About Spi Power Operations Private Limited
Data last updated:
Spi Power Operations Private Limited is a private limited company based in Chennai, Tamil Nadu, India, a subsidiary of Madurai Power Corporation Private Limited. It operates in the power transmission and distribution services segment of the energy and power sector. It was incorporated on 20 April 2000 and has been in existence for over 26 years.
The company is registered with the Registrar of Companies (ROC), Chennai, under CIN U40105TN2000PTC051713. Its GSTIN is 33AAACO5538L1ZB (Tamil Nadu).
The company has an authorised share capital of ₹267 Cr and a paid-up capital of ₹258.64 Cr. It is led by directors Senthil Mariappan Rathnasamy and Srinivasan Madhavan.
Its last annual general meeting (AGM) was held on 30 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at No:3 I Floor 2nd Street Subba Rao Avenue College Road, Chennai, Tamil Nadu, India – 600006.
As per the financials filed for FY 2025, the company reported a revenue of ₹4.16 Lakh, a decline of 96% compared to the previous year. For the same year it recorded a net loss of ₹13.68 Cr and EBITDA of -₹11.33 Cr. Revenue has grown at a compounded annual rate (CAGR) of 17% over three years.
The company has about 1 employee on its provident fund (EPFO) records. Its group structure includes 1 subsidiary.
The company has 10 deals on record (5 funding rounds, 3 rights issues, 2 secondary share transfers), with disclosed funding of ₹88.6 Cr; the latest was in April 2022. Its 10 peer companies in the Power industry (Transmission and Distribution) are compared by revenue, 5 larger and 5 smaller; the largest is Greenkonnect Energy Private Limited with revenue of ₹4.5 Lakh.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website spigroup.in.
CIN History of Spi Power Operations Private Limited
Spi Power Operations has one previous CIN (Corporate Identification Number): U40105TN2003PTC051713. The current CIN is U40105TN2000PTC051713, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U40105TN2000PTC051713 | Current |
| U40105TN2003PTC051713 | Previous |
- EmailLocked
- TelephoneLocked
- Website
- Social MediaLocked
- Registered AddressNo:3 I Floor 2nd Street Subba Rao Avenue College Road, Chennai, Tamil Nadu, India – 600006
- IndustryEnergy and Power, Power Transmission & Distribution Services
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
- One PDF report, delivered after checkout
Financials of Spi Power Operations Private Limited FY 2025 filings available
Spi Power Operations Private Limited reported revenue of ₹4.16 Lakh (down 96% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR) of Spi Power Operations Private Limited
Revenue fell 96% in the latest year, but over three years it has grown at a compounded annual rate (CAGR) of 17%. EBITDA fell 154% in the latest year. Three- and five-year figures are compounded annual growth rates (CAGR): the steady yearly rate that links the first and the last year. All are worked out from the filed statements.
Financial Statement Summary of Spi Power Operations Private Limited
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | •••• | •••• | •••• | •••• | •••• |
| Other Income | •••• | •••• | •••• | •••• | •••• |
| Total Revenue | •••• | •••• | •••• | •••• | •••• |
| Cost of Materials Consumed | •••• | •••• | •••• | •••• | •••• |
| Employee Benefit Expense | •••• | •••• | •••• | •••• | •••• |
| Finance Costs | •••• | •••• | •••• | •••• | •••• |
| Depreciation and Amortisation | •••• | •••• | •••• | •••• | •••• |
| Other Expenses | •••• | •••• | •••• | •••• | •••• |
| Total Expenses | •••• | •••• | •••• | •••• | •••• |
| EBITDA | -₹11.33 Cr | •••• | •••• | •••• | •••• |
| Profit Before Tax | •••• | •••• | •••• | •••• | •••• |
| Tax Expense | •••• | •••• | •••• | •••• | •••• |
| Net Profit (PAT) | -₹13.68 Cr | •••• | •••• | •••• | •••• |
| Balance Sheet | |||||
| Share Capital | •••• | •••• | •••• | •••• | •••• |
| Reserves and Surplus | •••• | •••• | •••• | •••• | •••• |
| Net Worth (Total Equity) | •••• | •••• | •••• | •••• | •••• |
| Long-term Borrowings | •••• | •••• | •••• | •••• | •••• |
| Short-term Borrowings | •••• | •••• | •••• | •••• | •••• |
| Trade Payables | •••• | •••• | •••• | •••• | •••• |
| Total Liabilities | •••• | •••• | •••• | •••• | •••• |
| Fixed Assets | •••• | •••• | •••• | •••• | •••• |
| Investments | •••• | •••• | •••• | •••• | •••• |
| Inventories | •••• | •••• | •••• | •••• | •••• |
| Trade Receivables | •••• | •••• | •••• | •••• | •••• |
| Cash and Bank Balance | •••• | •••• | •••• | •••• | •••• |
| Total Assets | •••• | •••• | •••• | •••• | •••• |
Financial Ratios of Spi Power Operations Private Limited
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | •••• | •••• | •••• | •••• | •••• |
| Net Profit Margin | •••• | •••• | •••• | •••• | •••• |
| Return on Equity (ROE) | •••• | •••• | •••• | •••• | •••• |
| Return on Capital Employed (ROCE) | •••• | •••• | •••• | •••• | •••• |
| Return on Assets (ROA) | •••• | •••• | •••• | •••• | •••• |
| Liquidity and Debt | |||||
| Current Ratio | •••• | •••• | •••• | •••• | •••• |
| Quick Ratio | •••• | •••• | •••• | •••• | •••• |
| Debt-to-Equity Ratio | •••• | •••• | •••• | •••• | •••• |
| Interest Coverage Ratio | •••• | •••• | •••• | •••• | •••• |
| Efficiency and Growth | |||||
| Asset Turnover | •••• | •••• | •••• | •••• | •••• |
| Receivable Days | •••• | •••• | •••• | •••• | •••• |
| Payable Days | •••• | •••• | •••• | •••• | •••• |
| Inventory Days | •••• | •••• | •••• | •••• | •••• |
| Revenue Growth | •••• | •••• | •••• | •••• | •••• |
| Net Profit Growth | •••• | •••• | •••• | •••• | •••• |
Paid data: the figures shown as dots are available after purchase of the company report. Figures as filed with the MCA in Form AOC-4. The full year-wise statements and ratios of Spi Power Operations are in the company report.
Financial statements from 2015
Earlier years and trend charts are in the company report.
- Income statements
- Balance sheets
- Cash-flow statements
- Ratios and benchmarks
Verified entity values are shown only after access is granted.
Board of Directors of Spi Power Operations Private Limited
Spi Power Operations has 2 current directors and 19 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Senthil Mariappan Rathnasamy | Director | 31 Jul 2017 | 9 Years 2 Months | Current |
| Srinivasan Madhavan | Director | 30 Sep 2019 | 7 Years 0 Months | Current |
Peer Comparison of Spi Power Operations Private Limited
Spi Power Operations Private Limited is compared with the companies closest to it by revenue in the Power industry (Transmission and Distribution). Net profit, margin and employee counts of each company are in the company report.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Greenkonnect Energy Private Limited | ₹4.5 Lakh (FY 2024) | •••• | •••• | 1760.0% | •••• | Mumbai, Maharashtra, India |
| Hindustan Powergen Limited. | ₹4.49 Lakh (FY 2016) | •••• | •••• | 2425.0% | •••• | New Delhi, Delhi, India |
| Fatehpur Coal Mining Company Private Limited | ₹4.28 Lakh (FY 2025) | •••• | •••• | 34.0% | •••• | Raigarh, Chhattisgarh, India |
| Macro Technologies (India) Private Limited | ₹4.19 Lakh (FY 2021) | •••• | •••• | -88.0% | •••• | Delhi, India |
| Habile Integrate Soft Comm Private Limited | ₹4.18 Lakh (FY 2021) | •••• | •••• | -52.0% | •••• | Jaipur, Rajasthan, India |
| Spi Power Operations Private Limited this company | ₹4.16 Lakh (FY 2025) | •••• | •••• | -96.0% | •••• | Chennai, Tamil Nadu, India |
| Thind Energy Private Limited | ₹4.14 Lakh (FY 2025) | •••• | •••• | 13.0% | •••• | Jalandhar, Punjab, India |
| Mainpuri Power Transmission Private Limited | ₹4.13 Lakh (FY 2015) | •••• | •••• | 1701.0% | •••• | Gurgaon, Haryana, India |
| Green Wind and Solar Powertech Private Limited | ₹4.08 Lakh (FY 2022) | •••• | •••• | -84.0% | •••• | Coimbatore, Tamil Nadu, India |
| Renew Naveen Urja Private Limited | ₹4.04 Lakh (FY 2025) | •••• | •••• | 156.0% | •••• | New Delhi, Delhi, India |
| Petrox Energy Private Limited | ₹4 Lakh (FY 2020) | •••• | •••• | -80.0% | •••• | Kasturinagar, Karnataka, India |
Peers are the five companies nearest above and the five nearest below Spi Power Operations by revenue in the Power industry (Transmission and Distribution), from the latest filed financials of each company. Net profit, margin and employee counts of each peer are in the company report.
Auditor Details of Spi Power Operations Private Limited
Spi Power Operations Private Limited is audited by P A REDDY & CO for the financial year 2018.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| P A REDDY & CO | Locked | Locked | Locked |
Complete auditor history
Appointment and cessation dates and past auditor changes are in the company report.
- Appointment status
- Appointment dates
- Cessation dates
- Auditor changes
Verified entity values are shown only after access is granted.
Ownership and Shareholding of Spi Power Operations Private Limited
Shareholding and ownership data
Promoter, institutional, public and beneficial ownership figures are in the company report.
- Ownership categories
- Historical changes
- Group structure
- FII and DII holdings
Verified entity values are shown only after access is granted.
Charges & Borrowings of Spi Power Operations Private Limited
Spi Power Operations Private Limited does not have any charges (loans) registered with the Registrar of Companies.
Deals & Funding of Spi Power Operations Private Limited
Spi Power Operations Private Limited has 10 deals on record (5 funding rounds, 3 rights issues, 2 secondary share transfers), with disclosed funding of ₹88.6 Cr; the latest was in April 2022.
Deals on record (5 of 10)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Apr 2022 | Funding round | ₹55.3 Cr | Investors: S S Theatres LLP |
| Sep 2020 | Funding round | ₹16.85 Cr | Investors: S S Theatres LLP , Samayanallur Power Investments Private Limited |
| Mar 2020 | Rights issue | ₹59.2 Lakh | Investors: Madurai Power Corporation Private Limited |
| Feb 2020 | Funding round | ₹5 Cr | Investors: S S Theatres LLP |
| Nov 2018 | Rights issue | ₹31.19 Cr | Investors: Madurai Power Corporation Private Limited |
Full deal history
All 10 deals with amounts, valuations, instruments and every party are in the company report.
- Every funding round and share transfer
- Amounts and valuations
- Investors, buyers and sellers
- Instruments and deal dates
Verified entity values are shown only after access is granted.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Employees and EPFO Compliance at Spi Power Operations Private Limited
Spi Power Operations Private Limited has a workforce of 1 employees as of Mar 22, 2024.
Employee and EPFO history
Monthly headcount, contribution history and filing status are in the company report.
- Monthly headcount
- PF contributions
- ECR filing status
- Establishment history
Verified entity values are shown only after access is granted.
Group Structure of Spi Power Operations Private Limited
Spi Power Operations has 1 subsidiary company. This group structure data is as of FY 2018. The table lists each entity with its relationship and holding.
| Company Name | CIN | Shares Held |
|---|---|---|
| Spi Ports Private Limited | U74900TN2008PTC067720 | Locked |
Showing major subsidiaries. Total: 1.
Recent Activity on Spi Power Operations Private Limited
Spi Power Operations Private Limited has 19 board changes on record since 2007: 2 appointments and 17 cessations. The latest: Srinivasan Madhavan ceased to be Additional Director on 31 Dec 2020.
10 earlier events are listed in the company report.
Credit Ratings, Litigation & Regulatory Alerts for Spi Power Operations Private Limited
Credit ratings, litigation, and regulatory alerts
Credit ratings, court records and regulatory alerts are in the company report.
- Rating history
- Court and tribunal cases
- Regulatory alerts
- Director-linked violations
Verified entity values are shown only after access is granted.
MSME Payment Delays by Spi Power Operations Private Limited
MSME payment history
Amounts due to small suppliers, the reasons given and MSME-1 filings are in the company report.
- Outstanding amounts
- Delay periods and reasons
- MSME-1 filing history
- Vendor payment signals
Verified entity values are shown only after access is granted.
Subsidiaries & Group Companies of Spi Power Operations Private Limited
Corporate group structure
Parent, subsidiary, associate and joint venture records with holdings are in the company report.
- Parent company
- Subsidiaries and ownership
- Associates and joint ventures
- Entity investments
Verified entity values are shown only after access is granted.
GST Compliance of Spi Power Operations Private Limited
Spi Power Operations has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 33AAACO5538L1ZB | Tamil Nadu | Active | 01 Jul 2017 |
GST registrations and filing compliance
State-wise GST registrations, return filing status and HSN or SAC codes are in the company report.
- GSTIN registrations
- State-wise filing status
- HSN and SAC details
- Tax jurisdiction records
Verified entity values are shown only after access is granted.
MCA Filings & Documents of Spi Power Operations Private Limited
MCA filings and documents
Filed forms, annual returns, financial statements and charge filings with their dates are in the company report.
- Incorporation documents
- Annual returns and statements
- Charge filings
- Complete filing index
Verified entity values are shown only after access is granted.
Frequently Asked Questions about Spi Power Operations Private Limited
Spi Power Operations is an active private limited company based in Chennai, Tamil Nadu, India. The company works in power transmission and distribution services, within the energy and power industry. It was incorporated on 20 April 2000 (26+ years old) and is registered under CIN U40105TN2000PTC051713.
Spi Power Operations reported revenue of ₹4.16 Lakh for FY 2025 (down 96% YoY).
Spi Power Operations has 2 current directors:
- Senthil Mariappan Rathnasamy - Director
- Srinivasan Madhavan - Director
Spi Power Operations reported a net loss of ₹13.68 Cr and EBITDA of -₹11.33 Cr for FY 2025, as per its filed financial statements.
The compounded annual growth rate (CAGR) of the revenue of Spi Power Operations is 17% over three years. In the latest year (FY 2025) revenue fell 96%. CAGR is the steady yearly rate that links the first and the last year.
The GSTIN of Spi Power Operations is 33AAACO5538L1ZB, registered in Tamil Nadu.
The CIN (Corporate Identification Number) of Spi Power Operations is U40105TN2000PTC051713. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Spi Power Operations was incorporated on 20 April 2000, making it 26+ years old. It is registered with the Registrar of Companies, Chennai.
Spi Power Operations has 10 deals on record (5 funding rounds, 3 rights issues, 2 secondary share transfers), with disclosed funding of ₹88.6 Cr; the latest was in April 2022.
The peers of Spi Power Operations by revenue are Greenkonnect Energy Private Limited, Hindustan Powergen Limited, Fatehpur Coal Mining Company Private Limited, Macro Technologies (India) Private Limited, Habile Integrate Soft Comm Private Limited and 5 more, all in the Power industry (Transmission and Distribution).
Srinivasan Madhavan ceased to be Additional Director on 31 Dec 2020. Michael Soosai Selvaraj ceased to be Director on 30 Sep 2019. Srinivasan Madhavan was appointed as Director on 30 Sep 2019. Spi Power Operations has 19 board changes on record in total.