About Insolare Energy Limited
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Insolare Energy Limited is a public limited company based in Ahmedabad, Gujarat, India. It operates in the electric power generation segment of the energy sector. It was incorporated on 20 June 2008 and has been in existence for over 18 years.
The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN U45206GJ2008PLC155375. Its GSTIN is 24AABCI9750P1Z1 (Gujarat). The company holds 9 GST registrations, of which 3 are active.
The company has an authorised share capital of ₹30 Cr and a paid-up capital of ₹11.77 Cr. It is led by directors including Sunit Dharamveer Tyagi (Managing Director) and Hemanshu Devshankar Bhatt.
Its last annual general meeting (AGM) was held on 30 September 2024, and its latest financial statements are for the year ended 31 March 2024. The registered office is at Ahmedabad, Gujarat.
As per the financials filed for FY 2024, the company reported a revenue of ₹133.03 Cr, a decline of 47% compared to the previous year. For the same year it recorded a net profit of ₹6.23 Cr (net margin 4.7%) and EBITDA of ₹13.78 Cr (EBITDA margin 10.4%). Revenue has grown at a compounded annual rate (CAGR) of 61% over three years and 20% over five years.
The company has about 416 employees on its provident fund (EPFO) records. Its group structure includes 1 subsidiary.
As per MCA filings, the company has open charges of ₹441.17 Cr and satisfied charges of ₹14.88 Cr on record. Court records list 2 cases involving the company, including 2 filed by the company. The company has 15 deals on record (7 funding rounds, 6 secondary share transfers, 1 debt financing), with disclosed funding of ₹161.49 Cr; the latest was in March 2025. Its 4 peer companies in the Power industry (EPC, BoP and BTG), with the same principal business activity (electric power generation, transmission and distribution) are compared by revenue, 3 larger and 1 smaller; the largest is Husk Power Systems Private Limited with revenue of ₹136.53 Cr. The company has 13 MSME Form 1 returns on record between 2019 and 2024, listing 57 overdue payments to 28 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 insolare.com.
Company details
CIN history
Insolare Energy has 2 previous CINs, indicating changes in the company's corporate structure or registration details. The current CIN is U45206GJ2008PLC155375, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U45206GJ2008PLC155375 | Current |
| U45206DL2008PTC179857 | Previous |
| U45206KA2008PTC101033 | Previous |
Contact details
Insolare Energy Limited's registered office is in Ahmedabad, Gujarat. Its website is insolare.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressOffice No. 501 To 505 Altimus Nr. Blue Dart., B/H. Torrent Pharma Office Off. Ashram Road Riverfront (West), Ahmedabad, Gujarat, India – 380009
- IndustryEnergy, Electric Power Generation, Transmission And Distribution
To see the full contact details of Insolare Energy 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
Financials of Insolare Energy Limited
FY 2024 filings availableInsolare Energy Limited reported revenue of ₹133.03 Cr (down 47% YoY) for FY 2024.
Compounded Annual Growth Rate (CAGR)
Revenue fell 47% in the latest year, but over five years it has grown at a compounded annual rate (CAGR) of 20%. EBITDA rose 27% 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 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | |||||
| Other Income | |||||
| Total Revenue | ₹133.03 Cr | ||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | ₹13.78 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹6.23 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
| Metrics | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 10.4% | ||||
| Net Profit Margin | 4.7% | ||||
| 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 | |||||
To see the full financial statements and ratios of Insolare Energy Limited, buy the company report.
Board of directors of Insolare Energy Limited
Insolare Energy has 6 current directors and 10 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Hemanshu Devshankar Bhatt Also directs: Greenm Tech Private Limited, Suryaashish Tn2 Re Park Private Limited, Suryaashish Ap2 Re Park Private Limited and 3 more | Director | 07 Sep 2010 | 16 Years 1 Months | Current |
| Kaikhushru Vicaji Taraporevala Also directs: Sang Infotech Private Limited | Director | 01 Oct 2021 | 5 Years 0 Months | Current |
| Gajanan Vithal Gandhe Also directs: Goodyear India Limited, Minda Corporation Limited | Additional Director | 26 Dec 2024 | 1 Years 10 Months | Current |
| Pooja Bahry | Additional Director | 23 Jan 2025 | 1 Years 9 Months | Current |
| Navashil Vinayak Sharma Also directs: Solberry Energy Private Limited, Greenm Tech Private Limited, Suryaashish Tn2 Re Park Private Limited and 5 more | Director | 28 Sep 2013 | 13 Years 1 Months | Current |
| Sunit Dharamveer Tyagi Also directs: Solberry Energy Private Limited, Greenm Tech Private Limited, Suryaashish Tn2 Re Park Private Limited and 5 more | Managing Director | 01 Oct 2009 | 17 Years 0 Months | Current |
Peer comparison
Insolare Energy Limited is compared with the 4 companies closest to it by revenue in the Power industry (EPC, BoP and BTG), 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 |
|---|---|---|---|---|---|---|
| Husk Power Systems Private Limited | ₹136.53 Cr (FY 2025) | 93.0% | New Delhi, Delhi, India | |||
| Progen Renewables Limited | ₹134.73 Cr (FY 2025) | 21.0% | Coimbatore, Tamil Nadu, India | |||
| Khavda-Bhuj Transmission Limited | ₹134.46 Cr (FY 2025) | 861.0% | New Delhi, Delhi, India | |||
| Insolare Energy Limitedthis company | ₹133.03 Cr (FY 2024) | ₹6.23 Cr | 4.7% | -47.0% | 416 | Ahmedabad, Gujarat, India |
| Teravon Green Energies Limited | ₹132.7 Cr (FY 2025) | 250.0% | Vadodara, Gujarat, India |
To see the full peer comparison of Insolare Energy Limited, buy the company report.
Auditor
Insolare Energy Limited is audited by M/s Shreekant S Shah & Co. for the financial year 2024.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| M/s Shreekant S Shah & Co. | FY 2024 | 110177W |
Shareholding
The shareholding of Insolare Energy 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) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Insolare Energy Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 10 Oct 2025 | 101183387 | Sbicap Trustee Company Limited | ₹65 Cr | Open | |
| 30 Sep 2025 | 101167085 | Others | ₹125 Cr | Open | |
| 30 Sep 2025 | 101173611 | Others | ₹10 Cr | Open | |
| 22 Sep 2025 | 101169225 | Others | ₹15 Cr | Open | |
| 27 Mar 2025 | 101075598 | Yes Bank Limited | ₹25 Cr | Open |
To see the full charge records of Insolare Energy Limited, buy the company report.
Total charge records: 21 View all charges
Deals & funding
Insolare Energy Limited has 15 deals on record (7 funding rounds, 6 secondary share transfers, 1 debt financing), with disclosed funding of ₹161.49 Cr; the latest was in March 2025.
Deals on record (5 of 15)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2025 | Secondary share transfer | Undisclosed | Buyer: Unitycapital Advisors LLP , 3 individuals Seller: 4 individuals |
| Jan 2025 | Funding round | ₹88.43 Cr | Investors: Anchorage Capital Partners, Negen Undiscovered Value Fund, Khazana Tradelinks Private Limited |
| Mar 2024 | Secondary share transfer | Undisclosed | Buyer: Prabodh Gupta Huf, 3 individuals Seller: GJNX Ventures, 2 individuals |
| Feb 2024 | Funding round | ₹66.61 Cr | Investors: Khazana Tradelinks Private Limited , Anchorage Capital Partners, Negen Undiscovered Value Fund, an individual |
| Jan 2024 | Funding round | ₹6 Cr | Investors: Hitech Matrix Servives LLP |
To see the full deal history of Insolare Energy 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
Insolare Energy Limited has 2 court cases on record: 2 filed by Insolare Energy. All cases are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 2 | 0 | 0 |
Cases on record (2 of 2)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, South, Delhi | Court case (OMP (I) (COMM.)) | Filed by the company against Sun Renewables RT Pvt Ltd | Disposed |
| District court, South, Delhi | Arbitration matter | Filed by the company against Sun Renewables RT Pvt Ltd | Disposed |
To see the full case history of Insolare Energy 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
Insolare Energy Limited has 13 MSME Form 1 returns on record between 2019 and 2024, listing 57 overdue payments to 28 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 28)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Meissa Technologies Private Limited | |||
| Surya Solar Infra | |||
| Samarth Vibrocast Pipe Industries | |||
| an individual supplier | |||
| an individual supplier |
To see the full MSME payment records of Insolare Energy Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Group structure & subsidiaries
Insolare Energy has 1 subsidiary company. This group structure data is as of FY 2023. The table lists each entity with its relationship and holding.
| Company Name | CIN | Shares held |
|---|---|---|
| Ashwamedha Kar Solar Park Private Limited | U40200KA2022PTC168388 |
To see the full group structure of Insolare Energy Limited, buy the company report.
Employees & EPFO
Insolare Energy Limited has a workforce of 416 employees on its EPFO records as of Dec 15, 2025, across 1 active EPFO establishment.
GST
Insolare Energy has 9 GST registrations: 3 active and 6 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 24AABCI9750P1Z1 | Gujarat | Active | 01 Jul 2017 |
| 24AABCI9750P2Z0 | Gujarat | Active | 01 Dec 2025 |
| 29AABCI9750P1ZR | Karnataka | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Insolare Energy Limited, buy the company report.
Recent activity
Insolare Energy Limited has 16 board changes on record since 2009: 7 appointments and 9 cessations. The latest: Pooja Bahry was appointed as Additional Director on 23 Jan 2025.
41 earlier events are in the company report.
News
Frequently asked questions
Insolare Energy is an active public limited company based in Ahmedabad, Gujarat, India. The company works in electric power generation, within the energy industry. It was incorporated on 20 June 2008 (18+ years old) and is registered under CIN U45206GJ2008PLC155375.
Insolare Energy has 6 current directors:
- Sunit Dharamveer Tyagi - Managing Director
- Hemanshu Devshankar Bhatt - Director
- Kaikhushru Vicaji Taraporevala - Director
- Gajanan Vithal Gandhe - Additional Director
- Pooja Bahry - Additional Director
- Navashil Vinayak Sharma - Director
The latest financial statements of Insolare Energy on record with the MCA are for the year ended 31 March 2024. Its last annual general meeting was held on 30 September 2024. Year-wise statements from 2015 are in the company report.
The GSTIN of Insolare Energy is 24AABCI9750P1Z1, registered in Gujarat. The company has 9 GST registrations in all, of which 3 are active and 6 are cancelled or inactive. Other active GSTINs include 24AABCI9750P2Z0 (Gujarat), 29AABCI9750P1ZR (Karnataka).
The CIN (Corporate Identification Number) of Insolare Energy is U45206GJ2008PLC155375. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Insolare Energy has 2 court cases on record: 2 filed by the company.
Insolare Energy was incorporated on 20 June 2008, making it 18+ years old. It is registered with the Registrar of Companies, Ahmedabad.
Insolare Energy has 15 deals on record (7 funding rounds, 6 secondary share transfers, 1 debt financing), with disclosed funding of ₹161.49 Cr; the latest was in March 2025.
The peers of Insolare Energy by revenue are Husk Power Systems Private Limited, Progen Renewables Limited, Khavda-Bhuj Transmission Limited, Teravon Green Energies Limited, all in the Power industry (EPC, BoP and BTG), with the same principal business activity (electric power generation, transmission and distribution).
Pooja Bahry was appointed as Additional Director on 23 Jan 2025. Gajanan Vithal Gandhe was appointed as Additional Director on 26 Dec 2024. Bhavesh Agal was appointed as Company Secretary on 24 Sep 2024. Insolare Energy has 16 board changes on record in total.
Insolare Energy has 13 MSME Form 1 returns on record between 2019 and 2024, listing 57 overdue payments to 28 micro and small suppliers. The latest return was filed on 29 Apr 2024.
Insolare Energy can be reached through the website insolare.com. Its registered office is in Ahmedabad, Gujarat, India.