Azure Power Maple Private Limited - Due diligence report

A 360° intelligence report on Azurepower: trust score, financial health, credit view, compliance, directors, growth and distress signals - g…

2017-10-06 New Delhi, Delhi Active Unlisted Active Compliant
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AP Azure Power Maple Private Limited
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  • Director details, charges & MCA documents
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Azurepower — 360° Intelligence Report

Generated from MCA filings & public records
73/100
Trust Score
Moderate

Azurepower is assessed as Moderate with a Trust Score of 73/100. Azurepower is an active private limited indian non-government company incorporated in 2017, operating in the Environment sector. It reported a loss in its latest filed year. Based on MCA filings and public records, it currently shows a low compliance risk and high financial risk profile.

Report generated on 17 Jul 2026 from the latest processed filings. Azure Power Maple Private Limited snapshot & full profile →

Financial Health › Weak
Overall Assessment CautionWeakNeutralGoodStrong Strong
Compliance › Strong

Automated indicators derived from public MCA / GST / EPFO records - not a credit rating, not investment, legal or financial advice. Spotted an inaccuracy? Report an error.

02

Score Card

Higher is safer · rule-based & explainable
Trust ScoreModerate
73/100
Overall counterparty trust - the headline number of this report.
Compliance ScoreLow Risk
82/100
Statutory standing - status, filings, auditor, MSME and litigation.
Financial Health ScoreCaution Indicated
40/100
Profitability, leverage and liquidity from filed statements.
Credit Risk ScoreCaution Indicated
25/100
Debt capacity, gearing and security cover for lenders.
Director Stability ScoreLow Risk
85/100
Board strength, DIN status, churn and network.
Growth ScoreModerate
60/100
Revenue, profit, asset and hiring momentum.
Distress ScoreLow Risk
90/100
Early-warning signals - higher means fewer warnings.
03

Financial Intelligence Dashboard

Standalone · 5 filed year(s)

Unlock the full 5-year financial dashboard with charts and year-wise figures.

Get full access

Scores and observations on this page are already computed from the real filings - only the underlying figures are locked.

04

Credit & Compliance Intelligence

Why the scores are what they are
Credit Risk Score: 25/100 Caution Indicated
  • Liabilities ≈ 38% EBITDA - stretched.
  • Open charges exceed net worth - secured lenders rank ahead.
  • Elevated gearing (D/E 1.42).
  • Externally credit-rated (A1).

Charges position: 2 open (1,328.00 cr) · 6 satisfied (3,239.75 cr).

Banking relationships (from registered charges)
LenderChargesAmount
Sbicap Trustee Company Limited2 48.0 cr
Others4 48.0 cr
Axis Bank Limited1 48.0 cr
The Hongkong And Shanghai Banking Corporation Limited1 48.0 cr
Compliance Score: 82/100 Low Risk
  • Company status is Active as per MCA.
  • Annual filings current (balance sheet Mar 2025).
  • 2 auditor resignation(s) filed - latest: S.R. BATLIBOI & CO LLP on 2023-07-10.
  • Delayed payments to MSME suppliers disclosed (41 disclosure(s)).
  • 1 active GST registration(s).
05

Director Intelligence

Stability score: 85/100
NameDIN / PANDesignationAppointedTenureDIN status
KAPIL SHARMA 01234567 Director 01/04/2018 6 yrs Approved
Kunal Jindal 01234567 Director 01/04/2018 6 yrs Approved
  • 2 directors on the board.
  • No disqualified or deactivated DINs.
  • 2 director exit(s) in the last 3 years.
06

Ownership & Group Intelligence

As per FY 2024 annual return
Promoter holding
64.27%
Public / other holding
35.73%
Equity shares
12,45,67,890
Equity paid-up
124.5 cr
Promoters on record
4
Ultimate holding entity
Azure Power India Private Limited
Subsidiaries
-
Group entities
-
Capital events
3 allotment(s) · 1 transfer(s)

Promoters hold a dominant controlling stake - exact percentages are part of the full report.

Group entityRelationship% held
Azure Power India Private Limited Holding Company 74.00%

Full shareholding pattern, group structure & capital events →

07

Risk Intelligence Center

Growth 60 · Distress 90
Growth signals & trust indicators
Latest year revenue grew 2.1x.
Operating for 8 years.
Active GST registration(s).
Distress signals & risk flags
2 open charge(s) registered - assets are encumbered.
2 auditor resignation(s) on record - review the stated reasons.
MSME payment delays disclosed - latest outstanding 6.31 cr.
08

Stakeholder Verdicts

Vendor · Banker · Investor
Vendor due diligence82/100
Favourable indicators
Suitability as a supplier / customer counterparty.
  • Statutory record is clean.
  • No distress signals on file.
  • Financial filings available for verification.
Banker assessment44/100
Enhanced diligence advised
Indicative lending comfort for banks, NBFCs and trade credit.
  • Debt capacity assessed from filed statements.
  • 2 open charge(s) of 1,328.00 cr already registered.
  • Compliance record supports lending.
Investor view56/100
Mixed indicators
Growth quality and scalability through an investor lens.
  • 1 growth signal(s) detected.
  • Margin and return trends computable from filings.
  • Management team looks stable.
09

MCA Filings & Events Timeline

Latest 15 events
04 Nov 2025
Charge created
The Hongkong And Shanghai Banking Corporation Limited - 25.00 cr
25 Sep 2025
Last AGM held
Annual general meeting
21 Jul 2025
Director appointed
Kunal Jindal (Additional Director)
31 Mar 2025
Latest balance sheet
Filed with ROC
19 Sep 2024
Director ceased
Manoj Kumar Sharma
05 Sep 2024
Charge satisfied
Sbicap Trustee Company Limited
23 Jul 2024
Charge created
Others - 1,303.00 cr
11 Feb 2024
Director ceased
Vani Sundaram
01 Mar 2023
Director ceased
VIKAS BANSAL
23 Feb 2023
Director ceased
KISHORE KUMAR
22 Feb 2023
Director appointed
KAPIL SHARMA (Director)
19 Apr 2022
Charge satisfied
Sbicap Trustee Company Limited
09 Mar 2022
Director ceased
NITIN VAID
31 Dec 2021
Securities allotted
615905 Equity Shares - 50.13 cr raised
29 Dec 2021
Charge satisfied
Axis Bank Limited
10

Key Observations

Auto-generated from the data above
Debt-to-equity stands at 24% - leverage worth monitoring.
Net worth is positive.
Compliance record is strong - status, filings and flags are clean.
2 active director(s) / partner(s); board looks stable and experienced.
1 active GST registration(s) indicate ongoing business operations.
Carries an external credit rating of A1 from Crisil.
Promoters hold a dominant controlling stake as per the FY 2024 annual return.
Capital has been raised through 3 security allotment(s) - amounts available in the full report.
11

Peers & Related Companies

Full peer comparison →
CompanyCINLocation
Rachna Art Prints Private Limited U17119GJ1977PTC003021 Surat, Gujarat, India
Gujarat State Energy Generation Limited U40100GJ1998SGC035212 Gandhinagar, Gujarat, India
Remcl U93000DL2013GOI256661 Delhi, Delhi, India
Pixon Green Energy Private Limited U29309GJ2019PTC111209 Paddhari, Gujarat, India
Serentica Renewables India Private Limited U74110HR2014PTC101972 Palam Road, Haryana, India
Alpatarupower U40109GJ2015PLC095114 Ahmedabad, Gujarat, India
Blue Ocean Biotech Private Limited U15122AP2011PTC072343 Peddapuram, Andhra Pradesh, India
Susten U74990MH2010PTC207854 Mumbai, Maharashtra, India
12

Who Uses This Report

CA · CS · Banker · Investor · Vendor
Chartered Accountants (CA)

Verify Azurepower before audits and certifications: compliance score 82/100, filing history, auditor history and charge records in one place - instead of pulling each MCA form separately.

Company Secretaries (CS)

Track statutory health of Azurepower: ACTIVE compliance status, annual-return recency, director DIN status, board churn and the events timeline - the inputs for secretarial audits and due-diligence certificates.

Bankers & NBFCs

Current banker verdict: Enhanced diligence advised. Credit risk score 25/100, existing charge position and lender relationships - a first-pass credit memo before formal appraisal.

Investors & Analysts

Investor view: Mixed indicators. Growth score 60/100, margin trends, ownership structure and peer set for Azurepower - screening before a deeper diligence.

Vendors & Procurement Teams

Vendor verdict: Favourable indicators. Trust score 73/100, distress signals and MSME payment-delay disclosures - know whether Azurepower pays its suppliers before you extend credit terms.

Lawyers & Compliance Teams

Litigation footprint (no cases on record), regulatory flags, charge documents trail and director networks for Azurepower - groundwork for KYC, onboarding and disputes.

13

Frequently Asked Questions

Is Azurepower an active company?

Azurepower has MCA status “Active” with a compliance score of 82/100 (Low Risk).

Is Azurepower financially healthy?

Azurepower has a Financial Health Score of 40/100 (Caution Indicated) based on its filed financial statements.

Should I do business with Azurepower?

Its overall Trust Score is 73/100 (Moderate). Vendor verdict: Favourable indicators. Review the risk flags in the Risk Intelligence Center before deciding.

Who controls Azurepower?

The ultimate holding entity is Azure Power India Private Limited. 2 active director(s) are on record.

Does Azurepower have loans or charges against its assets?

2 open charge(s) are registered against its assets, and 6 earlier charge(s) stand satisfied.

Is Azurepower up to date with its ROC filings?

Annual filings current (balance sheet Mar 2025). Overall compliance score: 82/100 (Low Risk).

Is it risky to lend to Azurepower?

Its Credit Risk Score is 25/100 (Caution Indicated). Banker verdict: Enhanced diligence advised.

Disclaimer: This report is generated automatically from MCA filings and public records as available in our system at the time of the last update. Scores, bands and verdicts are rule-based derived indicators of the underlying data - they are opinions generated by an algorithm, not statements of fact about the company, and are not credit ratings (within the meaning of SEBI regulations), audits, or investment, legal or financial advice. Verify from official sources and consult a qualified professional before any business, lending or investment decision. If you represent this company and believe any information is inaccurate or outdated, report it here and we will review promptly.