India's Richest People 2026 edition · 1 director · Source: Hurun India
- #37 Sanjiv Goenka & family ₹68,800 Cr
Revenue · FY 2025
₹2,017.98 Cr
▲ 4% YoY
Net profit · FY 2025
₹313.27 Cr
Net margin 15.5%
EBITDA · FY 2025
₹596.77 Cr
EBITDA margin 29.6%
Authorised capital
₹3,000 Cr
Registered with MCA
Paid-up capital
₹2,242.77 Cr
Issued & subscribed
Open charges
₹4,781.12 Cr
Satisfied ₹5,768.86 Cr
Company age
20 yrs
Est. 2006
Employees · EPFO
158
Provident fund records
About Dhariwal Infrastructure Limited
Data last updated:
Dhariwal Infrastructure Limited is a public limited company based in Kolkata, West Bengal, India, a subsidiary of Cesc Ltd. It operates in the thermal power generation and plants segment of the energy and power sector. It was incorporated on 03 October 2006 and has been in existence for over 20 years.
Its director Sanjiv Goenka and family are #37 among India's richest people (2026).
The company is registered with the Registrar of Companies (ROC), Kolkata, under CIN U70109WB2006PLC111457. Its GSTIN is 19AACCD4743L1ZD (West Bengal). The company holds 2 GST registrations, all of them active.
The company has an authorised share capital of ₹3,000 Cr and a paid-up capital of ₹2,242.77 Cr. It was formerly known as Dhariwal Infrastructure Pvt Limited and Dhariwal Infrastructure Private Limited. It is led by directors including Soumen Barua (Whole-Time Director) and Devesh Kumar (Whole-Time Director).
Its last annual general meeting (AGM) was held on 18 August 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Cesc House Chowringhee Square, Kolkata, West Bengal, India – 700001.
As per the financials filed for FY 2025, the company reported a revenue of ₹2,017.98 Cr, a growth of 4% compared to the previous year. For the same year it recorded a net profit of ₹313.27 Cr (net margin 15.5%) and EBITDA of ₹596.77 Cr (EBITDA margin 29.6%). Revenue has grown at a compounded annual rate (CAGR) of 7% over three years and 9% over five years.
The company has about 158 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Dhariwal Infrastructure Limited. As per MCA filings, the company has open charges of ₹4,781.12 Cr and satisfied charges of ₹5,768.86 Cr on record. Court records list 32 cases involving the company, including 16 filed by the company and 16 filed against it; 10 cases are pending. The company has 15 deals on record (6 secondary share transfers, 4 funding rounds, 3 rights issues), with disclosed funding of ₹1,035.75 Cr; the latest was in March 2019. Its 8 peer companies in the Power industry (Thermal Power Plants), with the same principal business activity (electric power generation, transmission and distribution) are compared by revenue, 4 larger and 4 smaller; the largest is Maithon Power Limited with revenue of ₹2,963.64 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 dilenergy.co.in.
Company details
CIN U70109WB2006PLC111457
Registration Number 111457
Incorporation Date 03 October 2006
ROC Kolkata
Listing Status Unlisted
Company Status Active
Date of Last AGM 18 August 2025
Date of Balance Sheet 31 March 2025
Parent Company Cesc Ltd
Compliance Status Active Compliant
Name history
Dhariwal Infrastructure has undergone 2 name changes throughout its history. The company was previously known as Dhariwal Infrastructure Pvt Limited, and Dhariwal Infrastructure Private Limited. The current legal name is Dhariwal Infrastructure Limited.
| Company Name | Status |
|---|---|
| Dhariwal Infrastructure Limited | Current |
| Dhariwal Infrastructure Pvt Limited | Previous |
| Dhariwal Infrastructure Private Limited | Previous |
CIN history
Dhariwal Infrastructure has one previous CIN (Corporate Identification Number): U70109WB2006PTC111457. The current CIN is U70109WB2006PLC111457, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U70109WB2006PLC111457 | Current |
| U70109WB2006PTC111457 | Previous |
Recognitions & Rankings of Dhariwal Infrastructure
Contact details
Dhariwal Infrastructure Limited's registered office is in Kolkata, West Bengal. Its website is dilenergy.co.in. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered AddressCesc House Chowringhee Square, Kolkata, West Bengal, India – 700001
- IndustryEnergy and Power, Thermal Power Generation & Plants
To see the full contact details of Dhariwal Infrastructure Limited, buy the company report.
Comprehensive company report
Dhariwal Infrastructure Limited - one report that includes everything
- 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
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Brands
Dhariwal Infrastructure operates one associated brand: Dhariwal Infrastructure Limited. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Electricity generation and transmission services through coal-based thermal power in Maharashtra. | dilenergy.co.in |
Business activity
The main business activity of Dhariwal Infrastructure 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 Dhariwal Infrastructure Limited, buy the company report.
Financials of Dhariwal Infrastructure Limited
FY 2025 filings availableDhariwal Infrastructure Limited reported revenue of ₹2,017.98 Cr (up 4% YoY) for FY 2025.
Revenue · FY 2025
₹2,017.98 Cr ▲ 4%
Net profit · FY 2025
₹313.27 Cr margin 15.5%
EBITDA · FY 2025
₹596.77 Cr margin 29.6%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▲ 4%
3 years · compounded
▲ 7%
5 years · compounded
▲ 9%
EBITDA CAGR growth
1 year
▲ 4%
3 years · compounded
▲ 7%
5 years · compounded
▲ 7%
Revenue has grown at a compounded annual rate (CAGR) of 9% over five years, including 4% growth in the latest year. EBITDA rose 4% 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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| Total Expenses | |||||
| EBITDA | ₹596.77 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹313.27 Cr | ||||
| Balance Sheet | |||||
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| Reserves and Surplus | |||||
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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 | 29.6% | ||||
| Net Profit Margin | 15.5% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
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| Receivable Days | |||||
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| Inventory Days | |||||
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To see the full financial statements and ratios of Dhariwal Infrastructure Limited, buy the company report.
Board of directors of Dhariwal Infrastructure Limited
Dhariwal Infrastructure has 7 current directors and 26 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Sanjiv Goenka | Director | 23 Sep 2024 | 2 Years 1 Months | Current |
| Subrata Talukdar Also directs: Firstsource Solutions Limited, Crescent Power Limited, Kolkata Games and Sports Private Limited and 3 more | Director | 27 Aug 2009 | 17 Years 2 Months | Current |
| Brajesh Singh Also directs: Cesc Ltd, Haldia Energy Limited | Director | 19 Jun 2024 | 2 Years 4 Months | Current |
| Soumen Barua | Whole-Time Director | 01 Apr 2024 | 2 Years 7 Months | Current |
| Monika Srivastava Also directs: Purvah Green Power Private Limited, Pharmax Corporation Ltd, Boulevard Projects Private Limited and 2 more | Director | 18 Dec 2024 | 1 Years 10 Months | Current |
| Shashwat Goenka | Director | 23 Sep 2024 | 2 Years 1 Months | Current |
Showing 6 of 7 current directors. View all directors
Peer comparison
Dhariwal Infrastructure Limited is compared with the 8 companies closest to it by revenue in the Power industry (Thermal Power Plants), 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 |
|---|---|---|---|---|---|---|
| Maithon Power Limited | ₹2,963.64 Cr (FY 2025) | -12.0% | Mumbai, Maharashtra, India | |||
| JSW Energy (Barmer) Limited | ₹2,839.34 Cr (FY 2025) | -4.0% | Mumbai, Maharashtra, India | |||
| Meil Anpara Energy Limited | ₹2,673.46 Cr (FY 2025) | -9.0% | Lucknow, Uttar Pradesh, India | |||
| Haldia Energy Limited | ₹2,114.09 Cr (FY 2025) | 6.0% | Kolkata, West Bengal, India | |||
| Dhariwal Infrastructure Limitedthis company | ₹2,017.98 Cr (FY 2025) | ₹313.27 Cr | 15.5% | 4.0% | 158 | Kolkata, West Bengal, India |
| GMR Warora Energy Limited | ₹1,950.66 Cr (FY 2025) | 2.0% | Mumbai, Maharashtra, India | |||
| Sepc Power Private Limited | ₹1,907.49 Cr (FY 2025) | -6.0% | Chennai, Tamil Nadu, India | |||
| Opg Power Generation Private Limited | ₹1,789.52 Cr (FY 2025) | 4.0% | Gummidipoondi, Tamil Nadu, India | |||
| Adhunik Power & Natural Resources Limited | ₹1,756.23 Cr (FY 2025) | -1.0% | Kolkata, West Bengal, India |
To see the full peer comparison of Dhariwal Infrastructure Limited, buy the company report.
Auditor
Dhariwal Infrastructure Limited is audited by Kunal & Associates, Chartered Accountants for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| Kunal & Associates, Chartered Accountants | FY 2023 | 316003E |
Shareholding
The shareholding of Dhariwal Infrastructure Limited is on record for 5 financial years, the latest being FY 2023, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2023 | FY 2022 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Dhariwal Infrastructure Limited, buy the company report.
Charges & borrowings
Open charges
₹4,781.12 Cr
Satisfied charges
₹5,768.86 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 12 Dec 2025 | 101199880 | Others | ₹528 Cr | Open | |
| 12 Dec 2025 | 101198930 | Yes Bank Limited | ₹143.41 Cr | Open | |
| 06 May 2025 | 101093919 | Others | ₹200 Cr | Open | |
| 05 Feb 2025 | 101043818 | State Bank of India | ₹200 Cr | Open | |
| 25 Jul 2022 | 100599510 | Idbi Trusteeship Services Limited | ₹200 Cr | Open |
To see the full charge records of Dhariwal Infrastructure Limited, buy the company report.
Total charge records: 36 View all charges
Deals & funding
Dhariwal Infrastructure Limited has 15 deals on record (6 secondary share transfers, 4 funding rounds, 3 rights issues), with disclosed funding of ₹1,035.75 Cr; the latest was in March 2019.
Total deals
15
Secondary share transfers
6
Funding rounds
4
Rights issues
3
Acquisitions
2
Disclosed funding
₹1,035.75 Cr
Deals on record (5 of 15)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2019 | Rights issue | ₹160 Cr | Investors: Cesc Ltd |
| Mar 2018 | Secondary share transfer | Undisclosed | Buyer: CESE Limited & Rajarshi Banerjee, CESE Limited & Gautam Ray, CESE Limited & Subhasis Mitra Seller: Haldia Energy Limited & Vinod Kumar, Haldia Energy Limited , Haldia Energy Limited & Rajarshi Banerjee |
| Mar 2012 | Funding round | ₹306.75 Cr | Investors: Cesc Ltd |
| Jul 2010 | Acquisition | Undisclosed | Buyer: Haldia Energy Limited Seller: Cesc Ltd , Rasiklal Manikchand Dhariwal HUF |
| Apr 2010 | Secondary share transfer | Undisclosed | Buyer: Haldia Energy Limited Seller: an individual |
To see the full deal history of Dhariwal Infrastructure 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
Dhariwal Infrastructure Limited has 32 court cases on record: 16 filed by Dhariwal Infrastructure, 16 filed against it. 10 cases are pending and 22 are disposed.
Total cases
32
Filed by the company
16
Filed against the company
16
Pending
10
Disposed
22
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 15 | 8 | 4 |
| High courts | 13 | 4 | 4 |
| Supreme Court | 4 | 4 | 2 |
Cases on record (5 of 32)
| Court | Type of case | Party | Status |
|---|---|---|---|
| Supreme Court | Court case (1901-Energy Laws - Electricity, Petroleum, Oil and Natural Gas : Energy laws - Electricity, Petroleum, Oil and Natural Gas) | Filed against the company by Aryan Renewable Energy Private Pvt. Ltd | Pending |
| Supreme Court | Court case (1901-Energy Laws - Electricity, Petroleum, Oil and Natural Gas : Energy laws - Electricity, Petroleum, Oil and Natural Gas) | Filed against the company by Vedanta Limited (Now Known As Vedanta Aluminium Metal Limited) | Pending |
| Supreme Court | Court case (1010-Company Law, Mrtp, Trai, Sebi, Idrai & Rbi : Matters pertaining to TRAI / SEBI / IDRAI and RBI including Appeals U/S 18 of TRAI Act, Indian Electricity Act, 1910 and 2003, Electricity Supply Act, 1948 and Electricity Reforms Commission Act, 1998) | Filed against the company by Maharashtra State Electricity Distribution Company Limited Chief Engineer Commercial 5Th Floor, Prakashgadh, Plot No. G-9, Anant Kanekar Marg, Bandra (East) ,Mumbai , Maharashtra | Disposed |
| High Court | Writ petition | Filed by the company against Coal India Limited and 2 others | Disposed |
| Bombay High Court | Court case (S) | Filed by the company against Reliance Infrastructure Ltd. | Disposed |
To see the full case history of Dhariwal Infrastructure 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
Dhariwal Infrastructure Limited was last rated by Care on 07 Oct 2021.
| Rating agency | Rated on | Rating |
|---|---|---|
| Care | 07 Oct 2021 |
To see the full credit ratings and regulatory alerts of Dhariwal Infrastructure Limited, buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Dhariwal Infrastructure Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Employees & EPFO
Dhariwal Infrastructure Limited has a workforce of 158 employees on its EPFO records as of Mar 30, 2024, across 1 active EPFO establishment.
Employee count
158
Active EPFO establishments
1
Employee growth
0.64%
GST
Dhariwal Infrastructure has 2 GST registrations: 2 active.
Total GSTINs
2
Active
2
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 19AACCD4743L1ZD | West Bengal | Active | 01 Jul 2017 |
| 27AACCD4743L1ZG | Maharashtra | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Dhariwal Infrastructure Limited, buy the company report.
Recent activity
Dhariwal Infrastructure Limited has 32 board changes on record since 2009: 7 appointments and 25 cessations. The latest: Monika Srivastava ceased to be Additional Director on 17 Aug 2025.
Charges
A charge registered on 26 Dec 2024 via Charge ID 101027259 with Others was fully satisfied on 15 Dec 2025.
Charges
A charge with Others amounted to Rs. 528.00 Cr with Charge ID 101199880 was registered on 12 Dec 2025.
Charges
A charge with Yes Bank Limited amounted to Rs. 143.41 Cr with Charge ID 101198930 was registered on 12 Dec 2025.
AGM
Dhariwal Infrastructure Limited last Annual general meeting of members was held on 18 Aug 2025 as per latest MCA records.
Ceased
Monika Srivastava ceased to be Additional Director.
Ceased
Sanjiv Goenka ceased to be Additional Director.
Ceased
Shashwat Goenka ceased to be Additional Director.
Charges
A charge with Others amounted to Rs. 200.00 Cr with Charge ID 101093919 was registered on 06 May 2025.
Appointed
Devesh Kumar was appointed as Whole-Time Director.
Filing
Dhariwal Infrastructure Limited has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Kolkata.
Ceased
Soumen Barua ceased to be Whole-Time Director.
Charges
A charge with State Bank Of India amounted to Rs. 200.00 Cr with Charge ID 101043818 was registered on 05 Feb 2025.
89 earlier events are in the company report.
News
Frequently asked questions
Dhariwal Infrastructure is an active public limited company based in Kolkata, West Bengal, India. The company works in thermal power generation and plants, within the energy and power industry. It was incorporated on 03 October 2006 (20+ years old) and is registered under CIN U70109WB2006PLC111457.
Dhariwal Infrastructure has 7 current directors:
- Soumen Barua - Whole-Time Director
- Devesh Kumar - Whole-Time Director
- Sanjiv Goenka - Director
- Subrata Talukdar - Director
- Brajesh Singh - Director
- Monika Srivastava - Director
- Shashwat Goenka - Director
The latest financial statements of Dhariwal Infrastructure on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 18 August 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Dhariwal Infrastructure is 19AACCD4743L1ZD, registered in West Bengal. The company has 2 GST registrations in all, of which 2 are active. Other active GSTINs include 27AACCD4743L1ZG (Maharashtra).
The CIN (Corporate Identification Number) of Dhariwal Infrastructure is U70109WB2006PLC111457. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Dhariwal Infrastructure has 32 court cases on record: 16 filed by the company and 16 filed against it. 10 are pending. Most are in the district courts.
Dhariwal Infrastructure was incorporated on 03 October 2006, making it 20+ years old. It is registered with the Registrar of Companies, Kolkata.
Dhariwal Infrastructure has 15 deals on record (6 secondary share transfers, 4 funding rounds, 3 rights issues), with disclosed funding of ₹1,035.75 Cr; the latest was in March 2019.
The peers of Dhariwal Infrastructure by revenue are Maithon Power Limited, JSW Energy (Barmer) Limited, Meil Anpara Energy Limited, Haldia Energy Limited, GMR Warora Energy Limited and 3 more, all in the Power industry (Thermal Power Plants), with the same principal business activity (electric power generation, transmission and distribution).
Monika Srivastava ceased to be Additional Director on 17 Aug 2025. Sanjiv Goenka ceased to be Additional Director on 17 Aug 2025. Shashwat Goenka ceased to be Additional Director on 17 Aug 2025. Dhariwal Infrastructure has 32 board changes on record in total.
Dhariwal Infrastructure can be reached through the website dilenergy.co.in. Its registered office is in Kolkata, West Bengal, India.
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