by 10% year-on-year (YoY) to ₹1,873 crore in the year.It also reported its highest-ever sanctions and disbursements of ₹51,883 crore and ₹34,946 crore, respectively, during the year. The company's gross loan portfolio reached ₹93,069 crore.The company said efficient deployment of funds and a favourable asset mix contributed to an increase in its net interest margin (NIM) to 3.65% in FY26 from 3.27% in FY25.Read all market-related news hereDisclaimer: This article is for educational purposes only and does not constitute investment advice. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
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