About H2e Power Systems Private Limited
Data last updated:
H2e Power Systems Private Limited is a private limited company based in Pune, Maharashtra, India, a subsidiary of Poonawalla Clean Energy Private Limited and recognised as a startup by DPIIT. It operates in the clean energy solutions segment of the environmental services sector. It was incorporated on 26 September 2011 and has been in existence for over 15 years.
The company is registered with the Registrar of Companies (ROC), Pune, under CIN U40108PN2011PTC140874. Its GSTIN is 27AADCH4303F1Z0 (Maharashtra).
The company has an authorised share capital of ₹74.8 Cr and a paid-up capital of ₹73.74 Cr. It was formerly known as Mayur Watt Fuel Cell Private Limited. It is led by directors including Siddharth Rajendra Mayur (Managing Director) and Amarnath Ashok Chakradeo (Whole-Time Director).
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 20 Sangam Project Phase II & III Wellesely Road Nr. Rto Office, Pune, Maharashtra, India – 411001.
As per the financials filed for FY 2025, the company reported a revenue of ₹14.68 Cr, a decline of 26% compared to the previous year. For the same year it recorded a net loss of ₹22.62 Cr (net margin -154.1%) and EBITDA of -₹20.02 Cr (EBITDA margin -136.4%). Revenue has grown at a compounded annual rate (CAGR) of 33% over three years and 127% over five years.
The company has about 22 employees on its provident fund (EPFO) records.
As per MCA filings, the company has open charges of ₹6.15 Cr on record. The company has 10 deals on record (5 funding rounds, 4 secondary share transfers, 1 acquisition), with disclosed funding of ₹80.77 Cr; the latest was in March 2024. Its 10 peer companies in the Cleantech industry (Energy Solutions) are compared by revenue, 5 larger and 5 smaller; the largest is Ivl India Environmental R&D Private Limited with revenue of ₹15.09 Cr. The company has 4 MSME Form 1 returns on record between 2021 and 2024, listing 6 overdue payments to 5 micro and small suppliers.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website h2epower.net.
- EmailLocked
- TelephoneLocked
- Website
- Social Media
- Registered Address20 Sangam Project Phase II & III Wellesely Road Nr. Rto Office, Pune, Maharashtra, India – 411001
- IndustryEnvironment, Clean Energy Solutions
- 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
- One PDF report, delivered after checkout
Business Activity of H2e Power Systems Private Limited
The main business activity of H2e Power Systems is electricity, gas, steam and air condition supply. In detail, this covers electric power generation, transmission and distribution.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| D | Electricity, gas, steam and air condition supply | D1 | Electric power generation, transmission and distribution | Locked |
Business activity turnover details
Turnover share and past changes in activity are in the company report.
- Turnover contribution
- Historical classifications
- Filing-level activity changes
Verified entity values are shown only after access is granted.
Financials of H2e Power Systems Private Limited FY 2025 filings available
H2e Power Systems Private Limited reported revenue of ₹14.68 Cr (down 26% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR) of H2e Power Systems Private Limited
Revenue fell 26% in the latest year, but over five years it has grown at a compounded annual rate (CAGR) of 127%. EBITDA fell 604% 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 of H2e Power Systems Private Limited
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 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 | -₹20.02 Cr | •••• | •••• | •••• | •••• |
| Profit Before Tax | •••• | •••• | •••• | •••• | •••• |
| Tax Expense | •••• | •••• | •••• | •••• | •••• |
| Net Profit (PAT) | -₹22.62 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 of H2e Power Systems Private Limited
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | -136.4% | •••• | •••• | •••• | •••• |
| Net Profit Margin | -154.1% | •••• | •••• | •••• | •••• |
| 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 | •••• | •••• | •••• | •••• | •••• |
Paid data: the figures shown as dots are available after purchase of the company report. Figures as filed with the MCA in Form AOC-4. The full year-wise statements and ratios of H2e Power Systems are in the company report.
Financial statements from 2015
Earlier years and trend charts are in the company report.
- Income statements
- Balance sheets
- Cash-flow statements
- Ratios and benchmarks
Verified entity values are shown only after access is granted.
Peer Comparison of H2e Power Systems Private Limited
H2e Power Systems Private Limited is compared with the companies closest to it by revenue in the Cleantech industry (Energy Solutions). Its own revenue is ₹14.68 Cr.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Ivl India Environmental R&D Private Limited | ₹15.09 Cr | •••• | •••• | •••• | - | Navi Mumbai, Maharashtra, India |
| Eetamax Energy Solutions Private Limited | ₹15.09 Cr | •••• | •••• | •••• | 23 | Ahmednagar, Maharashtra, India |
| Agastya Invention Private Limited | ₹15.06 Cr | •••• | •••• | •••• | 28 | Kolkata, West Bengal, India |
| Sanmish Energies Private Limited | ₹14.82 Cr | •••• | •••• | •••• | - | Faridabad, Haryana, India |
| Radiant Energy Solutions Private Limited | ₹14.77 Cr | •••• | •••• | •••• | - | Morbi, Gujarat, India |
| H2e Power Systems Private Limited this company | ₹14.68 Cr | •••• | •••• | •••• | - | Pune, Maharashtra, India |
| Sri Harsha Energy Solutions Private Limited | ₹14.63 Cr | •••• | •••• | •••• | - | Hyderabad, Telangana, India |
| Mr Solar Energy Solutions Private Limited | ₹14.5 Cr | •••• | •••• | •••• | - | Haryana, India |
| 3I Energy Solutions Private Limited | ₹14.29 Cr | •••• | •••• | •••• | - | Kaimganj, Uttar Pradesh, India |
| Greennsure Power Private Limited | ₹14.19 Cr | •••• | •••• | •••• | 15 | Chennai, Tamil Nadu, India |
| Lanasol Energy Solutions Private Limited | ₹14.14 Cr | •••• | •••• | •••• | - | Bangalore South, Karnataka, India |
Peers are the five companies nearest above and the five nearest below H2e Power Systems by revenue in the Cleantech industry (Energy Solutions), from the latest filed financials of each company. Net profit, margin and growth of each peer are in the company report.
Auditor Details of H2e Power Systems Private Limited
H2e Power Systems Private Limited is audited by Patki and Soman for the financial year 2022.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| Patki and Soman | Locked | Locked | Locked |
Complete auditor history
Appointment and cessation dates and past auditor changes are in the company report.
- Appointment status
- Appointment dates
- Cessation dates
- Auditor changes
Verified entity values are shown only after access is granted.
Board of Directors of H2e Power Systems Private Limited
H2e Power Systems has 5 current directors and 8 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Amarnath Ashok Chakradeo | Whole-Time Director | 01 Sep 2016 | 10 Years 1 Months | Current |
| Muralidharan Krishna Poduval Also directs: M3v Technologies Private Limited | Director | 10 Jan 2020 | 6 Years 8 Months | Current |
| Michael Ciril Vernekar | Director | 20 Dec 2019 | 6 Years 9 Months | Current |
| Siddharth Rajendra Mayur Also directs: Krishnaarya Tech Corp LLP, Aryaaditya Corp LLP, Homihydrogen Private Limited and 5 more | Managing Director | 26 Sep 2011 | 15 Years 0 Months | Current |
| Saurabh Lakshman Prabhudesai Also directs: City Technology Park LLP, Sanoti Properties LLP, Magic-Square Hospitality Services LLP and 5 more | Director | 20 Dec 2019 | 6 Years 9 Months | Current |
Ownership and Shareholding of H2e Power Systems Private Limited
Shareholding and ownership data
Promoter, institutional, public and beneficial ownership figures are in the company report.
- Ownership categories
- Historical changes
- Group structure
- FII and DII holdings
Verified entity values are shown only after access is granted.
Charges & Borrowings of H2e Power Systems Private Limited
| Date | Lender | Amount | Status |
|---|---|---|---|
| 26 Feb 2024 | The Hongkong and Shanghai Banking Corporation Limited | ₹75 Lakh | Open |
| 07 Jun 2023 | The Hongkong and Shanghai Banking Corporation Limited | ₹25 Lakh | Open |
| 23 Mar 2023 | The Hongkong and Shanghai Banking Corporation Limited | ₹65 Lakh | Open |
| 13 Sep 2021 | Others | ₹4.5 Cr | Open |
Total charge records: 4 View all charges
Deals & Funding of H2e Power Systems Private Limited
H2e Power Systems Private Limited has 10 deals on record (5 funding rounds, 4 secondary share transfers, 1 acquisition), with disclosed funding of ₹80.77 Cr; the latest was in March 2024.
Deals on record (5 of 10)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2024 | Funding round | ₹10 Cr | Investors: Poonawalla Clean Energy Private Limited |
| Mar 2022 | Funding round | ₹46.74 Cr | Investors: Poonawalla Clean Energy Private Limited |
| Aug 2021 | Funding round | ₹7 Cr | Investors: Krishnaarya Tech Corp LLP , 2 individuals |
| Apr 2021 | Funding round | ₹17 Cr | Investors: Poonawalla Clean Energy Private Limited |
| Dec 2019 | Acquisition | ₹32.25 Cr | Buyer: Poonawalla Clean Energy Private Limited |
Full deal history
All 10 deals with amounts, valuations, instruments and every party are in the company report.
- Every funding round and share transfer
- Amounts and valuations
- Investors, buyers and sellers
- Instruments and deal dates
Verified entity values are shown only after access is granted.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
MSME Payment Delays by H2e Power Systems Private Limited
H2e Power Systems Private Limited has 4 MSME Form 1 returns on record between 2021 and 2024, listing 6 overdue payments to 5 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 5)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| an individual supplier | •••• | •••• | •••• |
| Athena Global Logistics Private Limited | •••• | •••• | •••• |
| Bluekrate Commerce LLP | •••• | •••• | •••• |
| Design Directions Private Limited | •••• | •••• | •••• |
| Sharang Corporation | •••• | •••• | •••• |
Full MSME payment history
Every supplier, amount and due date from all 4 MSME Form 1 returns is in the company report.
- Every reported supplier due
- Amounts and due dates
- Reasons given in each return
- Period-by-period history
Verified entity values are shown only after access is granted.
Individuals and sole proprietors among the suppliers are not named. Amounts, due dates and filing dates are in the company report.
Employees and EPFO Compliance at H2e Power Systems Private Limited
H2e Power Systems Private Limited has a workforce of 22 employees as of Apr 06, 2024.
Employee and EPFO history
Monthly headcount, contribution history and filing status are in the company report.
- Monthly headcount
- PF contributions
- ECR filing status
- Establishment history
Verified entity values are shown only after access is granted.
News related to H2e Power Systems Private Limited
Recent Activity on H2e Power Systems Private Limited
H2e Power Systems Private Limited has 13 board changes on record since 2011: 5 appointments and 8 cessations. The latest: Michael Ciril Vernekar ceased to be Additional Director on 31 Dec 2020.
8 earlier events are listed in the company report.
Credit Ratings, Litigation & Regulatory Alerts for H2e Power Systems Private Limited
Credit ratings, litigation, and regulatory alerts
Credit ratings, court records and regulatory alerts are in the company report.
- Rating history
- Court and tribunal cases
- Regulatory alerts
- Director-linked violations
Verified entity values are shown only after access is granted.
Subsidiaries & Group Companies of H2e Power Systems Private Limited
Corporate group structure
Parent, subsidiary, associate and joint venture records with holdings are in the company report.
- Parent company
- Subsidiaries and ownership
- Associates and joint ventures
- Entity investments
Verified entity values are shown only after access is granted.
GST Compliance of H2e Power Systems Private Limited
H2e Power Systems has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AADCH4303F1Z0 | Maharashtra | Active | 01 Jul 2017 |
GST registrations and filing compliance
State-wise GST registrations, return filing status and HSN or SAC codes are in the company report.
- GSTIN registrations
- State-wise filing status
- HSN and SAC details
- Tax jurisdiction records
Verified entity values are shown only after access is granted.
MCA Filings & Documents of H2e Power Systems Private Limited
MCA filings and documents
Filed forms, annual returns, financial statements and charge filings with their dates are in the company report.
- Incorporation documents
- Annual returns and statements
- Charge filings
- Complete filing index
Verified entity values are shown only after access is granted.
Frequently Asked Questions about H2e Power Systems Private Limited
H2e Power Systems is an active private limited company based in Pune, Maharashtra, India. The company works in clean energy solutions, within the environment industry. It was incorporated on 26 September 2011 (15+ years old) and is registered under CIN U40108PN2011PTC140874.
H2e Power Systems reported revenue of ₹14.68 Cr for FY 2025 (down 26% YoY).
H2e Power Systems has 5 current directors:
- Siddharth Rajendra Mayur - Managing Director
- Amarnath Ashok Chakradeo - Whole-Time Director
- Muralidharan Krishna Poduval - Director
- Michael Ciril Vernekar - Director
- Saurabh Lakshman Prabhudesai - Director
H2e Power Systems reported a net loss of ₹22.62 Cr (net margin -154.1%) and EBITDA of -₹20.02 Cr (EBITDA margin -136.4%) for FY 2025, as per its filed financial statements.
The compounded annual growth rate (CAGR) of the revenue of H2e Power Systems is 33% over three years and 127% over five years. In the latest year (FY 2025) revenue fell 26%. CAGR is the steady yearly rate that links the first and the last year.
The GSTIN of H2e Power Systems is 27AADCH4303F1Z0, registered in Maharashtra.
The CIN (Corporate Identification Number) of H2e Power Systems is U40108PN2011PTC140874. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
H2e Power Systems was incorporated on 26 September 2011, making it 15+ years old. It is registered with the Registrar of Companies, Pune.
H2e Power Systems has 10 deals on record (5 funding rounds, 4 secondary share transfers, 1 acquisition), with disclosed funding of ₹80.77 Cr; the latest was in March 2024.
The peers of H2e Power Systems by revenue are Ivl India Environmental R&D Private Limited, Eetamax Energy Solutions Private Limited, Agastya Invention Private Limited, Sanmish Energies Private Limited, Radiant Energy Solutions Private Limited and 5 more, all in the Cleantech industry (Energy Solutions).
Michael Ciril Vernekar ceased to be Additional Director on 31 Dec 2020. Muralidharan Krishna Poduval ceased to be Additional Director on 31 Dec 2020. Saurabh Lakshman Prabhudesai ceased to be Additional Director on 31 Dec 2020. H2e Power Systems has 13 board changes on record in total.
Yes, H2e Power Systems is recognised as a startup by the Department for Promotion of Industry and Internal Trade (DPIIT).