About Madhav Solar Private Limited
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Madhav Solar Private Limited is a private limited company based in Ahmedabad, Gujarat, India, a subsidiary of Waa Solar Limited. It operates in the wind energy solutions segment of the environmental services sector. It was incorporated on 13 August 2013 and has been in existence for over 13 years.
The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN U40106GJ2013PTC076409. Its GSTIN is 24AAICM7667A1ZH (Gujarat). The company holds 2 GST registrations, all of them active.
The company has an authorised share capital of ₹12 Cr and a paid-up capital of ₹9.6 Cr. It is led by directors Jayprakash Laxmichand Bajaj and Kishor Pranjivandas Mandalia.
Its last annual general meeting (AGM) was held on 28 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 2025, the company reported a revenue of ₹4,554.3 Cr, reflecting significant growth compared to the previous year. For the same year it recorded a net profit of ₹37.95 Cr (net margin 0.8%) and EBITDA of ₹44.74 Cr (EBITDA margin 1%). Revenue has grown at a compounded annual rate (CAGR) of 825% over three years and 268% over five years.
As per MCA filings, the company has open charges of ₹18 Cr and satisfied charges of ₹22.38 Cr on record. Court records list 3 cases involving the company, including 3 filed by the company; 3 cases are pending.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website madhavcorp.com.
Company details
Contact details
Madhav Solar Private Limited's registered office is in Ahmedabad, Gujarat. Its website is madhavcorp.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressZaveri House Third Floor Sanidhya, Opp. Planet Landmark Hotel Bopal – Ambli Road, Ahmedabad, Gujarat, India – 380058
- IndustryEnvironment, Wind Energy Solutions, Solar Energy Solutions
To see the full contact details of Madhav Solar 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 activities of Madhav Solar are electricity, gas, steam and air condition supply and trade. In detail, this covers electric power generation, transmission and distribution and wholesale trading. 2 activity segments are registered with the MCA.
| 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 | |
| G | Trade | G1 | Wholesale Trading |
To see the full business activity and turnover split of Madhav Solar Private Limited, buy the company report.
Financials of Madhav Solar Private Limited
FY 2024 filings availableMadhav Solar Private Limited reported revenue of ₹4,554.3 Cr (up 32293% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue has grown at a compounded annual rate (CAGR) of 268% over five years. EBITDA rose 829% 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 | ₹44.74 Cr | ||||
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| Net Profit (PAT) | ₹37.95 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 | 1% | ||||
| Net Profit Margin | 0.8% | ||||
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To see the full financial statements and ratios of Madhav Solar Private Limited, buy the company report.
Board of directors of Madhav Solar Private Limited
Madhav Solar has 2 current directors and 6 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Jayprakash Laxmichand Bajaj Also directs: Amazo Infrastructure LLP, Myspace Infra Projects LLP, Madhav Renewables Private Limited and 5 more | Director | 18 Apr 2019 | 7 Years 6 Months | Current |
| Kishor Pranjivandas Mandalia Also directs: Safal Homes LLP, Amazo Projects LLP, Zaveri Infracon Limited Liability Partnership and 5 more | Director | 14 Apr 2019 | 7 Years 6 Months | Current |
Auditor
Madhav Solar Private Limited is audited by B C M ASSOCIATES for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| B C M ASSOCIATES | FY 2023 | 100808W |
Shareholding
The shareholding of Madhav Solar 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) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Madhav Solar Private Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 31 Jan 2025 | 101045999 | Others | ₹18 Cr | Open | |
| 28 Mar 2014 | 10486994 | Idbi Bank Limited | ₹22.38 Cr | Satisfied |
To see the full charge records of Madhav Solar Private Limited, buy the company report.
Total charge records: 2 View all charges
Legal cases
Madhav Solar Private Limited has 3 court cases on record: 3 filed by Madhav Solar. All cases are pending.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 3 | 0 | 3 |
Cases on record (3 of 3)
| Court | Type of case | Party | Status |
|---|---|---|---|
| Bombay High Court | Writ petition | Filed by the company against The Commissioner of Customs Air Cargo | Pending |
| Madras High Court | Writ petition | Filed by the company against The Deputy Commissioner of Customs | Pending |
| High Court of Punjab and Haryana | Writ petition | Filed by the company against State of Punjab and Others | Pending |
To see the full case history of Madhav Solar 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 Madhav Solar Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
GST
Madhav Solar has 2 GST registrations: 2 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 24AAICM7667A1ZH | Gujarat | Active | 08 Jul 2019 |
| 03AAICM7667A1ZL | Punjab | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Madhav Solar Private Limited, buy the company report.
Recent activity
Madhav Solar Private Limited has 7 board changes on record since 2019: 2 appointments and 5 cessations. The latest: Amit Khurana Ashok ceased to be Director on 08 Jan 2020.
2 earlier events are in the company report.
News
Frequently asked questions
Madhav Solar is an active private limited company based in Ahmedabad, Gujarat, India. The company works in wind energy solutions, within the environment industry. It was incorporated on 13 August 2013 (13+ years old) and is registered under CIN U40106GJ2013PTC076409.
Madhav Solar has 2 current directors:
- Jayprakash Laxmichand Bajaj - Director
- Kishor Pranjivandas Mandalia - Director
The latest financial statements of Madhav Solar on record with the MCA are for the year ended 31 March 2024. Its last annual general meeting was held on 28 September 2024. Year-wise statements from 2015 are in the company report.
The GSTIN of Madhav Solar is 24AAICM7667A1ZH, registered in Gujarat. The company has 2 GST registrations in all, of which 2 are active. Other active GSTINs include 03AAICM7667A1ZL (Punjab).
The CIN (Corporate Identification Number) of Madhav Solar is U40106GJ2013PTC076409. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Madhav Solar has 3 court cases on record: 3 filed by the company. 3 are pending.
Madhav Solar was incorporated on 13 August 2013, making it 13+ years old. It is registered with the Registrar of Companies, Ahmedabad.
Amit Khurana Ashok ceased to be Director on 08 Jan 2020. Ashwin Pravinbhai Kayasth ceased to be Director on 08 Jan 2020. Jayprakash Laxmichand Bajaj ceased to be Additional Director on 28 Sep 2019. Madhav Solar has 7 board changes on record in total.
Madhav Solar can be reached through the website madhavcorp.com. Its registered office is in Ahmedabad, Gujarat, India.
The registered office of Madhav Solar is at Zaveri House Third Floor Sanidhya, Opp. Planet Landmark Hotel Bopal – Ambli Road, Ahmedabad, Gujarat, India – 380058.
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