MSME (Udyam registered) Ministry of MSME
- Category
- Medium (2024-25)
- Udyam number
- UDYAM-KR-03-0161096
Altigreen Propulsion Labs Private Limited - automotive in Malur, Karnataka, India. FY 2026 financials & compliance.
Revenue · FY 2025
₹23.19 Cr
▼ 81% YoY
Net loss · FY 2025
₹103.92 Cr
Net margin -448.2%
EBITDA · FY 2025
-₹89.15 Cr
EBITDA margin -384.5%
Authorised capital
₹2.99 Cr
Registered with MCA
Paid-up capital
₹2.1 Cr
Issued & subscribed
Open charges
₹28 Cr
Satisfied ₹3 Cr
Company age
13 yrs
Est. 2013
Employees · EPFO
368
Provident fund records
About Altigreen Propulsion Labs Private Limited
Data last updated:
Altigreen Propulsion Labs Private Limited is a private limited company based in Malur, Karnataka, India. It operates in the electrical and bio fuel vehicles segment of the automotive sector. It was incorporated on 08 February 2013 and has been in existence for over 13 years.
The company is registered with the Registrar of Companies (ROC), Bangalore, under CIN U74900KA2013PTC067796. Its GSTIN is 29AALCA3226E1ZT (Karnataka). The company holds 3 GST registrations, all of them active.
The company has an authorised share capital of ₹2.99 Cr and a paid-up capital of ₹2.1 Cr. It is led by directors Amitabh Saran and Shalendra Kumar Gupta.
Its last annual general meeting (AGM) was held on 11 September 2024, and its latest financial statements are for the year ended 31 March 2024. The registered office is at 2 Plot No 2.3.4 4th Phase Industrial Area H Hosakote Village, Lakur Hobli Malur Industrialarea Kolar Karnataka 563160, Karnataka, India – 563160.
As per the financials filed for FY 2025, the company reported a revenue of ₹23.19 Cr, a decline of 81% compared to the previous year. For the same year it recorded a net loss of ₹103.92 Cr (net margin -448.2%) and EBITDA of -₹89.15 Cr (EBITDA margin -384.5%). Revenue has declined at a compounded annual rate (CAGR) of 70% over three years and 50% over five years.
The company has about 368 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Altigreen. As per MCA filings, the company has open charges of ₹28 Cr and satisfied charges of ₹3 Cr on record. Court records list 5 cases involving the company, including 5 filed against it; 2 cases are pending. The company has 17 deals on record (9 funding rounds, 4 rights issues, 4 secondary share transfers), with disclosed funding of ₹315.97 Cr; the latest was in December 2024. Its 4 peer companies in the Automobiles industry (Electric and Bio Fuel Vehicles), with the same principal business activity (motor vehicles, trailers, semi trailers and other transport vehicles) are compared by revenue, 2 larger and 2 smaller; the largest is Tunwal E-Vehicle India Private Limited with revenue of ₹23.74 Cr. The company has 2 MSME Form 1 returns on record between 2023 and 2024, listing 163 overdue payments to 22 micro and small suppliers.
Altigreen Propulsion Labs Private Limited is registered as a medium enterprise under the Udyam registration framework (Reg. No. UDYAM-KR-03-0161096). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website altigreen.com.
Company details
CIN U74900KA2013PTC067796
Registration Number 067796
Incorporation Date 08 February 2013
ROC Bangalore
Listing Status Unlisted
Company Status Active
Date of Last AGM 11 September 2024
Date of Balance Sheet 31 March 2024
Compliance Status Active Compliant
MSME Classification Medium
Udyam Registration UDYAM-KR-03-0161096
Recognitions & Rankings of Altigreen Propulsion Labs
Contact details
Altigreen Propulsion Labs Private Limited's registered office is in Malur, Karnataka. Its website is altigreen.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered Address2 Plot No 2.3.4 4th Phase Industrial Area H Hosakote Village, Lakur Hobli Malur Industrialarea Kolar Karnataka 563160, Karnataka, India – 563160
- IndustryAutomotive, Electrical and Bio Fuel Vehicles
To see the full contact details of Altigreen Propulsion Labs Private Limited, buy the company report.
Comprehensive company report
Altigreen Propulsion Labs Private Limited - one report that includes everything
- 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
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Brands
Altigreen Propulsion Labs operates one associated brand: Altigreen. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Electric mobility solutions are offered via indigenous three-wheelers. | altigreen.com |
Business activity
The main business activities of Altigreen Propulsion Labs are manufacturing and support service to organizations. In detail, this covers motor vehicles, trailers, semi trailers and other transport vehicles and other support services to organizations. 2 activity segments are registered with the MCA.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C11 | Motor vehicles, trailers, semi trailers and other Transport Vehicles | |
| N | Support service to Organizations | N7 | Other support services to organizations |
To see the full business activity and turnover split of Altigreen Propulsion Labs Private Limited, buy the company report.
Financials of Altigreen Propulsion Labs Private Limited
FY 2024 filings availableAltigreen Propulsion Labs Private Limited reported revenue of ₹23.19 Cr (down 81% YoY) for FY 2025.
Revenue · FY 2025
₹23.19 Cr ▼ 81%
Net loss · FY 2025
₹103.92 Cr margin -448.2%
EBITDA · FY 2025
-₹89.15 Cr margin -384.5%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▼ 81%
3 years · compounded
▼ 70%
5 years · compounded
▼ 50%
EBITDA CAGR growth
1 year
▲ 60%
3 years · compounded
▼ 37%
5 years · compounded
▼ 20%
Revenue has declined at a compounded annual rate (CAGR) of 50% over five years, including a 81% fall in the latest year. EBITDA rose 60% 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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| Total Expenses | |||||
| EBITDA | -₹89.15 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | -₹103.92 Cr | ||||
| Balance Sheet | |||||
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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 | -384.5% | ||||
| Net Profit Margin | -448.2% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
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To see the full financial statements and ratios of Altigreen Propulsion Labs Private Limited, buy the company report.
Board of directors of Altigreen Propulsion Labs Private Limited
Altigreen Propulsion Labs has 2 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 |
|---|---|---|---|---|
| Amitabh Saran | Director | 08 Feb 2013 | 13 Years 8 Months | Current |
| Shalendra Kumar Gupta | Director | 08 Feb 2013 | 13 Years 8 Months | Current |
Peer comparison
Altigreen Propulsion Labs Private Limited is compared with the 4 companies closest to it by revenue in the Automobiles industry (Electric and Bio Fuel Vehicles), with the same principal business activity (motor vehicles, trailers, semi trailers and other transport vehicles), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Tunwal E-Vehicle India Private Limited | ₹23.74 Cr (FY 2025) | 13.0% | Pune, Maharashtra, India | |||
| JS Mobileon Private Limited | ₹23.4 Cr (FY 2025) | 3.0% | Delhi, India | |||
| Altigreen Propulsion Labs Private Limitedthis company | ₹23.19 Cr (FY 2025) | -₹103.92 Cr | -448.2% | -81.0% | 368 | Malur, Karnataka, India |
| Dial E- Vahan Private Limited | ₹22.97 Cr (FY 2025) | 128.0% | Hisar, Haryana, India | |||
| Mercury Ev-Tech Limited | ₹22.53 Cr (FY 2024) | 40.0% | Karjan, Gujarat, India |
To see the full peer comparison of Altigreen Propulsion Labs Private Limited, buy the company report.
Auditor
Altigreen Propulsion Labs Private Limited is audited by SR Batliboi and Associates LLP for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| SR Batliboi and Associates LLP | FY 2023 | 101049W/E300004 |
Shareholding
The shareholding of Altigreen Propulsion Labs 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 Altigreen Propulsion Labs Private Limited, buy the company report.
Charges & borrowings
Open charges
₹28 Cr
Satisfied charges
₹3 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 08 Mar 2024 | 100894800 | Others | ₹5 Cr | Open | |
| 29 May 2023 | 100731533 | State Bank of India | ₹16 Cr | Open | |
| 02 May 2023 | 100747281 | Hdfc Bank Limited | ₹7 Cr | Open | |
| 10 Mar 2021 | 100432015 | Others | ₹3 Cr | Satisfied |
To see the full charge records of Altigreen Propulsion Labs Private Limited, buy the company report.
Total charge records: 4 View all charges
Deals & funding
Altigreen Propulsion Labs Private Limited has 17 deals on record (9 funding rounds, 4 rights issues, 4 secondary share transfers), with disclosed funding of ₹315.97 Cr; the latest was in December 2024.
Total deals
17
Funding rounds
9
Rights issues
4
Secondary share transfers
4
Disclosed funding
₹315.97 Cr
Deals on record (5 of 17)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Feb 2022 | Funding round · Series A | ₹291.57 Cr | Investors: Sixth Sense Ventures, Reliance New Energy Limited , Accurant International |
| Apr 2020 | Rights issue | ₹8.5 Cr | Investors: Drs5 Llc, 3 individuals |
| Jan 2019 | Rights issue | ₹11.74 Cr | Investors: Sterling Tools Limited , The Hi-Tech Gears Limited, 2 individuals |
| Dec 2017 | Secondary share transfer | Undisclosed | Buyer: APL ESOP Trust Trustees, Jupiter Capital, 2 individuals Seller: 3 individuals |
| Nov 2013 | Funding round · Seed | ₹2.01 Cr | Investors: I2eye Interactive Private Limited , 3 individuals |
To see the full deal history of Altigreen Propulsion Labs Private 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
Altigreen Propulsion Labs Private Limited has 5 court cases on record: 5 filed against it. 2 cases are pending and 3 are disposed.
Total cases
5
Filed against the company
5
Pending
2
Disposed
3
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 5 | 5 | 2 |
Cases on record (5 of 5)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, South East, Delhi | Civil suit | Filed against the company by Intersped Logistics India Private Limited | Pending |
| District court, Tiruvallur, Tamil Nadu | Civil suit | Filed against the company by M/S Elektronika Sales Private Limited Represented by Its Authorized Signatory Mr John Alexander | Pending |
| District court, BENGALURU, Karnataka | Court case (Com.O.S.) | Filed against the company by M/S Magcore Lamination India Pvt Ltd | Disposed |
| District court, West, Delhi | Commercial suit | Filed against the company by Om Logistics Limited and 1 other | Disposed |
| District court, BENGALURU, Karnataka | Motor accident claim | Filed against the company by an individual | Disposed |
To see the full case history of Altigreen Propulsion Labs 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
Altigreen Propulsion Labs Private Limited has 2 MSME Form 1 returns on record between 2023 and 2024, listing 163 overdue payments to 22 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 22)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Apeiron Mobility Private Limited | |||
| an individual supplier | |||
| JP Enterprises | |||
| CVM Precision Products Private Limited | |||
| an individual supplier |
To see the full MSME payment records of Altigreen Propulsion Labs Private Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Employees & EPFO
Altigreen Propulsion Labs Private Limited has a workforce of 368 employees on its EPFO records as of Apr 08, 2024, across 1 active EPFO establishment.
Employee count
368
Active EPFO establishments
1
Employee growth
44.88%
GST
Altigreen Propulsion Labs has 3 GST registrations: 3 active.
Total GSTINs
3
Active
3
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 29AALCA3226E1ZT | Karnataka | Active | 01 Jul 2017 |
| 07AALCA3226E1ZZ | Delhi | Active | 20 Jan 2021 |
| 27AALCA3226E1ZX | Maharashtra | Active | 16 May 2024 |
To see the full GST registrations and return filing status of Altigreen Propulsion Labs Private Limited, buy the company report.
Recent activity
Altigreen Propulsion Labs Private Limited has 26 board changes on record since 2013: 14 appointments and 12 cessations. The latest: Ajay Dilkush Sarupria ceased to be Director on 22 Nov 2024.
Ceased
Ajay Dilkush Sarupria ceased to be Director.
Ceased
Subhabrata Ghosh ceased to be Nominee Director.
Ceased
Nikhil Kishorchandra Vora ceased to be Nominee Director.
Ceased
Perumal Srinivasan ceased to be Nominee Director.
Charges
A charge with Others of Rs. 5.00 Cr registered on 08 Mar 2024 with Charge ID 100894800 was modified on 13 Sep 2024.
AGM
Altigreen Propulsion Labs Private Limited last Annual general meeting of members was held on 11 Sep 2024 as per latest MCA records.
Charges
A charge with Hdfc Bank Limited of Rs. 7.00 Cr registered on 02 May 2023 with Charge ID 100747281 was modified on 01 Aug 2024.
Filing
Altigreen Propulsion Labs Private Limited has filed its annual Financial statements for the year ended 31 Mar 2024 with Roc Bangalore.
Charges
A charge with Others amounted to Rs. 5.00 Cr with Charge ID 100894800 was registered on 08 Mar 2024.
Charges
A charge with State Bank Of India amounted to Rs. 16.00 Cr with Charge ID 100731533 was registered on 29 May 2023.
Charges
A charge registered on 10 Mar 2021 via Charge ID 100432015 with Others was fully satisfied on 26 May 2023.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 7.00 Cr with Charge ID 100747281 was registered on 02 May 2023.
24 earlier events are in the company report.
News
Frequently asked questions
Altigreen Propulsion Labs is an active private limited company based in Malur, Karnataka, India. The company works in electrical and bio fuel vehicles, within the automotive industry. It was incorporated on 08 February 2013 (13+ years old) and is registered under CIN U74900KA2013PTC067796.
Altigreen Propulsion Labs has 2 current directors:
- Amitabh Saran - Director
- Shalendra Kumar Gupta - Director
The latest financial statements of Altigreen Propulsion Labs on record with the MCA are for the year ended 31 March 2024. Its last annual general meeting was held on 11 September 2024. Year-wise statements from 2015 are in the company report.
The GSTIN of Altigreen Propulsion Labs is 29AALCA3226E1ZT, registered in Karnataka. The company has 3 GST registrations in all, of which 3 are active. Other active GSTINs include 07AALCA3226E1ZZ (Delhi), 27AALCA3226E1ZX (Maharashtra).
The CIN (Corporate Identification Number) of Altigreen Propulsion Labs is U74900KA2013PTC067796. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Altigreen Propulsion Labs has 5 court cases on record: 5 filed against it. 2 are pending.
Altigreen Propulsion Labs was incorporated on 08 February 2013, making it 13+ years old. It is registered with the Registrar of Companies, Bangalore.
Altigreen Propulsion Labs has 17 deals on record (9 funding rounds, 4 rights issues, 4 secondary share transfers), with disclosed funding of ₹315.97 Cr; the latest was in December 2024.
The peers of Altigreen Propulsion Labs by revenue are Tunwal E-Vehicle India Private Limited, JS Mobileon Private Limited, Dial E- Vahan Private Limited, Mercury Ev-Tech Limited, all in the Automobiles industry (Electric and Bio Fuel Vehicles), with the same principal business activity (motor vehicles, trailers, semi trailers and other transport vehicles).
Ajay Dilkush Sarupria ceased to be Director on 22 Nov 2024. Subhabrata Ghosh ceased to be Nominee Director on 14 Nov 2024. Nikhil Kishorchandra Vora ceased to be Nominee Director on 13 Nov 2024. Altigreen Propulsion Labs has 26 board changes on record in total.
Yes, Altigreen Propulsion Labs is registered as a medium enterprise under Udyam registration (number: UDYAM-KR-03-0161096).
Altigreen Propulsion Labs has 2 MSME Form 1 returns on record between 2023 and 2024, listing 163 overdue payments to 22 micro and small suppliers. The latest return was filed on 09 May 2024.