Results · Climate, Energy & Sustainability

Ecozen reports strong FY25 financial results

By Startup Enthusiast · 8 January 2026

What they do

Ecozen makes solar cold storage and irrigation products for farmers

Revenue grew 2.5x to Rs 1,150 Cr with profit rising nearly 5x to Rs 95 Cr

The company holds Rs 228 Cr in cash and plans to raise debt

Ecozen reported Rs 1,150 Cr revenue for FY25, up from Rs 458 Cr in FY24.
Profit surged to Rs 95 Cr, nearly five times the Rs 20 Cr earned in FY24.
Product sales collections reached Rs 889 Cr, representing 77% of total revenue.
Service and installation revenue contributed Rs 261 Cr to the top line.
Total expenses increased 2.4x to Rs 1,038 Cr due to higher material and contract costs.
Material costs rose 2x to Rs 662.5 Cr, while contract costs grew over 3x.
Employee benefits expense increased by 58% to Rs 49 Cr during the fiscal year.
The company maintains a healthy ROCE of 28.92% and EBITDA margin of 13.17%.

Strong growth signals high demand for solar-powered agricultural infrastructure.
Cash reserves doubled, providing liquidity for future expansion plans.

Nuveen Global (lead) — Global investment firm focused on sustainable infrastructure.
Omnivore (lead) — Venture capital firm investing in deep tech and agri-tech.

Product: Solar-powered systems including water pumps, cold storage, air conditioners and rooftop panels.
Customers: Small and marginal farmers, with broader climate-tech customers as the business scales.
How it makes money: Sells solar-powered hardware and related climate-tech products, supported by debt-financed working capital and scale-up.
What sets it apart: Combines solar power with core technology stacks such as motor controls, IoT and energy storage.
Operations: Manufactures and deploys solar pump controllers and other climate-smart systems from Pune.