Shares of Indian Renewable Energy Development Agency (NSE: IREDA) slumped nearly 6% on Friday, closing at ₹160.00. The stock, which had climbed above ₹170 earlier in the week, reversed sharply on heavy volumes, marking its steepest one-day decline in over two months.
IREDA posted a net profit of ₹290 crore for Q1 FY26, a significant decline from ₹454 crore a year earlier, representing a 36% drop. Revenue growth was largely flat, but the real concern came from a deterioration in asset quality.
Sources close to the matter suggest that some loans tied to Gensol Engineering may be at risk of turning non-performing. While IREDA hasn’t officially named any accounts, the lack of transparency is fueling speculation that clean energy loans are beginning to stress the lender’s balance sheet.
NPAs and Gensol Concerns Deepen
Market chatter around IREDA’s exposure to Gensol Engineering has grown louder. With rising interest burdens across the renewables sector and delayed project cash flows, analysts worry IREDA may soon be forced to increase provisions, or worse, write down bad loans.
If Gensol’s restructuring talks collapse, the hit to IREDA’s loan book could be significant, This is less about earnings and more about visibility and confidence.
IREDA Share Price Technical Breakdown
IREDA has now pulled back nearly 8% from its recent high of ₹173.51, closing the week right on the edge of major support.
- Current Price: ₹160.00
- Resistance Levels: ₹173.51 and ₹195.49
- Support Zones: ₹157.38, ₹137.39
- MACD: Bearish crossover; momentum fading below signal line

Should You Buy the Dip?
Not just yet. Until there’s clarity on asset quality,and especially IREDA’s exposure to Gensol, most institutional buyers are likely to stay cautious. The risk-reward setup doesn’t justify a fresh entry while the technicals remain bearish and the newsflow uncertain.
That said, IREDA remains a long-term play on India’s green energy financing boom. But in the short term, the overhang of NPAs, poor disclosure, and potential regulatory scrutiny makes it a wait-and-watch candidate.