Interim report
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Ref No: CACS/Sectt./efile 4571 Date: January 09, 2026 नेशनल स्टॉक एक्सचेंज ऑफ इंिडया िलिमटेड, एक्सचेंज प्लाजा, सी/1,जी ब्लॉक, बांद्रा कु लार् कॉम्प्लेक्स, बांद्रा (ई),मुंबई -400051 National Stock Exchange of India Limited, Exchange Plaza, C/1, Block G, Bandra Kurla Complex, Bandra (E), Mumbai – 400051 बीएसई िलिमटेड, पहली मंिजल, िफरोज जीजीभॉय टावसर्, दलाल स्ट्रीट, काला घोड़ा, फोटर्, मुंबई - 400001 BSE Limited 1st Floor, Phiroze Jeejeebhoy Towers, Dalal Street, Kala Ghoda, Fort, Mumbai – 400001 Symbol- IREDA Scrip Code- 544026 ISIN:- INE202E01016 Subject: Outcome of Board Meeting held on January 09, 2026 Dear Sir/Madam, In compliance with the provision of Regulation 30, 33, 51 and 52 read with Schedule III of SEBI (LODR) Regulations, 2015, as amended, this is to inform you that the Board of Directors of Indian Renewable Energy Development Agency Limited (IREDA) in its meeting held Today, January 09, 2026, has inter- alia, approved the Standalone and Consolidated audited financial results of the Company for the quarter and nine months ended December 31, 2025. In this regard, a copy of the Standalone and Consolidated Financial Results along with the Statutory Auditor’s Report are enclosed herewith. The Board Meeting commenced at 05:15 P.M. and concluded at 07:10 P.M. कृ पया इसे अपने �रकॉडर् में लें।/You are requested to please take the same on record. धन्यवाद/Thanking You, भारतीय अ�य ऊजार् िवकास संस्था िलिमटेड के िलए । For Indian Renewable Energy Development Agency Limited एकता मदान/Ekta Madan कं पनी सिचव/Company Secretary & Compliance Officer Encl as above
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Shiv & Associates Chartered Accountants 103 & 105, Ajanta Market, Plot No. 1, Vardhaman Indraprastha Plaza, I.P. Extension, Partparganj, Delhi - 110092 Rao&Emmar Chartered Accountants 469, II Floor, Pocket 4, DDA LIG Flats Sector 11, Dwarka, New Delhi - 110075 Independent Auditor's Report on Standalone Interim Financial Results of Indian Renewable Energy Development Agency Limited for the quarter and nine month ended 31 December 2025 pursuant to the Regulation 33 and Regulation 52 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 (as amended). To The Board of Directors Indian Renewable Energy Development Agency Limited Report on the Audit of the Standalone Financial Results Opinion We have audit~d the accompanying standalone interim financial results of Indian Renewable Energy Development Agency Limited {"the Company"), for the quarter and nine months ended 31 December 2025, ("the Statement"), being submitted by the Company pursuant to the requirements of Regulation 33 and 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations"). In our opinion and to the best of our information and according to the explanations given to us, the standalone financial results: L is presented in accordance with the requirements of regulation 33 and 52 of the Listing Regulations in this regard; and IL gives a true and fair view, in conformity with the recognition and measurement principles laid down in the applicable Indian Accounting Standards, RBI guidelines_ and other accounting principles generally accepted in India, of the net profit and other comprehensiv~ income and other financial information for the quarter and nine months ended 31 December 2025. Basis for Opinion
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with these requirements and the Code of Ethics. We believe that the audit evidence obtained by us, is sufficient and appropriate to provide a basis for our opinion on the standalone financial results. Emphasis of Matter 1. The company has classified certain accounts required to be classified as stage III /Non Performing Assets (NP A) as stage II I Standard aggregating to ~ 400.24 Crores in terms of interim orders of Hon'ble High Courts. The statutory disclosures have been made accordingly. Therefore, interest income on such accounts becoming NPA in terms of prudential norms of Reserve Bank of India (RBI) has been recognized on collection basis and allowance for impairment loss has been made in these accounts accordingly. 11. As of 31 December 2024, the reported CRAR of the Company was 19.63 %, this calculation was based on a 50% risk weight assigned to commissioned renewable energy infrastructure project assets financed by the Company that had reached their commercial operations date (COD) and had been operational for over a year. However, effective from 31 March 2025, the company has applied a 100% risk weight to these assets. Accordingly, CRAR for the corresponding period as at 31 December 2024 has been restated to 15.52 %. This has been carried out by the management of the Company in accordance with the RBI directions. Our opinion on Standalone Financial Results is not modified in respect of these matters. Board of Directors' Responsibility for the Standalone Interim Financial Results These standalone financial results for the quarter and nine months ended 31 December 2025 have been prepared on the basis of the standalone interim financial statements. The Company's Board of Directors are responsible for the preparation and presentation of these Standalone Financial Results that give a true and fair view of the net profit and comprehensive income of the company and other financial information in accordance with the recognition and measurement principles laid down in the applicable Indian Accounting Standard prescribed under section 133 of the Act, read with the relevant rules issued thereunder, circulars guidelines and directions issued by the Reserve Bank of India ( 'RBI') from time to time ( 'RBI Guidelines' ) and other accounting principles generally accepted in India and in compliance with regulations 33 and 52 of the Listing Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities;_ selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation: and maintenance of adequate internal financial controls that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the standalone financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error. In preparing the Standalone interim financial results, the Board of Directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so. (
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The Board of Directors is also responsible for overseeing the financial reporting process of the company. Auditor's Responsibilities for the Audit of the Standalone Interim Financial Results Our objectives are to obtain reasonable assurance about whether the results as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with SAs will always ~etect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these standalone financial results. As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional scepticism throughout the audit. We also: • Identify and assess the risks of material misstatement of the standalone interim financial results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. • Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company's internal control. • Evaluate the appropriateness of accounting policies used and the reasonableness of accountjng estimates and related disclosures made by the Board of Directors. • Conclude on the appropriateness of the Board of Directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the ability of the company to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in-the standalone financial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the company to cease to continue as a gomg concern. • Evaluate the overall presentation, structure and content of the standalone financial results, including the disclosures, and whether the standalone financial results represent the underlying transactions and events in a manner that achieves fair presentation. Materiality is the magnitude of misstatements in the standalone fmancial results that individually or in aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the standalone financial results may be influenced. We consider quantitative materiality and qualitative factors in (i) planning the scope of our audit work and in evaluating the results of our work and (ii) to evaluate the effect of any identified mi~statements in the standalone fmancial results. 3
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We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. We also provide those charged with governance with a statement that we have ~omplied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards. Other Matters 1. The audit of standalone interim financial results for the quarter and nine months ended December 31,2024 was conducted by Mis Shiv & Associates, Chartered Accountants one of the joint auditors of the Company. They expressed unmodified opinion on those standalone financial results vide their audit report dated 09 January 2025. 11. As per past practice, in respect of loan assets, the Company has provided expected credit loss (ECL) as required under Ind AS 109 based on the ECL report submitted by an independent agency appointed by the Company, which inter alia includes assumptions based on technical parameters I certain aspects. The use of such report does not diminish management's responsibility for ECL estimation nor our responsibility to evaluate the assumptions, methodology and data used. For SHIV & ASSOCIATES Chartered Accountants Firm's Registration Number: 009989N ~gh.1 i!Sl~tsin 0 Membership No.098417 \1; UDIN: ~6oq 841 =t E -.r. Place :New Delhi Dated :09.01.2026 For RAO & EMMAR Chartered Accountants Firm's Registration Number: 003084S 4
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.. < •• >-:'.'q. Indian Renewable Energy Development Agency Limited CIN: L65IOODL1987G0!027265 Statement of Standalone Audited Financial Results for the quarter and nine months ended 31.12.2025 S.No.· : I l) ii) ui) iv) II III IV i) ii) iii) iv) v\ vi) vii) v VI vu VJII LX x XI (A} (B) XII XIII A B c Note: (1\ (2) ' " ~t:'\~~~.i>< .;- ~-"'.· ' ' ;/ , . •' Particlllars .' \•" ~ < ,. f " ' ' .. __ i : ' ,.: ... " <· Revenue From Operations Interest Income Fees and Commission Income Net gam/(loss) on Fair Value Changes Other Operating Income Total Revenue From Operations (Ij Other Income Total Income (I+II) Expenses Finance Cost Net Translation/ Transaction Exchange Loss/(Gain) Impairment on Financial Instruments Employee Benefits Expenses Depreciation, Amortization and Impairment Others Expenses Corporate Social Responsibility Expense Tota\ Expenses (IV) Profiti(Loss) Before Except10nal Items and Tax (IJHV) Except10nal Items Profitl(Loss) Before Tax (V-Vij Tax Expense (i) Current Tax (i1) Deferred Ta'\ Profit/( Loss) from Contmumg Operatmns (VII-VIII) Profit!(LossJ from Discontinued Operat10ns Profit/(Loss) for the period Other Comprehensi\'e. Income ( t) Items that will not be reclassified to Profit or Loss - Remeasurements of the Defined Benefit Plans:- (i1) Income Tax relating to items that will not be reclassified to Profit or Loss Subtotal (A) (i) Items that will be reclassified to Profit or Loss:- -Effective portion of gam/(loss) on hedging mstrument m Cash Flow Hedge Reserve (11) Income tax relatmg to items that will be reclass1fied to Profit or Loss Subtotal (B) Other Comprehensive Income (A+B) Total Comprehensive Income for the period (X+XD (Comprising Profit (Loss) and Other Comprehensive Income) Basic & Diluted Earnings per equity share of ~ 10 each (in ~) For Continuing Operations For Diseuntimied Operations For Continuing and Discontinued Operations Refer accomp3Ilying notes to the financial results. Earmng per share (EPS) for quarter :snot annualised I ''i"<:ft';, >~: ·;. ' ,,,·,. " f ··~·-·· .. ~ •:. ;>r,xu;zoz5 ;;;..-;< ' "(Audited l, ' 2,101.97 19.09 (0.24) 9.05 2,129.87 9.73 2,139.60 1,232.58 (20.52) 129.26 29.00 10.92 33.25 8.15 1,422.64 716.95 - 716.95 178.63 (46.59) 584.91 - 584.91 ( 10.09) 2.54 (7.55) (54.81) 13.80 (41.01) (48.56) 536.35 2.09 - 2.09 (~in Crores) ..... , . .. : /.ioo:D<,·.:-:,;:··r;:·'"'t';'~ ;,ft:::;,:,( ~fn_e'Md~t!iii ~iii!~~.:~;>,:,: ·:·:·,Vear ended - ,; .,~o,,09~z.oz,s· ~;; : 1' ,3~:hc202";~. I:~_' 3:1.12.202.!( :\. .. "s:ui.2024 > · '·• 31.03.2025 .·r:Audifod 1 . ,,· . : ' 'lA,udited~ •,, R" :.(A:uditeil'l'· .: »··(Audited'!· .. (Audited ·l · 2,030.10 1,654.45 6,040.86 4,714.25 6,575.39 12.12 16.46 46.54 67.16 95.71 7.58 (3.39) 16.84 9.76 13.13 7.08 30.93 29.80 47.11 58.18 2,056.88 1,698.45 6,134.04 4,838.28 6,742.41 0.57 0.53 22.53 1.80 12.37 2,057.45 1,698.98 6,156.57 4,840.08 6,754.78 1,212.96 1,032.20 3,663.81 3,037.31 4,141.03 13.71 (27.23) 9.46 42.22 41 .61 69.92 103 97 561.79 107.79 237.23 25.95 19.52 76.13 60.22 81.05 10.43 10.02 31.29 28.08 38.80 20.26 16.11 71 99 72.14 86.48 8.15 6.19 24.45 18.48 24.78 1,361.38 1,160.78 4,438.92 3,366.24 4,650.98 696.07 538.20 1,717.65 1,473.84 2,10380 - - - ' - 696.07 538.20 1,717.65 1,473.84 2,103.80 140.89 158.28 432.87 331.19 471.3 I 6.18 (45.46) (95.80) (54.16) (66.J l) 54900 425.38 1,380.58 1,196.81 1,698.60 - - - - - 549.00 425.38 1,380.58 1,196.81 1,698.60 (4.17) (1.96) (14.17) (16.91) (20 78) I 05 0.49 3.57 4.26 5.23 (3.12) (1.47) (10.60) (12.65) (15.55) 91.04 (32.51) 61.l2 12760 Ill 96 (22.92) 8.18 (15.38) (32. I I) (28.18) 68.12 (24.33) 45.74 95.49 83.78 65.00 (25.80) 35.14 82.84 68.U 614.00 399.58 1,415. 72 1,279.65 1,766.83 1.97 1.58 4.97 4.45 6.32 - - - - - 1.97 1.58 4.97 4.45 6.32 (3) The figure for the quarter ended 31 12.2025 and 31.12.2024 have been derived by deducting the audited figures of six months ended 30.09.2025 and 30.09.2024 from the figures for penod ended 31.12.2025 and 31.12.2024 respectively.
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Notes to the Standalone Audited Financial Results for the guarter and nine months ended 31.12.2025: - 1. The above financial results have been recommended l;Jy the Audit Committee of Directors and approved by the Board of Directors in their respective meetings held on 09.Ql.2026 and have been audited by the Joint Statutory Auditors of the Company M/s Shiv & Associates, Chartered Accountants and M/s Rao & Emmar, Chartered Accountants. 2. These Financial Results have been prepared in accordance with the n:cognition and measurement principles laid down in applicable accounting Standard specified under section 133 of the Act, read with the relevant rules issued thereunder, directions issued by the RBI from time to time and other accounting principles generally accepted in India and in compliance with the requirements of Regulation 33, 52 and other applicable regulations of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended). 3. Impairment allowance on loan assets is provided as per the board approved ECL methodology and calculations done by an independent agency along with management outlays wherever necessary. Cumulative impairment allowance (including standard loans and non-fund-based facilities) stands at~ 2,477.31 Crore as on 31.12.2025 (as on 31.12.2024 ~ 1,790.79 Crore) ({inCrore) ;, y,r,j,~l~t~~:,~:.;;,\,::~·.~:~"1':':~~'z,~:;~i~t~~~f;~r~~,': Loan assets 84,587.77 3,296.99 87,884.76 81,033.16 3,352.92 84,386.08 · 67,015.61 i,845.46, · 68,861.07 Impairment 619.54 1,848.89 2,468.43 610.83 1,726.23 2~337.06 954.84 821.51 1,176.35 Loss Allowance* Provisioning 0.73% 56.08% 2.81% o.75% 51.48% 2.77% 1.42% 44.52% 2.58% Coverage(%) *Excluding on non -fund based facilities 4. Interest income on credit impaired loan assets is not being recognized as a matter of prudence. 5. The Company's primary business is to provide finance for Renewable Energy & Energy Efficiency projects, and all activities are carried out in India and accordingly, there are no reportable segments as per Ind AS 108 Operating Segments. 6. Additional information as required under Regulation 52(4) of SEBI (Listing obligation and Disclosure Requirements) Regulation, 2015 is annexed as Annexure A. 7. Pursuant to Regulation 54 of SEBI (Listing obligation and Disclosure Requirements) Regulations 2015, for all secured non convertible debt securities issued by the Company outstanding as on 31.12.2025, security cover of 2.96 times has been maintained by way of charge on the receivables of the company. The security cover in the prescribed format has been annexed as Annexure B. 8. The company raises funds in different currencies through a mix of term loans from banks/ financial institutions/Govt. Agencies and issuance of non-convertible securities of different tenors through private placement. The issue proceeds have been fully utilized and there are no material deviation(s) from the stated object in the offer document/information memorandum of such non-convertible securities. During the quarter ended 31.12.2025, the company has not raised any funds through non-convertible securities. The statement as prescribed under regulation 52(7) & 52(7A) of SEBI (Listing Obligation and disclosure Requirements) Regulations, 2015, has been annexed at Annexure-C 9. There has been no default as on 31.12.2025 in the repayment of debt securities, borrowings and subordinated liabilities and the company has met all its debt servicing obligations, whether principal or interest, during the period. The format for disclosing outstanding default on loans and debt securities has been annexed at Annexure D. 10. There are no reportable cases of loans transferred/ acquired during the quarter ended 31 December 2025 (previous period: Nil) required to be reported under Master Direction - Reserve Bank of India (Non-Banking Financial Company - Financial Statements: Presentation and Disclosures) Directions, 2025. 11. Previous period figures have been re-arranged / re-grouped / re-classified wherever considered necessary to make them comparable with the current period's figures. In terms of our report of even date attached For Shiv & Associates, Chartered Accountants ICAI Regn. No.- 009989N Place: New Delhi Date: 09.01.2026 For Rao & Emmar Chartered Accountants .~:Reg: No.~ II ?- . Madhra Partner embership No. 098607 For and on behalf of the Board of Directors
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Disclosure under Regulation 52(4) ofSEBI <Listing Obligation and Disclosure Requirements) R.egul~tions. 2015. for the quarter ai.id nine months e~ded ~1.12.2025 . , s.1. Particulars ., oebt Equity Ratio1 Debt Service Coverage Ratio3 • Interest Service ·coverage RatJ.o3 Outst~ding Red'eemable Preference Shares Debenture R~~emption Reserve NetWorth 2 7 Net Profit After Tax Earning Per Share' Current Ratio3 l 0 Long Term Debt to Working Capital3 11 Bad Debts to Accounts Receivable Ratid 12 Current Liability Ratio' 13 Total Debts to Total Assets"' 14 Debtors Turnover3 15 inventory Tumover 3 16 Operating Man~m Percenf l 7 Net Profit M'argin Perce~t6 Particulars 18 Sector soec1fic eciuiv'atent ratios. (a) CRAR7 (b) Gross Non Performing Assets Ratios (c) Net Non Performi~g Assets Ratio9 times S.41 5.89 times times ~In Cro'res ~In CroreS Z In Cfores. ~ oer share times tunes times times times times times % % "'unit % % % Not Ai)plicable 'Not ApPiicable Nil 439.01 584.91 I 1.380.58 2.09 ' I 4.97 Not Applicable Not Applicable Not Applicable Not Applicable 0.79 Not Appl~cable Npt Applicable 33.21% I 27.63% 27.34% I 22.42% :,As at Pe;riod erided 31.12.2025 ' ' ,. ... "I As 11t)ietjmJ,¢Dded · Jo.09:2025' 19.54%1 20.10% 3.mi.I 3 97% 1.68%1 l.97% Not Applicable Not Applicable 428.69 9,842.07 425.38 I 1,196.81 L58 I 4.45 Not Applicable Not Applicable · Not Applicable Not Applicable 0.79 Not Applicable Not Applicable 3 t.66% I 30.42% 25.04% I 24.73% ·As 3tJPefiod,,enuea_~ " ', 31:12,2024 "· 15.52%1 15.84% I.04% Notes: Debt I Equity Ratio~ Total Debt I Net Worth Net Worth is calculated as defined in sector 2(57) of Companies Act, 2013. The Company is registered under the Reserve Bank of India Act. 1934 as Non-Banking Financial Company, hence these ratios are generally not applicable. Total debts to total assets= Total Debt I Total Assets Operating Margin· Net Operating Profit Before Tax I Total Revenue from Operations Net Profit Margin= Net Profit after Tax /Total Income CRAR =Total Capital Fund (Tier I Capital+ Tier II Capital) I Risk weighted assets, calculated as per applicable RBI guidelines. As of December 31., 2024, the reported CRAR of the Company was 19.63 %, comprising Tier I Capital of 17.80% and Tier II Capital of 1.83%. This calculation was based on a 50% risk weight assigned to comm1ssionedrenewable energy infrastructure project assets financed by the Company that had reached their commercial operations date (COD) and had been operational for over a year. However, effective March 31, 2025, the company has applied a 100% nsk weight to these assets. Accordingly, CRAR of corresponding period as at 31 12.2024 has been restated. Gross Non Performmg Assets Ratio = Gross Non Performing Assets I Gross Loan Assets. Net Non Performing Assets Ratio = Net Non Performing Assets I Net Loan Assets.
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1: PartiCu1a·rs '">" '·; I''· • ' 't -, ·- / ASSETS ';; "~ ·:DescliPfi~b:ofT r a;sset':~~~~,hi~h; : this· c,ertific8.te . reiatc '• t ':· ~ ;, '}V~ " ,,. '~,, "· '~. Property, Plant and Equipment I I Capital Work-in-Progress Ri~ht of Use Assets I I Goodwill Intangible Assets Intangible Assets under Development Investments Receivables Loans under Financing activities Inventories Trade Receivables Cash and Cash Equivalents Bank Balances other than Cash and Cash Equivalents Others Total LIABILITIES Debt securities to which this I I certificate pertains Other debt sharing pari-passu charge with above debt Other Debt Subordinated debt Borrowings Bank Debt Securities Others Trade Payables Lease Liabilities Provisions Others Total Cover on Book Value Annexure-B Disclosure on Security Cover (As per Regulation 54(3) of the Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulations, 2015) (fin c .. ores) Exclusive· Exdusi;~ ''. Pari-Pas~u; p . p ''.~; .: , < ,, p . p Ci ~ , ., ,, ,, Charge . 'Charge"" Charge. an- .assu •a!ge ',; _:in- assn" i~i;.~' , ,,, \.. , ".: , \ l _,,.,· .. , ' . " '\' ' •" _,'' /" ~·,' "''".' <;. De'1t for whic~ this 'certilicate eei~g _issued' I"·· '· '·l,>. I I Other· ·. : DebHor which Secu..;;\11• : this ~e1·tificate ,·-t, Debt ,-.; " b_ei~1g issued '<1< Book Yaliui.I Book:V'ii1\lef1~ (YES/NO) I I I I YES I I YES Notto be filled - Pari-Passu Security Cover Ratio I I I · , ". -._,, · ·,;,' , · • ., .ca:•·. ill"""ftiOol{vafoe'.·· '"·Assets share,d bY p~ri· ' 0 •• Other 1aSsets" Qi~:., l\f8r~~f 1 '. ~ifr~1'!!lg!/li~~!f: M~~-~t. ' for p';~i;~~~~~:ch~~e '. p~ssll deb~ ho~llel~. ";Wh.~~h. ~1tere'is ~iu:~ .. - V8,I~~;f~~ .,. V~J«e.-f?~ ~~~f~~l~~, , Val.u~ for . ,,_.- ass'e't~;i~h~~·rtia~~t: ,,.., , "; ·:fotal . (mclud~s. deb~.fo~·r'h~~h . _Passu cha~·ge~ , --.; ,, ..... "~~~~!~ · ·c~~~ge ~~~.~!s. wh~tt P~r:• .. pas~.0 , ;Va1Ue iS: iiol ·. r . , Vaill~ '~K+L+M t.~is ce~·tifica~e-~S,~~S~e~:~ , (ex~l~d~ng.i~e~-~ 'c~~~l!~~·.?1~: martret ~a~u~ i~_nof charge !- < asce~r(~i~~b1~·9}0 ' ' " "· ~ N). other deb! 'jivit~;~~r•pJl.~~u ;,cov~red m ·colli~m:: "Exc~~~·.ve, , <. a~ct:rfam~bJ~ 01:.,~ Assets '· . ' a'" 'IiCabte ~ ,: ~h~~gf~. "·" ·. 1 : F) x· ha~~~';,. ,~~.:--""~f pliCa~~~ -~'.,,;~ :~e!~i!4 t~ ,~:o~h~~'i? , e~~kiVfuu~ A, ,-,. _,,;·. . . , · .. 1 · ' ; .. .., . . . ' . , J .,.. ,,: :c·J J '· ., BookYalue "' ' ~ ', .. ' ,. 0 ' ;{ -~._, ""; 0 , \,'> .'< , "", ,, ·1·· \' I I 185.16 I I 185.16 I I 140.07 I I 140.07 4.34 4.34 1.038.92 1,038.92 85,989.o? 85,989.07 85,989.07 85,989.07 5.55 5.55 112.30 112.30 1.642.06 1,642.06 3,079.73 3,079.73 85,989.07 6,208.14 92,197.21 85,989.07 85,989.07 2,292.60 I I I I 2,292.60 3,257.26 3,257.26 26,757.57 14,519.30 41.276.87 26.365.37 26,365.37 3. 13 3.13 804.61. 804.61 18,197.37 18.197.37 29,050.17 63,147.04 92,197.21 2.96 We confirm that the company has complied with the covenants mentioned in the disclosure documents of the listed non-convertible debt securities for the period ended 31.12.2025. ~\.--·'
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Annexure-C Disclosure under Regulation 52(7) and Regulation 52(7 A) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 for the quarter ended December 31,2025 A. Statement of utilization of issue proceeds: I~ in Crore) ::;~;;;: .; -~ ~~r:,~· '.~- -~~!~::;:<. c •••. :.,!0~!~~e~;-~({ ~~!~f ~~;~~~~;!_>~~71t!:~;~;:,;~~~r~; t~~ji;~~;- Indian NA NA NA NA Nil NA NA NA Renew ab le Energy Develop ment Agency Limited (!REDA) B. Statement of Deviation: Name oflisted entity Mode of fund raising Type of instrument Date of raising funds Amount raised Report filed for quarter ended Is there a deviation/ variation in use of funds raised? Whether any approval is required to vary the objects of the issue stated in the prospectus/ offer document? If yes, details of the approval so required? Date of approval Explanation for the deviation/ variation Comments of the audit committee after review Comments of the auditors, if any Indian Renewable Energy Development gency Limited Objects for which funds have been raised and w-here there has beeH a deYiatioH/ variatioH, iH the follo·NiHg table: The funds raised through the Issue will be utilized for on lending towards the RE projects and other general corporate purposes. Deviation could mean: NA a. Deviation in the objects or purposes for which the funds have been raised. b. Deviation in the amount of funds actually utilized as against what was originally disclosed.
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Annexure D Disclosure for disclosing outstanding default on loans and debt securities under SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 for the quarter & nine months ended December 31,2025 1. Loans I revolving facilities like cash credit from banks I financial institutions A Total amount outstanding as on date 41,276.87 B Of the total amount outstanding, amount of default as on date 2. Unlisted debt securities i.e. NCDs and NCRPS A Total amount outstanding as on date B Of the total amount outstanding, amount of default as on date 3. Total financial indebtedness of the listed entity including short- term and long-term debt 1 1Details of total financial indebtedness of the Company : 1. Debt Securities 2. Borrowin s Other than Debt Securities 3. Subordinated Liabilities Total 73,192.10 28,657.97 41,276.87 3,257.26 73,192.10
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Indian Renewable Energy Development Agency Limited CIN: L65100DL1987GOI027265 Extract of Audited Financial Results (Standalone and Consolidated) for the quarter and nine months ended 31 December 2025 rm:oov HJA ev.1:o1~ ~in Crores) I<"' -~i:' ;. ·: ··;:.0:::" '.::.:':···•· .;·\; •·- ' .. -"'.,s}.i(n:d~iil~.e::, : P •·:.:: ·!. i:::;.' .·,:':!' .:-, ',' :, :·::·;·>:::, :-;:;·:r:. v/,• j('piisoud~ieq''f'".~·:::::.r:; 0: .''·''''.£,, i'I'; \, $: L ITotal Income from Operations 2. IN et Profit/ (Loss) for the period (before Tax, Exceptional and/ or Extraordinary items) 3. INet Profit/ (Loss) for the period before tax (after Exceptional and/ or Extraordinary items) 4. INet Profit/ (Loss) for the period after tax (after Exceptional and/ or Extraordinary items) 5. !Total Comprehensive Income for the period [Comprising Profit/ (Loss) for the period (after tax) and Other Comprehensive Income (after taxll 6. I Paid up Equity Share Capital (Face Value oH IOI- each) 7. I Reserves (excluding Revaluation Reserve) 8. I Securities Premium Account (net) 9. INet worth JO. IPaid up Debt Capital/ Outstanding Debt IL I Debt Equity Ratio 12. !Earnings Per Share (of Rs. JO/- each) (for continuing and discontinued operations) A. Basic: B. Diluted: 13. I Debenture Redemption Reserve Notes: l'.k, • ,\,:•.: 1 ::,Qu~rter,~pdJ!d' ,.,.. :;, ,, . ,,:;:",/Ni,~eMo:ntliseitMiJ. JJ"I)~~,2$ ,'. ·,,30-s~p,2$, .: ' . ~1Wei:',24:;; 1:'31~'Qec~is : ; ~l~J)e~-~it :, , <:A.~#ijeJN {'t~~~-iM>' (j\udit~•fl .·• t!H~~-u~\i>; Xfudi!~~~;.: 2,139.60 2,057.45 1,698.98 6,156.57 4,840.08 716.95 696.07 538.20 1,717.65 1,473.84 716.95 696.07 538.20 1,717.65 1,473.84 584.91 549.00 425.38 1,380.58 l,196.81 536.35 614.00 399.58 1,415.72 1,279.65 2,809.23 2,809.23 2,687.76 2,809.23 2,687.76 10,727.45 10,Il0.95 7,154.31 10,727.45 7,154.31 2,737.56 2,737.56 863.63 2,737.56 863.63 13,536.68 12,920.18 9,842.07 13,536.68 9,842.07 73,192.10 69,939.39 57,930.62 73,192. 10 57,930.62 5.41 5.41 5.89 5.41 5.89 2.09 1.97 L58 4.97 4.45 2.09 1.97 1.58 4.97 4.45 439.01 439.01 428.69 439.01 428.69 ·,.);e;ti;ende\I.' ; ,:Q~~it~r-,,ep(te(f;~;:" · Niite Mo.nihs'.efi~~~~. ~ 'Y<l'!(i\'e:n,~~d( i • i:3,1~1\!ar'2s;, '. :s1~p~~~i$~ :\31)-~•P"~S .·· .~ ·. •31"nec2~s::~::: ... ' '/;~~i~M'it~i}'} J';QXu~/I.~~> :· :b\~'dtte4J, i~*~i!!ie~), . :: , ,,( ~u~~t¢~)'.:~i:· -~: (~tiid.itiiit); ':;, :~ fu '>' ,~;,, >'" '.,, ~ . ' 6,754.78 2,139.92 2,057.85 6,157.61 6,755.69 2,103.80 717.20 696.39 1,718.43 2,103.54 2,103.80 717.20 696.39 1,718.43 2,103.54 1,698.60 585.16 549.33 1,381.36 l,<598.34 1,766.83 536.98 614.76 l,417.94 1,767.2 l 2,687.76 2,809.23 2,809.23 2,809.23 2,687.76 7,578.40 10,730.04 IO,Il2.92 10,730.04 7,578.78 864.26 2,737.56 2,737.56 2,737.56 864.26 10,266.16 13,539.27 12,922. 15 13,539.27 10,266.54 64,740.31 73,192.10 69,939.39 73,192.10 64,740.31 6.31 5.41 5.41 5.41 6.31 6.32 2.09 1.97 4.97 6.32 6.32 2.09 1.97 4.97 6.32 439.01 439.01 439.01 439.01 439.01 a) The above results have been recommended by the Audit Committee of Directors and approved by the Board of Directors in their respective meetings held on 09.01.2026 and have been audited by the Joint Statutory Auditors of the Company. b) The above is an extract of the detailed format of quarterly and nine months ended financial results filed with Stock Exchanges under Regulation 33 & 52 of the SEBI LODR Regulations. The full format of the said financial results are available on the website of the Company www.ireda.in/financial-results and on the websites of Stock Exchanges www.bseindia.com & www.nseindia.com. c) For the other line items referred in regulation 52(4) of the SEB! LODR Regulations, pertinent disclosures have been made to Stock Exchanges and can be accessed at www.bseindia.com and www.nseindia.com respectively, d) The Company has incorporated a wholly owned subsidimy company named as "!REDA Global Green Energy Finance IFSC Ltd" in IFSC (International Financial Services Centre)-GIFT City (Gujarat lntemational Finance Tee- City) for which registration ce1tificate to undertake activities as a finance company has been recieved on 18.02.2025 from IFSCA.. Inline consolidated financial results has been prepared w.e.f quarter ended 3 l.03.2025. Date: 09.01.2026 Place : New Delhi QR Code for Accessing financial Results For and on Behalf of Board of Directors Q~ Pradi1> Kumar Das Chainnan and Managing Director DIN No. 07448576
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1il'<d1ll 31~ ~ ~<t>ltl ~~ ~~~~ ENERGY FOR EVER ("1=1 I '! d 'fl '! Cf> I '! ""Cf>T y RI lSd I '"1) ES:.:J $~51 ~IREDA Indian Renewable Energy Development Agency Limited (A Government of India Enterprise) ONCEIREDAALWAYSIREDA ()l %1,vratna C<Ps<E) ~ <t>l>!lfoM : "i:f~ ~, CIJ'R"-4-~, ~ cmi, '+lffif ~ ~, c;frcfr x'R;-, ~ ~-110003, '+lffif ., Registered Office: 1st Floor, Core-4 ·~,East Court, India Habitat Centre,Lodhi Road, New Delhi -110003, INDIA ~/Phone: +91-11-24682206-19, ~/Fax: +91-11-24682202 Cl<!tlt~e: /Website: www.ireda.in -------··CIN: L65100DL1987GOI027265 •lllilllill•llll•••lliIIIll No. IREDA/FS/Q3FY26Results/V I iift" ~ f faflie;s I BSE LIMITED ~ 1<Cf ~ fcliWT I Listing & Compliances Department ~ -m- ~ ~ ~ /Bombay Stock Exchange Ltd. (BSE) I ~~'J..frq"CT"CRf I Phiroze Jeejeebhoy Towers ~~I Dalal Street, CflIBTtit?T, LPlt /Kala Ghoda ,Fort, · -400 001 I Mumbai -400 001 lFf ~ fafl!e;s I NSE LIMITED By Upload Dated: 09.01.2026 ~ 1<Cf ~ fcliWT I Listing & Compliances Department ' ~ -m-~~~I National Stock Exchange of India Ltd , ~~I Exchange Plaza, zjsrrwffi ¢Iic8CR"l I Bandra Kurla complex, zjsrr ~ / Bandra (East) , · -400 051 /Mumbai - 400 051 . ~= 31.12.2025 q;"-l-~ffn:rrtt l@';:itlfm .miRr~ttrn~ q~om"I - ~affi'R~ f4q~on ~ a'l.~11 qflw ft'q1i ~ tilifoTr Subject: Financial Results for the quarter & nine months ended 31.12.2025 - Declaration on Audit Report on Standalone Financials Statements "'ltn&tU/ ~ I Madam I Sir , "ffi11 "fuifi ~ lq!{~Cl?d 1'3fl ip- ~if, fum tRT&IT ~ ip- ~~ ip- Qcp e)cp'( 01 ip- ~'C.f if, "[fQ ~ Cffl" umfi i fcp 31.12.2025 cm- ~ ~ "Q"Ct ;fl- ~ Cffl" '3fCffu ip- ~ ~3IBR ~ fclcrom' lR fum tRT&rr ftq)t if ~ a>TRlfQ5¢£<HI ~ i I \3Cffi '3fCfRr ip- ~ qf{o114'i ip- m~ fcffiFr &gr tRT&rr ftq)t ~ Cffl" ~ i 11 In compliance with the applicable SEBI requirements related to the disclosure of the impact of the Audit Qualifications, it is to confirm that the Audit Report on Standalone Financial Statements for the quarter and nine months ended 31.12.2025 contains no qualifications. The detailed Audit Report has been provided with the financial results for the said period. ~I Thanking You , ~I Yours faithfully ~·le-~ ~-~· ~) I (S.K. Sharma) <Pl4<Plfl Pl&S<l<P (Fcnn ) I Executive Director (F&A) qffq)-~c; <t>1'1lfcl>!I : cfRRr ~, m ~ ~, ~ CfiTl'IT ~, ~ ~-110066, '+lffif Corporate Office : 3rd Floor, August Kranti Bhawan, Bhikaiji Cama Place, New Delhi - 110066, INDIA ~/Phone: +91-11-26717401-12, ~/Fax: +91-11-26717416 t-i)(;r/E-mail: cmd@ireda.in ~ ~: \1"1~~~ ~,~-II, ~if,~~, ~ ~ ""11R, ~ ~-110003, 'liffi'f Business Centre : NBCC Complex, Block -II, Plate-B, 7th Floor, East Kidwai Nagar, New Delhi -110023, INDIA ~"X'l'ffl'>T/Phone: +91-2460 4157, 24347700 - 2434 7799 FOLLOW US : In @IREDALimited lt@IREDALtd @) @iredaofficial
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Shiv & Associates Chartered Accountants 103 & 105, Ajanta Market, Plot No. 1, Vardhaman Indraprastha Plaza, I.P. Extension, Partparganj, Delhi - 110092 Rao&Emmar Chartered Accountants 469, II Floor, Pocket 4, DDA LIG Flats Sector 11, Dwarka, New Delhi - 110075 Independent Auditor's Report on Consolidated Interim Financial Results of Indian Renewable Energy Development Agency Limited for the quarter and nine months ended 31 December 2025 pursuant to the Regulation 33 and Regulation 52 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 as amended To The Board of Directors Indian Renewable Energy Development Agency Limited Report on the Audit of the Consolidated Interim Financial Results Opinion We have audited the accompanying consolidated interim financial results of Indian Renewable Energy Development Agency Limited ('the Holding Company') and its Subsidiary ( Holding Company and its Subsidiary together referred to as "the Group") for the quarter and nine months ended 31 December 2025, ("the Statement"), attached herewith, being submitted by the Holding Company pursuant to the requirements of Regulation 33 and 52 regulations of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations"). In our opinion and to the best of our information and according to the explanations given to us and based on the consideration of reports of other auditors on separate audited financial statements/financial results/financial information of the subsidiary, the aforesaid consolidated interim financial results: a. Include the financial results of the following entities: • Indian Renewable Energy Development Agency Limited (Parent Company) • IREDA Global Green Energy Finance IFSC Limited (Subsidiary Company) b. are presented in accordance with the requirements of regulation 33 and 52 of the Listing Regulations in this regard; and c. gives a true and fair view, in conformity with the recognition and measurement principles laid down in the applicable Indian Accounting Standards, RBI guidelines and other accounting principles generally accepted in India, of the consolidated net profit and consolidated other comprehensive income and other financial information of the group for the quarter and nine months ended 31 December 2025. 1
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Basis for Opinion We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Companies Act, 2013, as amended ("the Act") issued by the Institute of Chartered Accountant of India (ICAI). Our responsibilities under those Standards are further described in the 'Auditor's Responsibilities for the Audit of the Consolidated interim financial results' section of our rep01i. We are independent of the Group in accordance with the "Code of Ethics" issued by the ICAI together with ethical requirements that are relevant to our audit of the Statement under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and ICAI's Code of Ethics. We believe that the audit evidence obtained by us and other auditors in terms of their reports referred to in "Other Matter" paragraph below, is sufficient and appropriate to provide a basis for our audit opinion. Emphasis of Matter i. The holding company has classified certain accounts required to be classified as stage III /Non Performing Assets (NP A) as stage II I Standard aggregating to ~ 400.24 Crores in terms of interim orders ofHon'ble High Courts. Statutory disclosures have been made accordingly. Therefore, interest income on such accounts becoming NP A in terms of prudential norms of Reserve Bank oflndia (RBI) has been recognized on collection basis and allowance for impairment loss has been made in these accounts accordingly. IL As of 31 December 2024, the reported CRAR of the Company was 19.63 %, this calculation was based on a 50% risk weight assigned to commissioned renewable energy infrastructure project assets financed by the Company that had reached their commercial operations date (COD) and had been operational for over a year. However, effective from 31 March 2025, the company has applied a 100% risk weight to these assets. Accordingly, CRAR for the corresponding period as at 31 December 2024 has been restated to 15.52%. This has been carried out by the management of the Holding Company in accordance with the RBI directions. Our opinion on Consolidated Interim financial results is not modified in respect of these matters. Management's Responsibilities for the Consolidated Interim Financial Results The statement has been prepared on the basis of the consolidated interim financial statements. The Board of Directors of the Holding Company are responsible for the preparation and presentation of this statement that give a true and fair view of the consolidated net profit, other comprehensive income and other financial information of the Group in accordance with the applicable Indian Accounting Standards (IND AS) prescribed under Section 133 of the Act read with relevant rules issued thereunder, the circulars, guidelines and direction issued by the Reserve Bank of India (RBI) from time to time ("RBI Guidelines") and other accounting principles generally accepted in India and in compliance with the regulations 33 and 52 of the Listing Regulations. The respective Board of Directors of the companies included in the Group are responsible for maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the group and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the respective consolidated interim financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error, which have been used for the purpose of preparation of Statement by the Management and Directors of the Holding company, as aforesaid. 2
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In preparing the Statements, the respective Board of Directors of the companies included in the Group are responsible for assessing the ability of the Group to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Group or to cease operations, or has no realistic alternative but to do so. The respective management of the companies included in the Group are responsible for overseeing the financial reporting process of the Group. Auditor's Responsibilities for the Audit of the Consolidated Interim Financial Results Our objectives are to obtain reasonable assurance about whether the statement as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the Statement. As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional scepticism throughout the audit. We also: • Identify and assess the risks of material misstatement of the statement, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. • Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. but not for the purpose of expressing an opinion on the effectiveness of such control. • Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors. • Conclude on the appropriateness of the Board of Directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the ability of the Group to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the Consolidated interim financial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the group to cease to continue as a going concern. • Evaluate the overall presentation, structure and content of the Consolidated interim financial results, including the disclosures, and whether the Consolidated interim financial results represent the underlying transactions and events in a manner that achieves fair presentation. • Obtain sufficient appropriate audit evidence regarding the financial information of the entities within the Group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the audit of the financial statements of such entities included in the consolidated financial statements of which we are the independent auditors. For the other entity included in the consolidated financial statements, which have been audited by other auditors, such other auditors remain responsible for the direction, supervision and performance of the audits carried out by them. We remain solely responsible for our auqit opinion. 3
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Materiality is the magnitude of misstatements in the Consolidated Financial Statements that individually or in aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the Consolidated Financial Statements may be influenced. We consider quantitative materiality and qualitative factors in (i) planning the scope of our audit work and in evaluating the results of our work and (ii) to evaluate the effect of any identified misstatements in the Consolidated Financial Statements. We communicate with those charged with governance of Holding Company and Subsidiary regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards. We also performed procedures in accordance with the circular issued by the Securities and Exchange Board oflndia under Regulation 33(8) of the Listing Regulations, to the extent applicable. Other Matters 1. The statement include the audited financial results of one subsidiary, whose financial statements reflect total assets of~ 30.40 crores as at 31 December 2025, total revenue of~ 0.08 crores, and net profit of < 0.78 crores for the quarter and nine months ended 31 December 2025, other comprehensive income < 1.44 crores and net cash inflow < 2.35 crores as considered in the consolidated interim financial results, which have been audited by their respective independent auditors. The independent auditors' reports on financial statements of this entity have been furnished to us and our opinion on the consolidated interim financial results, in so far as it relates to the amounts and disclosures included in respect of this entity, is based solely on the report of such auditors and the procedures performed by us are as stated in paragraph above. n. As per past practice, in respect of loan assets, the holding company has provided an expected credit loss (ECL) as required under Ind AS 109 based on the ECL report submitted by an independent expert appointed by the holding company, which inter 1 alia includes assumptions based on technical parameters I certain aspects. The use of such expert does not diminish management's responsibility for ECL estimation nor our responsibility to evaluate the assumptions, methodology and data used. For SHIV & ASSOCIATES Chartered Accountants Firm's Registration Number: 009989N Partner Place: New Delhi Date: 09-01-2026 For RAO & EMMAR 4
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lndlan Renewable Energy Development Agency Limited CTN: L65 l OODLI 987GOI027265 Statement of Consolidated Audited Financial Results for the quarter and nine months ended 31.12.2025 .. S.No. ,ParticU-~a~~?.::,: 0 '· I Reveilue From Operations i) Interest Income ii) Fees and Commission Income iii) Net gam/(loss) on Fair Vah.ie Changes iv) Other Operating Income Tota'! Revenue From Operations (I) II Other Income III Total Income (I+II) IV Expenses i) Finance Cost ii) Net Translation/ Transaction Exchange Loss/( Gain) m) Impalfment on Financial Instrwnents iv) Employee Benefits Expenses v) Depreciation, Amortization and Impairment v1) Others Expenses vii) Corporate Social Responsibility Expense Total Expenses (IV) V Profit/(Loss) Before Exceptional Items and Tax (III-IV) VI Exceptional Items VII Profit/(Loss) Before Tax (V-VI} VIII Tax Expense (i) Current Tax (ii) Deferred Tax IX Profit/(Loss) from Contmumg Operations (VII-VIII) Profit/(Loss) from Discontinued Operations X Profit/(Lossj for the period XI Other Comprehensive Income (A) (i) Items that will not be reclassified to Profit or Loss - Remeasurements of the Defined Benefit Plans:- (1i) Income Tax relating to items that will not be reclassified to Profit or Loss Subtotal (A) (B) (i) Items that will be reclassified to Profit or Loss ·- -Effective portion of gain/(Joss) on hedging instrument m Cash Flow Hedge Reserve -Translation Reserve on Consohdat10n (ii) Income tax relating to items that will be reclassified to Profit or Loss Subtotal (B) Other Comprehensive Income (A+B) XII Total Comprehensive Income for the period (X+XI} (Comprising Profit (Loss) and Other Comprehensive Income) XIII Basic & Diluted Earnings per equity share of t 10 each (in t) A For Continuing Operations B For Discontmued Operatmns C For Continuing and Discontinued Operations Note: (1) (2) Refer accompanying notes to the financial results. Earning per share (EPS) for quarter is not annualised. ,, Quarter ended ... ~ , ~~ ,,., ;31.,12.2025 • . • .·; J0.09.2025 .• • ' (Audited I. 2,102.29 2,030.43 19.09 12.19 (0.24) 7.58 9.05 7.08 2,130.19 2,057.28 9.73 0.57 2,139.92 2,057.85 1,232.58 1,212.97 (20.52) 13.71 129.26 6992 29.01 25.95 10.95 10.44 33.29 20.32 8.15 8.15 1,422.72 1,361.46 7i7.20 696.39 717.20 696.39 178.62 140.88 (46.59) 6.18 585.16 549.33 585.16 549.33 (10.09) (4.17) 2.54 I.05 (7.55) (3.12) (54.81) 91 04 0.38 0.43 13.80 (22.91) (40.63) 68.56 (48.18) 65.43 536.98 614.76 2.09 1.97 2.09 I.97 l" in Crores} Year ended 31:p.202l! •• 31.0~.2025 . • .(Audited ·t . · . (ktidit&h c.:\udited 1 ·· 1,654.45 6,041.82 4,714.25 6,576.30 16.46 46.62 67.16 95.71 (3.39) 16.84 9.76 13 13 30.93 29.80 47.11 58.18 1,698.45 6,135.08 4,838.28 6,743.32 0.53 22.53 1.80 12.:37 1,698.98 6,157.61 4,840.08 6,755.69 1,032.20 3,663.82 3,037.31 4,141.05 (27.23) 9.46 42.22 41 61 103.97 561.79 107.79 237.23 19.52 76.19 60.22 81.66 10.02 31.35 28.08 38.87 16.11 72.12 72.14 86.95 6.19 24.45 18.48 24.78 1,160.78 4,439.18 3,366.24 4,652.15 538.20 1,718.43 1,473.84 2,103.54 538.20 1,718.43 1,473.84 2,103.54 158.28 432.87 331.19 471.31 (45.46) (95 80) (54.16) (66.11) 425.38 1,381.36 1,196.81 1,698.34 425.38 1,381.36 1,196.81 1,698.34 (1.96) (14.17) (16.91) (20. 78) 0.49 3.57 4.26 5.23 (1.47) (16.60) (12.65) (IS.SS) (32.51) 61.12 127 60 lll.96 1.44 0.64 8.18 (15.38) (32.11) (28.18) (24.33) 47.18 95.49 84.42 (25.80) 36.58 82.84 68.87 399.58 1,417.94 1,279.65 1,767.21 1.58 4.97 4.45 6.32 1.58 4.97 4.45 6.32 (3) The figure for the quarter ended 31.12.2025 and 31.12.2024 have been derived by deducting the audited figures of six months ended 30.09.2025 and 30.09.2024 from the figures for period ended 31 12.2025 and 31.12.2024 respectively.
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Notes to the Consolidated Aud.i~ed Financial Results for the quarter and nine months ended _31.12.2025: - 1. The above financial results have been recommended by the Audit Committee of Directors and approved by the Board of Directors in their respective meetings held on 09.01.2026 and have been audited by the Joint Statutory Auditors of the Company M/s Shiv & Associates, Chartered Accountants and M/s Rao & Emmar, Chartered Accountants. 2. These Financial Results have been prepared in accordance with the recognition and measurement principles laid down in applicable accounting Standard specified under section 133 of the Act, read with the relevant rules issued thereunder, directions issued by the RBI from time to time and other accounting principles generally accepted in India and in compliance with the requirements of Regulation 33, 52 and other applicable regulations of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended). 3. The Company has incorporated a subsidiary at IFSC GIFT City, Gujarat, for which registration certificate to undertake activities as a finance company has been received on 18.02.2025 from IFSCA. Consolidated financial results have been prepared w.e.f. quarter ended 31.03.2025 in accordance with the Indian Accounting standard 110: consolidated Financial Statements. 4. Impairment allowance on loan assets is provided as per the board approved ECL methodology and calculations done by an independent agency along with management outlays wherever necessary. Cumulative impairment allowance (including standard loans and non-fund-based facilities) stands at~ 2,477.31 Crore as on 31.12.2025 (as on 31.12.2024 ~ 1,790.79 Crore) . ,_. :Pfu;f.i~s (•'. ; .... ,, :, ~"' ~ ~ " Loan assets Impairment Loss Allowance• Provisioning Covera e(%) ."Stage',., Stage'ffi, Totcil ' I&.Il . 84,587.77 3,296.99 87,884.76 619.54 1,848.89 2,468.43 0.73% 56.08% 2.81% •excluding on non -fund based facilities .. Stag'e, '.J.&iI 81,033.16 610.83 0.75% (~in Crore) . s,ag~;;, . ::-in, .. " ,Total . 3,352.92 84,386.08 67,015.61 1,845.46 68,861.07 1,726.23 2,337.06 954.84 821.51 1,776.35 51.48% 2.77% 1.42% 44.52% 2.58% 5. Interest income on credit impaired loan assets is not being recognized as a matter of prudence. 6. The Company's primary business is to provide finance for Renewable Energy & Energy Efficiency projects, and all activities are carried out in India and accordingly, there are no reportable segments as per Ind AS 108 Operating Segments. 7. Additional information as required under Regulation 52(4) of SEBI (Listing obligation and Disclosure Requirements) Regulation, 2015 is annexed as Annexure A. 8. There are no reportable cases of loans transferred/ acquired during the quarter ended 31 December 2025 (previous period: Nil) required to be reported under Master Direction - Reserve Bank of India (Non-Banking Financial Company -Financial Statements: Presentation and Disclosures) Directions, 2025. 9. Previous period figures have been re-arranged / re-grouped / re-classified wherever considered necessary to make them comparable with the current period's figures. In terms of our report of even date attached Place: New Delhi Date: 09.01.2026 For Rao & Emmar Chartered Accountants ICAIRegn.No.003084S For and on behalf of the Board of Directors Pradip Kumar Das ~-...-r.;~i.fm:an & Managing Director DIN No. 07448576
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SL IO II 12 13 14 15 16 17 Notes: Disclosure under Regulation 52C4l of SEBI <Listing Obli 0 ation and Disclosure Requirements) Regulations, 2015 for the quarter and nine months ended 31.12.2025 Particulars Ullit<: ·As at I for. the.quarted~n'cfed~ ~As,at I fof tbe·p~riod eride'd0 ; M:s,af//for~the;q~·~rter'eri'ded:• . A\~r' fo3r1t •. lil·,2e.'p2, 0~24rib~,en~~-~, · . •· 31.12.2025 , • 31.rn2025 . · " , . :!:i:12:io2i . • · .·· .. Debt E uity Ratio1 times 5.41 Debt Servi~e Coverage Ratid times Not Applicable Interest Servi~e Coverage Ratid times Not Applicable Outstanding Redeemable Preference Shares ~In Crores Nil Debenture Redemption Reserve ~In Crores 439.01 NetWorth 2 ~In Crores 13.539.27 Net Profit After Tax ~InCron::s 585 16 1,381.36 425.38 Earning ·Per Share ~per share 2.09 4.97 L58 Current Ratio3 times Not Applicable Long Term Debt to Working Capital times Not Applicable Bad Debts to Accounts Receivable Ratic~ times Not Applic<1;ble Current Liabilit RatiJ times Not Apphcable Total Debts to Total Assets" times 0.79 Debtors Turnover~ times Not Applicable Inventory Tumovef times Not Applicable Operating Margin Percenf % 33.21% 27.64% 31.66% Net Profit Margin Percenf % 27.35% 22.43% 25.04% Debt I Equity Ratio= Total Debt I Net Worth Net Worth is calculated as defined in sector 2(57} of Companies Act, 2013 The Company 1s registered under the Reserve Bank oflndia Act, 1934 as Non-Banking Financial Company. hence these ratios are generally not applicable. Total debts to total assets= Total Debt I Total Assets Operating Margin - Net Operating Profit Before Tax I Total Revenue from Operations Net Profit Margin= Net Profit after Tax I Total Income Gross Non Performing Assets Ratio =Gross Non Performing Assets I Gross Loan Assets Net Non Performing Assets Ratio= Net Non Performing Assets I Net Loan Assets 5.89 Not Applicable Not Applicable Nil 428.69 9.842.07 1,196.8! 4.45 Not Applicable Not Applicable Not Applicable Not Applicable 0.79 Not Applicable Not Applicable 30.42% 24.73%
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'"II'{ d) ll 3Ten:J ttiUlf fq ct> I ti ~ ~flt~~ ENERGY FOR EVER ('1=1 I 'I! a 'fl 'I! <t> I 'I! <PT y RI ts0 I ""I) E:J s:)s1 ~IREDA Indian Renewable Energy Development Agency Limited (A Government of India Enterprise) ONCE /REDA ALWAYS /REDA (II. Ka'llfitaa 01?!FJ ~ <t>1;qfo1;q = ~ ~. Cl'>lx-4-1{, ~ q;li, 'l'fRff ~ cfA:::, ~ m, ~ ~-110003, 'l'fRff Registered Office: 1st Floor, Core-4 'fl:., East Court, India Habitat Centre,Lodhi Road, New Delhi-110003, INDIA ~/Phone: +91-11-24682206-19, ~/Fax: +91-11-24682202 ~iSffll~c/Website: www.ireda.in No. IREDA/FS/Q3FY26Results/V I ifl' ~ f ~.~;:o I BSE LIMITED ~ ~ ~ fct'J..fJlT I Listing & Compliances Department ~ ~ ~ ~ ~ /Bombay Stock Exchange Ltd. (BSE) I fW&~crcffi I Phiroze Jeejeebhoy Towers ~*I Dalal Street, ~~, 1P1t I Kala Ghoda ,Fort, ~ -400 001 I Mumbai -400 001 CIN: L65100DL1987GOI027265 lf-i~t !<:'!! __ / NSE LIMITED By Upload Dated: 09.01.2026 ~~ ~fct'J..fJlT /Listing & Compliances Department I ~~~~~I National Stock Exchange of India Ltd , ~~I Exchange Plaza, ~ wffi ¢'f~<ru I Bandra Kurla complex , ~ ~ I Bandra (East) , ~ -400 051 /Mumbai - 400 051. ~: 31.12.2025 q;"\' rn ttn:rmi l@ ;ft" lfIW aJClftl ~ ~ fcnfttJ q~ Olllf - cjsfl1fa8ea fcnfttJ {ijq'( on 'Q"(" a& 1 q fl arr fttnt 'Q"(" tfilsrorr Subject: Financial Results for the quarter & nine months ended 31.12.2025 - Declaration.on Audit Report on Consoldiated Financials Statements lfi$)qtll/~ I Madam I Sir , 'ffi11~ 31IC1*!Cf5a1'3ff ~ ~il,, ~-crttarr~~>r'J..!TCf~ 1'1Cf5tlCf5'!01 ~~il, ~~Cfft"urrcft~fcp 31.122025 Cf5Tm~-~ -;fr-l=IW Cfft" ~~~ <i>'tl1Rt\%c: ~~-qx~llttarrftmtil~ EP'iRlfQ5if;~1'"'8 ;fflf ~ 1 \3Cffi ~ ~ ~ qf{uw•li ~ ~ ~ ~ llttarr ftmt >mR Cfft" ~ ~ 11 In compliance with the applicable SEBI requirements related to the disclosure of the impact of the Audit Qualifications, it is to confirm that the Audit Report on Consoldiated Financial Statements for the quarter and nine months ended 31.12.2025 contains no qualifications. The detailed Audit Report has been provided with the financial results for the said period. ~/Thanking You , ~/Yours faithfully , ~·fc~~ ~-~- ~) I (S.K. Sharma) ct>ltfct>lfl Pt&!(lct> cfcffi)) I Executive Director (F&A) <t>14Y~e <t>t4f<.>t"l : TilmT ~. 3lTffif m '+fCl'l, ~ <ITT11f ~, ~ ~-110066, 'l'fRff Corporate Office : 3rd Floor, August Kranti Bhawan, Bhikaiji Cama Place, New Delhi - 110066, INDIA ~/Phone: +91-11-26717401-12, ~/Fax: +91-11-26717416 ~-i\c;r/E-mail: cmd@ireda.in ~ m: q'i~-Ri~ ~,~-II, ~olr, TcIT ~, ~ ~ 'l'R, ~ ~-110003, 'l'JRCf Business Centre : NBCC Complex, Block-II, Plate-B, 7th Floor, East Kidwai Nagar, New Delhi -110023, INDIA ~~'l'Tf'>T/Phone: +91-2460 4157, 24347700 - 2434 7799 FOLLOW US : II @IREDALimited •@IREDALtd @) @iredaofficial