Promoter holding
64.27%
RR
Refex Renewables & Infrastructure Limited - Due diligence report
A 360° intelligence report on Sunedison: trust score, financial health, credit view, compliance, directors, growth and distress signals - ge…
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Sunedison — 360° Intelligence Report
Generated from MCA filings & public records60/100
Trust Score
Moderate
Sunedison is assessed as Moderate with a Trust Score of 60/100. Sunedison is an active public limited indian non-government company incorporated in 1994, operating in the Environment sector. The company has shown revenue growth across its recent filed years. It reported a loss in its latest filed year. Based on MCA filings and public records, it currently shows a moderate compliance risk and high financial risk profile.
Report generated on 20 Jul 2026 from the latest processed filings. Refex Renewables & Infrastructure Limited snapshot & full profile →
Automated indicators derived from public MCA / GST / EPFO records - not a credit rating, not investment, legal or financial advice. Spotted an inaccuracy? Report an error.
02
Score Card
Higher is safer · rule-based & explainableTrust ScoreModerate
60/100
Overall counterparty trust - the headline number of this report.
Compliance ScoreModerate
52/100
Statutory standing - status, filings, auditor, MSME and litigation.
Financial Health ScoreCaution Indicated
45/100
Profitability, leverage and liquidity from filed statements.
Credit Risk ScoreCaution Indicated
30/100
Debt capacity, gearing and security cover for lenders.
Director Stability ScoreCaution Indicated
30/100
Board strength, DIN status, churn and network.
Growth ScoreModerate
70/100
Revenue, profit, asset and hiring momentum.
Distress ScoreLow Risk
90/100
Early-warning signals - higher means fewer warnings.
03
Financial Intelligence Dashboard
Consolidated · 5 filed year(s)Unlock the full 5-year financial dashboard with charts and year-wise figures.
Get full accessScores and observations on this page are already computed from the real filings - only the underlying figures are locked.
04
Credit & Compliance Intelligence
Why the scores are what they are
Credit Risk Score: 30/100 Caution Indicated
- Liabilities ≈ 38% EBITDA - stretched.
- Elevated gearing (D/E 1.42).
Charges position: 1 open (10.50 cr) · 2 satisfied (5.73 cr).
Banking relationships (from registered charges)
| Lender | Charges | Amount |
|---|---|---|
| Others | 1 | 48.0 cr |
| Bank Of India | 2 | 48.0 cr |
Compliance Score: 52/100 Moderate
- Company status is Active as per MCA.
- Annual filings current (balance sheet Mar 2025).
- Flagged by authority: BSE, SEBI.
- 2 auditor resignation(s) filed - latest: M.KRISHNAKUMAR & ASSOCIATES on 2019-08-07.
- Delayed payments to MSME suppliers disclosed (7 disclosure(s)).
- 7 active GST registration(s).
05
Director Intelligence
Stability score: 30/100| Name | DIN / PAN | Designation | Appointed | Tenure | DIN status |
|---|---|---|---|---|---|
| TALLURI JAYANTHI | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| LATHA VENKATESH VENKATESH | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| ANIL JAIN | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| DINESH KUMAR AGARWAL | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| PILLAPPAN AMALANATHAN | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| Vinay Aggarwal | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| KALPESH KUMAR | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| THIRUNAVUKARASU MANIKANDAN | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| THIRUNAVUKARASU MANIKANDAN | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
- 9 directors on the board.
- LATHA VENKATESH VENKATESH has DIN status "Deactivated due to non-filing of DIR-3 KYC".
- 4 director exits in 3 years - high churn.
Director & KMP remuneration (FY 2023)
| Name | Designation | Total remuneration |
|---|---|---|
| A K Sharma | Managing Director | 2.4 cr |
| R Mehta | Whole-time Director | 1.6 cr |
| S Iyer | CFO | 95.0 L |
Remuneration is disclosed in the latest annual return. Unlock full report
06
Ownership & Group Intelligence
As per FY 2023 annual returnPublic / other holding
35.73%
Equity shares
12,45,67,890
Equity paid-up
124.5 cr
Promoters on record
4
Ultimate holding entity
-
Subsidiaries
6
Group entities
6
Capital events
0 allotment(s) · 11 transfer(s)
Promoters hold a dominant controlling stake - exact percentages are part of the full report.
| Group entity | Relationship | % held |
|---|---|---|
| Engender Developers Private Limited | Subsidiary Company | 74.00% |
| Ishaan Solar Power Private Limited | Subsidiary Company | 74.00% |
| Refex Green Power Limited | Subsidiary Company | 74.00% |
| Sei Solartech Private Limited | Subsidiary Company | 74.00% |
| Sherisha Solar Llp | Subsidiary Company | 74.00% |
| Sei Tejas Private Limited | Subsidiary Company | 74.00% |
| Sil Mercury Solar Private Limited | Subsidiary Company | 74.00% |
| Taper Solar Energy Limited | Subsidiary Company | 74.00% |
| Broil Solar Energy Private Limited | Subsidiary Company | 74.00% |
| Kiln Solar Energy Private Limited | Subsidiary Company | 74.00% |
Key managerial personnel: KALPESH KUMAR (Managing Director) · THIRUNAVUKARASU MANIKANDAN (CFO) · THIRUNAVUKARASU MANIKANDAN (CFO)
Full shareholding pattern, group structure & capital events →
07
Risk Intelligence Center
Growth 70 · Distress 90
Growth signals & trust indicators
Steady revenue growth: +2.1x over 4 year(s).
Latest year revenue grew 24%.
Operating for 31+ years.
Active EPFO - real payroll on record.
Active GST registration(s).
Distress signals & risk flags
Compliance score is weak (52/100).
1 open charge(s) registered - assets are encumbered.
2 auditor resignation(s) on record - review the stated reasons.
MSME payment delays disclosed - latest outstanding 45.29 Lakh.
08
Stakeholder Verdicts
Vendor · Banker · InvestorVendor due diligence66/100
Review suggested
Suitability as a supplier / customer counterparty.
- Check the compliance flags before onboarding.
- No distress signals on file.
- Financial filings available for verification.
Banker assessment40/100
Enhanced diligence advised
Indicative lending comfort for banks, NBFCs and trade credit.
- Debt capacity assessed from filed statements.
- 1 open charge(s) of 10.50 cr already registered.
- Compliance gaps should be priced into terms.
Investor view59/100
Mixed indicators
Growth quality and scalability through an investor lens.
- 2 growth signal(s) detected.
- Margin and return trends computable from filings.
- Management churn warrants questions.
09
MCA Filings & Events Timeline
Latest 15 events18 Sep 2025
Last AGM held
Annual general meeting
31 Mar 2025
Latest balance sheet
Filed with ROC
19 Dec 2024
Charge created
Others - 10.50 cr
01 Oct 2024
Director appointed
DINESH KUMAR AGARWAL (Director)
26 Sep 2024
Director ceased
LATHA VENKATESH VENKATESH
14 Aug 2024
Director appointed
LATHA VENKATESH VENKATESH (Director)
01 Jun 2024
Director appointed
THIRUNAVUKARASU MANIKANDAN (CFO)
31 May 2024
Director ceased
DINESH KUMAR AGARWAL
28 Sep 2023
Director ceased
TALLURI JAYANTHI
Director ceased
SUNNY CHANDRAKUMAR JAIN
14 Feb 2023
Director appointed
TALLURI JAYANTHI (Director)
30 May 2022
Director appointed
Vinay Aggarwal (Company Secretary)
29 Dec 2020
Director ceased
PILLAPPAN AMALANATHAN
16 Jun 2020
Director appointed
PILLAPPAN AMALANATHAN (Director)
20 Jan 2020
Director ceased
HEM SENTHIL RAJ
10
Key Observations
Auto-generated from the data aboveRevenue grew 0.86 over the last 4 financial year(s).
Net profit margin moved from 61% to 38%.
Debt-to-equity stands at 1.42 - leverage worth monitoring.
Net worth is positive.
9 active director(s) / partner(s); review board churn before relying on management continuity.
7 active GST registration(s) indicate ongoing business operations.
Operates a group structure with 6 subsidiary(ies) - assess on a consolidated basis.
EPFO-registered employer - verifiable payroll history exists.
Promoters hold a dominant controlling stake as per the FY 2023 annual return.
Director / KMP remuneration is disclosed in the latest annual return - exact figures available in the full report.
| Company | CIN | Location |
|---|---|---|
| Descon | U74210UP2004PTC028326 | Uttar Pradesh, Uttar Pradesh, India |
| Y.D. Builders And Hotels Private Limited | U74899DL1988PTC033359 | New Delhi, Delhi, India |
| Sant Gadge Baba Infra Private Limited | U45309MH2022PTC382192 | Buldhana, Maharashtra, India |
| Kvp Electricals Private Limited | U45201DL2019PTC359468 | Delhi, Delhi, India |
| Delta Erectors Private Limited | U70101UP1990PTC011681 | Kanpur, Uttar Pradesh, India |
| Viva Highways Limited | U45200MH2001PLC171661 | Nashik, Maharashtra, India |
| Adorn Infra Energy Private Limited | U70102UP2014PTC065214 | Varanasi, Uttar Pradesh, India |
| Jse Infotech | U43123OR2016PTC026207 | Bhubneshwar, Orissa, India |
12
Who Uses This Report
CA · CS · Banker · Investor · VendorChartered Accountants (CA)
Verify Sunedison before audits and certifications: compliance score 52/100, filing history, auditor history and charge records in one place - instead of pulling each MCA form separately.
Company Secretaries (CS)
Track statutory health of Sunedison: ACTIVE compliance status, annual-return recency, director DIN status, board churn and the events timeline - the inputs for secretarial audits and due-diligence certificates.
Bankers & NBFCs
Current banker verdict: Enhanced diligence advised. Credit risk score 30/100, existing charge position and lender relationships - a first-pass credit memo before formal appraisal.
Investors & Analysts
Investor view: Mixed indicators. Growth score 70/100, margin trends, ownership structure and peer set for Sunedison - screening before a deeper diligence.
Vendors & Procurement Teams
Vendor verdict: Review suggested. Trust score 60/100, distress signals and MSME payment-delay disclosures - know whether Sunedison pays its suppliers before you extend credit terms.
Lawyers & Compliance Teams
Litigation footprint (no cases on record), regulatory flags, charge documents trail and director networks for Sunedison - groundwork for KYC, onboarding and disputes.
13
Frequently Asked Questions
Is Sunedison an active company?
Sunedison has MCA status “Active” with a compliance score of 52/100 (Moderate).
Is Sunedison financially healthy?
Sunedison has a Financial Health Score of 45/100 (Caution Indicated) based on its filed financial statements.
Should I do business with Sunedison?
Its overall Trust Score is 60/100 (Moderate). Vendor verdict: Review suggested. Review the risk flags in the Risk Intelligence Center before deciding.
Who controls Sunedison?
Promoters hold a dominant controlling stake - exact percentages are in the full report. 9 active director(s) are on record.
Does Sunedison have loans or charges against its assets?
1 open charge(s) are registered against its assets, and 2 earlier charge(s) stand satisfied.
Is Sunedison up to date with its ROC filings?
Annual filings current (balance sheet Mar 2025). Overall compliance score: 52/100 (Moderate).
Is it risky to lend to Sunedison?
Its Credit Risk Score is 30/100 (Caution Indicated). Banker verdict: Enhanced diligence advised.
Disclaimer: This report is generated automatically from MCA filings and public records as available
in our system at the time of the last update. Scores, bands and verdicts are rule-based derived indicators of the
underlying data - they are opinions generated by an algorithm, not statements of fact about the company, and are
not credit ratings (within the meaning of SEBI regulations), audits, or investment, legal or financial advice.
Verify from official sources and consult a qualified professional before any business, lending or investment decision.
If you represent this company and believe any information is inaccurate or outdated,
report it here and we will review promptly.
