About Adani Renewable Energy Devco Private Limited
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Adani Renewable Energy Devco Private Limited is a private limited company based in New Delhi, Delhi, India, a subsidiary of Adani Energy Holdings Limited. It operates in the business support services segment of the business services sector. It was incorporated on 11 August 2015 and has been in existence for over 11 years.
The company is registered with the Registrar of Companies (ROC), Delhi, under CIN U74140DL2015PTC283928. Its GSTIN is 07AAWCS0772N1ZI (Delhi). The company holds 4 GST registrations, all of them active.
The company has an authorised share capital of ₹100 Cr and a paid-up capital of ₹59.65 Cr. It was formerly known as Sb Solar Services Private Limited and Sb Energy Private Limited. It is led by directors including Manish Kumar (Whole-Time Director) and Ashwin Laljibhai Kyada.
Its last annual general meeting (AGM) was held on 21 June 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at C – 105 Anand Niketan, New Delhi, Delhi, India – 110021.
As per the financials filed for FY 2026, the company reported a revenue of ₹42.55 Cr, a decline of 24% compared to the previous year. For the same year it recorded a net profit of ₹14 Lakh (net margin 0.3%) and EBITDA of ₹17.7 Cr (EBITDA margin 41.6%). Revenue has declined at a compounded annual rate (CAGR) of 27% over three years and 23% over five years.
The company has about 109 employees on its provident fund (EPFO) records.
The company is associated with 2 brands: SB Energy and Adani Group. As per MCA filings, the company has satisfied charges of ₹102.58 Cr on record. Court records list 6 cases involving the company, including 6 filed against it. The company has 4 deals on record (3 rights issues, 1 secondary share transfer); the latest was in July 2016. Its 10 peer companies in the Infrastructure industry (Power Projects, Renewable Energy) are compared by revenue, 5 larger and 5 smaller; the largest is Solitaire BTN Solar Private Limited with revenue of ₹59.02 Cr. The company has 9 MSME Form 1 returns on record between 2019 and 2024, listing 37 overdue payments to 17 micro and small suppliers.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website adani.com.
Name History of Adani Renewable Energy Devco Private Limited
Adani Renewable Energy Devco has undergone 2 name changes throughout its history. The company was previously known as Sb Solar Services Private Limited, and Sb Energy Private Limited. The current legal name is Adani Renewable Energy Devco Private Limited.
| Company Name | Status |
|---|---|
| Adani Renewable Energy Devco Private Limited | Current |
| Sb Solar Services Private Limited | Previous |
| Sb Energy Private Limited | Previous |
- EmailLocked
- TelephoneLocked
- Website
- Social Media
- Registered AddressC – 105 Anand Niketan, New Delhi, Delhi, India – 110021
- IndustryBusiness Services, Business Support 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
Associated Brands with Adani Renewable Energy Devco Private Limited
Adani Renewable Energy Devco operates two associated brands: SB Energy and Adani Group. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Solar energy projects are developed and managed globally. | sbenergy.com | |
| Diversified operations are conducted across multiple industries worldwide. | adani.com |
Business Activity of Adani Renewable Energy Devco Private Limited
The main business activity of Adani Renewable Energy Devco is electricity, gas, steam and air condition supply. In detail, this covers electric power generation, transmission and distribution.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| D | Electricity, gas, steam and air condition supply | D1 | Electric power generation, transmission and distribution | Locked |
Business activity turnover details
Turnover share and past changes in activity are in the company report.
- Turnover contribution
- Historical classifications
- Filing-level activity changes
Verified entity values are shown only after access is granted.
Financials of Adani Renewable Energy Devco Private Limited FY 2025 filings available
Adani Renewable Energy Devco Private Limited reported revenue of ₹42.55 Cr (down 24% YoY) for FY 2026.
Compounded Annual Growth Rate (CAGR) of Adani Renewable Energy Devco Private Limited
Revenue has declined at a compounded annual rate (CAGR) of 23% over five years, including a 24% fall in the latest year. EBITDA fell 28% 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 Adani Renewable Energy Devco Private Limited
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 |
|---|---|---|---|---|---|
| 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 | ₹17.7 Cr | •••• | •••• | •••• | •••• |
| Profit Before Tax | •••• | •••• | •••• | •••• | •••• |
| Tax Expense | •••• | •••• | •••• | •••• | •••• |
| Net Profit (PAT) | ₹14 Lakh | •••• | •••• | •••• | •••• |
| 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 Adani Renewable Energy Devco Private Limited
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 41.6% | •••• | •••• | •••• | •••• |
| Net Profit Margin | 0.3% | •••• | •••• | •••• | •••• |
| 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 Adani Renewable Energy Devco are in the company report.
Financial statements from FY 2016
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 Adani Renewable Energy Devco Private Limited
Adani Renewable Energy Devco has 4 current directors and 11 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Ashwin Laljibhai Kyada Also directs: Adani Solar Energy RJ One Limited, Adani Renewable Energy Fifteen Limited, Adani Solar Energy Ap Eight Private Limited and 5 more | Director | 21 Oct 2022 | 3 Years 11 Months | Current |
| Mayank Bharat Gala | Director | 31 Jan 2023 | 3 Years 8 Months | Current |
| Prerak Kanaiyalal Thekadi Also directs: Buildcast Solutions Private Limited, Adani Solar Energy Ap Six Limited, Adani Solar Energy Ap Six Private Limited and 5 more | Director | 30 Sep 2021 | 5 Years 0 Months | Current |
| Manish Kumar | Whole-Time Director | 16 Jan 2026 | 0 Years 9 Months | Current |
Peer Comparison of Adani Renewable Energy Devco Private Limited
Adani Renewable Energy Devco Private Limited is compared with the companies closest to it by revenue in the Infrastructure industry (Power Projects, Renewable Energy). Net profit, margin and employee counts of each company are in the company report.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Solitaire BTN Solar Private Limited | ₹59.02 Cr (FY 2025) | •••• | •••• | 0.0% | •••• | New Delhi, Delhi, India |
| Sei Enerstar Renewable Energy Private Limited | ₹58.51 Cr (FY 2025) | •••• | •••• | -3.0% | •••• | Hyderabad, Telangana, India |
| Azure Green Tech Private Limited | ₹56.83 Cr (FY 2025) | •••• | •••• | 9.0% | •••• | New Delhi, Delhi, India |
| Nigla Infrastructure & Power Projects Private Limited | ₹56.72 Cr (FY 2024) | •••• | •••• | -4.0% | •••• | Itanagar, Arunachal Pradesh, India |
| Brightspark Energy Private Limited | ₹56.48 Cr (FY 2024) | •••• | •••• | 22.0% | •••• | New Delhi, Delhi, India |
| Batliboi Renewable Energy Solutions Private Limited | ₹55.61 Cr (FY 2024) | •••• | •••• | 194.0% | •••• | Chennai, Tamil Nadu, India |
| Sprng Ujjvala Energy Private Limited | ₹55.12 Cr (FY 2025) | •••• | •••• | -4.0% | •••• | New Delhi, Delhi, India |
| Divine Solren Private Limited | ₹54.66 Cr (FY 2023) | •••• | •••• | -6.0% | •••• | New Delhi, Delhi, India |
| Param Renewable Energy Private Limited | ₹54.46 Cr (FY 2023) | •••• | •••• | 10.0% | •••• | Ahmedabad, Gujarat, India |
| Shreyas Renewable Energy Private Limited | ₹54.36 Cr (FY 2025) | •••• | •••• | -9.0% | •••• | Hyderabad, Telangana, India |
| Adani Renewable Energy Devco Private Limited this company | ₹42.55 Cr (FY 2026) | •••• | •••• | -24.0% | •••• | New Delhi, Delhi, India |
Peers are the five companies nearest above and the five nearest below Adani Renewable Energy Devco by revenue in the Infrastructure industry (Power Projects, Renewable Energy), 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 Adani Renewable Energy Devco Private Limited
Adani Renewable Energy Devco Private Limited is audited by Shah Dhandharia & Co LLP for the financial year 2023.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| Shah Dhandharia & Co LLP | 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 Adani Renewable Energy Devco 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 Adani Renewable Energy Devco Private Limited
| Date | Lender | Amount | Status |
|---|---|---|---|
| 14 Aug 2018 | Yes Bank Limited | ₹48.01 Lakh | Satisfied |
| 08 Aug 2018 | Yes Bank Limited | ₹1.95 Cr | Satisfied |
| 03 Aug 2018 | Yes Bank Limited | ₹1.45 Cr | Satisfied |
| 06 Jun 2018 | Yes Bank Limited | ₹33.89 Lakh | Satisfied |
| 16 Apr 2018 | Yes Bank Limited | ₹75 Cr | Satisfied |
Total charge records: 9 View all charges
Deals & Funding of Adani Renewable Energy Devco Private Limited
Adani Renewable Energy Devco Private Limited has 4 deals on record (3 rights issues, 1 secondary share transfer); the latest was in July 2016.
Deals on record (4 of 4)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Jul 2016 | Rights issue | ₹40.21 Cr | Investors: Adani Energy Holdings Limited |
| Feb 2016 | Rights issue | ₹14.88 Cr | Investors: Adani Energy Holdings Limited |
| Nov 2015 | Secondary share transfer | Undisclosed | Buyer: Adani Energy Holdings Limited, Sbg Cleantech Limited Seller: 2 individuals |
| Oct 2015 | Rights issue | ₹6.47 Cr | Investors: Adani Energy Holdings Limited |
Full deal history
All 4 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.
Legal Cases of Adani Renewable Energy Devco Private Limited
Adani Renewable Energy Devco Private Limited has 6 court cases on record: 6 filed against it. All cases are disposed. Status as checked on 30 Sep 2026.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 6 | 6 | 0 |
Cases on record (1 of 6)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, South West, Delhi | Civil suit | Filed against the company by State | Disposed |
Full case history
All 6 cases with case numbers, court, year-wise trend, opposite parties and decision dates are in the company report.
- Every case with its case number
- Year-wise trend
- Opposite parties
- Decision dates and orders
Verified entity values are shown only after access is granted.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
MSME Payment Delays by Adani Renewable Energy Devco Private Limited
Adani Renewable Energy Devco Private Limited has 9 MSME Form 1 returns on record between 2019 and 2024, listing 37 overdue payments to 17 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 17)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Eki Energy Services Limited | •••• | •••• | •••• |
| an individual supplier | •••• | •••• | •••• |
| Shah and Shah Associates | •••• | •••• | •••• |
| The Motwane Manufacturing Company Private Limited | •••• | •••• | •••• |
| Mahindra Teqo Private Limited | •••• | •••• | •••• |
Full MSME payment history
Every supplier, amount and due date from all 9 MSME Form 1 returns is in the company report.
- Every reported supplier due
- Amounts and due dates
- Reasons given in each return
- Period-by-period history
Verified entity values are shown only after access is granted.
Individuals and sole proprietors among the suppliers are not named. Amounts, due dates and filing dates are in the company report.
Employees and EPFO Compliance at Adani Renewable Energy Devco Private Limited
Adani Renewable Energy Devco Private Limited has a workforce of 109 employees as of Apr 07, 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.
Recent Activity on Adani Renewable Energy Devco Private Limited
Adani Renewable Energy Devco Private Limited has 14 board changes on record since 2018: 4 appointments and 10 cessations. The latest: Manish Kumar was appointed as Whole-Time Director on 16 Jan 2026.
25 earlier events are listed in the company report.
Credit Ratings, Litigation & Regulatory Alerts for Adani Renewable Energy Devco 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.
Subsidiaries & Group Companies of Adani Renewable Energy Devco 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 Adani Renewable Energy Devco Private Limited
Adani Renewable Energy Devco has 4 GST registrations: 4 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 07AAWCS0772N1ZI | Delhi | Active | 01 Jul 2017 |
| 37AAWCS0772N1ZF | Andhra Pradesh | Active | 01 Jul 2017 |
| 06AAWCS0772N1ZK | Haryana | Active | 19 Apr 2020 |
| 24AAWCS0772N1ZM | Gujarat | Active | 30 Jan 2023 |
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 Adani Renewable Energy Devco 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.
Related news about Adani Renewable Energy Devco Private Limited
Frequently Asked Questions about Adani Renewable Energy Devco Private Limited
Adani Renewable Energy Devco is an active private limited company based in New Delhi, Delhi, India. The company works in business support services, within the business services industry. It was incorporated on 11 August 2015 (11+ years old) and is registered under CIN U74140DL2015PTC283928.
Adani Renewable Energy Devco reported revenue of ₹42.55 Cr for FY 2026 (down 24% YoY).
Adani Renewable Energy Devco has 4 current directors:
- Manish Kumar - Whole-Time Director
- Ashwin Laljibhai Kyada - Director
- Mayank Bharat Gala - Director
- Prerak Kanaiyalal Thekadi - Director
Adani Renewable Energy Devco reported a net profit of ₹14 Lakh (net margin 0.3%) and EBITDA of ₹17.7 Cr (EBITDA margin 41.6%) for FY 2026, as per its filed financial statements.
The compounded annual growth rate (CAGR) of the revenue of Adani Renewable Energy Devco is -27% over three years and -23% over five years. In the latest year (FY 2026) revenue fell 24%. CAGR is the steady yearly rate that links the first and the last year.
The GSTIN of Adani Renewable Energy Devco is 07AAWCS0772N1ZI, registered in Delhi. The company has 4 GST registrations in all, of which 4 are active. Other active GSTINs include 37AAWCS0772N1ZF (Andhra Pradesh), 06AAWCS0772N1ZK (Haryana), 24AAWCS0772N1ZM (Gujarat).
The CIN (Corporate Identification Number) of Adani Renewable Energy Devco is U74140DL2015PTC283928. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Adani Renewable Energy Devco has 6 court cases on record: 6 filed against it.
Adani Renewable Energy Devco was incorporated on 11 August 2015, making it 11+ years old. It is registered with the Registrar of Companies, Delhi.
Adani Renewable Energy Devco has 4 deals on record (3 rights issues, 1 secondary share transfer); the latest was in July 2016.
The peers of Adani Renewable Energy Devco by revenue are Solitaire BTN Solar Private Limited, Sei Enerstar Renewable Energy Private Limited, Azure Green Tech Private Limited, Nigla Infrastructure & Power Projects Private Limited, Brightspark Energy Private Limited and 5 more, all in the Infrastructure industry (Power Projects, Renewable Energy).
Manish Kumar was appointed as Whole-Time Director on 16 Jan 2026. Ashwin Laljibhai Kyada ceased to be Additional Director on 16 Jul 2023. Mayank Bharat Gala ceased to be Additional Director on 16 Jul 2023. Adani Renewable Energy Devco has 14 board changes on record in total.