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 3 peer companies in the Cleantech industry (Solar Power), with the same principal business activity (electric power generation, transmission and distribution) are compared by revenue, 3 smaller; the largest is Vena Energy Clean Power Private Limited with revenue of ₹15.13 Lakh.
The current compliance status is marked as compliant by the Registrar of Companies.
Company details
CIN history
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 |
Contact details
Indigo Generation (India) Private Limited's registered office is in Mumbai, Maharashtra. Its e-mail address is in the company report.
- Email
- Registered Address1 Floor – 2nd 26/28 Mulchand Mansion Kalbadevi Road Vitthalwadi Kalbadevi, Mumbai, Maharashtra, India – 400002
- IndustryEnergy, Electric Power Generation, Transmission And Distribution
To see the full contact details of Indigo Generation (India) Private Limited, buy the company report.
- 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
Business activity
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 | 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 Indigo Generation (India) Private Limited, buy the company report.
Financials of Indigo Generation (India) Private Limited
FY 2025 filings availableIndigo Generation (India) Private Limited reported revenue of ₹15.19 Lakh (down 94% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
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
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
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| EBITDA | -₹87.97 Lakh | ||||
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| Tax Expense | |||||
| Net Profit (PAT) | -₹89.87 Lakh | ||||
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Financial Ratios
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
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To see the full financial statements and ratios of Indigo Generation (India) Private Limited, buy the company report.
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 8 Months | Current |
| Mehal Dilip Shah Also directs: Ironhide Generation (India) Private Limited | Director | 10 May 2019 | 7 Years 6 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 3 Months | Current |
Peer comparison
Indigo Generation (India) Private Limited is compared with the 3 companies closest to it by revenue in the Cleantech industry (Solar Power), 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 |
|---|---|---|---|---|---|---|
| Indigo Generation (India) Private Limitedthis company | ₹15.19 Lakh (FY 2025) | -₹89.87 Lakh | -94.0% | Mumbai, Maharashtra, India | ||
| Vena Energy Clean Power Private Limited | ₹15.13 Lakh (FY 2025) | 12.0% | Bangalore, Karnataka, 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 |
To see the full peer comparison of Indigo Generation (India) Private Limited, buy the company report.
Auditor
Indigo Generation (India) Private Limited is audited by RAVI SARMA & CO for the financial year 2019.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| RAVI SARMA & CO | FY 2019 | 015606S |
Shareholding
The shareholding of Indigo Generation (India) Private Limited is on record for 2 financial years, the latest being FY 2018, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2018 | FY 2017 |
|---|---|---|
| Promoters | ||
| Domestic institutional investors (DII) | ||
| Foreign institutional investors (FII) | ||
| Public | ||
| Others |
To see the full shareholding pattern of Indigo Generation (India) Private Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 27 Mar 2018 | 100164115 | Others | ₹7.25 Cr | Satisfied | |
| 05 Mar 2018 | 100158398 | Others | ₹18.9 Cr | Satisfied |
To see the full charge records of Indigo Generation (India) Private Limited, buy the company report.
Total charge records: 2 View all charges
Deals & funding
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 |
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
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.
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 |
|---|---|---|---|
| District court, Akola, Maharashtra | Civil suit | Filed by the company against Aeg Green Power India Private Limited and 4 others | Pending |
| High Court | Court case (CARAP) | Filed against the company by Oriano Clean Energy Pvt Ltdthrough Its Representative Ms Bhoomika Nanda | Disposed |
| High Court, MAHARASHTRA | Commercial suit | Filed by the company against Nanda Venttures LLP and 4 Ors and 4 others | Disposed |
| High Court, MAHARASHTRA | Interim or miscellaneous application | Filed by the company against Nanda Venttures LLP and 4 Ors | Disposed |
| High Court, TELANGANA | Revision petition | Filed against the company by an individual | Pending |
To see the full case history of Indigo Generation (India) Private 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.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Indigo Generation (India) Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
GST
Indigo Generation (India) has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAECI1142E1Z1 | Maharashtra | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Indigo Generation (India) Private Limited, buy the company report.
Recent activity
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 in the company report.
Frequently asked questions
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) has 3 current directors:
- Payal Sunil Narsale - Director
- Mehal Dilip Shah - Director
- Rahul Janardan Sankhe - Director
The latest financial statements of Indigo Generation (India) 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 2017 are in the company report.
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 Vena Energy Clean Power Private Limited, Samaarambh Solar Power Private Limited, Solguard Services Private Limited, all in the Cleantech industry (Solar Power), with the same principal business activity (electric power generation, transmission and distribution).
Krishma Pranay Kothari ceased to be Director on 31 Mar 2021. Pedro Perejon Jimenez ceased to be Director on 09 Feb 2021. Payal Sunil Narsale ceased to be Additional Director on 31 Dec 2020. Indigo Generation (India) has 11 board changes on record in total.
The registered office of Indigo Generation (India) is at 1 Floor – 2nd 2628 Mulchand Mansion Kalbadevi Road Vitthalwadi Kalbadevi, Mumbai, Maharashtra, India – 400002.
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