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Ecozen’s profit nears Rs 100 Cr in FY25; revenue jumps 2.5X

EntrackrEntrackr · 2m ago
Ecozen’s profit nears Rs 100 Cr in FY25; revenue jumps 2.5X
Medial

Ecozen, a climate-tech firm focused on solar-powered cold chain and irrigation solutions, delivered a strong financial performance in FY25, recording 2.5x year-on-year growth. Moreover, the company’s profits surged nearly fivefold during the same period. Ecozen’s revenue from operations rose 2.5X to Rs 1,150 crore in FY25 from Rs 458 crore in FY24, according to its consolidated annual financial statements filed with the Registrar of Companies (RoC). Ecozen provides climate smart solutions built on core technology stacks such as motor controls, IoT, and energy storage, leveraging solar power. The company’s key products include Ecotron (solar pump controller), Ecofrost (solar cold storage), solar AC, solar panels. The sale of solar and related products accounted for 77% of its collections, which rose 2.3x to Rs 889 crore in FY25. The rest of the income came from the installation of a solar pumping system and other services; this revenue rose by 23% to Rs 261 crore during FY25. On the expense front, the cost of materials remained the largest cost element, forming 64% of the total spend. This cost surged 2X to Rs 662.5 crore in FY25 from. Contract costs ballooned over 3X to Rs 169 crore, while employee benefit expenses grew 58% to Rs 49 crore during the year. After sales service expense, warranty claim expense, and other overheads climbed to Rs 118 crore during FY25. Overall, total expense spiked 2.4x to Rs 1,038 crore in FY25 from Rs 439.5 crore in FY24. With the 2.5X growth in FY25, the profits for the Pune-based firm shot up by nearly 5x to Rs 95 crore in FY25 from Rs 20 crore in FY24. During the previous fiscal, its ROCE and EBITDA margin improved to 28.92% and 13.17%, respectively. On a unit level, Ecozen spent Rs 0.90 to earn a rupee in FY25. The company’s current assets were worth Rs 831 crore at the end of FY25, including cash and bank balances of Rs 228 crore, up from Rs 96 crore in FY24. According to TheKredible, Ecozen has raised over $76 million to date through a mix of debt and equity. Nuveen Global and Omnivore are the company’s lead investors. The company is in the process of raising Rs 95 crore (approximately $10.7 million) in debt funding from Momentum Capedge Limited.

Ecofy raises Rs 380.5 Cr in Series B round led by BII and Finnfund

EntrackrEntrackr · 17d ago
Ecofy raises Rs 380.5 Cr in Series B round led by BII and Finnfund
Medial

Ecofy, a non-banking financial company focused on climate change solutions, has raised Rs 380.5 crore (approximately $42 million) in a Series B equity round co-led by British International Investment and Finnfund, with participation from existing investors Eversource Capital and FMO. Entrackr had exclusively reported this development a week ago. The company had earlier raised Rs 90 crore in equity funding in January 2024 from FMO and later secured around Rs 110 crore through a long-term loan facility (debt) from Denmark’s Investment Fund for Developing Countries (IFU) in March 2025. The fresh funds will be deployed for expansion across rooftop solar, electric vehicles, and SME financing, underpinned by a strengthened balance sheet, experienced leadership, robust governance frameworks, and a high-performance, purpose-driven operating culture, Ecofy said in a press release. Co-founded in 2022 by Rajashree Nambiar and Govind Sankaranarayanan, Ecofy provides financing for economically sustainable climate initiatives, including electric vehicles (EVs), rooftop solar systems, energy-efficient equipment, energy storage, e-mobility, waste recycling, and water management, among others. Ecofy aims to be a catalyst in accelerating the transition toward a net-zero carbon world. It partners with individuals and small businesses seeking to reduce their carbon footprint and restore balance to the planet. The company plans to enter its next phase of growth by scaling high-quality retail green lending in partnership with banks and financial institutions. On the financial front, Ecofy’s revenue from operations surged 4.8X to Rs 93.3 crore in FY25 from Rs 19.19 crore in FY24. At the same time, its losses increased by 15.6% to Rs 42.28 crore. Over the past three years, Ecofy claims to have served more than 1,20,000 customers across rooftop solar, electric vehicles, and other sustainable asset categories. The company has grown its assets under management (AUM) to over Rs 1,400 crore, supported by a 100% retail loan book, partnerships with more than 100 OEMs and over 23 banks and financial institutions, strong asset quality, and a capital adequacy ratio of approximately 50% following the fundraise.

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