Altigreen Propulsion Labs Private Limited

Altigreen Propulsion Labs Private Limited - automotive in Malur, Karnataka, India. FY 2026 financials & compliance.
CIN U74900KA2013PTC067796 Incorporated 08 February 2013 ROC Bangalore HQ Malur, Karnataka, India
Active Private Limited Company automotive MSME · Medium
Data last updated
Revenue · FY 2025
₹23.19 Cr
▼ 81% YoY
Net loss · FY 2025
₹103.92 Cr
Net margin -448.2%
EBITDA · FY 2025
-₹89.15 Cr
EBITDA margin -384.5%
Authorised capital
₹2.99 Cr
Registered with MCA
Paid-up capital
₹2.1 Cr
Issued & subscribed
Open charges
₹28 Cr
Satisfied ₹3 Cr
Company age
13 yrs
Est. 2013
Employees · EPFO
368
Provident fund records

About Altigreen Propulsion Labs Private Limited

Data last updated:

Altigreen Propulsion Labs Private Limited is a private limited company based in Malur, Karnataka, India. It operates in the electrical and bio fuel vehicles segment of the automotive sector. It was incorporated on 08 February 2013 and has been in existence for over 13 years.

The company is registered with the Registrar of Companies (ROC), Bangalore, under CIN U74900KA2013PTC067796. Its GSTIN is 29AALCA3226E1ZT (Karnataka). The company holds 3 GST registrations, all of them active.

The company has an authorised share capital of ₹2.99 Cr and a paid-up capital of ₹2.1 Cr. It is led by directors Amitabh Saran and Shalendra Kumar Gupta.

Its last annual general meeting (AGM) was held on 11 September 2024, and its latest financial statements are for the year ended 31 March 2024. The registered office is at 2 Plot No 2.3.4 4th Phase Industrial Area H Hosakote Village, Lakur Hobli Malur Industrialarea Kolar Karnataka 563160, Karnataka, India – 563160.

As per the financials filed for FY 2025, the company reported a revenue of ₹23.19 Cr, a decline of 81% compared to the previous year. For the same year it recorded a net loss of ₹103.92 Cr (net margin -448.2%) and EBITDA of -₹89.15 Cr (EBITDA margin -384.5%). Revenue has declined at a compounded annual rate (CAGR) of 70% over three years and 50% over five years.

The company has about 368 employees on its provident fund (EPFO) records.

The company is associated with 1 brand: Altigreen. As per MCA filings, the company has open charges of ₹28 Cr and satisfied charges of ₹3 Cr on record. Court records list 5 cases involving the company, including 5 filed against it; 2 cases are pending. The company has 17 deals on record (9 funding rounds, 4 rights issues, 4 secondary share transfers), with disclosed funding of ₹315.97 Cr; the latest was in December 2024. Its 10 peer companies in the Automobiles industry (Electric and Bio Fuel Vehicles) are compared by revenue, 5 larger and 5 smaller; the largest is SPR Emf Innovations Private Limited with revenue of ₹23.76 Cr. The company has 2 MSME Form 1 returns on record between 2023 and 2024, listing 163 overdue payments to 22 micro and small suppliers.

Altigreen Propulsion Labs Private Limited is registered as a medium enterprise under the Udyam registration framework (Reg. No. UDYAM-KR-03-0161096). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website altigreen.com.

Company Details of Altigreen Propulsion Labs Private Limited
CIN U74900KA2013PTC067796
Registration Number 067796
Incorporation Date 08 February 2013
ROC Bangalore
Listing Status Unlisted
Company Status Active
Date of Last AGM 11 September 2024
Date of Balance Sheet 31 March 2024
Compliance Status Active Compliant
MSME Classification Medium
Udyam Registration UDYAM-KR-03-0161096

Recognitions & Rankings of Altigreen Propulsion Labs

MSME (Udyam registered) Ministry of MSME
Category
Medium (2024-25)
Udyam number
UDYAM-KR-03-0161096
Contact Details
  • Email
    Locked
  • Telephone
    Locked
  • Social Media
  • Registered Address
    2 Plot No 2.3.4 4th Phase Industrial Area H Hosakote Village, Lakur Hobli Malur Industrialarea Kolar Karnataka 563160, Karnataka, India – 563160
  • Industry
    Automotive, Electrical and Bio Fuel Vehicles
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Financials, compliance, directors, charges, ownership and filings for Altigreen Propulsion Labs Private Limited in one report.

Financials from 2015 Directors & ownership Charges & compliance

Associated Brands with Altigreen Propulsion Labs Private Limited

Altigreen Propulsion Labs operates one associated brand: Altigreen. Each brand links to its own profile.

BrandDescriptionWebsite
Electric mobility solutions are offered via indigenous three-wheelers.altigreen.com

Business Activity of Altigreen Propulsion Labs Private Limited

The main business activities of Altigreen Propulsion Labs are manufacturing and support service to organizations. In detail, this covers motor vehicles, trailers, semi trailers and other transport vehicles and other support services to organizations. 2 activity segments are registered with the MCA.

Main Activity Group CodeDescription of Main ActivityBusiness Activity CodeDescription of Business ActivityTurnover Percentage
CManufacturingC11Motor vehicles, trailers, semi trailers and other Transport VehiclesLocked
NSupport service to OrganizationsN7Other support services to organizationsLocked
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Business activity turnover details

Turnover share and past changes in activity are in the company report.

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Financials of Altigreen Propulsion Labs Private Limited FY 2024 filings available

Altigreen Propulsion Labs Private Limited reported revenue of ₹23.19 Cr (down 81% YoY) for FY 2025.

Revenue · FY 2025
₹23.19 Cr ▼ 81%
Net loss · FY 2025
₹103.92 Cr margin -448.2%
EBITDA · FY 2025
-₹89.15 Cr margin -384.5%

Compounded Annual Growth Rate (CAGR) of Altigreen Propulsion Labs Private Limited

Revenue CAGR growth
1 year
▼ 81%
3 years · compounded
▼ 70%
5 years · compounded
▼ 50%
EBITDA CAGR growth
1 year
▲ 60%
3 years · compounded
▼ 37%
5 years · compounded
▼ 20%

Revenue has declined at a compounded annual rate (CAGR) of 50% over five years, including a 81% fall in the latest year. EBITDA rose 60% 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 Altigreen Propulsion Labs Private Limited

MetricsFY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 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-₹89.15 Cr••••••••••••••••
Profit Before Tax••••••••••••••••••••
Tax Expense••••••••••••••••••••
Net Profit (PAT)-₹103.92 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 Altigreen Propulsion Labs Private Limited

MetricsFY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21
Profitability
EBITDA Margin-384.5%••••••••••••••••
Net Profit Margin-448.2%••••••••••••••••
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 Altigreen Propulsion Labs are in the company report.

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Financial statements from 2015

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Board of Directors of Altigreen Propulsion Labs Private Limited

Altigreen Propulsion Labs has 2 current directors and 12 former directors. Current directors are listed first, with their designation and appointment date.

Current Directors
NameDesignationAppointment DateTenureStatus
Amitabh SaranDirector08 Feb 201313 Years 8 MonthsCurrent
Shalendra Kumar GuptaDirector08 Feb 201313 Years 8 MonthsCurrent

Peer Comparison of Altigreen Propulsion Labs Private Limited

Altigreen Propulsion Labs Private Limited is compared with the companies closest to it by revenue in the Automobiles industry (Electric and Bio Fuel Vehicles). Net profit, margin and employee counts of each company are in the company report.

CompanyRevenueNet profitMarginGrowth (1 yr)EmployeesLocation
SPR Emf Innovations Private Limited₹23.76 Cr (FY 2025)••••••••67.0%••••Palladam, Tamil Nadu, India
Tunwal E-Vehicle India Private Limited₹23.74 Cr (FY 2025)••••••••13.0%••••Pune, Maharashtra, India
Shubh Mandhan Automotive Private Limited₹23.71 Cr (FY 2024)••••••••248.0%••••Raipur, Chhattisgarh, India
JS Mobileon Private Limited₹23.4 Cr (FY 2025)••••••••3.0%••••Delhi, India
Ins Automobiles Private Limited₹23.19 Cr (FY 2025)••••••••5455.0%••••Azamgarh, Uttar Pradesh, India
Altigreen Propulsion Labs Private Limited this company₹23.19 Cr (FY 2025)••••••••-81.0%••••Malur, Karnataka, India
Dial E- Vahan Private Limited₹22.97 Cr (FY 2025)••••••••128.0%••••Hisar, Haryana, India
Mindra Green Energy LLP₹22.94 Cr (FY 2023)••••••••151.0%••••Ahmedabad, Gujarat, India
Mercury Ev-Tech Limited Listed₹22.53 Cr (FY 2024)••••••••40.0%••••Karjan, Gujarat, India
Nysha Mobility Tech Private Limited₹22.24 Cr (FY 2024)••••••••595.0%••••Nelamangala, Karnataka, India
Zivah International Private Limited₹22.04 Cr (FY 2025)••••••••-2.0%••••New Delhi, Delhi, India

Peers are the five companies nearest above and the five nearest below Altigreen Propulsion Labs by revenue in the Automobiles industry (Electric and Bio Fuel Vehicles), 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 Altigreen Propulsion Labs Private Limited

Altigreen Propulsion Labs Private Limited is audited by SR Batliboi and Associates LLP for the financial year 2023.

NameStatusAppointment DateCessation Date
SR Batliboi and Associates LLPLockedLockedLocked
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Ownership and Shareholding of Altigreen Propulsion Labs Private Limited

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Charges & Borrowings of Altigreen Propulsion Labs Private Limited

Open charges
₹28 Cr
Satisfied charges
₹3 Cr
Breakdown by lending institutions
State Bank of India₹16.00 Cr
Hdfc Bank Limited₹7.00 Cr
Others₹5.00 Cr
Latest charge details
DateLenderAmountStatus
08 Mar 2024Others₹5 CrOpen
29 May 2023State Bank of India₹16 CrOpen
02 May 2023Hdfc Bank Limited₹7 CrOpen
10 Mar 2021Others₹3 CrSatisfied

Total charge records: 4 View all charges

Deals & Funding of Altigreen Propulsion Labs Private Limited

Altigreen Propulsion Labs Private Limited has 17 deals on record (9 funding rounds, 4 rights issues, 4 secondary share transfers), with disclosed funding of ₹315.97 Cr; the latest was in December 2024.

Total deals
17
Funding rounds
9
Rights issues
4
Secondary share transfers
4
Disclosed funding
₹315.97 Cr

Deals on record (5 of 17)

WhenDealAmountParties
Feb 2022Funding round · Series A₹291.57 CrInvestors: Sixth Sense Ventures, Reliance New Energy Limited , Accurant International
Apr 2020Rights issue₹8.5 CrInvestors: Drs5 Llc, 3 individuals
Jan 2019Rights issue₹11.74 CrInvestors: Sterling Tools Limited , The Hi-Tech Gears Limited, 2 individuals
Dec 2017Secondary share transferUndisclosedBuyer: APL ESOP Trust Trustees, Jupiter Capital, 2 individuals
Seller: 3 individuals
Nov 2013Funding round · Seed₹2.01 CrInvestors: I2eye Interactive Private Limited , 3 individuals
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MSME Payment Delays by Altigreen Propulsion Labs Private Limited

Altigreen Propulsion Labs Private Limited has 2 MSME Form 1 returns on record between 2023 and 2024, listing 163 overdue payments to 22 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 22)

SupplierAmount dueDue sinceReported on
Apeiron Mobility Private Limited••••••••••••
an individual supplier••••••••••••
JP Enterprises••••••••••••
CVM Precision Products Private Limited••••••••••••
an individual supplier••••••••••••
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Full MSME payment history

Every supplier, amount and due date from all 2 MSME Form 1 returns is in the company report.

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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 Altigreen Propulsion Labs Private Limited

Altigreen Propulsion Labs Private Limited has a workforce of 368 employees as of Apr 08, 2024.

Employee count
368
Active EPFO establishments
1
Employee growth
44.88%
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Monthly headcount, contribution history and filing status are in the company report.

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Recent Activity on Altigreen Propulsion Labs Private Limited

Altigreen Propulsion Labs Private Limited has 26 board changes on record since 2013: 14 appointments and 12 cessations. The latest: Ajay Dilkush Sarupria ceased to be Director on 22 Nov 2024.

Ceased
Ajay Dilkush Sarupria ceased to be Director.
Ceased
Subhabrata Ghosh ceased to be Nominee Director.
Ceased
Nikhil Kishorchandra Vora ceased to be Nominee Director.
Ceased
Perumal Srinivasan ceased to be Nominee Director.
Charges
A charge with Others of Rs. 5.00 Cr registered on 08 Mar 2024 with Charge ID 100894800 was modified on 13 Sep 2024.
AGM
Altigreen Propulsion Labs Private Limited last Annual general meeting of members was held on 11 Sep 2024 as per latest MCA records.
Charges
A charge with Hdfc Bank Limited of Rs. 7.00 Cr registered on 02 May 2023 with Charge ID 100747281 was modified on 01 Aug 2024.
Filing
Altigreen Propulsion Labs Private Limited has filed its annual Financial statements for the year ended 31 Mar 2024 with Roc Bangalore.
Charges
A charge with Others amounted to Rs. 5.00 Cr with Charge ID 100894800 was registered on 08 Mar 2024.
Charges
A charge with State Bank Of India amounted to Rs. 16.00 Cr with Charge ID 100731533 was registered on 29 May 2023.
Charges
A charge registered on 10 Mar 2021 via Charge ID 100432015 with Others was fully satisfied on 26 May 2023.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 7.00 Cr with Charge ID 100747281 was registered on 02 May 2023.

24 earlier events are listed in the company report.

Credit Ratings, Litigation & Regulatory Alerts for Altigreen Propulsion Labs Private Limited

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Subsidiaries & Group Companies of Altigreen Propulsion Labs Private Limited

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GST Compliance of Altigreen Propulsion Labs Private Limited

Altigreen Propulsion Labs has 3 GST registrations: 3 active.

Total GSTINs
3
Active
3
GSTINStateStatusRegistered on
29AALCA3226E1ZTKarnatakaActive01 Jul 2017
07AALCA3226E1ZZDelhiActive20 Jan 2021
27AALCA3226E1ZXMaharashtraActive16 May 2024
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MCA Filings & Documents of Altigreen Propulsion Labs Private Limited

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Frequently Asked Questions about Altigreen Propulsion Labs Private Limited

Altigreen Propulsion Labs is an active private limited company based in Malur, Karnataka, India. The company works in electrical and bio fuel vehicles, within the automotive industry. It was incorporated on 08 February 2013 (13+ years old) and is registered under CIN U74900KA2013PTC067796.

Altigreen Propulsion Labs reported revenue of ₹23.19 Cr for FY 2025 (down 81% YoY).

Altigreen Propulsion Labs has 2 current directors:

Altigreen Propulsion Labs reported a net loss of ₹103.92 Cr (net margin -448.2%) and EBITDA of -₹89.15 Cr (EBITDA margin -384.5%) for FY 2025, as per its filed financial statements.

The compounded annual growth rate (CAGR) of the revenue of Altigreen Propulsion Labs is -70% over three years and -50% over five years. In the latest year (FY 2025) revenue fell 81%. CAGR is the steady yearly rate that links the first and the last year.

The GSTIN of Altigreen Propulsion Labs is 29AALCA3226E1ZT, registered in Karnataka. The company has 3 GST registrations in all, of which 3 are active. Other active GSTINs include 07AALCA3226E1ZZ (Delhi), 27AALCA3226E1ZX (Maharashtra).

The CIN (Corporate Identification Number) of Altigreen Propulsion Labs is U74900KA2013PTC067796. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.

Altigreen Propulsion Labs has 5 court cases on record: 5 filed against it. 2 are pending.

Altigreen Propulsion Labs was incorporated on 08 February 2013, making it 13+ years old. It is registered with the Registrar of Companies, Bangalore.

Altigreen Propulsion Labs has 17 deals on record (9 funding rounds, 4 rights issues, 4 secondary share transfers), with disclosed funding of ₹315.97 Cr; the latest was in December 2024.

The peers of Altigreen Propulsion Labs by revenue are SPR Emf Innovations Private Limited, Tunwal E-Vehicle India Private Limited, Shubh Mandhan Automotive Private Limited, JS Mobileon Private Limited, Ins Automobiles Private Limited and 5 more, all in the Automobiles industry (Electric and Bio Fuel Vehicles).

Ajay Dilkush Sarupria ceased to be Director on 22 Nov 2024. Subhabrata Ghosh ceased to be Nominee Director on 14 Nov 2024. Nikhil Kishorchandra Vora ceased to be Nominee Director on 13 Nov 2024. Altigreen Propulsion Labs has 26 board changes on record in total.

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