About Azure Power Makemake Private Limited
Data last updated:
Azure Power Makemake 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 03 January 2015 and has been in existence for over 11 years.
The company is registered with the Registrar of Companies (ROC), Delhi, under CIN U40106DL2015PTC274954. Its GSTIN is 03AANCA1635R1ZD (Punjab). The company holds 2 GST registrations, of which 1 is active.
The company has an authorised share capital of ₹30 Lakh and a paid-up capital of ₹26.85 Lakh. It is led by directors Umesh Sukhwani and Kapil Sharma.
Its last annual general meeting (AGM) was held on 29 August 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 ₹37.25 Cr, a growth of 2% compared to the previous year. For the same year it recorded a net profit of ₹11.26 Cr (net margin 30.2%) and EBITDA of ₹34.35 Cr (EBITDA margin 92.2%). Revenue has grown at a compounded annual rate (CAGR) of 2% over three years and 3% over five years.
The company has about 1 employee 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 ₹2,412 Cr and satisfied charges of ₹2,068.34 Cr on record. The company has 1 deal on record (1 acquisition); the latest was in March 2015. Its 10 peer companies in the Cleantech industry (Solar Power) are compared by revenue, 5 larger and 5 smaller; the largest is Clean Wind Power (Satara) Private Limited with revenue of ₹37.57 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.
- EmailLocked
- TelephoneLocked
- Website
- Social Media
- Registered AddressDsc – 304 Second Floor DLF South Court, Saket District Centre, New Delhi, Delhi, India – 110017
- 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
- One PDF report, delivered after checkout
Business Activity of Azure Power Makemake Private Limited
The main business activity of Azure Power Makemake 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 Azure Power Makemake Private Limited FY 2025 filings available
Azure Power Makemake Private Limited reported revenue of ₹37.25 Cr (up 2% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR) of Azure Power Makemake Private Limited
Revenue has grown at a compounded annual rate (CAGR) of 3% over five years, including 2% growth in the latest year. EBITDA rose 6% 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 Azure Power Makemake Private Limited
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 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 | ₹34.35 Cr | •••• | •••• | •••• | •••• |
| Profit Before Tax | •••• | •••• | •••• | •••• | •••• |
| Tax Expense | •••• | •••• | •••• | •••• | •••• |
| Net Profit (PAT) | ₹11.26 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 | •••• | •••• | •••• | •••• | •••• |
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| Trade Receivables | •••• | •••• | •••• | •••• | •••• |
| Cash and Bank Balance | •••• | •••• | •••• | •••• | •••• |
| Total Assets | •••• | •••• | •••• | •••• | •••• |
Financial Ratios of Azure Power Makemake Private Limited
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 92.2% | •••• | •••• | •••• | •••• |
| Net Profit Margin | 30.2% | •••• | •••• | •••• | •••• |
| 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 Azure Power Makemake are in the company report.
Financial statements from 2015
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.
Peer Comparison of Azure Power Makemake Private Limited
Azure Power Makemake Private Limited is compared with the companies closest to it by revenue in the Cleantech industry (Solar Power). Net profit, margin and employee counts of each company are in the company report.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Clean Wind Power (Satara) Private Limited | ₹37.57 Cr (FY 2025) | •••• | •••• | -7.0% | •••• | New Delhi, Delhi, India |
| Aditya Birla Renewables SPV 1 Limited | ₹37.49 Cr (FY 2025) | •••• | •••• | 1.0% | •••• | Mumbai, Maharashtra, India |
| Acme Solar Technologies (Gujarat) Private Limited | ₹37.4 Cr (FY 2025) | •••• | •••• | -2.0% | •••• | Gurgaon, Haryana, India |
| JBM Solar Power Maharashtra Private Limited | ₹37.32 Cr (FY 2024) | •••• | •••• | -2.0% | •••• | New Delhi, Delhi, India |
| Green Infra Solar Farms Private Limited | ₹37.3 Cr (FY 2025) | •••• | •••• | 0.0% | •••• | Gurgaon, Haryana, India |
| Azure Power Makemake Private Limited this company | ₹37.25 Cr (FY 2025) | •••• | •••• | 2.0% | •••• | New Delhi, Delhi, India |
| Greenergy Solar Enterprise Private Limited | ₹37.16 Cr (FY 2024) | •••• | •••• | -14.0% | •••• | Bengaluru, Karnataka, India |
| Siddhachal Fab Private Limited | ₹37.11 Cr (FY 2025) | •••• | •••• | 48.0% | •••• | Thane, Maharashtra, India |
| Clean Max Photovoltaic Private Limited | ₹37 Cr (FY 2025) | •••• | •••• | 0.0% | •••• | Mumbai, Maharashtra, India |
| Sei Suryashakti Power Private Limited | ₹36.82 Cr (FY 2025) | •••• | •••• | 1.0% | •••• | Hyderabad, Telangana, India |
| Azure Power Jupiter Private Limited | ₹36.78 Cr (FY 2025) | •••• | •••• | 0.0% | •••• | New Delhi, Delhi, India |
Peers are the five companies nearest above and the five nearest below Azure Power Makemake by revenue in the Cleantech industry (Solar Power), 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 Azure Power Makemake Private Limited
Azure Power Makemake Private Limited is audited by S.R. BATLIBOI & CO. LLP for the financial year 2021.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| S.R. BATLIBOI & 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.
Board of Directors of Azure Power Makemake Private Limited
Azure Power Makemake has 2 current directors and 14 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Kapil Sharma Also directs: Azure Urja Private Limited, Azure Power Rooftop (Genco.) Private Limited, Azure Power Infrastructure Private Limited and 5 more | Additional Director | 21 Jul 2025 | 1 Years 2 Months | Current |
| Umesh Sukhwani Also directs: Azure Urja Private Limited, Azure Surya Private Limited, Azure Sunrise Private Limited and 5 more | Director | 21 Jul 2025 | 1 Years 2 Months | Current |
Ownership and Shareholding of Azure Power Makemake 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 Azure Power Makemake Private Limited
| Date | Lender | Amount | Status |
|---|---|---|---|
| 22 Jan 2025 | Others | ₹2,412 Cr | Open |
| 18 Jun 2021 | Others | ₹1,188.44 Cr | Satisfied |
| 27 Dec 2019 | Others | ₹121.9 Cr | Satisfied |
| 20 Jun 2017 | Idbi Trusteeship Services Limited | ₹461 Cr | Satisfied |
| 29 Jun 2016 | Idbi Trusteeship Services Limited | ₹160 Cr | Satisfied |
Total charge records: 6 View all charges
Deals & Funding of Azure Power Makemake Private Limited
Azure Power Makemake Private Limited has 1 deal on record (1 acquisition); the latest was in March 2015.
Deals on record (1 of 1)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2015 | Acquisition | ₹76.25 Cr | Buyer: Azure Power India Private Limited |
Full deal history
All 1 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.
Associated Brands with Azure Power Makemake Private Limited
Azure Power Makemake 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 |
Employees and EPFO Compliance at Azure Power Makemake Private Limited
Azure Power Makemake Private Limited has a workforce of 1 employees as of Apr 01, 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 Azure Power Makemake Private Limited
Azure Power Makemake Private Limited has 15 board changes on record since 2016: 2 appointments and 13 cessations. The latest: Sachin Bali ceased to be Director on 22 Jul 2025.
20 earlier events are listed in the company report.
Credit Ratings, Litigation & Regulatory Alerts for Azure Power Makemake 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.
MSME Payment Delays by Azure Power Makemake Private Limited
MSME payment history
Amounts due to small suppliers, the reasons given and MSME-1 filings are in the company report.
- Outstanding amounts
- Delay periods and reasons
- MSME-1 filing history
- Vendor payment signals
Verified entity values are shown only after access is granted.
Subsidiaries & Group Companies of Azure Power Makemake 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 Azure Power Makemake Private Limited
Azure Power Makemake has 2 GST registrations: 1 active and 1 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 03AANCA1635R1ZD | Punjab | Active | 01 Jul 2017 |
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 Azure Power Makemake 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 Azure Power Makemake Private Limited
Frequently Asked Questions about Azure Power Makemake Private Limited
Azure Power Makemake 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 03 January 2015 (11+ years old) and is registered under CIN U40106DL2015PTC274954.
Azure Power Makemake reported revenue of ₹37.25 Cr for FY 2025 (up 2% YoY).
Azure Power Makemake has 2 current directors:
- Kapil Sharma - Additional Director
- Umesh Sukhwani - Director
Azure Power Makemake reported a net profit of ₹11.26 Cr (net margin 30.2%) and EBITDA of ₹34.35 Cr (EBITDA margin 92.2%) for FY 2025, as per its filed financial statements.
The compounded annual growth rate (CAGR) of the revenue of Azure Power Makemake is 2% over three years and 3% over five years. In the latest year (FY 2025) revenue rose 2%. CAGR is the steady yearly rate that links the first and the last year.
The GSTIN of Azure Power Makemake is 03AANCA1635R1ZD, registered in Punjab. 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 Makemake is U40106DL2015PTC274954. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Azure Power Makemake was incorporated on 03 January 2015, making it 11+ years old. It is registered with the Registrar of Companies, Delhi.
Azure Power Makemake has 1 deal on record (1 acquisition); the latest was in March 2015.
The peers of Azure Power Makemake by revenue are Clean Wind Power (Satara) Private Limited, Aditya Birla Renewables SPV 1 Limited, Acme Solar Technologies (Gujarat) Private Limited, JBM Solar Power Maharashtra Private Limited, Green Infra Solar Farms Private Limited and 5 more, all in the Cleantech industry (Solar Power).
Sachin Bali ceased to be Director on 22 Jul 2025. Kapil Sharma was appointed as Additional Director on 21 Jul 2025. Umesh Sukhwani was appointed as Director on 21 Jul 2025. Azure Power Makemake has 15 board changes on record in total.