About Avaada Solar Energy Private Limited
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Avaada Solar Energy Private Limited is a private limited company based in Mumbai, Maharashtra, India, a subsidiary of Avaada Energy Private Limited. It operates in the solar energy solutions segment of the environmental services sector. It was incorporated on 12 January 2015 and has been in existence for over 11 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U40104MH2015PTC436170. Its GSTIN is 29AABCW6013F1ZG (Karnataka).
The company has an authorised share capital of ₹44 Cr and a paid-up capital of ₹43.76 Cr. It was formerly known as Welspun Solar Energy Private Limited. It is led by directors Radha Malayil Saraswathi Amma and Sandeep Mahesh.
Its last annual general meeting (AGM) was held on 26 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Mumbai, Maharashtra.
As per the financials filed for FY 2025, the company reported a revenue of ₹108.19 Cr, a decline of 18% compared to the previous year. For the same year it recorded a net profit of ₹11.84 Cr (net margin 10.9%) and EBITDA of ₹92.24 Cr (EBITDA margin 85.3%). Revenue has grown at a compounded annual rate (CAGR) of 4% over three years and 3% over five years.
The company has about 3 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Avaada Group. As per MCA filings, the company has open charges of ₹549.3 Cr and satisfied charges of ₹579.5 Cr on record. Court records list 4 cases involving the company, including 3 filed by the company and 1 filed against it; 3 cases are pending. The company has 2 deals on record (1 acquisition, 1 secondary share transfer); the latest was in April 2018. Its 8 peer companies in the Cleantech industry (Solar Power), with the same principal business activity (electric power generation, transmission and distribution) are compared by revenue, 4 larger and 4 smaller; the largest is Green Infra Wind Power Generation Limited with revenue of ₹110.74 Cr.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website avaadaenergy.com.
Company details
Name history
Avaada Solar Energy has undergone 2 name changes throughout its history. The company was previously known as Welspun Solar Energy Private Limited, and Avaada Solar Energy Private Limited. The current legal name is Avaada Solar Energy Private Limited.
| Company Name | Status |
|---|---|
| Avaada Solar Energy Private Limited | Current |
| Welspun Solar Energy Private Limited | Previous |
CIN history
Avaada Solar Energy has one previous CIN (Corporate Identification Number): U40104DL2015PTC275209. The current CIN is U40104MH2015PTC436170, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U40104MH2015PTC436170 | Current |
| U40104DL2015PTC275209 | Previous |
Contact details
Avaada Solar Energy Private Limited's registered office is in Mumbai, Maharashtra.
- Social Media
- Registered Address406 4th Floor Solaris One, N. S. Phadke Marg, Mumbai, Maharashtra, India – 400069
- IndustryEnvironment, Solar Energy Solutions
- 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
Brands
Avaada Solar Energy operates one associated brand: Avaada Group. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Renewable energy projects in solar, wind, and storage are developed. | avaada.com |
Business activity
The main business activity of Avaada Solar Energy is electricity, gas, steam and air condition supply. In detail, this covers electric power generation, transmission and distribution.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| D | Electricity, gas, steam and air condition supply | D1 | Electric power generation, transmission and distribution |
To see the full business activity and turnover split of Avaada Solar Energy Private Limited, buy the company report.
Financials of Avaada Solar Energy Private Limited
FY 2025 filings availableAvaada Solar Energy Private Limited reported revenue of ₹108.19 Cr (down 18% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue fell 18% in the latest year, but over five years it has grown at a compounded annual rate (CAGR) of 3%. EBITDA fell 23% 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 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
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| EBITDA | ₹92.24 Cr | ||||
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| Net Profit (PAT) | ₹11.84 Cr | ||||
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Financial Ratios
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
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| Profitability | |||||
| EBITDA Margin | 85.3% | ||||
| Net Profit Margin | 10.9% | ||||
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To see the full financial statements and ratios of Avaada Solar Energy Private Limited, buy the company report.
Board of directors of Avaada Solar Energy Private Limited
Avaada Solar Energy has 2 current directors and 7 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Radha Malayil Saraswathi Amma | Director | 04 Aug 2020 | 6 Years 2 Months | Current |
| Sandeep Mahesh Also directs: Avaada Rjclean Private Limited, Avaada Sataramh Private Limited, Avaada Sunshine Energy Private Limited and 5 more | Director | 04 Aug 2020 | 6 Years 2 Months | Current |
Peer comparison
Avaada Solar Energy Private Limited is compared with the 8 companies closest to it by revenue in the Cleantech industry (Solar Power), with the same principal business activity (electric power generation, transmission and distribution), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Green Infra Wind Power Generation Limited | ₹110.74 Cr (FY 2025) | -11.0% | Gurgaon, Haryana, India | |||
| Waaneep Solar Private Limited | ₹110.35 Cr (FY 2025) | 2.0% | New Delhi, Delhi, India | |||
| Universal Saur Urja Private Limited | ₹109.62 Cr (FY 2025) | 8.0% | New Delhi, Delhi, India | |||
| Abrel SPV 2 Limited | ₹108.98 Cr (FY 2025) | 119.0% | Mumbai, Maharashtra, India | |||
| Avaada Solar Energy Private Limitedthis company | ₹108.19 Cr (FY 2025) | ₹11.84 Cr | 10.9% | -18.0% | Mumbai, Maharashtra, India | |
| Adani Solar Energy Kutchh One Limited | ₹107.28 Cr (FY 2025) | -1.0% | Ahmedabad, Gujarat, India | |||
| Ramnad Solar Power Limited | ₹107.1 Cr (FY 2023) | 12.0% | Ahmedabad, Gujarat, India | |||
| Winsol Solar Fields (Polepally) Private Limited | ₹106.33 Cr (FY 2025) | -7.0% | Gurgaon, Haryana, India | |||
| Adani Solar Energy Four Limited | ₹105.95 Cr (FY 2025) | 2.0% | Ahmedabad, Gujarat, India |
To see the full peer comparison of Avaada Solar Energy Private Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 13 Jul 2022 | 100593225 | Idbi Trusteeship Services Limited | ₹549.3 Cr | Open | |
| 07 Dec 2018 | 100231149 | Others | ₹10 Cr | Satisfied | |
| 15 Oct 2018 | 100237714 | Yes Bank Limited | ₹28 Cr | Satisfied | |
| 19 Sep 2018 | 100203382 | Others | ₹519 Cr | Satisfied | |
| 11 May 2018 | 100194963 | Others | ₹22.5 Cr | Satisfied |
To see the full charge records of Avaada Solar Energy Private Limited, buy the company report.
Total charge records: 5 View all charges
Deals & funding
Avaada Solar Energy Private Limited has 2 deals on record (1 acquisition, 1 secondary share transfer); the latest was in April 2018.
Deals on record (2 of 2)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Apr 2018 | Acquisition | ₹173.05 Cr | Buyer: Avaada Energy Private Limited |
| Mar 2017 | Secondary share transfer | Undisclosed | Buyer: Avaada Energy Private Limited , Avaada Energy Private Limited & Vineet Mittal Seller: Walwhan Renewable Energy Limited , Welspun Renewables Energy Limited & Vineet Mittal |
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Avaada Solar Energy Private Limited has 4 court cases on record: 3 filed by Avaada Solar Energy, 1 filed against it. 3 cases are pending and 1 is disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 3 | 0 | 2 |
| Supreme Court | 1 | 1 | 1 |
Cases on record (4 of 4)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court of Karnataka | Writ petition | Filed by the company against Government of Karnataka and 1 other | Pending |
| Supreme Court | Court case (0427-Indirect Taxes Matters : Import/Export Policy) | Filed against the company by Karnataka Renewable Energy Development Limited Director 39 Shanthi Gruha, Bharath Scouts and Guides BLDG, Opp the Chief Post Master General Ofice Bengaluru 560001 , District: . , , Karnataka and 8 others | Pending |
| High Court of Karnataka | Writ petition | Filed by the company against Gulbarga Electricity Supply Company Limited and 3 others | Pending |
| High Court of Karnataka | Appeal | Filed by the company against Mangalore Electricity Supply Company Limited and 3 others | Disposed |
To see the full case history of Avaada Solar Energy Private Limited, buy the company report.
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.
Credit ratings & regulatory alerts
Avaada Solar Energy Private Limited was last rated by Indiarating on 12 Feb 2021.
| Rating agency | Rated on | Rating |
|---|---|---|
| Indiarating | 12 Feb 2021 |
To see the full credit ratings and regulatory alerts of Avaada Solar Energy Private Limited, buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Avaada Solar Energy Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
GST
Avaada Solar Energy has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 29AABCW6013F1ZG | Karnataka | Active | 16 May 2018 |
To see the full GST registrations and return filing status of Avaada Solar Energy Private Limited, buy the company report.
Recent activity
Avaada Solar Energy Private Limited has 9 board changes on record since 2015: 2 appointments and 7 cessations. The latest: Radha Malayil Saraswathi Amma ceased to be Additional Director on 28 Sep 2020.
11 earlier events are in the company report.
News
Frequently asked questions
Avaada Solar Energy is an active private limited company based in Mumbai, Maharashtra, India. The company works in solar energy solutions, within the environment industry. It was incorporated on 12 January 2015 (11+ years old) and is registered under CIN U40104MH2015PTC436170.
Avaada Solar Energy has 2 current directors:
- Radha Malayil Saraswathi Amma - Director
- Sandeep Mahesh - Director
The latest financial statements of Avaada Solar Energy on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 26 September 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Avaada Solar Energy is 29AABCW6013F1ZG, registered in Karnataka.
The CIN (Corporate Identification Number) of Avaada Solar Energy is U40104MH2015PTC436170. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Avaada Solar Energy has 4 court cases on record: 3 filed by the company and 1 filed against it. 3 are pending. Most are in the high courts.
Avaada Solar Energy was incorporated on 12 January 2015, making it 11+ years old. It is registered with the Registrar of Companies, Mumbai.
Avaada Solar Energy has 2 deals on record (1 acquisition, 1 secondary share transfer); the latest was in April 2018.
The peers of Avaada Solar Energy by revenue are Green Infra Wind Power Generation Limited, Waaneep Solar Private Limited, Universal Saur Urja Private Limited, Abrel SPV 2 Limited, Adani Solar Energy Kutchh One Limited and 3 more, all in the Cleantech industry (Solar Power), with the same principal business activity (electric power generation, transmission and distribution).
Radha Malayil Saraswathi Amma ceased to be Additional Director on 28 Sep 2020. Sandeep Mahesh ceased to be Additional Director on 28 Sep 2020. Mitish Manoharlal Somani ceased to be Director on 07 Aug 2020. Avaada Solar Energy has 9 board changes on record in total.
Avaada Solar Energy can be reached through the website avaadaenergy.com. Its registered office is in Mumbai, Maharashtra, India.
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