MSME (Udyam registered) Ministry of MSME
- Category
- Medium (2024-25)
- Udyam number
- UDYAM-MH-18-0190784
Mahindra Solarize Private Limited - environment in Mumbai, Maharashtra, India. FY 2026 financials & compliance.
Revenue · FY 2023
₹177.16 Cr
▲ 9% YoY
Authorised capital
₹42 Cr
Registered with MCA
Paid-up capital
₹40.21 Cr
Issued & subscribed
Open charges
₹175 Cr
Secured borrowings
Company age
5 yrs
Est. 2021
Employees · EPFO
69
Provident fund records
Directors on board
3
As per MCA filings
Active GSTINs
13
GST registered
About Mahindra Solarize Private Limited
Data last updated:
Mahindra Solarize Private Limited is a private limited company based in Mumbai, Maharashtra, India, a subsidiary of Mahindra Sustainable Energy Private Limited. It operates in the solar energy solutions segment of the environmental services sector. It was incorporated on 06 April 2021 and has been in existence for over 5 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U40106MH2021PTC358435. Its GSTIN is 27AAOCM4850B1ZG (Maharashtra). The company holds 13 GST registrations, all of them active.
The company has an authorised share capital of ₹42 Cr and a paid-up capital of ₹40.21 Cr. It is led by directors including Ami Goda and Avinash Prabhakar Rao.
Its last annual general meeting (AGM) was held on 15 July 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Mahindra Towers Pandurang Budhkar Marg Nr. Doordarshan Kendra Worli, Mumbai, Maharashtra, India – 400018.
As per the financials filed for FY 2023, the company reported a revenue of ₹177.16 Cr, a growth of 9% compared to the previous year.
The company has about 69 employees on its provident fund (EPFO) records. Its group structure includes 1 subsidiary.
The company is associated with 1 brand: Mahindra Solarize. As per MCA filings, the company has open charges of ₹175 Cr on record. Court records list 1 case involving the company; 1 case is pending. The company has 3 deals on record (2 rights issues, 1 secondary share transfer); the latest was in August 2025. Its 10 peer companies in the Cleantech industry (Solar Power) are compared by revenue, 5 larger and 5 smaller; the largest is Sprng Solar India Private Limited with revenue of ₹183.88 Cr. The company has 2 MSME Form 1 returns on record between 2023 and 2024, listing 11 overdue payments to 5 micro and small suppliers.
Mahindra Solarize Private Limited is registered as a medium enterprise under the Udyam registration framework (Reg. No. UDYAM-MH-18-0190784). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website mahindrasolarize.com.
Company Details of Mahindra Solarize Private Limited
CIN U40106MH2021PTC358435
Registration Number 358435
Incorporation Date 06 April 2021
ROC Mumbai
Listing Status Unlisted
Company Status Active
Date of Last AGM 15 July 2025
Date of Balance Sheet 31 March 2025
Parent Company Mahindra Sustainable Energy Private Limited
Compliance Status Active Compliant
MSME Classification Medium
Udyam Registration UDYAM-MH-18-0190784
Recognitions & Rankings of Mahindra Solarize
Contact Details
- EmailLocked
- TelephoneLocked
- Website
- Social Media
- Registered AddressMahindra Towers Pandurang Budhkar Marg Nr. Doordarshan Kendra Worli, Mumbai, Maharashtra, India – 400018
- IndustryEnvironment, Solar Energy Solutions
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Associated Brands with Mahindra Solarize Private Limited
Mahindra Solarize operates one associated brand: Mahindra Solarize. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Offers solar rooftop and water pump solutions for sustainable energy needs. | mahindrasolarize.com |
Business Activity of Mahindra Solarize Private Limited
The main business activity of Mahindra Solarize is construction. In detail, this covers demolition & site preparation, electrical, plumbing & other specialized construction activities.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| F | Construction | F3 | Demolition & site preparation, Electrical, plumbing & other Specialized construction Activities | Locked |
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Business activity turnover details
Turnover share and past changes in activity are in the company report.
- Turnover contribution
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Financials of Mahindra Solarize Private Limited FY 2025 filings available
Mahindra Solarize Private Limited reported revenue of ₹177.16 Cr (up 9% YoY) for FY 2023.
Revenue · FY 2023
₹177.16 Cr ▲ 9%
Compounded Annual Growth Rate (CAGR) of Mahindra Solarize Private Limited
Revenue CAGR growth
1 year
▲ 9%
Revenue rose 9% in the latest year. All are worked out from the filed statements.
Financial Statement Summary of Mahindra Solarize Private Limited
| Metrics | FY 2022-23 | FY 2021-22 |
|---|---|---|
| Profit and Loss Statement | ||
| Revenue from Operations | •••• | •••• |
| Other Income | •••• | •••• |
| Total Revenue | ₹177.16 Cr | •••• |
| Cost of Materials Consumed | •••• | •••• |
| Employee Benefit Expense | •••• | •••• |
| Finance Costs | •••• | •••• |
| Depreciation and Amortisation | •••• | •••• |
| Other Expenses | •••• | •••• |
| Total Expenses | •••• | •••• |
| EBITDA | •••• | •••• |
| Profit Before Tax | •••• | •••• |
| Tax Expense | •••• | •••• |
| Net Profit (PAT) | •••• | •••• |
| 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 of Mahindra Solarize Private Limited
| Metrics | FY 2022-23 | FY 2021-22 |
|---|---|---|
| Profitability | ||
| EBITDA Margin | •••• | •••• |
| Net Profit Margin | •••• | •••• |
| 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 | •••• | •••• |
Paid data: the figures shown as dots are available after purchase of the company report. Figures as filed with the MCA in Form AOC-4. The full year-wise statements and ratios of Mahindra Solarize are in the company report.
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Financial statements from FY 2022
Earlier years and trend charts are in the company report.
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Verified entity values are shown only after access is granted.
Board of Directors of Mahindra Solarize Private Limited
Mahindra Solarize has 3 current directors and 12 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Ami Goda Also directs: Mahindra Solarize Private Limited, Mahindra Epc Irrigation Limited, Mahindra Agri Solutions Limited and 3 more | Director | 20 Jun 2023 | 3 Years 3 Months | Current |
| Avinash Prabhakar Rao Also directs: Mahindra Teqo Private Limited, Mahindra Sustainable Energy Private Limited, Resurgence Solarize Urja Private Limited and 3 more | Director | 15 Oct 2025 | 1 Years 0 Months | Current |
| Rakesh Khaitan Also directs: Mahindra Solarize Private Limited, Mahindra Susten Private Limited, Illuminate Hybren Private Limited and 5 more | Director | 26 Aug 2025 | 1 Years 1 Months | Current |
Peer Comparison of Mahindra Solarize Private Limited
Mahindra Solarize Private Limited is compared with the companies closest to it by revenue in the Cleantech industry (Solar Power). Net profit, margin and employee counts of each company are in the company report.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Sprng Solar India Private Limited | ₹183.88 Cr (FY 2025) | •••• | •••• | -5.0% | •••• | New Delhi, Delhi, India |
| Emergent Solren Private Limited | ₹181.38 Cr (FY 2025) | •••• | •••• | 4.0% | •••• | Mumbai, Maharashtra, India |
| Karnataka Solar Power Development Corporation Limited | ₹180.03 Cr (FY 2025) | •••• | •••• | 6.0% | •••• | Bangalore, Karnataka, India |
| Ayana Renewable Power One Private Limited | ₹178.62 Cr (FY 2025) | •••• | •••• | -4.0% | •••• | Bangalore, Karnataka, India |
| Gentari Renewables Finnsurya Energy Private Limited | ₹177.66 Cr (FY 2025) | •••• | •••• | -5.0% | •••• | Gurgaon, Haryana, India |
| Mahindra Solarize Private Limited this company | ₹177.16 Cr (FY 2023) | •••• | •••• | 9.0% | •••• | Mumbai, Maharashtra, India |
| Acme Aklera Power Technology Private Limited | ₹174.73 Cr (FY 2025) | •••• | •••• | 107.0% | •••• | Gurugram, Haryana, India |
| Adani Solar Energy Ap Seven Private Limited | ₹174.05 Cr (FY 2025) | •••• | •••• | 4.0% | •••• | Ahmedabad, Gujarat, India |
| Clean Solar Power (Gulbarga) Private Limited | ₹173.15 Cr (FY 2025) | •••• | •••• | 1.0% | •••• | New Delhi, Delhi, India |
| Beempow Energy Private Limited | ₹173.01 Cr (FY 2025) | •••• | •••• | 258124.0% | •••• | New Delhi, Delhi, India |
| Thar Surya 1 Private Limited | ₹172.27 Cr (FY 2024) | •••• | •••• | 45.0% | •••• | Gurugram, Haryana, India |
Peers are the five companies nearest above and the five nearest below Mahindra Solarize by revenue in the Cleantech industry (Solar Power), from the latest filed financials of each company. Net profit, margin and employee counts of each peer are in the company report.
Auditor Details of Mahindra Solarize Private Limited
Mahindra Solarize Private Limited is audited by Mukund M. Chitale & Co. for the financial year 2023.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| Mukund M. Chitale & Co. | Locked | Locked | Locked |
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Complete auditor history
Appointment and cessation dates and past auditor changes are in the company report.
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Ownership and Shareholding of Mahindra Solarize Private Limited
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Shareholding and ownership data
Promoter, institutional, public and beneficial ownership figures are in the company report.
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Charges & Borrowings of Mahindra Solarize Private Limited
Open charges
₹175 Cr
Satisfied charges
None
Breakdown by lending institutions
Latest charge details
| Date | Lender | Amount | Status |
|---|---|---|---|
| 11 Jan 2023 | Axis Bank Limited | ₹75 Cr | Open |
| 30 Dec 2021 | Others | ₹100 Cr | Open |
Total charge records: 2 View all charges
Deals & Funding of Mahindra Solarize Private Limited
Mahindra Solarize Private Limited has 3 deals on record (2 rights issues, 1 secondary share transfer); the latest was in August 2025.
Total deals
3
Rights issues
2
Secondary share transfer
1
Deals on record (3 of 3)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Aug 2025 | Rights issue | ₹4.82 Cr | Investors: Mahindra Sustainable Energy Private Limited |
| Mar 2022 | Rights issue | ₹35.34 Cr | Investors: Mahindra Sustainable Energy Private Limited |
| Mar 2022 | Secondary share transfer | Undisclosed | Buyer: Mahindra Telecom Energy Management Services Private Limited & Brijbala Batwal, Mahindra Telecom Energy Management Services Private Limited & Anita Halbe, Mahindra Telecom Energy Management Services Private Limited & Narayan Shankar Seller: Mahindra Susten Private Limited & Sumeet Maheshwari, Mahindra Susten Private Limited , Mahindra Susten Private Limited & Anita Halbe |
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Full deal history
All 3 deals with amounts, valuations, instruments and every party are in the company report.
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Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal Cases of Mahindra Solarize Private Limited
Mahindra Solarize Private Limited has 1 court case on record: 1 where it is another party. All case is pending. Status as checked on 02 Oct 2026.
Total cases
1
Pending
1
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 1 | 0 | 1 |
Cases on record (1 of 1)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Nagpur, Maharashtra | Court case (Sum.Civ.Suit) | Company is another party | Pending |
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Full case history
All 1 cases with case numbers, court, year-wise trend, opposite parties and decision dates are in the company report.
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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 by Mahindra Solarize Private Limited
Mahindra Solarize Private Limited has 2 MSME Form 1 returns on record between 2023 and 2024, listing 11 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 |
|---|---|---|---|
| an individual supplier | •••• | •••• | •••• |
| an individual supplier | •••• | •••• | •••• |
| Winsol Renewable Solutions | •••• | •••• | •••• |
| an individual supplier | •••• | •••• | •••• |
| Abhimanhan Energy Private Limited | •••• | •••• | •••• |
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Full MSME payment history
Every supplier, amount and due date from all 2 MSME Form 1 returns is in the company report.
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Verified entity values are shown only after access is granted.
Individuals and sole proprietors among the suppliers are not named. Amounts, due dates and filing dates are in the company report.
Employees and EPFO Compliance at Mahindra Solarize Private Limited
Mahindra Solarize Private Limited has a workforce of 69 employees as of Mar 31, 2024.
Employee count
69
Active EPFO establishments
1
Employee growth
6.15%
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Employee and EPFO history
Monthly headcount, contribution history and filing status are in the company report.
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Group Structure of Mahindra Solarize Private Limited
Mahindra Solarize has 1 subsidiary company. This group structure data is as of FY 2023. The table lists each entity with its relationship and holding.
1
Subsidiary companies
Key Subsidiaries
| Company Name | CIN | Shares Held |
|---|---|---|
| Resurgence Solarize Urja Private Limited | U40106MH2022PTC389552 | Locked |
Showing major subsidiaries. Total: 1.
Recent Activity on Mahindra Solarize Private Limited
Mahindra Solarize Private Limited has 23 board changes on record since 2021: 13 appointments and 10 cessations. The latest: Isha Dalal ceased to be Director on 10 Nov 2025.
Ceased
Isha Dalal ceased to be Director.
Appointed
Avinash Prabhakar Rao was appointed as Director.
Appointed
Rakesh Khaitan was appointed as Director.
Ceased
Deepaksingh Chandrasingh Thakur ceased to be Director.
AGM
Mahindra Solarize Private Limited last Annual general meeting of members was held on 15 Jul 2025 as per latest MCA records.
Ceased
Kothandaraman Anusha ceased to be Director.
Ceased
Sanjay Jain ceased to be CEO.
Ceased
Hemant Sikka ceased to be Director.
Filing
Mahindra Solarize Private Limited has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Mumbai.
Appointed
Isha Dalal was appointed as Director.
Ceased
Bharat Goenka ceased to be Director.
Charges
A charge with Others of Rs. 100.00 Cr registered on 30 Dec 2021 with Charge ID 100526186 was modified on 29 Jul 2024.
18 earlier events are listed in the company report.
Credit Ratings, Litigation & Regulatory Alerts for Mahindra Solarize Private Limited
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Credit ratings, litigation, and regulatory alerts
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Subsidiaries & Group Companies of Mahindra Solarize Private Limited
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Corporate group structure
Parent, subsidiary, associate and joint venture records with holdings are in the company report.
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GST Compliance of Mahindra Solarize Private Limited
Mahindra Solarize has 13 GST registrations: 13 active. The first 4 active GSTINs are listed below.
Total GSTINs
13
Active
13
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAOCM4850B1ZG | Maharashtra | Active | 05 May 2021 |
| 22AAOCM4850B1ZQ | Chhattisgarh | Active | 08 May 2021 |
| 37AAOCM4850B1ZF | Andhra Pradesh | Active | 20 Jun 2021 |
| 24AAOCM4850B1ZM | Gujarat | Active | 30 Jun 2021 |
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GST registrations and filing compliance
State-wise GST registrations, return filing status and HSN or SAC codes are in the company report.
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MCA Filings & Documents of Mahindra Solarize Private Limited
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MCA filings and documents
Filed forms, annual returns, financial statements and charge filings with their dates are in the company report.
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Related news about Mahindra Solarize Private Limited
Frequently Asked Questions about Mahindra Solarize Private Limited
Mahindra Solarize is an active private limited company based in Mumbai, Maharashtra, India. The company works in solar energy solutions, within the environment industry. It was incorporated on 06 April 2021 (5+ years old) and is registered under CIN U40106MH2021PTC358435.
Mahindra Solarize reported revenue of ₹177.16 Cr for FY 2023 (up 9% YoY).
Mahindra Solarize has 3 current directors:
- Ami Goda - Director
- Avinash Prabhakar Rao - Director
- Rakesh Khaitan - Director
The GSTIN of Mahindra Solarize is 27AAOCM4850B1ZG, registered in Maharashtra. The company has 13 GST registrations in all, of which 13 are active. Other active GSTINs include 22AAOCM4850B1ZQ (Chhattisgarh), 37AAOCM4850B1ZF (Andhra Pradesh), 24AAOCM4850B1ZM (Gujarat).
The CIN (Corporate Identification Number) of Mahindra Solarize is U40106MH2021PTC358435. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Mahindra Solarize has 1 court case on record. 1 is pending.
Mahindra Solarize was incorporated on 06 April 2021, making it 5+ years old. It is registered with the Registrar of Companies, Mumbai.
Mahindra Solarize has 3 deals on record (2 rights issues, 1 secondary share transfer); the latest was in August 2025.
The peers of Mahindra Solarize by revenue are Sprng Solar India Private Limited, Emergent Solren Private Limited, Karnataka Solar Power Development Corporation Limited, Ayana Renewable Power One Private Limited, Gentari Renewables Finnsurya Energy Private Limited and 5 more, all in the Cleantech industry (Solar Power).
Isha Dalal ceased to be Director on 10 Nov 2025. Avinash Prabhakar Rao was appointed as Director on 15 Oct 2025. Rakesh Khaitan was appointed as Director on 26 Aug 2025. Mahindra Solarize has 23 board changes on record in total.
Yes, Mahindra Solarize is registered as a medium enterprise under Udyam registration (number: UDYAM-MH-18-0190784).
Mahindra Solarize has 2 MSME Form 1 returns on record between 2023 and 2024, listing 11 overdue payments to 5 micro and small suppliers. The latest return was filed on 30 Apr 2024.