About Novel Power
Novel Power is an Energy & Utilities company based in Hoshiarpur (India) founded in 2018. It provides comprehensive solar installation services and products for sustainable energy solutions. It operates on a B2B model. Its Indian entity Novel Power Private Limited reported revenue of ₹85.8 Lakh. Its focus areas include Energy, Renewable Energy, Solar Energy and Solar Installation. Its competitors include SolarSquare, ZunRoof, Oorjan, Visa Powertech and Becquer Energy; 3 of its 5 listed competitors have raised funding.
Company details
Novel Power provides comprehensive solar installation services and products for sustainable energy solutions, focusing on working in the energy sector, promoting renewable energy, developing solar energy systems, and solar installation. It serves clients with dedicated solutions, emphasizing quality, innovation, and sustainable growth in its core markets.
- Headquarters Hoshiarpur, India
- SectorsEnergy & Utilities
- Email••••••••
- Phone•••• ••••
- Website novelpower.in
- Legal Name Novel Power Private Limited
- Date of Incorporation 26 Apr, 2018
- Jurisdiction Hoshiarpur, Punjab, India
- Annual Revenue₹85.8 Lakh
FY 2024 · +132% YoY
- Net Profit₹1.2 Lakh
FY 2024 · 1% margin
- EBITDA₹2.1 Lakh
FY 2024 · 2% margin
Associated legal entities of Novel Power
Novel Power operates through Novel Power Private Limited (active). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2024) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Novel Power Private Limited CIN U40106PB2018PTC047832 | Active | 26 Apr 2018 | Hoshiarpur, Punjab | ₹0.9 Cr | – | 2 | View details |
Board of directors of Novel Power Private Limited (Novel Power)
Novel Power Private Limited is the primary company behind Novel Power. The board of Novel Power Private Limited currently have 2 directors; the longest-serving is Barinder Singh, appointed in 2018.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Barinder Singh DIN 08121041 | Director | 26 Apr 2018 | 8 yrs 5 mo | Novel Power Private Limited |
| Santosh Singh DIN 08121042 | Director | 26 Apr 2018 | 8 yrs 5 mo | Novel Power Private Limited |
Financials of Novel Power
Figures of Novel Power Private Limited, the primary company behind Novel Power, for FY 2024. Revenue was ₹85.8 Lakh (+132% year on year). Net profit was ₹1.2 Lakh (1% margin). EBITDA was ₹2.1 Lakh (2% margin). Revenue has grown at a compounded annual rate of +15% over three years and +66% over five years.
- ₹85.8 LakhRevenue · FY 2024 · +132% YoY
- ₹1.2 LakhNet profit · 1% margin
- ₹2.1 LakhEBITDA · 2% margin
- ₹1 LakhPaid-up capital
- +15%Revenue CAGR, 3 years
- +66%Revenue CAGR, 5 years
Balance sheet, profit and loss, cash flow and ratios of Novel Power Private Limited are on its company page.
Detailed financial statements for Novel Power
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Competitors of Novel Power
Novel Power has 5 listed competitors in our database, 3 of them funded. They include SolarSquare, ZunRoof, Oorjan, Visa Powertech and Becquer Energy, among others.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| solarsquare.in | 2015 | Mumbai, India | $61.07M | 1,463 | Provider of solar panel installation services | |
| zunroof.com | 2016 | Gurugram, India | $17.97M | 73 | Provider of solar panel installation and O&M services | |
| oorjan.com | 2014 | Mumbai, India | $655,037 | 85 | Solar project financing and development | |
| visapowertech.com | 1993 | Navi Mumbai, India | – | – | Offers solar systems, battery storage, and EV charging for renewable energy. | |
| becquer.co | 2016 | Mumbai, India | – | – | Offers solar hardware, installations, and energy solutions for commercial and educational sectors. |
Detailed competitors of Novel Power
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- Full competitor set
- Operating metrics
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Top companies in Renewable & Sustainable Energy
10 companies that operate in the same segment as Novel Power (Renewable & Sustainable Energy), ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Utility bill management platform is provided for tracking and billing. | 2015 | London, England, United Kingdom | USD 2.81 B | USD 17.62 K | 5,752 | |
Utility-scale renewable energy projects are developed by Enel X. | 2001 | Boston, Massachusetts, United States | USD 168 M | – | – | |
Hybrid renewable energy solutions are provided for rural communities. | 2008 | Patna, Bihar, India | USD 73.99 M | USD 3.46 M | 294 | |
Solar energy projects are developed and operated by Lightsource BP. | 2010 | London, England, United Kingdom | USD 417.9 M | – | – | |
Solar energy solutions and financing are provided for off-grid communities. | 2004 | Nairobi, Kenya | USD 118.02 M | USD 26.54 M | 103 | |
Solar energy projects are developed for commercial and industrial clients. | 2011 | Mumbai, Maharashtra, India | USD 442.67 M | USD 166.51 M | 365 | |
Sustainable infrastructure solutions in renewable energy are developed and managed. | 1931 | Alcobendas, Comunidad De Madrid, Spain | – | USD 1.9 M | 44 | |
Manufacturer of solar PV modules | 1990 | Mumbai, Maharashtra, India | USD 111.38 M | USD 2.77 B | 8,690 | |
Sustainable energy solutions are developed and operated worldwide. | 2000 | Chicago, Illinois, United States | USD 575 M | – | 1,276 | |
Solar energy services are provided to residential customers nationwide. | 2007 | San Francisco, California, United States | USD 296.98 M | USD 2.96 B | 11,060 |
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Frequently Asked Questions about Novel Power
Novel Power was founded in 2018.
Novel Power is headquartered in Hoshiarpur, India. It is registered at Hoshiarpur, Punjab, India.
The primary company behind Novel Power, Novel Power Private Limited, reported revenue of ₹85.8 Lakh for FY 2024, up 132% year on year.
Novel Power provides comprehensive solar installation services and products for sustainable energy solutions, focusing on working in the energy sector, promoting renewable energy, developing solar energy systems, and solar installation. It serves clients with dedicated solutions, emphasizing quality, innovation, and sustainable growth in its core markets.
Novel Power's top competitors include SolarSquare, Oorjan and ZunRoof.
Novel Power operates through Novel Power Private Limited.
The legal entities of Novel Power currently have 2 directors, including Barinder Singh, Santosh Singh.