Onix Renewable Ltd Reports Record Growth, Strengthens Leadership in India’s Clean Energy Sector – EQ
In Short : Onix Renewable Ltd. reported robust financial results for FY 2024–25, with revenue reaching ₹1,001.30 crore, up 185.8% year-on-year, and net profit surging 190.72% to ₹153.46 crore. The company expanded operations across Gujarat, Maharashtra, and Rajasthan, advanced digital monitoring systems, and focused on sustainability. Plans include hybrid and storage-based projects to support India’s net-zero and renewable energy goals.
In Detail : Onix Renewable Ltd. announced strong financial performance for the fiscal year 2024–25, reflecting its growing presence in India’s renewable energy sector. The company reported total revenue of ₹1,001.30 crore, marking a 185.8% increase compared to the previous year. Net profit rose 190.72% to ₹153.46 crore, with profit after tax (PAT) reaching ₹114.79 crore, up 191.42%.
The company expanded its operational footprint across Gujarat, Maharashtra, and Rajasthan, completing several projects under the PM-KUSUM and Solar-Wind Hybrid programs. These initiatives support India’s renewable energy objectives and promote access to clean electricity in rural areas. Onix also strengthened project execution through enhanced operational and maintenance systems.
Onix Renewable advanced its digital transformation, incorporating AI-enabled monitoring and smart data analytics. This improved operational safety, ensured 24×7 project oversight, and optimized maintenance efficiency. By leveraging technology, the company achieved higher performance, reduced downtime, and improved long-term asset reliability across its renewable energy portfolio.
Chairman and Managing Director Divyesh Savaliya credited the growth to the company’s focus on innovation, sustainability, and community development. He emphasized Onix Renewable’s commitment to expanding its renewable footprint and generating long-term value for stakeholders. The company aims to combine profitability with environmental and social responsibility.
Looking ahead, Onix plans to scale its renewable capacity through hybrid solar-wind projects and energy storage solutions. Strategic partnerships will support the acceleration of India’s energy transition and the achievement of net-zero targets. The company is exploring opportunities to diversify its offerings and integrate emerging renewable technologies.
Onix Renewable continues aligning its operations with the United Nations Sustainable Development Goals (SDGs). Initiatives include carbon emission reduction, rural empowerment, and local employment generation. Through its renewable projects, the company has successfully reduced carbon emissions and strengthened sustainable practices in its areas of operation.
The company’s strong financial results and strategic initiatives position it as a significant contributor to India’s clean energy mission. Onix Renewable remains focused on consistent performance, efficient project execution, and portfolio expansion while maintaining its commitment to sustainability and technological innovation.
Founded in 2007 and headquartered in Rajkot, Gujarat, Onix Renewable operates across renewable energy, electrical manufacturing, and civil engineering sectors. The company provides solar modules, wind turbines, hybrid power systems, and other electrical solutions, combining technological expertise with local knowledge to deliver efficient and reliable energy solutions across India.
Overall, Onix Renewable’s performance demonstrates its leadership in the renewable energy sector. With continued focus on innovation, sustainability, and operational excellence, the company is well-positioned to expand its clean energy portfolio, support India’s net-zero goals, and contribute to economic growth while delivering long-term value to communities and stakeholders.
