MSME (Udyam registered) Ministry of MSME
- Category
- Small (2024-25)
- Udyam number
- UDYAM-MH-19-0042185
Maxwell Energy Systems Private Limited - energy and power in Pune, Maharashtra, India. FY 2026 financials & compliance.
Revenue · FY 2025
₹70.02 Cr
▲ 11% YoY
Net loss · FY 2025
₹16.81 Cr
Net margin -24%
EBITDA · FY 2025
-₹6.69 Cr
EBITDA margin -9.6%
Authorised capital
₹5 Lakh
Registered with MCA
Paid-up capital
₹1.37 Lakh
Issued & subscribed
Open charges
₹15 Cr
Secured borrowings
Company age
9 yrs
Est. 2017
Employees · EPFO
115
Provident fund records
About Maxwell Energy Systems Private Limited
Data last updated:
Maxwell Energy Systems Private Limited is a private limited company based in Pune, Maharashtra, India, a subsidiary of Ion Energy Inc. Usa. It operates in the power equipment manufacturers segment of the energy and power sector. It was incorporated on 23 August 2017 and has been in existence for over 9 years.
The company is registered with the Registrar of Companies (ROC), Pune, under CIN U72900PN2017PTC243326. Its GSTIN is 27AALCM2811R1ZX (Maharashtra). The company holds 2 GST registrations, all of them active.
The company has an authorised share capital of ₹5 Lakh and a paid-up capital of ₹1.37 Lakh. It is led by directors including Muralikrishna Giddaluru and Jignesh Gandhi.
Its last annual general meeting (AGM) was held on 15 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Pune, Maharashtra.
As per the financials filed for FY 2025, the company reported a revenue of ₹70.02 Cr, a growth of 11% compared to the previous year. For the same year it recorded a net loss of ₹16.81 Cr (net margin -24%) and EBITDA of -₹6.69 Cr (EBITDA margin -9.6%). Revenue has grown at a compounded annual rate (CAGR) of 53% over three years and 60% over five years.
The company has about 115 employees on its provident fund (EPFO) records.
The company is associated with 2 brands: Ion Energy Labs and Maxwell Energy Systems. As per MCA filings, the company has open charges of ₹15 Cr on record. The company has 5 deals on record (3 secondary share transfers, 1 rights issue, 1 funding round), with disclosed funding of ₹71.5 Cr; the latest was in July 2024. Its 10 peer companies in the Power industry (Power Equipment Manufacturers) are compared by revenue, 5 larger and 5 smaller; the largest is Electro Waves Electronics Private Limited with revenue of ₹70.92 Cr. The company has 7 MSME Form 1 returns on record between 2019 and 2023, listing 106 overdue payments to 19 micro and small suppliers.
Maxwell Energy Systems Private Limited is registered as a small enterprise under the Udyam registration framework (Reg. No. UDYAM-MH-19-0042185). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website ionenergy.co.
Company Details of Maxwell Energy Systems Private Limited
CIN U72900PN2017PTC243326
Registration Number 243326
Incorporation Date 23 August 2017
ROC Pune
Listing Status Unlisted
Company Status Active
Date of Last AGM 15 September 2025
Date of Balance Sheet 31 March 2025
Parent Company Ion Energy Inc. Usa
Compliance Status Active Compliant
MSME Classification Small
Udyam Registration UDYAM-MH-19-0042185
CIN History of Maxwell Energy Systems Private Limited
Maxwell Energy Systems has one previous CIN (Corporate Identification Number): U72900MH2017PTC298930. The current CIN is U72900PN2017PTC243326, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U72900PN2017PTC243326 | Current |
| U72900MH2017PTC298930 | Previous |
Recognitions & Rankings of Maxwell Energy Systems
Contact Details
- EmailLocked
- TelephoneLocked
- WebsiteLocked
- Social Media
- Registered AddressS. No. 218 Solitaire Office No. 5, Kalyani Nagar, Pune, Maharashtra, India – 411006
- IndustryEnergy and Power, Power Equipment Manufacturers
Comprehensive company report
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Associated Brands with Maxwell Energy Systems Private Limited
Maxwell Energy Systems operates two associated brands: Ion Energy Labs and Maxwell Energy Systems. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Battery intelligence platform for utility-scale energy storage systems is developed. | ionenergy.co | |
| Battery management systems for electric vehicles are developed and supplied. | maxwellenergy.co |
Business Activity of Maxwell Energy Systems Private Limited
The main business activity of Maxwell Energy Systems is professional, scientific and technical. In detail, this covers other professional, scientific and technical activities.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| M | Professional, Scientific and Technical | M9 | Other professional, scientific and technical activities | Locked |
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Business activity turnover details
Turnover share and past changes in activity are in the company report.
- Turnover contribution
- Historical classifications
- Filing-level activity changes
Verified entity values are shown only after access is granted.
Financials of Maxwell Energy Systems Private Limited FY 2025 filings available
Maxwell Energy Systems Private Limited reported revenue of ₹70.02 Cr (up 11% YoY) for FY 2025.
Revenue · FY 2025
₹70.02 Cr ▲ 11%
Net loss · FY 2025
₹16.81 Cr margin -24%
EBITDA · FY 2025
-₹6.69 Cr margin -9.6%
Compounded Annual Growth Rate (CAGR) of Maxwell Energy Systems Private Limited
Revenue CAGR growth
1 year
▲ 11%
3 years · compounded
▲ 53%
5 years · compounded
▲ 60%
EBITDA CAGR growth
1 year
▲ 43%
3 years · compounded
▼ 150%
5 years · compounded
▼ 146%
Revenue has grown at a compounded annual rate (CAGR) of 60% over five years, including 11% growth in the latest year. EBITDA rose 43% 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 of Maxwell Energy Systems Private Limited
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | •••• | •••• | •••• | •••• | •••• |
| Other Income | •••• | •••• | •••• | •••• | •••• |
| Total Revenue | •••• | •••• | •••• | •••• | •••• |
| Cost of Materials Consumed | •••• | •••• | •••• | •••• | •••• |
| Employee Benefit Expense | •••• | •••• | •••• | •••• | •••• |
| Finance Costs | •••• | •••• | •••• | •••• | •••• |
| Depreciation and Amortisation | •••• | •••• | •••• | •••• | •••• |
| Other Expenses | •••• | •••• | •••• | •••• | •••• |
| Total Expenses | •••• | •••• | •••• | •••• | •••• |
| EBITDA | -₹6.69 Cr | •••• | •••• | •••• | •••• |
| Profit Before Tax | •••• | •••• | •••• | •••• | •••• |
| Tax Expense | •••• | •••• | •••• | •••• | •••• |
| Net Profit (PAT) | -₹16.81 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 of Maxwell Energy Systems Private Limited
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | -9.6% | •••• | •••• | •••• | •••• |
| Net Profit Margin | -24% | •••• | •••• | •••• | •••• |
| 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 Maxwell Energy Systems are in the company report.
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Financial statements from FY 2018
Earlier years and trend charts are in the company report.
- Income statements
- Balance sheets
- Cash-flow statements
- Ratios and benchmarks
Verified entity values are shown only after access is granted.
Board of Directors of Maxwell Energy Systems Private Limited
Maxwell Energy Systems has 3 current directors and 6 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Muralikrishna Giddaluru | Director | 04 May 2023 | 3 Years 5 Months | Current |
| Jignesh Gandhi | Director | 01 Jul 2022 | 4 Years 3 Months | Current |
| Sunil Vitthalrao Kolhe | Director | 01 Jul 2022 | 4 Years 3 Months | Current |
Peer Comparison of Maxwell Energy Systems Private Limited
Maxwell Energy Systems Private Limited is compared with the companies closest to it by revenue in the Power industry (Power Equipment Manufacturers). Net profit, margin and employee counts of each company are in the company report.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Electro Waves Electronics Private Limited | ₹70.92 Cr (FY 2025) | •••• | •••• | 46.0% | •••• | Himachal Pradesh, India |
| SG Ornate Solar Solutions Private Limited | ₹70.75 Cr (FY 2024) | •••• | •••• | •••• | New Delhi, Delhi, India | |
| Powertech Switchgears (India) Private Limited | ₹70.4 Cr (FY 2025) | •••• | •••• | 0.0% | •••• | New Delhi, Delhi, India |
| Enrich Encap Private Limited | ₹70.38 Cr (FY 2025) | •••• | •••• | 9.0% | •••• | Mumbai, Maharashtra, India |
| Advance Powerinfra Tech Limited | ₹70.33 Cr (FY 2018) | •••• | •••• | 451.0% | •••• | Kolkata, West Bengal, India |
| Maxwell Energy Systems Private Limited this company | ₹70.02 Cr (FY 2025) | •••• | •••• | 11.0% | •••• | Pune, Maharashtra, India |
| Hobb International Pvt.Ltd. | ₹69.91 Cr (FY 2025) | •••• | •••• | 38.0% | •••• | Kolkata, West Bengal, India |
| Milestones Switchgears Private Limited | ₹69.78 Cr (FY 2024) | •••• | •••• | 20.0% | •••• | New Delhi, Delhi, India |
| Teems India Tower Lines Private Limited | ₹69.66 Cr (FY 2025) | •••• | •••• | 4.0% | •••• | Chennai, Tamil Nadu, India |
| Oswal Transformers Private Limited | ₹69.37 Cr (FY 2025) | •••• | •••• | 5.0% | •••• | Rajasthan, India |
| Aplab Limited Listed | ₹68.76 Cr (FY 2025) | •••• | •••• | 36.0% | •••• | Navi Mumbai, Maharashtra, India |
Peers are the five companies nearest above and the five nearest below Maxwell Energy Systems by revenue in the Power industry (Power Equipment Manufacturers), from the latest filed financials of each company. Net profit, margin and employee counts of each peer are in the company report.
Charges & Borrowings of Maxwell Energy Systems Private Limited
Open charges
₹15 Cr
Satisfied charges
None
Breakdown by lending institutions
Latest charge details
| Date | Lender | Amount | Status |
|---|---|---|---|
| 28 May 2024 | Standard Chartered Bank | ₹15 Cr | Open |
Total charge records: 1 View all charges
Deals & Funding of Maxwell Energy Systems Private Limited
Maxwell Energy Systems Private Limited has 5 deals on record (3 secondary share transfers, 1 rights issue, 1 funding round), with disclosed funding of ₹71.5 Cr; the latest was in July 2024.
Total deals
5
Secondary share transfers
3
Rights issue
1
Funding round
1
Disclosed funding
₹71.5 Cr
Deals on record (5 of 5)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Jul 2024 | Secondary share transfer | Undisclosed | Buyer: Endurance Technologies Limited Seller: ION Energy Inc |
| Jul 2023 | Secondary share transfer | Undisclosed | Buyer: Endurance Technologies Limited Seller: ION Energy Inc |
| Mar 2023 | Secondary share transfer | Undisclosed | Buyer: Endurance Technologies Limited , Endurance Technologies Limited & Rohan Jain, Endurance Technologies Limited & Anurang Jain Seller: ION Energy Inc, ION Energy Inc & Prakash Hiralal Panjwani |
| Jul 2022 | Funding round | ₹71.5 Cr | Investors: Endurance Technologies Limited |
| Sep 2017 | Rights issue | ₹1 Lakh | Investors: ION Energy Inc |
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Full deal history
All 5 deals with amounts, valuations, instruments and every party are in the company report.
- Every funding round and share transfer
- Amounts and valuations
- Investors, buyers and sellers
- Instruments and deal dates
Verified entity values are shown only after access is granted.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
MSME Payment Delays by Maxwell Energy Systems Private Limited
Maxwell Energy Systems Private Limited has 7 MSME Form 1 returns on record between 2019 and 2023, listing 106 overdue payments to 19 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 19)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Kyoritsu Electric India Private Limited | •••• | •••• | •••• |
| Hi-Q Electronics Private Limited | •••• | •••• | •••• |
| an individual supplier | •••• | •••• | •••• |
| Electrotek Static Controls Private Limited | •••• | •••• | •••• |
| Wurth Electronics Services India Private Limited | •••• | •••• | •••• |
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Full MSME payment history
Every supplier, amount and due date from all 7 MSME Form 1 returns is in the company report.
- Every reported supplier due
- Amounts and due dates
- Reasons given in each return
- Period-by-period history
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 Maxwell Energy Systems Private Limited
Employment history and EPFO contributions of people linked to Maxwell Energy Systems.
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Employee and EPFO history
Monthly headcount, contribution history and filing status are in the company report.
- Monthly headcount
- PF contributions
- ECR filing status
- Establishment history
Verified entity values are shown only after access is granted.
Recent Activity on Maxwell Energy Systems Private Limited
Maxwell Energy Systems Private Limited has 9 board changes on record since 2022: 3 appointments and 6 cessations. The latest: Muralikrishna Giddaluru ceased to be Additional Director on 28 Aug 2023.
AGM
Maxwell Energy Systems Private Limited last Annual general meeting of members was held on 15 Sep 2025 as per latest MCA records.
Filing
Maxwell Energy Systems Private Limited has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Pune.
Charges
A charge with Standard Chartered Bank amounted to Rs. 1,500.00 Lakh with Charge ID 100935574 was registered on 28 May 2024.
Ceased
Muralikrishna Giddaluru ceased to be Additional Director.
Appointed
Muralikrishna Giddaluru was appointed as Director.
Ceased
Akhil Prakash Panjwani ceased to be Director.
Ceased
Alexandre Jacques Collet ceased to be Additional Director.
Appointed
Jignesh Gandhi was appointed as Director.
Ceased
Jignesh Gandhi ceased to be Additional Director.
Ceased
Prakash Hiralal Panjwani ceased to be Director.
Appointed
Sunil Vitthalrao Kolhe was appointed as Director.
Ceased
Sunil Vitthalrao Kolhe ceased to be Additional Director.
1 earlier event is listed in the company report.
Credit Ratings, Litigation & Regulatory Alerts for Maxwell Energy Systems Private Limited
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Credit ratings, litigation, and regulatory alerts
Credit ratings, court records and regulatory alerts are in the company report.
- Rating history
- Court and tribunal cases
- Regulatory alerts
- Director-linked violations
Verified entity values are shown only after access is granted.
Subsidiaries & Group Companies of Maxwell Energy Systems Private Limited
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Corporate group structure
Parent, subsidiary, associate and joint venture records with holdings are in the company report.
- Parent company
- Subsidiaries and ownership
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- Entity investments
Verified entity values are shown only after access is granted.
GST Compliance of Maxwell Energy Systems Private Limited
Maxwell Energy Systems has 2 GST registrations: 2 active.
Total GSTINs
2
Active
2
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AALCM2811R1ZX | Maharashtra | Active | 27 Sep 2017 |
| 06AALCM2811R1Z1 | Haryana | Active | 01 Mar 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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Verified entity values are shown only after access is granted.
MCA Filings & Documents of Maxwell Energy Systems 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 Maxwell Energy Systems Private Limited
Frequently Asked Questions about Maxwell Energy Systems Private Limited
Maxwell Energy Systems is an active private limited company based in Pune, Maharashtra, India. The company works in power equipment manufacturers, within the energy and power industry. It was incorporated on 23 August 2017 (9+ years old) and is registered under CIN U72900PN2017PTC243326.
Maxwell Energy Systems reported revenue of ₹70.02 Cr for FY 2025 (up 11% YoY).
Maxwell Energy Systems has 3 current directors:
- Muralikrishna Giddaluru - Director
- Jignesh Gandhi - Director
- Sunil Vitthalrao Kolhe - Director
Maxwell Energy Systems reported a net loss of ₹16.81 Cr (net margin -24%) and EBITDA of -₹6.69 Cr (EBITDA margin -9.6%) for FY 2025, as per its filed financial statements.
The compounded annual growth rate (CAGR) of the revenue of Maxwell Energy Systems is 53% over three years and 60% over five years. In the latest year (FY 2025) revenue rose 11%. CAGR is the steady yearly rate that links the first and the last year.
The GSTIN of Maxwell Energy Systems is 27AALCM2811R1ZX, registered in Maharashtra. The company has 2 GST registrations in all, of which 2 are active. Other active GSTINs include 06AALCM2811R1Z1 (Haryana).
The CIN (Corporate Identification Number) of Maxwell Energy Systems is U72900PN2017PTC243326. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Maxwell Energy Systems was incorporated on 23 August 2017, making it 9+ years old. It is registered with the Registrar of Companies, Pune.
Maxwell Energy Systems has 5 deals on record (3 secondary share transfers, 1 rights issue, 1 funding round), with disclosed funding of ₹71.5 Cr; the latest was in July 2024.
The peers of Maxwell Energy Systems by revenue are Electro Waves Electronics Private Limited, SG Ornate Solar Solutions Private Limited, Powertech Switchgears (India) Private Limited, Enrich Encap Private Limited, Advance Powerinfra Tech Limited and 5 more, all in the Power industry (Power Equipment Manufacturers).
Muralikrishna Giddaluru ceased to be Additional Director on 28 Aug 2023. Muralikrishna Giddaluru was appointed as Director on 04 May 2023. Akhil Prakash Panjwani ceased to be Director on 28 Mar 2023. Maxwell Energy Systems has 9 board changes on record in total.
Yes, Maxwell Energy Systems is registered as a small enterprise under Udyam registration (number: UDYAM-MH-19-0042185).