About True Solar Private Limited
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True Solar Private Limited is a private limited company based in Bhubaneswar, Odisha, India. It operates in the special-purpose machinery segment of the industrial manufacturing sector. It was incorporated on 04 February 2016 and has been in existence for over 10 years.
The company is registered with the Registrar of Companies (ROC), Cuttack, under CIN U29253OR2016PTC019873. Its GSTIN is 21AAFCT6970J1Z4 (Odisha).
The company has an authorised share capital of ₹10 Lakh and a paid-up capital of ₹1 Lakh. It is led by directors Ankur B Patel and Priyadarshini Pradhan.
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 Plot No – 4071/B Samantaray Colony Ravi Talkies Road, Bhubaneswar, Odisha, India – 751002.
As per the financials filed for FY 2025, the company reported a revenue of ₹18.66 Lakh, a growth of 76% compared to the previous year. For the same year it recorded a net loss of ₹2.35 Lakh (net margin -12.6%) and EBITDA of ₹1.69 Lakh (EBITDA margin 9%). Revenue has declined at a compounded annual rate (CAGR) of 17% over five years.
The company is associated with 1 brand: driEV.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website truesolar.in.
- EmailLocked
- TelephoneLocked
- Website
- Social MediaLocked
- Registered AddressPlot No – 4071/B Samantaray Colony Ravi Talkies Road, Bhubaneswar, Odisha, India – 751002
- IndustryIndustrial Manufacturing, Special Purpose Machinery, Manufacturing
- 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
- One PDF report, delivered after checkout
Business Activity of True Solar Private Limited
The main business activity of True Solar is professional, scientific and technical. In detail, this covers other professional, scientific and technical activities.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| M | Professional, Scientific and Technical | M9 | Other professional, scientific and technical activities | Locked |
Business activity turnover details
Turnover share and past changes in activity are in the company report.
- Turnover contribution
- Historical classifications
- Filing-level activity changes
Verified entity values are shown only after access is granted.
Financials of True Solar Private Limited FY 2025 filings available
True Solar Private Limited reported revenue of ₹18.66 Lakh (up 76% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR) of True Solar Private Limited
Revenue rose 76% in the latest year, though over five years it has declined at a compounded annual rate (CAGR) of 17%. EBITDA fell 14% 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 of True Solar Private Limited
| 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 | ₹1.69 Lakh | •••• | •••• | •••• | •••• |
| Profit Before Tax | •••• | •••• | •••• | •••• | •••• |
| Tax Expense | •••• | •••• | •••• | •••• | •••• |
| Net Profit (PAT) | -₹2.35 Lakh | •••• | •••• | •••• | •••• |
| 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 of True Solar Private Limited
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 9% | •••• | •••• | •••• | •••• |
| Net Profit Margin | -12.6% | •••• | •••• | •••• | •••• |
| 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 | •••• | •••• | •••• | •••• | •••• |
Paid data: the figures shown as dots are available after purchase of the company report. Figures as filed with the MCA in Form AOC-4. The full year-wise statements and ratios of True Solar are in the company report.
Financial statements from FY 2016
Earlier years and trend charts are in the company report.
- Income statements
- Balance sheets
- Cash-flow statements
- Ratios and benchmarks
Verified entity values are shown only after access is granted.
Peer Comparison of True Solar Private Limited
True Solar Private Limited is compared with the companies closest to it by revenue in the same principal business activity (Other professional, scientific and technical activities). Net profit, margin and employee counts of each company are in the company report.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Eyrie Corp Consultancy Services Private Limited | ₹18.66 Lakh (FY 2025) | •••• | •••• | 27.0% | •••• | Salem, Tamil Nadu, India |
| Carefordreams Immigration Services Private Limited | ₹18.66 Lakh (FY 2021) | •••• | •••• | -10.0% | •••• | Chandigarh, India |
| Contestcup Private Limited | ₹18.66 Lakh (FY 2025) | •••• | •••• | 21.0% | •••• | Jalgaon, Maharashtra, India |
| Nivedita Design (OPC) Private Limited | ₹18.66 Lakh (FY 2024) | •••• | •••• | 10.0% | •••• | Hyderabad, Telangana, India |
| Events Shutter Story Private Limited | ₹18.66 Lakh (FY 2025) | •••• | •••• | -39.0% | •••• | Kolkata, West Bengal, India |
| True Solar Private Limited this company | ₹18.66 Lakh (FY 2025) | •••• | •••• | 76.0% | •••• | Bhubaneswar, Odisha, India |
| Akag Consulting Private Limited | ₹18.66 Lakh (FY 2025) | •••• | •••• | 87.0% | •••• | Noida, Uttar Pradesh, India |
| Kraftworks Private Limited | ₹18.65 Lakh (FY 2021) | •••• | •••• | -2.0% | •••• | Visakhapatnam, Andhra Pradesh, India |
| Institute for Pioneering Insightful Research Private Limited | ₹18.65 Lakh (FY 2025) | •••• | •••• | 278.0% | •••• | Dadri, Uttar Pradesh, India |
| Avini Advisors Private Limited | ₹18.65 Lakh (FY 2024) | •••• | •••• | -87.0% | •••• | Chennai, Tamil Nadu, India |
| Hypervision Technologies Private Limited | ₹18.64 Lakh (FY 2024) | •••• | •••• | 309069.0% | •••• | Noida, Uttar Pradesh, India |
Peers are the five companies nearest above and the five nearest below True Solar by revenue in the same principal business activity (Other professional, scientific and technical activities), from the latest filed financials of each company. Net profit, margin and employee counts of each peer are in the company report.
Auditor Details of True Solar Private Limited
True Solar Private Limited is audited by MANAS DASH & CO. for the financial year 2017.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| MANAS DASH & CO. | Locked | Locked | Locked |
Complete auditor history
Appointment and cessation dates and past auditor changes are in the company report.
- Appointment status
- Appointment dates
- Cessation dates
- Auditor changes
Verified entity values are shown only after access is granted.
Board of Directors of True Solar Private Limited
True Solar has 2 current directors and 4 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Ankur B Patel Also directs: Techsofin Private Limited | Director | 08 Dec 2017 | 8 Years 10 Months | Current |
| Priyadarshini Pradhan | Additional Director | 21 Apr 2021 | 5 Years 5 Months | Current |
Ownership and Shareholding of True Solar Private Limited
Shareholding and ownership data
Promoter, institutional, public and beneficial ownership figures are in the company report.
- Ownership categories
- Historical changes
- Group structure
- FII and DII holdings
Verified entity values are shown only after access is granted.
Charges & Borrowings of True Solar Private Limited
True Solar Private Limited does not have any charges (loans) registered with the Registrar of Companies.
Associated Brands with True Solar Private Limited
True Solar operates one associated brand: driEV. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| An online platform for electric scooter rentals. | driev.bike |
Employees and EPFO Compliance at True Solar Private Limited
Employment history and EPFO contributions of people linked to True Solar.
Employee and EPFO history
Monthly headcount, contribution history and filing status are in the company report.
- Monthly headcount
- PF contributions
- ECR filing status
- Establishment history
Verified entity values are shown only after access is granted.
Recent Activity on True Solar Private Limited
True Solar Private Limited has 6 board changes on record since 2016: 2 appointments and 4 cessations. The latest: Prateek Samantaray ceased to be Director on 21 Apr 2021.
Credit Ratings, Litigation & Regulatory Alerts for True Solar Private Limited
Credit ratings, litigation, and regulatory alerts
Credit ratings, court records and regulatory alerts are in the company report.
- Rating history
- Court and tribunal cases
- Regulatory alerts
- Director-linked violations
Verified entity values are shown only after access is granted.
MSME Payment Delays by True Solar Private Limited
MSME payment history
Amounts due to small suppliers, the reasons given and MSME-1 filings are in the company report.
- Outstanding amounts
- Delay periods and reasons
- MSME-1 filing history
- Vendor payment signals
Verified entity values are shown only after access is granted.
Subsidiaries & Group Companies of True Solar Private Limited
Corporate group structure
Parent, subsidiary, associate and joint venture records with holdings are in the company report.
- Parent company
- Subsidiaries and ownership
- Associates and joint ventures
- Entity investments
Verified entity values are shown only after access is granted.
GST Compliance of True Solar Private Limited
True Solar has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 21AAFCT6970J1Z4 | Odisha | Active | 05 Jan 2018 |
GST registrations and filing compliance
State-wise GST registrations, return filing status and HSN or SAC codes are in the company report.
- GSTIN registrations
- State-wise filing status
- HSN and SAC details
- Tax jurisdiction records
Verified entity values are shown only after access is granted.
MCA Filings & Documents of True Solar Private Limited
MCA filings and documents
Filed forms, annual returns, financial statements and charge filings with their dates are in the company report.
- Incorporation documents
- Annual returns and statements
- Charge filings
- Complete filing index
Verified entity values are shown only after access is granted.
Frequently Asked Questions about True Solar Private Limited
True Solar is an active private limited company based in Bhubaneswar, Odisha, India. The company works in special purpose machinery, within the industrial manufacturing industry. It was incorporated on 04 February 2016 (10+ years old) and is registered under CIN U29253OR2016PTC019873.
True Solar reported revenue of ₹18.66 Lakh for FY 2025 (up 76% YoY).
True Solar has 2 current directors:
- Ankur B Patel - Director
- Priyadarshini Pradhan - Additional Director
True Solar reported a net loss of ₹2.35 Lakh (net margin -12.6%) and EBITDA of ₹1.69 Lakh (EBITDA margin 9%) for FY 2025, as per its filed financial statements.
The compounded annual growth rate (CAGR) of the revenue of True Solar is -17% over five years. In the latest year (FY 2025) revenue rose 76%. CAGR is the steady yearly rate that links the first and the last year.
The GSTIN of True Solar is 21AAFCT6970J1Z4, registered in Odisha.
The CIN (Corporate Identification Number) of True Solar is U29253OR2016PTC019873. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
True Solar was incorporated on 04 February 2016, making it 10+ years old. It is registered with the Registrar of Companies, Cuttack.
The peers of True Solar by revenue are Eyrie Corp Consultancy Services Private Limited, Carefordreams Immigration Services Private Limited, Contestcup Private Limited, Nivedita Design (OPC) Private Limited, Events Shutter Story Private Limited and 5 more, all in the same principal business activity (Other professional, scientific and technical activities).
Prateek Samantaray ceased to be Director on 21 Apr 2021. Priyadarshini Pradhan was appointed as Additional Director on 21 Apr 2021. Adarsh Mahapatra ceased to be Director on 12 Jun 2019. True Solar has 6 board changes on record in total.
True Solar can be reached through the website truesolar.in. Its registered office is in Bhubaneswar, Odisha, India.