India's Richest People 2026 edition · 1 director · Source: Hurun India
- #957 Maddisetty Venugopal Rao & family ₹3,000 Cr
Revenue · FY 2025
₹7.49 Cr
Latest filing
Net loss · FY 2025
₹14.53 Cr
Net margin -194.1%
EBITDA · FY 2025
-₹25.75 Cr
EBITDA margin -343.9%
Authorised capital
₹61 Cr
Registered with MCA
Paid-up capital
₹38.22 Cr
Issued & subscribed
Open charges
₹2,649.5 Cr
Satisfied ₹103.5 Cr
Company age
16 yrs
Est. 2010
Employees · EPFO
2
Provident fund records
About Pace Renewable Energies Private Limited
Data last updated:
Pace Renewable Energies Private Limited is a private limited company based in Bangalore, Karnataka, India, a subsidiary of Pace Digitek Infra Private Limited. It operates in the solar energy solutions segment of the environmental services sector. It was incorporated on 31 March 2010 and has been in existence for over 16 years.
Its director Maddisetty Venugopal Rao and family are #957 among India's richest people (2026).
The company is registered with the Registrar of Companies (ROC), Bangalore, under CIN U29307KA2010PTC053077. Its GSTIN is 29AAFCP3919H1Z6 (Karnataka). The company holds 12 GST registrations, of which 5 are active.
The company has an authorised share capital of ₹61 Cr and a paid-up capital of ₹38.22 Cr. It is led by directors including Maddisetty Padma and Rajiv Maddisetty.
Its last annual general meeting (AGM) was held on 30 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Plot No. V – 12 Industrial Estate Kumbalgodu Bangalore – Mysore Highway, Karnataka, India – 560074.
As per the financials filed for FY 2025, the company reported a revenue of ₹7.49 Cr. For the same year it recorded a net loss of ₹14.53 Cr (net margin -194.1%) and EBITDA of -₹25.75 Cr (EBITDA margin -343.9%). Revenue has declined at a compounded annual rate (CAGR) of 34% over three years and 29% over five years.
The company has about 2 employees on its provident fund (EPFO) records.
As per MCA filings, the company has open charges of ₹2,649.5 Cr and satisfied charges of ₹103.5 Cr on record. Court records list 3 cases involving the company, including 3 filed against it. The company has 3 deals on record (3 funding rounds), with disclosed funding of ₹20.99 Cr; the latest was in March 2011. Its 10 peer companies in the Cleantech industry (Solar Power) are compared by revenue, 5 larger and 5 smaller; the largest is Solar Quest Energy Private Limited with revenue of ₹7.57 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 pacepowerindia.com.
Company Details of Pace Renewable Energies Private Limited
CIN U29307KA2010PTC053077
Registration Number 053077
Incorporation Date 31 March 2010
ROC Bangalore
Listing Status Unlisted
Company Status Active
Date of Last AGM 30 September 2025
Date of Balance Sheet 31 March 2025
Parent Company Pace Digitek Infra Private Limited
Compliance Status Active Compliant
Recognitions & Rankings of Pace Renewable Energies
Contact Details
- EmailLocked
- TelephoneLocked
- Website
- Social MediaLocked
- Registered AddressPlot No. V – 12 Industrial Estate Kumbalgodu Bangalore – Mysore Highway, Karnataka, India – 560074
- IndustryEnvironment, Solar Energy Solutions
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Business Activity of Pace Renewable Energies Private Limited
The main business activity of Pace Renewable Energies is electricity, gas, steam and air condition supply. In detail, this covers electric power generation, transmission and distribution.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| D | Electricity, gas, steam and air condition supply | D1 | Electric power generation, transmission and distribution | Locked |
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Turnover share and past changes in activity are in the company report.
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Financials of Pace Renewable Energies Private Limited FY 2025 filings available
Pace Renewable Energies Private Limited reported revenue of ₹7.49 Cr for FY 2025.
Revenue · FY 2025
₹7.49 Cr
Net loss · FY 2025
₹14.53 Cr margin -194.1%
EBITDA · FY 2025
-₹25.75 Cr margin -343.9%
Compounded Annual Growth Rate (CAGR) of Pace Renewable Energies Private Limited
Revenue CAGR growth
3 years · compounded
▼ 34%
5 years · compounded
▼ 29%
Revenue has declined at a compounded annual rate (CAGR) of 29% over five years. 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 Pace Renewable Energies 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 | -₹25.75 Cr | •••• | •••• | •••• | •••• |
| Profit Before Tax | •••• | •••• | •••• | •••• | •••• |
| Tax Expense | •••• | •••• | •••• | •••• | •••• |
| Net Profit (PAT) | -₹14.53 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 | •••• | •••• | •••• | •••• | •••• |
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| Cash and Bank Balance | •••• | •••• | •••• | •••• | •••• |
| Total Assets | •••• | •••• | •••• | •••• | •••• |
Financial Ratios of Pace Renewable Energies Private Limited
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | -343.9% | •••• | •••• | •••• | •••• |
| Net Profit Margin | -194.1% | •••• | •••• | •••• | •••• |
| 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 Pace Renewable Energies are in the company report.
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Financial statements from 2015
Earlier years and trend charts are in the company report.
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Board of Directors of Pace Renewable Energies Private Limited
Pace Renewable Energies has 3 current directors and 4 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Maddisetty Padma | Director | 31 Mar 2010 | 16 Years 6 Months | Current |
| Rajiv Maddisetty Also directs: Pace Digitek Limited, Pace Ecoplanet Solace Private Limited, Transgreenx Asset Holdco Private Limited and 5 more | Director | 09 Jul 2019 | 7 Years 3 Months | Current |
| Venugopalrao Maddisetty Also directs: Pace Digitek Limited, Pace Ecoplanet Solace Private Limited, Transgreenx Asset Holdco Private Limited and 4 more | Director | 31 Mar 2010 | 16 Years 6 Months | Current |
Peer Comparison of Pace Renewable Energies Private Limited
Pace Renewable Energies 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 |
|---|---|---|---|---|---|---|
| Solar Quest Energy Private Limited | ₹7.57 Cr (FY 2025) | •••• | •••• | 216.0% | •••• | Chennai, Tamil Nadu, India |
| Radiance MH Sunrise Seventeen Private Limited | ₹7.57 Cr (FY 2025) | •••• | •••• | 1.0% | •••• | Mumbai, Maharashtra, India |
| Euro Solar Power Private Limited | ₹7.57 Cr (FY 2025) | •••• | •••• | -22.0% | •••• | Ahmedabad, Gujarat, India |
| Madhav Solar (Vadodara Rooftop) Private Limited | ₹7.52 Cr (FY 2023) | •••• | •••• | 12.0% | •••• | Vadodara, Gujarat, India |
| Azure Power Thirty Eight Private Limited | ₹7.51 Cr (FY 2025) | •••• | •••• | 5.0% | •••• | New Delhi, Delhi, India |
| Pace Renewable Energies Private Limited this company | ₹7.49 Cr (FY 2025) | •••• | •••• | •••• | Bangalore, Karnataka, India | |
| Aditya Medisales Limited | ₹7.48 Cr (FY 2025) | •••• | •••• | 63.0% | •••• | Vadodara, Gujarat, India |
| Solark Infrasolutions Private Limited | ₹7.46 Cr (FY 2025) | •••• | •••• | 6981.0% | •••• | Surat, Gujarat, India |
| Clean Switch India Private Limited | ₹7.45 Cr (FY 2022) | •••• | •••• | 0.0% | •••• | Hyderabad, Telangana, India |
| Fpel Radiant Energy Private Limited | ₹7.41 Cr (FY 2024) | •••• | •••• | 32237.0% | •••• | Hyderabad, Telangana, India |
| Sunstrength Renewables Private Limited | ₹7.33 Cr (FY 2025) | •••• | •••• | 12.0% | •••• | Mumbai, Maharashtra, India |
Peers are the five companies nearest above and the five nearest below Pace Renewable Energies 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 Pace Renewable Energies Private Limited
Pace Renewable Energies Private Limited is audited by S S Kothari Mehta & Co. LLP for the financial year 2025.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| S S Kothari Mehta & Co. LLP | Locked | Locked | Locked |
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Complete auditor history
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Ownership and Shareholding of Pace Renewable Energies Private Limited
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Charges & Borrowings of Pace Renewable Energies Private Limited
Open charges
₹2,649.5 Cr
Satisfied charges
₹103.5 Cr
Breakdown by lending institutions
Latest charge details
| Date | Lender | Amount | Status |
|---|---|---|---|
| 28 Aug 2025 | Others | ₹1,221.5 Cr | Open |
| 23 Jan 2024 | Canara Bank | ₹1,308 Cr | Open |
| 23 Jan 2024 | Canara Bank | ₹120 Cr | Open |
| 30 Jun 2014 | Canara Bank | ₹32.5 Cr | Satisfied |
| 20 Dec 2010 | Axis Bank Limited | ₹71 Cr | Satisfied |
Total charge records: 5 View all charges
Deals & Funding of Pace Renewable Energies Private Limited
Pace Renewable Energies Private Limited has 3 deals on record (3 funding rounds), with disclosed funding of ₹20.99 Cr; the latest was in March 2011.
Total deals
3
Funding rounds
3
Disclosed funding
₹20.99 Cr
Deals on record (3 of 3)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2011 | Funding round | ₹11 Cr | Investors: Vax Housing Finance Corporation Limited , Suburban Cooling Towers Private Limited, Ajanta Tradelink Private Limited |
| Sep 2010 | Funding round | ₹7.9 Cr | Investors: Pace Digitek Limited , 2 individuals |
| Aug 2010 | Funding round | ₹2.09 Cr | Investors: Pace Digitek Limited , 2 individuals |
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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 Pace Renewable Energies Private Limited
Pace Renewable Energies Private Limited has 3 court cases on record: 3 filed against it. All cases are disposed.
Total cases
3
Filed against the company
3
Disposed
3
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 3 | 3 | 0 |
Cases on record (2 of 3)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, BENGALURU, Karnataka | Execution petition | Filed against the company by M North Eastern Carrying Corporation Limited | Disposed |
| District court, BENGALURU, Karnataka | Civil suit | Filed against the company by M S North Eastern Carrying Corporation Ltd | Disposed |
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Full case history
All 3 cases with case numbers, court, year-wise trend, opposite parties and decision dates are in the company report.
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Employees and EPFO Compliance at Pace Renewable Energies Private Limited
Pace Renewable Energies Private Limited has a workforce of 2 employees as of Oct 10, 2025.
Employee count
2
Active EPFO establishments
1
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Employee and EPFO history
Monthly headcount, contribution history and filing status are in the company report.
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Recent Activity on Pace Renewable Energies Private Limited
Pace Renewable Energies Private Limited has 6 board changes on record since 2010: 4 appointments and 2 cessations. The latest: Meghana Purushotham Manchaiah was appointed as Company Secretary on 10 Mar 2025.
AGM
Pace Renewable Energies Private Limited last Annual general meeting of members was held on 30 Sep 2025 as per latest MCA records.
Charges
A charge with Others amounted to Rs. 1,221.50 Cr with Charge ID 101163273 was registered on 28 Aug 2025.
Filing
Pace Renewable Energies Private Limited has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Bangalore.
Appointed
Meghana Purushotham Manchaiah was appointed as Company Secretary.
Charges
A charge with Canara Bank amounted to Rs. 1,308.00 Cr with Charge ID 100862341 was registered on 23 Jan 2024.
Charges
A charge with Canara Bank amounted to Rs. 120.00 Cr with Charge ID 100862349 was registered on 23 Jan 2024.
Charges
A charge registered on 30 Jun 2014 via Charge ID 10527817 with Canara Bank was fully satisfied on 08 Jun 2020.
Ceased
Rajiv Maddisetty ceased to be Additional Director.
Appointed
Rajiv Maddisetty was appointed as Director.
Charges
A charge registered on 20 Dec 2010 via Charge ID 10256808 with Axis Bank Limited was fully satisfied on 30 Sep 2015.
Ceased
Kammisetty Vasudevakumar ceased to be Director.
Charges
A charge with Canara Bank amounted to Rs. 32.50 Cr with Charge ID 10527817 was registered on 30 Jun 2014.
4 earlier events are listed in the company report.
Credit Ratings, Litigation & Regulatory Alerts for Pace Renewable Energies Private Limited
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MSME Payment Delays by Pace Renewable Energies Private Limited
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MSME payment history
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Subsidiaries & Group Companies of Pace Renewable Energies Private Limited
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Corporate group structure
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GST Compliance of Pace Renewable Energies Private Limited
Pace Renewable Energies has 12 GST registrations: 5 active and 7 cancelled or inactive. The first 4 active GSTINs are listed below.
Total GSTINs
12
Active
5
Cancelled / inactive
7
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 29AAFCP3919H1Z6 | Karnataka | Active | 01 Jul 2017 |
| 29AAFCP3919H2Z5 | Karnataka | Active | 17 Jul 2017 |
| 10AAFCP3919H1ZP | Bihar | Active | 01 Jul 2017 |
| 20AAFCP3919H1ZO | Jharkhand | Active | 01 Jul 2017 |
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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 Pace Renewable Energies Private Limited
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MCA filings and documents
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Frequently Asked Questions about Pace Renewable Energies Private Limited
Pace Renewable Energies 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 31 March 2010 (16+ years old) and is registered under CIN U29307KA2010PTC053077.
Pace Renewable Energies reported revenue of ₹7.49 Cr for FY 2025.
Pace Renewable Energies has 3 current directors:
- Maddisetty Padma - Director
- Rajiv Maddisetty - Director
- Venugopalrao Maddisetty - Director
Pace Renewable Energies reported a net loss of ₹14.53 Cr (net margin -194.1%) and EBITDA of -₹25.75 Cr (EBITDA margin -343.9%) for FY 2025, as per its filed financial statements.
The compounded annual growth rate (CAGR) of the revenue of Pace Renewable Energies is -34% over three years and -29% over five years. CAGR is the steady yearly rate that links the first and the last year.
The GSTIN of Pace Renewable Energies is 29AAFCP3919H1Z6, registered in Karnataka. The company has 12 GST registrations in all, of which 5 are active and 7 are cancelled or inactive. Other active GSTINs include 29AAFCP3919H2Z5 (Karnataka), 10AAFCP3919H1ZP (Bihar), 20AAFCP3919H1ZO (Jharkhand).
The CIN (Corporate Identification Number) of Pace Renewable Energies is U29307KA2010PTC053077. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Pace Renewable Energies has 3 court cases on record: 3 filed against it.
Pace Renewable Energies was incorporated on 31 March 2010, making it 16+ years old. It is registered with the Registrar of Companies, Bangalore.
Pace Renewable Energies has 3 deals on record (3 funding rounds), with disclosed funding of ₹20.99 Cr; the latest was in March 2011.
The peers of Pace Renewable Energies by revenue are Solar Quest Energy Private Limited, Radiance MH Sunrise Seventeen Private Limited, Euro Solar Power Private Limited, Madhav Solar (Vadodara Rooftop) Private Limited, Azure Power Thirty Eight Private Limited and 5 more, all in the Cleantech industry (Solar Power).