Jaipur-based Ultravibrant Integrated Energy Limited (UVIEL) has transformed from a solar project management company into a full-scale, end-to-end renewable energy solution provider—a strategic evolution clearly reflected in its strong financial growth.
Seven years since its incorporation as Ultravibrant Solar Energy Private Limited on 24 June 2019, Ultravibrant Integrated Energy Limited (UVIE) has evolved into a growing renewable energy company with an expanding presence across the sector. Headquartered in Jaipur, Rajasthan, the company has recorded significant growth in its operations, with revenue from operations increasing from approximately ₹34 crore in FY 2023–24 to ₹383.99 crore in FY 2025–26, according to figures shared by the company. This growth reflects UVIE’s transition towards larger-scale project execution and its expanding capabilities in the renewable energy sector.
The numbers reflect UVIE’s deliberate evolution towards a larger, execution-led business model. In FY 2023–24, the company expanded its presence in the solar sector by entering the PM-KUSUM programme, with a focus on solarisation projects, while continuing its project management and consultancy activities. During the year, UVIE commissioned 10.62 MWp across 17 projects, establishing a foundation for scaling up its EPC capabilities.
Over the next two years, UVIE progressively transitioned towards large-scale turnkey Solar EPC execution, taking responsibility for projects from engineering and procurement through construction and commissioning. This shift translated into a significant increase in execution scale, with annual commissioning reaching 149.27 MWp across 57 projects in FY 2025–26.
The transition was also reflected in the company’s financial performance. As the EPC business gained scale, UVIE recorded revenue of ₹244.09 crore in FY 2024–25, demonstrating the growing contribution of its execution-led business model.
Profitability has strengthened alongside the company’s expanding scale of operations. Operating EBITDA increased from ₹2.17 crore in FY 2023–24 to ₹56.75 crore in FY 2025–26, while the operating EBITDA margin improved from 6.38% to 14.78% during the same period. Profit after tax (PAT) rose from ₹1.60 crore to ₹33.39 crore, reflecting a significant improvement in overall financial performance. The company attributes this growth to larger project awards, the expansion of its turnkey EPC portfolio and improved operational efficiencies as it continues to scale its renewable energy operations.
The PM-KUSUM programme has emerged as an important growth driver for UVIE, strengthening both its Solar EPC order book and its Independent Power Producer (IPP) portfolio. The programme, which supports the solarisation of agricultural pumps and feeders to enable reliable daytime power supply to farmers and rural communities, has enabled UVIE to expand its participation in projects under the RESCO/BOOT model.
Over the past 18 months, As part of our IPP business strategy, we intend to selectively monetise certain operational solar projects following commissioning and operational stabilisation, subject to applicable contractual restrictions, regulatory approvals and market conditions . At the same time, the company has significantly expanded its own operational IPP portfolio, with capacity increasing from 1.70 MW (AC) as of 31 March 2025 to 27.25 MW (AC) as of 31 March 2026. UVIE’s current operational renewable energy asset base stands at 31.25 MW (AC)/39.90 MWp (DC) across 14 plants, reflecting the company’s growing presence as both an EPC solutions provider and a renewable energy asset owner.
Revenue from Operations & Maintenance (O&M), Installation & Commissioning (I&C), and Consultancy Services nearly doubled from ₹6.32 crore in FY 2024–25 to ₹12.59 crore in FY 2025–26, reflecting the growing contribution of service-led business streams.
As of 31 August 2026, UVIE’s O&M portfolio covered 116.23 MWp across 31 projects, in addition to O&M services for its own operational renewable energy asset base of 39.90 MWp across 14 projects. Going forward, the company aims to further strengthen its recurring revenue base by expanding its O&M portfolio, service offerings and portfolio of operational renewable energy assets, creating a more diversified and sustainable revenue mix.
UVIE has built a growing execution footprint across India, supported by an expanding portfolio of utility-scale, rooftop solar and IPP projects. The company has delivered 201.46 MWp of grid-scale ground-mounted Solar EPC capacity across 65 projects and commissioned 25.75 MWp of rooftop solar capacity across 112 projects.
UVIE’s project experience spans Rajasthan, Telangana, Gujarat, Haryana and Maharashtra, with additional projects awarded in Karnataka and IPP assets across Rajasthan, Leh-Ladakh and Uttar Pradesh. The company currently serves 65 clients and has developed an ecosystem of more than 400 growth partners, comprising suppliers, channel partners, business partners and joint venture partners, including Quant Solar and Jayram Industries Private Limited.
Supporting this expanding footprint is a team of over 180 permanent employees across UVIE, its subsidiaries and associate company, strengthening the company’s capabilities in project development, engineering, execution, operations and asset management.
Ultravibrant Integrated Energy Limited (UVIE) is led by Rajeshwer Singh, Chairman & Managing Director, an electrical engineer from MBM Engineering College, Jodhpur, with over 18 years of experience in the energy and infrastructure sector. Over the course of his professional career, he has been associated with leading organisations including Delhi Transco Limited, Sterling and Wilson Limited, PR Fonroche Private Limited, and Mahindra EPC Services Private Limited. His industry experience and leadership have been instrumental in shaping UVIE’s evolution and expanding its capabilities across the renewable energy value chain.
Recognising renewable energy as a strategically important growth sector, Rajeshwer Singh founded UVIE with a vision to accelerate India’s clean energy transition through reliable and integrated renewable energy solutions.
In 2026, UVIE expanded into Battery Energy Storage Systems (BESS) through its associate M/s Lithina Energy Solutions Private Limited. The company has also been awarded an LOA for a 50 MW/200 MWh BESS IPP project, further strengthening its presence across the renewable energy value chain.
Looking ahead, UVIE is targeting annual revenue of over ₹1,500 crore within the next two to three years, driven by its growing order book, BOOT-based IPP portfolio, Solar EPC, BESS, and expansion into transmission and distribution infrastructure. Having already filed its DRHP with SEBI, the company’s longer-term vision is to being a listed, professionally governed renewable energy enterprise and achieve unicorn status by 2032.
UVIE is headquartered at Malviya Nagar Industrial Area, Jaipur.
