About Upgrid Electrilease Private Limited
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Upgrid Electrilease Private Limited is a private limited company based in New Delhi, Delhi, India, a subsidiary of Upgrid Solutions Private Limited. It operates in the equipment leasing and financing segment of the financial services sector. It was incorporated on 06 December 2021 and has been in existence for over 5 years.
The company is registered with the Registrar of Companies (ROC), Delhi, under CIN U71290DL2021PTC390888. Its GSTIN is 07AACCU9851A1ZD (Delhi). The company holds 7 GST registrations, all of them active.
The company has an authorised share capital of ₹10 Lakh and a paid-up capital of ₹1 Lakh. It is led by directors Siddharth Sikka and Pulkit Khurana.
Its last annual general meeting (AGM) was held on 29 August 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Innov8 Aerocity Asset – 5A, Jw Marriott Hotel Hospitality, New Delhi, Delhi, India – 110037.
As per the financials filed for FY 2025, the company reported a revenue of ₹234.57 Cr, a growth of 53% compared to the previous year. For the same year it recorded a net loss of ₹68.6 Cr (net margin -29.2%) and EBITDA of ₹192 Cr (EBITDA margin 81.9%). Revenue has grown at a compounded annual rate (CAGR) of 450% over three years.
The company is associated with 1 brand: Battery Smart. As per MCA filings, the company has open charges of ₹1,716.84 Cr and satisfied charges of ₹283 Cr on record. Court records list 1 case involving the company, including 1 filed by the company. The company has 10 deals on record (10 debt financings), with disclosed funding of ₹2,208 Cr; the latest was in June 2024. Its 3 peer companies in the BFSI industry (Machinery and Equipment Leasing), with the same principal business activity (rental and leasing of motor vehicles, machinery, equipment, capital goods, etc. activities) are compared by revenue, 2 larger and 1 smaller; the largest is U P Asbestos Limited with revenue of ₹248.83 Cr.
For more details, the company can be reached via its website batterysmart.in.
Company details
Contact details
Upgrid Electrilease Private Limited's registered office is in New Delhi, Delhi. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Social Media
- Registered AddressInnov8 Aerocity Asset – 5A, Jw Marriott Hotel Hospitality, New Delhi, Delhi, India – 110037
- IndustryFinancial Services, Equipment Leasing & Financing
To see the full contact details of Upgrid Electrilease 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
Upgrid Electrilease operates one associated brand: Battery Smart. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Provider of EV battery-swapping network | batterysmart.in |
Business activity
The main business activity of Upgrid Electrilease is support service to organizations. In detail, this covers rental and leasing of motor vehicles, machinery, equipment, capital goods, etc. activities.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| N | Support service to Organizations | N1 | Rental and leasing of motor vehicles, machinery, equipment, capital goods, etc. activities |
To see the full business activity and turnover split of Upgrid Electrilease Private Limited, buy the company report.
Financials of Upgrid Electrilease Private Limited
FY 2025 filings availableUpgrid Electrilease Private Limited reported revenue of ₹234.57 Cr (up 53% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue has grown at a compounded annual rate (CAGR) of 450% over three years, including 53% growth in the latest year. EBITDA rose 59% 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 |
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| EBITDA | ₹192 Cr | |||
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| Net Profit (PAT) | -₹68.6 Cr | |||
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Financial Ratios
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 |
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| Profitability | ||||
| EBITDA Margin | 81.9% | |||
| Net Profit Margin | -29.2% | |||
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To see the full financial statements and ratios of Upgrid Electrilease Private Limited, buy the company report.
Board of directors of Upgrid Electrilease Private Limited
Upgrid Electrilease has 2 directors on record. No former directors are listed.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Siddharth Sikka Also directs: Indus Partners LLP, Upgrid Solutions Private Limited, Upgrid Growth Capital Private Limited and 1 more | Director | 06 Dec 2021 | 4 Years 10 Months | Current |
| Pulkit Khurana Also directs: Indus Partners LLP, Upgrid Solutions Private Limited, Upgrid Growth Capital Private Limited and 1 more | Director | 06 Dec 2021 | 4 Years 10 Months | Current |
Peer comparison
Upgrid Electrilease Private Limited is compared with the 3 companies closest to it by revenue in the BFSI industry (Machinery and Equipment Leasing), with the same principal business activity (rental and leasing of motor vehicles, machinery, equipment, capital goods, etc. activities), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| U P Asbestos Limited | ₹248.83 Cr (FY 2025) | 18.0% | Uttar Pradesh, India | |||
| Rushabh Sealink and Logistic Private Limited | ₹235.92 Cr (FY 2025) | 66.0% | Mumbai, Maharashtra, India | |||
| Upgrid Electrilease Private Limitedthis company | ₹234.57 Cr (FY 2025) | -₹68.6 Cr | -29.2% | 53.0% | New Delhi, Delhi, India | |
| Mtandt Rentals Limited | ₹231.87 Cr (FY 2025) | 39.0% | Padur, Tamil Nadu, India |
To see the full peer comparison of Upgrid Electrilease Private Limited, buy the company report.
Auditor
Upgrid Electrilease Private Limited is audited by S. R BATLIBOI & CO. LLP for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| S. R BATLIBOI & CO. LLP | FY 2023 | 096333 |
Shareholding
The shareholding of Upgrid Electrilease Private Limited is on record for 2 financial years, the latest being FY 2023, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2023 | FY 2022 |
|---|---|---|
| Promoters | ||
| Domestic institutional investors (DII) | ||
| Foreign institutional investors (FII) | ||
| Public | ||
| Others |
To see the full shareholding pattern of Upgrid Electrilease Private Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 30 Dec 2025 | 101216846 | Others | ₹669.39 Cr | Open | |
| 24 Dec 2025 | 101217087 | Others | ₹20 Cr | Open | |
| 18 Dec 2025 | 101215636 | Others | ₹20 Cr | Open | |
| 27 Nov 2025 | 101202703 | Others | ₹35 Cr | Open | |
| 31 Oct 2025 | 101192786 | Others | ₹40 Cr | Open |
To see the full charge records of Upgrid Electrilease Private Limited, buy the company report.
Total charge records: 58 View all charges
Deals & funding
Upgrid Electrilease Private Limited has 10 deals on record (10 debt financings), with disclosed funding of ₹2,208 Cr; the latest was in June 2024.
Deals on record (5 of 10)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Jun 2024 | Debt financing | ₹1,938 Cr | Investors: responsAbility Investments, Blacksoil Group, Stride Ventures |
| Mar 2024 | Debt financing | ₹30 Cr | Investors: Grip Fixed Income Opportunities Fund I, Blacksoil Group |
| Dec 2023 | Debt financing | ₹30 Cr | Investors: Blacksoil Group, InCred Alternatives Investments |
| Sep 2023 | Debt financing | ₹25 Cr | Investors: Stride Ventures |
| Jun 2023 | Debt financing | ₹62 Cr | Investors: Trifecta Capital, InCred Alternatives Investments |
To see the full deal history of Upgrid Electrilease 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
Upgrid Electrilease Private Limited has 1 court case on record: 1 filed by Upgrid Electrilease. All case is disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 1 | 0 | 0 |
Cases on record (1 of 1)
| Court | Type of case | Party | Status |
|---|---|---|---|
| Allahabad High Court | Writ petition | Filed by the company against State of U.P. Transport Deptt. Thru. Transport Commissioner Lko and Another | Disposed |
To see the full case history of Upgrid Electrilease 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 Upgrid Electrilease Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Employees & EPFO
Upgrid Electrilease Private Limited has 1 active EPFO establishment as of Apr 05, 2024.
GST
Upgrid Electrilease has 7 GST registrations: 7 active. The first 4 active GSTINs are listed below.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 07AACCU9851A1ZD | Delhi | Active | 25 Dec 2021 |
| 08AACCU9851A1ZB | Rajasthan | Active | 25 Sep 2022 |
| 09AACCU9851A1Z9 | Uttar Pradesh | Active | 01 Dec 2022 |
| 05AACCU9851A1ZH | Uttarakhand | Active | 14 Mar 2023 |
To see the full GST registrations and return filing status of Upgrid Electrilease Private Limited, buy the company report.
Recent activity
Upgrid Electrilease Private Limited has 2 board changes on record since 2021: 2 appointments. The latest: Pulkit Khurana was appointed as Director on 06 Dec 2021.
81 earlier events are in the company report.
News
Frequently asked questions
Upgrid Electrilease is an active private limited company based in New Delhi, Delhi, India. The company works in equipment leasing and financing, within the financial services industry. It was incorporated on 06 December 2021 (5+ years old) and is registered under CIN U71290DL2021PTC390888.
Upgrid Electrilease has 2 current directors:
- Siddharth Sikka - Director
- Pulkit Khurana - Director
The latest financial statements of Upgrid Electrilease on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 29 August 2025. Year-wise statements from FY 2022 are in the company report.
The GSTIN of Upgrid Electrilease is 07AACCU9851A1ZD, registered in Delhi. The company has 7 GST registrations in all, of which 7 are active. Other active GSTINs include 08AACCU9851A1ZB (Rajasthan), 09AACCU9851A1Z9 (Uttar Pradesh), 05AACCU9851A1ZH (Uttarakhand).
The CIN (Corporate Identification Number) of Upgrid Electrilease is U71290DL2021PTC390888. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Upgrid Electrilease has 1 court case on record: 1 filed by the company.
Upgrid Electrilease was incorporated on 06 December 2021, making it 5+ years old. It is registered with the Registrar of Companies, Delhi.
Upgrid Electrilease has 10 deals on record (10 debt financings), with disclosed funding of ₹2,208 Cr; the latest was in June 2024.
The peers of Upgrid Electrilease by revenue are U P Asbestos Limited, Rushabh Sealink and Logistic Private Limited, Mtandt Rentals Limited, all in the BFSI industry (Machinery and Equipment Leasing), with the same principal business activity (rental and leasing of motor vehicles, machinery, equipment, capital goods, etc. activities).
Pulkit Khurana was appointed as Director on 06 Dec 2021. Siddharth Sikka was appointed as Director on 06 Dec 2021.
Upgrid Electrilease can be reached through the website batterysmart.in. Its registered office is in New Delhi, Delhi, India.