About Azure Power Forty Three Private Limited
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Azure Power Forty Three 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 20 January 2017 and has been in existence for over 9 years.
The company is registered with the Registrar of Companies (ROC), Delhi, under CIN U40100DL2017PTC310862. Its GSTIN is 08AAPCA1449K1ZB (Rajasthan). The company holds 3 GST registrations, of which 1 is active.
The company has an authorised share capital of ₹3.7 Cr and a paid-up capital of ₹1.22 Cr. It is led by directors Manoj Kumar Sharma and Kunal Jindal.
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 ₹386.79 Cr, a decline of 4% compared to the previous year. For the same year it recorded a net loss of ₹4.7 Cr (net margin -1.2%) and EBITDA of ₹347.6 Cr (EBITDA margin 89.9%). Revenue has grown at a compounded annual rate (CAGR) of 12% over three years.
The company has about 15 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Azure Power. As per MCA filings, the company has open charges of ₹2,355 Cr and satisfied charges of ₹6,192.13 Cr on record. Court records list 5 cases involving the company, including 4 filed by the company and 1 filed against it. The company has 4 deals on record (2 acquisitions, 1 rights issue, 1 convertible or debt financing), with disclosed funding of ₹113 Cr; the latest was in January 2020. Its 3 peer companies in the Cleantech industry (Solar Power), with the same principal business activity (electric power generation, transmission and distribution) are compared by revenue, 2 larger and 1 smaller; the largest is Adani Solar Energy Ap Six Private Limited with revenue of ₹401.01 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 azurepower.com.
Company details
Contact details
Azure Power Forty Three Private Limited's registered office is in New Delhi, Delhi. Its website is azurepower.com. Its e-mail address is in the company report.
- Email
- 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 Three 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 Three 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 Three 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 Three Private Limited, buy the company report.
Financials of Azure Power Forty Three Private Limited
FY 2025 filings availableAzure Power Forty Three Private Limited reported revenue of ₹386.79 Cr (down 4% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue fell 4% in the latest year, but over three years it has grown at a compounded annual rate (CAGR) of 12%. EBITDA rose 1% 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 | ₹347.6 Cr | ||||
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| Net Profit (PAT) | -₹4.7 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 | 89.9% | ||||
| Net Profit Margin | -1.2% | ||||
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To see the full financial statements and ratios of Azure Power Forty Three Private Limited, buy the company report.
Board of directors of Azure Power Forty Three Private Limited
Azure Power Forty Three has 2 current directors and 11 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Manoj Kumar Sharma Also directs: Azure Green Hydrogen Private Limited, Azure Sunshine Private Limited, Azure Power Mars Private Limited and 5 more | Director | 03 Sep 2024 | 2 Years 2 Months | Current |
| Kunal Jindal Also directs: Azure Power Infrastructure Private Limited, Azure Power (Raj.) Private Limited, Azure Power Rooftop Four Private Limited and 5 more | Additional Director | 28 Jul 2025 | 1 Years 3 Months | Current |
Peer comparison
Azure Power Forty Three Private Limited is compared with the 3 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 |
|---|---|---|---|---|---|---|
| Adani Solar Energy Ap Six Private Limited | ₹401.01 Cr (FY 2025) | 1.0% | Ahmedabad, Gujarat, India | |||
| Hinduja Renewables Energy Private Limited | ₹392.46 Cr (FY 2025) | 33.0% | Mumbai, Maharashtra, India | |||
| Azure Power Forty Three Private Limitedthis company | ₹386.79 Cr (FY 2025) | -₹4.7 Cr | -1.2% | -4.0% | 15 | New Delhi, Delhi, India |
| Onward Solar Power Private Limited | ₹350.44 Cr (FY 2025) | 52.0% | New Delhi, Delhi, India |
To see the full peer comparison of Azure Power Forty Three Private Limited, buy the company report.
Auditor
Azure Power Forty Three Private Limited is audited by S.R. BATLIBOI & CO. LLP for the financial year 2021.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| S.R. BATLIBOI & CO. LLP | FY 2021 | 301003E/E300005 |
Shareholding
The shareholding of Azure Power Forty Three Private Limited is on record for 4 financial years, the latest being FY 2021, split between promoters, domestic institutions, public shareholders and others.
| Shareholder category | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|
| Promoters | ||||
| Domestic institutional investors (DII) | ||||
| Public | ||||
| Others |
To see the full shareholding pattern of Azure Power Forty Three Private Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 08 Jan 2026 | 101219804 | Others | ₹10 Cr | Open | |
| 20 Jan 2022 | 100532127 | Others | ₹2,345 Cr | Open | |
| 01 Dec 2020 | 100389889 | Others | ₹1,953 Cr | Satisfied | |
| 29 May 2020 | 100338434 | Others | ₹265.13 Cr | Satisfied | |
| 28 Jan 2020 | 100318534 | Others | ₹1,809 Cr | Satisfied |
To see the full charge records of Azure Power Forty Three Private Limited, buy the company report.
Total charge records: 6 View all charges
Deals & funding
Azure Power Forty Three Private Limited has 4 deals on record (2 acquisitions, 1 rights issue, 1 convertible or debt financing), with disclosed funding of ₹113 Cr; the latest was in January 2020.
Deals on record (3 of 4)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Dec 2019 | Rights issue | ₹13 Cr | Investors: Azure Power India Private Limited |
| Mar 2019 | Acquisition | ₹256.78 Cr | Buyer: Azure Power India Private Limited |
| Jan 2019 | Acquisition | ₹9.12 Cr | Buyer: Azure Power India Private Limited |
To see the full deal history of Azure Power Forty Three 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
Azure Power Forty Three Private Limited has 5 court cases on record: 4 filed by Azure Power Forty Three, 1 filed against it. All cases are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 5 | 1 | 0 |
Cases on record (5 of 5)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court, RAJASTHAN | Writ petition | Filed against the company by M/S Om Jay Shree Bhairavnath Contractor | Disposed |
| High Court, RAJASTHAN | Appeal | Filed by the company against an individual | Disposed |
| High Court, RAJASTHAN | Court case (CSTAY) | Filed by the company against an individual | Disposed |
| High Court, RAJASTHAN | Court case (CSTAY) | Filed by the company against an individual | Disposed |
| High Court, RAJASTHAN | Revision petition | Filed by the company against an individual | Disposed |
To see the full case history of Azure Power Forty Three 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 Three Private Limited was last rated by Crisil on 06 Oct 2021.
| Rating agency | Rated on | Rating |
|---|---|---|
| Crisil | 06 Oct 2021 |
To see the full credit ratings and regulatory alerts of Azure Power Forty Three Private Limited, buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Azure Power Forty Three Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Employees & EPFO
Azure Power Forty Three Private Limited has a workforce of 15 employees on its EPFO records as of May 2026, across 1 active EPFO establishment.
Headcount by financial year
| Financial year | Employees (EPFO) |
|---|---|
| FY 2026-27 | 15 |
| FY 2025-26 | |
| FY 2024-25 | |
| FY 2023-24 | |
| FY 2022-23 | |
| FY 2021-22 | |
| FY 2020-21 | |
| FY 2019-20 |
To see the full employee and EPFO history of Azure Power Forty Three Private Limited, buy the company report.
GST
Azure Power Forty Three has 3 GST registrations: 1 active and 2 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 08AAPCA1449K1ZB | Rajasthan | Active | 31 Oct 2018 |
To see the full GST registrations and return filing status of Azure Power Forty Three Private Limited, buy the company report.
Recent activity
Azure Power Forty Three Private Limited has 13 board changes on record since 2017: 2 appointments and 11 cessations. The latest: Kunal Jindal was appointed as Additional Director on 28 Jul 2025.
17 earlier events are in the company report.
News
Frequently asked questions
Azure Power Forty Three 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 20 January 2017 (9+ years old) and is registered under CIN U40100DL2017PTC310862.
Azure Power Forty Three has 2 current directors:
- Manoj Kumar Sharma - Director
- Kunal Jindal - Additional Director
The latest financial statements of Azure Power Forty Three 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 Three is 08AAPCA1449K1ZB, registered in Rajasthan. The company has 3 GST registrations in all, of which 1 is active and 2 are cancelled or inactive.
The CIN (Corporate Identification Number) of Azure Power Forty Three is U40100DL2017PTC310862. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Azure Power Forty Three has 5 court cases on record: 4 filed by the company and 1 filed against it.
Azure Power Forty Three was incorporated on 20 January 2017, making it 9+ years old. It is registered with the Registrar of Companies, Delhi.
Azure Power Forty Three has 4 deals on record (2 acquisitions, 1 rights issue, 1 convertible or debt financing), with disclosed funding of ₹113 Cr; the latest was in January 2020.
The peers of Azure Power Forty Three by revenue are Adani Solar Energy Ap Six Private Limited, Hinduja Renewables Energy Private Limited, Onward Solar Power Private Limited, all in the Cleantech industry (Solar Power), with the same principal business activity (electric power generation, transmission and distribution).
Kunal Jindal was appointed as Additional Director on 28 Jul 2025. Sachin Bali ceased to be Director on 28 Jul 2025. Manoj Kumar Sharma ceased to be Additional Director on 19 Sep 2024. Azure Power Forty Three has 13 board changes on record in total.
Azure Power Forty Three can be reached through the website azurepower.com. Its registered office is in New Delhi, Delhi, India.
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