About Azure Power Forty Private Limited
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Azure Power Forty Private Limited is a private limited company based in New Delhi, Delhi, India, a subsidiary of Azure Power India Private Limited. It operates in the solar energy solutions segment of the environmental services sector. It was incorporated on 24 June 2016 and has been in existence for over 10 years.
The company is registered with the Registrar of Companies (ROC), Delhi, under CIN U40107DL2016PTC302018. Its GSTIN is 18AAOCA5434B1ZT (Assam). The company holds 2 GST registrations, of which 1 is active.
The company has an authorised share capital of ₹3 Cr and a paid-up capital of ₹2.63 Cr. It is led by directors Sonia Varma and Sanjeev Chhabra.
Its last annual general meeting (AGM) was held on 25 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Dsc – 304 Second Floor DLF South Court, Saket District Centre, New Delhi, Delhi, India – 110017.
As per the financials filed for FY 2025, the company reported a revenue of ₹60.92 Cr, a decline of 11% compared to the previous year. For the same year it recorded a net loss of ₹8.01 Cr (net margin -13.2%) and EBITDA of ₹50.03 Cr (EBITDA margin 82.1%). Revenue has grown at a compounded annual rate (CAGR) of 29% over three years.
The company is associated with 1 brand: Azure Power. As per MCA filings, the company has open charges of ₹560 Cr and satisfied charges of ₹547.25 Cr on record. Court records list 21 cases involving the company, including 5 filed by the company and 16 filed against it; 2 cases are pending. The company has 3 deals on record (2 acquisitions, 1 rights issue); the latest was in August 2021. Its 9 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 5 smaller; the largest is Alex Astral Power Private Limited with revenue of ₹61.7 Cr. The company has 32 MSME Form 1 returns on record between 2020 and 2024, listing 372 overdue payments to 38 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 azurepower.com.
Company details
Contact details
Azure Power Forty Private Limited's registered office is in New Delhi, Delhi. Its website is azurepower.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressDsc – 304 Second Floor DLF South Court, Saket District Centre, New Delhi, Delhi, India – 110017
- IndustryEnvironment, Solar Energy Solutions
To see the full contact details of Azure Power Forty Private Limited, buy the company report.
- 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
Azure Power Forty operates one associated brand: Azure Power. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Provider of independent power producer in the utility scale renewable energy | azurepower.com |
Business activity
The main business activity of Azure Power Forty 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 Azure Power Forty Private Limited, buy the company report.
Financials of Azure Power Forty Private Limited
FY 2025 filings availableAzure Power Forty Private Limited reported revenue of ₹60.92 Cr (down 11% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue fell 11% in the latest year, but over three years it has grown at a compounded annual rate (CAGR) of 29%. EBITDA fell 11% 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 | ₹50.03 Cr | ||||
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| Net Profit (PAT) | -₹8.01 Cr | ||||
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Financial Ratios
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 82.1% | ||||
| Net Profit Margin | -13.2% | ||||
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To see the full financial statements and ratios of Azure Power Forty Private Limited, buy the company report.
Board of directors of Azure Power Forty Private Limited
Azure Power Forty has 2 current directors and 12 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Sonia Varma | Additional Director | 22 Jul 2025 | 1 Years 3 Months | Current |
| Sanjeev Chhabra Also directs: Azure Power Mars Private Limited, Azure Power Pluto Private Limited, Azure Power Fifty Two Private Limited and 5 more | Additional Director | 22 Jul 2025 | 1 Years 3 Months | Current |
Peer comparison
Azure Power Forty Private Limited is compared with the 9 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 |
|---|---|---|---|---|---|---|
| Alex Astral Power Private Limited | ₹61.7 Cr (FY 2024) | -17.0% | Kolkata, West Bengal, India | |||
| Acme Solar Power Technology Private Limited | ₹61.37 Cr (FY 2025) | -2.0% | Gurgaon, Haryana, India | |||
| Clean Max Zeus Private Limited | ₹61.31 Cr (FY 2025) | 23.0% | Mumbai, Maharashtra, India | |||
| Renew Solar Energy (Rajasthan) Private Limited | ₹61.01 Cr (FY 2025) | -3.0% | New Delhi, Delhi, India | |||
| Azure Power Forty Private Limitedthis company | ₹60.92 Cr (FY 2025) | -₹8.01 Cr | -13.2% | -11.0% | New Delhi, Delhi, India | |
| Adani Solar Energy Kutchh Two Private Limited | ₹60.64 Cr (FY 2025) | -7.0% | Ahmedabad, Gujarat, India | |||
| Zuvan Energy Private Limited | ₹60.47 Cr (FY 2025) | -1.0% | Hyderabad, Telangana, India | |||
| Clean Max Maximus Private Limited | ₹60.38 Cr (FY 2025) | 20.0% | Mumbai, Maharashtra, India | |||
| Sunborne Energy Andhra Private Limited | ₹60.2 Cr (FY 2025) | 14.0% | Hyderabad, Telangana, India | |||
| Clean Max Bhoomi Private Limited | ₹59.9 Cr (FY 2025) | 12.0% | Mumbai, Maharashtra, India |
To see the full peer comparison of Azure Power Forty Private Limited, buy the company report.
Auditor
Azure Power Forty Private Limited is audited by ASA & Associates LLP for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| ASA & Associates LLP | FY 2023 | 009571N/N500006 |
Shareholding
The shareholding of Azure Power Forty Private Limited is on record for 5 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 | FY 2019 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Azure Power Forty Private Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 31 Mar 2022 | 100566718 | Others | ₹560 Cr | Open | |
| 02 Jun 2021 | 100448315 | Others | ₹34.97 Cr | Satisfied | |
| 13 Jul 2020 | 100349670 | Others | ₹151.29 Cr | Satisfied | |
| 30 Dec 2019 | 100312404 | Others | ₹360.99 Cr | Satisfied |
To see the full charge records of Azure Power Forty Private Limited, buy the company report.
Total charge records: 4 View all charges
Deals & funding
Azure Power Forty Private Limited has 3 deals on record (2 acquisitions, 1 rights issue); the latest was in August 2021.
Deals on record (3 of 3)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Aug 2021 | Rights issue | ₹6.25 Cr | Investors: Azure Power India Private Limited |
| Jul 2019 | Acquisition | ₹111.05 Cr | Buyer: Azure Power India Private Limited |
| Jan 2019 | Acquisition | ₹19.5 Cr | Buyer: Azure Power India Private Limited |
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Azure Power Forty Private Limited has 21 court cases on record: 5 filed by Azure Power Forty, 16 filed against it. 2 cases are pending and 19 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 12 | 11 | 2 |
| High courts | 9 | 5 | 0 |
Cases on record (5 of 21)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court, Assam | Writ petition | Filed by the company against The Assam Power Distribution Co. Ltd. and 12 others | Disposed |
| District court, Nagaon, Assam | Civil suit | Filed against the company by an individual | Pending |
| District court, Nagaon, Assam | Civil suit | Filed against the company by an individual | Pending |
| District court, Nagaon, Assam | Appeal | Filed against the company by individuals | Disposed |
| High Court, Assam | Interim or miscellaneous application | Filed against the company by individuals | Disposed |
To see the full case history of Azure Power Forty 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
Azure Power Forty Private Limited was last rated by Care on 28 Apr 2022.
| Rating agency | Rated on | Rating |
|---|---|---|
| Care | 28 Apr 2022 |
To see the full credit ratings and regulatory alerts of Azure Power Forty Private Limited, buy the company report.
MSME payment delays
Azure Power Forty Private Limited has 32 MSME Form 1 returns on record between 2020 and 2024, listing 372 overdue payments to 38 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 38)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Hach Ott India Private Limited | |||
| Integrated Wireless Solutions Private Limited | |||
| an individual supplier | |||
| Aarvi Encon Limited | |||
| an individual supplier |
To see the full MSME payment records of Azure Power Forty Private Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
GST
Azure Power Forty has 2 GST registrations: 1 active and 1 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 18AAOCA5434B1ZT | Assam | Active | 19 Jul 2018 |
To see the full GST registrations and return filing status of Azure Power Forty Private Limited, buy the company report.
Recent activity
Azure Power Forty Private Limited has 14 board changes on record since 2016: 2 appointments and 12 cessations. The latest: Sachin Bali ceased to be Director on 29 Jul 2025.
15 earlier events are in the company report.
News
Frequently asked questions
Azure Power Forty is an active private limited company based in New Delhi, Delhi, India. The company works in solar energy solutions, within the environment industry. It was incorporated on 24 June 2016 (10+ years old) and is registered under CIN U40107DL2016PTC302018.
Azure Power Forty has 2 current directors:
- Sonia Varma - Additional Director
- Sanjeev Chhabra - Additional Director
The latest financial statements of Azure Power Forty on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 25 September 2025. Year-wise statements from FY 2017 are in the company report.
The GSTIN of Azure Power Forty is 18AAOCA5434B1ZT, registered in Assam. The company has 2 GST registrations in all, of which 1 is active and 1 is cancelled or inactive.
The CIN (Corporate Identification Number) of Azure Power Forty is U40107DL2016PTC302018. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Azure Power Forty has 21 court cases on record: 5 filed by the company and 16 filed against it. 2 are pending. Most are in the district courts.
Azure Power Forty was incorporated on 24 June 2016, making it 10+ years old. It is registered with the Registrar of Companies, Delhi.
Azure Power Forty has 3 deals on record (2 acquisitions, 1 rights issue); the latest was in August 2021.
The peers of Azure Power Forty by revenue are Alex Astral Power Private Limited, Acme Solar Power Technology Private Limited, Clean Max Zeus Private Limited, Renew Solar Energy (Rajasthan) Private Limited, Adani Solar Energy Kutchh Two Private Limited and 4 more, all in the Cleantech industry (Solar Power), with the same principal business activity (electric power generation, transmission and distribution).
Sachin Bali ceased to be Director on 29 Jul 2025. Sanjeev Chhabra was appointed as Additional Director on 22 Jul 2025. Sonia Varma was appointed as Additional Director on 22 Jul 2025. Azure Power Forty has 14 board changes on record in total.
Azure Power Forty has 32 MSME Form 1 returns on record between 2020 and 2024, listing 372 overdue payments to 38 micro and small suppliers. The latest return was filed on 30 Apr 2024.
Azure Power Forty can be reached through the website azurepower.com. Its registered office is in New Delhi, Delhi, India.
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