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Waaree Ess Private Limited - consumer electronics & durables in Mumbai, Maharashtra, India. FY 2026 financials & compliance.
Revenue · FY 2024
₹14.98 Cr
▼ 59% YoY
Net profit · FY 2024
₹8.14 Cr
Net margin 54.3%
EBITDA · FY 2024
₹10.96 Cr
EBITDA margin 73.2%
Authorised capital
₹1.5 Cr
Registered with MCA
Paid-up capital
₹1.08 Cr
Issued & subscribed
Company age
7 yrs
Est. 2019
Employees · EPFO
41
Provident fund records
Directors on board
3
As per MCA filings
About Waaree Ess Private Limited
Data last updated:
Waaree Ess Private Limited is a private limited company based in Mumbai, Maharashtra, India, recognised as a startup by DPIIT. It operates in the electronics manufacturing segment of the consumer electronics and durables sector. It was incorporated on 31 December 2019 and has been in existence for over 7 years.
Its director Pankaj Chimanlal Doshi is #1,545 among India's richest people (2026).
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U31909MH2019PTC335294. Its GSTIN is 24AACCW5782E1Z9 (Gujarat).
The company has an authorised share capital of ₹1.5 Cr and a paid-up capital of ₹1.08 Cr. It is led by directors including Ankit Hitesh Doshi and Pankaj Chimanlal Doshi.
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 602 Western Edge 1 Western Express Highway Borivali East, Mumbai, Maharashtra, India – 400066.
As per the financials filed for FY 2024, the company reported a revenue of ₹14.98 Cr, a decline of 59% compared to the previous year. For the same year it recorded a net profit of ₹8.14 Cr (net margin 54.3%) and EBITDA of ₹10.96 Cr (EBITDA margin 73.2%). Revenue has grown at a compounded annual rate (CAGR) of 31% over three years.
The company has about 41 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Waaree Energies. The company has 3 deals on record (2 funding rounds, 1 convertible or debt financing), with disclosed funding of ₹15.89 Cr; the latest was in March 2021. Its 10 peer companies in the same principal business activity (electrical equipment, general purpose and special purpose machinery & equipment, transport equipment) are compared by revenue, 5 larger and 5 smaller; the largest is Greenline Eco Product Private Limited with revenue of ₹15.03 Cr. The company has 4 MSME Form 1 returns on record between 2021 and 2022, listing 124 overdue payments to 19 micro and small suppliers.
Waaree Ess Private Limited is registered as a small enterprise under the Udyam registration framework (Reg. No. UDYAM-GJ-22-0002699). For more details, the company can be reached via its website waaree.com.
Company details
CIN U31909MH2019PTC335294
Registration Number 335294
Incorporation Date 31 December 2019
ROC Mumbai
Listing Status Unlisted
Company Status Active
Date of Last AGM 30 September 2025
Date of Balance Sheet 31 March 2025
DPIIT Recognition Recognised Startup
MSME Classification Small
Udyam Registration UDYAM-GJ-22-0002699
Key People
Ankit Hitesh Doshi Director Pankaj Chimanlal Doshi Director Rushabh Pankaj Doshi Director Recognitions & Rankings of Waaree Ess
MSME (Udyam registered) Ministry of MSME
- Category
- Small (2024-25)
- Udyam number
- UDYAM-GJ-22-0002699
India's Richest People 2026 edition · 1 director · Source: Hurun India
- #1,545 Pankaj Chimanlal Doshi ₹1,300 Cr
Contact details
Waaree Ess Private Limited's registered office is in Mumbai, Maharashtra. Its website is waaree.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered Address602 Western Edge 1 Western Express Highway Borivali East, Mumbai, Maharashtra, India – 400066
- IndustryConsumer Electronics & Durables, Electronics Manufacturing
To see the full contact details of Waaree Ess Private Limited, buy the company report.
Comprehensive company report
Waaree Ess Private Limited - one report that includes everything
- 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
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Secure checkout · GST invoice included
Brands
Waaree Ess operates one associated brand: Waaree Energies. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Manufacturer of solar PV modules | waaree.com |
Business activity
The main business activity of Waaree Ess is manufacturing. In detail, this covers electrical equipment, general purpose and special purpose machinery & equipment, transport equipment.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C10 | Electrical equipment, General Purpose and Special purpose Machinery & equipment, Transport equipment |
To see the full business activity and turnover split of Waaree Ess Private Limited, buy the company report.
Financials of Waaree Ess Private Limited
FY 2025 filings availableWaaree Ess Private Limited reported revenue of ₹14.98 Cr (down 59% YoY) for FY 2024.
Revenue · FY 2024
₹14.98 Cr ▼ 59%
Net profit · FY 2024
₹8.14 Cr margin 54.3%
EBITDA · FY 2024
₹10.96 Cr margin 73.2%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▼ 59%
3 years · compounded
▲ 31%
EBITDA CAGR growth
1 year
▲ 407%
3 years · compounded
▲ 108%
Revenue fell 59% in the latest year, but over three years it has grown at a compounded annual rate (CAGR) of 31%. EBITDA rose 407% 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
| Metrics | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
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| EBITDA | ₹10.96 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹8.14 Cr | ||||
| Balance Sheet | |||||
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Financial Ratios
| Metrics | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 73.2% | ||||
| Net Profit Margin | 54.3% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
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To see the full financial statements and ratios of Waaree Ess Private Limited, buy the company report.
Board of directors of Waaree Ess Private Limited
Waaree Ess has 3 current directors and 4 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Ankit Hitesh Doshi Also directs: Waaree Sustainable Finance Private Limited, SGP Industrial Infrastructure Private Limited, Dinkar Solar LLP and 5 more | Director | 31 Dec 2019 | 6 Years 9 Months | Current |
| Pankaj Chimanlal Doshi | Director | 30 Sep 2022 | 4 Years 0 Months | Current |
| Rushabh Pankaj Doshi Also directs: Waaree Sustainable Finance Private Limited, Dinkar Solar LLP, Dhumketu Solar LLP and 5 more | Director | 08 Jun 2021 | 5 Years 4 Months | Current |
Peer comparison
Waaree Ess Private Limited is compared with the 10 companies closest to it by revenue in the same principal business activity (electrical equipment, general purpose and special purpose machinery & equipment, transport equipment), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Greenline Eco Product Private Limited | ₹15.03 Cr (FY 2025) | 99.0% | Chennai, Tamil Nadu, India | |||
| Resham Roosen India Private Limited | ₹15.01 Cr (FY 2025) | 6.0% | Unnao, Uttar Pradesh, India | |||
| New Era Switchgears Private Limited | ₹15 Cr (FY 2025) | -9.0% | Ujjain, Madhya Pradesh, India | |||
| Lakshmi Ceramics and Refractories India Private Limited | ₹15 Cr (FY 2025) | 26.0% | Bangalore, Karnataka, India | |||
| Nihaar Equipment Private Limited | ₹14.99 Cr (FY 2025) | 53.0% | Mumbai, Maharashtra, India | |||
| Waaree Ess Private Limitedthis company | ₹14.98 Cr (FY 2024) | ₹8.14 Cr | 54.3% | -59.0% | 41 | Mumbai, Maharashtra, India |
| Drone Power Private Limited | ₹14.98 Cr (FY 2024) | -32.0% | New Delhi, Delhi, India | |||
| Magnify Industries Private Limited | ₹14.97 Cr (FY 2024) | 10.0% | Vadodara, Gujarat, India | |||
| Thelcon Products Private Limited | ₹14.96 Cr (FY 2025) | -13.0% | Bangalore, Karnataka, India | |||
| Ete Robotic Systems Integrator Private Limited | ₹14.95 Cr (FY 2025) | 51.0% | Delhi, India | |||
| Replxicon Engineers Private Limited | ₹14.94 Cr (FY 2024) | 124.0% | Bhiwandi, Maharashtra, India |
To see the full peer comparison of Waaree Ess Private Limited, buy the company report.
Auditor
Waaree Ess Private Limited is audited by Goyal Rathi & Associates for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| Goyal Rathi & Associates | FY 2023 | 0139190W |
Shareholding
The shareholding of Waaree Ess Private Limited is on record for 4 financial years, the latest being FY 2023, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|
| Promoters | ||||
| Domestic institutional investors (DII) | ||||
| Foreign institutional investors (FII) | ||||
| Public | ||||
| Others |
To see the full shareholding pattern of Waaree Ess Private Limited, buy the company report.
Deals & funding
Waaree Ess Private Limited has 3 deals on record (2 funding rounds, 1 convertible or debt financing), with disclosed funding of ₹15.89 Cr; the latest was in March 2021.
Total deals
3
Funding rounds
2
Convertible or debt financing
1
Disclosed funding
₹15.89 Cr
Deals on record (2 of 3)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Feb 2021 | Funding round · Series A | ₹7.5 Cr | Investors: 4 individuals |
| Sep 2020 | Funding round | ₹89 Lakh | Investors: 2 individuals |
To see the full deal history of Waaree Ess Private Limited, buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
No court or tribunal cases involving Waaree Ess Private Limited are on our record; a case search with case numbers, parties and status is in the company report Buy the company report.
MSME payment delays
Waaree Ess Private Limited has 4 MSME Form 1 returns on record between 2021 and 2022, listing 124 overdue payments to 19 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.
Suppliers with reported dues (5 of 19)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| an individual supplier | |||
| an individual supplier | |||
| Bonding Solutions | |||
| an individual supplier | |||
| an individual supplier |
To see the full MSME payment records of Waaree Ess Private Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Employees & EPFO
Waaree Ess Private Limited has a workforce of 41 employees on its EPFO records as of Apr 04, 2024, across 1 active EPFO establishment.
Employee count
41
Active EPFO establishments
1
Employee growth
32.26%
GST
Waaree Ess has 1 GST registration: 1 active.
Total GSTINs
1
Active
1
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 24AACCW5782E1Z9 | Gujarat | Active | 28 Jun 2020 |
To see the full GST registrations and return filing status of Waaree Ess Private Limited, buy the company report.
Recent activity
Waaree Ess Private Limited has 7 board changes on record since 2019: 3 appointments and 4 cessations. The latest: Pankaj Chimanlal Doshi was appointed as Director on 30 Sep 2022.
AGM
Waaree Ess Private Limited last Annual general meeting of members was held on 30 Sep 2025 as per latest MCA records.
Filing
Waaree Ess Private Limited has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Mumbai I.
Appointed
Pankaj Chimanlal Doshi was appointed as Director.
Ceased
Hitesh Chimanlal Doshi ceased to be Director.
Ceased
Shiv Nath ceased to be Managing Director.
Ceased
Jignesh Vinubhai Chodavadiya ceased to be Additional Director.
Ceased
Rushabh Pankaj Doshi ceased to be Additional Director.
Appointed
Rushabh Pankaj Doshi was appointed as Director.
Appointed
Ankit Hitesh Doshi was appointed as Director.
Incorporation
31 Dec 2019
Waaree Ess Private Limited was registered on 31 Dec 2019 with Roc Mumbai I & aged 6 years 9 months as per MCA records.
News
Frequently asked questions
Waaree Ess is an active private limited company based in Mumbai, Maharashtra, India. The company works in electronics manufacturing, within the consumer electronics and durables industry. It was incorporated on 31 December 2019 (7+ years old) and is registered under CIN U31909MH2019PTC335294.
Waaree Ess has 3 current directors:
- Ankit Hitesh Doshi - Director
- Pankaj Chimanlal Doshi - Director
- Rushabh Pankaj Doshi - Director
The latest financial statements of Waaree Ess on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 30 September 2025. Year-wise statements from FY 2020 are in the company report.
The GSTIN of Waaree Ess is 24AACCW5782E1Z9, registered in Gujarat.
The CIN (Corporate Identification Number) of Waaree Ess is U31909MH2019PTC335294. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Waaree Ess was incorporated on 31 December 2019, making it 7+ years old. It is registered with the Registrar of Companies, Mumbai.
Waaree Ess has 3 deals on record (2 funding rounds, 1 convertible or debt financing), with disclosed funding of ₹15.89 Cr; the latest was in March 2021.
The peers of Waaree Ess by revenue are Greenline Eco Product Private Limited, Resham Roosen India Private Limited, New Era Switchgears Private Limited, Lakshmi Ceramics and Refractories India Private Limited, Nihaar Equipment Private Limited and 5 more, all in the same principal business activity (electrical equipment, general purpose and special purpose machinery & equipment, transport equipment).
Pankaj Chimanlal Doshi was appointed as Director on 30 Sep 2022. Hitesh Chimanlal Doshi ceased to be Director on 27 Apr 2022. Shiv Nath ceased to be Managing Director on 31 Dec 2021. Waaree Ess has 7 board changes on record in total.
Yes, Waaree Ess is recognised as a startup by the Department for Promotion of Industry and Internal Trade (DPIIT).
Yes, Waaree Ess is registered as a small enterprise under Udyam registration (number: UDYAM-GJ-22-0002699).
Waaree Ess has 4 MSME Form 1 returns on record between 2021 and 2022, listing 124 overdue payments to 19 micro and small suppliers. The latest return was filed on 31 Aug 2023.