INDRA RENEWABLE TECHNOLOGIES LIMITED

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  1 PSC ceased in last 24 months

  Significant control changed hands — see the Ownership section.

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Margin ratios are hidden where reported turnover is too small relative to profit to yield a meaningful figure — typical of holding companies whose income is mostly subsidiary dividends rather than trading revenue. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

Bishop Fleming Audit Limited

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The financial statements have been prepared on the going concern basis, which assumes that the company will continue in operational existence and will be able to meet liabilities as they fall due for the foreseeable future. The company has trading forecasts which show losses through 2024 and 2025 converting to positive EBITDA and cash flows in 2026, driven by forecast growth in revenues. Gulf Oil International has continued to provide cash support during the period and will do so for the financial year ahead, in terms of a working capital loan agreement. The company is expecting sales volumes to increase combined with cost efficiency to enable it to become cash sufficient for ongoing day-to-day needs and liabilities as they fall due. Gulf Oil International have pledged the necessary support for the company and therefore the accounts have been prepared on the basis of going concern. The directors believe that it is appropriate to prepare the financial statements on a going concern basis.”

Significant events

• “The UK EV sales market has grown slowly, but has still faced several challenges, notably due to economic uncertainty and reductions in government grants.”
• “Early in the year, Indra completed the identification of certain Generation 1 charger failures and defined its Generation 2 upgraded product.”
• “On the partnership front, Indra and JLR agreed to stop their bidirectional charger project. Although Indra was allocating almost all of its resources to the project, JLR was unable to commit to the required sales volumes. As a result, Indra reduced the size of the team toward the end of the year and transferred the JLR project into its own NGAC (Next Generation AC) programme, which will be a three-phase (7-22 kW) bidirectional charger.”
• “The Company reduced its total number of employees by 32% since the prior year.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

6

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

1

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.