Company lists
The Rajasthan edition · 2026

Energycompanies in Rajasthan

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

174 company profiles79 with reported revenue3 with recorded fundingOctober 2026 edition
Rajasthan · 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: 1489 Contracts · 323 M&A deals · 135 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 · 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
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
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
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
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
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
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
ContractTechnology

Sharika enterprises · client: Uttarakhand power corporation limited (upcl)

Awarded under the Uttarakhand Power Corporation Limited's (UPCL) flagship Ganga Corridor power distribution modernization project, Sharika Enterprises will work with East India Udyog…

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 Rajasthan, by revenue

Browse energy companies in Rajasthan 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 79 energy companies in Rajasthan 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

Manufacturer of solar PV module & panel

Solar energy
₹1,343.02 crFY 2024-25
+81%2024–2025
501-12% 12 mo to Mar 2024LinkedIn · Jul 2026
11 yr2015
1postings · last posted Sep 2026

Provider of solar engineering, procurement, and construction services for power projects

Solar energy
₹1,238.13 crFY 2024-25
+15%2024–2025
719+39% 12 mo to Sep 2024LinkedIn · Jul 2026
15 yr2011
0none in 3 months · last posted Jun 2026

Power distribution company

Utilities
₹801.82 crFY 2021-22
Not reported
160+15% 12 mo to Feb 2024recorded Feb 2024
3 yr2023
0none in 3 months

Company that offers electricity supply services to consumers

Utilities
₹520.89 crFY 2024-25
+15%2024–2025
107+32% 12 mo to Feb 2024recorded Feb 2024
9 yr2017
0none in 3 months

Manufacturer of LED bulbs and electrical accessories

Energy efficiency
₹304.83 crFY 2023-24
Not reported
56-68% 12 mo to Mar 2024LinkedIn · Jul 2026
59 yr1967
—No postings tracked

Leading manufacturer of bare aluminum conductors

Electricity transmission & distribution equipment
₹270.77 crFY 2021-22
Not reported
138+0% 12 mo to Aug 2024LinkedIn · Jul 2026
55 yr1971
0none in 3 months

Provider of solar energy products and services

Solar energy
₹301.24 crFY 2024-25
-9%2024–2025
397LinkedIn · Jul 2026
28 yr1998
0none in 3 months

Manufacturer and supplier of LED lights for commercial projects

Energy efficiency
₹199.77 crFY 2021-22
Not reported
249-4% 12 mo to Sep 2024LinkedIn · Jul 2026
50 yr1976
—No postings tracked

Provider of end-to-end solar solutions, including financing and maintenance

Solar energy
₹205.82 crFY 2024-25
+634%2024–2025
122LinkedIn · Jul 2026
9 yr2017
1postings · last posted Sep 2026

Company providing power infrastructure management, engineering, and IT solutions to clients

Electricity transmission & distribution project developer
₹203.47 crFY 2024-25
+20%2024–2025
—Not available
18 yr2008
1postings · last posted Aug 2026

Manufacturer of transformer insulation boards wires and chemicals

Electricity transmission & distribution equipment
₹174.74 crFY 2024-25
+40%2024–2025
38LinkedIn · Jul 2026
25 yr2001
1postings · last posted Sep 2026

Manufacturer of electrical equipment and power & distribution transformers

Electricity transmission & distribution equipment
₹148.63 crFY 2021-22
Not reported
328+24% 12 mo to Feb 2024recorded Feb 2024
41 yr1985
—No postings tracked

Company specializes in manufacturing power, distribution, and special-application electrical transformers

Electricity transmission & distribution equipment
₹154.71 crFY 2024-25
+37%2024–2025
8+27% 12 mo to Mar 2024LinkedIn · Jul 2026
21 yr2005
0none in 3 months

Solar farms EPC

Solar energy
₹134.55 crFY 2024-25
+200%2024–2025
234LinkedIn · Jul 2026
16 yr2010
0none in 3 months

Manufacturer of switchgears

Electricity transmission & distribution equipment
₹125.73 crFY 2022-23
Not reported
216-23% 12 mo to Sep 2024LinkedIn · Jul 2026
32 yr1994
0none in 3 months

Manufacturer of solar powered products

Solar energy
₹123.78 crFY 2024-25
+35%2024–2025
17+16% 12 mo to Sep 2024LinkedIn · Jul 2026
8 yr2018
0none in 3 months

Provides end-to-end solutions for rooftop solar solutions and distributes solar modules

Solar energy
₹101.44 crFY 2024-25
-31%2024–2025
17LinkedIn · Jul 2026
8 yr2018
0none in 3 months

Renewable energy solutions provider offering design, installation, and maintenance services for solar energy systems

Solar energy
₹101.22 crFY 2024-25
+9%2024–2025
41LinkedIn · Jul 2026
9 yr2017
0none in 3 months

Developer of solar energy projects

Solar energy
₹89.66 crFY 2024-25
+519%2024–2025
22LinkedIn · Jul 2026
13 yr2013
0none in 3 months

Supplier of a range of refrigerant gases offering energy efficiency and suitable for various purposes

Oil & gas downstream
₹76.37 crFY 2021-22
Not reported
6recorded Jul 2024
6 yr2020
—No postings tracked

Manufacturer of amorphous and CRGO transformer cores

Electricity transmission & distribution equipment
₹78.31 crFY 2024-25
+33%2024–2025
4LinkedIn · Jul 2026
9 yr2017
0none in 3 months

Developer of solar and wind energy projects

Solar energy
₹75.32 crFY 2024-25
+104%2024–2025
62LinkedIn · Jul 2026
7 yr2019
0none in 3 months · last posted Jun 2026

Manufacturer of distribution boards, circuit breaker panels, and other electrical solutions

Electricity transmission & distribution equipment
₹62.18 crFY 2021-22
Not reported
—Not available
54 yr1972
—No postings tracked

Provider of electrical engineering and high voltage substation development services

Electricity transmission & distribution project developer
₹59.03 crFY 2021-22
Not reported
69+30% 12 mo to Sep 2024recorded Sep 2024
55 yr1971
—No postings tracked

Provider of professional development programs and certification services for various industries

Oilfield services
₹60.71 crFY 2024-25
+4%2024–2025
—Not available
8 yr2018
0none in 3 months
50 of 174 companies shown here · the full list is on Radar
Fliar Radar

Explore all 174 energy companies in Rajasthan on Radar

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

Open energy in Rajasthan on Radar
  • Every company, not just 50All 174 energy companies in Rajasthan, 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 Rajasthan by what you are looking for

Browse the top energy companies in Rajasthan, from solar developers and equipment makers to power utilities and oil and gas suppliers. Find energy startups in Rajasthan, listed energy companies and firms hiring now.

9 ways to explore energy in Rajasthan

Solar energy companies & installersPower transmission & electrical equipment manufacturersBattery & energy storage companiesBioenergy & biofuel companiesOil & gas companies and equipment suppliersPower utilities & electricity suppliers

Solar energy companies & installers

Solar panel makers, EPC contractors and solar project developers.

  1. Insolation Energy

    Manufacturer of solar PV module & panel

    Solar energy
    See in list
  2. Rays Power Infra

    Provider of solar engineering, procurement, and construction services for power projects

    Solar energy
    See in list
  3. Genus Innovation

    Provider of solar energy products and services

    Solar energy
    See in list
  4. Stockwell Solar Services

    Provider of end-to-end solar solutions, including financing and maintenance

    Solar energy
    See in list
  5. Whole Solar

    Manufacturer of solar powered products

    Solar energy
    See in list

Power transmission & electrical equipment manufacturers

Makers of cables, transformers, switchgear and power distribution equipment.

  1. Umang Boards

    Manufacturer of transformer insulation boards wires and chemicals

    Electricity transmission & distribution equipment
    See in list
  2. Ventrex Energy

    Manufacturer of amorphous and CRGO transformer cores

    Electricity transmission & distribution equipment
    See in list
  3. Asiatic Electrical & Switchgear

    Manufacturer of distribution boards, circuit breaker panels, and other electrical solutions

    Electricity transmission & distribution equipment
    See in list
  4. MOR Transformers

    Manufacturer of current transformers and other electrical mechanical assemblies

    Electricity transmission & distribution equipment
    See in list
  5. T Power Transformer

    Manufacturer of transformers

    Electricity transmission & distribution equipment
    See in list

Battery & energy storage companies

Battery makers and energy storage and efficiency suppliers.

  1. Veto Switchgears & Cables

    Manufacturer of LED bulbs and electrical accessories

    Energy efficiency
    See in list
  2. Genus Innovation

    Provider of solar energy products and services

    Solar energy
    See in list
  3. Pyrotech Electronics

    Manufacturer and supplier of LED lights for commercial projects

    Energy efficiency
    See in list
  4. Rudai lighting

    Rudai lighting

    Energy efficiency
    See in list
  5. Indo Powersys

    Manufacturer of online UPS & Smf battery by indo powersys

    Energy storage
    Website

Bioenergy & biofuel companies

Biomass, biogas, biodiesel and waste-to-energy producers.

  1. Enersol Biopower

    Manufacturer of biomass gasification and torrefaction systems, and smokeless stoves

    Bioenergy
    Website
  2. Ganesh Biofuel

    Biofuel company that specializes in the production of biomass pellets from mustard waste and other agricultural residues, catering to the energy needs of various industries

    Bioenergy
    Website
  3. Haritika Group

    Provider of biogas energy production services

    Bioenergy
    Website
  4. BioDiesel

    Manufacturer of biodiesel and distributor of eco-friendly biodiesel solutions

    Bioenergy
    Website
  5. Biomass Energeons India

    Provider of sustainable energy solutions

    Bioenergy
    Website

Oil & gas companies and equipment suppliers

Refining, fuel distribution and oilfield equipment businesses.

  1. Vijay Petrochem

    Supplier of a range of refrigerant gases offering energy efficiency and suitable for various purposes

    Oil & gas downstream
    See in list
  2. Dholpur Gas

    Gas distribution company

    Oil & gas midstream
    See in list
  3. COMPLETION OIL TOOLS

    Manufacturer and supplier of downhole completion and production tools for the oilfield industry

    Oil & gas equipment
    See in list
  4. Jay Gauri Projects

    Provider of construction engineering services

    Oil & gas downstream
    See in list
  5. HRRL

    Government entity focused on refinery petroleum

    Energy regulatory & industry bodies
    Website

Power utilities & electricity suppliers

Electricity distribution, transmission and power generation companies.

  1. CESC RAJASTHAN

    Power distribution company

    Utilities
    See in list
  2. TPADL

    Company that offers electricity supply services to consumers

    Utilities
    See in list
  3. Indo Powersys

    Manufacturer of online UPS & Smf battery by indo powersys

    Energy storage
    Website
  4. Jodhpur Vidyut Vitran Nigam

    Jodhpur Vidyut Vitran Nigam is responsible for generating, transmitting, and distributing electricity to the housing and industrial sectors.

    Utilities
    Website
  5. Kay Cee Energy

    Provider of power transmission services

    Utilities
    Website

Energy startups in Rajasthan

Recently founded energy startups in Rajasthan.

  1. CESC RAJASTHAN

    Power distribution company

    Utilities
    See in list
  2. Elexo

    Provider of energy storage solutions, aiming to accelerate clean energy transition through the development of battery energy storage technologies

    Energy storage
    Website
  3. Eneuf Energy

    Provider of waste-to-energy solutions using torrefaction for renewable resource creation

    Bioenergy
    Website
  4. Power Plus Energy India

    Company specializes in energy systems

    Energy storage
    Website
  5. Ovik Solar

    Provider of solar energy solutions for industrial clients

    Solar energy
    Website
22 companies in Rajasthan

Listed energy companies in Rajasthan

Publicly listed energy companies in Rajasthan.

  1. Insolation Energy

    Manufacturer of solar PV module & panel

    Solar energy
    See in list
  2. Veto Switchgears & Cables

    Manufacturer of LED bulbs and electrical accessories

    Energy efficiency
    See in list
  3. Danish Power

    Manufacturer of electrical equipment and power & distribution transformers

    Electricity transmission & distribution equipment
    See in list
  4. RMC

    Manufacturer of switchgears

    Electricity transmission & distribution equipment
    See in list
  5. Globus Power Generation

    Provider of waste management services

    Solar energy
    Website
7 companies in Rajasthan

Energy companies hiring in Rajasthan

Energy companies in Rajasthan with open roles.

  1. Insolation Energy

    Manufacturer of solar PV module & panel

    Solar energy
    See in list
  2. Rays Power Infra

    Provider of solar engineering, procurement, and construction services for power projects

    Solar energy
    See in list
  3. Stockwell Solar Services

    Provider of end-to-end solar solutions, including financing and maintenance

    Solar energy
    See in list
  4. Suncity Urja

    Company providing power infrastructure management, engineering, and IT solutions to clients

    Electricity transmission & distribution project developer
    See in list
  5. Umang Boards

    Manufacturer of transformer insulation boards wires and chemicals

    Electricity transmission & distribution equipment
    See in list
10 companies in Rajasthan
Mobile reach

Top 4 energy apps from Rajasthan

The most-installed Android apps published by energy companies headquartered in Rajasthan — 314K installs between them. 4 companies on this page publish at least one app; each company (legal entity) appears once, with its most-installed app.

1 of 4
2

TPADL Connect

by TPADL

Installs22K
Rating—
Last updatedFeb 2026
View on Google Play ↗
TPADL Connect screenshot 1TPADL Connect screenshot 2TPADL Connect screenshot 3TPADL Connect screenshot 4TPADL Connect screenshot 5TPADL Connect screenshot 6
4

Radicab Partner Connect

by Radicab

Installs13
Rating—
Last updatedJun 2026
View on Google Play ↗
Radicab Partner Connect screenshot 1Radicab Partner Connect screenshot 2Radicab Partner Connect screenshot 3Radicab Partner Connect screenshot 4Radicab Partner Connect screenshot 5Radicab Partner Connect screenshot 6
The business behind the activity

Energy financials in Rajasthan

Revenue, profit and growth from the filed annual accounts of 81 energy companies in Rajasthan for FY24-25 — 91 of the 174 companies on this page file accounts with the Ministry of Corporate Affairs. The five largest earn 92% of the revenue, so medians describe the typical company better than totals.

combined revenue, FY24-25₹52,573.78 cr

81 companies filing accounts

combined net profit−₹4,423.00 cr

-8.4% aggregate margin

are profitable81%

66 of 81 companies

median revenue~₹21.6 cr

the typical company

median revenue growth+20%

into FY24-25

earned by the top five92%

revenue concentration

Six-year view

Combined revenue of filing companies

₹34,402.97 crFY19-2071 filers
₹36,597.60 crFY20-2175 filers
₹39,966.88 crFY21-2274 filers
₹45,222.60 crFY22-2377 filers
₹50,983.55 crFY23-2477 filers
₹52,573.78 crFY24-2581 filers

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

Like-for-like

The same 74 companies over three years

+16%
FY22-23₹45,166.17 cr−₹7,978.33 cr net
FY23-24₹50,938.73 cr−₹13,117.93 cr net
FY24-25₹52,549.70 cr−₹4,422.89 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 cr1331% profitable
₹1–10 cr1776% profitable
₹10–100 cr3197% profitable
₹100–1,000 cr17100% profitable
Over ₹1,000 cr367% profitable

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

Momentum

How fast revenue moved into FY24-25

Shrinking24
0–20%14
20–50%17
50–100%9
Doubled+11

75 companies with accounts for both years; median growth +20%.

Profitability

Profit is concentrated at the top

66profitable
15loss-making
-8.4%aggregate margin
1.5%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
Diwakar SolarDIWAKAR RENEWABLE & INFRA PRIVATE LIMITED+525%₹90.50 cr
Vareyn SolarVAREYN SOLAR AND YELLOW ENERGY PRIVATE LIMITED
NDJ SolarNDJ SOLAR POWER PRIVATE LIMITED
Lume SolarLUME SOLAR ENERGY PRIVATE LIMITED
Rays Power ExpertRAYS POWER EXPERTS LIMITED+200%₹134.55 cr
Kay Cee EnergyKAY CEE ENERGY & INFRA LIMITED₹153.17 cr
Profit leaders · ₹10 cr+ revenue

Highest net margins, FY24-25

CompanyMarginRevenue
Saurya UrjaSAURYA URJA COMPANY OF RAJASTHAN LIMITED
SolfreedomSOLFREEDOM POWER LIMITED
Rays Power ExpertRAYS POWER EXPERTS LIMITED19.2%₹134.55 cr
Danish PowerDANISH POWER LIMITED13.5%₹432.53 cr
Diwakar SolarDIWAKAR RENEWABLE & INFRA PRIVATE LIMITED11.2%₹90.50 cr
Kay Cee EnergyKAY CEE ENERGY & INFRA LIMITED₹153.17 cr
Inside the industry

Sub-sectors compared, FY24-25

Sub-sectorCompaniesRevenueMedian revenueProfitableMargin
Solar energy39₹2,651.73 cr~₹16.8 cr90%7.9%
Electricity transmission & distribution equipment14₹1,901.22 cr~₹64.8 cr93%6.2%
Energy storage5₹13.83 cr~₹24 lakh40%-0.2%
Leaders

Largest energy companies by revenue, FY24-25

Company · legal entityRevenueNet resultMarginGrowth
Jodhpur Vidyut Vitran NigamJODHPUR VIDYUT VITRAN NIGAM LIMITED₹24,658.38 cr₹92.29 cr0.4%-4%
Rajasthan Rajya Vidyut Utpadan NigamRAJASTHAN RAJYA VIDYUT UTPADAN NIGAM LIMITED−₹4,648.80 cr-21.8%+6%
Rays Power InfraRAYS POWER INFRA LIMITED₹1,198.39 cr₹116.34 cr9.7%+53%
Oswal CablesOSWAL CABLES LTD₹638.90 cr₹29.77 cr4.7%+27%
TPADLTP AJMER DISTRIBUTION LIMITED₹520.89 cr₹11.39 cr2.2%+15%
Danish PowerDANISH POWER LIMITED₹432.53 cr₹58.34 cr13.5%+29%
Swastika InfraSWASTIKA INFRA LIMITED₹352.56 cr₹27.41 cr7.8%+67%
Genus InnovationGENUS INNOVATION LIMITED₹301.24 cr₹2.94 cr1.0%-9%
Vijay PetrochemVIJAY PETROCHEM PRIVATE LIMITED₹277.61 cr₹3.84 cr1.4%+123%
Pyrotech ElectronicsPYROTECH ELECTRONICS PVT. LTD.₹225.74 cr₹5.19 cr2.3%-8%
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 India

The financials above are one chapter. The full energy landscape of Rajasthan 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 Rajasthan
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 Rajasthan compares. Debt, IPO and grant rounds are excluded.

equity rounds, last 12 months18

US$781.34m

equity rounds, last 24 months69

US$1.46bn

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.

Go deeper in the energy landscape reports:

Energy Industry Landscape of India

Founders and momentum in Rajasthan

Meet the people behind energy companies in Rajasthan. 67 of 174 companies list founders or leaders; where a public LinkedIn profile matches exactly, the expanded profile shows the photo, headline, location and education.

Explore Rajasthan energy companies by sub-sector

The most common specialisations among energy companies in Rajasthan. 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