About Sprng Solar Plus Private Limited
Data last updated:
Sprng Solar Plus Private Limited is a foreign private limited company based in New Delhi, Delhi, India, a subsidiary of Polarsolar B.V., Netherlands. It operates in the solar energy solutions segment of the environmental services sector. It was incorporated on 03 January 2018 and has been in existence for over 8 years.
The company is registered with the Registrar of Companies (ROC), Delhi, under CIN U40300DL2018FTC327949. Its GSTIN is 06AADCF2813L1ZQ (Haryana). The company holds 2 GST registrations, all of them active.
The company has an authorised share capital of ₹4.5 Cr and a paid-up capital of ₹4.35 Cr. It was formerly known as Fortum Solar Plus Private Limited. It is led by directors including Puneet Upadhyay and Gujjalapud Subbarayulunaidu Bangarubabu.
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 Unit No Ff – 48 A First Floor Omaxe Square Plot No.14 Jasola District Centre, New Delhi, Delhi, India – 110025.
As per the financials filed for FY 2025, the company reported a revenue of ₹155.12 Cr, a growth of 4% compared to the previous year. For the same year it recorded a net profit of ₹15.41 Cr (net margin 9.9%) and EBITDA of ₹143.4 Cr (EBITDA margin 92.4%). Revenue has grown at a compounded annual rate (CAGR) of 4% over three years and 77% over five years.
As per MCA filings, the company has open charges of ₹842.46 Cr and satisfied charges of ₹16 Cr on record. Court records list 1 case involving the company, including 1 filed against it; 1 case is pending. The company has 5 deals on record (2 funding rounds, 2 secondary share transfers, 1 convertible or debt financing), with disclosed funding of ₹154 Cr; the latest was in November 2023. Its 4 peer companies in the Infrastructure industry (Power Projects), with the same principal business activity (electric power generation, transmission and distribution) are compared by revenue, 3 larger and 1 smaller; the largest is Powergrid NM Transmission Limited with revenue of ₹166.46 Cr.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website fortum.com.
Company details
Contact details
Sprng Solar Plus Private Limited's registered office is in New Delhi, Delhi. Its website is fortum.com. Its e-mail address is in the company report.
- Email
- Website
- Social Media
- Registered AddressUnit No Ff – 48 A First Floor Omaxe Square Plot No.14 Jasola District Centre, New Delhi, Delhi, India – 110025
- IndustryEnvironment, Solar Energy Solutions
To see the full contact details of Sprng Solar Plus 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
Business activity
The main business activity of Sprng Solar Plus 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 Sprng Solar Plus Private Limited, buy the company report.
Financials of Sprng Solar Plus Private Limited
FY 2025 filings availableSprng Solar Plus Private Limited reported revenue of ₹155.12 Cr (up 4% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue has grown at a compounded annual rate (CAGR) of 77% over five years, including 4% growth in the latest year. EBITDA rose 6% 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 | |||||
| Revenue from Operations | |||||
| Other Income | |||||
| Total Revenue | |||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | ₹143.4 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹15.41 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 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 92.4% | ||||
| Net Profit Margin | 9.9% | ||||
| 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 Sprng Solar Plus Private Limited, buy the company report.
Board of directors of Sprng Solar Plus Private Limited
Sprng Solar Plus has 3 current directors and 19 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Puneet Upadhyay Also directs: Sprng Ujjvala Energy Private Limited, Sprng Soura Kiran Vidyut Private Limited, Sprng Solar India Private Limited and 5 more | Director | 29 Sep 2023 | 3 Years 0 Months | Current |
| Gujjalapud Subbarayulunaidu Bangarubabu Also directs: Sprng Ujjvala Energy Private Limited, Sprng Green Power Private Limited, Sprng Soura Kiran Vidyut Private Limited and 5 more | Director | 05 May 2023 | 3 Years 5 Months | Current |
| Rahul Pandurang Ramteke Also directs: Sprng Ujjvala Energy Private Limited, Sprng Transform Sun Energy Private Limited, Sprng Green Energy Six Private Limited and 5 more | Additional Director | 19 Jan 2026 | 0 Years 9 Months | Current |
Peer comparison
Sprng Solar Plus Private Limited is compared with the 4 companies closest to it by revenue in the Infrastructure industry (Power Projects), 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 |
|---|---|---|---|---|---|---|
| Powergrid NM Transmission Limited | ₹166.46 Cr (FY 2025) | -3.0% | New Delhi, Delhi, India | |||
| Lakadia Banaskantha Transco Limited | ₹163.67 Cr (FY 2025) | -1.0% | Ahmedabad, Gujarat, India | |||
| Renew Surya Aayan Private Limited | ₹162.3 Cr (FY 2025) | 316.0% | New Delhi, Delhi, India | |||
| Sprng Solar Plus Private Limitedthis company | ₹155.12 Cr (FY 2025) | ₹15.41 Cr | 9.9% | 4.0% | New Delhi, Delhi, India | |
| Kutchh Power Generation Limited | ₹152.6 Cr (FY 2025) | 47.0% | Ahmedabad, Gujarat, India |
To see the full peer comparison of Sprng Solar Plus Private Limited, buy the company report.
Auditor
Sprng Solar Plus Private Limited is audited by S R B C & CO LLP for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| S R B C & CO LLP | FY 2023 | 324982E/E300003 |
Shareholding
The shareholding of Sprng Solar Plus Private Limited is on record for 4 financial years, the latest being FY 2022, split between promoters, domestic institutions, public shareholders and others.
| Shareholder category | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|
| Promoters | ||||
| Domestic institutional investors (DII) | ||||
| Public | ||||
| Others |
To see the full shareholding pattern of Sprng Solar Plus Private Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 20 Oct 2021 | 100495918 | Others | ₹842.46 Cr | Open | |
| 20 Oct 2021 | 100495919 | Others | ₹16 Cr | Satisfied |
To see the full charge records of Sprng Solar Plus Private Limited, buy the company report.
Total charge records: 2 View all charges
Deals & funding
Sprng Solar Plus Private Limited has 5 deals on record (2 funding rounds, 2 secondary share transfers, 1 convertible or debt financing), with disclosed funding of ₹154 Cr; the latest was in November 2023.
Deals on record (4 of 5)
| When | Deal | Amount | Parties |
|---|---|---|---|
| May 2022 | Secondary share transfer | Undisclosed | Buyer: Solenergi Power Private Limited Seller: an individual |
| Nov 2021 | Secondary share transfer | Undisclosed | Buyer: Solenergi Power Private Limited Seller: an individual |
| Jul 2019 | Funding round | ₹56 Cr | Investors: an individual |
| May 2019 | Funding round | ₹16 Cr | Investors: an individual |
To see the full deal history of Sprng Solar Plus 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
Sprng Solar Plus Private Limited has 1 court case on record: 1 filed against it. All case is pending.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| Supreme Court | 1 | 1 | 1 |
Cases on record (1 of 1)
| Court | Type of case | Party | Status |
|---|---|---|---|
| Supreme Court | Appeal | Filed against the company by Rajasthan Urja Vikas and IT Services Limited (Formerly Known As Rajasthan Urja Vikas Nigam Limited) and 1 other | Pending |
To see the full case history of Sprng Solar Plus 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
Sprng Solar Plus Private Limited was last rated by Indiarating on 25 Oct 2021.
| Rating agency | Rated on | Rating |
|---|---|---|
| Indiarating | 25 Oct 2021 |
To see the full credit ratings and regulatory alerts of Sprng Solar Plus Private Limited, buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Sprng Solar Plus Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
GST
Sprng Solar Plus has 2 GST registrations: 2 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 06AADCF2813L1ZQ | Haryana | Active | 29 Sep 2018 |
| 08AADCF2813L1ZM | Rajasthan | Active | 29 Jan 2020 |
To see the full GST registrations and return filing status of Sprng Solar Plus Private Limited, buy the company report.
Recent activity
Sprng Solar Plus Private Limited has 23 board changes on record since 2018: 4 appointments and 19 cessations. The latest: Rahul Pandurang Ramteke was appointed as Additional Director on 19 Jan 2026.
18 earlier events are in the company report.
News
Frequently asked questions
Sprng Solar Plus is an active foreign private limited company based in New Delhi, Delhi, India. The company works in solar energy solutions, within the environment industry. It was incorporated on 03 January 2018 (8+ years old) and is registered under CIN U40300DL2018FTC327949.
Sprng Solar Plus has 3 current directors:
- Puneet Upadhyay - Director
- Gujjalapud Subbarayulunaidu Bangarubabu - Director
- Rahul Pandurang Ramteke - Additional Director
The latest financial statements of Sprng Solar Plus 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 2018 are in the company report.
The GSTIN of Sprng Solar Plus is 06AADCF2813L1ZQ, registered in Haryana. The company has 2 GST registrations in all, of which 2 are active. Other active GSTINs include 08AADCF2813L1ZM (Rajasthan).
The CIN (Corporate Identification Number) of Sprng Solar Plus is U40300DL2018FTC327949. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Sprng Solar Plus has 1 court case on record: 1 filed against it. 1 is pending.
Sprng Solar Plus was incorporated on 03 January 2018, making it 8+ years old. It is registered with the Registrar of Companies, Delhi.
Sprng Solar Plus has 5 deals on record (2 funding rounds, 2 secondary share transfers, 1 convertible or debt financing), with disclosed funding of ₹154 Cr; the latest was in November 2023.
The peers of Sprng Solar Plus by revenue are Powergrid NM Transmission Limited, Lakadia Banaskantha Transco Limited, Renew Surya Aayan Private Limited, Kutchh Power Generation Limited, all in the Infrastructure industry (Power Projects), with the same principal business activity (electric power generation, transmission and distribution).
Rahul Pandurang Ramteke was appointed as Additional Director on 19 Jan 2026. Puneet Upadhyay was appointed as Director on 29 Sep 2023. Gujjalapud Subbarayulunaidu Bangarubabu ceased to be Additional Director on 28 Sep 2023. Sprng Solar Plus has 23 board changes on record in total.
Sprng Solar Plus can be reached through the website fortum.com. Its registered office is in New Delhi, Delhi, India.