Palace Solar Energy Private Limited
About Palace Solar Energy Private Limited
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Palace Solar Energy Private Limited is a private limited company based in Mumbai, Maharashtra, India, a subsidiary of Electrotherm Renewables Private Limited. It operates in the solar energy solutions segment of the environmental services sector. It was incorporated on 23 October 2007 and has been in existence for over 19 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U40102MH2007PTC175289. Its GSTIN is 27AALCS5133N1ZU (Maharashtra). The company holds 2 GST registrations, all of them active.
The company has an authorised share capital of ₹13.05 Cr and a paid-up capital of ₹13.05 Cr. It was formerly known as Inspira Solar Energy Private Limited and Inspira Solar Energy Limited. It is led by directors including Subhash Chandra Bhargava and Piyush Maheshwari.
Its last annual general meeting (AGM) was held on 17 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at A – 1 Aditya Birla Centre S.K. Ahire Marg Worli, Mumbai, Maharashtra, India – 400030.
As per the financials filed for FY 2025, the company reported a revenue of ₹19.73 Cr, a decline of 45% compared to the previous year. For the same year it recorded a net profit of ₹8.29 Cr (net margin 42%) and EBITDA of ₹16.22 Cr (EBITDA margin 82.2%). Revenue has declined at a compounded annual rate (CAGR) of 18% over three years and 11% over five years.
The company has about 18 employees on its provident fund (EPFO) records.
As per MCA filings, the company has satisfied charges of ₹150 Cr on record. Court records list 4 cases involving the company, including 2 filed by the company and 2 filed against it; 3 cases are pending.
The current compliance status is marked as compliant by the Registrar of Companies.
Company details
Name history
Palace Solar Energy has undergone 6 name changes throughout its history. The current legal name is Palace Solar Energy Private Limited.
| Company Name | Status |
|---|---|
| Palace Solar Energy Private Limited | Current |
| Inspira Solar Energy Private Limited | Previous |
| Inspira Solar Energy Limited | Previous |
| Seriso Agro Private Limited | Previous |
| Seriso Acres Limited | Previous |
| Seriso Acres Private Limited | Previous |
| Seriso Acres Limited | Previous |
CIN history
Palace Solar Energy has 2 previous CINs, indicating changes in the company's corporate structure or registration details. The current CIN is U40102MH2007PTC175289, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U40102MH2007PTC175289 | Current |
| U40102MH2007PLC175289 | Previous |
| U01403MH2007PLC175289 | Previous |
Contact details
Palace Solar Energy Private Limited's registered office is in Mumbai, Maharashtra. Its e-mail address is in the company report.
- Email
- Registered AddressA – 1 Aditya Birla Centre S.K. Ahire Marg Worli, Mumbai, Maharashtra, India – 400030
- IndustryEnvironment, Solar Energy Solutions
To see the full contact details of Palace 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
Business activity
The main business activity of Palace 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 Palace Solar Energy Private Limited, buy the company report.
Financials of Palace Solar Energy Private Limited
FY 2025 filings availablePalace Solar Energy Private Limited reported revenue of ₹19.73 Cr (down 45% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue has declined at a compounded annual rate (CAGR) of 11% over five years, including a 45% fall in the latest year. EBITDA fell 39% 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 | ₹16.22 Cr | ||||
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| Net Profit (PAT) | ₹8.29 Cr | ||||
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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 | 82.2% | ||||
| Net Profit Margin | 42% | ||||
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To see the full financial statements and ratios of Palace Solar Energy Private Limited, buy the company report.
Board of directors of Palace Solar Energy Private Limited
Palace Solar Energy has 3 current directors and 20 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Subhash Chandra Bhargava Also directs: Aditya Birla Renewables SPV 1 Limited, Abrel (RJ) Projects Limited, Aditya Birla Renewables Energy Limited and 3 more | Director | 24 Sep 2020 | 6 Years 1 Months | Current |
| Piyush Maheshwari Also directs: Aditya Birla Renewables SPV 1 Limited, Aditya Birla Renewables Energy Limited, Aditya Birla Renewables Solar Limited and 5 more | Director | 05 Feb 2024 | 2 Years 9 Months | Current |
| Sanjay Kumar Patra Also directs: Aditya Birla Renewables SPV 1 Limited, Abrel Century Energy Limited, Aditya Birla Renewables Subsidiary Limited and 5 more | Director | 11 Nov 2021 | 4 Years 11 Months | Current |
Peer comparison
Palace Solar Energy Private Limited is compared with the 9 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 |
|---|---|---|---|---|---|---|
| RT Renewable Energy India Private Limited | ₹20.21 Cr (FY 2025) | -5.0% | Hyderabad, Telangana, India | |||
| Renew Wind Energy (Karnataka 4) Private Limited | ₹20.13 Cr (FY 2025) | -15.0% | New Delhi, Delhi, India | |||
| SRV Solar Urja Private Limited | ₹20.12 Cr (FY 2025) | 294.0% | Raipur, Chhattisgarh, India | |||
| Huoban Private Limited | ₹19.96 Cr (FY 2025) | 279.0% | Hyderabad, Telangana, India | |||
| Atria Power Corporation Private Limited | ₹19.77 Cr (FY 2024) | 10.0% | Bangalore, Karnataka, India | |||
| Palace Solar Energy Private Limitedthis company | ₹19.73 Cr (FY 2025) | ₹8.29 Cr | 42% | -45.0% | 18 | Mumbai, Maharashtra, India |
| MGM Green Energy Limited | ₹19.7 Cr (FY 2025) | 127.0% | Bhubaneswar, Odisha, India | |||
| PSPN Synergy Private Limited | ₹19.67 Cr (FY 2025) | 6.0% | Kanpur, Uttar Pradesh, India | |||
| Shivalakha Solar Energy Private Limited | ₹19.56 Cr (FY 2024) | -15.0% | Hyderabad, Telangana, India | |||
| Renew Wind Energy (Karnataka 3) Private Limited | ₹19.51 Cr (FY 2025) | -5.0% | New Delhi, Delhi, India |
To see the full peer comparison of Palace Solar Energy Private Limited, buy the company report.
Auditor
Palace Solar Energy Private Limited is audited by SINGHI & CO for the financial year 2020.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| SINGHI & CO | FY 2020 | 302049E |
Shareholding
The shareholding of Palace Solar Energy Private Limited is on record for 3 financial years, the latest being FY 2020, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2020 | FY 2017 | FY 2016 |
|---|---|---|---|
| Promoters | |||
| Domestic institutional investors (DII) | |||
| Foreign institutional investors (FII) | |||
| Public | |||
| Others |
To see the full shareholding pattern of Palace Solar Energy Private Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 07 May 2013 | 10426795 | Axis Trustee Services Limited | ₹150 Cr | Satisfied |
To see the full charge records of Palace Solar Energy Private Limited, buy the company report.
Total charge records: 1 View all charges
Legal cases
Palace Solar Energy Private Limited has 4 court cases on record: 2 filed by Palace Solar Energy, 2 filed against it. 3 cases are pending and 1 is disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 2 | 0 | 1 |
| Supreme Court | 2 | 2 | 2 |
Cases on record (4 of 4)
| Court | Type of case | Party | Status |
|---|---|---|---|
| Supreme Court | Court case (1901-Energy Laws - Electricity, Petroleum, Oil and Natural Gas : Energy laws - Electricity, Petroleum, Oil and Natural Gas) | Filed against the company by Moser Baer Energy Development Ltd(Now Porbandar Solar Power Ltd) Through Its Authorised Signatory Manish Verma Through Its Authorised Signatory Manish Verma 235, Okhla Industrial Estate, Phase III, New Delhi , District: New Delhi ,New Delhi , Delhi | Pending |
| Supreme Court | Court case (1901-Energy Laws - Electricity, Petroleum, Oil and Natural Gas : Energy laws - Electricity, Petroleum, Oil and Natural Gas) | Filed against the company by Gujarat Urja Vikas Nigam Limited General Manager (Com) General Manager (Com) Sardar Patel Vidyut Bhavan, Race Course , District: Vadodara ,Vadodara , Gujarat | Pending |
| Bombay High Court | Court case (LPETN) | Filed by the company against an individual | Pending |
| Bombay High Court | Court case (S) | Filed by the company against an individual | Disposed |
To see the full case history of Palace 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
Palace Solar Energy Private Limited was last rated by Crisil on 28 May 2020.
| Rating agency | Rated on | Rating |
|---|---|---|
| Crisil | 28 May 2020 |
To see the full credit ratings and regulatory alerts of Palace Solar Energy Private Limited, buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Palace Solar Energy Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Employees & EPFO
Palace Solar Energy Private Limited has a workforce of 18 employees on its EPFO records as of Apr 06, 2024, across 1 active EPFO establishment.
GST
Palace Solar Energy has 2 GST registrations: 2 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AALCS5133N1ZU | Maharashtra | Active | 01 Jul 2017 |
| 24AALCS5133N1Z0 | Gujarat | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Palace Solar Energy Private Limited, buy the company report.
Recent activity
Palace Solar Energy Private Limited has 22 board changes on record since 2010: 4 appointments and 18 cessations. The latest: Sandeep Santosh Sahay was appointed as Manager on 01 Apr 2025.
16 earlier events are in the company report.
Frequently asked questions
Palace Solar Energy 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 23 October 2007 (19+ years old) and is registered under CIN U40102MH2007PTC175289.
Palace Solar Energy has 3 current directors:
- Subhash Chandra Bhargava - Director
- Piyush Maheshwari - Director
- Sanjay Kumar Patra - Director
The latest financial statements of Palace Solar Energy on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 17 September 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Palace Solar Energy is 27AALCS5133N1ZU, registered in Maharashtra. The company has 2 GST registrations in all, of which 2 are active. Other active GSTINs include 24AALCS5133N1Z0 (Gujarat).
The CIN (Corporate Identification Number) of Palace Solar Energy is U40102MH2007PTC175289. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Palace Solar Energy has 4 court cases on record: 2 filed by the company and 2 filed against it. 3 are pending. Most are in the high courts.
Palace Solar Energy was incorporated on 23 October 2007, making it 19+ years old. It is registered with the Registrar of Companies, Mumbai.
The peers of Palace Solar Energy by revenue are RT Renewable Energy India Private Limited, Renew Wind Energy (Karnataka 4) Private Limited, SRV Solar Urja Private Limited, Huoban Private Limited, Atria Power Corporation Private Limited and 4 more, all in the Cleantech industry (Solar Power), with the same principal business activity (electric power generation, transmission and distribution).
Sandeep Santosh Sahay was appointed as Manager on 01 Apr 2025. Piyush Maheshwari ceased to be Additional Director on 25 Sep 2024. Piyush Maheshwari was appointed as Director on 05 Feb 2024. Palace Solar Energy has 22 board changes on record in total.
The registered office of Palace Solar Energy is at A – 1 Aditya Birla Centre S.K. Ahire Marg Worli, Mumbai, Maharashtra, India – 400030.
Palace Solar Energy operates in the environment industry, in the solar energy solutions segment.
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