Gridfree Solar Energy Limited

Gridfree Solar Energy Limited - energy and power in Bhilwara, Rajasthan, India. FY 2026 financials & compliance.
CIN U40108RJ2018PLC060220 Incorporated 13 February 2018 ROC Jaipur HQ Bhilwara, Rajasthan, India
Active Public Limited Company energy and power MSME
Data last updated
Revenue · FY 2025
₹101.44 Cr
▼ 31% YoY
Net profit · FY 2025
₹1.28 Cr
Net margin 1.3%
EBITDA · FY 2025
₹2.84 Cr
EBITDA margin 2.8%
Authorised capital
₹8 Cr
Registered with MCA
Paid-up capital
₹5.53 Cr
Issued & subscribed
Open charges
₹43.31 Cr
Satisfied ₹12.5 Cr
Company age
8 yrs
Est. 2018
Employees · EPFO
10
Provident fund records

About Gridfree Solar Energy Limited

Data last updated:

Gridfree Solar Energy Limited is a public limited company based in Bhilwara, Rajasthan, India. It operates in the power epc segment of the energy and power sector. It was incorporated on 13 February 2018 and has been in existence for over 8 years.

The company is registered with the Registrar of Companies (ROC), Jaipur, under CIN U40108RJ2018PLC060220. Its GSTIN is 08AAHCG1804E1ZZ (Rajasthan).

The company has an authorised share capital of ₹8 Cr and a paid-up capital of ₹5.53 Cr. It is led by directors including Chitwan Agarwal (Whole-Time Director) and Chitra Naraniwal.

Its last annual general meeting (AGM) was held on 30 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Ground Floor – G – 198 To 200 RIICO 4th Phase, Bhilwara, Rajasthan, India – 311001.

As per the financials filed for FY 2025, the company reported a revenue of ₹101.44 Cr, a decline of 31% compared to the previous year. For the same year it recorded a net profit of ₹1.28 Cr (net margin 1.3%) and EBITDA of ₹2.84 Cr (EBITDA margin 2.8%). Revenue has grown at a compounded annual rate (CAGR) of 17% over three years and 51% over five years.

The company has about 10 employees on its provident fund (EPFO) records.

The company is associated with 1 brand: Gridfree Solar Energy. As per MCA filings, the company has open charges of ₹43.31 Cr and satisfied charges of ₹12.5 Cr on record. Court records list 2 cases involving the company, including 2 filed by the company. The company has 1 deal on record (1 rights issue); the latest was in November 2020.

Gridfree Solar Energy Limited is registered as an MSME under the Udyam registration framework (Reg. No. UDYAM-RJ-07-0001249). For more details, the company can be reached via its website gridfreesolarenergy.com.

Company details

CIN U40108RJ2018PLC060220
Registration Number 060220
Incorporation Date 13 February 2018
ROC Jaipur
Listing Status Unlisted
Company Status Active
Date of Last AGM 30 September 2025
Date of Balance Sheet 31 March 2025
MSME Classification MSME
Udyam Registration UDYAM-RJ-07-0001249
Key People
Chitwan Agarwal Whole-Time Director Chitra Naraniwal Director Chaitanya Agarwal Director

Recognitions & Rankings of Gridfree Solar Energy

MSME (Udyam registered) Ministry of MSME
Udyam number
UDYAM-RJ-07-0001249

Contact details

Gridfree Solar Energy Limited's registered office is in Bhilwara, Rajasthan. Its website is gridfreesolarenergy.com. Its e-mail address and telephone number are in the company report.

  • Email
  • Telephone
  • Website
    gridfreesolarenergy.com
  • Social Media
  • Registered Address
    Ground Floor – G – 198 To 200 RIICO 4th Phase, Bhilwara, Rajasthan, India – 311001
  • Industry
    Energy and Power, Power EPC, BoP & BTG Services

To see the full contact details of Gridfree Solar Energy Limited, buy the company report.

Comprehensive company report
Gridfree Solar Energy 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

Gridfree Solar Energy operates one associated brand: Gridfree Solar Energy. Each brand links to its own profile.

BrandDescriptionWebsite
Gridfree Solar Energy
Offers solar panels, EPC, and storage for B2B and B2C clients in India.gridfreesolarenergy.com

Business activity

The main business activity of Gridfree Solar Energy is trade. In detail, this covers retail trading.

Main activity group codeMain activityBusiness activity codeBusiness activityShare of turnover
GTradeG2Retail Trading

To see the full business activity and turnover split of Gridfree Solar Energy Limited, buy the company report.

Financials of Gridfree Solar Energy Limited

FY 2025 filings available

Gridfree Solar Energy Limited reported revenue of ₹101.44 Cr (down 31% YoY) for FY 2025.

Revenue · FY 2025
₹101.44 Cr ▼ 31%
Net profit · FY 2025
₹1.28 Cr margin 1.3%
EBITDA · FY 2025
₹2.84 Cr margin 2.8%

Compounded Annual Growth Rate (CAGR)

Revenue CAGR growth
1 year
▼ 31%
3 years · compounded
▲ 17%
5 years · compounded
▲ 51%
EBITDA CAGR growth
1 year
▼ 50%
3 years · compounded
▲ 18%
5 years · compounded
▲ 59%

Revenue fell 31% in the latest year, but over five years it has grown at a compounded annual rate (CAGR) of 51%. EBITDA fell 50% 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

MetricsFY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 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₹2.84 Cr
Profit Before Tax
Tax Expense
Net Profit (PAT)₹1.28 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

MetricsFY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21
Profitability
EBITDA Margin2.8%
Net Profit Margin1.3%
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

To see the full financial statements and ratios of Gridfree Solar Energy Limited, buy the company report.

Board of directors of Gridfree Solar Energy Limited

Gridfree Solar Energy has 5 current directors and 11 former directors. Current directors are listed first, with their designation and appointment date.

Current Directors
NameDesignationAppointment DateTenureStatus
Chitwan Agarwal
Also directs: Gomur Fabrics Private Limited, Erv Solar 1 Private Limited, Aravali Hotel and Resort Limited and 2 more
Whole-Time Director13 Feb 20188 Years 8 MonthsCurrent
Chitra Naraniwal
Also directs: Bhilwara Spinners Limited, Atvo Enterprises Limited, Elfin Agro India Limited and 1 more
Director11 Mar 20251 Years 7 MonthsCurrent
Chaitanya Agarwal
Also directs: Erv Solar 1 Private Limited, Aravali Hotel and Resort Limited, Gomur Investment Advisory Private Limited and 2 more
Director24 Nov 20205 Years 11 MonthsCurrent
Kirti Agarwal
Also directs: Sanwariyaji Texfab Industries Limited, Ranjan Polyster Ltd., Celtis Commodities Limited
Director11 Mar 20251 Years 7 MonthsCurrent
Vatsal Agarwal
Also directs: Aravali Hotel and Resort Limited, Erv Solar Renewables Private Limited
Director03 May 20251 Years 6 MonthsCurrent
View all directors

Auditor

Gridfree Solar Energy Limited is audited by Goyal D. Kumar & Co. for the financial year 2023.

Auditor firmFinancial yearFirm registration number
Goyal D. Kumar & Co.FY 2023076713

Shareholding

The shareholding of Gridfree Solar Energy Limited is on record for 5 financial years, the latest being FY 2023, split between promoters, domestic institutions, public shareholders and others.

Shareholder categoryFY 2023FY 2022FY 2021FY 2020FY 2019
Promoters
Domestic institutional investors (DII)
Public
Others

To see the full shareholding pattern of Gridfree Solar Energy Limited, buy the company report.

Charges & borrowings

Open charges
₹43.31 Cr
Satisfied charges
₹12.5 Cr
Breakdown by lending institutions
Others₹42.77 Cr
Hdfc Bank Limited₹0.54 Cr
Latest charge details
DateCharge IDLenderAmountStatusModified or satisfied on
21 Apr 2025101108271Others₹2.84 CrOpen
19 Mar 2025101073078Others₹3.5 CrOpen
24 Oct 2024101000884Others₹3.43 CrOpen
20 Sep 2023100780149Others₹3 CrOpen
25 May 2023100752557Hdfc Bank Limited₹34.83 LakhOpen

To see the full charge records of Gridfree Solar Energy Limited, buy the company report.

Total charge records: 9 View all charges

Deals & funding

Gridfree Solar Energy Limited has 1 deal on record (1 rights issue); the latest was in November 2020.

Total deals
1
Rights issue
1

Deals on record (1 of 1)

WhenDealAmountParties
Nov 2020Rights issue₹1.93 CrInvestors: Pawan Kumar Sarogi HUF, 3 individuals
Seller: an individual

Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.

MSME payment delays

No delayed payments to MSME suppliers are on our record for Gridfree Solar Energy Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.

Employees & EPFO

Gridfree Solar Energy Limited has a workforce of 10 employees on its EPFO records as of Apr 10, 2024, across 1 active EPFO establishment.

Employee count
10
Active EPFO establishments
1
Employee growth
25%

GST

Gridfree Solar Energy has 1 GST registration: 1 active.

Total GSTINs
1
Active
1
GSTINStateStatusRegistered on
08AAHCG1804E1ZZRajasthanActive16 Feb 2018

To see the full GST registrations and return filing status of Gridfree Solar Energy Limited, buy the company report.

Recent activity

Gridfree Solar Energy Limited has 16 board changes on record since 2018: 5 appointments and 11 cessations. The latest: Vatsal Agarwal was appointed as Director on 03 May 2025.

AGM
Gridfree Solar Energy Limited last Annual general meeting of members was held on 30 Sep 2025 as per latest MCA records.
Appointed
Vatsal Agarwal was appointed as Director.
Charges
A charge with Others amounted to Rs. 2.84 Cr with Charge ID 101108271 was registered on 21 Apr 2025.
Filing
Gridfree Solar Energy Limited has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Jaipur.
Charges
A charge with Others amounted to Rs. 3.50 Cr with Charge ID 101073078 was registered on 19 Mar 2025.
Appointed
Chitra Naraniwal was appointed as Director.
Appointed
Kirti Agarwal was appointed as Director.
Ceased
Chaitanya Agarwal ceased to be Director.
Ceased
Chitra Naraniwal ceased to be Director.
Ceased
Kirti Agarwal ceased to be Director.
Ceased
Shubhangi Janifer ceased to be Director.
Charges
A charge registered on 20 May 2022 via Charge ID 100591436 with Others was fully satisfied on 17 Dec 2024.

20 earlier events are in the company report.

Frequently asked questions

Gridfree Solar Energy is an active public limited company based in Bhilwara, Rajasthan, India. The company works in power epc, within the energy and power industry. It was incorporated on 13 February 2018 (8+ years old) and is registered under CIN U40108RJ2018PLC060220.

Gridfree Solar Energy has 5 current directors:

The latest financial statements of Gridfree Solar Energy on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 30 September 2025. Year-wise statements from FY 2018 are in the company report.

The GSTIN of Gridfree Solar Energy is 08AAHCG1804E1ZZ, registered in Rajasthan.

The CIN (Corporate Identification Number) of Gridfree Solar Energy is U40108RJ2018PLC060220. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.

Gridfree Solar Energy has 2 court cases on record: 2 filed by the company.

Gridfree Solar Energy was incorporated on 13 February 2018, making it 8+ years old. It is registered with the Registrar of Companies, Jaipur.

Gridfree Solar Energy has 1 deal on record (1 rights issue); the latest was in November 2020.

Vatsal Agarwal was appointed as Director on 03 May 2025. Chitra Naraniwal was appointed as Director on 11 Mar 2025. Kirti Agarwal was appointed as Director on 11 Mar 2025. Gridfree Solar Energy has 16 board changes on record in total.

Yes, Gridfree Solar Energy is registered as an MSME under Udyam registration (number: UDYAM-RJ-07-0001249).