Company Overview
Renewable Energy Systems Limited (RESL) is a prominent, publicly listed company incorporated in India since 2008. Headquartered in Noida, RESL is a leader in manufacturing and exporting advanced components for renewable energy systems. The company also provides solar system maintenance and operates an e-commerce platform, TRICON.
Financial Standing
As of March 31, 2025, RESL operates as a large-scale entity requiring stringent adherence to the Companies Act 2013, SEBI regulations, and Indian Accounting Standards (Ind AS). Their shares are listed on a recognized stock exchange.
Management & Strategy
The Board comprises 14 Directors (Max limit 15). Expansion plans include inducting Mr. P and Mr. Q to enhance financial and operational expertise. The CFO emphasizes Strategic Financial Management, retaining 70% of profits for future growth while balancing dividend stability.
GST & Operational Nodes
- ABC Ltd Contract: Solar panel overhauling provided on 20/07/2025. Advance received 15/07/2025. Invoice issued 22/07/2025. GST changed from 12% to 18% on 21/07/2025.
- FG Industries Order: Unregistered customer in Rohtak, Haryana. Goods delivered to VC Industries in Jalandhar, Punjab.
Acquisition of Tech Components Limited (TCL)
RESL seeks backward integration via a share-for-share exchange. Financing includes Optionally Convertible Preference Shares (OCPS) (FV ₹100, 5% non-cumulative dividend, 8-year term). Market rate for non-convertible debt is 8%.
Audit & Compliance
Statutory Auditors M/s HK & Associates (CA. H) are engaged. Internal Auditor CA. L identified GST short payments. Management paid ₹8.00 lakhs (of ₹10.00 lakhs) believing an SCN wouldn't be issued, yet an SCN was served.