MSME (Udyam registered) Ministry of MSME
- Category
- Medium (2024-25)
- Udyam number
- UDYAM-MH-18-0045703
Evolute Cleantech Solutions Private Limited - information technology in Mumbai, Maharashtra, India. FY 2026 financials & compliance.
Revenue · FY 2024
₹46.07 Cr
▼ 13% YoY
Net profit · FY 2024
₹4.93 Lakh
Net margin 0.1%
EBITDA · FY 2024
₹1.18 Cr
EBITDA margin 2.6%
Authorised capital
₹1.55 Cr
Registered with MCA
Paid-up capital
₹1.52 Cr
Issued & subscribed
Open charges
₹12 Cr
Satisfied ₹27 Cr
Company age
26 yrs
Est. 2000
Employees · EPFO
88
Provident fund records
About Evolute Cleantech Solutions Private Limited
Data last updated:
Evolute Cleantech Solutions Private Limited is a private limited company based in Mumbai, Maharashtra, India. It operates in the electronic components and equipment manufacturing segment of the technology and IT services sector. It was incorporated on 11 December 2000 and has been in existence for over 26 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U31909MH2000PTC129973. Its GSTIN is 27AACCR3298Q1ZK (Maharashtra). The company holds 11 GST registrations, of which 10 are active.
The company has an authorised share capital of ₹1.55 Cr and a paid-up capital of ₹1.52 Cr. It was formerly known as Relaytronics (India) Private Limited and Evolute Solutions Private Limited. It is led by directors Parag Kirit Mehta and Paras Kirit Mehta.
Its last annual general meeting (AGM) was held on 30 September 2024, and its latest financial statements are for the year ended 31 March 2024. The registered office is at Mumbai, Maharashtra.
As per the financials filed for FY 2024, the company reported a revenue of ₹46.07 Cr, a decline of 13% compared to the previous year. For the same year it recorded a net profit of ₹4.93 Lakh (net margin 0.1%) and EBITDA of ₹1.18 Cr (EBITDA margin 2.6%). Revenue has declined at a compounded annual rate (CAGR) of 10% over three years and 4% over five years.
The company has about 88 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Evolute. As per MCA filings, the company has open charges of ₹12 Cr and satisfied charges of ₹27 Cr on record. The company has 8 deals on record (7 secondary share transfers, 1 funding round), with disclosed funding of ₹1.23 Cr; the latest was in March 2021. The company has 2 MSME Form 1 returns on record for the period ending Mar 2023, listing 12 overdue payments to 4 micro and small suppliers.
Evolute Cleantech Solutions Private Limited is registered as a medium enterprise under the Udyam registration framework (Reg. No. UDYAM-MH-18-0045703). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website evolute.in.
Company details
CIN U31909MH2000PTC129973
Registration Number 129973
Incorporation Date 11 December 2000
ROC Mumbai
Listing Status Unlisted
Company Status Active
Compliance Status Active Compliant
MSME Classification Medium
Udyam Registration UDYAM-MH-18-0045703
Name history
Evolute Cleantech Solutions has undergone 2 name changes throughout its history. The company was previously known as Relaytronics (India) Private Limited, and Evolute Solutions Private Limited. The current legal name is Evolute Cleantech Solutions Private Limited.
| Company Name | Status |
|---|---|
| Evolute Cleantech Solutions Private Limited | Current |
| Relaytronics (India) Private Limited | Previous |
| Evolute Solutions Private Limited | Previous |
Recognitions & Rankings of Evolute Cleantech Solutions
Contact details
Evolute Cleantech Solutions Private Limited's registered office is in Mumbai, Maharashtra. Its website is evolute.in. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressOffice No 801 8th Floor Grande Edifice, Akurli Village Akurli Road, Mumbai, Maharashtra, India – 400101
- IndustryInformation Technology, Electronic Components & Equipment Manufacturing
To see the full contact details of Evolute Cleantech Solutions Private Limited, buy the company report.
Comprehensive company report
Evolute Cleantech Solutions Private 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
Evolute Cleantech Solutions operates one associated brand: Evolute. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Embedded systems for fintech and payments are designed and manufactured. | evolute.in |
Business activity
The main business activity of Evolute Cleantech Solutions is manufacturing. In detail, this covers computer, electronic, communication and scientific measuring & control equipment.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C9 | Computer, electronic, Communication and scientific measuring & control equipment |
To see the full business activity and turnover split of Evolute Cleantech Solutions Private Limited, buy the company report.
Financials of Evolute Cleantech Solutions Private Limited
FY 2024 filings availableEvolute Cleantech Solutions Private Limited reported revenue of ₹46.07 Cr (down 13% YoY) for FY 2024.
Revenue · FY 2024
₹46.07 Cr ▼ 13%
Net profit · FY 2024
₹4.93 Lakh margin 0.1%
EBITDA · FY 2024
₹1.18 Cr margin 2.6%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▼ 13%
3 years · compounded
▲ 10%
5 years · compounded
▼ 4%
EBITDA CAGR growth
1 year
▼ 77%
3 years · compounded
▼ 1%
5 years · compounded
▼ 13%
Revenue has declined at a compounded annual rate (CAGR) of 4% over five years, including a 13% fall in the latest year. EBITDA fell 77% 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 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | |||||
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| Depreciation and Amortisation | |||||
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| Total Expenses | |||||
| EBITDA | ₹1.18 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹4.93 Lakh | ||||
| Balance Sheet | |||||
| Share Capital | |||||
| Reserves and Surplus | |||||
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Financial Ratios
| Metrics | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 2.6% | ||||
| Net Profit Margin | 0.1% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
| Liquidity and Debt | |||||
| Current Ratio | |||||
| Quick Ratio | |||||
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| Efficiency and Growth | |||||
| Asset Turnover | |||||
| Receivable Days | |||||
| Payable Days | |||||
| Inventory Days | |||||
| Revenue Growth | |||||
| Net Profit Growth | |||||
To see the full financial statements and ratios of Evolute Cleantech Solutions Private Limited, buy the company report.
Board of directors of Evolute Cleantech Solutions Private Limited
Evolute Cleantech Solutions has 2 current directors and 5 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Parag Kirit Mehta Also directs: Glomore Electro-Tech Solutions LLP, Yatra Angels Scale Up Ventures LLP, Evolute Synergies LLP and 4 more | Director | 11 Dec 2000 | 25 Years 11 Months | Current |
| Paras Kirit Mehta Also directs: Glomore Electro-Tech Solutions LLP, Evolute Synergies LLP, Evolute Fintech Innovations Private Limited and 4 more | Director | 01 Nov 2016 | 10 Years 0 Months | Current |
Auditor
Evolute Cleantech Solutions Private Limited is audited by UMESH P GOSAR & ASSOCIATES for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| UMESH P GOSAR & ASSOCIATES | FY 2023 | 103111 |
Shareholding
The shareholding of Evolute Cleantech Solutions Private 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 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Evolute Cleantech Solutions Private Limited, buy the company report.
Charges & borrowings
Open charges
₹12 Cr
Satisfied charges
₹27 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 03 Jun 2017 | 100108912 | Hdfc Bank Limited | ₹12 Cr | Open | |
| 07 Sep 2022 | 100610620 | Sidbi | ₹5 Cr | Satisfied | |
| 05 Jan 2010 | 10199276 | Bank of India | ₹10 Cr | Satisfied | |
| 21 Sep 2005 | 80010765 | Bank of India | ₹12 Cr | Satisfied |
To see the full charge records of Evolute Cleantech Solutions Private Limited, buy the company report.
Total charge records: 4 View all charges
Deals & funding
Evolute Cleantech Solutions Private Limited has 8 deals on record (7 secondary share transfers, 1 funding round), with disclosed funding of ₹1.23 Cr; the latest was in March 2021.
Total deals
8
Secondary share transfers
7
Funding round
1
Disclosed funding
₹1.23 Cr
Deals on record (5 of 8)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2021 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: an individual |
| Sep 2009 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: Shree Granites Private Limited, Bhagyajyoti Trading Private Limited |
| Jan 2008 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: Unisys Softwares and Holding Industries Limited |
| Jan 2008 | Secondary share transfer | Undisclosed | Buyer: Kirit Mehta Huf, Paras Mehta Huf, Parag Mehta Huf, an individual Seller: Kuvam Finvest Private Limited , Universal Multimedia Limited , Sunshine Tracon Private Limited |
| Aug 2006 | Funding round | ₹1.23 Cr | Investors: JMD Sounds Ltd , Prarambh Multitrade Private Limited , Kuvam Finvest Private Limited |
To see the full deal history of Evolute Cleantech Solutions 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
No court or tribunal cases involving Evolute Cleantech Solutions Private Limited are on our record; a case search with case numbers, parties and status is in the company report Buy the company report.
MSME payment delays
Evolute Cleantech Solutions Private Limited has 2 MSME Form 1 returns on record for the period ending Mar 2023, listing 12 overdue payments to 4 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 (4 of 4)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Khushi Multipack Solutions LLP | |||
| Shreeji Industrial Engineers (Bombay) Private Limited | |||
| an individual supplier | |||
| Khanna Traders & Engineers |
To see the full MSME payment records of Evolute Cleantech Solutions Private Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Employees & EPFO
Evolute Cleantech Solutions Private Limited has a workforce of 88 employees on its EPFO records as of May 2026, across 1 active EPFO establishment.
Employee count
88
Active EPFO establishments
1
Employee growth
-15.4%
Headcount by financial year
| Financial year | Employees (EPFO) |
|---|---|
| FY 2026-27 | 88 |
| FY 2025-26 | |
| FY 2024-25 | |
| FY 2023-24 | |
| FY 2022-23 | |
| FY 2021-22 | |
| FY 2020-21 | |
| FY 2019-20 | |
| FY 2018-19 | |
| FY 2017-18 | |
| FY 2016-17 |
To see the full employee and EPFO history of Evolute Cleantech Solutions Private Limited, buy the company report.
GST
Evolute Cleantech Solutions has 11 GST registrations: 10 active and 1 cancelled or inactive. The first 4 active GSTINs are listed below.
Total GSTINs
11
Active
10
Cancelled / inactive
1
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AACCR3298Q1ZK | Maharashtra | Active | 01 Jul 2017 |
| 27AACCR3298Q2ZJ | Maharashtra | Active | 17 Sep 2025 |
| 07AACCR3298Q1ZM | Delhi | Active | 01 Jul 2017 |
| 19AACCR3298Q1ZH | West Bengal | Active | 22 Feb 2021 |
To see the full GST registrations and return filing status of Evolute Cleantech Solutions Private Limited, buy the company report.
Recent activity
Evolute Cleantech Solutions Private Limited has 7 board changes on record since 2000: 2 appointments and 5 cessations. The latest: Paras Kirit Mehta ceased to be Additional Director on 28 Sep 2018.
AGM
Evolute Cleantech Solutions Private Limited last Annual general meeting of members was held on 30 Sep 2024 as per latest MCA records.
Charges
A charge registered on 07 Sep 2022 via Charge ID 100610620 with Sidbi was fully satisfied on 14 May 2024.
Filing
Evolute Cleantech Solutions Private Limited has filed its annual Financial statements for the year ended 31 Mar 2024 with Roc Mumbai.
Charges
A charge with Sidbi amounted to Rs. 5.00 Cr with Charge ID 100610620 was registered on 07 Sep 2022.
Ceased
Paras Kirit Mehta ceased to be Additional Director.
Charges
A charge with Hdfc Bank Limited of Rs. 12.00 Cr registered on 03 Jun 2017 with Charge ID 100108912 was modified on 12 Sep 2017.
Charges
A charge registered on 05 Jan 2010 via Charge ID 10199276 with Bank Of India was fully satisfied on 27 Jul 2017.
Charges
A charge registered on 21 Sep 2005 via Charge ID 80010765 with Bank Of India was fully satisfied on 27 Jul 2017.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 12.00 Cr with Charge ID 100108912 was registered on 03 Jun 2017.
Ceased
Rohini Paras Mehta ceased to be Director.
Appointed
Paras Kirit Mehta was appointed as Director.
Ceased
Gururaj Narayanamurthy Ayekawadi ceased to be Director.
7 earlier events are in the company report.
Frequently asked questions
Evolute Cleantech Solutions is an active private limited company based in Mumbai, Maharashtra, India. The company works in electronic components and equipment manufacturing, within the information technology industry. It was incorporated on 11 December 2000 (26+ years old) and is registered under CIN U31909MH2000PTC129973.
Evolute Cleantech Solutions has 2 current directors:
- Parag Kirit Mehta - Director
- Paras Kirit Mehta - Director
The latest financial statements of Evolute Cleantech Solutions on record with the MCA are for the year ended 31 March 2024. Its last annual general meeting was held on 30 September 2024. Year-wise statements from 2015 are in the company report.
The GSTIN of Evolute Cleantech Solutions is 27AACCR3298Q1ZK, registered in Maharashtra. The company has 11 GST registrations in all, of which 10 are active and 1 is cancelled or inactive. Other active GSTINs include 27AACCR3298Q2ZJ (Maharashtra), 07AACCR3298Q1ZM (Delhi), 19AACCR3298Q1ZH (West Bengal).
The CIN (Corporate Identification Number) of Evolute Cleantech Solutions is U31909MH2000PTC129973. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Evolute Cleantech Solutions was incorporated on 11 December 2000, making it 26+ years old. It is registered with the Registrar of Companies, Mumbai.
Evolute Cleantech Solutions has 8 deals on record (7 secondary share transfers, 1 funding round), with disclosed funding of ₹1.23 Cr; the latest was in March 2021.
Paras Kirit Mehta ceased to be Additional Director on 28 Sep 2018. Rohini Paras Mehta ceased to be Director on 03 Apr 2017. Paras Kirit Mehta was appointed as Director on 01 Nov 2016. Evolute Cleantech Solutions has 7 board changes on record in total.
Yes, Evolute Cleantech Solutions is registered as a medium enterprise under Udyam registration (number: UDYAM-MH-18-0045703).
Evolute Cleantech Solutions has 2 MSME Form 1 returns on record for the period ending Mar 2023, listing 12 overdue payments to 4 micro and small suppliers. The latest return was filed on 29 Aug 2023.
Evolute Cleantech Solutions can be reached through the website evolute.in. Its registered office is in Mumbai, Maharashtra, India.
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