About Neo Solren Private Limited
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Neo Solren Private Limited is a private limited company based in Mumbai, Maharashtra, India, a subsidiary of Megasolis Renewables Private Limited. It operates in the solar energy solutions segment of the environmental services sector. It was incorporated on 01 July 2015 and has been in existence for over 11 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U74999MH2015PTC266154. Its GSTIN is 27AAECN9658C1Z7 (Maharashtra). The company holds 2 GST registrations, all of them active.
The company has an authorised share capital of ₹15 Cr and a paid-up capital of ₹9.32 Cr. It is led by directors including Devjeet Ghosh and Niraj Bhupendrakumar Shah.
Its last annual general meeting (AGM) was held on 21 August 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Mumbai, Maharashtra.
As per the financials filed for FY 2025, the company reported a revenue of ₹52.36 Cr, a growth of 28% compared to the previous year. For the same year it recorded a net profit of ₹5.54 Cr (net margin 10.6%) and EBITDA of ₹45.74 Cr (EBITDA margin 87.4%). Revenue has grown at a compounded annual rate (CAGR) of 9% over three years and 5% over five years.
The company is associated with 2 brands: Mahindra and Mahindra Susten. As per MCA filings, the company has open charges of ₹107.73 Cr and satisfied charges of ₹268.8 Cr on record. Court records list 1 case involving the company, including 1 filed by the company; 1 case is pending. The company has 4 deals on record (1 rights issue, 1 funding round, 1 secondary share transfer), with disclosed funding of ₹12.77 Cr; the latest was in February 2020. Its 8 peer companies in the Cleantech industry (Solar Power), with the same principal business activity (electric power generation, transmission and distribution) are compared by revenue, 5 larger and 3 smaller; the largest is Athena Bhiwadi Solar Power Private Limited with revenue of ₹53.19 Cr.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website mahindrasusten.com.
Company details
Contact details
Neo Solren Private Limited's registered office is in Mumbai, Maharashtra. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Social Media
- Registered AddressCowrks Ground Floor Winchester, South Avenue Road Downtown Powai, Mumbai, Maharashtra, India – 400076
- IndustryEnvironment, Solar Energy Solutions
To see the full contact details of Neo Solren 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
Neo Solren operates two associated brands: Mahindra and Mahindra Susten. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Diversified operations span automotive, agriculture, and financial services. | mahindra.com | |
| Turnkey EPC services for solar power plants are provided. | mahindrasusten.com |
Business activity
The main business activity of Neo Solren 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 Neo Solren Private Limited, buy the company report.
Financials of Neo Solren Private Limited
FY 2025 filings availableNeo Solren Private Limited reported revenue of ₹52.36 Cr (up 28% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue has grown at a compounded annual rate (CAGR) of 5% over five years, including 28% growth in the latest year. EBITDA rose 36% 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 | ₹45.74 Cr | ||||
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| Net Profit (PAT) | ₹5.54 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 | 87.4% | ||||
| Net Profit Margin | 10.6% | ||||
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To see the full financial statements and ratios of Neo Solren Private Limited, buy the company report.
Board of directors of Neo Solren Private Limited
Neo Solren has 3 current directors and 14 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Devjeet Ghosh Also directs: Emergent Solren Private Limited, Mega Suryaurja Private Limited, Brightsolar Renewable Energy Private Limited and 2 more | Director | 10 Jan 2024 | 2 Years 9 Months | Current |
| Niraj Bhupendrakumar Shah Also directs: Emergent Solren Private Limited, Mega Suryaurja Private Limited, Brightsolar Renewable Energy Private Limited and 2 more | Director | 26 Apr 2024 | 2 Years 6 Months | Current |
| Gaurav Malhotra Also directs: Emergent Solren Private Limited, Mega Suryaurja Private Limited, Brightsolar Renewable Energy Private Limited and 3 more | Director | 10 Jan 2024 | 2 Years 9 Months | Current |
Peer comparison
Neo Solren Private Limited is compared with the 8 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 |
|---|---|---|---|---|---|---|
| Athena Bhiwadi Solar Power Private Limited | ₹53.19 Cr (FY 2025) | -6.0% | New Delhi, Delhi, India | |||
| U R Energy (India) Private Limited | ₹53.19 Cr (FY 2024) | -40.0% | Ahmedabad, Gujarat, India | |||
| Athena Karnal Solar Power Private Limited | ₹53.18 Cr (FY 2025) | -6.0% | New Delhi, Delhi, India | |||
| Adani Solar Energy Jodhpur Two Limited | ₹53.16 Cr (FY 2025) | -12.0% | Ahmedabad, Gujarat, India | |||
| Adani Solar Energy Chitrakoot One Limited | ₹52.42 Cr (FY 2025) | -7.0% | Ahmedabad, Gujarat, India | |||
| Neo Solren Private Limitedthis company | ₹52.36 Cr (FY 2025) | ₹5.54 Cr | 10.6% | 28.0% | Mumbai, Maharashtra, India | |
| Avaada Mhgreen Private Limited | ₹52.25 Cr (FY 2025) | Noida, Uttar Pradesh, India | ||||
| Azure Power (Raj.) Private Limited | ₹52.19 Cr (FY 2025) | -14.0% | New Delhi, Delhi, India | |||
| Sunshakti Solar Power Projects Private Limited | ₹52.17 Cr (FY 2025) | 1.0% | Ahmedabad, Gujarat, India |
To see the full peer comparison of Neo Solren Private Limited, buy the company report.
Auditor
Neo Solren Private Limited is audited by B. K. Khare & Co for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| B. K. Khare & Co | FY 2023 | 105102W |
Shareholding
The shareholding of Neo Solren 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 |
|---|---|---|---|---|---|
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| Domestic institutional investors (DII) | |||||
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| Others |
To see the full shareholding pattern of Neo Solren Private Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 28 Jun 2024 | 100942137 | Others | ₹107.73 Cr | Open | |
| 29 Dec 2016 | 100073572 | Idbi Trusteeship Services Limited | ₹268.8 Cr | Satisfied |
To see the full charge records of Neo Solren Private Limited, buy the company report.
Total charge records: 2 View all charges
Deals & funding
Neo Solren Private Limited has 4 deals on record (1 rights issue, 1 funding round, 1 secondary share transfer), with disclosed funding of ₹12.77 Cr; the latest was in February 2020.
Deals on record (4 of 4)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Feb 2020 | Acquisition | ₹107.44 Cr | Buyer: Apraava Energy Private Limited |
| Aug 2016 | Rights issue | ₹51.44 Cr | Investors: Mahindra Renewables Private Limited |
| Mar 2016 | Secondary share transfer | Undisclosed | Buyer: Mahindra Renewables Private Limited, Mahindra Renewables Private Limited & Roshan Gandhi Seller: Megasolis Renewables Private Limited , Mahindra Offgrid Services Private Limited & Roshan Laxmilal Gandhi |
| Jan 2016 | Funding round | ₹12.77 Cr | Investors: Mahindra Renewables Private Limited |
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Neo Solren Private Limited has 1 court case on record: 1 filed by Neo Solren. All case is pending. Status as checked on 21 Sep 2026.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 1 | 0 | 1 |
Cases on record (1 of 1)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court for State of Telangana | Writ petition | Filed by the company against State of Telangana | Pending |
To see the full case history of Neo Solren 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
Neo Solren Private Limited was last rated by Indiarating on 30 May 2022.
| Rating agency | Rated on | Rating |
|---|---|---|
| Indiarating | 30 May 2022 |
To see the full credit ratings and regulatory alerts of Neo Solren Private Limited, buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Neo Solren Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Employees & EPFO
Neo Solren Private Limited has 1 active EPFO establishment as of Mar 30, 2024.
GST
Neo Solren has 2 GST registrations: 2 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAECN9658C1Z7 | Maharashtra | Active | 01 Jul 2017 |
| 36AAECN9658C1Z8 | Telangana | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Neo Solren Private Limited, buy the company report.
Recent activity
Neo Solren Private Limited has 15 board changes on record since 2017: 3 appointments and 12 cessations. The latest: Adity Bhardwaj ceased to be Additional Director on 21 May 2024.
10 earlier events are in the company report.
News
Frequently asked questions
Neo Solren 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 01 July 2015 (11+ years old) and is registered under CIN U74999MH2015PTC266154.
Neo Solren has 3 current directors:
- Devjeet Ghosh - Director
- Niraj Bhupendrakumar Shah - Director
- Gaurav Malhotra - Director
The latest financial statements of Neo Solren on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 21 August 2025. Year-wise statements from FY 2016 are in the company report.
The GSTIN of Neo Solren is 27AAECN9658C1Z7, registered in Maharashtra. The company has 2 GST registrations in all, of which 2 are active. Other active GSTINs include 36AAECN9658C1Z8 (Telangana).
The CIN (Corporate Identification Number) of Neo Solren is U74999MH2015PTC266154. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Neo Solren has 1 court case on record: 1 filed by the company. 1 is pending.
Neo Solren was incorporated on 01 July 2015, making it 11+ years old. It is registered with the Registrar of Companies, Mumbai.
Neo Solren has 4 deals on record (1 rights issue, 1 funding round, 1 secondary share transfer), with disclosed funding of ₹12.77 Cr; the latest was in February 2020.
The peers of Neo Solren by revenue are Athena Bhiwadi Solar Power Private Limited, U R Energy (India) Private Limited, Athena Karnal Solar Power Private Limited, Adani Solar Energy Jodhpur Two Limited, Adani Solar Energy Chitrakoot One Limited and 3 more, all in the Cleantech industry (Solar Power), with the same principal business activity (electric power generation, transmission and distribution).
Adity Bhardwaj ceased to be Additional Director on 21 May 2024. Devjeet Ghosh ceased to be Additional Director on 21 May 2024. Gaurav Malhotra ceased to be Additional Director on 21 May 2024. Neo Solren has 15 board changes on record in total.
Neo Solren can be reached through the website mahindrasusten.com. Its registered office is in Mumbai, Maharashtra, India.