About Radiance Renewables Private Limited
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Radiance Renewables Private Limited is a private limited company based in Mumbai, Maharashtra, India, a subsidiary of Green Growth Equity Fund. It operates in the power infrastructure and energy projects segment of the infrastructure and utilities sector. It was incorporated on 20 April 2018 and has been in existence for over 8 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U74999MH2018PTC308291. Its GSTIN is 27AAICR9051K1ZV (Maharashtra). The company holds 5 GST registrations, of which 4 are active.
The company has an authorised share capital of ₹2,500 Cr and a paid-up capital of ₹1,420 Cr. It is led by directors including Nitin Surinder Bhatia (Whole-Time Director) and Prasanna Prakash Desai.
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 Mumbai, Maharashtra.
As per the financials filed for FY 2025, the company reported a revenue of ₹392.11 Cr, a growth of 35% compared to the previous year. For the same year it recorded a net loss of ₹123.36 Cr (net margin -31.5%) and EBITDA of ₹164.1 Cr (EBITDA margin 41.8%). Revenue has grown at a compounded annual rate (CAGR) of 39% over three years and 127% over five years.
The company has about 107 employees on its provident fund (EPFO) records. Its group structure includes 74 subsidiaries.
The company is associated with 2 brands: Radiance Renewables and EverSource Capital. As per MCA filings, the company has open charges of ₹3,976.24 Cr and satisfied charges of ₹2,748.76 Cr on record. Court records list 1 case involving the company, including 1 filed by the company; 1 case is pending. The company has 7 deals on record (3 acquisitions, 2 rights issues, 1 secondary share transfer), with disclosed funding of ₹907.2 Cr; the latest was in February 2026. The company has 8 MSME Form 1 returns on record between 2020 and 2024, listing 268 overdue payments to 48 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 eversourcecapital.com.
Company details
Contact details
Radiance Renewables Private Limited's registered office is in Mumbai, Maharashtra. Its website is eversourcecapital.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered Address611 Synergy Court Off., Ramchandra Lane Kanchpada, Mumbai, Maharashtra, India – 400064
- IndustryInfrastructure and Utilities, Power Infrastructure & Energy Projects
To see the full contact details of Radiance Renewables 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
Radiance Renewables operates two associated brands: Radiance Renewables and EverSource Capital. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Open access and behind-the-meter solar solutions are provided. | radiancerenewables.com | |
| Infrastructure investment and management are conducted in India. | eversourcecapital.com |
Business activity
The main business activities of Radiance Renewables are professional, scientific and technical and trade. In detail, this covers other professional, scientific and technical activities and retail trading. 2 activity segments are registered with the MCA.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| M | Professional, Scientific and Technical | M9 | Other professional, scientific and technical activities | |
| G | Trade | G2 | Retail Trading |
To see the full business activity and turnover split of Radiance Renewables Private Limited, buy the company report.
Financials of Radiance Renewables Private Limited
FY 2025 filings availableRadiance Renewables Private Limited reported revenue of ₹392.11 Cr (up 35% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue has grown at a compounded annual rate (CAGR) of 127% over five years, including 35% growth in the latest year. EBITDA rose 34% 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 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
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| Other Income | |||||
| Total Revenue | ₹392.11 Cr | ||||
| Cost of Materials Consumed | |||||
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| Total Expenses | |||||
| EBITDA | ₹164.1 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | -₹123.36 Cr | ||||
| Balance Sheet | |||||
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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 | 41.8% | ||||
| Net Profit Margin | -31.5% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
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To see the full financial statements and ratios of Radiance Renewables Private Limited, buy the company report.
Board of directors of Radiance Renewables Private Limited
Radiance Renewables has 4 current directors and 9 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Prasanna Prakash Desai Also directs: Greencell Mobility Private Limited | Director | 01 Nov 2018 | 8 Years 0 Months | Current |
| Kuldipkumar Dayaram Kaura Also directs: Tecso Charge Zone Limited, Satvik Karma Foundation | Director | 24 Jun 2022 | 4 Years 4 Months | Current |
| Bhavna Bindra | Director | 28 Aug 2025 | 1 Years 2 Months | Current |
| Nitin Surinder Bhatia Also directs: Innovatus Technologies Private Limited | Whole-Time Director | 02 Feb 2026 | 0 Years 9 Months | Current |
Auditor
Radiance Renewables Private Limited is audited by BSR & Co. LLP for the financial year 2022.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| BSR & Co. LLP | FY 2022 | 101248W/W-100022 |
Shareholding
The shareholding of Radiance Renewables Private Limited is on record for 5 financial years, the latest being FY 2024, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Radiance Renewables Private Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 25 Sep 2026 | 101400948 | Others | ₹400 Cr | Open | |
| 23 Mar 2026 | 101263181 | Others | ₹22.12 Cr | Open | |
| 23 Mar 2026 | 101263196 | Others | ₹33.42 Cr | Open | |
| 23 Mar 2026 | 101274801 | Idbi Trusteeship Services Limited | ₹31.15 Cr | Open | |
| 23 Mar 2026 | 101274817 | Others | ₹9.75 Cr | Open |
To see the full charge records of Radiance Renewables Private Limited, buy the company report.
Total charge records: 111 View all charges
Deals & funding
Radiance Renewables Private Limited has 7 deals on record (3 acquisitions, 2 rights issues, 1 secondary share transfer), with disclosed funding of ₹907.2 Cr; the latest was in February 2026.
Deals on record (5 of 7)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Feb 2026 | Funding round | ₹907.2 Cr | Investors: Impact Fund Denmark, Netherlands Development Finance Company |
| Mar 2024 | Rights issue | ₹90 Cr | Investors: EverSource Capital |
| Mar 2022 | Rights issue | ₹185 Cr | Investors: EverSource Capital |
| Jan 2021 | Acquisition | ₹818 Cr | Buyer: EverSource Capital |
| Oct 2019 | Acquisition | ₹105.69 Cr | Buyer: EverSource Capital |
To see the full deal history of Radiance Renewables 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
Radiance Renewables Private Limited has 1 court case on record: 1 filed by Radiance Renewables. All case is pending.
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 | Writ petition | Filed by the company against Income Tax Officer Ward 1( and 3 others | Pending |
To see the full case history of Radiance Renewables 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
Radiance Renewables Private Limited was last rated by Icra on 11 Nov 2021.
| Rating agency | Rated on | Rating |
|---|---|---|
| Icra | 11 Nov 2021 |
To see the full credit ratings and regulatory alerts of Radiance Renewables Private Limited, buy the company report.
MSME payment delays
Radiance Renewables Private Limited has 8 MSME Form 1 returns on record between 2020 and 2024, listing 268 overdue payments to 48 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 (5 of 48)
To see the full MSME payment records of Radiance Renewables Private Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Group structure & subsidiaries
Radiance Renewables has 74 subsidiary companies and 3 associated companies. This group structure data is as of FY 2024. The table lists each entity with its relationship and holding.
| Company Name | CIN | Shares held |
|---|---|---|
| Voltalia Energy Private Limited | U29307DL2019PTC357252 | |
| Radiance TN Ic Sun Energy Private Limited | U35105MH2023PTC401756 | |
| Radiance Infraco Renewables Private Limited | U35105MH2023PTC415055 | |
| Radiance Ka Sunbright One Private Limited | U35105MH2023PTC415638 | |
| Radiance MH Sunshine Solar Park Private Limited | U35105MH2023PTC416394 | |
| Radiance TN Sunshine One Private Limited | U35105MH2024PTC418061 |
To see the full group structure of Radiance Renewables Private Limited, buy the company report.
Employees & EPFO
Radiance Renewables Private Limited has a workforce of 107 employees on its EPFO records as of Feb 19, 2025, across 1 active EPFO establishment.
GST
Radiance Renewables has 5 GST registrations: 4 active and 1 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAICR9051K1ZV | Maharashtra | Active | 07 Sep 2019 |
| 29AAICR9051K1ZR | Karnataka | Active | 04 Sep 2021 |
| 07AAICR9051K1ZX | Delhi | Active | 29 Apr 2022 |
| 33AAICR9051K2Z1 | Tamil Nadu | Active | 23 Jul 2024 |
To see the full GST registrations and return filing status of Radiance Renewables Private Limited, buy the company report.
Recent activity
Radiance Renewables Private Limited has 14 board changes on record since 2018: 6 appointments and 8 cessations. The latest: Nitin Surinder Bhatia was appointed as Whole-Time Director on 02 Feb 2026.
222 earlier events are in the company report.
News
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Frequently asked questions
Radiance Renewables is an active private limited company based in Mumbai, Maharashtra, India. The company works in power infrastructure and energy projects, within the infrastructure and utilities industry. It was incorporated on 20 April 2018 (8+ years old) and is registered under CIN U74999MH2018PTC308291.
Radiance Renewables has 4 current directors:
- Nitin Surinder Bhatia - Whole-Time Director
- Prasanna Prakash Desai - Director
- Kuldipkumar Dayaram Kaura - Director
- Bhavna Bindra - Director
The latest financial statements of Radiance Renewables on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 30 September 2025. Year-wise statements from FY 2019 are in the company report.
The GSTIN of Radiance Renewables is 27AAICR9051K1ZV, registered in Maharashtra. The company has 5 GST registrations in all, of which 4 are active and 1 is cancelled or inactive. Other active GSTINs include 29AAICR9051K1ZR (Karnataka), 07AAICR9051K1ZX (Delhi), 33AAICR9051K2Z1 (Tamil Nadu).
The CIN (Corporate Identification Number) of Radiance Renewables is U74999MH2018PTC308291. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Radiance Renewables has 1 court case on record: 1 filed by the company. 1 is pending.
Radiance Renewables was incorporated on 20 April 2018, making it 8+ years old. It is registered with the Registrar of Companies, Mumbai.
Radiance Renewables has 7 deals on record (3 acquisitions, 2 rights issues, 1 secondary share transfer), with disclosed funding of ₹907.2 Cr; the latest was in February 2026.
Nitin Surinder Bhatia was appointed as Whole-Time Director on 02 Feb 2026. Bhavna Bindra was appointed as Director on 28 Aug 2025. Nitin Surinder Bhatia ceased to be CFO on 19 May 2025. Radiance Renewables has 14 board changes on record in total.
Radiance Renewables has 8 MSME Form 1 returns on record between 2020 and 2024, listing 268 overdue payments to 48 micro and small suppliers. The latest return was filed on 29 Apr 2024.
Radiance Renewables can be reached through the website eversourcecapital.com. Its registered office is in Mumbai, Maharashtra, India.
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