About Sipani Energy Limited
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Sipani Energy Limited is a public limited company based in Bangalore, Karnataka, India. It operates in the electronics manufacturing segment of the consumer electronics and durables sector. It was incorporated on 18 February 1982 and has been in existence for over 44 years.
The company is registered with the Registrar of Companies (ROC), Bangalore, under CIN U52335KA1982PLC004651. Its GSTIN is 29AAACD5871B1ZS (Karnataka). The company holds 2 GST registrations, of which 1 is active.
The company has an authorised share capital of ₹2 Cr and a paid-up capital of ₹1.01 Cr. It was formerly known as Dolphin Motors (India) Private Limited and Dolphin Motors (India) Limited. It is led by directors including Dinesh Kumar Sipani and Madhu Sipani.
Its last annual general meeting (AGM) was held on 01 September 2026, and its latest financial statements are for the year ended 31 March 2026. The registered office is at No 439 18th Main 6th Block Koramangala, Bangalore, Karnataka, India – 560095.
As per the financials filed for FY 2025, the company reported a revenue of ₹70.2 Cr, a decline of 18% compared to the previous year. For the same year it recorded a net profit of ₹76.61 Lakh (net margin 1.1%) and EBITDA of -₹2.42 Cr (EBITDA margin -3.5%). Revenue has grown at a compounded annual rate (CAGR) of 7% over three years and 8% over five years.
The company has about 145 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Ecova. As per MCA filings, the company has open charges of ₹68.09 Cr on record. Court records list 36 cases involving the company, including 23 filed by the company and 13 filed against it. The company has 8 deals on record (5 secondary share transfers, 3 funding rounds), with disclosed funding of ₹4.86 Cr; the latest was in March 2022. The company has 2 MSME Form 1 returns on record for the period ending Mar 2023, listing 14 overdue payments to 7 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 sipanienergy.com.
Company details
Name history
Sipani Energy has undergone 2 name changes throughout its history. The company was previously known as Dolphin Motors (India) Private Limited, and Dolphin Motors (India) Limited. The current legal name is Sipani Energy Limited.
| Company Name | Status |
|---|---|
| Sipani Energy Limited | Current |
| Dolphin Motors (India) Private Limited | Previous |
| Dolphin Motors (India) Limited | Previous |
CIN history
Sipani Energy has one previous CIN (Corporate Identification Number): U00374KA1982PLC004651. The current CIN is U52335KA1982PLC004651, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U52335KA1982PLC004651 | Current |
| U00374KA1982PLC004651 | Previous |
Contact details
Sipani Energy Limited's registered office is in Bangalore, Karnataka. Its website is sipanienergy.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered AddressNo 439 18th Main 6th Block Koramangala, Bangalore, Karnataka, India – 560095
- IndustryConsumer Electronics & Durables, Electronics Manufacturing
To see the full contact details of Sipani Energy 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
Sipani Energy operates one associated brand: Ecova. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Lighting solutions for defense, industrial, sports, and aerospace sectors in Bangalore. | sipanienergy.com |
Business activity
The main business activities of Sipani Energy are electricity, gas, steam and air condition supply, manufacturing and support service to organizations. In detail, this covers manufacture of gas, distribution of gaseous fuels, electrical equipment, general purpose and special purpose machinery & equipment, transport equipment and other support services to organizations. 3 activity segments are registered with the MCA.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| D | Electricity, gas, steam and air condition supply | D2 | Manufacture of gas, distribution of gaseous fuels | |
| C | Manufacturing | C10 | Electrical equipment, General Purpose and Special purpose Machinery & equipment, Transport equipment | |
| N | Support service to Organizations | N7 | Other support services to organizations |
To see the full business activity and turnover split of Sipani Energy Limited, buy the company report.
Financials of Sipani Energy Limited
FY 2026 filings availableSipani Energy Limited reported revenue of ₹70.2 Cr (down 18% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue fell 18% in the latest year, but over five years it has grown at a compounded annual rate (CAGR) of 8%. 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 | -₹2.42 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹76.61 Lakh | ||||
| 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 | -3.5% | ||||
| Net Profit Margin | 1.1% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
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| Receivable Days | |||||
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To see the full financial statements and ratios of Sipani Energy Limited, buy the company report.
Board of directors of Sipani Energy Limited
Sipani Energy has 4 current directors and 6 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Dinesh Kumar Sipani Also directs: Global Tech Defence LLP, Deeaar Esjay Enterprises LLP, Originnel Online Sales & Services Private Limited and 3 more | Director | 16 Sep 1999 | 27 Years 1 Months | Current |
| Madhu Sipani Also directs: Global Tech Defence LLP, Sipani Infrastructure Private Limited | Director | 05 Dec 2008 | 17 Years 11 Months | Current |
| Muralidhar Venkata Naga Yagna Yelurupati Also directs: Global Tech Defence LLP | Director | 06 Mar 2014 | 12 Years 7 Months | Current |
| Shreshth Sipani Also directs: Global Tech Defence LLP, Deeaar Esjay Enterprises LLP, Sipani Healthcare Limited and 1 more | Director | 04 Jul 2012 | 14 Years 4 Months | Current |
Auditor
Sipani Energy Limited is audited by DTSB & Associates for the financial year 2024.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| DTSB & Associates | FY 2024 | 329277E |
Shareholding
The shareholding of Sipani Energy Limited is on record for 5 financial years, the latest being FY 2025, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Sipani Energy Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 28 Jul 2025 | 101141775 | Axis Bank Limited | ₹44 Cr | Open | |
| 24 Apr 2025 | 101151089 | Hdfc Bank Limited | ₹35 Lakh | Open | |
| 01 Oct 2024 | 100983010 | Axis Bank Limited | ₹4.5 Cr | Open | |
| 30 Sep 2024 | 100983019 | Axis Bank Limited | ₹4.5 Cr | Open | |
| 19 Oct 2023 | 100837893 | Axis Bank Limited | ₹3 Cr | Open |
To see the full charge records of Sipani Energy Limited, buy the company report.
Total charge records: 6 View all charges
Deals & funding
Sipani Energy Limited has 8 deals on record (5 secondary share transfers, 3 funding rounds), with disclosed funding of ₹4.86 Cr; the latest was in March 2022.
Deals on record (5 of 8)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2022 | Funding round | ₹3.38 Cr | Investors: Sipani Infrastructure Private Limited |
| Mar 2015 | Secondary share transfer | Undisclosed | Buyer: 4 individuals Seller: Amaranta Finvest Pvt Ltd , Blue Water Mercantile Amaranta Finvest Private Limited, Nalban Infrastructure Amaranta Finvest Private Limited, an individual |
| Mar 2010 | Funding round | ₹10 Lakh | Investors: Blue Water Mercantile Amaranta Finvest Private Limited, Amaranta Finvest Pvt Ltd , Nalban Infrastructure Amaranta Finvest Private Limited |
| Jun 2009 | Secondary share transfer | Undisclosed | Buyer: 3 individuals Seller: Astik Suppliers Private Limited , an individual |
| May 2009 | Secondary share transfer | Undisclosed | Buyer: Astik Suppliers Private Limited Seller: Alcon Goods & Commercial Services Pvt Ltd , T K Management Consultants Pvt Ltd , Fyl Fot Trade & Commerce Pvt Ltd |
To see the full deal history of Sipani Energy 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
Sipani Energy Limited has 36 court cases on record: 23 filed by Sipani Energy, 13 filed against it. All cases are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 29 | 10 | 0 |
| High courts | 7 | 3 | 0 |
Cases on record (5 of 36)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court of Karnataka | Revision petition | Filed by the company against M/S Total Oil India Limited and 1 other | Disposed |
| High Court, KARNATAKA | Appeal | Filed against the company by M/S Kirti Service Station and 1 other | Disposed |
| High Court | Writ petition | Filed against the company by individuals | Disposed |
| District court, BENGALURU, Karnataka | Appeal | Filed against the company by M/S Kirthi Service Station and 2 others | Disposed |
| District court, BENGALURU, Karnataka | Criminal complaint | Filed by the company against individuals | Disposed |
To see the full case history of Sipani Energy 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.
MSME payment delays
Sipani Energy Limited has 2 MSME Form 1 returns on record for the period ending Mar 2023, listing 14 overdue payments to 7 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 7)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| an individual supplier | |||
| an individual supplier | |||
| Glocot Chemicals Private Limited | |||
| an individual supplier | |||
| an individual supplier |
To see the full MSME payment records of Sipani Energy Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Employees & EPFO
Sipani Energy Limited has a workforce of 145 employees on its EPFO records as of Oct 09, 2025, across 1 active EPFO establishment.
GST
Sipani Energy has 2 GST registrations: 1 active and 1 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 29AAACD5871B1ZS | Karnataka | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Sipani Energy Limited, buy the company report.
Recent activity
Sipani Energy Limited has 10 board changes on record since 1999: 4 appointments and 6 cessations. The latest: Muralidhar Venkata Naga Yagna Yelurupati ceased to be Additional Director on 29 Sep 2023.
8 earlier events are in the company report.
Frequently asked questions
Sipani Energy is an active public limited company based in Bangalore, Karnataka, India. The company works in electronics manufacturing, within the consumer electronics and durables industry. It was incorporated on 18 February 1982 (44+ years old) and is registered under CIN U52335KA1982PLC004651.
Sipani Energy has 4 current directors:
- Dinesh Kumar Sipani - Director
- Madhu Sipani - Director
- Muralidhar Venkata Naga Yagna Yelurupati - Director
- Shreshth Sipani - Director
The latest financial statements of Sipani Energy on record with the MCA are for the year ended 31 March 2026. Its last annual general meeting was held on 01 September 2026. Year-wise statements from 2015 are in the company report.
The GSTIN of Sipani Energy is 29AAACD5871B1ZS, registered in Karnataka. The company has 2 GST registrations in all, of which 1 is active and 1 is cancelled or inactive.
The CIN (Corporate Identification Number) of Sipani Energy is U52335KA1982PLC004651. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Sipani Energy has 36 court cases on record: 23 filed by the company and 13 filed against it. Most are in the district courts.
Sipani Energy was incorporated on 18 February 1982, making it 44+ years old. It is registered with the Registrar of Companies, Bangalore.
Sipani Energy has 8 deals on record (5 secondary share transfers, 3 funding rounds), with disclosed funding of ₹4.86 Cr; the latest was in March 2022.
Muralidhar Venkata Naga Yagna Yelurupati ceased to be Additional Director on 29 Sep 2023. Shreshth Sipani ceased to be Additional Director on 29 Sep 2023. Jai Kumar Rajendra ceased to be Additional Director on 14 Jan 2017. Sipani Energy has 10 board changes on record in total.
Sipani Energy has 2 MSME Form 1 returns on record for the period ending Mar 2023, listing 14 overdue payments to 7 micro and small suppliers. The latest return was filed on 28 Aug 2023.
Sipani Energy can be reached through the website sipanienergy.com. Its registered office is in Bangalore, Karnataka, India.
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