Company lists
The Maharashtra edition · 2026

Environment techcompanies in Maharashtra

Energy efficiency, water treatment, waste & recycling, renewable energy, air quality & emissions and more: the companies building environment tech in Maharashtra, with their founders, funding, team size and business models.

401 company profiles198 with reported revenue64 with recorded fundingSeptember 2026 edition
Maharashtra · Photo: Wikimedia Commons (Creative Commons Attribution-ShareAlike 4.0)

Recent environment tech business events in Maharashtra

Funding, M&A, contract wins and launches involving 491 environment tech companies in Maharashtra, last 24 months: 24 Contracts · 16 funding rounds · 11 M&A deals · 1 Launch. Newest first; companies and investors link to their Fliar profiles. Latest event in our news feed: Apr 2026.

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
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
ContractInfrastructure

Organic recycling systems · client: Shreyam Manek Agro Products Pvt. Ltd

The Bioenergy Project Development and EPC vertical of Organic Recycling Systems (ORSL) has secured a large scale order from Shreyam Manek Agro Products Pvt. Ltd for the construction of a…

Bioenergy
FundingPre‑Series A

Padcare labs

Padcare Labs, a health tech company, raised $3 million in a Pre‑Series A round led by Rainmatter, with participation from 3one4 Capital and Brigade Reap.

Medical/HealthTech
M&AAcquisition · Announced

Organic recycling systems acquires Industrial Associates Partnership Firm

Organic Recycling Systems Limited announced the acquisition of Industrial Associates Partnership Firm for ₹14.83 crores, as disclosed under Regulation 30 of SEBI (LODR) Regulations, 2015.

Chemical trading and distribution
M&AAcquisition

Parksons packaging acquires Manohar Packagings

The first was Manohar Packagings, a specialist producer of packaging for alcoholic beverages with plants in Goa and Rajpura.

Packaging
M&AAcquisition · Announced

Green fin acquires Parksons packaging

US-based private equity firm Warburg Pincus’ affiliate Green Fin Investments BV has acquired a majority stake in Mumbai-based folding carton giant Parksons Packaging.

Folding Carton Packaging
Contract

Dow Packaging and Specialty Plastics · client: Lucro plastecycle

Dow Packaging and Specialty Plastics and Mumbai-based recycling company Lucro Plastecycle have signed a memorandum of understanding (MoU) to develop and launch polyethylene films using…

Packaging
ContractSupply

Lithrone · client: Parksons packaging

Insight has informed PrintWeek India that Parksons has ordered a brand new Lithrone six colour plus coater press which will be supplied in the second half of financial year 2014-15.

Packaging
ContractSupply

Heidelberg · client: Parksons packaging

The Mumbai-based packaging converter has signed up with KBA, Heidelberg and Komori for installation of four highly configured offset presses.

Packaging
ContractSupply

Komori · client: Parksons packaging

The Mumbai-based packaging converter has signed up with KBA, Heidelberg and Komori for installation of four highly configured offset presses.

Packaging
ContractSupply

Kba · client: Parksons packaging

The Mumbai-based packaging converter has signed up with KBA, Heidelberg and Komori for installation of four highly configured offset presses.

Packaging
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
FundingPre-Series A

Exposome

Exposome, a Mumbai-based clean-tech startup pioneering the development and deployment of regenerative filtration technologies for industrial and municipal air and water treatment, has…

Investors Colossa Womenfirst Fund, Thermax, 3i partners, Infinyte Club Angel Fund
Clean-tech
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
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
FundingLong-term loan

Ecofy

Ecofy Finance, a non-banking financial company (NBFC) focused on supporting India’s green transition, has raised INR 104 Crore ( around $12.5 million) long-term loan facility from the…

Investors Investment Fund for Developing Countries (IFU)
M&AAcquisition · Announced

Hindustan unilever acquires Lucro plastecycle

The board of directors of Hindustan Unilever (HUL), at its meeting on Thursday, approved the investment for acquiring a 14.3 per cent stake in Lucro Plastecycle (Lucro), a leading player…

Waste Management and Recycling
FundingSeries A

Amperehour Energy

AmpereHour Energy has raised $5 million (Rs 43.6 crore) in a Series A funding round, led by Avaana Capital, with participation from UC Impower and several existing angel investors.

Investors Avaana Capital, UC Impower, Various angel investors
Energy storage solutions
LaunchVishwa Carbon

Bharat Carbon

The second day of Outlook Planet C3 Summit and Awards marked the launch of Vishwa Carbon, an end-to-end decarbonisation platform, in collaboration with Primus Partners.

Decarbonisation Platform
M&AAcquisition · Completed

International Conveyors acquires Sterling and wilson renewable energy

International Conveyors has informed that it has acquired equity shares in Sterling and Wilson Renewable Energy (SW Solar), valued at Rs 3.49 crore.

Solar EPC
M&AAcquisition · Completed

Morgan stanley acquires Sterling and wilson renewable energy

Investment banking firm Morgan Stanley on Tuesday bought a 1.5 per cent stake in Sterling and Wilson Renewable Energy for ₹103 crore through an open market transaction.

FundingCapital

Kinetic green

Global private equity firm Greater Pacific Capital (GPC) has provided $25 million in capital to electric vehicle manufacturer Kinetic Green.

M&AMerger · Announced

Jk paper acquires Horizon packs

On December 13, 2024, the company’s Board of Directors approved a Composite Scheme of Arrangement aimed at integrating its wholly owned subsidiaries—Horizon Packs Private Limited,…

Packaging Solutions
Funding

Ecozen

Solar solutions provider Ecozen is planning to raise $75 million (about Rs 620 crore) to fuel its expansion plan in the domestic and international markets, a company official said.

Renewable Energy

Environment tech companies in Maharashtra, by revenue

Browse environment 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 198 environment 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

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

Provider of wastewater and solid waste treatment solutions

Solid waste management tech
₹726.96 crFY 2024-25
+7%2024–2025
178+12% 12 mo to Sep 2024recorded Sep 2024
22 yr2004
0none in 3 months

Provider of industrial wastewater treatment services

Water and wastewater management tech
₹599.16 crFY 2024-25
+17%2024–2025
56+11% 12 mo to Jun 2023LinkedIn · Jul 2026
34 yr1992
0none in 3 months

Provider of drinking water station network for consumers

Water and wastewater management tech
₹511.96 crFY 2024-25
+147%2024–2025
197+9% 12 mo to Jul 2024recorded Jul 2024
20 yr2006
0none in 3 months

Provider of sustainable transportation solutions using lng powered trucks and natural gas pipelines

Air pollution management tech
₹326.22 crFY 2024-25
+75%2024–2025
371LinkedIn · Jul 2026
5 yr2021
1postings · last posted Jul 2026

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

Provider of e-waste, battery, vehicle, and office equipment recycling services

Solid waste management tech
₹220.63 crFY 2024-25
+75%2024–2025
23-48% 12 mo to Feb 2024recorded Feb 2024
16 yr2010
0none in 3 months

Provider of post-consumer plastic waste collection, recycling, and product manufacturing

Solid waste management tech
₹203.99 crFY 2024-25
Not reported
73+1% 12 mo to Aug 2024LinkedIn · Jul 2026
14 yr2012
0none in 3 months

Provider of recycled plastic flakes and granules from post-consumer waste. It sources waste from various points in the supply chain, including waste pickers and municipalities. The company processes this waste to produce high-quality recycled PET and polyolefin products for use in various industries, including fashion, consumer packaging, and material handling. It also assists companies in meeting their extended producer responsibility (EPR) obligations. The process aims to maximize the value of collected plastic waste and promote a circular economy.

Solid waste management tech
₹172.23 crFY 2024-25
+13%2024–2025
160LinkedIn · Jul 2026
20 yr2006
0none in 3 months · last posted Jun 2026

Manufacturer of recycled polyester chips and filament yarn

Solid waste management tech
₹169.21 crFY 2024-25
+5%2024–2025
233LinkedIn · Jul 2026
45 yr1981
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

Water and wastewater treatment solutions

Water and wastewater management tech
₹152.84 crFY 2024-25
+5%2024–2025
6+53% 12 mo to Sep 2024LinkedIn · Jul 2026
25 yr2001
0none in 3 months

Solid waste management solution for the complex processes like dumpsite reclamation

Solid waste management tech
₹135.25 crFY 2024-25
+38%2024–2025
—Not available
8 yr2018
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

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

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

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

Provider of lithium-ion battery and energy storage solutions

Electric vehicles
₹105.26 crFY 2024-25
+429%2024–2025
193+84% 12 mo to Sep 2024LinkedIn · Jul 2026
8 yr2018
0none in 3 months

Provider of energy storage systems and energy management platform solutions

Renewable energy tech
₹83.91 crFY 2024-25
Not reported
111+33% 12 mo to Sep 2024LinkedIn · Jul 2026
9 yr2017
0none in 3 months

Manufacturer of solar water heaters

Facility management tech
₹83.04 crFY 2024-25
+7%2024–2025
77+27% 12 mo to Sep 2024LinkedIn · Jul 2026
37 yr1989
0none in 3 months

Provider of sustainable technology solutions for air purification and emission control

Air pollution management tech
₹76.97 crFY 2024-25
+2%2024–2025
120+46% 12 mo to Sep 2024LinkedIn · Jul 2026
7 yr2019
0none in 3 months

Provider of software for solar project management and supply procurement

Renewable energy tech
₹69.77 crFY 2024-25
+70%2024–2025
28LinkedIn · Jul 2026
5 yr2021
0none in 3 months

Manufacturer of air filtration media for HVAC, automotive, and healthcare applications. It produces nonwoven materials using various in-house technologies, including meltblown, thermal bonding, and needle punching. The company offers media for pre and fine filters in the HVAC market, materials for cabin air filters, fuel water separators, and engine air filtration in the automotive sector, and filtration materials for surgical face masks and respirators in the healthcare industry. Additional applications include hydraulic and water filtration. The materials meet global standards such as ISO 16

Air management services
₹62.76 crFY 2024-25
+40%2024–2025
54+8% 12 mo to Aug 2024LinkedIn · Jul 2026
25 yr2001
0none in 3 months
50 of 401 companies shown here · the full list is on Radar
Fliar Radar

Explore all 401 environment 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 environment tech in Maharashtra on Radar
  • Every company, not just 50All 401 environment 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 environment tech companies in Maharashtra by what you are looking for

Browse the top environment tech companies in Maharashtra, from energy efficiency and water treatment to waste recycling and renewable energy. You can also find environment tech startups in Maharashtra, listed companies and those hiring now.

9 ways to explore environment tech in Maharashtra

Energy efficiency & building managementWater & wastewater treatmentWaste management & recycling companiesRenewable energy, solar & energy storageAir pollution control & emission managementElectric vehicles, green transport & smart farming

Energy efficiency & building management

Energy management, smart lighting and building automation for commercial spaces.

  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

Water & wastewater treatment

Water treatment, purification, leak detection and irrigation solutions.

  1. Ecozen Solutions

    Developer of automated irrigation systems leveraging AI and IoT

    Crop tech
    See in list
  2. SFC

    Provider of wastewater and solid waste treatment solutions

    Solid waste management tech
    See in list
  3. Concord Enviro

    Provider of industrial wastewater treatment services

    Water and wastewater management tech
    See in list
  4. Rite Water Solutions

    Provider of drinking water station network for consumers

    Water and wastewater management tech
    See in list
  5. Hydropure

    Water and wastewater treatment solutions

    Water and wastewater management tech
    See in list

Waste management & recycling companies

Waste collection, recycling and waste-to-energy companies, including plastic and e-waste.

  1. SFC

    Provider of wastewater and solid waste treatment solutions

    Solid waste management tech
    See in list
  2. Recyclekaro

    Provider of e-waste, battery, vehicle, and office equipment recycling services

    Solid waste management tech
    See in list
  3. Lucro

    Provider of post-consumer plastic waste collection, recycling, and product manufacturing

    Solid waste management tech
    See in list
  4. Dalmia Polypro Industries

    Provider of recycled plastic flakes and granules from post-consumer waste. It sources waste from various points in the supply chain, including waste pickers and municipalities. The company processes this waste to produce high-quality recycled PET and polyolefin products for use in various industries, including fashion, consumer packaging, and material handling. It also assists companies in meeting their extended producer responsibility (EPR) obligations. The process aims to maximize the value of collected plastic waste and promote a circular economy.

    Solid waste management tech
    See in list
  5. Revalyu

    Manufacturer of recycled polyester chips and filament yarn

    Solid waste management tech
    See in list

Renewable energy, solar & energy storage

Solar, bioenergy, smart grid and battery storage companies.

  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

Air pollution control & emission management

Air purification, air quality monitoring and emission control solutions.

  1. PI Green Innovations

    Provider of sustainable technology solutions for air purification and emission control

    Air pollution management tech
    See in list
  2. AIM

    Manufacturer of air filtration media for HVAC, automotive, and healthcare applications. It produces nonwoven materials using various in-house technologies, including meltblown, thermal bonding, and needle punching. The company offers media for pre and fine filters in the HVAC market, materials for cabin air filters, fuel water separators, and engine air filtration in the automotive sector, and filtration materials for surgical face masks and respirators in the healthcare industry. Additional applications include hydraulic and water filtration. The materials meet global standards such as ISO 16

    Air management services
    See in list
  3. FountLab

    Provider of indoor and outdoor air quality monitoring devices

    Air pollution management tech
    Website
  4. Arrowrise-Energy

    Developer of pollution control equipment for thermal power plant flue gas

    Air pollution management tech
    Website
  5. Nirmitee Robotics

    Provider of HVAC air duct inspection and cleaning robots

    Air pollution management tech
    Website

Electric vehicles, green transport & smart farming

Electric mobility companies and smart farming tech for sustainable agriculture.

  1. Ecozen Solutions

    Developer of automated irrigation systems leveraging AI and IoT

    Crop tech
    See in list
  2. Ecofy

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

    Alternative lending
    See in list
  3. Driptech India

    Provider of cost-effective drip irrigation systems and solutions

    Crop tech
    See in list
  4. Nexsel Tech

    Manufacturer of horticulture lighting products for biotech and horticulture purposes

    Facility management tech
    Website
  5. Opulent

    Provider of app-based platform for remotely managing drip irrigation system

    Water and wastewater management tech
    Website

Listed environment tech companies in Maharashtra

Publicly listed environment tech companies in Maharashtra.

  1. Sterling and Wilson

    Developer of energy storage systems

    Solar energy
    See in list
  2. Concord Enviro

    Provider of industrial wastewater treatment services

    Water and wastewater management tech
    See in list
  3. Organic Recycling Systems

    Provider of waste management solutions

    Solid waste management tech
    See in list
  4. Nirmitee Robotics

    Provider of HVAC air duct inspection and cleaning robots

    Air pollution management tech
    Website
4 companies in Maharashtra

Environment tech startups in Maharashtra

Recently founded environment tech companies in Maharashtra.

  1. GreenLine

    Provider of sustainable transportation solutions using lng powered trucks and natural gas pipelines

    Air pollution management tech
    See in list
  2. Ecofy

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

    Alternative lending
    See in list
  3. Solar Ladder

    Provider of software for solar project management and supply procurement

    Renewable energy tech
    See in list
  4. Lico

    It is a lithium-ion battery recycling company focused on recycling end-of-life lithium-ion batteries

    Solid waste management tech
    See in list
  5. Gemstar Infra India

    Provider of smart electric meters and deployment services

    Smart grid
    Website
101 companies in Maharashtra

Environment tech companies hiring in Maharashtra

Environment tech companies in Maharashtra with open roles right now.

  1. Ecozen Solutions

    Developer of automated irrigation systems leveraging AI and IoT

    Crop tech
    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. GreenLine

    Provider of sustainable transportation solutions using lng powered trucks and natural gas pipelines

    Air pollution management tech
    See in list
  4. Aerem

    Solar financing, equipment procurement, and performance monitoring solutions

    Renewable energy tech
    See in list
  5. Dalmia Polypro Industries

    Provider of recycled plastic flakes and granules from post-consumer waste. It sources waste from various points in the supply chain, including waste pickers and municipalities. The company processes this waste to produce high-quality recycled PET and polyolefin products for use in various industries, including fashion, consumer packaging, and material handling. It also assists companies in meeting their extended producer responsibility (EPR) obligations. The process aims to maximize the value of collected plastic waste and promote a circular economy.

    Solid waste management tech
    See in list
30 companies in Maharashtra
Mobile reach

Top 10 environment tech apps from Maharashtra

The most-installed Android apps published by environment tech companies headquartered in Maharashtra — 958K installs between them. 47 companies on this page publish at least one app; each company (legal entity) appears once, with its most-installed app.

1 of 10
3

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
4

Cool The Globe

by Cool The Globe

Installs112K
Rating3.88579 ratings
Last updatedMay 2026
View on Google Play ↗
Cool The Globe screenshot 1Cool The Globe screenshot 2Cool The Globe screenshot 3Cool The Globe screenshot 4Cool The Globe screenshot 5Cool The Globe screenshot 6
6

Earth5R- The Environmental App

by Earth5R

Installs61K
Rating4.612K ratings
Last updatedOct 2025
View on Google Play ↗
Earth5R- The Environmental App screenshot 1Earth5R- The Environmental App screenshot 2Earth5R- The Environmental App screenshot 3Earth5R- The Environmental App screenshot 4Earth5R- The Environmental App screenshot 5Earth5R- The Environmental App screenshot 6
8

Myplan8 | Climate Action

by Myplan8

Installs34K
Rating—
Last updatedNov 2025
View on Google Play ↗
Myplan8 | Climate Action screenshot 1Myplan8 | Climate Action screenshot 2Myplan8 | Climate Action screenshot 3Myplan8 | Climate Action screenshot 4Myplan8 | Climate Action screenshot 5Myplan8 | Climate Action screenshot 6
9

WaterApp

by WaterApp

Installs32K
Rating—
Last updatedApr 2026
View on Google Play ↗
WaterApp screenshot 1WaterApp screenshot 2WaterApp screenshot 3WaterApp screenshot 4WaterApp screenshot 5WaterApp screenshot 6
10

Rotomag Pump-eye

by FountLab

Installs31K
Rating—
Last updatedFeb 2026
View on Google Play ↗
Rotomag Pump-eye screenshot 1Rotomag Pump-eye screenshot 2
The business behind the activity

Environment tech financials in Maharashtra

Revenue, profit and growth from the filed annual accounts of 181 environment tech companies in Maharashtra for FY24-25 — 215 of the 401 companies on this page file accounts with the Ministry of Corporate Affairs. The five largest earn 74% of the revenue, so medians describe the typical company better than totals.

combined revenue, FY24-25₹11,336.58 cr

181 companies filing accounts

combined net profit₹661.31 cr

5.8% aggregate margin

are profitable61%

110 of 181 companies

median revenue~₹3.1 cr

the typical company

median revenue growth+25%

into FY24-25

earned by the top five74%

revenue concentration

Six-year view

Combined revenue of filing companies

₹6,173.55 crFY19-20114 filers
₹4,749.96 crFY20-21132 filers
₹5,627.14 crFY21-22138 filers
₹4,433.07 crFY22-23158 filers
₹6,475.25 crFY23-24169 filers
₹11,336.58 crFY24-25181 filers

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

Like-for-like

The same 144 companies over three years

+135%
FY22-23₹4,404.38 cr−₹218.17 cr net
FY23-24₹6,411.73 cr₹299.27 cr net
FY24-25₹10,335.59 cr₹493.83 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 cr6234% profitable
₹1–10 cr6273% profitable
₹10–100 cr4178% profitable
₹100–1,000 cr1471% profitable
Over ₹1,000 cr2100% profitable

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

Momentum

How fast revenue moved into FY24-25

Shrinking46
0–20%26
20–50%29
50–100%21
Doubled+37

159 companies with accounts for both years; median growth +25%.

Profitability

Profit is concentrated at the top

110profitable
69loss-making
5.8%aggregate margin
1.7%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
REPLUS EngitechREPLUS ENGITECH PRIVATE LIMITED+429%₹105.26 cr
Amperehour Solar TechnologyAMPEREHOUR SOLAR TECHNOLOGY PRIVATE LIMITED+285%₹83.91 cr
Ecozen SolutionsECOZEN SOLUTIONS PRIVATE LIMITED+165%₹1,149.06 cr
PadCare LabsPADCARE LABS PRIVATE LIMITED+138%₹14.21 cr
Spruce UpSPRUCE UP INDUSTRIES PRIVATE LIMITED+121%₹13.08 cr
Sameer GroupSAMEER ELECTRO SYSTEMS PRIVATE LIMITED+97%
Profit leaders · ₹10 cr+ revenue

Highest net margins, FY24-25

CompanyMarginRevenue
SFCSFC ENVIRONMENTAL TECHNOLOGIES LIMITED25.6%₹505.34 cr
CloudtapACE HYGIENE PRODUCTS PRIVATE LIMITED25.4%₹112.42 cr
Cranberry AnalyticsCRANBERRY ANALYTICS PRIVATE LIMITED
Avaada ElectroAvaada Electro Limited18.6%₹933.09 cr
Gemstar Infra IndiaGEMSTAR INFRA INDIA PRIVATE LIMITED16.3%
ViaGreenAN USEDLESS PAPER PRIVATE LIMITED16.2%₹10.06 cr
Inside the industry

Sub-sectors compared, FY24-25

Sub-sectorCompaniesRevenueMedian revenueProfitableMargin
Solid waste management tech28₹1,296.77 cr~₹2.4 cr67%4.2%
Crop tech5₹1,206.88 cr~₹27.3 cr80%6.5%
Smart grid5₹965.07 cr~₹12.5 cr60%17.7%
Water and wastewater management tech36₹604.44 cr~₹3.6 cr64%5.6%
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%
Air pollution management tech22₹147.92 cr~₹31 lakh59%-18.6%
Leaders

Largest environment tech companies by revenue, FY24-25

Company · legal entityRevenueNet resultMarginGrowth
Sterling and WilsonSTERLING AND WILSON RENEWABLE ENERGY LIMITED₹5,592.38 cr₹318.26 cr5.7%+88%
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×
SFCSFC ENVIRONMENTAL TECHNOLOGIES LIMITED₹505.34 cr₹129.57 cr25.6%-7%
RecyclekaroEVERGREEN RECYCLEKARO (INDIA) LIMITED₹185.49 cr₹18.92 cr10.2%+90%
RevalyuREVALYU RECYCLING (INDIA) LIMITED₹169.21 cr−₹108.57 cr-64.2%+5%
Dalmia Polypro IndustriesDALMIA POLYPRO INDUSTRIES PRIVATE LIMITED₹167.71 cr₹3.47 cr2.1%+10%
OnLine NetsysONLINE NETSYS (INDIA) PRIVATE LIMITED₹162.42 cr₹11.91 cr7.3%+9%
HydropureHYDROPURE SYSTEMS PRIVATE LIMITED₹152.84 cr₹5.64 cr3.7%+5%
eSmart Energy solutionsESMART ENERGY SOLUTIONS LIMITED₹139.80 cr₹17.51 cr12.5%+24%
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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

Environment Tech Industry Landscape of India

The financials above are one chapter. The full environment 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 environment 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

Environment tech funding and M&A across India

977 recorded equity rounds have gone to 2,459 environment 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 months47

US$616.12m

equity rounds, last 24 months161

US$1.00bn

raised over five yearsUS$2.37bn

583 rounds in India

M&A deals, Maharashtra11

last 24 months

Capital by year

Equity funding into environment tech in India

amount rounds
$17m201861
$56m201971
$49m202079
$70m202182
$584m2022122
$424m2023121
$332m2024126
$434m2025105
$524m202627

Bars show US$ raised; the number under each year is equity rounds. 2026 is year to date. The peak year was 2022, with US$584.38m across 122 rounds.

The funding ladder · five years

Rounds and typical cheque by stage

AngelUS$17.01m71 rounds · median US$101k
SeedUS$320.07m374 rounds · median US$411k
Series AUS$399.35m94 rounds · median US$3.89m
Series BUS$362.54m27 rounds · median US$11.25m
Series CUS$275.31m13 rounds · median US$11.54m
Series D+US$343.82m1 rounds · median US$343.82m
Private equityUS$650.00m3 rounds · median US$325.00m
Where the money went · five years

Most-funded sub-sectors

Renewable energy techUS$1.22bn93 rounds · 44 companies
Solid waste management techUS$243.03m103 rounds · 47 companies
Air pollution management techUS$157.59m74 rounds · 38 companies
Alternative lendingUS$126.44m7 rounds · 3 companies
Energy storage techUS$119.67m19 rounds · 6 companies
Energy efficiency techUS$97.54m36 rounds · 19 companies
Water and wastewater management techUS$85.85m79 rounds · 33 companies
Corporate activity · last 24 months

M&A in Maharashtra

10Acquisition
1Merger

Most active acquirers

  1. Organic recycling systems1
  2. Parksons packaging1
  3. Green fin1
  4. Waaree energies1
  5. Hindustan unilever1

Most acquired or merged

  1. Sterling and wilson renewable energy5
  2. Industrial Associates Partnership Firm1
  3. Manohar Packagings1
  4. Parksons packaging1
  5. Racemosa Energy (India) Private Limited1

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

Go deeper in the environment tech landscape reports:

Environment Tech Industry Landscape of India

Environment tech funding in Maharashtra

64 environment tech companies in Maharashtra have recorded equity funding, US$437.53m in total. Totals and round dates describe the historical record; they are not current valuations.

Founders and momentum in Maharashtra

Meet the people behind environment tech companies in Maharashtra. 271 of 401 companies list founders or leaders; where a public LinkedIn profile matches exactly, the expanded profile shows the photo, headline, location and education.

Explore Maharashtra environment tech companies by sub-sector

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

Keep exploring environment tech in India and nearby markets.

Coming soon