About Adyah Solar Energy Private Limited
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Adyah Solar Energy Private Limited is a private limited company based in Bangalore, Karnataka, India, a subsidiary of Ayana Renewable Power Private Limited. It operates in the solar energy solutions segment of the environmental services sector. It was incorporated on 09 March 2018 and has been in existence for over 8 years.
The company is registered with the Registrar of Companies (ROC), Bangalore, under CIN U40100KA2018PTC152936. Its GSTIN is 29AAQCA6160L1Z2 (Karnataka).
The company has an authorised share capital of ₹85 Cr and a paid-up capital of ₹85 Cr. It is led by directors including Sajida Dilawar Mulani and Atul Kumar Agarwal.
Its last annual general meeting (AGM) was held on 29 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Bangalore, Karnataka.
As per the financials filed for FY 2025, the company reported a revenue of ₹190.2 Cr, a decline of 10% compared to the previous year. For the same year it recorded a net loss of ₹24.73 Cr (net margin -13%) and EBITDA of ₹149.8 Cr (EBITDA margin 78.8%). Revenue has declined at a compounded annual rate (CAGR) of 2% over three years and 1% over five years.
The company has about 3 employees on its provident fund (EPFO) records.
The company is associated with 2 brands: ReNew and Ayana. As per MCA filings, the company has open charges of ₹1,011.13 Cr and satisfied charges of ₹1,981.72 Cr on record. Court records list 54 cases involving the company, including 41 filed by the company and 13 filed against it; 7 cases are pending. The company has 3 deals on record (2 acquisitions, 1 funding round), with disclosed funding of ₹300.99 Cr; the latest was in February 2021. Its 7 peer companies in the Cleantech industry (Solar Power), with the same principal business activity (electric power generation, transmission and distribution) are compared by revenue, 3 larger and 4 smaller; the largest is Azure Power Forty One Private Limited with revenue of ₹193.89 Cr. The company has 1 MSME Form 1 return on record for the period ending Sep 2022, listing 1 overdue payment to 1 micro and small supplier.
For more details, the company can be reached via its website ayanapower.com.
Company details
CIN history
Adyah Solar Energy has one previous CIN (Corporate Identification Number): U40100DL2018PTC330584. The current CIN is U40100KA2018PTC152936, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U40100KA2018PTC152936 | Current |
| U40100DL2018PTC330584 | Previous |
Contact details
Adyah Solar Energy Private Limited's registered office is in Bangalore, Karnataka. Its website is ayanapower.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered AddressS 2904 29th Floor World Trade Center Brigade Gateway Campus #26/1 Dr.Rajkumar Road Ma, Lleswaram, Bangalore, Karnataka, India – 560055
- IndustryEnvironment, Solar Energy Solutions
To see the full contact details of Adyah Solar Energy 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
Brands
Adyah Solar Energy operates two associated brands: ReNew and Ayana. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Utility-scale renewable energy generation and decarbonization solutions are provided. | renew.com | |
| Utility-scale solar, wind, hybrid, and clean energy projects are developed. | ayanapower.com |
Business activity
The main business activity of Adyah Solar Energy is electricity, gas, steam and air condition supply. In detail, this covers electric power generation, transmission and distribution.
| 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 |
To see the full business activity and turnover split of Adyah Solar Energy Private Limited, buy the company report.
Financials of Adyah Solar Energy Private Limited
FY 2025 filings availableAdyah Solar Energy Private Limited reported revenue of ₹190.2 Cr (down 10% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue has declined at a compounded annual rate (CAGR) of 1% over five years, including a 10% fall in the latest year. EBITDA fell 14% 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 | ₹149.8 Cr | ||||
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| Net Profit (PAT) | -₹24.73 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 | 78.8% | ||||
| Net Profit Margin | -13% | ||||
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To see the full financial statements and ratios of Adyah Solar Energy Private Limited, buy the company report.
Board of directors of Adyah Solar Energy Private Limited
Adyah Solar 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 |
|---|---|---|---|---|
| Sajida Dilawar Mulani | Director | 17 Feb 2021 | 5 Years 8 Months | Current |
| Atul Kumar Agarwal | Director | 17 Feb 2021 | 5 Years 8 Months | Current |
| Rohit Chandak | Director | 17 Feb 2021 | 5 Years 8 Months | Current |
| Nishant Kumar | Additional Director | 13 Nov 2025 | 0 Years 11 Months | Current |
| Sonam Sarin | Director | 17 Feb 2021 | 5 Years 8 Months | Current |
| Vaibhav Vijay Karade | Director | 10 Jul 2025 | 1 Years 3 Months | Current |
Peer comparison
Adyah Solar Energy Private Limited is compared with the 7 companies closest to it by revenue in the Cleantech industry (Solar Power), 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 |
|---|---|---|---|---|---|---|
| Azure Power Forty One Private Limited | ₹193.89 Cr (FY 2025) | 3.0% | New Delhi, Delhi, India | |||
| Walwhan Solar MP Limited | ₹191.95 Cr (FY 2024) | -3.0% | Mumbai, Maharashtra, India | |||
| Clean Solar Power (Bhadla) Private Limited | ₹191.08 Cr (FY 2025) | -7.0% | New Delhi, Delhi, India | |||
| Adyah Solar Energy Private Limitedthis company | ₹190.2 Cr (FY 2025) | -₹24.73 Cr | -13% | -10.0% | 3 | Bangalore, Karnataka, India |
| Arinsun Clean Energy Private Limited | ₹190.1 Cr (FY 2025) | 3.0% | New Delhi, Delhi, India | |||
| Avaada Sustainable Rjproject Private Limited | ₹189.02 Cr (FY 2025) | -6.0% | Noida, Uttar Pradesh, India | |||
| Sprng Agnitra Private Limited | ₹187.8 Cr (FY 2025) | -3.0% | New Delhi, Delhi, India | |||
| Kpig Energia Private Limited | ₹185.16 Cr (FY 2025) | -32.0% | Surat, Gujarat, India |
To see the full peer comparison of Adyah Solar Energy Private Limited, buy the company report.
Auditor
Adyah Solar Energy Private Limited is audited by S.R. Batliboi & Co. LLP for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| S.R. Batliboi & Co. LLP | FY 2023 | 301003E/E300005 |
Shareholding
The shareholding of Adyah Solar Energy 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 Adyah Solar Energy Private Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 26 Oct 2023 | 100810730 | Sbicap Trustee Company Limited | ₹779.61 Cr | Open | |
| 29 Mar 2023 | 100701584 | Others | ₹231.53 Cr | Open | |
| 24 Feb 2021 | 100417182 | Sbicap Trustee Company Limited | ₹850 Cr | Satisfied | |
| 18 Oct 2018 | 100211099 | Others | ₹1,131.72 Cr | Satisfied |
To see the full charge records of Adyah Solar Energy Private Limited, buy the company report.
Total charge records: 4 View all charges
Deals & funding
Adyah Solar Energy Private Limited has 3 deals on record (2 acquisitions, 1 funding round), with disclosed funding of ₹300.99 Cr; the latest was in February 2021.
Deals on record (3 of 3)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Feb 2021 | Acquisition | Undisclosed | Buyer: Ayana Renewable Power Private Limited Seller: Renew Solar Power Private Limited |
| Feb 2021 | Funding round | ₹300.99 Cr | Investors: Renew Solar Power Private Limited , Ayana Renewable Power Private Limited |
| Mar 2019 | Acquisition | ₹1 Lakh | Buyer: Ayana Renewable Power Private Limited Seller: Renew Solar Power Private Limited |
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Adyah Solar Energy Private Limited has 54 court cases on record: 41 filed by Adyah Solar Energy, 13 filed against it. 7 cases are pending and 47 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 48 | 7 | 1 |
| Supreme Court | 6 | 6 | 6 |
Cases on record (5 of 54)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court of Karnataka | Interim or miscellaneous application | Filed by the company against Param Renewable Energy Pvt Ltd. | Pending |
| Supreme Court | Appeal | Filed against the company by Hubli Electricity Supply Company Limited | Pending |
| Supreme Court | Appeal | Filed against the company by Gulbarga Electricity Supply Company Ltd. | Pending |
| Supreme Court | Court case (0401-Indirect Taxes Matters : Interpretation of the Customs Act, Rules & Regulations) | Filed against the company by M/S Jupiter Solar Power Limited Through Its Authorised Signatory Alok Garodia Village Katha, Po Baddi , District: Nalagarh ,Solan , Himachal Pradesh | Pending |
| High Court | Appeal | Filed against the company by Bangalore Electricity Supply Company Ltd | Disposed |
To see the full case history of Adyah Solar Energy 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.
Credit ratings & regulatory alerts
Adyah Solar Energy Private Limited was last rated by Care on 08 Jul 2026.
| Rating agency | Rated on | Rating |
|---|---|---|
| Care | 08 Jul 2026 |
To see the full credit ratings and regulatory alerts of Adyah Solar Energy Private Limited, buy the company report.
MSME payment delays
Adyah Solar Energy Private Limited has 1 MSME Form 1 return on record for the period ending Sep 2022, listing 1 overdue payment to 1 micro and small supplier. 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 (1 of 1)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Param Renewable Energy Private Limited |
To see the full MSME payment records of Adyah Solar Energy Private Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Employees & EPFO
Adyah Solar Energy Private Limited has a workforce of 3 employees on its EPFO records as of Mar 28, 2024, across 1 active EPFO establishment.
GST
Adyah Solar Energy has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 29AAQCA6160L1Z2 | Karnataka | Active | 05 May 2018 |
To see the full GST registrations and return filing status of Adyah Solar Energy Private Limited, buy the company report.
Recent activity
Adyah Solar Energy Private Limited has 16 board changes on record since 2018: 6 appointments and 10 cessations. The latest: Nishant Kumar was appointed as Additional Director on 13 Nov 2025.
15 earlier events are in the company report.
News
Frequently asked questions
Adyah Solar Energy is an active private limited company based in Bangalore, Karnataka, India. The company works in solar energy solutions, within the environment industry. It was incorporated on 09 March 2018 (8+ years old) and is registered under CIN U40100KA2018PTC152936.
Adyah Solar Energy has 6 current directors:
- Sajida Dilawar Mulani - Director
- Atul Kumar Agarwal - Director
- Rohit Chandak - Director
- Nishant Kumar - Additional Director
- Sonam Sarin - Director
- Vaibhav Vijay Karade - Director
The latest financial statements of Adyah Solar Energy on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 29 September 2025. Year-wise statements from FY 2018 are in the company report.
The GSTIN of Adyah Solar Energy is 29AAQCA6160L1Z2, registered in Karnataka.
The CIN (Corporate Identification Number) of Adyah Solar Energy is U40100KA2018PTC152936. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Adyah Solar Energy has 54 court cases on record: 41 filed by the company and 13 filed against it. 7 are pending. Most are in the high courts.
Adyah Solar Energy was incorporated on 09 March 2018, making it 8+ years old. It is registered with the Registrar of Companies, Bangalore.
Adyah Solar Energy has 3 deals on record (2 acquisitions, 1 funding round), with disclosed funding of ₹300.99 Cr; the latest was in February 2021.
The peers of Adyah Solar Energy by revenue are Azure Power Forty One Private Limited, Walwhan Solar MP Limited, Clean Solar Power (Bhadla) Private Limited, Arinsun Clean Energy Private Limited, Avaada Sustainable Rjproject Private Limited and 2 more, all in the Cleantech industry (Solar Power), with the same principal business activity (electric power generation, transmission and distribution).
Nishant Kumar was appointed as Additional Director on 13 Nov 2025. Vaibhav Vijay Karade ceased to be Additional Director on 28 Sep 2025. Vaibhav Vijay Karade was appointed as Director on 10 Jul 2025. Adyah Solar Energy has 16 board changes on record in total.
Adyah Solar Energy has 1 MSME Form 1 return on record for the period ending Sep 2022, listing 1 overdue payment to 1 micro and small supplier. The latest return was filed on 29 Oct 2022.
Adyah Solar Energy can be reached through the website ayanapower.com. Its registered office is in Bangalore, Karnataka, India.
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