Solar, waste & water, consultancy, wind & bioenergy, green buildings and more: the companies building environment in Ahmedabad, Gujarat, with their founders, funding, team size and business models.
Funding, M&A, contract wins and launches involving 5,556 environment companies in India, last 24 months: 660 Contracts · 148 M&A deals · 92 funding rounds · 8 launches. Newest first; companies and investors link to their Fliar profiles. Latest event in our news feed: Jun 2026.
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…
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).
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.
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…
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…
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…
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.
K Raheja Corp, one of India's leading real estate conglomerates, has launched 'Reverse Mentoring', a people-focused learning initiative designed to encourage meaningful dialogue between…
Learning and Development
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…
JSW Energy has executed definitive agreements to acquire an additional equity stake in Toshiba JSW Power Systems (TJPS), by way of a secondary purchase of equity shares from Toshiba…
Waaree Renewable Technologies on Thursday said it has inked pacts for the acquisition of a 55 per cent stake in Associated Power Structures Pvt Ltd for ₹1,225 crore.
Amrut Energy Private Limited, a leading manufacturer of solar-powered water pumping systems, today announced its merger into Mascot Dynamics Private Limited, a diversified engineering…
Inox Clean Energy Limited has completed the acquisition of Vibrant Energy, a Macquarie-backed renewable independent power producer focused on the commercial and industrial (C&I) segment.…
HPL Electric & Power Limited secured work orders worth Rs. 242.24 crore from multiple infrastructure companies for the supply of smart meters, strengthening its order book and growth…
HPL Electric & Power Limited secured work orders worth Rs. 242.24 crore from multiple infrastructure companies for the supply of smart meters, strengthening its order book and growth…
Waaree Energies has announced plans to enter the semiconductor segment as part of a broader restructuring exercise, alongside the approval of a fundraising programme of up to ₹100…
Semiconductor, Power Electronics, Renewable Energy
Waaree Power Private Limited, a wholly owned subsidiary, will acquire 100% shareholding of Waaree Semicon Private Limited from Waaree Sustainable Finance Private Limited
Bondada Engineering, a Hyderabad-based engineering, procurement, and construction company, has secured multiple orders worth ₹1.25 billion (~$13.22 million) for a 75 MW solar project in…
Bondada Engineering, a Hyderabad-based engineering, procurement, and construction company, has secured multiple orders worth ₹1.25 billion (~$13.22 million) for a 75 MW solar project in…
"Our acquisition of Melcon is a strategic step towards deepening our control across the power value chain. By integrating transformer manufacturing, we are not just adding a capability…
Premier Energies acquired a 51% stake in transformer manufacturer Transcon and inverter producer KSolare Energy. Premier invested INR5 billion (US$56.96 million) in Transcon and INR1.7…
Solarworld Energy Solutions Limited has announced the signing of an Engineering, Procurement, and Construction (EPC) contract with NTPC Renewable Energy Limited for the development of a…
It then went on to acquire Macquarie-owned Vibrant Energy, an Indian renewable energy company that supplies electricity to Amazon’s establishments in the country.
Loom Solar has secured a second land allotment from the Uttar Pradesh government to scale its solar and Battery Energy Storage Systems (BESS) manufacturing capacity.
Zodiac Energy has received a Letter of Intent (LoI) worth around $3.28 million (around Rs 30.85 crore) from an international entity based in Zambia. The LoI is for execution of a turnkey…
InvestorsNa
Solar Energy
M&AAcquisition · Pending
National Investment and Infrastructure Fund (NIIF) acquires Sprng energy
National Investment and Infrastructure Fund (NIIF) has emerged as the frontrunner to acquire Sprng Energy from Shell for nearly $1.7 billion, said people in the know, as India’s…
Shell Group acquired Sprng as part of a global clean energy pivot for $1.55 billion in 2022.
Renewable Energy
Environment companies in Ahmedabad, by revenue
Browse environment companies in Ahmedabad 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 119 environment companies in Ahmedabad, 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
Company & businessRevenueRevenue growthHeadcount & growthAgeJobs · last 3 months
Independent power producer from renewable energy sources
Each tile appears only where data is on record. Founder photos and LinkedIn links appear where a profile matches exactly.
Multinational conglomerate operating across six industry verticals, including flexible packaging, industrial material handling, solar renewables, drip irrigation and pipes
Every company, not just 50All 247 environment companies in Ahmedabad, 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.
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Explore environment companies in Ahmedabad by what you are looking for
Find top environmental companies in Ahmedabad, from solar and wind developers to waste and water treatment firms. Browse environment startups in Ahmedabad and listed companies working on a cleaner future.
9 ways to explore environment in Ahmedabad
Solar energy companiesWaste & water management companiesEnvironmental consultancy & compliance servicesWind energy & bioenergy companiesGreen building companiesAir quality & pollution control companies
Solar energy companies
Solar panel makers, rooftop installers and solar project developers.
Makers of filters and systems for air quality and pollution control.
Atmos Power
Manufacturer of industrial gas generation and purification plants. These plants encompass various applications, including nitrogen, oxygen, biogas, hydrogen, and natural gas processing. The company designs and manufactures equipment using high-quality materials and advanced technologies. Services include plant installation, commissioning, and personnel training. The focus is on providing durable, low-maintenance systems that meet diverse industrial needs.
The most-installed Android apps published by environment companies headquartered in Ahmedabad — 146K installs between them. 10 companies on this page publish at least one app; each company (legal entity) appears once, with its most-installed app.
Revenue, profit and growth from the filed annual accounts of 115 environment companies in Ahmedabad, Gujarat for FY24-25 — 134 of the 247 companies on this page file accounts with the Ministry of Corporate Affairs. The five largest earn 77% of the revenue, so medians describe the typical company better than totals.
combined revenue, FY24-25₹39,854.70 cr
115 companies filing accounts
combined net profit₹2,361.64 cr
5.9% aggregate margin
are profitable86%
99 of 115 companies
median revenue~₹23.4 cr
the typical company
median revenue growth+30%
into FY24-25
earned by the top five77%
revenue concentration
Six-year view
Combined revenue of filing companies
₹7,087.16 crFY19-2097 filers
₹9,425.95 crFY20-2197 filers
₹19,545.61 crFY21-22106 filers
₹17,152.98 crFY22-23114 filers
₹25,797.33 crFY23-24113 filers
₹39,854.70 crFY24-25115 filers
The number of companies filing changes each year; the three-year cohort below compares like with like.
Like-for-like
The same 104 companies over three years
+131%
FY22-23₹16,495.36 cr−₹561.18 cr net
FY23-24₹24,337.23 cr−₹23.17 cr net
FY24-25₹38,079.74 cr₹2,251.75 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 cr1250% profitable
₹1–10 cr2673% profitable
₹10–100 cr4696% profitable
₹100–1,000 cr2696% 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
Shrinking23
0–20%22
20–50%17
50–100%31
Doubled+16
109 companies with accounts for both years; median growth +30%.
Profitability
Profit is concentrated at the top
99profitable
16loss-making
5.9%aggregate margin
2.8%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
Company
Growth
Revenue
GREWGREW ENERGY PRIVATE LIMITED
+605%
₹1,429.59 cr
GreenpillGREENPILL RENEWABLE ENERGY PRIVATE LIMITED
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
Environment Industry Landscape of Ahmedabad
The financials above are one chapter. The full environment landscape of Ahmedabad maps the whole industry — every segment, the capital behind it, the talent market and where the next opportunities are.
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
Environment funding and M&A across India
599 recorded equity rounds have gone to 5,556 environment companies in India — how much, at which stage, into which sub-sectors, from whom, and how Ahmedabad compares. Debt, IPO and grant rounds are excluded.
equity rounds, last 12 months22
US$804.28m
equity rounds, last 24 months72
US$1.35bn
raised over five yearsUS$5.13bn
219 rounds in India
M&A deals, India148
last 24 months
Capital by year
Equity funding into environment in India
amount rounds
$997m201836
$1.1bn201928
$471m202022
$691m202133
$1.3bn202232
$1.0bn202333
$844m202467
$862m202543
$389m202611
Bars show US$ raised; the number under each year is equity rounds. 2026 is year to date. The peak year was 2022, with US$1.31bn across 32 rounds.
The funding ladder · five years
Rounds and typical cheque by stage
AngelUS$103.33m29 rounds · median US$283k
SeedUS$83.85m91 rounds · median US$434k
Series AUS$405.26m39 rounds · median US$4.58m
Series BUS$618.28m16 rounds · median US$26.05m
Series CUS$638.22m17 rounds · median US$35.61m
Series D+US$2.17bn20 rounds · median US$58.75m
Private equityUS$1.11bn7 rounds · median US$175.00m
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
Waste & water managementUS$103.65m32 rounds · 26 companies
Air management servicesUS$87.06m5 rounds · 3 companies
Alternative lendingUS$54.61m4 rounds · 1 companies
Green buildingsUS$17.26m5 rounds · 4 companies
Ahmedabad in context
Ahmedabad’s share of India’s environment funding
Rounds8%18 of 219
Capital4%US$208.71m of US$5.13bn
Equity rounds over the last five years, 278 environment companies in Ahmedabad among 5,556 in India.
Corporate activity · last 24 months
M&A in India
140Acquisition
7Merger
1Announced
Most active acquirers
Waaree energies14
Inox Clean Energy11
Premier energies9
ONGC-NTPC Green Pvt Ltd8
Thermax4
Most acquired or merged
Sprng energy10
Ayana renewable power9
Wind World India7
Vibrant energy6
Ksolare energy6
Each deal appears in the events strip at the top of the page.
12 environment companies in Ahmedabad have recorded equity funding, US$244.38m in total. Totals and round dates describe the historical record; they are not current valuations.
Most funded
Largest recorded equity totals, with the latest recorded round.
Solar energy
Manufacturer of photovoltaic modules, offering engineering, procurement, and construction for solar projects
Recorded equity fundingUS$149.89mSeries D · Feb 2026
Each tile appears only where data is on record. Founder photos and LinkedIn links appear where a profile matches exactly.
Founders and momentum in Ahmedabad
Meet the people behind environment companies in Ahmedabad. 102 of 247 companies list founders or leaders; where a public LinkedIn profile matches exactly, the expanded profile shows the photo, headline, location and education.
Fastest revenue growth
Environment companies in Ahmedabad with the highest one-year revenue growth among those reporting at least ₹5 crore in revenue. Growth is the reported one-year change for the period shown.
Solar energy
Manufacturer of solar modules and provider of solar energy solutions
Each tile appears only where data is on record. Founder photos and LinkedIn links appear where a profile matches exactly.
Growing teams
Companies whose recorded headcount rose the most between the two most recent team-size snapshots. A larger team is a signal of momentum, not of profitability.
Waste & water management
Supplier and manufacturer of sewage treatment, industrial RO, and water treatment services
Team size3,387Up from 32 in the previous snapshot
Founders
Details not available
Waste & water management
Lubi Pumps is a leading Water pumps and motors manufacturer company from India Since 1965.
Team size3,750Up from 372 in the previous snapshot
Multinational conglomerate operating across six industry verticals, including flexible packaging, industrial material handling, solar renewables, drip irrigation and pipes
Each tile appears only where data is on record. Founder photos and LinkedIn links appear where a profile matches exactly.
Women-founded
Environment companies in Ahmedabad with at least one woman on the founding team. Expand a profile to meet the founders; teams can include both women and men.
Solar energy
Developer of solar renewable energy power projects
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