Company lists
The Vadodara edition · 2026

Energycompanies in Vadodara

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

109 company profiles54 with reported revenue4 with recorded fundingOctober 2026 edition
Vadodara · 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: 1478 Contracts · 321 M&A deals · 134 funding rounds · 17 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 · 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
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
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
ContractMaintenance

Power mech projects · client: Adani Infrastructure Management Services Ltd (AIMSL)

Power Mech Projects has secured a fresh contract worth ₹266.26 crore from Adani Infrastructure Management Services Ltd (AIMSL) for operating and maintaining a thermal power plant in…

Power
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
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
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

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 Vadodara, by revenue

Browse energy companies in Vadodara 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 54 energy companies in Vadodara, 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

Developer of electricity transmission based utility projects

Energy regulatory & industry bodies
₹4,593.91 crFY 2021-22
Not reported
1,142+0% 12 mo to Mar 2024recorded Mar 2024
27 yr1999
—No postings tracked

Manufacturer of switchgears and transformers

Electricity transmission & distribution equipment
₹2,661.28 crFY 2024-25
+20%2024–2025
88,945+6% 12 mo to Sep 2024LinkedIn · Oct 2026
15 yr2011
0none in 3 months

Manufacture oil filled power and distribution transformers

Electricity transmission & distribution equipment
₹1,705.21 crFY 2023-24
Not reported
644+4% 12 mo to Sep 2024LinkedIn · Oct 2026
59 yr1967
—No postings tracked

Manufacturer of standard & engineered cryogenic equipment

Oil & gas downstream
₹1,162.49 crFY 2023-24
Not reported
1,081+8% 12 mo to Jul 2024recorded Jul 2024
34 yr1992
—No postings tracked

Provider of renewable energy production services

Wind energy
₹791.18 crFY 2021-22
-7%2021–2022
2+0% 12 mo to Sep 2024recorded Sep 2024
6 yr2020
0none in 3 months

Provider of rooftop solar panel installation services

Solar energy
₹616.18 crFY 2024-25
Not reported
215LinkedIn · Oct 2026
41 yr1985
0none in 3 months

Manufacturers of transformers

Electricity transmission & distribution equipment
₹409.71 crFY 2023-24
Not reported
183+20% 12 mo to Jul 2024LinkedIn · Oct 2026
36 yr1990
—No postings tracked

Company specializing in providing oil and gas infrastructure services

Oilfield services
₹315.23 crFY 2024-25
+2%2024–2025
864+9% 12 mo to Sep 2024recorded Sep 2024
19 yr2007
0none in 3 months

Manufacturer of fuel for green environment

Bioenergy
₹288.85 crFY 2024-25
+6%2024–2025
152+167% 12 mo to Sep 2024recorded Sep 2024
10 yr2016
0none in 3 months

Manufacturer of transformers and substations

Electricity transmission & distribution equipment
₹272.47 crFY 2024-25
+5%2024–2025
151+26% 12 mo to Sep 2024recorded Sep 2024
17 yr2009
0none in 3 months

CNG and PNG distributor

Oil & gas downstream
₹234.84 crFY 2021-22
Not reported
23+21% 12 mo to Sep 2024recorded Sep 2024
13 yr2013
0none in 3 months

Largest Solar Panel Manufacturers in India | Future Solar

Renewable energy tech
₹263.82 crFY 2024-25
Not reported
635LinkedIn · Jul 2026
4 yr2022
0none in 3 months

Manufacturer of electrical panels

Electricity transmission & distribution equipment
₹220.52 crFY 2023-24
Not reported
361LinkedIn · Jul 2026
18 yr2008
0none in 3 months · last posted May 2026

Manufacturer of solar mounting systems

Solar energy
₹194.44 crFY 2024-25
+61%2024–2025
56LinkedIn · Jul 2026
9 yr2017
0none in 3 months

Provider of renewable energy services

Solar energy
₹192.11 crFY 2024-25
+89%2024–2025
94LinkedIn · Jul 2026
10 yr2016
0none in 3 months · last posted Jul 2026

Provider of power distribution & transmission line services

Electricity transmission & distribution equipment
₹188.99 crFY 2024-25
+187%2024–2025
81+6% 12 mo to Sep 2024LinkedIn · Oct 2026
12 yr2014
0none in 3 months

Manufacturer and marketer of lubricants with a license

Oil & gas downstream
₹185.17 crFY 2024-25
-25%2024–2025
—Not available
21 yr2005
0none in 3 months

Manufacturer of transformer bushings

Electricity transmission & distribution equipment
₹152.15 crFY 2024-25
+39%2024–2025
188LinkedIn · Oct 2026
24 yr2002
0none in 3 months

Manufacturer of mounting solar modules

Solar energy
₹114.89 crFY 2021-22
Not reported
—Not available
42 yr1984
0none in 3 months

Provider of biodiesel production solutions using non-edible oils, diverting waste from landfills and sewer systems

Bioenergy
₹119.64 crFY 2022-23
+53%2022–2023
48+4% 12 mo to Jan 2024recorded Jan 2024
12 yr2014
0none in 3 months

Developer of non-renewable energy based power projects

Non- renewable power generation
₹102.08 crFY 2021-22
Not reported
721LinkedIn · Oct 2026
31 yr1995
0none in 3 months · last posted Jun 2026

Developer of wind and solar renewable energy power projects

Wind energy
₹97.83 crFY 2024-25
+36%2024–2025
11-54% 12 mo to Jun 2024LinkedIn · Oct 2026
16 yr2010
0none in 3 months · last posted Jun 2026

Manufacturier of high voltage dry type and liquid filled transformers

Electricity transmission & distribution equipment
₹81.42 crFY 2021-22
Not reported
4-20% 12 mo to Sep 2024recorded Sep 2024
6 yr2020
—No postings tracked

Provider of electrical protection audit services and manufacturing of LV switchboards

Electricity transmission & distribution equipment
₹72.89 crFY 2021-22
Not reported
61+5% 12 mo to Sep 2024LinkedIn · Oct 2026
24 yr2002
0none in 3 months

Provider of oil production services

Oil & gas upstream
₹72.44 crFY 2021-22
Not reported
21-4% 12 mo to Sep 2024recorded Sep 2024
53 yr1973
—No postings tracked
50 of 109 companies shown here · the full list is on Radar
Fliar Radar

Explore all 109 energy companies in Vadodara on Radar

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

Open energy in Vadodara on Radar
  • Every company, not just 50All 109 energy companies in Vadodara, 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 Vadodara by what you are looking for

Browse top energy companies in Vadodara, from solar and wind developers to transformer manufacturers and oil and gas firms. Find renewable energy companies and energy startups in Vadodara that fit your need.

9 ways to explore energy in Vadodara

Solar energy companies & installersWind, bioenergy & other renewable energyTransformers & power transmission equipmentPower transmission project developers & EPCOil, gas & petroleum companiesEnergy efficiency & storage solutions

Solar energy companies & installers

Solar panel makers, rooftop installers and solar mounting suppliers.

  1. Madhav Corp

    Provider of rooftop solar panel installation services

    Solar energy
    See in list
  2. Future Solar

    Largest Solar Panel Manufacturers in India | Future Solar

    Renewable energy tech
    See in list
  3. MicroTech

    Manufacturer of solar mounting systems

    Solar energy
    See in list
  4. Sunbuy

    Provider of solar power solutions and energy storage systems. This company designs and implements solar power plants, green hydrogen solutions, and decentralized solar energy systems. They also offer waste-to-energy solutions and water conservation and recycling technologies. In addition, they provide customized solutions focused on energy savings and penetration. The company's offerings include solar pumping systems, solar lanterns, solar street lights, and solar-powered benches. They also manufacture and install solar-powered EV charging stations. A key aspect of their business is asset mana

    Solar energy
    See in list
  5. Waa Solar

    Solar power producer

    Solar energy
    See in list

Wind, bioenergy & other renewable energy

Wind energy developers, biofuel and biogas producers, and hydro or geothermal power.

  1. lnox Wind Energy

    Provider of renewable energy production services

    Wind energy
    See in list
  2. Kotyark

    Manufacturer of fuel for green environment

    Bioenergy
    See in list
  3. Yamuna Bio Energy

    Provider of biodiesel production solutions using non-edible oils, diverting waste from landfills and sewer systems

    Bioenergy
    See in list
  4. Sampann Utpadan India

    Developer of wind and solar renewable energy power projects

    Wind energy
    See in list
  5. Ankur Scientific

    Provider of waste management and biogas services

    Waste & water management
    See in list

Transformers & power transmission equipment

Manufacturers of transformers, switchgear, cables and electrical panels.

  1. Voltamp Transformers

    Manufacture oil filled power and distribution transformers

    Electricity transmission & distribution equipment
    See in list
  2. Shilchar

    Manufacturers of transformers

    Electricity transmission & distribution equipment
    See in list
  3. TMC India

    Manufacturer of transformers and substations

    Electricity transmission & distribution equipment
    See in list
  4. Akshar Group

    Manufacturer of electrical panels

    Electricity transmission & distribution equipment
    See in list
  5. Yash Highvoltage

    Manufacturer of transformer bushings

    Electricity transmission & distribution equipment
    See in list
39 companies in Vadodara

Power transmission project developers & EPC

Companies that build and maintain power transmission and distribution projects.

  1. Madhav Corp

    Provider of rooftop solar panel installation services

    Solar energy
    See in list
  2. MECpower Solutions

    Provider of renewable energy services

    Solar energy
    See in list
  3. L&T-Sargent & Lundy

    Developer of non-renewable energy based power projects

    Non- renewable power generation
    See in list
  4. Sunbuy

    Provider of solar power solutions and energy storage systems. This company designs and implements solar power plants, green hydrogen solutions, and decentralized solar energy systems. They also offer waste-to-energy solutions and water conservation and recycling technologies. In addition, they provide customized solutions focused on energy savings and penetration. The company's offerings include solar pumping systems, solar lanterns, solar street lights, and solar-powered benches. They also manufacture and install solar-powered EV charging stations. A key aspect of their business is asset mana

    Solar energy
    See in list
  5. Waa Solar

    Solar power producer

    Solar energy
    See in list

Oil, gas & petroleum companies

Refiners, gas distributors, lubricant makers and oilfield service providers.

  1. Advance Infrastructures

    Company specializing in providing oil and gas infrastructure services

    Oilfield services
    See in list
  2. Vadodara Gas

    CNG and PNG distributor

    Oil & gas downstream
    See in list
  3. Quebec Petroleum Resources

    Manufacturer and marketer of lubricants with a license

    Oil & gas downstream
    See in list
  4. Tashkent

    Provider of oil production services

    Oil & gas upstream
    See in list
  5. R A Kapoor Transporters

    Provider of safe and reliable transportation solutions for the oil and gas industry

    Oil & gas downstream services
    See in list

Energy efficiency & storage solutions

Energy saving, battery storage and energy management providers.

  1. GETCO

    Developer of electricity transmission based utility projects

    Energy regulatory & industry bodies
    See in list
  2. Nextray Technologies

    Manufacturer of industrial and residential lighting systems

    Energy efficiency
    See in list
  3. Green Wave India

    Provider of energy efficiency solutions for HVAC equipment

    Energy efficiency
    See in list
  4. Panasonic Energy India

    Manufacturer & supplier of dry cell batteries and lighting products

    Energy storage
    Website
  5. Prakrti

    Provider of environmental and sustainability consulting services

    Services for energy efficiency
    Website

Listed energy companies in Vadodara

Publicly listed energy companies.

  1. Schneider Electric Infrastructure

    Manufacturer of switchgears and transformers

    Electricity transmission & distribution equipment
    See in list
  2. Voltamp Transformers

    Manufacture oil filled power and distribution transformers

    Electricity transmission & distribution equipment
    See in list
  3. INOXCVA

    Manufacturer of standard & engineered cryogenic equipment

    Oil & gas downstream
    See in list
  4. lnox Wind Energy

    Provider of renewable energy production services

    Wind energy
    See in list
  5. Madhav Corp

    Provider of rooftop solar panel installation services

    Solar energy
    See in list
14 companies in Vadodara

Energy startups in Vadodara

Newer energy companies founded in recent years.

  1. Future Solar

    Largest Solar Panel Manufacturers in India | Future Solar

    Renewable energy tech
    See in list
  2. Ayra Power

    Manufacturer of electronic transformers

    Electricity transmission & distribution equipment
    See in list
  3. NV Subpower

    Provider of transmission & distribution EPC contracts, substation testing, measuring, and monitoring services

    Electricity transmission & distribution project developer
    See in list
  4. Renewix

    Provider of solar energy services

    Solar energy
    Website
  5. Siyavar Energy

    Developer of solar energy projects

    Solar energy
    Website
12 companies in Vadodara

Energy companies hiring in Vadodara

Companies currently hiring.

  1. Akshar Group

    Manufacturer of electrical panels

    Electricity transmission & distribution equipment
    See in list
  2. MECpower Solutions

    Provider of renewable energy services

    Solar energy
    See in list
  3. L&T-Sargent & Lundy

    Developer of non-renewable energy based power projects

    Non- renewable power generation
    See in list
  4. SACH Group

    Provider of online slot games and betting services

    Electricity transmission & distribution project developer
    See in list
  5. Switchgear and Control Technics

    Supplier of electricity

    Utilities
    See in list
7 companies in Vadodara
Mobile reach

Top 3 energy apps from Vadodara

The most-installed Android apps published by energy companies headquartered in Vadodara — 43K installs between them. 3 companies on this page publish at least one app; each company (legal entity) appears once, with its most-installed app.

1 of 3
The business behind the activity

Energy financials in Vadodara

Revenue, profit and growth from the filed annual accounts of 50 energy companies in Vadodara, Gujarat for FY24-25 — 58 of the 109 companies on this page file accounts with the Ministry of Corporate Affairs. The five largest earn 75% of the revenue, so medians describe the typical company better than totals.

combined revenue, FY24-25₹19,901.37 cr

50 companies filing accounts

combined net profit₹3,062.64 cr

15.4% aggregate margin

are profitable90%

45 of 50 companies

median revenue~₹42.3 cr

the typical company

median revenue growth+29%

into FY24-25

earned by the top five75%

revenue concentration

Six-year view

Combined revenue of filing companies

₹8,799.13 crFY19-2045 filers
₹8,872.82 crFY20-2145 filers
₹11,949.63 crFY21-2252 filers
₹13,920.44 crFY22-2350 filers
₹16,564.42 crFY23-2449 filers
₹19,901.37 crFY24-2550 filers

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

Like-for-like

The same 45 companies over three years

+47%
FY22-23₹13,476.11 cr₹1,987.53 cr net
FY23-24₹16,259.70 cr₹2,629.32 cr net
FY24-25₹19,864.25 cr₹3,061.44 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 cr450% profitable
₹1–10 cr1070% profitable
₹10–100 cr16100% profitable
₹100–1,000 cr15100% profitable
Over ₹1,000 cr5100% profitable

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

Momentum

How fast revenue moved into FY24-25

Shrinking10
0–20%10
20–50%9
50–100%9
Doubled+8

46 companies with accounts for both years; median growth +29%.

Profitability

Profit is concentrated at the top

45profitable
4loss-making
15.4%aggregate margin
5.1%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
Viviana Power TechViviana Power Tech Limited+187%₹188.99 cr
Next Gen EquipmentsNEXT GEN EQUIPMENTS PRIVATE LIMITED
Indian Oil TankingINDIANOIL ADANI VENTURES LIMITED+103%₹1,954.66 cr
MECpower SolutionsMECPOWER SOLUTIONS LIMITED+89%₹192.11 cr
Frelit energyFRELIT ENERGY PRIVATE LIMITED
ABS ProductsAIR BREAK SWITCHGEAR PRODUCTS PRIVATE LIMITED
Profit leaders · ₹10 cr+ revenue

Highest net margins, FY24-25

CompanyMarginRevenue
GreenBrillianceGREENBRILLIANCE ENERGY PRIVATE LIMITED₹10.81 cr
GETCOGUJARAT ENERGY TRANSMISSION CORPORATION LIMITED24.6%₹6,860.88 cr
ShilcharSHILCHAR TECHNOLOGIES LIMITED23.0%₹639.62 cr
Ankur ScientificANKUR SCIENTIFIC ENERGY TECHNOLOGIES PVT LTD
Tecso GlobalTECSO PROJECTS LIMITED
INOXCVAInox India Limited16.9%₹1,335.38 cr
Inside the industry

Sub-sectors compared, FY24-25

Sub-sectorCompaniesRevenueMedian revenueProfitableMargin
Electricity transmission & distribution equipment14₹6,506.55 cr~₹147.9 cr100%13.2%
Solar energy14₹1,099.82 cr~₹16.1 cr93%6.0%
Leaders

Largest energy companies by revenue, FY24-25

Company · legal entityRevenueNet resultMarginGrowth
GETCOGUJARAT ENERGY TRANSMISSION CORPORATION LIMITED₹6,860.88 cr₹1,687.00 cr24.6%+12%
Schneider Electric InfrastructureSCHNEIDER ELECTRIC INFRASTRUCTURE LIMITED₹2,661.28 cr₹267.89 cr10.1%+20%
Voltamp TransformersVOLTAMP TRANSFORMERS LIMITED₹2,018.93 cr₹325.41 cr16.1%+18%
Indian Oil TankingINDIANOIL ADANI VENTURES LIMITED₹1,954.66 cr₹118.65 cr6.1%+103%
INOXCVAInox India Limited₹1,335.38 cr₹225.08 cr16.9%+19%
ShilcharSHILCHAR TECHNOLOGIES LIMITED₹639.62 cr₹146.85 cr23.0%+56%
Vadodara GasVADODARA GAS LIMITED₹583.99 cr₹38.30 cr6.6%+18%
Madhav CorpMadhav Infra Projects Limited₹577.77 cr₹26.99 cr4.7%+59%
Akshar GroupAKSHAR ELECINFRA PRIVATE LIMITED₹321.49 cr₹21.46 cr6.7%+46%
Advance InfrastructuresADVANCE INFRASTRUCTURES PRIVATE LIMITED₹315.23 cr₹20.64 cr6.5%+2%
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 Vadodara 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 Vadodara
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 Vadodara 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, India321

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

298Acquisition
18Merger
2Takeover

Most active acquirers

  1. Adani group36
  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

Energy funding in Vadodara

4 energy companies in Vadodara have recorded equity funding, US$12.18m in total. Totals and round dates describe the historical record; they are not current valuations.

Founders and momentum in Vadodara

Meet the people behind energy companies in Vadodara. 33 of 109 companies list founders or leaders; where a public LinkedIn profile matches exactly, the expanded profile shows the photo, headline, location and education.

Explore Vadodara energy companies by sub-sector

The most common specialisations among energy companies in Vadodara. 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