Indigo Generation (India) Private Limited
About Indigo Generation (India) Private Limited
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Indigo Generation (India) Private Limited is a foreign private limited company based in Mumbai, Maharashtra, India, a subsidiary of Indigo Generation Limited. It operates in the electric power generation segment of the energy sector. It was incorporated on 03 May 2016 and has been in existence for over 10 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U40100MH2016FTC363542. Its GSTIN is 27AAECI1142E1Z1 (Maharashtra).
The company has an authorised share capital of ₹4 Cr and a paid-up capital of ₹2.52 Cr. It is led by directors including Payal Sunil Narsale and Mehal Dilip Shah.
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 1 Floor – 2nd 26/28 Mulchand Mansion Kalbadevi Road Vitthalwadi Kalbadevi, Mumbai, Maharashtra, India – 400002.
As per the financials filed for FY 2025, the company reported a revenue of ₹15.19 Lakh, a decline of 94% compared to the previous year. For the same year it recorded a net loss of ₹89.87 Lakh and EBITDA of -₹87.97 Lakh. Revenue has grown at a compounded annual rate (CAGR) of 75% over three years and 103% over five years.
As per MCA filings, the company has satisfied charges of ₹26.15 Cr on record. Court records list 7 cases involving the company, including 4 filed by the company and 3 filed against it; 2 cases are pending. The company has 5 deals on record (3 funding rounds, 2 rights issues), with disclosed funding of ₹95.81 Cr; the latest was in April 2022. Its 10 peer companies in the Cleantech industry (Solar Power) are compared by revenue, 5 larger and 5 smaller; the largest is Samson Solar Power Private Limited with revenue of ₹15.51 Lakh.
The current compliance status is marked as compliant by the Registrar of Companies.
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- Registered Address1 Floor – 2nd 26/28 Mulchand Mansion Kalbadevi Road Vitthalwadi Kalbadevi, Mumbai, Maharashtra, India – 400002
- IndustryEnergy, Electric Power Generation, Transmission And Distribution
- 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 Indigo Generation (India) Private Limited
The main business activity of Indigo Generation (India) 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 Indigo Generation (India) Private Limited FY 2025 filings available
Indigo Generation (India) Private Limited reported revenue of ₹15.19 Lakh (down 94% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR) of Indigo Generation (India) Private Limited
Revenue fell 94% in the latest year, but over five years it has grown at a compounded annual rate (CAGR) of 103%. EBITDA rose 98% 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 Indigo Generation (India) 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 | -₹87.97 Lakh | •••• | •••• | •••• | •••• |
| Profit Before Tax | •••• | •••• | •••• | •••• | •••• |
| Tax Expense | •••• | •••• | •••• | •••• | •••• |
| Net Profit (PAT) | -₹89.87 Lakh | •••• | •••• | •••• | •••• |
| 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 Indigo Generation (India) Private Limited
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | •••• | •••• | •••• | •••• | •••• |
| Net Profit Margin | •••• | •••• | •••• | •••• | •••• |
| 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 Indigo Generation (India) are in the company report.
Financial statements from FY 2017
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 Indigo Generation (India) Private Limited
Indigo Generation (India) Private Limited is compared with the companies closest to it by revenue in the Cleantech industry (Solar Power). Net profit, margin and employee counts of each company are in the company report.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Samson Solar Power Private Limited | ₹15.51 Lakh (FY 2024) | •••• | •••• | •••• | Asansol, West Bengal, India | |
| Harshraj Energy Systems (OPC) Private Limited | ₹15.32 Lakh (FY 2025) | •••• | •••• | 1504.0% | •••• | Baramati, Maharashtra, India |
| Infinity Energy Solutions Private Limited | ₹15.27 Lakh (FY 2025) | •••• | •••• | 425.0% | •••• | New Delhi, Delhi, India |
| Evenwinners Solar Private Limited | ₹15.22 Lakh (FY 2025) | •••• | •••• | •••• | Gurgaon, Haryana, India | |
| Ampin Energy C&I Eleven Private Limited | ₹15.21 Lakh (FY 2025) | •••• | •••• | 2435.0% | •••• | New Delhi, Delhi, India |
| Indigo Generation (India) Private Limited this company | ₹15.19 Lakh (FY 2025) | •••• | •••• | -94.0% | •••• | Mumbai, Maharashtra, India |
| Vena Energy Clean Power Private Limited | ₹15.13 Lakh (FY 2025) | •••• | •••• | 12.0% | •••• | Bangalore, Karnataka, India |
| Eg Mega Urja Private Limited | ₹15.13 Lakh (FY 2025) | •••• | •••• | •••• | Hyderabad, Telangana, India | |
| Samaarambh Solar Power Private Limited | ₹15.06 Lakh (FY 2023) | •••• | •••• | -49.0% | •••• | Hisar, Haryana, India |
| Solguard Services Private Limited | ₹15 Lakh (FY 2024) | •••• | •••• | 155667.0% | •••• | Jaipur, Rajasthan, India |
| Neelkantha Infrapower Limited | ₹15 Lakh (FY 2025) | •••• | •••• | •••• | Noida, Uttar Pradesh, India |
Peers are the five companies nearest above and the five nearest below Indigo Generation (India) by revenue in the Cleantech industry (Solar Power), from the latest filed financials of each company. Net profit, margin and employee counts of each peer are in the company report.
Auditor Details of Indigo Generation (India) Private Limited
Indigo Generation (India) Private Limited is audited by RAVI SARMA & CO for the financial year 2019.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| RAVI SARMA & CO | 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 Indigo Generation (India) Private Limited
Indigo Generation (India) has 3 current directors and 8 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Payal Sunil Narsale Also directs: Ironhide Generation (India) Private Limited | Director | 03 Mar 2020 | 6 Years 7 Months | Current |
| Mehal Dilip Shah Also directs: Ironhide Generation (India) Private Limited | Director | 10 May 2019 | 7 Years 5 Months | Current |
| Rahul Janardan Sankhe Also directs: Agami Ventures LLP, Agami Infra Developers LLP, Agami Infrastructure & Engineering LLP and 5 more | Director | 19 Jul 2019 | 7 Years 2 Months | Current |
Ownership and Shareholding of Indigo Generation (India) 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 Indigo Generation (India) Private Limited
| Date | Lender | Amount | Status |
|---|---|---|---|
| 27 Mar 2018 | Others | ₹7.25 Cr | Satisfied |
| 05 Mar 2018 | Others | ₹18.9 Cr | Satisfied |
Total charge records: 2 View all charges
Deals & Funding of Indigo Generation (India) Private Limited
Indigo Generation (India) Private Limited has 5 deals on record (3 funding rounds, 2 rights issues), with disclosed funding of ₹95.81 Cr; the latest was in April 2022.
Deals on record (5 of 5)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Apr 2022 | Funding round | ₹78.43 Cr | Investors: Indigo Generation Limited |
| Dec 2021 | Rights issue | ₹7.36 Cr | Investors: Indigo Generation Limited |
| Aug 2021 | Rights issue | ₹3.43 Cr | Investors: Indigo Generation Limited |
| Jun 2018 | Funding round | ₹2.68 Cr | Investors: Indigo Generation Limited |
| Jun 2016 | Funding round | ₹14.7 Cr | Investors: Indigo Generation Limited |
Full deal history
All 5 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.
Legal Cases of Indigo Generation (India) Private Limited
Indigo Generation (India) Private Limited has 7 court cases on record: 4 filed by Indigo Generation (India), 3 filed against it. 2 cases are pending and 5 are disposed. Status as checked between 21 Sep 2026 and 03 Oct 2026.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 5 | 3 | 1 |
| District courts | 2 | 0 | 1 |
Cases on record (5 of 7)
| Court | Type of case | Party | Status |
|---|---|---|---|
| Bombay High Court | Court case (CARAP) | Filed against the company by Oriano Clean Energy Private Limited | Disposed |
| Bombay High Court | Interim or miscellaneous application | Filed by the company against Nanda Venttures LLP | Disposed |
| Bombay High Court | Commercial suit | Filed by the company against Nanda Venttures LLP | Disposed |
| High Court for State of Telangana | Revision petition | Filed against the company by an individual | Pending |
| District court, Akola, Maharashtra | Civil suit | Filed by the company against Nanda Ventures LLP | Pending |
Full case history
All 7 cases with case numbers, court, year-wise trend, opposite parties and decision dates are in the company report.
- Every case with its case number
- Year-wise trend
- Opposite parties
- Decision dates and orders
Verified entity values are shown only after access is granted.
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.
Employees and EPFO Compliance at Indigo Generation (India) Private Limited
Employment history and EPFO contributions of people linked to Indigo Generation (India).
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.
CIN History of Indigo Generation (India) Private Limited
Indigo Generation (India) has one previous CIN (Corporate Identification Number): U40100TG2016FTC109367. The current CIN is U40100MH2016FTC363542, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U40100MH2016FTC363542 | Current |
| U40100TG2016FTC109367 | Previous |
Recent Activity on Indigo Generation (India) Private Limited
Indigo Generation (India) Private Limited has 11 board changes on record since 2018: 3 appointments and 8 cessations. The latest: Krishma Pranay Kothari ceased to be Director on 31 Mar 2021.
6 earlier events are listed in the company report.
Credit Ratings, Litigation & Regulatory Alerts for Indigo Generation (India) 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.
MSME Payment Delays by Indigo Generation (India) Private Limited
MSME payment history
Amounts due to small suppliers, the reasons given and MSME-1 filings are in the company report.
- Outstanding amounts
- Delay periods and reasons
- MSME-1 filing history
- Vendor payment signals
Verified entity values are shown only after access is granted.
Subsidiaries & Group Companies of Indigo Generation (India) 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 Indigo Generation (India) Private Limited
Indigo Generation (India) has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAECI1142E1Z1 | 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 Indigo Generation (India) 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 Indigo Generation (India) Private Limited
Indigo Generation (India) is an active foreign private limited company based in Mumbai, Maharashtra, India. The company works in electric power generation, within the energy industry. It was incorporated on 03 May 2016 (10+ years old) and is registered under CIN U40100MH2016FTC363542.
Indigo Generation (India) reported revenue of ₹15.19 Lakh for FY 2025 (down 94% YoY).
Indigo Generation (India) has 3 current directors:
- Payal Sunil Narsale - Director
- Mehal Dilip Shah - Director
- Rahul Janardan Sankhe - Director
Indigo Generation (India) reported a net loss of ₹89.87 Lakh and EBITDA of -₹87.97 Lakh for FY 2025, as per its filed financial statements.
The compounded annual growth rate (CAGR) of the revenue of Indigo Generation (India) is 75% over three years and 103% over five years. In the latest year (FY 2025) revenue fell 94%. CAGR is the steady yearly rate that links the first and the last year.
The GSTIN of Indigo Generation (India) is 27AAECI1142E1Z1, registered in Maharashtra.
The CIN (Corporate Identification Number) of Indigo Generation (India) is U40100MH2016FTC363542. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Indigo Generation (India) has 7 court cases on record: 4 filed by the company and 3 filed against it. 2 are pending. Most are in the high courts.
Indigo Generation (India) was incorporated on 03 May 2016, making it 10+ years old. It is registered with the Registrar of Companies, Mumbai.
Indigo Generation (India) has 5 deals on record (3 funding rounds, 2 rights issues), with disclosed funding of ₹95.81 Cr; the latest was in April 2022.
The peers of Indigo Generation (India) by revenue are Samson Solar Power Private Limited, Harshraj Energy Systems (OPC) Private Limited, Infinity Energy Solutions Private Limited, Evenwinners Solar Private Limited, Ampin Energy C&I Eleven Private Limited and 5 more, all in the Cleantech industry (Solar Power).