Cse Development (India) Private Limited
About Cse Development (India) Private Limited
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Cse Development (India) Private Limited is a private limited company based in Mumbai, Maharashtra, India, a subsidiary of Cleantech Solar Development Company Pte. Ltd.. It operates in the power epc segment of the energy and power sector. It was incorporated on 19 January 2015 and has been in existence for over 11 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U40100MH2015PTC261127. Its GSTIN is 27AAFCC9089F1ZA (Maharashtra). The company holds 7 GST registrations, all of them active.
The company has an authorised share capital of ₹6.5 Cr and a paid-up capital of ₹6.31 Cr. It was formerly known as Cleantech Fuel Energy (India) Private Limited. It is led by directors Vikash Agarwal (Whole-Time Director) and Sanjay Kumar Gupta (Whole-Time Director).
Its last annual general meeting (AGM) was held on 15 November 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Mumbai, Maharashtra.
As per the financials filed for FY 2025, the company reported a revenue of ₹552.47 Cr, a decline of 4% compared to the previous year. For the same year it recorded a net loss of ₹84.74 Cr (net margin -15.3%) and EBITDA of -₹34.37 Cr (EBITDA margin -6.2%).
The company has about 116 employees on its provident fund (EPFO) records. Its group structure includes 11 subsidiaries.
The company is associated with 1 brand: Cleantech Solar. As per MCA filings, the company has open charges of ₹420 Cr and satisfied charges of ₹120 Cr on record. Court records list 7 cases involving the company, including 6 filed by the company and 1 filed against it; 5 cases are pending. The company has 8 deals on record (5 secondary share transfers, 2 convertible or debt financings, 1 debt financing), with disclosed funding of ₹383.9 Cr; the latest was in April 2022. Its 5 peer companies in the Infrastructure industry (Power Projects), with the same principal business activity (electric power generation, transmission and distribution) are compared by revenue, 1 larger and 4 smaller; the largest is Matrix Gas and Renewables Limited with revenue of ₹614.34 Cr. The company has 13 MSME Form 1 returns on record between 2019 and 2024, listing 80 overdue payments to 26 micro and small suppliers.
The current compliance status is marked as compliant by the Registrar of Companies.
Company details
CIN history
Cse Development (India) has one previous CIN (Corporate Identification Number): U74999MH2015PTC261127. The current CIN is U40100MH2015PTC261127, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U40100MH2015PTC261127 | Current |
| U74999MH2015PTC261127 | Previous |
Contact details
Cse Development (India) Private Limited's registered office is in Mumbai, Maharashtra. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Registered Address105 1st Flr E Wing Corporate Avenue, A K Link Rd Chakala Andheri E, Mumbai, Maharashtra, India – 400099
- IndustryEnergy and Power, Power EPC, BoP & BTG Services
To see the full contact details of Cse Development (India) 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
Cse Development (India) operates one associated brand: Cleantech Solar. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Provider of solar power producer on distributed scale | cleantechsolar.com |
Business activity
The main business activity of Cse Development (India) 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 Cse Development (India) Private Limited, buy the company report.
Financials of Cse Development (India) Private Limited
FY 2025 filings availableCse Development (India) Private Limited reported revenue of ₹552.47 Cr (down 4% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue fell 4% in the latest 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 | -₹34.37 Cr | ||||
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| Net Profit (PAT) | -₹84.74 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 | -6.2% | ||||
| Net Profit Margin | -15.3% | ||||
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To see the full financial statements and ratios of Cse Development (India) Private Limited, buy the company report.
Board of directors of Cse Development (India) Private Limited
Cse Development (India) 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 |
|---|---|---|---|---|
| Vikash Agarwal Also directs: Anaveel Renewables Private Limited, Balang Renewables Private Limited, Putrim Renewables Private Limited and 5 more | Whole-Time Director | 14 Jun 2023 | 3 Years 4 Months | Current |
| Sanjay Kumar Gupta Also directs: Cleantech Solar Energy (India) Private Limited | Whole-Time Director | 24 Feb 2025 | 1 Years 8 Months | Current |
Peer comparison
Cse Development (India) Private Limited is compared with the 5 companies closest to it by revenue in the Infrastructure industry (Power Projects), 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 |
|---|---|---|---|---|---|---|
| Matrix Gas and Renewables Limited | ₹614.34 Cr (FY 2024) | 25.0% | Ahmedabad, Gujarat, India | |||
| Cse Development (India) Private Limitedthis company | ₹552.47 Cr (FY 2025) | -₹84.74 Cr | -15.3% | -4.0% | 116 | Mumbai, Maharashtra, India |
| Sixvents Power & Engineering Limited | ₹541.31 Cr (FY 2017) | 1737.0% | Ahmedabad, Gujarat, India | |||
| Fatehgarh III Beawar Transmission Limited | ₹509.61 Cr (FY 2024) | Haryana, India | ||||
| Choudhary Power Projects Private Limited | ₹506.18 Cr (FY 2024) | -23.0% | Jammu, Jammu and Kashmir, India | |||
| Fatehgarh III Transmission Limited | ₹436.73 Cr (FY 2025) | 1262.0% | New Delhi, Delhi, India |
To see the full peer comparison of Cse Development (India) Private Limited, buy the company report.
Auditor
Cse Development (India) Private Limited is audited by S.R. Batliboi & Associates LLP for the financial year 2022.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| S.R. Batliboi & Associates LLP | FY 2022 | 101049W/E300004 |
Shareholding
The shareholding of Cse Development (India) Private Limited is on record for 5 financial years, the latest being FY 2021, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Cse Development (India) Private Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 29 Mar 2025 | 101070611 | Others | ₹155 Cr | Open | |
| 13 Feb 2025 | 101132412 | Others | ₹65 Cr | Open | |
| 25 Sep 2024 | 100985750 | Others | ₹200 Cr | Open | |
| 05 Jun 2024 | 100929906 | Others | ₹45 Cr | Satisfied | |
| 16 Feb 2024 | 100873729 | Others | ₹75 Cr | Satisfied |
To see the full charge records of Cse Development (India) Private Limited, buy the company report.
Total charge records: 5 View all charges
Deals & funding
Cse Development (India) Private Limited has 8 deals on record (5 secondary share transfers, 2 convertible or debt financings, 1 debt financing), with disclosed funding of ₹383.9 Cr; the latest was in April 2022.
Deals on record (5 of 8)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Apr 2022 | Debt financing | ₹321.3 Cr | Investors: Cleantech Solar Development Company Pte Limited |
| Feb 2021 | Secondary share transfer | Undisclosed | Buyer: Cleantech Solar Development Company Pte Limited Seller: Cleantech Energy Corporation Pte Limited |
| Jan 2019 | Secondary share transfer | Undisclosed | Buyer: Cleantech Solar Development Company Pte Limited Seller: Cleantech Energy Corporation Pte Limited |
| Mar 2018 | Secondary share transfer | Undisclosed | Buyer: Cleantech Energy Corporation Pte Limited Seller: an individual |
| Jul 2017 | Secondary share transfer | Undisclosed | Buyer: Cleantech Energy Corporation Pte Limited Seller: 2 individuals |
To see the full deal history of Cse Development (India) 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
Cse Development (India) Private Limited has 7 court cases on record: 6 filed by Cse Development (India), 1 filed against it. 5 cases are pending and 2 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 6 | 1 | 4 |
| District courts | 1 | 0 | 1 |
Cases on record (5 of 7)
| Court | Type of case | Party | Status |
|---|---|---|---|
| Madras High Court | Interim or miscellaneous application | Filed against the company by Eurus Helios Energy Infra Private Limited and 1 other | Pending |
| Madras High Court | Writ petition | Filed by the company against Tamil Nadu Green Energy Corporation Limited and 10 others | Pending |
| Madras High Court | Interim or miscellaneous application | Filed by the company against Tamil Nadu Green Energy Corporation Limited and 10 others | Pending |
| Madras High Court | Interim or miscellaneous application | Filed by the company against Tamil Nadu Green Energy Corporation Limited and 10 others | Disposed |
| High Court, MAHARASHTRA | Writ petition | Filed by the company against Maharashtra State Electricity Transmission Company Limited and 2 others | Disposed |
To see the full case history of Cse Development (India) 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.
MSME payment delays
Cse Development (India) Private Limited has 13 MSME Form 1 returns on record between 2019 and 2024, listing 80 overdue payments to 26 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 26)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Mahindra Teqo Private Limited | |||
| Skyfri Energy Private Limited | |||
| Alpha Engineers | |||
| Param Renewable Energy Private Limited | |||
| Impulse Logistics Private Limited |
To see the full MSME payment records of Cse Development (India) Private Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Group structure & subsidiaries
Cse Development (India) has 11 subsidiary companies. This group structure data is as of FY 2021. The table lists each entity with its relationship and holding.
| Company Name | CIN | Shares held |
|---|---|---|
| Arunodaya Techsolar Power Projects Private Limited | U40106MH2013PTC390902 | |
| Cse Solar Projects (Rajasthan) Private Limited | U40106MH2017PTC297568 | |
| Sunsole Solar Private Limited | U40106MH2020PTC337618 | |
| Strongsun Solar Private Limited | U40106MH2020PTC342125 | |
| Zonrenew Solar Private Limited | U40106MH2021PTC356703 | |
| Fairsun Renewables Private Limited | U40107MH2020PTC342130 |
To see the full group structure of Cse Development (India) Private Limited, buy the company report.
Employees & EPFO
Cse Development (India) Private Limited has a workforce of 116 employees on its EPFO records as of Apr 10, 2024, across 1 active EPFO establishment.
GST
Cse Development (India) has 7 GST registrations: 7 active. The first 4 active GSTINs are listed below.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAFCC9089F1ZA | Maharashtra | Active | 01 Jul 2017 |
| 36AAFCC9089F1ZB | Telangana | Active | 19 Jan 2018 |
| 37AAFCC9089F1Z9 | Andhra Pradesh | Active | 01 Mar 2019 |
| 33AAFCC9089F1ZH | Tamil Nadu | Active | 05 Mar 2019 |
To see the full GST registrations and return filing status of Cse Development (India) Private Limited, buy the company report.
Recent activity
Cse Development (India) Private Limited has 9 board changes on record since 2017: 2 appointments and 7 cessations. The latest: Sanjay Kumar Gupta ceased to be Additional Director on 30 Mar 2025.
8 earlier events are in the company report.
Frequently asked questions
Cse Development (India) is an active private limited company based in Mumbai, Maharashtra, India. The company works in power epc, within the energy and power industry. It was incorporated on 19 January 2015 (11+ years old) and is registered under CIN U40100MH2015PTC261127.
Cse Development (India) has 2 current directors:
- Vikash Agarwal - Whole-Time Director
- Sanjay Kumar Gupta - Whole-Time Director
The latest financial statements of Cse Development (India) on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 15 November 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Cse Development (India) is 27AAFCC9089F1ZA, registered in Maharashtra. The company has 7 GST registrations in all, of which 7 are active. Other active GSTINs include 36AAFCC9089F1ZB (Telangana), 37AAFCC9089F1Z9 (Andhra Pradesh), 33AAFCC9089F1ZH (Tamil Nadu).
The CIN (Corporate Identification Number) of Cse Development (India) is U40100MH2015PTC261127. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Cse Development (India) has 7 court cases on record: 6 filed by the company and 1 filed against it. 5 are pending. Most are in the high courts.
Cse Development (India) was incorporated on 19 January 2015, making it 11+ years old. It is registered with the Registrar of Companies, Mumbai.
Cse Development (India) has 8 deals on record (5 secondary share transfers, 2 convertible or debt financings, 1 debt financing), with disclosed funding of ₹383.9 Cr; the latest was in April 2022.
The peers of Cse Development (India) by revenue are Matrix Gas and Renewables Limited, Sixvents Power & Engineering Limited, Fatehgarh III Beawar Transmission Limited, Choudhary Power Projects Private Limited, Fatehgarh III Transmission Limited, all in the Infrastructure industry (Power Projects), with the same principal business activity (electric power generation, transmission and distribution).
Sanjay Kumar Gupta ceased to be Additional Director on 30 Mar 2025. Sanjay Kumar Gupta was appointed as Whole-Time Director on 24 Feb 2025. Prashant Dhanraj Kothari ceased to be Director on 19 Jul 2023. Cse Development (India) has 9 board changes on record in total.
Cse Development (India) has 13 MSME Form 1 returns on record between 2019 and 2024, listing 80 overdue payments to 26 micro and small suppliers. The latest return was filed on 30 Apr 2024.
The registered office of Cse Development (India) is at 105 1st Flr E Wing Corporate Avenue, A K Link Rd Chakala Andheri E, Mumbai, Maharashtra, India – 400099.