About Indigrid Solar-Ii (Ap) Private Limited
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Indigrid Solar-Ii (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 09 July 2016 and has been in existence for over 10 years.
The company is registered with the Registrar of Companies (ROC), Delhi, under CIN U40106DL2016FTC325401. Its GSTIN is 37AACCF8580F1ZF (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 India Solar Park-Ii 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 ₹48.09 Cr, a decline of 6% compared to the previous year. For the same year it recorded a net loss of ₹21.21 Cr (net margin -44.1%) and EBITDA of ₹42.07 Cr (EBITDA margin 87.5%). Revenue has declined at a compounded annual rate (CAGR) of 1% over three years.
The company has about 8 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Fotowatio Renewable Ventures. As per MCA filings, the company has open charges of ₹22.25 Cr and satisfied charges of ₹279 Cr on record. Court records list 1 case involving the company, including 1 filed by the company. The company has 3 deals on record (1 funding round, 1 secondary share transfer, 1 acquisition), with disclosed funding of ₹81 Cr; the latest was in December 2020. Its 6 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 3 smaller; the largest is Clean Max Scorpius Private Limited with revenue of ₹48.69 Cr. The company has 9 MSME Form 1 returns on record between 2019 and 2023, listing 34 overdue payments to 4 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 frv.com.
Company details
CIN history
Indigrid Solar-Ii (Ap) has one previous CIN (Corporate Identification Number): U40106HR2016FTC064931. The current CIN is U40106DL2016FTC325401, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U40106DL2016FTC325401 | Current |
| U40106HR2016FTC064931 | Previous |
Contact details
Indigrid Solar-Ii (Ap) Private Limited's registered office is in New Delhi, Delhi. Its website is frv.com. 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-Ii (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-Ii (Ap) operates one associated brand: Fotowatio Renewable Ventures. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Utility-scale renewable energy solutions are developed for power generation. | frv.com |
Business activity
The main business activity of Indigrid Solar-Ii (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-Ii (Ap) Private Limited, buy the company report.
Financials of Indigrid Solar-Ii (Ap) Private Limited
FY 2025 filings availableIndigrid Solar-Ii (Ap) Private Limited reported revenue of ₹48.09 Cr (down 6% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue has declined at a compounded annual rate (CAGR) of 1% over three years, including a 6% 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 | ₹42.07 Cr | ||||
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| Net Profit (PAT) | -₹21.21 Cr | ||||
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Financial Ratios
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 87.5% | ||||
| Net Profit Margin | -44.1% | ||||
| Return on Equity (ROE) | |||||
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To see the full financial statements and ratios of Indigrid Solar-Ii (Ap) Private Limited, buy the company report.
Board of directors of Indigrid Solar-Ii (Ap) Private Limited
Indigrid Solar-Ii (Ap) has 3 current directors and 16 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Apoorv Vinodbhai Darji | Director | 23 Jul 2025 | 1 Years 3 Months | Current |
| Jose Luis Blasco Marquino Also directs: Indigrid Solar-I (Ap) Private Limited | Body Corporte As Promoter | 09 Jul 2016 | 10 Years 3 Months | Current |
| Ravi Swapna | Director | 23 Jul 2025 | 1 Years 3 Months | Current |
Peer comparison
Indigrid Solar-Ii (Ap) Private Limited is compared with the 6 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 |
|---|---|---|---|---|---|---|
| Clean Max Scorpius Private Limited | ₹48.69 Cr (FY 2025) | 46.0% | Mumbai, Maharashtra, India | |||
| Magnet Buildtech Private Limited | ₹48.58 Cr (FY 2025) | 1.0% | Ahmedabad, Gujarat, India | |||
| Maheswari Mining & Energy Private Limited | ₹48.52 Cr (FY 2024) | 23.0% | Hyderabad, Telangana, India | |||
| Indigrid Solar-Ii (Ap) Private Limitedthis company | ₹48.09 Cr (FY 2025) | -₹21.21 Cr | -44.1% | -6.0% | 8 | New Delhi, Delhi, India |
| Sei Kathiravan Power Private Limited | ₹47.84 Cr (FY 2025) | -7.0% | Hyderabad, Telangana, India | |||
| Cleanmax Ipp 1 Private Limited | ₹47.79 Cr (FY 2025) | 2.0% | Mumbai, Maharashtra, India | |||
| Acme Odisha Solar Power Private Limited | ₹47.52 Cr (FY 2025) | 3.0% | Gurgaon, Haryana, India |
To see the full peer comparison of Indigrid Solar-Ii (Ap) Private Limited, buy the company report.
Auditor
Indigrid Solar-Ii (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-Ii (Ap) Private Limited is on record for 5 financial years, the latest being FY 2022, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Indigrid Solar-Ii (Ap) Private Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 23 Jun 2021 | 100455928 | Others | ₹22.25 Cr | Open | |
| 13 Sep 2017 | 100174102 | Others | ₹93 Cr | Satisfied | |
| 22 Jun 2017 | 100124697 | Others | ₹93 Cr | Satisfied | |
| 16 Jun 2017 | 100124681 | Others | ₹93 Cr | Satisfied |
To see the full charge records of Indigrid Solar-Ii (Ap) Private Limited, buy the company report.
Total charge records: 4 View all charges
Deals & funding
Indigrid Solar-Ii (Ap) Private Limited has 3 deals on record (1 funding round, 1 secondary share transfer, 1 acquisition), with disclosed funding of ₹81 Cr; the latest was in December 2020.
Deals on record (3 of 3)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Dec 2020 | Acquisition | ₹327.36 Cr | Buyer: Indigrid Investment Managers Limited Seller: FRV Solar Holdings XI B.V. |
| Mar 2020 | Secondary share transfer | Undisclosed | Buyer: FRV Solar Holdings XI B.V & Tristan Jacobo Higuero Jimenez Seller: FRV Solar Holdings XI B.V & Jose Luis Blasco Marquino |
| Jun 2017 | Funding round | ₹81 Cr | Investors: FRV Solar Holdings XI B.V |
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Indigrid Solar-Ii (Ap) Private Limited has 1 court case on record: 1 filed by Indigrid Solar-Ii (Ap). All case is disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 1 | 0 | 0 |
Cases on record (1 of 1)
| Court | Type of case | Party | Status |
|---|---|---|---|
| Bombay High Court | Writ petition | Filed by the company against The Commissioner of Income Tax (Dispute Resolution Panel and 1 other | Disposed |
To see the full case history of Indigrid Solar-Ii (Ap) 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
Indigrid Solar-Ii (Ap) Private Limited has 9 MSME Form 1 returns on record between 2019 and 2023, listing 34 overdue payments to 4 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 (4 of 4)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| First Global Services Private Limited | |||
| Itilite Technologies Private Limited | |||
| Bdo India LLP | |||
| Bdo India LLP |
To see the full MSME payment records of Indigrid Solar-Ii (Ap) Private Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Employees & EPFO
Indigrid Solar-Ii (Ap) Private Limited has a workforce of 8 employees on its EPFO records as of Apr 02, 2024, across 1 active EPFO establishment.
GST
Indigrid Solar-Ii (Ap) has 3 GST registrations: 2 active and 1 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 37AACCF8580F1ZF | Andhra Pradesh | Active | 01 Jul 2017 |
| 27AACCF8580F1ZG | Maharashtra | Active | 20 Jan 2022 |
To see the full GST registrations and return filing status of Indigrid Solar-Ii (Ap) Private Limited, buy the company report.
Recent activity
Indigrid Solar-Ii (Ap) Private Limited has 17 board changes on record since 2016: 3 appointments and 14 cessations. The latest: Apoorv Vinodbhai Darji ceased to be Additional Director on 24 Sep 2025.
18 earlier events are in the company report.
News
Frequently asked questions
Indigrid Solar-Ii (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 09 July 2016 (10+ years old) and is registered under CIN U40106DL2016FTC325401.
Indigrid Solar-Ii (Ap) has 3 current directors:
- Apoorv Vinodbhai Darji - Director
- Ravi Swapna - Director
- Jose Luis Blasco Marquino - Body Corporte As Promoter
The latest financial statements of Indigrid Solar-Ii (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-Ii (Ap) is 37AACCF8580F1ZF, 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 27AACCF8580F1ZG (Maharashtra).
The CIN (Corporate Identification Number) of Indigrid Solar-Ii (Ap) is U40106DL2016FTC325401. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Indigrid Solar-Ii (Ap) has 1 court case on record: 1 filed by the company.
Indigrid Solar-Ii (Ap) was incorporated on 09 July 2016, making it 10+ years old. It is registered with the Registrar of Companies, Delhi.
Indigrid Solar-Ii (Ap) has 3 deals on record (1 funding round, 1 secondary share transfer, 1 acquisition), with disclosed funding of ₹81 Cr; the latest was in December 2020.
The peers of Indigrid Solar-Ii (Ap) by revenue are Clean Max Scorpius Private Limited, Magnet Buildtech Private Limited, Maheswari Mining & Energy Private Limited, Sei Kathiravan Power Private Limited, Cleanmax Ipp 1 Private Limited and 1 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-Ii (Ap) has 17 board changes on record in total.
Indigrid Solar-Ii (Ap) has 9 MSME Form 1 returns on record between 2019 and 2023, listing 34 overdue payments to 4 micro and small suppliers. The latest return was filed on 27 Oct 2023.
Indigrid Solar-Ii (Ap) can be reached through the website frv.com. Its registered office is in New Delhi, Delhi, India.
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