About Indigrid Solar-I (Ap) Private Limited
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Indigrid Solar-I (Ap) Private Limited is a foreign private limited company based in New Delhi, Delhi, India, a subsidiary of India Grid Trust. It operates in the solar energy solutions segment of the environmental services sector. It was incorporated on 14 July 2016 and has been in existence for over 10 years.
The company is registered with the Registrar of Companies (ROC), Delhi, under CIN U40106DL2016FTC325525. Its GSTIN is 37AACCF8625R1ZW (Andhra Pradesh). The company holds 3 GST registrations, of which 2 are active.
The company has an authorised share capital of ₹12 Cr and a paid-up capital of ₹12 Cr. It was formerly known as Frv Andhra Pradesh Solar Farm-I Private Limited. It is led by directors including Apoorv Vinodbhai Darji and Jose Luis Blasco Marquino (Body Corporte As Promoter).
Its last annual general meeting (AGM) was held on 25 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Shop No 28A Ground Floor, Omaxe Square Jasola New Delhi, Delhi, India – 110025.
As per the financials filed for FY 2025, the company reported a revenue of ₹44.51 Cr, a decline of 7% compared to the previous year. For the same year it recorded a net loss of ₹23.73 Cr (net margin -53.3%) and EBITDA of ₹38.14 Cr (EBITDA margin 85.7%). Revenue has declined at a compounded annual rate (CAGR) of 2% over three years.
The company has about 12 employees on its provident fund (EPFO) records.
The company is associated with 2 brands: Fotowatio Renewable Ventures and IndiGrid. As per MCA filings, the company has open charges of ₹22.25 Cr and satisfied charges of ₹279 Cr on record. The company has 9 deals on record (5 convertible or debt financings, 4 debt financings), with disclosed funding of ₹264.23 Cr; the latest was in March 2019. Its 7 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 larger and 4 smaller; the largest is Azure Urja Private Limited with revenue of ₹45.29 Cr. The company has 7 MSME Form 1 returns on record between 2019 and 2023, listing 25 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 indigrid.co.in.
Company details
CIN history
Indigrid Solar-I (Ap) has one previous CIN (Corporate Identification Number): U40106HR2016FTC065003. The current CIN is U40106DL2016FTC325525, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U40106DL2016FTC325525 | Current |
| U40106HR2016FTC065003 | Previous |
Contact details
Indigrid Solar-I (Ap) Private Limited's registered office is in New Delhi, Delhi. Its website is indigrid.co.in. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressShop No 28A Ground Floor, Omaxe Square Jasola New Delhi, Delhi, India – 110025
- IndustryEnvironment, Solar Energy Solutions
To see the full contact details of Indigrid Solar-I (Ap) 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
Brands
Indigrid Solar-I (Ap) operates two associated brands: Fotowatio Renewable Ventures and IndiGrid. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Utility-scale renewable energy solutions are developed for power generation. | frv.com | |
| Power transmission lines, substations, and battery storage systems are operated. | indigrid.co.in |
Business activity
The main business activity of Indigrid Solar-I (Ap) 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 Indigrid Solar-I (Ap) Private Limited, buy the company report.
Financials of Indigrid Solar-I (Ap) Private Limited
FY 2025 filings availableIndigrid Solar-I (Ap) Private Limited reported revenue of ₹44.51 Cr (down 7% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue has declined at a compounded annual rate (CAGR) of 2% over three years, including a 7% fall in the latest year. EBITDA fell 5% 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 | ₹38.14 Cr | ||||
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| Net Profit (PAT) | -₹23.73 Cr | ||||
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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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| Profitability | |||||
| EBITDA Margin | 85.7% | ||||
| Net Profit Margin | -53.3% | ||||
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To see the full financial statements and ratios of Indigrid Solar-I (Ap) Private Limited, buy the company report.
Board of directors and KMP of Indigrid Solar-I (Ap) Private Limited
Indigrid Solar-I (Ap) Private Limited currently reports 3 directors and 1 key managerial person. 15 former directors have served the organization.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Swapnil Prakash Patil | Company Secretary | 07 Nov 2022 | 3 Years 11 Months | Current |
| Apoorv Vinodbhai Darji | Director | 23 Jul 2025 | 1 Years 3 Months | Current |
| Jose Luis Blasco Marquino Also directs: Indigrid Solar-Ii (Ap) Private Limited | Body Corporte As Promoter | 14 Jul 2016 | 10 Years 3 Months | Current |
| Ravi Swapna | Director | 23 Jul 2025 | 1 Years 3 Months | Current |
Peer comparison
Indigrid Solar-I (Ap) Private Limited is compared with the 7 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 |
|---|---|---|---|---|---|---|
| Azure Urja Private Limited | ₹45.29 Cr (FY 2025) | 11.0% | New Delhi, Delhi, India | |||
| Green Urja Private Limited | ₹45.05 Cr (FY 2025) | -3.0% | Delhi, India | |||
| Infosys Green Forum | ₹44.75 Cr (FY 2025) | 13.0% | Bengaluru, Karnataka, India | |||
| Indigrid Solar-I (Ap) Private Limitedthis company | ₹44.51 Cr (FY 2025) | -₹23.73 Cr | -53.3% | -7.0% | 12 | New Delhi, Delhi, India |
| Adani Renewable Energy Park Rajasthan Limited | ₹44.25 Cr (FY 2024) | 25.0% | Jaipur, Rajasthan, India | |||
| Sunroof Power Solution Private Limited | ₹44 Cr (FY 2025) | 9.0% | Noida, Uttar Pradesh, India | |||
| VSV Renewables Private Limited | ₹43.92 Cr (FY 2025) | -7.0% | Hyderabad, Telangana, India | |||
| Fpel Ujwal Private Limited | ₹43.8 Cr (FY 2025) | 2917.0% | Hyderabad, Telangana, India |
To see the full peer comparison of Indigrid Solar-I (Ap) Private Limited, buy the company report.
Auditor
Indigrid Solar-I (Ap) Private Limited is audited by S R B C & CO LLP for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| S R B C & CO LLP | FY 2023 | 324982E/E300003 |
Shareholding
The shareholding of Indigrid Solar-I (Ap) 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) | |||||
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| Public | |||||
| Others |
To see the full shareholding pattern of Indigrid Solar-I (Ap) Private Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 23 Jun 2021 | 100455921 | Others | ₹22.25 Cr | Open | |
| 13 Sep 2017 | 100124463 | Others | ₹93 Cr | Satisfied | |
| 22 Jun 2017 | 100124700 | Others | ₹93 Cr | Satisfied | |
| 16 Jun 2017 | 100124680 | Others | ₹93 Cr | Satisfied |
To see the full charge records of Indigrid Solar-I (Ap) Private Limited, buy the company report.
Total charge records: 4 View all charges
Deals & funding
Indigrid Solar-I (Ap) Private Limited has 9 deals on record (5 convertible or debt financings, 4 debt financings), with disclosed funding of ₹264.23 Cr; the latest was in March 2019.
Deals on record (4 of 9)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2019 | Debt financing | ₹18.2 Cr | Investors: Netherlands Development Finance Company, International Finance Corporation |
| Jul 2018 | Debt financing | ₹30.8 Cr | Investors: Netherlands Development Finance Company, International Finance Corporation |
| Jan 2018 | Debt financing | ₹105.4 Cr | Investors: Netherlands Development Finance Company, International Finance Corporation |
| Nov 2017 | Debt financing | ₹28.2 Cr | Investors: International Finance Corporation, Netherlands Development Finance Company |
To see the full deal history of Indigrid Solar-I (Ap) 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 Indigrid Solar-I (Ap) 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
Indigrid Solar-I (Ap) Private Limited has 7 MSME Form 1 returns on record between 2019 and 2023, listing 25 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 |
|---|---|---|---|
| Itilite Technologies Private Limited | |||
| First Global Services Private Limited | |||
| Vivish Technologies Private Limited | |||
| Legasis Private Limited | |||
| Bdo India LLP |
To see the full MSME payment records of Indigrid Solar-I (Ap) Private Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Employees & EPFO
Indigrid Solar-I (Ap) Private Limited has a workforce of 12 employees on its EPFO records as of Apr 03, 2024, across 1 active EPFO establishment.
GST
Indigrid Solar-I (Ap) has 3 GST registrations: 2 active and 1 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 37AACCF8625R1ZW | Andhra Pradesh | Active | 01 Jul 2017 |
| 27AACCF8625R1ZX | Maharashtra | Active | 20 Jan 2022 |
To see the full GST registrations and return filing status of Indigrid Solar-I (Ap) Private Limited, buy the company report.
Recent activity
Indigrid Solar-I (Ap) Private Limited has 16 board changes on record since 2016: 4 appointments and 12 cessations. The latest: Apoorv Vinodbhai Darji ceased to be Additional Director on 24 Sep 2025.
17 earlier events are in the company report.
News
Frequently asked questions
Indigrid Solar-I (Ap) is an active foreign private limited company based in New Delhi, Delhi, India. The company works in solar energy solutions, within the environment industry. It was incorporated on 14 July 2016 (10+ years old) and is registered under CIN U40106DL2016FTC325525.
Indigrid Solar-I (Ap) has 4 current directors and KMP:
- Apoorv Vinodbhai Darji - Director
- Ravi Swapna - Director
- Swapnil Prakash Patil - Company Secretary
- Jose Luis Blasco Marquino - Body Corporte As Promoter
The latest financial statements of Indigrid Solar-I (Ap) on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 25 September 2025. Year-wise statements from FY 2017 are in the company report.
The GSTIN of Indigrid Solar-I (Ap) is 37AACCF8625R1ZW, registered in Andhra Pradesh. The company has 3 GST registrations in all, of which 2 are active and 1 is cancelled or inactive. Other active GSTINs include 27AACCF8625R1ZX (Maharashtra).
The CIN (Corporate Identification Number) of Indigrid Solar-I (Ap) is U40106DL2016FTC325525. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Indigrid Solar-I (Ap) was incorporated on 14 July 2016, making it 10+ years old. It is registered with the Registrar of Companies, Delhi.
Indigrid Solar-I (Ap) has 9 deals on record (5 convertible or debt financings, 4 debt financings), with disclosed funding of ₹264.23 Cr; the latest was in March 2019.
The peers of Indigrid Solar-I (Ap) by revenue are Azure Urja Private Limited, Green Urja Private Limited, Infosys Green Forum, Adani Renewable Energy Park Rajasthan Limited, Sunroof Power Solution Private Limited and 2 more, all in the Cleantech industry (Solar Power), with the same principal business activity (electric power generation, transmission and distribution).
Apoorv Vinodbhai Darji ceased to be Additional Director on 24 Sep 2025. Ravi Swapna ceased to be Additional Director on 24 Sep 2025. Apoorv Vinodbhai Darji was appointed as Director on 23 Jul 2025. Indigrid Solar-I (Ap) has 16 board changes on record in total.
Indigrid Solar-I (Ap) has 7 MSME Form 1 returns on record between 2019 and 2023, listing 25 overdue payments to 5 micro and small suppliers. The latest return was filed on 21 Nov 2023.
Indigrid Solar-I (Ap) can be reached through the website indigrid.co.in. Its registered office is in New Delhi, Delhi, India.
The registered office of Indigrid Solar-I (Ap) is at Shop No 28A Ground Floor, Omaxe Square Jasola New Delhi, Delhi, India – 110025.