About Solarsys Non-Conventional Energy Private Limited
Data last updated:
Solarsys Non-Conventional Energy Private Limited is a private limited company based in Mumbai, Maharashtra, India, a subsidiary of Avaada Energy Private Limited. It operates in the solar energy solutions segment of the environmental services sector. It was incorporated on 20 November 2006 and has been in existence for over 20 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U40108MH2006PTC165672. Its GSTIN is 29AACCG8150E1ZN (Karnataka).
The company has an authorised share capital of ₹60.5 Cr and a paid-up capital of ₹60.2 Cr. It was formerly known as Welspun Energy Meghalaya Private Limited and Giant Textiles Private Limited. It is led by directors Ravi Kant Verma and Thozhutharathu Ramachandran Kishor Nair.
Its last annual general meeting (AGM) was held on 26 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 2023, the company reported a revenue of ₹89.4 Cr. For the same year it recorded a net profit of ₹28.22 Cr (net margin 31.6%) and EBITDA of ₹79.65 Cr (EBITDA margin 89.1%). Revenue has grown at a compounded annual rate (CAGR) of 2% over three years.
The company has about 4 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Avaada Group. As per MCA filings, the company has open charges of ₹315.79 Cr and satisfied charges of ₹482 Cr on record. Court records list 4 cases involving the company, including 4 filed against it. The company has 7 deals on record (5 secondary share transfers, 1 convertible or debt financing, 1 funding round), with disclosed funding of ₹60.99 Cr; the latest was in March 2018.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website avaadaenergy.com.
Company details
Name history
Solarsys Non-Conventional Energy has undergone 2 name changes throughout its history. The company was previously known as Welspun Energy Meghalaya Private Limited, and Giant Textiles Private Limited. The current legal name is Solarsys Non-Conventional Energy Private Limited.
| Company Name | Status |
|---|---|
| Solarsys Non-Conventional Energy Private Limited | Current |
| Welspun Energy Meghalaya Private Limited | Previous |
| Giant Textiles Private Limited | Previous |
CIN history
Solarsys Non-Conventional Energy has one previous CIN (Corporate Identification Number): U17299MH2006PTC165672. The current CIN is U40108MH2006PTC165672, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U40108MH2006PTC165672 | Current |
| U17299MH2006PTC165672 | Previous |
Contact details
Solarsys Non-Conventional Energy Private Limited's registered office is in Mumbai, Maharashtra. Its website is avaadaenergy.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered Address406 4th Floor Solaris One, N. S. Phadke Marg, Mumbai, Maharashtra, India – 400069
- IndustryEnvironment, Solar Energy Solutions
To see the full contact details of Solarsys Non-Conventional 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
Solarsys Non-Conventional Energy operates one associated brand: Avaada Group. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Renewable energy projects in solar, wind, and storage are developed. | avaada.com |
Financials of Solarsys Non-Conventional Energy Private Limited
FY 2025 filings availableSolarsys Non-Conventional Energy Private Limited reported revenue of ₹89.4 Cr for FY 2023.
Compounded Annual Growth Rate (CAGR)
Revenue has grown at a compounded annual rate (CAGR) of 2% over three years. EBITDA fell 4% 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 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | |||||
| Other Income | |||||
| Total Revenue | ₹89.4 Cr | ||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | ₹79.65 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹28.22 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 | |||||
| Inventories | |||||
| Trade Receivables | |||||
| Cash and Bank Balance | |||||
| Total Assets | |||||
Financial Ratios
| Metrics | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 89.1% | ||||
| Net Profit Margin | 31.6% | ||||
| 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 | |||||
To see the full financial statements and ratios of Solarsys Non-Conventional Energy Private Limited, buy the company report.
Board of directors of Solarsys Non-Conventional Energy Private Limited
Solarsys Non-Conventional Energy has 2 current directors and 14 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Ravi Kant Verma Also directs: Avaada Clean Knproject Private Limited, Meja Hospitality Services LLP, Avaada Gjclean Private Limited and 5 more | Director | 04 Aug 2020 | 6 Years 3 Months | Current |
| Thozhutharathu Ramachandran Kishor Nair Also directs: Avaada Clean Knproject Private Limited, Avaada Mhsolar Private Limited, Avaada Bankabihar Private Limited and 5 more | Director | 04 Aug 2020 | 6 Years 3 Months | Current |
Auditor
Solarsys Non-Conventional Energy Private Limited is audited by DELOITTE HASKINS & SELLS LLP for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| DELOITTE HASKINS & SELLS LLP | FY 2023 | 117366W/W-100018 |
Shareholding
The shareholding of Solarsys Non-Conventional 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 Solarsys Non-Conventional Energy Private Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 23 Mar 2021 | 100432738 | Others | ₹315.79 Cr | Open | |
| 05 Feb 2018 | 100159036 | Others | ₹373 Cr | Satisfied | |
| 04 Jan 2018 | 100148935 | Others | ₹109 Cr | Satisfied |
To see the full charge records of Solarsys Non-Conventional Energy Private Limited, buy the company report.
Total charge records: 3 View all charges
Deals & funding
Solarsys Non-Conventional Energy Private Limited has 7 deals on record (5 secondary share transfers, 1 convertible or debt financing, 1 funding round), with disclosed funding of ₹60.99 Cr; the latest was in March 2018.
Deals on record (5 of 7)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2018 | Secondary share transfer | Undisclosed | Buyer: Avaada Energy Private Limited , Avaada Energy Private Limited & Sindoor Mittal Seller: Walwhan Renewable Energy Limited & Sindoor Vineet Mittal, Walwhan Renewable Energy Limited Wrel |
| Jan 2018 | Funding round | ₹30.49 Cr | Investors: Avaada Energy Private Limited |
| Mar 2015 | Secondary share transfer | Undisclosed | Buyer: Walwhan Renewable Energy Limited & Sindoor Vineet Mittal, Walwhan Renewable Energy Limited Wrel Seller: Welspun Energy Private Limited , Welspun Energy Limited & Devendra Patil |
| Mar 2010 | Secondary share transfer | Undisclosed | Buyer: Welspun Energy Private Limited , 3 individuals Seller: Krishiraj Trading Limited , Welspun Mercantile Limited , Welspun Tradings Limited |
| Feb 2008 | Secondary share transfer | Undisclosed | Buyer: Krishiraj Trading Limited , Welspun Tradings Limited , Welspun Wintex Limited Seller: 2 individuals |
To see the full deal history of Solarsys Non-Conventional 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
Solarsys Non-Conventional Energy Private Limited has 4 court cases on record: 4 filed against it. All cases are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 4 | 4 | 0 |
Cases on record (4 of 4)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, BAGALKOT, Karnataka | Criminal complaint | Filed against the company by The State by Labour Inspector | Disposed |
| District court, BAGALKOT, Karnataka | Criminal complaint | Filed against the company by The State by Labour Inspector Hungund Circle | Disposed |
| District court, BAGALKOT, Karnataka | Criminal complaint | Filed against the company by The State by Labout Inspector Hungund Circle | Disposed |
| District court, CHITRADURGA, Karnataka | Civil suit | Filed against the company | Disposed |
To see the full case history of Solarsys Non-Conventional 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.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Solarsys Non-Conventional Energy Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Employees & EPFO
Solarsys Non-Conventional Energy Private Limited has a workforce of 4 employees on its EPFO records as of May 2026, across 1 active EPFO establishment.
Headcount by financial year
| Financial year | Employees (EPFO) |
|---|---|
| FY 2026-27 | 4 |
| FY 2025-26 | |
| FY 2024-25 | |
| FY 2023-24 | |
| FY 2022-23 | |
| FY 2021-22 | |
| FY 2020-21 | |
| FY 2019-20 |
To see the full employee and EPFO history of Solarsys Non-Conventional Energy Private Limited, buy the company report.
GST
Solarsys Non-Conventional Energy has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 29AACCG8150E1ZN | Karnataka | Active | 12 Oct 2017 |
To see the full GST registrations and return filing status of Solarsys Non-Conventional Energy Private Limited, buy the company report.
Recent activity
Solarsys Non-Conventional Energy Private Limited has 14 board changes on record since 2010: 2 appointments and 12 cessations. The latest: Ravi Kant Verma ceased to be Additional Director on 28 Sep 2020.
12 earlier events are in the company report.
News
Frequently asked questions
Solarsys Non-Conventional 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 20 November 2006 (20+ years old) and is registered under CIN U40108MH2006PTC165672.
Solarsys Non-Conventional Energy has 2 current directors:
- Ravi Kant Verma - Director
- Thozhutharathu Ramachandran Kishor Nair - Director
The latest financial statements of Solarsys Non-Conventional Energy on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 26 September 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Solarsys Non-Conventional Energy is 29AACCG8150E1ZN, registered in Karnataka.
The CIN (Corporate Identification Number) of Solarsys Non-Conventional Energy is U40108MH2006PTC165672. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Solarsys Non-Conventional Energy has 4 court cases on record: 4 filed against it.
Solarsys Non-Conventional Energy was incorporated on 20 November 2006, making it 20+ years old. It is registered with the Registrar of Companies, Mumbai.
Solarsys Non-Conventional Energy has 7 deals on record (5 secondary share transfers, 1 convertible or debt financing, 1 funding round), with disclosed funding of ₹60.99 Cr; the latest was in March 2018.
Ravi Kant Verma ceased to be Additional Director on 28 Sep 2020. Thozhutharathu Ramachandran Kishor Nair ceased to be Additional Director on 28 Sep 2020. Bhawin Jayant Shah ceased to be Director on 07 Aug 2020. Solarsys Non-Conventional Energy has 14 board changes on record in total.
Solarsys Non-Conventional Energy can be reached through the website avaadaenergy.com. Its registered office is in Mumbai, Maharashtra, India.
Sample company reports
The same report you get when you buy one: financials, directors, ownership, deals, charges, legal cases, brands and filings, with the Excel workbook alongside.
