Company lists
The Maharashtra edition · 2026

Energy techcompanies in Maharashtra

Renewable energy, energy storage, energy efficiency, electric vehicles, smart grid & IoT and more: the companies building energy tech in Maharashtra, with their founders, funding, team size and business models.

566 company profiles282 with reported revenue87 with recorded fundingSeptember 2026 edition
Maharashtra · Photo: Wikimedia Commons (Creative Commons Attribution-ShareAlike 4.0)

Recent energy tech business events in Maharashtra

Funding, M&A, contract wins and launches involving 709 energy tech companies in Maharashtra, last 24 months: 35 Contracts · 26 M&A deals · 26 funding rounds · 7 launches. Newest first; companies and investors link to their Fliar profiles. Latest event in our news feed: May 2026.

M&AAcquisition · Announced

Kpit technologies acquires Cymotive

KPIT Technologies ... announced that it has entered into an agreement to acquire a majority stake (subject to achievement of specific milestones) in Cymotive, a leading automotive…

Automotive cybersecurity
M&AAcquisition · Announced

Kpit technologies acquires Maj Jorites Tech

KPIT Technologies announced on Wednesday that it is acquiring Maj Jorites Tech from Israeli firm Symotive to strengthen its capabilities in AI-based automotive cybersecurity.

AI-based automotive cybersecurity
ContractService

Sterling and wilson renewable energy · client: Coal india

The company said it has been declared the L1 bidder for a turnkey EPC package from Coal India for the development of an 875 MW (AC) grid-connected solar PV project in Bikaner, Rajasthan.…

Renewable Energy
FundingParent company guarantee

Sterling and wilson renewable energy

Sterling and Wilson Renewable Energy Limited has issued a USD 34 million parent company guarantee in favour of Nedbank Limited to secure an additional working capital facility for…

Investors Nedbank
Solar power
ContractSupply

Citroën · client: Cab-e

Citroën has signed a Memorandum of Understanding (MoU) with urban e-mobility firm Cab-E, to introduce over 2000 Citroën ë-C3 EVs in Cab-E’s fleet in the Mumbai and Pune region, this year.

LaunchKinetic DX

Kinetic group

The launch of the Kinetic DX in the two‑wheeler EV segment is the most visible marker of this shift.

Two‑wheeler EV
ContractGovernment

SCharge · client: Technology Development Board

the government body entered an agreement with Scharge Private Limited to develop a next‑generation electric vehicle charging solution for commercial fleet and depot operations under the…

Industrial sustainability, EV charging infrastructure
Funding

Ecofy

Ecofy, an NBFC focused on financing climate change solutions, raised Rs 380.5 crore ($41 million approx,) from BII and DAIF.

Investors Bii, DAIF
FinTech
Funding

Living things

Spadel has invested in UK beverage company Living Things through its venture capital arm, The Source Ventures, as part of a new funding round aimed at accelerating growth.

Investors Spadel
ContractSupply

Varroc · client: Na

Varroc, a global Tier-1 automotive supplier, has secured a new business order from a leading international electric vehicle (EV) OEM to supply AC bi-directional wall chargers.

Automotive Electronics
ContractSupply

Varroc engineering · client: major global electric vehicle (EV) manufacturer

Indian auto component giant Varroc Engineering has secured a significant new contract to supply AC bi-directional wall chargers to a major global electric vehicle (EV) manufacturer,…

Electric Mobility
LaunchACTIVE technology petrol

Jio-bp

Goa, India, January 29, 2026: Hon’ble Minister of Petroleum and Natural Gas, Shri Hardeep Singh Puri today launched the path-breaking ACTIVE technology petrol at Jio-bp (the operating…

Petrol
FundingPre-Series B

Neuron energy

India’s EV battery startup Neuron Energy has secured ₹31 crore in a Pre-Series B funding round — a move many see as a big vote of confidence in domestic battery manufacturing.

Investors Equanimity Ventures, Rajiv Dadlani Group, Thackersay Family Office, Chona Family Office
EV battery manufacturing
FundingPre-Series B

Neuron energy

Neuron Energy, a leading EV battery manufacturer, has raised ₹31 crore in its Pre-Series B funding round

Investors Equanimity Ventures, Rajiv Dadlani Group, Thackersay Family Office, Chona Family Office
EV battery manufacturing
FundingDebt and equity

Magenta mobility

This comes less than a year after Magenta raised around ₹100 crore in debt and equity in March.

Electric mobility
FundingStrategic investment

Promethean energy

Mondelez India has announced a strategic investment in Promethean Energy, an Indian company developing technology to reduce carbon emissions from industrial heat processes.

Investors Sustainable futures
Clean Energy
LaunchHeavy-duty electric truck

Blue energy motors

Blue Energy Motors has unveiled a game‑changer in freight mobility: a heavy‑duty electric truck equipped with rapid battery‑swapping technology

Electric truck
Funding

Greencell mobility

In September, the International Finance Corporation (IFC) announced $137 million in financing for electric bus makers JBM ECOLIFE (a JBM Auto subsidiary) and GreenCell Mobility

Electric bus
FundingUndisclosed

Blue energy motors

Blue Energy Motors, a player in the electric truck space, raised $30 million from investors including Zerodha’s Nikhil Kamath.

Investors Zerodha’s Nikhil Kamath
Electric truck / EV
M&AAcquisition · Announced

Waaree energies acquires Racemosa Energy (India) Private Limited

The acquisition, valued at approximately ₹53 crore through cash consideration, will make Racemosa Energy a step-down subsidiary of Waaree Energies once closing conditions are fulfilled.

Smart meter manufacturing
M&AAcquisition · Announced

ChargeZone acquires Zerovolt

ChargeZone, India's largest charge point operator, has acquired Zerovolt's Wadala charging facility in Mumbai in an all-cash deal.

FundingLoan

Epsilon advanced materials

Epsilon Advanced Materials Inc (EAM), the battery materials arm of Epsilon Group, has received a non-binding Letter of Interest (LOI) from the Export-Import Bank of the United States…

Investors Export-Import Bank of the United States (EXIM)
Battery materials
ContractSupply

Adani Total · client: Jio-bp

Adani Total Gas Ltd. (ATGL) and Jio-bp (operating brand of Reliance BP Mobility Ltd) on Wednesday announced the signing of an agreement under which the two entities will begin offering…

Fuel
LaunchWBMS-SWLT

Webber electrocorp

The WBMS-SWLT, an intelligent battery management system created by Webber Electrocorp, is intended to maximize performance in lithium-ion battery packs.

Battery Management System
LaunchWebber Care Point

Webber electrocorp

Electric Vehicle Technical Company Webber Electrocorp has launched a new service network called ‘Webber Care Point’ to address the lack of After-Sales support in India’s EV market.

Service network
FundingPre-Series A

Promethean energy

With the help of Transition VC, Sangam Venture, Sagana Capital, and Fondation Botnar, Promethean Energy, a cleantech startup that aims to decarbonize industrial heating, has raised $2…

Investors Transition Vc, Sangam Venture, Sagana Capital, Fondation botnar
Cleantech
ContractSupply

Montra electric · client: Magenta mobility

Montra Electric will supply 100 units of its recently launched EVIATOR E350L electric small commercial vehicles to Magenta Mobility.

Electric vehicle supply
ContractSupply

Tivolt Electric Private Limited · client: Magenta mobility

Montra Electric’s Small Commercial Vehicle (SCV) division, Tivolt Electric Vehicles, will supply 100 units of its newly launched Eviator E350L electric vehicles to Magenta Mobility.

Logistics
M&AAcquisition · Announced

Remsons industries acquires Astro Motors

Remsons Industries has announced that it has purchased a majority stake in Astro Motors

Electric three-wheeler manufacturer

Energy tech companies in Maharashtra, by revenue

Browse energy tech companies in Maharashtra 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 282 energy tech companies in Maharashtra 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

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

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

Manufacturer of electric cars

Electric vehicles
₹15,247.00 crFY 2024-25
+47%2024–2025
1,169LinkedIn · Jul 2026
5 yr2021
0none in 3 months

Manufacturer of automotive components

Auto components
₹8,171.77 crFY 2024-25
+8%2024–2025
350recorded
38 yr1988
7postings · last posted Sep 2026

Autonomous driving solutions for vehicles

Electric vehicles
₹6,009.67 crFY 2024-25
+22%2024–2025
16,870+13% 12 mo to Sep 2024LinkedIn · Jul 2026
36 yr1990
3postings · last posted Aug 2026

Developer of energy storage systems

Solar energy
₹2,125.87 crFY 2022-23
Not reported
1,817-11% 12 mo to Apr 2024LinkedIn · Jul 2026
99 yr1927
0none in 3 months

Developer of automated irrigation systems leveraging AI and IoT

Crop tech
₹1,159.53 crFY 2024-25
+150%2024–2025
558+44% 12 mo to Jun 2024LinkedIn · Jul 2026
16 yr2010
3postings · last posted Sep 2026

Manufacturer of high-efficiency solar cells and modules for utility, commercial, and residential applications

Smart grid
₹933.09 crFY 2024-25
+2986%2024–2025
981LinkedIn · Jul 2026
15 yr2011
1postings · last posted Jul 2026

Developer of lithium-ion battery packs for multi-cateory electric vehicles

Energy storage tech
₹489.83 crFY 2024-25
-20%2024–2025
40+3900% 12 mo to Jun 2023recorded Jun 2023
44 yr1982
0none in 3 months

Solar financing, equipment procurement, and performance monitoring solutions

Renewable energy tech
₹279.47 crFY 2024-25
+58%2024–2025
182+34% 12 mo to Aug 2024LinkedIn · Jul 2026
8 yr2018
4postings · last posted Sep 2026

Manufacturer of electric scooters and multi-utility electric vehicles for transportation

Electric vehicles
₹267.30 crFY 2024-25
+19%2024–2025
1LinkedIn · Jul 2026
10 yr2016
0none in 3 months

Manufacturer of electric vehicle powertrains, battery systems, and energy storage

Auto components
₹258.04 crFY 2024-25
-28%2024–2025
288+22% 12 mo to Aug 2024LinkedIn · Jul 2026
9 yr2017
0none in 3 months · last posted Apr 2026

Manufacturer of electric buses trucks and small commercial transport vehicles

Electric vehicles
₹242.22 crFY 2024-25
+335%2024–2025
1,048+83% 12 mo to Sep 2024LinkedIn · Jul 2026
7 yr2019
0none in 3 months

Manufacturer of electric scooters designed for urban and developing environments

Electric vehicles
₹238.88 crFY 2024-25
+34%2024–2025
499+16% 12 mo to Jul 2024LinkedIn · Jul 2026
6 yr2020
0none in 3 months · last posted Jun 2026

Manufacturer of electric scooters, three-wheelers, and golf carts for transportation

Electric vehicles
₹220.32 crFY 2024-25
-25%2024–2025
1+17% 12 mo to Aug 2024LinkedIn · Jul 2026
16 yr2010
0none in 3 months

Provider of energy and power management solutions for data centers

Facility management tech
₹162.42 crFY 2024-25
+9%2024–2025
41LinkedIn · Jul 2026
30 yr1996
0none in 3 months

Platform offering heavy duty trucks

Electric vehicles
₹141.87 crFY 2024-25
Not reported
159+26% 12 mo to Mar 2024LinkedIn · Jul 2026
6 yr2020
0none in 3 months

Online platform offering doorstep delivery of liquid, gas, and electric fuels to various consumers

Oil & gas tech
₹135.60 crFY 2024-25
+74%2024–2025
309-95% 12 mo to Jul 2024LinkedIn · Jul 2026
9 yr2017
0none in 3 months

Producer and supplier of fossil and biofuels

Renewable energy tech
₹118.72 crFY 2024-25
+42%2024–2025
34-44% 12 mo to Sep 2024LinkedIn · Jul 2026
10 yr2016
0none in 3 months

Electric vehicle company offering a range of premium e-bikes and accessories

Electric vehicles
₹118.50 crFY 2024-25
-8%2024–2025
276-18% vs previous recordLinkedIn · Jul 2026
6 yr2020
4postings · last posted Sep 2026

Manufacturer of automotive vehicles, components, and customized logistics supply chain solutions

Electric vehicles
₹117.75 crFY 2024-25
+13547%2024–2025
52LinkedIn · Jul 2026
3 yr2023
0none in 3 months

Provider of technology-based energy-saving lighting products

Energy efficiency tech
₹107.13 crFY 2022-23
Not reported
187+11% 12 mo to Sep 2024recorded Sep 2024
57 yr1969
—No postings tracked

Developer of electric scooters

Electric vehicles
₹111.93 crFY 2024-25
-35%2024–2025
228+98% vs previous recordrecorded
26 yr2000
0none in 3 months

Manufacturer of industrial boilers, sugar plants, and distilleries

Energy efficiency tech
₹110.08 crFY 2024-25
+20%2024–2025
28+0% 12 mo to Sep 2024LinkedIn · Jul 2026
11 yr2015
0none in 3 months

Manufacturer of batteries

Energy storage tech
₹108.00 crFY 2024-25
+156%2024–2025
—Not available
16 yr2010
0none in 3 months

Financial solutions for the electric vehicle, solar, and SME sectors

Alternative lending
₹106.91 crFY 2024-25
+206%2024–2025
422+75% 12 mo to Sep 2024LinkedIn · Jul 2026
4 yr2022
0none in 3 months
50 of 566 companies shown here · the full list is on Radar
Fliar Radar

Explore all 566 energy tech companies in Maharashtra on Radar

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

Open energy tech in Maharashtra on Radar
  • Every company, not just 50All 566 energy tech companies in Maharashtra, 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 tech companies in Maharashtra by what you are looking for

Browse energy tech companies in Maharashtra, from renewable energy technology and energy storage to energy efficiency solutions. You can also find top energy tech companies, energy tech startups and listed energy technology companies in Maharashtra.

9 ways to explore energy tech in Maharashtra

Renewable energy technology companiesEnergy storage & battery companiesEnergy efficiency & energy management companiesElectric vehicle & EV charging companiesSmart grid, smart meter & IoT energy companiesOil, gas & fuel technology companies

Renewable energy technology companies

Solar, wind, hydrogen and bioenergy technology providers.

  1. Sterling and Wilson

    Developer of energy storage systems

    Solar energy
    See in list
  2. Avaada Electro

    Manufacturer of high-efficiency solar cells and modules for utility, commercial, and residential applications

    Smart grid
    See in list
  3. Aerem

    Solar financing, equipment procurement, and performance monitoring solutions

    Renewable energy tech
    See in list
  4. Biofuels Junction

    Producer and supplier of fossil and biofuels

    Renewable energy tech
    See in list
  5. Ecofy

    Financial solutions for the electric vehicle, solar, and SME sectors

    Alternative lending
    See in list

Energy storage & battery companies

Makers of batteries, lithium-ion packs and energy storage systems.

  1. Jio-bp

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

    Oil & gas downstream
    See in list
  2. Sterling and Wilson

    Developer of energy storage systems

    Solar energy
    See in list
  3. Battrixx

    Developer of lithium-ion battery packs for multi-cateory electric vehicles

    Energy storage tech
    See in list
  4. Blue Energy Motors

    Platform offering heavy duty trucks

    Electric vehicles
    See in list
  5. Rocket Batteries

    Manufacturer of batteries

    Energy storage tech
    See in list

Energy efficiency & energy management companies

Providers of energy management systems, smart lighting and building energy solutions.

  1. OnLine Netsys

    Provider of energy and power management solutions for data centers

    Facility management tech
    See in list
  2. eSmart Energy solutions

    Provider of technology-based energy-saving lighting products

    Energy efficiency tech
    See in list
  3. Aryan Boiler

    Manufacturer of industrial boilers, sugar plants, and distilleries

    Energy efficiency tech
    See in list
  4. Sudarshan Saur

    Manufacturer of solar water heaters

    Facility management tech
    See in list
  5. Signet EnerTech

    Provider of environmental and energy conservation solutions

    Energy efficiency tech
    See in list

Electric vehicle & EV charging companies

Electric vehicle makers, charging networks and mobility platforms.

  1. Tata Passenger Electric Mobility

    Manufacturer of electric cars

    Electric vehicles
    See in list
  2. Battrixx

    Developer of lithium-ion battery packs for multi-cateory electric vehicles

    Energy storage tech
    See in list
  3. Jitendra New EV Tech

    Manufacturer of electric scooters and multi-utility electric vehicles for transportation

    Electric vehicles
    See in list
  4. Electra EV

    Manufacturer of electric vehicle powertrains, battery systems, and energy storage

    Auto components
    See in list
  5. EKA

    Manufacturer of electric buses trucks and small commercial transport vehicles

    Electric vehicles
    See in list

Smart grid, smart meter & IoT energy companies

Smart meters, grid monitoring and IoT-based energy solutions.

  1. DVG Engineers

    Provider of energy meters, metering software, and complete open access solutions

    Smart grid
    Website
  2. Gemstar Infra India

    Provider of smart electric meters and deployment services

    Smart grid
    Website
  3. Leap Info Systems

    Analytics solutions for industrial assets

    Energy efficiency tech
    Website
  4. BuildINT

    Energy management solution provider for commercial buildings

    Energy efficiency tech
    Website
  5. Racemosa India

    Manufacturer and supplier of static energy meters and IoT devices

    Smart grid
    Website

Oil, gas & fuel technology companies

Fuel delivery, oilfield services and oil filtration providers.

  1. Repos

    Online platform offering doorstep delivery of liquid, gas, and electric fuels to various consumers

    Oil & gas tech
    See in list
  2. Josh Fuels

    Doorstep delivery of fuel

    Oil & gas tech
    See in list
  3. ASAP Fluids

    Provider of drilling fluid services for the oil and gas industry

    Oil & gas tech
    See in list
  4. The Fuel Delivery

    App-based platform providing fuel delivery management solutions

    Oil & gas tech
    Website
  5. Kleenoilindia

    Manufacturer of industrial oil filtration systems and related equipment

    Oil & gas tech
    Website
24 companies in Maharashtra

Energy tech startups in Maharashtra

Recently founded energy technology startups in Maharashtra.

  1. Tata Passenger Electric Mobility

    Manufacturer of electric cars

    Electric vehicles
    See in list
  2. Aeroeagle

    Manufacturer of automotive vehicles, components, and customized logistics supply chain solutions

    Electric vehicles
    See in list
  3. Ecofy

    Financial solutions for the electric vehicle, solar, and SME sectors

    Alternative lending
    See in list
  4. Josh Fuels

    Doorstep delivery of fuel

    Oil & gas tech
    See in list
  5. Solar Ladder

    Provider of software for solar project management and supply procurement

    Renewable energy tech
    See in list
116 companies in Maharashtra

Energy tech companies hiring in Maharashtra

Energy technology companies with open jobs in Maharashtra.

  1. Jio-bp

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

    Oil & gas downstream
    See in list
  2. Varroc

    Manufacturer of automotive components

    Auto components
    See in list
  3. KPIT

    Autonomous driving solutions for vehicles

    Electric vehicles
    See in list
  4. Ecozen Solutions

    Developer of automated irrigation systems leveraging AI and IoT

    Crop tech
    See in list
  5. Avaada Electro

    Manufacturer of high-efficiency solar cells and modules for utility, commercial, and residential applications

    Smart grid
    See in list
28 companies in Maharashtra

Listed energy tech companies in Maharashtra

Publicly traded energy technology companies in Maharashtra.

  1. Varroc

    Manufacturer of automotive components

    Auto components
    See in list
  2. KPIT

    Autonomous driving solutions for vehicles

    Electric vehicles
    See in list
  3. Sterling and Wilson

    Developer of energy storage systems

    Solar energy
    See in list
  4. SunC

    Manufacturer of battery regeneration machines and provider of regeneration services

    Energy storage tech
    Website
  5. aerpace

    Developer of flying cars

    Electric vehicles
    Website
6 companies in Maharashtra
Mobile reach

Top 10 energy tech apps from Maharashtra

The most-installed Android apps published by energy tech companies headquartered in Maharashtra — 1.1M installs between them. 66 companies on this page publish at least one app; each company (legal entity) appears once, with its most-installed app.

1 of 10
1

Chetak

by Chetak

Installs430K
Rating—
Last updatedMay 2026
View on Google Play ↗
Chetak screenshot 1Chetak screenshot 2Chetak screenshot 3Chetak screenshot 4Chetak screenshot 5
4

AppSociety: Society Management

by AppSociety

Installs122K
Rating—
Installs, year on year+24%
Last updatedJan 2026
View on Google Play ↗
AppSociety: Society Management screenshot 1AppSociety: Society Management screenshot 2AppSociety: Society Management screenshot 3AppSociety: Society Management screenshot 4AppSociety: Society Management screenshot 5AppSociety: Society Management screenshot 6
6

MyJio-bp

by Jio-bp

Installs61K
Rating—
Last updatedMay 2026
View on Google Play ↗
MyJio-bp screenshot 1MyJio-bp screenshot 2MyJio-bp screenshot 3MyJio-bp screenshot 4MyJio-bp screenshot 5MyJio-bp screenshot 6
7

SHRIDE - Electric Bike Rentals

by Shride

Installs50K
Rating—
Last updatedAug 2023
View on Google Play ↗
SHRIDE - Electric Bike Rentals screenshot 1SHRIDE - Electric Bike Rentals screenshot 2SHRIDE - Electric Bike Rentals screenshot 3SHRIDE - Electric Bike Rentals screenshot 4SHRIDE - Electric Bike Rentals screenshot 5SHRIDE - Electric Bike Rentals screenshot 6
8

Repos

by Repos

Installs42K
Rating—
Last updatedMay 2026
View on Google Play ↗
Repos screenshot 1Repos screenshot 2Repos screenshot 3Repos screenshot 4Repos screenshot 5Repos screenshot 6
9

Bijlify EV Charging

by Bijlify

Installs33K
Rating—
Last updatedFeb 2026
View on Google Play ↗
Bijlify EV Charging screenshot 1Bijlify EV Charging screenshot 2Bijlify EV Charging screenshot 3Bijlify EV Charging screenshot 4Bijlify EV Charging screenshot 5Bijlify EV Charging screenshot 6
The business behind the activity

Energy tech financials in Maharashtra

Revenue, profit and growth from the filed annual accounts of 248 energy tech companies in Maharashtra for FY24-25 — 296 of the 566 companies on this page file accounts with the Ministry of Corporate Affairs. The five largest earn 84% of the revenue, so medians describe the typical company better than totals.

combined revenue, FY24-25₹37,912.76 cr

248 companies filing accounts

combined net profit₹924.04 cr

2.4% aggregate margin

are profitable47%

115 of 248 companies

median revenue~₹2.4 cr

the typical company

median revenue growth+27%

into FY24-25

earned by the top five84%

revenue concentration

Six-year view

Combined revenue of filing companies

₹9,653.68 crFY19-20128 filers
₹8,035.56 crFY20-21161 filers
₹10,427.18 crFY21-22185 filers
₹11,133.36 crFY22-23217 filers
₹26,854.37 crFY23-24235 filers
₹37,912.76 crFY24-25248 filers

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

Like-for-like

The same 192 companies over three years

+230%
FY22-23₹11,079.60 cr−₹1,967.50 cr net
FY23-24₹26,658.68 cr₹292.60 cr net
FY24-25₹36,533.49 cr₹762.46 cr net

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

Scale and profit

Bigger companies are far more often profitable

Under ₹1 cr9014% profitable
₹1–10 cr8260% profitable
₹10–100 cr5469% profitable
₹100–1,000 cr1765% 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

Shrinking67
0–20%34
20–50%35
50–100%30
Doubled+54

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

Profitability

Profit is concentrated at the top

115profitable
130loss-making
2.4%aggregate margin
-3.5%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
ASR Control Solutions SystemsASR CONTROL SOLUTION SYSTEMS PRIVATE LIMITED+804%₹18.14 cr
REPLUS EngitechREPLUS ENGITECH PRIVATE LIMITED
Amperehour Solar TechnologyAMPEREHOUR SOLAR TECHNOLOGY PRIVATE LIMITED
VoltUpAMPUP ENERGY PRIVATE LIMITED+193%
Ecozen SolutionsECOZEN SOLUTIONS PRIVATE LIMITED+165%₹1,149.06 cr
Powertronics Corporate SolutionPOWERTRONICS CORPORATE SOLUTION PRIVATE LIMITED+158%₹28.14 cr
Profit leaders · ₹10 cr+ revenue

Highest net margins, FY24-25

CompanyMarginRevenue
Avaada ElectroAvaada Electro Limited18.6%₹933.09 cr
KPITKPIT TECHNOLOGIES LIMITED18.2%₹2,645.93 cr
SATARA CRYOSATARA ENGINEERING PROJECTS AND EQUIPMENTS PRIVATE LIMITED16.7%₹38.95 cr
Gemstar Infra IndiaGEMSTAR INFRA INDIA PRIVATE LIMITED16.3%₹12.47 cr
Raft Cosmic EVRAFT MOTORS LIMITED
Nk E-bikeENGTIAN ELECTRIC BIKE PRIVATE LIMITED
Inside the industry

Sub-sectors compared, FY24-25

Sub-sectorCompaniesRevenueMedian revenueProfitableMargin
Electric vehicles82₹19,567.55 cr~₹67 lakh31%0.6%
Auto components5₹7,668.17 cr~₹11.8 cr20%3.4%
Energy storage tech52₹1,261.79 cr~₹3.1 cr60%2.0%
Smart grid5₹965.07 cr~₹12.5 cr60%17.7%
Renewable energy tech18₹510.77 cr~₹6.4 cr44%0.4%
Energy efficiency tech24₹415.77 cr~₹6.2 cr67%5.1%
Facility management tech12₹289.92 cr~₹3.5 cr58%6.5%
Oil & gas tech13₹263.46 cr~₹2.9 cr62%2.5%
Leaders

Largest energy tech companies by revenue, FY24-25

Company · legal entityRevenueNet resultMarginGrowth
Tata Passenger Electric MobilityTATA PASSENGER ELECTRIC MOBILITY LIMITED₹15,247.00 cr₹95.00 cr0.6%+47%
VarrocVarroc Engineering Limited₹7,396.21 cr₹275.85 cr3.7%+10%
Sterling and WilsonSTERLING AND WILSON RENEWABLE ENERGY LIMITED₹5,592.38 cr₹318.26 cr5.7%+88%
KPITKPIT TECHNOLOGIES LIMITED₹2,645.93 cr₹481.84 cr18.2%+27%
Ecozen SolutionsECOZEN SOLUTIONS PRIVATE LIMITED₹1,149.06 cr₹75.70 cr6.6%+165%
Avaada ElectroAvaada Electro Limited₹933.09 cr₹173.30 cr18.6%>10×
BattrixxKABRA EXTRUSION TECHNIK LTD₹489.83 cr₹33.87 cr6.9%-20%
Jitendra New EV TechJITENDRA WHEELS (NASIK) PRIVATE LIMITED₹267.30 cr₹5.24 cr2.0%+19%
Electra EVELECTRODRIVE POWERTRAIN SOLUTIONS PRIVATE LIMITED₹258.04 cr−₹9.60 cr-3.7%-28%
Kinetic GreenKINETIC GREEN ENERGY AND POWER SOLUTIONS LIMITED₹220.32 cr−₹80.05 cr-36.3%-25%
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Standalone annual accounts filed with the Ministry of Corporate Affairs. Brands that share one legal entity are shown together and counted once.

Industry landscape report

Energy Tech Industry Landscape of India

The financials above are one chapter. The full energy tech landscape of Maharashtra 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 tech landscape of Maharashtra
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 tech funding and M&A across India

1,564 recorded equity rounds have gone to 4,036 energy tech companies in India — how much, at which stage, into which sub-sectors, from whom, and how Maharashtra compares. Debt, IPO and grant rounds are excluded.

equity rounds, last 12 months71

US$945.96m

equity rounds, last 24 months249

US$2.88bn

raised over five yearsUS$8.58bn

1,071 rounds in India

M&A deals, Maharashtra26

last 24 months

Capital by year

Equity funding into energy tech in India

amount rounds
$209m201881
$624m2019114
$238m2020111
$713m2021203
$2.4bn2022239
$1.8bn2023220
$999m2024214
$1.9bn2025156
$736m202639

Bars show US$ raised; the number under each year is equity rounds. 2026 is year to date. The peak year was 2022, with US$2.43bn across 239 rounds.

The funding ladder · five years

Rounds and typical cheque by stage

AngelUS$66.39m169 rounds · median US$121k
SeedUS$742.26m601 rounds · median US$430k
Series AUS$1.40bn182 rounds · median US$5.00m
Series BUS$1.26bn65 rounds · median US$13.74m
Series CUS$998.58m25 rounds · median US$26.97m
Series D+US$3.31bn25 rounds · median US$60.70m
Private equityUS$794.81m4 rounds · median US$250.00m
Where the money went · five years

Most-funded sub-sectors

Electric vehiclesUS$5.50bn455 rounds · 172 companies
Renewable energy techUS$1.22bn93 rounds · 44 companies
Energy storage techUS$673.49m183 rounds · 77 companies
Road transport techUS$321.68m51 rounds · 15 companies
Alternative lendingUS$181.80m18 rounds · 9 companies
Logistics techUS$98.08m13 rounds · 4 companies
Energy efficiency techUS$97.54m36 rounds · 19 companies
Corporate activity · last 24 months

M&A in Maharashtra

26Acquisition

Most active acquirers

  1. Kpit technologies16
  2. Vajram Electric2
  3. Waaree energies1
  4. ChargeZone1
  5. Remsons industries1

Most acquired or merged

  1. Sterling and wilson renewable energy5
  2. Caresoft2
  3. Cymotive1
  4. Maj Jorites Tech1
  5. Cymotive technologies1

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

Go deeper in the energy tech landscape reports:

Energy Tech Industry Landscape of India

Energy tech funding in Maharashtra

87 energy tech companies in Maharashtra have recorded equity funding, US$1.93bn in total. Totals and round dates describe the historical record; they are not current valuations.

Founders and momentum in Maharashtra

Meet the people behind energy tech companies in Maharashtra. 359 of 566 companies list founders or leaders; where a public LinkedIn profile matches exactly, the expanded profile shows the photo, headline, location and education.

Explore Maharashtra energy tech companies by sub-sector

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

Keep exploring energy tech in India and nearby markets.

Coming soon