Company lists
The West Bengal edition · 2026

Energycompanies in West Bengal

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

186 company profiles82 with reported revenue5 with recorded fundingOctober 2026 edition
West Bengal · 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: 1492 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 · 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
ContractTechnology

Sharika enterprises · client: Uttarakhand Power Corporation

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

Power Distribution
ContractService

BigTrunk Communications · client: 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
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
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
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
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

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

Transrail lighting · client: Na

Transrail Lighting Ltd has announced the winning of new orders worth Rs.575 crore, primarily in the power T&D segment, which includes an HVDC line contract.

Power T&D
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 West Bengal, by revenue

Browse energy companies in West Bengal 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 82 energy companies in West Bengal 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

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

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

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

Services for energy storage
₹17,350.65 crFY 2024-25
+3%2024–2025
37+1% 12 mo to Sep 2024LinkedIn · Jul 2026
10 yr2016
0none in 3 months

Manufacturer of polyethylene products

Petrochemicals
₹14,648.00 crFY 2024-25
-13670%2024–2025
1,868+10% 12 mo to Jul 2024LinkedIn · Jul 2026
41 yr1985
0none in 3 months

Manufacturers of lead & lead based products for the battery industry

Energy storage
₹5,770.99 crFY 2024-25
+16%2024–2025
288-4% 12 mo to Sep 2024recorded Sep 2024
24 yr2002
0none in 3 months

Manufacturer of solar photovoltaic modules and renewable energy solutions

Solar energy
₹3,459.53 crFY 2024-25
+37%2024–2025
2,092+13% 12 mo to Jul 2024LinkedIn · Jul 2026
21 yr2005
2postings · last posted Sep 2026

Developer of electricity transmission projects

Electricity transmission & distribution project developer
₹3,290.64 crFY 2023-24
Not reported
3,083+30% 12 mo to Jul 2024recorded Jul 2024
45 yr1981
—No postings tracked

R&D focused on manufacturing of automobile, industrial oils and greases

Materials equipment manufacturers
₹1,953.14 crFY 2023-24
Not reported
450-1% 12 mo to Oct 2023recorded Oct 2023
98 yr1928
—No postings tracked

Wind power generation and EPC services in wind sector

Wind energy
₹1,638.49 crFY 2023-24
Not reported
1-4% 12 mo to Mar 2023LinkedIn · Jul 2026
63 yr1963
—No postings tracked

Manufacturer & exporter of cable and conductors

Electricity transmission & distribution equipment
₹1,333.32 crFY 2022-23
Not reported
323+47% 12 mo to Sep 2024recorded Sep 2024
38 yr1988
2postings · last posted Aug 2026

Manufacturer, supplier & exporter of batteries and Lighting products

Energy storage
₹1,317.17 crFY 2023-24
Not reported
1,973-10% 12 mo to Aug 2024LinkedIn · Jul 2026
121 yr1905
0none in 3 months

Power generation company engaged in thermal energy production

Electricity transmission & distribution project developer
₹933.15 crFY 2024-25
+2%2024–2025
107LinkedIn · Jul 2026
18 yr2008
0none in 3 months

Provider of EPC and O&M solutions provider for grid-connected solar power plants

Wind energy
₹827.46 crFY 2023-24
+28%2023–2024
25LinkedIn · Jul 2026
14 yr2012
0none in 3 months

Developer of electricity transmission based utility projects

Electricity transmission & distribution project developer
₹617.74 crFY 2021-22
Not reported
501+22% 12 mo to Jul 2024recorded Jul 2024
37 yr1989
—No postings tracked

Developer of electricity transmission based projects

Electricity transmission & distribution project developer
₹679.05 crFY 2023-24
Not reported
471recorded Sep 2024
107 yr1919
0none in 3 months · last posted Apr 2025

Manufacturer of wires and cables for transmission and distribution of electricity

Electricity transmission & distribution equipment
₹578.97 crFY 2024-25
+51%2024–2025
231+15% 12 mo to May 2024LinkedIn · Jul 2026
17 yr2009
0none in 3 months

Manufactures solar cells and solar modules

Solar energy
₹577.43 crFY 2024-25
+2053%2024–2025
357+76% 12 mo to Sep 2024recorded Sep 2024
32 yr1994
0none in 3 months

Manufacturer and provider of solar modules

Solar energy
₹523.77 crFY 2024-25
+58%2024–2025
—Not available
18 yr2008
1postings · last posted Sep 2026

Company specializing in state-of-the-art sourcing and manufacturing

Bioenergy
₹495.21 crFY 2024-25
-12%2024–2025
28LinkedIn · Jul 2026
5 yr2021
0none in 3 months

Manufacturer of solar powered products

Solar energy
₹466.42 crFY 2024-25
+34%2024–2025
312LinkedIn · Jul 2026
38 yr1988
0none in 3 months · last posted Jun 2026

Manufacturer of ethanol, DDGS, and CO2 from grain-based distillation

Bioenergy
₹460.08 crFY 2024-25
+323%2024–2025
—Not available
4 yr2022
0none in 3 months

Manufacturer of photovoltaic poly-crystalline solar cells

Solar energy
₹430.86 crFY 2022-23
Not reported
561+8% 12 mo to Jul 2024LinkedIn · Jul 2026
27 yr1999
0none in 3 months · last posted Jun 2026

Manufacturer of electrical wires, cables, and conductors

Electricity transmission & distribution equipment
₹250.70 crFY 2024-25
+149%2024–2025
—Not available
11 yr2015
0none in 3 months

Provider of electricity power finance services

Electricity transmission & distribution financing
₹213.61 crFY 2021-22
Not reported
9+0% 12 mo to Sep 2024recorded Sep 2024
15 yr2011
—No postings tracked

Provider of electricity and railway engineering project management services

Electricity transmission & distribution project developer
₹185.61 crFY 2021-22
Not reported
—Not available
40 yr1986
—No postings tracked
50 of 186 companies shown here · the full list is on Radar
Fliar Radar

Explore all 186 energy companies in West Bengal on Radar

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

Open energy in West Bengal on Radar
  • Every company, not just 50All 186 energy companies in West Bengal, 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 West Bengal by what you are looking for

Browse top energy companies in West Bengal, from solar energy companies to power equipment makers and oil and gas suppliers. Find renewable energy companies, battery makers and listed energy companies in West Bengal.

9 ways to explore energy in West Bengal

Solar energy companies & module manufacturersWind, hydro & bioenergy companiesPower transmission & distribution equipment makersPower project developers & utilitiesOil, gas & petroleum companiesBattery & energy storage companies

Solar energy companies & module manufacturers

Manufacturers and developers of solar cells, modules and solar projects.

  1. Vikram Solar

    Manufacturer of solar photovoltaic modules and renewable energy solutions

    Solar energy
    See in list
  2. LNB Renewable

    Provider of EPC and O&M solutions provider for grid-connected solar power plants

    Wind energy
    See in list
  3. Websol Energy System

    Manufactures solar cells and solar modules

    Solar energy
    See in list
  4. AVO

    Manufacturer of solar powered products

    Solar energy
    See in list
  5. Jupiter

    Manufacturer of photovoltaic poly-crystalline solar cells

    Solar energy
    See in list

Wind, hydro & bioenergy companies

Renewable energy companies working on wind, hydro power, biofuels and green energy.

  1. Techno Electric & Engineering

    Wind power generation and EPC services in wind sector

    Wind energy
    See in list
  2. LNB Renewable

    Provider of EPC and O&M solutions provider for grid-connected solar power plants

    Wind energy
    See in list
  3. Sterling Distillers

    Manufacturer of ethanol, DDGS, and CO2 from grain-based distillation

    Bioenergy
    See in list
  4. Gati Infrastructure Group

    Hydro power generation

    Hydro power
    See in list
  5. EDCL

    Developer of hydropower and wind power projects, provider of related consultancy services

    Hydro power
    See in list

Power transmission & distribution equipment makers

Makers of cables, transformers and electrical equipment for power grids.

  1. Laser Power Infra

    Manufacturer & exporter of cable and conductors

    Electricity transmission & distribution equipment
    See in list
  2. JD Cables

    Manufacturer of electrical wires, cables, and conductors

    Electricity transmission & distribution equipment
    See in list
  3. Hightension Electrical Equipments

    Manufacturer & distributor ok electrical equipment, hardware, and other products

    Electricity transmission & distribution equipment
    See in list
  4. Marsons

    Manufacturer & distributor of power transformers

    Electricity transmission & distribution equipment
    Website
  5. Biogenick

    Industrial grade Electric Cable manufacturer

    Electricity transmission & distribution equipment
    Website
41 companies in West Bengal

Power project developers & utilities

Developers of power projects, independent power producers and utilities.

  1. WBSEDCL

    Government entity focused on distribution of electricity

    Government entities
    See in list
  2. Skipper

    Developer of electricity transmission projects

    Electricity transmission & distribution project developer
    See in list
  3. Hiranmaye Energy

    Power generation company engaged in thermal energy production

    Electricity transmission & distribution project developer
    See in list
  4. LNB Renewable

    Provider of EPC and O&M solutions provider for grid-connected solar power plants

    Wind energy
    See in list
  5. Avco Energy

    Developer of solar energy projects

    Solar energy
    See in list
46 companies in West BengalAll 89 utilities companies in India →

Oil, gas & petroleum companies

Refiners, fuel and LPG suppliers, lubricant makers and oilfield service providers.

  1. Haldia Petrochemicals

    Manufacturer of polyethylene products

    Petrochemicals
    See in list
  2. Tide Water Oil

    R&D focused on manufacturing of automobile, industrial oils and greases

    Materials equipment manufacturers
    See in list
  3. Eastern Gases

    LPG, propane, and butane supplier

    Oil & gas downstream
    Website
  4. Assam Company

    Oil & gas exploration and tea plantation company

    Oil & gas upstream
    Website
  5. DHP India

    Manufacturer of gas fitting equipment

    Oil & gas equipment
    See in list

Battery & energy storage companies

Manufacturers of batteries, power backup and energy storage systems.

  1. Exide

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

    Services for energy storage
    See in list
  2. Chloride Metals

    Manufacturers of lead & lead based products for the battery industry

    Energy storage
    See in list
  3. Eveready

    Manufacturer, supplier & exporter of batteries and Lighting products

    Energy storage
    See in list
  4. Zillion Power

    Provider of power backup solution

    Energy storage
    See in list
  5. OTPL Group

    Provider of lithium ion battery services

    Services for energy storage
    Website

Energy efficiency & LED lighting companies

Providers of energy efficient lighting, cooling and energy management services.

  1. Simoco

    Provider of LED products

    Energy efficiency
    See in list
  2. Signotron

    Manufacturer of power electronics and embedded systems for industrial applications. This company designs and manufactures products for various sectors, including railway, e-mobility, and industrial control systems. Their offerings encompass passenger information systems, telemetry systems for trains, alternators, and harmonic filters. The focus is on developing efficient and reliable solutions for demanding environments. A key area of expertise is renewable energy-oriented products.

    Electronic components
    See in list
  3. E-Cube

    Integrated technical services provider specializing in power quality, energy management, and power distribution solutions

    Services for energy efficiency
    Website
  4. Johnson Controls - Hitachi Air Conditioning Company

    Air Conditioning Systems | Hitachi Cooling & Heating

    Energy efficiency
    Website
  5. Bentec India

    Manufacturer of switch fuse units, with a focus on eminence products and technology

    Services for energy efficiency
    Website

Energy startups in West Bengal

Recently founded energy startups in West Bengal.

  1. Mahalaxmi Ennore

    Company specializing in state-of-the-art sourcing and manufacturing

    Bioenergy
    See in list
  2. Sterling Distillers

    Manufacturer of ethanol, DDGS, and CO2 from grain-based distillation

    Bioenergy
    See in list
  3. Samvik Power

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

    Solar energy
    See in list
  4. Ratna Biofuel Industry

    Provider of clean energy biofuels and waste management services for the cooking oil industry

    Bioenergy
    Website
  5. Magellanium

    Manufacturer of biodiesel plant

    Bioenergy
    Website
19 companies in West Bengal

Energy companies hiring in West Bengal

Companies with open jobs in West Bengal.

  1. Vikram Solar

    Manufacturer of solar photovoltaic modules and renewable energy solutions

    Solar energy
    See in list
  2. Laser Power Infra

    Manufacturer & exporter of cable and conductors

    Electricity transmission & distribution equipment
    See in list
  3. India Power Corporation

    Developer of electricity transmission based projects

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

    Manufacturer of solar powered products

    Solar energy
    See in list
  5. Jupiter

    Manufacturer of photovoltaic poly-crystalline solar cells

    Solar energy
    See in list
9 companies in West Bengal
Mobile reach

Top 4 energy apps from West Bengal

The most-installed Android apps published by energy companies headquartered in West Bengal — 3.9M 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
1

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
2

Exide HUB

by Exide

Installs85K
Rating—
Last updatedJun 2026
View on Google Play ↗
Exide HUB screenshot 1Exide HUB screenshot 2Exide HUB screenshot 3Exide HUB screenshot 4Exide HUB screenshot 5Exide HUB screenshot 6
4

IPPL

by Indpet

Installs935
Rating—
Last updatedJan 2026
View on Google Play ↗
IPPL screenshot 1IPPL screenshot 2IPPL screenshot 3IPPL screenshot 4IPPL screenshot 5IPPL screenshot 6
The business behind the activity

Energy financials in West Bengal

Revenue, profit and growth from the filed annual accounts of 70 energy companies in West Bengal for FY24-25 — 82 of the 186 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₹78,136.32 cr

70 companies filing accounts

combined net profit₹18,387.06 cr

23.5% aggregate margin

are profitable77%

54 of 70 companies

median revenue~₹37.8 cr

the typical company

median revenue growth+16%

into FY24-25

earned by the top five75%

revenue concentration

Six-year view

Combined revenue of filing companies

₹45,000.88 crFY19-2061 filers
₹40,953.86 crFY20-2162 filers
₹53,690.16 crFY21-2270 filers
₹65,937.72 crFY22-2369 filers
₹69,286.21 crFY23-2470 filers
₹78,136.32 crFY24-2570 filers

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

Like-for-like

The same 62 companies over three years

+19%
FY22-23₹65,490.98 cr₹15,484.17 cr net
FY23-24₹68,691.59 cr₹16,062.44 cr net
FY24-25₹77,627.25 cr₹18,366.30 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 cr1155% profitable
₹1–10 cr1267% profitable
₹10–100 cr1984% profitable
₹100–1,000 cr1889% profitable
Over ₹1,000 cr1080% profitable

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

Momentum

How fast revenue moved into FY24-25

Shrinking16
0–20%18
20–50%15
50–100%5
Doubled+11

65 companies with accounts for both years; median growth +16%.

Profitability

Profit is concentrated at the top

54profitable
16loss-making
23.5%aggregate margin
3.2%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
Samvik PowerSAMVIK POWER PRIVATE LIMITED
VSL RE PowerVSL RE POWER PRIVATE LIMITED
JD CablesJD CABLES LIMITED+149%₹250.70 cr
Nimbus SolarNIMBUS IRRIGATION PVT. LTD.+130%₹20.63 cr
DHP IndiaDHP INDIA LIMITED
Anvil CablesANVIL ENERGY PRIVATE LIMITED+51%₹578.82 cr
Profit leaders · ₹10 cr+ revenue

Highest net margins, FY24-25

CompanyMarginRevenue
Coal IndiaCOAL INDIA LTD GOVT OF INDIA UNDERTAKING93.4%₹18,221.46 cr
DHP IndiaDHP INDIA LIMITED
Websol Energy SystemWEBSOL ENERGY SYSTEM LIMITED26.8%₹577.43 cr
MarsonsMARSONS LIMITED16.3%
Hi-TechHI-TECH SYSTEMS & SERVICES LTD.
AVOSWITCHING AVO ELECTRO POWER LIMITED9.5%₹430.43 cr
Inside the industry

Sub-sectors compared, FY24-25

Sub-sectorCompaniesRevenueMedian revenueProfitableMargin
Electricity transmission & distribution project developer6₹7,053.40 cr~₹198.5 cr83%4.5%
Solar energy23₹4,971.32 cr~₹12.9 cr83%6.3%
Electricity transmission & distribution equipment12₹4,057.57 cr~₹149.9 cr92%5.4%
Bioenergy6₹980.14 cr~₹10.1 cr83%3.1%
Leaders

Largest energy companies by revenue, FY24-25

Company · legal entityRevenueNet resultMarginGrowth
Coal IndiaCOAL INDIA LTD GOVT OF INDIA UNDERTAKING₹18,221.46 cr₹17,016.56 cr93.4%+8%
ExideEXIDE INDUSTRIES LIMITED₹16,684.27 cr₹1,076.93 cr6.5%+4%
Haldia PetrochemicalsHALDIA PETROCHEMICALS LIMITED₹13,557.50 cr−₹688.60 cr-5.1%+8%
Chloride MetalsCHLORIDE METALS LIMITED₹5,770.99 cr−₹73.57 cr-1.3%+16%
SkipperSKIPPER LIMITED₹4,644.00 cr₹145.83 cr3.1%+41%
Budge Budge RefineriesBUDGE BUDGE REFINERIES LTD₹4,320.18 cr+6%
Vikram SolarVikram Solar Limited₹3,451.67 cr₹139.10 cr4.0%+41%
Laser Power InfraLASER POWER & INFRA LIMITED₹2,460.33 cr₹100.53 cr4.1%+51%
LuminoLUMINO INDUSTRIES LIMITED₹1,946.68 cr₹125.13 cr6.4%+37%
EvereadyEVEREADY INDUSTRIES INDIA LTD₹1,345.39 cr₹82.38 cr6.1%+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 West Bengal 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 West Bengal
For investors and data teams

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The figures on this page come from Fliar’s company, funding and MCA filings data. Use it through the Investor Intelligence API and MCA financials feeds, or explore every company, filing and investor in Radar.

Capital & corporate activity

Energy funding and M&A across India

545 recorded equity rounds have gone to 6,577 energy companies in India — how much, at which stage, into which sub-sectors, from whom, and how West Bengal 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

Energy funding in West Bengal

5 energy companies in West Bengal have recorded equity funding, US$97.63m in total. Totals and round dates describe the historical record; they are not current valuations.

Founders and momentum in West Bengal

Meet the people behind energy companies in West Bengal. 62 of 186 companies list founders or leaders; where a public LinkedIn profile matches exactly, the expanded profile shows the photo, headline, location and education.

Explore West Bengal energy companies by sub-sector

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

Keep exploring energy in India and nearby markets.

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