About Panama Wind Energy Private Limited
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Panama Wind Energy Private Limited is a private limited company based in Pune, Maharashtra, India, a subsidiary of O2 Power Sg. Pte. Ltd.. It operates in the wind energy solutions segment of the environmental services sector. It was incorporated on 25 July 2003 and has been in existence for over 23 years.
The company is registered with the Registrar of Companies (ROC), Pune, under CIN U40108PN2003PTC018172. Its GSTIN is 27AADCP3573H1ZA (Maharashtra).
The company has an authorised share capital of ₹103.5 Cr and a paid-up capital of ₹28 Cr. It is led by directors including Prakash Mahadeo Surve and Ashok Pundalik Shintre.
Its last annual general meeting (AGM) was held on 29 August 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Pune, Maharashtra.
As per the financials filed for FY 2025, the company reported a revenue of ₹79.35 Cr, a decline of 6% compared to the previous year. For the same year it recorded a net profit of ₹12.22 Cr (net margin 15.4%) and EBITDA of ₹62.44 Cr (EBITDA margin 78.7%). Revenue has declined at a compounded annual rate (CAGR) of 25% over three years and 3% over five years.
The company has about 8 employees on its provident fund (EPFO) records.
The company is associated with 2 brands: Panama wind energy and The Panama Group. As per MCA filings, the company has open charges of ₹1,095.6 Cr and satisfied charges of ₹1,561.08 Cr on record. Court records list 98 cases involving the company, including 43 filed by the company and 55 filed against it; 22 cases are pending. The company has 10 deals on record (4 acquisitions, 4 funding rounds, 2 secondary share transfers), with disclosed funding of ₹100.41 Cr; the latest was in February 2023. Its 3 peer companies in the Cleantech industry (Wind Power), with the same principal business activity (electric power generation, transmission and distribution) are compared by revenue, 2 larger and 1 smaller; the largest is Renew Wind Energy (Ap) Private Limited with revenue of ₹81.53 Cr. The company has 4 MSME Form 1 returns on record between 2015 and 2020, listing 8 overdue payments to 3 micro and small suppliers.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website panama-group.com.
Company details
Contact details
Panama Wind Energy Private Limited's registered office is in Pune, Maharashtra. Its website is panama-group.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressTrios Coworking Private Limited Office No. 301, 3rd Floor Lalwani House Plot No. 79 Sakore Nagar Viman Nagar, Pune, Maharashtra, India – 411014
- IndustryEnvironment, Wind Energy Solutions
To see the full contact details of Panama Wind 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
Panama Wind Energy operates two associated brands: Panama wind energy and The Panama Group. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Independently produces energy from wind sources. | panamawind.co.in | |
| Provider of agriculture, renewable energy, water resources, and real estate services | panama-group.com |
Business activity
The main business activity of Panama Wind 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 Panama Wind Energy Private Limited, buy the company report.
Financials of Panama Wind Energy Private Limited
FY 2025 filings availablePanama Wind Energy Private Limited reported revenue of ₹79.35 Cr (down 6% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue has declined at a compounded annual rate (CAGR) of 3% over five years, including a 6% fall in the latest year. EBITDA rose 23% 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 | ₹62.44 Cr | ||||
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| Net Profit (PAT) | ₹12.22 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 | 78.7% | ||||
| Net Profit Margin | 15.4% | ||||
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To see the full financial statements and ratios of Panama Wind Energy Private Limited, buy the company report.
Board of directors of Panama Wind Energy Private Limited
Panama Wind Energy has 4 current directors and 29 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Prakash Mahadeo Surve Also directs: Es Sun Power Private Limited, Panama Wind Energy Godawari Private Limited, Panama Wind Energy Shivneri Private Limited and 1 more | Director | 14 Mar 2023 | 3 Years 7 Months | Current |
| Ashok Pundalik Shintre | Director | 23 Jun 2023 | 3 Years 4 Months | Current |
| Mahesh Kashinath Akuskar | Additional Director | 30 Apr 2025 | 1 Years 6 Months | Current |
| Yogesh Tukaram Pawar | Additional Director | 14 Nov 2025 | 0 Years 11 Months | Current |
Peer comparison
Panama Wind Energy Private Limited is compared with the 3 companies closest to it by revenue in the Cleantech industry (Wind 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 |
|---|---|---|---|---|---|---|
| Renew Wind Energy (Ap) Private Limited | ₹81.53 Cr (FY 2025) | -1.0% | New Delhi, Delhi, India | |||
| Atlanta Power Private Limited | ₹79.51 Cr (FY 2024) | 168.0% | Satara, Maharashtra, India | |||
| Panama Wind Energy Private Limitedthis company | ₹79.35 Cr (FY 2025) | ₹12.22 Cr | 15.4% | -6.0% | 8 | Pune, Maharashtra, India |
| Avon Energies and Investments Private Limited | ₹76.81 Cr (FY 2025) | -27.0% | Ludhiana, Punjab, India |
To see the full peer comparison of Panama Wind Energy Private Limited, buy the company report.
Auditor
Panama Wind Energy Private Limited is audited by Sharad Shah & Co. for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| Sharad Shah & Co. | FY 2023 | 109931W |
Shareholding
The shareholding of Panama Wind 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 Panama Wind Energy Private Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 11 Nov 2024 | 101010783 | Axis Bank Limited | ₹34 Cr | Open | |
| 16 Mar 2023 | 100698548 | Idbi Trusteeship Services Limited | ₹582.6 Cr | Open | |
| 17 Feb 2023 | 100686518 | Idbi Trusteeship Services Limited | ₹78 Cr | Open | |
| 17 Nov 2016 | 100074629 | Idbi Trusteeship Services Limited | ₹38 Cr | Open | |
| 27 Oct 2016 | 100061655 | Idbi Trusteeship Services Limited | ₹38 Cr | Open |
To see the full charge records of Panama Wind Energy Private Limited, buy the company report.
Total charge records: 9 View all charges
Deals & funding
Panama Wind Energy Private Limited has 10 deals on record (4 acquisitions, 4 funding rounds, 2 secondary share transfers), with disclosed funding of ₹100.41 Cr; the latest was in February 2023.
Deals on record (5 of 10)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Feb 2023 | Acquisition | Undisclosed | Buyer: O2 Power Private Limited Seller: Berkeley Energy |
| Dec 2022 | Secondary share transfer | Undisclosed | Buyer: O2 Power SG Pte Limited Seller: Agriennergy Partner Private Limited , Berkeley Energy |
| Jun 2015 | Funding round | ₹13 Cr | Investors: Berkeley Energy |
| Jan 2011 | Acquisition | ₹16.86 Cr | Buyer: Agriennergy Partner Private Limited Seller: 2 individuals |
| Jan 2011 | Funding round | ₹8.24 Cr | Investors: Agriennergy Partner Private Limited |
To see the full deal history of Panama Wind Energy 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
Panama Wind Energy Private Limited has 98 court cases on record: 43 filed by Panama Wind Energy, 55 filed against it. 22 cases are pending and 76 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 84 | 50 | 20 |
| High courts | 12 | 4 | 2 |
| NCLT | 2 | 1 | 0 |
Cases on record (5 of 98)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court, MAHARASHTRA | Writ petition | Filed by the company against Maharashtra State Electricity Distribution Company Limited and 4 others | Disposed |
| Bombay High Court | Writ petition | Filed by the company against Panama Wind Energy Godawari Pvt Ltd and 2 others | Disposed |
| Bombay High Court | Writ petition | Filed against the company | Pending |
| District court, Satara, Maharashtra | Court case (Reg Dkst) | Filed against the company by individuals | Pending |
| District court, Satara, Maharashtra | Civil suit | Filed by the company against individuals | Pending |
To see the full case history of Panama Wind 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
Panama Wind Energy Private Limited was last rated by Icra on 09 Jul 2021.
| Rating agency | Rated on | Rating |
|---|---|---|
| Icra | 09 Jul 2021 |
To see the full credit ratings and regulatory alerts of Panama Wind Energy Private Limited, buy the company report.
MSME payment delays
Panama Wind Energy Private Limited has 4 MSME Form 1 returns on record between 2015 and 2020, listing 8 overdue payments to 3 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 (3 of 3)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Eki Energy Services Limited | |||
| Siloeya Office Equipments India Private Limited | |||
| Unique Suppliers and Services |
To see the full MSME payment records of Panama Wind Energy Private Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Employees & EPFO
Panama Wind Energy Private Limited has a workforce of 8 employees on its EPFO records as of Apr 08, 2024, across 1 active EPFO establishment.
GST
Panama Wind Energy has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AADCP3573H1ZA | Maharashtra | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Panama Wind Energy Private Limited, buy the company report.
Recent activity
Panama Wind Energy Private Limited has 30 board changes on record since 2010: 4 appointments and 26 cessations. The latest: Yogesh Tukaram Pawar was appointed as Additional Director on 14 Nov 2025.
35 earlier events are in the company report.
Frequently asked questions
Panama Wind Energy is an active private limited company based in Pune, Maharashtra, India. The company works in wind energy solutions, within the environment industry. It was incorporated on 25 July 2003 (23+ years old) and is registered under CIN U40108PN2003PTC018172.
Panama Wind Energy has 4 current directors:
- Prakash Mahadeo Surve - Director
- Ashok Pundalik Shintre - Director
- Mahesh Kashinath Akuskar - Additional Director
- Yogesh Tukaram Pawar - Additional Director
The latest financial statements of Panama Wind Energy on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 29 August 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Panama Wind Energy is 27AADCP3573H1ZA, registered in Maharashtra.
The CIN (Corporate Identification Number) of Panama Wind Energy is U40108PN2003PTC018172. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Panama Wind Energy has 98 court cases on record: 43 filed by the company and 55 filed against it. 22 are pending. Most are in the district courts.
Panama Wind Energy was incorporated on 25 July 2003, making it 23+ years old. It is registered with the Registrar of Companies, Pune.
Panama Wind Energy has 10 deals on record (4 acquisitions, 4 funding rounds, 2 secondary share transfers), with disclosed funding of ₹100.41 Cr; the latest was in February 2023.
The peers of Panama Wind Energy by revenue are Renew Wind Energy (Ap) Private Limited, Atlanta Power Private Limited, Avon Energies and Investments Private Limited, all in the Cleantech industry (Wind Power), with the same principal business activity (electric power generation, transmission and distribution).
Yogesh Tukaram Pawar was appointed as Additional Director on 14 Nov 2025. Mahesh Kashinath Akuskar ceased to be Additional Director on 28 Aug 2025. Mahesh Kashinath Akuskar was appointed as Additional Director on 30 Apr 2025. Panama Wind Energy has 30 board changes on record in total.
Panama Wind Energy has 4 MSME Form 1 returns on record between 2015 and 2020, listing 8 overdue payments to 3 micro and small suppliers. The latest return was filed on 31 Dec 2020.
Panama Wind Energy can be reached through the website panama-group.com. Its registered office is in Pune, Maharashtra, India.
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