• Asset quality provisioning: IREDA maintained a conservative stance by making an 85% provision (₹572 crore) on its ₹672 crore Gensol exposure and a 60% provision (₹400 crore) on a ₹672 crore Andhra account. Management highlighted that cumulative lifetime write-offs remain at only ₹148 crore (0.08%) against ₹1.91 lakh crore sanctioned.
• Margins and borrowing: Net interest margins improved by 38 basis points, aided by a 56-basis-point reduction in the cost of borrowing to 7.05% in Q4. Management aims to maintain low funding costs through dynamic treasury operations, prepaying high-cost debt, and repo-linked borrowings.
• Emerging sector growth: The loan book expanded by 22%, with roughly 30% targeted toward high-margin emerging segments such as sustainable aviation fuel, battery manufacturing, and battery storage.
• Capital raising plans: IREDA intends to execute another tranche of qualified institutional placement (QIP) to enhance its capital base and drive future loan growth. Additionally, the company expanded its workforce from 160 to 225 employees to strengthen risk monitoring and treasury capabilities.