Company lists
The India edition · 2026

Energycompanies in India

Solar, renewables, oil & gas, power, storage and more: the companies building energy in India, with their founders, funding, team size and business models.

5,331 company profiles2,659 with reported revenue166 with recorded fundingSeptember 2026 edition
India · Photo: Wikimedia Commons (CC BY-SA 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: 1503 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 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
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
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 (UPCL)

Sharika Enterprises, a power sector and smart infrastructure solution company, has secured a key subcontract for the deployment of an Advanced Distribution Management System (ADMS) under…

Power distribution
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
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
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…

Infrastructure
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
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

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
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
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

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

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

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 India, by revenue

Browse energy companies in India 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 2,659 energy companies in India 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

Provider of oil and gas refining, distribution & marketing infrastructure services

Oil & gas downstream services
₹885,078.30 crFY 2023-24
Not reported
41,688-2% 12 mo to Mar 2024LinkedIn · Jul 2026
67 yr1959
1postings · last posted Sep 2026

Provider of crude oil & natural gas exploration and production services

Oil & gas midstream
₹655,258.94 crFY 2023-24
Not reported
16,682LinkedIn · Jul 2026
70 yr1956
0none in 3 months

Government entity engaged in the generation of electricity and allied activities

Non- renewable power generation
₹181,165.86 crFY 2023-24
Not reported
25,955+3% 12 mo to Mar 2024LinkedIn · Jul 2026
51 yr1975
0none in 3 months

Coal mining corporation

Non- renewable power generation
₹150,293.06 crFY 2023-24
Not reported
837-6% 12 mo to Mar 2023LinkedIn · Jul 2026
51 yr1975
—No postings tracked

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

Provider of natural gas exploration, production, transmission, marketing, and processing services

Oil & gas midstream
₹134,507.35 crFY 2023-24
Not reported
9,237-5% 12 mo to Sep 2024LinkedIn · Jul 2026
42 yr1984
0none in 3 months

Provider of electricity distribution

Electricity transmission & distribution project developer
₹127,996.59 crFY 2024-25
+10%2024–2025
70,000recorded
21 yr2005
0none in 3 months

Operator of oil and gas refinery

Oil & gas upstream
₹99,720.40 crFY 2024-25
+9%2024–2025
3,938+1% 12 mo to Mar 2023LinkedIn · Jul 2026
19 yr2007
0none in 3 months

Provider of solar panels and clean, renewable energy solutions

Solar energy
₹89,609.55 crFY 2023-24
+13%2023–2024
—Not available
33 yr1993
0none in 3 months

Oil Refining Company

Oil & gas downstream
₹79,283.01 crFY 2023-24
Not reported
1,678-6% 12 mo to Sep 2024LinkedIn · Jul 2026
61 yr1965
0none in 3 months

Manufacturing of PV modules and solar cells

Solar energy
₹66,809.34 crFY 2024-25
+4%2024–2025
1,177-1% 12 mo to Aug 2023recorded Aug 2023
37 yr1989
0none in 3 months

Provider of electricity generation, transmission, and distribution services

Utilities
₹63,272.32 crFY 2023-24
Not reported
13,671-0% 12 mo to Mar 2024LinkedIn · Jul 2026
107 yr1919
3postings · last posted Sep 2026

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

Chains providing fuel, electric vehicle charging, and convenience store services

Oil & gas downstream
₹51,067.48 crFY 2024-25
+33%2024–2025
2,622-100% 12 mo to Oct 2024LinkedIn · Jul 2026
18 yr2008
5postings · last posted Sep 2026

Provider of power management solutions

Energy regulatory & industry bodies
₹44,323.35 crFY 2021-22
Not reported
—Not available
20 yr2006
—No postings tracked

Provider of electricity transmission services

Utilities
₹46,913.12 crFY 2023-24
Not reported
6,758-5% 12 mo to Nov 2023LinkedIn · Jul 2026
37 yr1989
0none in 3 months

Provider of oil & gas exploration and production services

Oil & gas upstream
US$5.00bnDec 2024
+60%2023–2024
461+112% 12 mo to Dec 2023recorded Dec 2023
12 yr2014
0none in 3 months

Government entity focused on distribution of electricity

Government entities
₹38,745.33 crFY 2024-25
+16%2024–2025
7,500recorded
19 yr2007
0none in 3 months

Developer and producer of crude oil and natural gas

Oil & gas upstream
₹37,646.48 crFY 2023-24
Not reported
3,219-6% 12 mo to Sep 2024recorded Sep 2024
67 yr1959
2postings · last posted Jul 2026

Provider of electricity billing information services

Energy regulatory & industry bodies
₹34,254.70 crFY 2022-23
Not reported
18,244+10% 12 mo to Jul 2024recorded Jul 2024
12 yr2014
—No postings tracked

Supplier of electricity

Energy regulatory & industry bodies
₹26,466.32 crFY 2022-23
Not reported
—Not available
20 yr2006
0none in 3 months

Operating a fleet of thermal, hydroelectric, and gas-based power plants, with a total installed capacity

Energy regulatory & industry bodies
₹22,184.00 crFY 2021-22
Not reported
693LinkedIn · Jul 2026
21 yr2005
0none in 3 months

Manufacturer of electrical component

Electricity transmission & distribution equipment
₹24,439.05 crFY 2023-24
Not reported
1,050-89% 12 mo to Jun 2024LinkedIn · Jul 2026
62 yr1964
0none in 3 months

Supplier of electricity

Utilities
₹20,587.88 crFY 2021-22
Not reported
450-1% 12 mo to Mar 2024recorded Mar 2024
23 yr2003
0none in 3 months

Power utility company responsible for the transmission, distribution, and supply of electricity, providing services to residential, commercial, and industrial consumers

Utilities
₹22,682.80 crFY 2024-25
+4%2024–2025
3,010LinkedIn · Jul 2026
15 yr2011
0none in 3 months
50 of 5,331 companies shown here · the full list is on Radar
Fliar Radar

Explore all 5,331 energy companies in India on Radar

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

Open energy in India on Radar
  • Every company, not just 50All 5,331 energy companies in India, 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 India by what you are looking for

Browse top energy companies in India, from solar and wind to oil and gas and power equipment. You can also find energy startups in India and energy companies hiring in India.

9 ways to explore energy in India

Solar energy companiesWind, bioenergy & renewable power companiesOil, gas & petroleum companiesPower transmission & electrical equipment makersBattery & energy storage companiesEnergy efficiency & lighting solutions

Solar energy companies

Solar panel makers, installers and solar project developers.

  1. Redington

    Provider of solar panels and clean, renewable energy solutions

    Solar energy
    See in list
  2. Tata Power Solar

    Manufacturing of PV modules and solar cells

    Solar energy
    See in list
  3. Waaree Energies

    Manufacturer of solar PV modules

    Solar energy
    See in list
  4. KPCL

    Independent hydel, thermal, solar and wind power producer

    Solar energy
    See in list
  5. Premier Energies

    Developer of solar energy projects

    Solar energy
    See in list

Wind, bioenergy & renewable power companies

Wind, biomass, biofuel, hydro and other renewable energy companies.

  1. Adani Green Energy

    Independent power producer from renewable energy sources

    Solar energy
    See in list
  2. Suzlon

    Wind turbine manufacturer

    Wind energy
    See in list
  3. Tata Power Renewable Energy

    Developer of large-scale renewable energy projects

    Solar energy
    See in list
  4. Kintech Renewables

    Developer of solar and wind energy projects

    Wind energy
    Website
  5. Inoxwind

    Manufactures wind turbine components

    Wind energy
    Website

Oil, gas & petroleum companies

Refiners, fuel and gas distributors and oilfield service providers.

  1. Indian Oil

    Provider of oil and gas refining, distribution & marketing infrastructure services

    Oil & gas downstream services
    See in list
  2. ONGC

    Provider of crude oil & natural gas exploration and production services

    Oil & gas midstream
    See in list
  3. HMEL

    Operator of oil and gas refinery

    Oil & gas upstream
    See in list
  4. Chennai Petroleum Corporation

    Oil Refining Company

    Oil & gas downstream
    See in list
  5. Permian Resources

    Provider of oil & gas exploration and production services

    Oil & gas upstream
    See in list

Power transmission & electrical equipment makers

Manufacturers of transformers, cables and grid equipment, and transmission developers.

  1. Adani Group

    Diversified conglomerate operating across multiple industries

    Non- renewable power generation
    See in list
  2. Tata Power

    Provider of electricity generation, transmission, and distribution services

    Utilities
    See in list
  3. Power Grid

    Provider of electricity transmission services

    Utilities
    See in list
  4. WBSEDCL

    Government entity focused on distribution of electricity

    Government entities
    See in list
  5. Bharat Heavy Electricals

    Manufacturer of electrical component

    Electricity transmission & distribution equipment
    See in list

Battery & energy storage companies

Battery makers and energy storage solution providers.

  1. Jio-bp

    Chains providing fuel, electric vehicle charging, and convenience store services

    Oil & gas downstream
    See in list
  2. Exide

    Provider of car battery emergency services and doorstep service for inverter batteries and HUPS

    Services for energy storage
    See in list
  3. Amara Raja Energy & Mobility

    Manufacturer of lead acid batteries

    Energy storage
    See in list
  4. Chloride Metals

    Manufacturers of lead & lead based products for the battery industry

    Energy storage
    Website
  5. HBL Power Systems

    Manufacturers of specialized Batteries and DC Power Systems

    Energy storage
    Website

Energy efficiency & lighting solutions

Energy-saving equipment, LED lighting and building energy management.

  1. MP Power Management Company

    Provider of power management solutions

    Energy regulatory & industry bodies
    See in list
  2. RattanIndia Enterprises

    Rooftops solar services

    Services for energy efficiency
    Website
  3. RR Global

    Manufacturer of electrical equipment

    Energy efficiency
    Website
  4. GM Modular

    Manufacturer of switches, home automation systems, lighting, and electrical products

    Energy efficiency
    Website
  5. Energy Efficiency Services

    Provider of energy efficiency solutions and services

    Services for energy efficiency
    Website

Listed energy companies in India

Publicly listed energy companies in India.

  1. Indian Oil

    Provider of oil and gas refining, distribution & marketing infrastructure services

    Oil & gas downstream services
    See in list
  2. ONGC

    Provider of crude oil & natural gas exploration and production services

    Oil & gas midstream
    See in list
  3. NTPC

    Government entity engaged in the generation of electricity and allied activities

    Non- renewable power generation
    See in list
  4. Coal India

    Coal mining corporation

    Non- renewable power generation
    See in list
  5. Adani Group

    Diversified conglomerate operating across multiple industries

    Non- renewable power generation
    See in list
231 companies in India

Energy startups in India

Newer energy companies founded in the last few years.

  1. GMR Power & Urban

    Provider of infrastructure development services

    Solar energy
    See in list
  2. TP Northern Odisha Distribution

    Provider of electricity distribution services

    Utilities
    Website
  3. Bajel Projects

    Provider of power transmission and distribution solutions

    Electricity transmission & distribution project developer
    Website
  4. Jash Energy

    Manufacturer of solar tracker components, including posts, tubes, purlins, and fasteners

    Solar energy
    Website
  5. GREW

    Manufacturer of solar modules and provider of solar energy solutions

    Solar energy
    Website
451 companies in India

Energy companies hiring in India

Energy companies with open roles right now.

  1. Indian Oil

    Provider of oil and gas refining, distribution & marketing infrastructure services

    Oil & gas downstream services
    See in list
  2. Tata Power

    Provider of electricity generation, transmission, and distribution services

    Utilities
    See in list
  3. Adani Power

    Thermal power production company

    Global 2000
    See in list
  4. Jio-bp

    Chains providing fuel, electric vehicle charging, and convenience store services

    Oil & gas downstream
    See in list
  5. Oil India

    Developer and producer of crude oil and natural gas

    Oil & gas upstream
    See in list
28 companies in India
Mobile reach

Top 10 energy apps from India

The most-installed Android apps published by energy companies headquartered in India — 41.9M installs between them. 202 companies on this page publish at least one app; each company (legal entity) appears once, with its most-installed app.

1 of 10
3

Bihar Bijli Smart Meter

by NBPDCL

Installs5.2M
Rating3.96136K ratings
Last updatedNov 2025
View on Google Play ↗
Bihar Bijli Smart Meter screenshot 1Bihar Bijli Smart Meter screenshot 2Bihar Bijli Smart Meter screenshot 3Bihar Bijli Smart Meter screenshot 4
4

TNEB Mobile App(Official)

by TANGEDCO

Installs4.7M
Rating3.2918K ratings
Installs, year on year+21%
Last updatedJul 2025
View on Google Play ↗
TNEB Mobile App(Official) screenshot 1TNEB Mobile App(Official) screenshot 2TNEB Mobile App(Official) screenshot 3TNEB Mobile App(Official) screenshot 4TNEB Mobile App(Official) screenshot 5TNEB Mobile App(Official) screenshot 6
5

Vidyut Sahayogi

by WBSEDCL

Installs3.8M
Rating3.7455K ratings
Last updatedApr 2026
View on Google Play ↗
Vidyut Sahayogi screenshot 1Vidyut Sahayogi screenshot 2Vidyut Sahayogi screenshot 3Vidyut Sahayogi screenshot 4Vidyut Sahayogi screenshot 5Vidyut Sahayogi screenshot 6
6

TGSPDCL Citizen App

by TGSPDCL

Installs2.9M
Rating4.125K ratings
Installs, year on year+14%
Last updatedApr 2026
View on Google Play ↗
TGSPDCL Citizen App screenshot 1TGSPDCL Citizen App screenshot 2TGSPDCL Citizen App screenshot 3TGSPDCL Citizen App screenshot 4TGSPDCL Citizen App screenshot 5TGSPDCL Citizen App screenshot 6
7

Bihar Urja Smart Meter App

by SBPDCL

Installs2.1M
Rating4.319K ratings
Installs, year on year+44%
Last updatedMay 2026
View on Google Play ↗
Bihar Urja Smart Meter App screenshot 1Bihar Urja Smart Meter App screenshot 2Bihar Urja Smart Meter App screenshot 3Bihar Urja Smart Meter App screenshot 4Bihar Urja Smart Meter App screenshot 5Bihar Urja Smart Meter App screenshot 6
9

My Tata Power- Consumer App

by Tata Power

Installs2.0M
Rating3.7523K ratings
Last updatedOct 2025
View on Google Play ↗
My Tata Power- Consumer App screenshot 1My Tata Power- Consumer App screenshot 2My Tata Power- Consumer App screenshot 3My Tata Power- Consumer App screenshot 4My Tata Power- Consumer App screenshot 5My Tata Power- Consumer App screenshot 6
10

IndianOil For Business

by Indian Oil

Installs1.8M
Rating4.2430K ratings
Last updatedMay 2026
View on Google Play ↗
IndianOil For Business screenshot 1IndianOil For Business screenshot 2IndianOil For Business screenshot 3IndianOil For Business screenshot 4IndianOil For Business screenshot 5IndianOil For Business screenshot 6
The business behind the activity

Energy financials in India

Revenue, profit and growth from the filed annual accounts of 2365 energy companies in India for FY24-25 — 2,823 of the 5,331 companies on this page file accounts with the Ministry of Corporate Affairs. The five largest earn 36% of the revenue, so medians describe the typical company better than totals.

combined revenue, FY24-25₹1,905,623.01 cr

2365 companies filing accounts

combined net profit₹166,712.61 cr

8.7% aggregate margin

are profitable83%

1970 of 2365 companies

median revenue~₹18.2 cr

the typical company

median revenue growth+18%

into FY24-25

earned by the top five36%

revenue concentration

Six-year view

Combined revenue of filing companies

₹1,072,107.17 crFY19-202063 filers
₹1,010,150.08 crFY20-212189 filers
₹1,338,028.25 crFY21-222317 filers
₹1,783,265.34 crFY22-232394 filers
₹1,834,070.25 crFY23-242446 filers
₹1,905,623.01 crFY24-252365 filers

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

Like-for-like

The same 2115 companies over three years

+13%
FY22-23₹1,652,656.97 cr₹131,410.16 cr net
FY23-24₹1,732,711.35 cr₹149,218.85 cr net
FY24-25₹1,861,561.22 cr₹164,497.97 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 cr33845% profitable
₹1–10 cr59683% profitable
₹10–100 cr85692% profitable
₹100–1,000 cr43093% profitable
Over ₹1,000 cr14594% profitable

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

Momentum

How fast revenue moved into FY24-25

Shrinking666
0–20%501
20–50%444
50–100%286
Doubled+369

2266 companies with accounts for both years; median growth +18%.

Profitability

Profit is concentrated at the top

1970profitable
392loss-making
8.7%aggregate margin
2.6%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
GattuwalaYULONG GATTUWALA ENERGY SOLUTIONS PRIVATE LIMITED₹28.20 cr
Greenative PetrochemGREENATIVE PETROCHEM PRIVATE LIMITED+942%
SolencoSOLENCO INFRA PRIVATE LIMITED₹51.49 cr
PV LumensPV LUMENS INDIA PRIVATE LIMITED+815%₹609.00 cr
WinnerspitchWINNERSPITCH ENERGY PRIVATE LIMITED
USEIPLUNITED SUSTAINABLE ENERGY INDIA PRIVATE LIMITED+687%₹18.58 cr
Profit leaders · ₹10 cr+ revenue

Highest net margins, FY24-25

CompanyMarginRevenue
GMR Power & UrbanGMR POWER AND URBAN INFRA LIMITED
Indu GroupINDU PROJECTS LIMITED98.1%₹334.55 cr
USEIPLUNITED SUSTAINABLE ENERGY INDIA PRIVATE LIMITED97.3%₹18.58 cr
Coal IndiaCOAL INDIA LTD GOVT OF INDIA UNDERTAKING93.4%₹18,221.46 cr
R2V2R2V2 TECHNOLOGIES PRIVATE LIMITED86.9%
Rohan BRC Gas EquipmentROHAN BRC GAS EQUIPMENT PRIVATE LIMITED84.2%
Inside the industry

Sub-sectors compared, FY24-25

Sub-sectorCompaniesRevenueMedian revenueProfitableMargin
Oil & gas upstream33₹277,310.49 cr~₹31.1 cr76%15.0%
Solar energy940₹236,784.26 cr~₹11.2 cr84%7.2%
Non- renewable power generation24₹233,829.65 cr~₹103.5 cr96%14.4%
Oil & gas downstream70₹200,227.04 cr~₹173.1 cr83%4.9%
Electricity transmission & distribution project developer112₹162,002.16 cr~₹40.6 cr88%2.1%
Oil & gas midstream26₹159,388.04 cr~₹83.6 cr85%9.6%
Energy regulatory & industry bodies8₹128,027.35 cr~₹5,814.4 cr62%-3.6%
Utilities31₹121,192.32 cr~₹102.2 cr97%14.2%
Leaders

Largest energy companies by revenue, FY24-25

Company · legal entityRevenueNet resultMarginGrowth
NTPCNTPC LIMITED₹174,413.49 cr₹19,649.41 cr11.3%+5%
Ongc Videsh, ONGCOIL AND NATURAL GAS CORPORATION LIMITED₹148,325.73 cr₹35,610.32 cr24.0%-1%
GAILGAIL (INDIA) LIMITED₹139,688.81 cr₹11,312.32 cr8.1%+5%
Maharashtra State Electricity DistributionMAHARASHTRA STATE ELECTRICITY DISTRIBUTION COMPANY LIMITED₹127,996.58 cr₹922.21 cr0.7%+10%
HMELHPCL-MITTAL ENERGY LIMITED₹99,191.80 cr−₹820.50 cr-0.8%+8%
Chennai Petroleum CorporationCHENNAI PETROLEUM CORPORATION LIMITED₹71,093.43 cr₹173.53 cr0.2%-10%
Adani PowerADANI POWER LIMITED₹52,571.11 cr₹11,559.85 cr22.0%-7%
Petronet LNGPETRONET LNG LIMITED₹3,926.37 cr
Power GridPOWER GRID CORPORATION OF INDIA LIMITED₹46,325.32 cr₹15,353.57 cr33.1%+1%
TSSPDCLSOUTHERN POWER DISTRIBUTION COMPANY OF TELANGANA LIMITED₹44,953.46 cr−₹1,102.88 cr-2.5%+10%
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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 India

The financials above are one chapter. The full energy landscape of India 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 India
For investors and data teams

Put this intelligence into your own tools

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 India 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 India

166 energy companies in India have recorded equity funding, US$10.79bn in total. Totals and round dates describe the historical record; they are not current valuations.

Founders and momentum in India

Meet the people behind energy companies in India. 1,785 of 5,331 companies list founders or leaders; where a public LinkedIn profile matches exactly, the expanded profile shows the photo, headline, location and education.

Explore India energy companies by sub-sector

The most common specialisations among energy companies in India. 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.

Coming soon