About Spi Power Operations Private Limited
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Spi Power Operations Private Limited is a private limited company based in Chennai, Tamil Nadu, India, a subsidiary of Madurai Power Corporation Private Limited. It operates in the power transmission and distribution services segment of the energy and power sector. It was incorporated on 20 April 2000 and has been in existence for over 26 years.
The company is registered with the Registrar of Companies (ROC), Chennai, under CIN U40105TN2000PTC051713. Its GSTIN is 33AAACO5538L1ZB (Tamil Nadu).
The company has an authorised share capital of ₹267 Cr and a paid-up capital of ₹258.64 Cr. It is led by directors Senthil Mariappan Rathnasamy and Srinivasan Madhavan.
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 No:3 I Floor 2nd Street Subba Rao Avenue College Road, Chennai, Tamil Nadu, India – 600006.
As per the financials filed for FY 2025, the company reported a revenue of ₹4.16 Lakh, a decline of 96% compared to the previous year. For the same year it recorded a net loss of ₹13.68 Cr and EBITDA of -₹11.33 Cr. Revenue has grown at a compounded annual rate (CAGR) of 17% over three years.
The company has about 1 employee on its provident fund (EPFO) records. Its group structure includes 1 subsidiary.
The company has 10 deals on record (5 funding rounds, 3 rights issues, 2 secondary share transfers), with disclosed funding of ₹88.6 Cr; the latest was in April 2022. Its 10 peer companies in the Power industry (Transmission and Distribution) are compared by revenue, 5 larger and 5 smaller; the largest is Greenkonnect Energy Private Limited with revenue of ₹4.5 Lakh.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website spigroup.in.
Company details
CIN history
Spi Power Operations has one previous CIN (Corporate Identification Number): U40105TN2003PTC051713. The current CIN is U40105TN2000PTC051713, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U40105TN2000PTC051713 | Current |
| U40105TN2003PTC051713 | Previous |
Contact details
Spi Power Operations Private Limited's registered office is in Chennai, Tamil Nadu. Its website is spigroup.in. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered AddressNo:3 I Floor 2nd Street Subba Rao Avenue College Road, Chennai, Tamil Nadu, India – 600006
- IndustryEnergy and Power, Power Transmission & Distribution Services
To see the full contact details of Spi Power Operations 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
Financials of Spi Power Operations Private Limited
FY 2025 filings availableSpi Power Operations Private Limited reported revenue of ₹4.16 Lakh (down 96% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue fell 96% in the latest year, but over three years it has grown at a compounded annual rate (CAGR) of 17%. EBITDA fell 154% 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 | -₹11.33 Cr | ||||
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| Net Profit (PAT) | -₹13.68 Cr | ||||
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Financial Ratios
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To see the full financial statements and ratios of Spi Power Operations Private Limited, buy the company report.
Board of directors of Spi Power Operations Private Limited
Spi Power Operations has 2 current directors and 19 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Senthil Mariappan Rathnasamy | Director | 31 Jul 2017 | 9 Years 2 Months | Current |
| Srinivasan Madhavan | Director | 30 Sep 2019 | 7 Years 0 Months | Current |
Peer comparison
Spi Power Operations Private Limited is compared with the 10 companies closest to it by revenue in the Power industry (Transmission and Distribution), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Greenkonnect Energy Private Limited | ₹4.5 Lakh (FY 2024) | 1760.0% | Mumbai, Maharashtra, India | |||
| Hindustan Powergen Limited. | ₹4.49 Lakh (FY 2016) | 2425.0% | New Delhi, Delhi, India | |||
| Fatehpur Coal Mining Company Private Limited | ₹4.28 Lakh (FY 2025) | 34.0% | Raigarh, Chhattisgarh, India | |||
| Macro Technologies (India) Private Limited | ₹4.19 Lakh (FY 2021) | -88.0% | Delhi, India | |||
| Habile Integrate Soft Comm Private Limited | ₹4.18 Lakh (FY 2021) | -52.0% | Jaipur, Rajasthan, India | |||
| Spi Power Operations Private Limitedthis company | ₹4.16 Lakh (FY 2025) | -₹13.68 Cr | -96.0% | 1 | Chennai, Tamil Nadu, India | |
| Thind Energy Private Limited | ₹4.14 Lakh (FY 2025) | 13.0% | Jalandhar, Punjab, India | |||
| Mainpuri Power Transmission Private Limited | ₹4.13 Lakh (FY 2015) | 1701.0% | Gurgaon, Haryana, India | |||
| Green Wind and Solar Powertech Private Limited | ₹4.08 Lakh (FY 2022) | -84.0% | Coimbatore, Tamil Nadu, India | |||
| Renew Naveen Urja Private Limited | ₹4.04 Lakh (FY 2025) | 156.0% | New Delhi, Delhi, India | |||
| Petrox Energy Private Limited | ₹4 Lakh (FY 2020) | -80.0% | Kasturinagar, Karnataka, India |
To see the full peer comparison of Spi Power Operations Private Limited, buy the company report.
Auditor
Spi Power Operations Private Limited is audited by P A REDDY & CO for the financial year 2018.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| P A REDDY & CO | FY 2018 | 007368S |
Shareholding
The shareholding of Spi Power Operations Private Limited is on record for 3 financial years, the latest being FY 2018, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|
| Promoters | |||
| Domestic institutional investors (DII) | |||
| Foreign institutional investors (FII) | |||
| Public | |||
| Others |
To see the full shareholding pattern of Spi Power Operations Private Limited, buy the company report.
Deals & funding
Spi Power Operations Private Limited has 10 deals on record (5 funding rounds, 3 rights issues, 2 secondary share transfers), with disclosed funding of ₹88.6 Cr; the latest was in April 2022.
Deals on record (5 of 10)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Apr 2022 | Funding round | ₹55.3 Cr | Investors: S S Theatres LLP |
| Sep 2020 | Funding round | ₹16.85 Cr | Investors: S S Theatres LLP , Samayanallur Power Investments Private Limited |
| Mar 2020 | Rights issue | ₹59.2 Lakh | Investors: Madurai Power Corporation Private Limited |
| Feb 2020 | Funding round | ₹5 Cr | Investors: S S Theatres LLP |
| Nov 2018 | Rights issue | ₹31.19 Cr | Investors: Madurai Power Corporation Private Limited |
To see the full deal history of Spi Power Operations 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
No court or tribunal cases involving Spi Power Operations Private Limited are on our record; a case search with case numbers, parties and status is in the company report Buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Spi Power Operations Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Group structure & subsidiaries
Spi Power Operations has 1 subsidiary company. This group structure data is as of FY 2018. The table lists each entity with its relationship and holding.
| Company Name | CIN | Shares held |
|---|---|---|
| Spi Ports Private Limited | U74900TN2008PTC067720 |
To see the full group structure of Spi Power Operations Private Limited, buy the company report.
Employees & EPFO
Spi Power Operations Private Limited has a workforce of 1 employees on its EPFO records as of Mar 22, 2024, across 1 active EPFO establishment.
GST
Spi Power Operations has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 33AAACO5538L1ZB | Tamil Nadu | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Spi Power Operations Private Limited, buy the company report.
Recent activity
Spi Power Operations Private Limited has 19 board changes on record since 2007: 2 appointments and 17 cessations. The latest: Srinivasan Madhavan ceased to be Additional Director on 31 Dec 2020.
10 earlier events are in the company report.
Frequently asked questions
Spi Power Operations is an active private limited company based in Chennai, Tamil Nadu, India. The company works in power transmission and distribution services, within the energy and power industry. It was incorporated on 20 April 2000 (26+ years old) and is registered under CIN U40105TN2000PTC051713.
Spi Power Operations has 2 current directors:
- Senthil Mariappan Rathnasamy - Director
- Srinivasan Madhavan - Director
The latest financial statements of Spi Power Operations 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 2015 are in the company report.
The GSTIN of Spi Power Operations is 33AAACO5538L1ZB, registered in Tamil Nadu.
The CIN (Corporate Identification Number) of Spi Power Operations is U40105TN2000PTC051713. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Spi Power Operations was incorporated on 20 April 2000, making it 26+ years old. It is registered with the Registrar of Companies, Chennai.
Spi Power Operations has 10 deals on record (5 funding rounds, 3 rights issues, 2 secondary share transfers), with disclosed funding of ₹88.6 Cr; the latest was in April 2022.
The peers of Spi Power Operations by revenue are Greenkonnect Energy Private Limited, Hindustan Powergen Limited, Fatehpur Coal Mining Company Private Limited, Macro Technologies (India) Private Limited, Habile Integrate Soft Comm Private Limited and 5 more, all in the Power industry (Transmission and Distribution).
Srinivasan Madhavan ceased to be Additional Director on 31 Dec 2020. Michael Soosai Selvaraj ceased to be Director on 30 Sep 2019. Srinivasan Madhavan was appointed as Director on 30 Sep 2019. Spi Power Operations has 19 board changes on record in total.
Spi Power Operations can be reached through the website spigroup.in. Its registered office is in Chennai, Tamil Nadu, India.
The registered office of Spi Power Operations is at No:3 I Floor 2nd Street Subba Rao Avenue College Road, Chennai, Tamil Nadu, India – 600006.