About Azure Power Maple Private Limited
Data last updated:
Azure Power Maple 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 06 October 2017 and has been in existence for over 9 years.
The company is registered with the Registrar of Companies (ROC), Delhi, under CIN U40106DL2017PTC324594.
The company has an authorised share capital of ₹2.8 Cr and a paid-up capital of ₹2.76 Cr. It is led by directors Kapil 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 ₹164.59 Cr, a growth of 5% compared to the previous year. For the same year it recorded a net loss of ₹40.73 Cr (net margin -24.7%) and EBITDA of ₹119.16 Cr (EBITDA margin 72.4%). Revenue has grown at a compounded annual rate (CAGR) of 206% over three years.
The company is associated with 1 brand: Azure Power. As per MCA filings, the company has open charges of ₹1,303 Cr and satisfied charges of ₹3,264.75 Cr on record. The company has 4 deals on record (4 acquisitions); the latest was in August 2021. Its 10 peer companies in the Cleantech industry (Solar Power) are compared by revenue, 5 larger and 5 smaller; the largest is Masaya Solar Energy Private Limited with revenue of ₹167.68 Cr. The company has 17 MSME Form 1 returns on record between 2021 and 2024, listing 172 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.
- EmailLocked
- TelephoneLocked
- Website
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- 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 Maple Private Limited
The main business activity of Azure Power Maple 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 Maple Private Limited FY 2025 filings available
Azure Power Maple Private Limited reported revenue of ₹164.59 Cr (up 5% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR) of Azure Power Maple Private Limited
Revenue has grown at a compounded annual rate (CAGR) of 206% over three years, including 5% growth in the latest year. EBITDA rose 15% 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 Maple 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 | ₹119.16 Cr | •••• | •••• | •••• | •••• |
| Profit Before Tax | •••• | •••• | •••• | •••• | •••• |
| Tax Expense | •••• | •••• | •••• | •••• | •••• |
| Net Profit (PAT) | -₹40.73 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 Azure Power Maple Private Limited
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 72.4% | •••• | •••• | •••• | •••• |
| Net Profit Margin | -24.7% | •••• | •••• | •••• | •••• |
| 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 Maple are in the company report.
Financial statements from FY 2018
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 Maple Private Limited
Azure Power Maple 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 |
|---|---|---|---|---|---|---|
| Masaya Solar Energy Private Limited | ₹167.68 Cr (FY 2025) | •••• | •••• | 123.0% | •••• | Gurgaon, Haryana, India |
| MBH Power Private Limited | ₹167.46 Cr (FY 2025) | •••• | •••• | 140.0% | •••• | Vadodara, Gujarat, India |
| Solairepro Urja Private Limited | ₹166.51 Cr (FY 2025) | •••• | •••• | -4.0% | •••• | Mumbai, Maharashtra, India |
| Neutron Sunray Private Limited | ₹165.19 Cr (FY 2024) | •••• | •••• | -1.0% | •••• | New Delhi, Delhi, India |
| Renew Akshay Urja Limited | ₹165 Cr (FY 2025) | •••• | •••• | -11.0% | •••• | New Delhi, Delhi, India |
| Azure Power Maple Private Limited this company | ₹164.59 Cr (FY 2025) | •••• | •••• | 5.0% | •••• | New Delhi, Delhi, India |
| Remi Elektrotechnik Limited Listed | ₹162.37 Cr (FY 2025) | •••• | •••• | -10.0% | •••• | Mumbai, Maharashtra, India |
| Four Square Green Energy Private Limited | ₹162.16 Cr (FY 2025) | •••• | •••• | 230.0% | •••• | Rajkot, Gujarat, India |
| Kiran Energy Solar Power Private Limited | ₹161.22 Cr (FY 2019) | •••• | •••• | -4.0% | •••• | Mumbai, Maharashtra, India |
| Ayana Ananthapuramu Solar Private Limited | ₹159.71 Cr (FY 2024) | •••• | •••• | -27.0% | •••• | Bangalore, Karnataka, India |
| Hiten Fasteners Private Limited | ₹159.46 Cr (FY 2025) | •••• | •••• | -13.0% | •••• | Bangalore, Karnataka, India |
Peers are the five companies nearest above and the five nearest below Azure Power Maple 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 Maple Private Limited
Azure Power Maple Private Limited is audited by ASA & Associates LLP for the financial year 2024.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| ASA & Associates 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 Maple Private Limited
Azure Power Maple 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 |
|---|---|---|---|---|
| Kapil Sharma Also directs: Azure Urja Private Limited, Azure Power Rooftop (Genco.) Private Limited, Azure Power Infrastructure Private Limited and 5 more | Director | 22 Feb 2023 | 3 Years 7 Months | Current |
| Kunal Jindal | Director | 21 Jul 2025 | 1 Years 2 Months | Current |
Ownership and Shareholding of Azure Power Maple 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 Maple Private Limited
| Date | Lender | Amount | Status |
|---|---|---|---|
| 23 Jul 2024 | Others | ₹1,303 Cr | Open |
| 04 Nov 2025 | The Hongkong and Shanghai Banking Corporation Limited | ₹25 Cr | Satisfied |
| 26 Oct 2021 | Axis Bank Limited | ₹300 Cr | Satisfied |
| 12 Oct 2021 | Sbicap Trustee Company Limited | ₹1,325.5 Cr | Satisfied |
| 29 Sep 2021 | Others | ₹227.25 Cr | Satisfied |
Total charge records: 8 View all charges
Deals & Funding of Azure Power Maple Private Limited
Azure Power Maple Private Limited has 4 deals on record (4 acquisitions); the latest was in August 2021.
Deals on record (4 of 4)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Aug 2021 | Acquisition | ₹165.62 Cr | Buyer: Azure Power India Private Limited |
| Jun 2020 | Acquisition | ₹50 Cr | Buyer: Azure Power India Private Limited |
| Aug 2019 | Acquisition | ₹4 Cr | Buyer: Azure Power India Private Limited |
| Dec 2018 | Acquisition | ₹4 Lakh | Buyer: Azure Power India Private Limited |
Full deal history
All 4 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.
MSME Payment Delays by Azure Power Maple Private Limited
Azure Power Maple Private Limited has 17 MSME Form 1 returns on record between 2021 and 2024, listing 172 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 |
|---|---|---|---|
| SM Mentech Services | •••• | •••• | •••• |
| Wise Travel India Limited | •••• | •••• | •••• |
| Ujagir Engineering Private Limited | •••• | •••• | •••• |
| Integrated Wireless Solutions Private Limited | •••• | •••• | •••• |
| Hach Ott India Private Limited | •••• | •••• | •••• |
Full MSME payment history
Every supplier, amount and due date from all 17 MSME Form 1 returns is in the company report.
- Every reported supplier due
- Amounts and due dates
- Reasons given in each return
- Period-by-period history
Verified entity values are shown only after access is granted.
Individuals and sole proprietors among the suppliers are not named. Amounts, due dates and filing dates are in the company report.
Associated Brands with Azure Power Maple Private Limited
Azure Power Maple 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 Maple Private Limited
Employment history and EPFO contributions of people linked to Azure Power Maple.
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 Maple Private Limited
Azure Power Maple Private Limited has 9 board changes on record since 2018: 2 appointments and 7 cessations. The latest: Kunal Jindal was appointed as Director on 21 Jul 2025.
18 earlier events are listed in the company report.
Credit Ratings, Litigation & Regulatory Alerts for Azure Power Maple 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.
Subsidiaries & Group Companies of Azure Power Maple 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 Maple Private Limited
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 Maple 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 Maple Private Limited
Frequently Asked Questions about Azure Power Maple Private Limited
Azure Power Maple 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 06 October 2017 (9+ years old) and is registered under CIN U40106DL2017PTC324594.
Azure Power Maple reported revenue of ₹164.59 Cr for FY 2025 (up 5% YoY).
Azure Power Maple has 2 current directors:
- Kapil Sharma - Director
- Kunal Jindal - Director
Azure Power Maple reported a net loss of ₹40.73 Cr (net margin -24.7%) and EBITDA of ₹119.16 Cr (EBITDA margin 72.4%) for FY 2025, as per its filed financial statements.
The compounded annual growth rate (CAGR) of the revenue of Azure Power Maple is 206% over three years. In the latest year (FY 2025) revenue rose 5%. CAGR is the steady yearly rate that links the first and the last year.
The CIN (Corporate Identification Number) of Azure Power Maple is U40106DL2017PTC324594. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Azure Power Maple was incorporated on 06 October 2017, making it 9+ years old. It is registered with the Registrar of Companies, Delhi.
Azure Power Maple has 4 deals on record (4 acquisitions); the latest was in August 2021.
The peers of Azure Power Maple by revenue are Masaya Solar Energy Private Limited, MBH Power Private Limited, Solairepro Urja Private Limited, Neutron Sunray Private Limited, Renew Akshay Urja Limited and 5 more, all in the Cleantech industry (Solar Power).
Kunal Jindal was appointed as Director on 21 Jul 2025. Manoj Kumar Sharma ceased to be Additional Director on 19 Sep 2024. Vani Sundaram ceased to be Additional Director on 11 Feb 2024. Azure Power Maple has 9 board changes on record in total.
Azure Power Maple has 17 MSME Form 1 returns on record between 2021 and 2024, listing 172 overdue payments to 38 micro and small suppliers. The latest return was filed on 30 Apr 2024.
Azure Power Maple can be reached through the website azurepower.com. Its registered office is in New Delhi, Delhi, India.