Company lists
The Ahmedabad edition · 2026

Energycompanies in Ahmedabad

Solar, wind & renewables, power equipment, oil & gas, energy efficiency and more: the companies building energy in Ahmedabad, Gujarat, with their founders, funding, team size and business models.

247 company profiles141 with reported revenue11 with recorded fundingSeptember 2026 edition
Ahmedabad · Photo: Wikimedia Commons (Creative Commons Attribution-ShareAlike 4.0)

Recent energy business events in India

Funding, M&A, contract wins and launches involving 6,577 energy companies in India, last 24 months: 1501 Contracts · 323 M&A deals · 137 funding rounds · 18 launches. Newest first; companies and investors link to their Fliar profiles. Latest event in our news feed: Jun 2026.

M&AAcquisition · Announced

Adani energy solutions acquires Intellismart

Adani Group's Adani Energy Solutions (AESL) has announced its 100% acquisition of IntelliSmart Infrastructure Private Limited, playing a big stake in India's smart metering sector. The…

Smart metering
M&AAcquisition · Announced

Adani energy solutions acquires IntelliSmart Infrastructure

Adani Energy Solutions (AESL) has signed a binding securities purchase and subscription agreement to acquire 100% of the equity in smart metering company IntelliSmart Infrastructure.

Smart Metering
ContractInfrastructure

Bharat heavy electricals · client: Meja Urja Nigam

Shares of state-owned Bharat Heavy Electricals Limited went up by over 2 per cent on Friday after the engineering major secured an order worth over Rs 21,000 crore from Meja Urja Nigam…

Power
ContractInfrastructure

Bhel · client: Meja Urja Nigam

BHEL announced it has bagged an order worth Rs 21,000 crore for the development of a thermal power plant in Uttar Pradesh, awarded by Meja Urja Nigam Private (MUNPL).

Energy
ContractSupply

Bharat heavy electricals · client: Dangote Petroleum Refinery & Petrochemicals Free Zone Enterprise

Bharat Heavy Electricals Limited (BHEL) signed a contract on 2 June 2026 with Dangote Petroleum Refinery & Petrochemicals Free Zone Enterprise in Nigeria for a refinery and petrochemical…

Energy
M&AAcquisition · Announced

AM Green acquires Assam Bio Refinery

This divestment strategy coincides with AM Green's plans to acquire Fortum Oyj's and Chempolis Oy's 50% stake in their joint venture, Assam Bio Refinery Pvt Ltd, along with the Finnish…

Biotechnology
M&AAcquisition · Completed

Life insurance corporation of india acquires NHPC

Life Insurance Corporation of India (LIC) has increased its holding in state-owned hydropower major NHPC Ltd by acquiring a 0.76 per cent stake through open market transactions on June…

Hydropower
ContractService

BigTrunk Communications · client: Velvex

BigTrunk Communications has added another marquee account to its roster, securing the national digital and social media mandate for Velvex, the lubricant brand owned by Nandan Petrochem…

Advertising
ContractTechnology

Sharika enterprises · client: Uttarakhand Power Corporation

Sharika Enterprises has secured a subcontract for the deployment of an Advanced Distribution Management System (ADMS) under Uttarakhand Power Corporation's flagship Ganga Corridor power…

Power Distribution
ContractService

BigTrunk Communications · client: Nandan Petrochem

BigTrunk Communications, an independent integrated advertising agency known for its data-driven and creative approach, has secured the national digital and social media mandate for…

Advertising
ContractService

Power mech projects · client: Adani Infrastructure Management Services Limited

Power Mech Projects Limited has secured a new order worth ₹266.26 crore from Adani Infrastructure Management Services Limited for operations and maintenance services at a thermal power…

Power
ContractInfrastructure

Bajel Projects · client: Datacenter Client

Bajel Projects has received a mega EPC contract from Datacenter Client (Mumbai) for design, engineering, procurement, supply, erection, testing, commissioning and performance testing of…

Power infrastructure
ContractSupply

Ganesh Green Bharat · client: NTPC Renewable Energy

Ganesh Green Bharat Ltd bagged a 1,000 MWh Battery Energy Storage System (BESS) engineering, procurement, and construction (EPC) contract from NTPC Renewable Energy Ltd (NTPC REL).

Renewable energy
FundingQualified Institutional Placement (QIP)

Acme solar

Acme Solar aims to raise up to ₹2,800 crore through the QIP. The issue comprises a base size of ₹2,600 crore, along with a greenshoe option of ₹200 crore.

Investors Na
ContractSupply

DEE Development Engineers · client: Bharat Petroleum

The contracts include a INR 386.83 crore order from Bharat Petroleum Corporation (BPCL) for the manufacturing and supply of piping systems

Energy
ContractSupply

United drilling tools · client: Shivganga Drillers

United Drilling Tools has secured a domestic order worth around Rs 16.62 lakh from Shivganga Drillers. The order is for the supply of Stabilizer(s) used in Oil and Gas Industry in the…

Oil and Gas
ContractSupply

Sharika enterprises · client: East india udyog

Smart grid firm Sharika Enterprises Limited has secured a ₹24.90 crore subcontract from East India Udyog Limited for UPCL's Ganga Corridor project.

Power
M&AAcquisition · Announced

Aditya birla group acquires Sprng energy

According to sources to Manicontrol, after collecting binding bids, Aditya Birla Group, led by Kumar Mangalum Birla, has taken the lead in the race to buy Indian Renewable Energy…

Renewable Energy
ContractSupply

Transrail lighting · client: Na

Transrail Lighting, a leading engineering, procurement and construction (EPC) company, has secured fresh orders worth ₹575 crore, further strengthening its presence across the…

Infrastructure
ContractSupply

Hirschvogel Components · client: Hinduja renewables

Hinduja Renewables Energy Private Limited (HREPL), the renewable energy Company of the Hinduja Group, has signed solar Power Delivery Agreements with Höganäs India Private Limited and…

Renewable energy
ContractSupply

Hoganäs India Private Limited · client: Hinduja renewables

Hinduja Renewables Energy Private Limited (HREPL), the renewable energy Company of the Hinduja Group, has signed solar Power Delivery Agreements with Höganäs India Private Limited and…

Renewable energy
ContractSupply

Saatvik Green Energy · client: Domestic independent power producer

Saatvik Green Energy Limited today announced that it has received and accepted an order aggregating to ₹171.45 crore for a domestic independent power producer.

Clean energy / solar
M&AAcquisition · Completed

Power grid corporation of india acquires TUMKUR II RE Transmission Limited

Power Finance Corporation Limited completed the transfer of its wholly owned subsidiary, TUMKUR II RE Transmission Limited, to Power Grid Corporation of India Limited on May 29, 2026,…

Transmission
M&AAcquisition · Completed

Thakral acquires TIL Investments Private Limited (TIL)

Thakral Corporation Ltd (TCL) has completed the acquisition of an additional 81.64% equity stake in TIL Investments Private Limited (TIL) through its wholly-owned subsidiary, Paramount…

Healthcare-led real estate development
M&AAcquisition · Completed

Man industries acquires National

India-based MAN Industries has completed the acquisition of 100pct equity stake in Saudi Arabia's National Pipe Company Limited (NPC) through its wholly owned Saudi subsidiary Man…

Manufacturing
M&AAcquisition · Pending

Dalmia Bharat Refractories acquires Dalmia

The company is also in talks to acquire Dalmia Magnesite Corporation, pending regulatory approval.

Refractory Industry
M&AAcquisition · Completed

Birla Mutual Fund acquires Adani energy solutions

Qatar Holding LLC, a Qatari investment authority affiliated to the Qatari Investment Authority, sold 48.05 lakh shares of Adani Energy Solutions in a big deal on the open market on…

Energy
M&AAcquisition · Announced

Adani power acquires Jaiprakash power ventures

Adani Power Ltd has also expanded its energy portfolio by acquiring JAL's power assets. This includes a 24% stake in Jaiprakash Power Ventures Ltd (JPVL) and a 180 MW thermal power plant…

Power
M&AAcquisition · Completed

Man industries acquires Npc

This acquisition represents a strategic move for Man Industries, as NPC possesses a robust balance sheet with cash and liquid assets amounting to USD 83 million.

M&AAcquisition · Announced

Adani power acquires JP Power (Jay Prakash Power Ventures Limited)

Adani Power has announced on Thursday that it has made definitive agreements with Jay Prakash Associates Limited (JP Associates). The agreement is to acquire a 24 per cent stake in JP…

Power

Energy companies in Ahmedabad, by revenue

Browse energy companies in Ahmedabad by reported revenue, one-year revenue growth, revenue model, age and stage. The 50 companies below are the largest by their most recent reported revenue among 141 energy companies in Ahmedabad, Gujarat that have filed a figure in the last four years. Every figure keeps its own reporting period, so compare periods before comparing amounts.

Showing 25 of 50

Diversified conglomerate operating across multiple industries

Non- renewable power generation
₹138,175.12 crFY 2022-23
Not reported
21,545+7% 12 mo to Jun 2024LinkedIn · Jul 2026
38 yr1988
0none in 3 months

Thermal power production company

Global 2000
₹60,281.48 crFY 2023-24
Not reported
7,492-1% 12 mo to Jul 2024LinkedIn · Jul 2026
20 yr2006
55postings · last posted Sep 2026

Independent power producer from renewable energy sources

Solar energy
₹12,422.00 crFY 2024-25
+18%2024–2025
3,501-26% 12 mo to Jul 2024LinkedIn · Jul 2026
14 yr2012
5postings · last posted Sep 2026

Producer of solar cells and modules

Solar energy
₹6,488.37 crFY 2024-25
+99%2024–2025
5,591+7% 12 mo to Mar 2024LinkedIn · Jul 2026
12 yr2014
11postings · last posted Aug 2026

Developer of solar and wind energy projects

Wind energy
₹5,936.37 crFY 2024-25
+119%2024–2025
124+288% 12 mo to Sep 2024recorded Sep 2024
41 yr1985
0none in 3 months

Piped natural gas distribution company

Oil & gas downstream
₹5,442.48 crFY 2024-25
+12%2024–2025
225+0% 12 mo to Mar 2024LinkedIn · Jul 2026
22 yr2004
26postings · last posted Aug 2026

Manufacturer of solar modules and provider of solar energy solutions

Solar energy
₹1,429.59 crFY 2024-25
+605%2024–2025
18recorded Sep 2024
4 yr2022
0none in 3 months

Developer of solar and wind energy projects

Solar energy
₹1,403.30 crFY 2024-25
+74%2024–2025
83-2% 12 mo to Sep 2024recorded Sep 2024
10 yr2016
0none in 3 months

Manufacturer of transformers

Electricity transmission & distribution equipment
₹1,300.50 crFY 2023-24
Not reported
711+2% 12 mo to Mar 2023LinkedIn · Jul 2026
32 yr1994
1postings · last posted Sep 2026

Provider of LNG importing services

Oil & gas downstream
₹1,093.87 crFY 2023-24
Not reported
—Not available
8 yr2018
—No postings tracked

Manufacturer & supplier of AC compressor and refrigerator

Energy efficiency
₹1,081.03 crFY 2023-24
+34%2023–2024
364-54% 12 mo to Sep 2024recorded Sep 2024
13 yr2013
0none in 3 months

Integrated value-driven energy enterprise developing natural gas distribution projects

Utilities
₹1,090.76 crFY 2024-25
+11%2024–2025
196+18% 12 mo to Jan 2024recorded Jan 2024
10 yr2016
1postings · last posted Aug 2026

Provider of solar EPC, IPP services, and battery energy storage systems

Solar energy
₹1,022.91 crFY 2024-25
+7%2024–2025
405+100% 12 mo to Jul 2024LinkedIn · Jul 2026
13 yr2013
0none in 3 months · last posted Jun 2026

Provider of solar advisory and execution services

Solar energy
₹995.89 crFY 2023-24
+147%2023–2024
192+500% vs previous recordLinkedIn · Jul 2026
14 yr2012
0none in 3 months

Provider of natural gas distribution services

Oil & gas downstream
₹753.93 crFY 2021-22
Not reported
1,103+20% 12 mo to Jul 2023LinkedIn · Jul 2026
67 yr1959
0none in 3 months

Renewable energy company specializing in high-quality solar products

Solar energy
₹669.12 crFY 2024-25
+172%2024–2025
430-3% 12 mo to Sep 2024LinkedIn · Jul 2026
21 yr2005
1postings · last posted Aug 2026

Supplier of natural gas

Oil & gas downstream
₹614.34 crFY 2023-24
Not reported
10LinkedIn · Jul 2026
4 yr2022
0none in 3 months

Provider of solar water pumping systems and other solar energy solutions

Solar energy
₹520.37 crFY 2024-25
+42%2024–2025
—Not available
32 yr1994
0none in 3 months

Multinational conglomerate operating across six industry verticals, including flexible packaging, industrial material handling, solar renewables, drip irrigation and pipes

Solar energy
₹492.63 crFY 2024-25
+11%2024–2025
1,222+79% vs previous recordLinkedIn · Jul 2026
14 yr2012
0none in 3 months

Manufacturer of solar panels and other renewable energy products

Solar energy
₹441.14 crFY 2024-25
+193%2024–2025
285+98% 12 mo to Sep 2024LinkedIn · Jul 2026
13 yr2013
1postings · last posted Jul 2026

Installation of solar parabolic trough, solar water heaters and panels

Solar energy
₹409.67 crFY 2024-25
Not reported
119+11% 12 mo to Jul 2024recorded Jul 2024
34 yr1992
1postings · last posted Jul 2026

Provider of natural gas compressor, production and other services

Oil & gas midstream
₹352.59 crFY 2022-23
Not reported
914-13% 12 mo to Jul 2024LinkedIn · Jul 2026
35 yr1991
0none in 3 months · last posted Mar 2026

Manufacturer of mono and poly crystalline PV modules, solar pumps, and solar street lights

Solar energy
₹330.82 crFY 2024-25
+64%2024–2025
127+6% 12 mo to Sep 2024LinkedIn · Jul 2026
16 yr2010
0none in 3 months

Provider of EPC sustainable solutions utilizing green energy with a focus on solar power

Solar energy
₹321.76 crFY 2024-25
+87%2024–2025
134+456% 12 mo to Sep 2024LinkedIn · Jul 2026
27 yr1999
0none in 3 months

Deon Energy Limited: Solar infrastructure projects, Solar PV Modules, Manufacturing plan, Sustainable energy, Solar and Wind Energy

Solar energy
₹286.05 crFY 2024-25
Not reported
78LinkedIn · Jul 2026
8 yr2018
0none in 3 months · last posted Jun 2026
50 of 247 companies shown here · the full list is on Radar
Fliar Radar

Explore all 247 energy companies in Ahmedabad on Radar

This page shows the top 50. Radar has the complete, filterable list with contacts and live company signals.

Open energy in Ahmedabad on Radar
  • Every company, not just 50All 247 energy companies in Ahmedabad, filterable by stage, funding, team size, revenue model and age.
  • Founders and decision-makersLeadership teams with roles and verified LinkedIn profiles, ready for outreach.
  • Live signalsFunding rounds, hiring, launches and M&A as they happen, with alerts on the companies you follow.
  • Save and exportBuild lists, compare companies side by side and export them from your Radar account.

Explore energy companies in Ahmedabad by what you are looking for

Browse energy companies in Ahmedabad, from solar energy and wind power to oil and gas and electrical equipment makers. Find top energy companies in India based in Ahmedabad, renewable energy companies and energy startups.

9 ways to explore energy in Ahmedabad

Solar energy companies & solar panel manufacturersWind, hydro & renewable power developersElectrical transmission & distribution equipment makersOil, gas & petroleum companiesEnergy efficiency & energy storage companiesUtilities & power producers

Solar energy companies & solar panel manufacturers

Solar module makers, EPC developers and solar lighting companies.

  1. Adani Solar

    Producer of solar cells and modules

    Solar energy
    See in list
  2. GREW

    Manufacturer of solar modules and provider of solar energy solutions

    Solar energy
    See in list
  3. Vishakha Renewables

    Developer of solar and wind energy projects

    Solar energy
    See in list
  4. Solar ACE

    Provider of solar energy design, engineering, procurement, operation & maintenance services

    Solar energy
    Website
  5. Prozeal Green

    Provider of solar EPC, IPP services, and battery energy storage systems

    Solar energy
    See in list

Wind, hydro & renewable power developers

Wind turbine makers, renewable power producers and hybrid energy developers.

  1. Adani Green Energy

    Independent power producer from renewable energy sources

    Solar energy
    See in list
  2. Kintech Renewables

    Developer of solar and wind energy projects

    Wind energy
    See in list
  3. Peliswan Impex

    Supplier of industrial oils, fuels, biodiesel, and petroleum products

    Bioenergy
    See in list
  4. Jog Waste to Energy

    Developer of biogas digesters and biomass technologies

    Waste & water management
    Website
  5. Atmos Power

    Manufactures biogas plants, biogas purification plants etc.

    Bioenergy
    Website

Electrical transmission & distribution equipment makers

Manufacturers of transformers, cables, switchgear and power equipment, plus power project contractors.

  1. Rajesh Power

    Company specializes in underground power transmission and infrastructure EPC services

    Electricity transmission & distribution project developer
    See in list
  2. Om Power Transmission

    Electrical contracting company

    Electricity transmission & distribution project developer
    See in list
  3. Advait Infratech

    Provider of installation and maintenance services of power grids

    Transmission system operators (tso)
    Website
  4. Kaizen Electricals

    Manufacturer of DOL & star delta starter motor and pump controller products

    Electricity transmission & distribution equipment
    Website
  5. Rialto Cables

    Manufacturer of submersible pump, power, and building wires and cables

    Electricity transmission & distribution equipment
    Website
54 companies in Ahmedabad

Oil, gas & petroleum companies

Gas distribution, fuel, petrochemical, oilfield service and equipment companies.

  1. Adani Gas

    Piped natural gas distribution company

    Oil & gas downstream
    See in list
  2. Torrent Gas

    Provider of natural gas distribution services

    Oil & gas downstream
    See in list
  3. Matrix Gas & Renewables

    Supplier of natural gas

    Oil & gas downstream
    See in list
  4. Deep Industries

    Provider of natural gas compressor, production and other services

    Oil & gas midstream
    See in list
  5. Jainam Industries

    Company is a diversified business group with expertise in global trading of petroleum products

    Oil & gas downstream
    See in list

Energy efficiency & energy storage companies

Energy-saving equipment, lighting, building systems and battery storage.

  1. Highly

    Manufacturer & supplier of AC compressor and refrigerator

    Energy efficiency
    See in list
  2. GRE Renew Enertech

    Manufacturer of solar panels and indoor LED lights

    Solar energy
    Website
  3. Lincdigital

    Provider of integrated building management systems and turnkey solutions. This includes design, installation, and maintenance services for HVAC, fire safety, water treatment, and MEP building solutions. They offer a variety of products and services, such as CCTV, access control systems, fire alarm systems, and public announcement systems. The company also provides solutions for various sectors, including shopping malls, airports, and hospitals. Their services encompass the entire project lifecycle, from planning and execution to post-installation support.

    Energy efficiency
    Website
  4. Thermotechsystems

    Thermotechsystems

    Energy efficiency
    Website
  5. Tirth Polymers

    Manufacturer & exporter of plastic injection molded heat-sealed battery containers

    Energy storage
    Website

Utilities & power producers

Electricity, gas and power utilities and conglomerates.

  1. Adani Group

    Diversified conglomerate operating across multiple industries

    Non- renewable power generation
    See in list
  2. IRM Energy

    Integrated value-driven energy enterprise developing natural gas distribution projects

    Utilities
    See in list
  3. Su Mangala Coke

    Manufacturer and supplier of coke

    Utilities
    See in list
  4. Advait Infratech

    Provider of installation and maintenance services of power grids

    Transmission system operators (tso)
    Website
  5. Torrent Power

    Torrent Power Limited is engaged in the business of power generation, transmission and distribution.

    Global 2000
    Website

Energy startups in Ahmedabad

Newer energy companies founded in recent years.

  1. GREW

    Manufacturer of solar modules and provider of solar energy solutions

    Solar energy
    See in list
  2. Solar ACE

    Provider of solar energy design, engineering, procurement, operation & maintenance services

    Solar energy
    Website
  3. Knack Energy

    Manufacturer and exporter of solar photovoltaic encapsulants & backsheets

    Solar energy
    See in list
  4. GreenOps

    Developer of solar renewable energy power projects

    Solar energy
    Website
  5. FRIQS Automation

    Manufacturer of AC & DC drives, servo panel, and other products

    Electricity transmission & distribution equipment
    Website
18 companies in Ahmedabad

Energy companies hiring in Ahmedabad

Companies in this sector that currently have open roles.

  1. Adani Power

    Thermal power production company

    Global 2000
    See in list
  2. Transformers & Rectifiers

    Manufacturer of transformers

    Electricity transmission & distribution equipment
    See in list
  3. IRM Energy

    Integrated value-driven energy enterprise developing natural gas distribution projects

    Utilities
    See in list
  4. Prozeal Green

    Provider of solar EPC, IPP services, and battery energy storage systems

    Solar energy
    See in list
  5. KOSOL Energie

    Renewable energy company specializing in high-quality solar products

    Solar energy
    See in list
20 companies in Ahmedabad

Listed energy companies in Ahmedabad

Publicly listed energy companies.

  1. Adani Group

    Diversified conglomerate operating across multiple industries

    Non- renewable power generation
    See in list
  2. Kintech Renewables

    Developer of solar and wind energy projects

    Wind energy
    See in list
  3. Transformers & Rectifiers

    Manufacturer of transformers

    Electricity transmission & distribution equipment
    See in list
  4. IRM Energy

    Integrated value-driven energy enterprise developing natural gas distribution projects

    Utilities
    See in list
  5. Gensol

    Provider of solar advisory and execution services

    Solar energy
    See in list
20 companies in Ahmedabad
Mobile reach

Top 10 energy apps from Ahmedabad

The most-installed Android apps published by energy companies headquartered in Ahmedabad — 171K installs between them. 13 companies on this page publish at least one app; each company (legal entity) appears once, with its most-installed app.

1 of 10
8

Evotar Solar

by Evotar

Installs329
Rating—
Last updatedJun 2025
View on Google Play ↗
Evotar Solar screenshot 1Evotar Solar screenshot 2Evotar Solar screenshot 3Evotar Solar screenshot 4Evotar Solar screenshot 5Evotar Solar screenshot 6
9

Onecharge GreenPill

by Greenpill

Installs266
Rating—
Last updatedOct 2025
View on Google Play ↗
Onecharge GreenPill screenshot 1Onecharge GreenPill screenshot 2Onecharge GreenPill screenshot 3Onecharge GreenPill screenshot 4Onecharge GreenPill screenshot 5Onecharge GreenPill screenshot 6
The business behind the activity

Energy financials in Ahmedabad

Revenue, profit and growth from the filed annual accounts of 122 energy companies in Ahmedabad, Gujarat for FY24-25 — 139 of the 247 companies on this page file accounts with the Ministry of Corporate Affairs. The five largest earn 85% of the revenue, so medians describe the typical company better than totals.

combined revenue, FY24-25₹104,208.08 cr

122 companies filing accounts

combined net profit₹15,474.33 cr

14.8% aggregate margin

are profitable91%

111 of 122 companies

median revenue~₹35.6 cr

the typical company

median revenue growth+27%

into FY24-25

earned by the top five85%

revenue concentration

Six-year view

Combined revenue of filing companies

₹13,664.69 crFY19-20106 filers
₹14,896.63 crFY20-21108 filers
₹59,206.67 crFY21-22116 filers
₹108,024.47 crFY22-23125 filers
₹93,263.57 crFY23-24123 filers
₹104,208.08 crFY24-25122 filers

The number of companies filing changes each year; the three-year cohort below compares like with like.

Like-for-like

The same 113 companies over three years

+50%
FY22-23₹68,132.18 cr₹10,590.00 cr net
FY23-24₹90,246.96 cr₹20,939.53 cr net
FY24-25₹102,309.27 cr₹15,357.46 cr net

Companies with accounts for all three years, so growth is not an artefact of who filed.

Scale and profit

Bigger companies are far more often profitable

Under ₹1 cr771% profitable
₹1–10 cr2681% profitable
₹10–100 cr5294% profitable
₹100–1,000 cr2796% profitable
Over ₹1,000 cr10100% profitable

Companies by FY24-25 revenue. Bars show how many companies sit in each band.

Momentum

How fast revenue moved into FY24-25

Shrinking23
0–20%29
20–50%26
50–100%25
Doubled+15

118 companies with accounts for both years; median growth +27%.

Profitability

Profit is concentrated at the top

111profitable
11loss-making
14.8%aggregate margin
3.1%median margin

The aggregate margin is pulled up by a few large filers; the median shows the typical company.

Growth leaders · ₹10 cr+ revenue

Fastest growing, FY24-25

CompanyGrowthRevenue
GREWGREW ENERGY PRIVATE LIMITED+605%₹1,429.59 cr
GreenpillGREENPILL RENEWABLE ENERGY PRIVATE LIMITED+371%
Rajesh PowerRajesh Power Services Limited
Australian Premium SolarAUSTRALIAN PREMIUM SOLAR (INDIA) LIMITED+189%₹435.05 cr
Aatmanirbhar SolarAATMANIRBHAR SOLAR PRIVATE LIMITED
KOSOL EnergieKOSOL ENERGIE PRIVATE LIMITED+172%₹669.12 cr
Profit leaders · ₹10 cr+ revenue

Highest net margins, FY24-25

CompanyMarginRevenue
Rohan BRC Gas EquipmentROHAN BRC GAS EQUIPMENT PRIVATE LIMITED84.2%
Solar ManufacturerGRACE INFRASTRUCTURE PRIVATE LIMITED
CIMCONCIMCON SOFTWARE (INDIA) PRIVATE LIMITED
Adani PowerADANI POWER LIMITED22.0%₹52,571.11 cr
Deval Energy ResourcesDEVAL ENERGY RESOURCES PRIVATE LIMITED20.8%₹21.65 cr
Adani Energy SolutionsADANI ENERGY SOLUTIONS LIMITED20.3%
Inside the industry

Sub-sectors compared, FY24-25

Sub-sectorCompaniesRevenueMedian revenueProfitableMargin
Solar energy58₹35,587.46 cr~₹40.5 cr95%6.6%
Oil & gas downstream6₹6,541.41 cr~₹188.8 cr83%9.4%
Electricity transmission & distribution equipment13₹2,242.52 cr~₹23.7 cr85%8.7%
Oilfield services7₹492.41 cr~₹82.8 cr86%9.0%
Oil & gas equipment5₹292.56 cr~₹67.7 cr100%22.4%
Leaders

Largest energy companies by revenue, FY24-25

Company · legal entityRevenueNet resultMarginGrowth
Adani PowerADANI POWER LIMITED₹52,571.11 cr₹11,559.85 cr22.0%-7%
Adani Green EnergyAdani Green Energy Limited₹20,749.00 cr₹654.00 cr3.2%+61%
Adani SolarMUNDRA SOLAR PV LIMITED₹6,488.37 cr₹1,085.03 cr16.7%+99%
Adani GasADANI TOTAL GAS LIMITED₹5,431.56 cr₹648.02 cr11.9%+12%
Adani Energy SolutionsADANI ENERGY SOLUTIONS LIMITED20.3%+21%
Transformers & RectifiersTRANSFORMERS AND RECTIFIERS (INDIA) LIMITED₹1,982.92 cr₹187.57 cr9.5%+55%
GREWGREW ENERGY PRIVATE LIMITED₹1,429.59 cr₹80.18 cr5.6%+605%
IRM EnergyIrm Energy Limited₹1,090.76 cr₹47.05 cr4.3%+11%
Rajesh PowerRajesh Power Services Limited
Prozeal GreenPROZEAL GREEN ENERGY LIMITED₹1,055.83 cr₹112.63 cr10.7%+10%
Some figures are available to Radar members.Log in to Radar to see every figure

Standalone annual accounts filed with the Ministry of Corporate Affairs. Brands that share one legal entity are shown together and counted once.

Industry landscape report

Energy Industry Landscape of Ahmedabad

The financials above are one chapter. The full energy landscape of Ahmedabad maps the whole industry — every segment, the capital behind it, the talent market and where the next opportunities are.

  • Market map of every sub-sector
  • Funding & company formation by year
  • Revenue, profit & financial strength
  • Digital footprint: traffic, apps, releases
  • Hiring, skills & pay
  • Founders & leaders
  • News & sentiment
  • Where demand runs ahead of supply
Read the energy landscape of Ahmedabad
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The figures on this page come from Fliar’s company, funding and MCA filings data. Use it through the Investor Intelligence API and MCA financials feeds, or explore every company, filing and investor in Radar.

Capital & corporate activity

Energy funding and M&A across India

545 recorded equity rounds have gone to 6,577 energy companies in India — how much, at which stage, into which sub-sectors, from whom, and how Ahmedabad compares. Debt, IPO and grant rounds are excluded.

equity rounds, last 12 months23

US$796.81m

equity rounds, last 24 months71

US$1.47bn

raised over five yearsUS$5.37bn

219 rounds in India

M&A deals, India323

last 24 months

Capital by year

Equity funding into energy in India

amount rounds
$998m201829
$1.3bn201919
$443m202016
$668m202130
$1.3bn202234
$1.1bn202338
$984m202463
$900m202540
$406m202614

Bars show US$ raised; the number under each year is equity rounds. 2026 is year to date. The peak year was 2022, with US$1.31bn across 34 rounds.

The funding ladder · five years

Rounds and typical cheque by stage

AngelUS$102.98m26 rounds · median US$326k
SeedUS$142.06m82 rounds · median US$407k
Series AUS$430.28m42 rounds · median US$4.54m
Series BUS$717.57m25 rounds · median US$13.32m
Series CUS$601.70m16 rounds · median US$35.61m
Series D+US$2.17bn20 rounds · median US$58.75m
Private equityUS$1.20bn8 rounds · median US$100.00m
Where the money went · five years

Most-funded sub-sectors

Solar energyUS$3.38bn122 rounds · 64 companies
Wind energyUS$771.24m11 rounds · 4 companies
Renewable energy techUS$661.80m5 rounds · 3 companies
Electricity transmission & distribution equipmentUS$125.84m4 rounds · 4 companies
Diversified consumer electronics brandsUS$62.00m1 rounds · 1 companies
Hydro powerUS$57.58m2 rounds · 2 companies
Alternative lendingUS$54.61m4 rounds · 1 companies
Corporate activity · last 24 months

M&A in India

300Acquisition
18Merger
2Takeover

Most active acquirers

  1. Adani group37
  2. Power grid corporation of india17
  3. Waaree energies14
  4. Inox Clean Energy11
  5. Premier energies10

Most acquired or merged

  1. Sprng energy10
  2. Ayana renewable power9
  3. Wind World India7
  4. Castrol india7
  5. Vibrant energy6

Each deal appears in the events strip at the top of the page.

Energy funding in Ahmedabad

11 energy companies in Ahmedabad have recorded equity funding, US$269.72m in total. Totals and round dates describe the historical record; they are not current valuations.

Founders and momentum in Ahmedabad

Meet the people behind energy companies in Ahmedabad. 106 of 247 companies list founders or leaders; where a public LinkedIn profile matches exactly, the expanded profile shows the photo, headline, location and education.

Explore Ahmedabad energy companies by sub-sector

The most common specialisations among energy companies in Ahmedabad. Open a company to see what it sells, who runs it and how far it has come.

Keep exploring energy in India and nearby markets.

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