Key Metrics of Vento Power Private Limited
About Vento Power Private Limited
Company details
Company summary
Entity details
Compliance
Industry classification
Financials, ratios and risk analysis
Revenue, EBITDA, net profit, net worth, debt and assets for every filing year, 15+ ratios, the financial health score, shareholding, charges and peer comparison are part of the premium plan.
Sign in to continue See plans & pricingFiling compliance
Due dates follow the Companies Act: AGM within six months of the year end, AOC-4 within 30 days and MGT-7 within 60 days of the AGM. A filing made but not yet uploaded here shows as pending.
Vendor checks & payment capacity
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Credit ratings
PositiveUpgraded by ICRA on 18 Aug 2026 (from A-)
Rating history
Rating actions
| Date | Agency | Action | Long term | Short term | Outlook | Rated amount | Rationale |
|---|---|---|---|---|---|---|---|
| 18 Aug 2026 | ICRA | Upgraded (from A-) | A | — | Stable | ₹181 Cr | View |
Credit strengths (ICRA, Aug 2026)
+ Satisfactory generation performance and fixed-tariff PPAs provide long-term revenue visibility
The pool has demonstrated track record of healthy generation over the past few years.
+ Long-term PPAs with SECI for 83% capacity allay offtake and counterparty credit risk concerns
Of the three SPVs, JK Petro Energy Private Limited and Vento Power Private Limited have entered into long-term power purchase agreements (PPAs) with SECI for 83% of the pool’s capacity for a duration of 25 years.
+ Comfortable debt coverage metrics
The residual tenure of the PPA is more than the balance repayment tenure of all the term loans.
Credit challenges
− Offtake and tariff risks for Balsio project in the absence of PPA tie-up
GGPL’s Balsio plant currently sells power in the merchant power market, exposing it to short-term volume and tariff volatility.
− Vulnerable to variable hydrology
The generation performance of the Balsio and Taraila hydro plants remains inherently dependent on rainfall and water availability.
− Exposure to interest rate risks due to fixed nature of PPA tariffs and regulatory risk
The pool’s cash flow is affected by the variable interest rates on loans, exposing the cash generation to interest rate fluctuations.
− Cash flow susceptible to variability in solar irradiance
The company’s debt coverage metrics remain exposed to the generation level, given the one-part structure under the PPAs.
Could lead to an upgrade
The rating can be revised upwards, if the generation performance of the pool remains above the appraised estimates. A reduction in operating expenses and timely payments from the offtakers, leading to an improvement in earnings and debt coverage metrics on a sustained basis, will also support an upgrade.
Could lead to a downgrade
The rating could be under pressure if the generation performance and operating expenses deteriorate at a consolidated level, pulling down the cumulative DSCR below 1.25 times on a sustained basis. The rating can also be downgraded if there is significant d elay in realising money from the counterparties, resulting in a stretched
Agency-reported financials (ICRA, 18 Aug 2026)
| Metric | FY2024 | FY2025 | FY2026 |
|---|---|---|---|
| Operating income | ₹49.10 Cr | ₹54.90 Cr | ₹55.40 Cr |
| PAT | ₹-6.82 Cr | ₹-12.29 Cr | ₹-1.32 Cr |
| OPBDIT/OI | 81.1% | 73.4% | 72.7% |
| PAT/OI | -13.9% | -22.4% | -2.4% |
| Total outside liabilities/Tangible net worth (times) | 3.40× | 4.10× | 4.50× |
| Total debt/OPBDIT (times) | 7.30× | 7.30× | 8.00× |
| Interest coverage (times) | 1.60× | 1.20× | 1.50× |
| Revenue growth (YoY) | — | 11.8% | 0.9% |
| EBITDA (margin × income) | ₹39.82 Cr | ₹40.30 Cr | ₹40.28 Cr |
| Implied total debt (debt/EBITDA × EBITDA) | ₹291 Cr | ₹294 Cr | ₹322 Cr |
| Implied interest cost (EBITDA ÷ coverage) | ₹24.89 Cr | ₹33.58 Cr | ₹26.85 Cr |
Borrowings & rated debt
Facility mix
Maturity ladder
Rated facilities
| Facility | Type | Previous | Current | Change | Rating | Action | Agency |
|---|---|---|---|---|---|---|---|
| Term loan () | Term loans | ₹181 Cr | ₹181 Cr | 0.0% | — | Upgraded | ICRA |
Debt instruments
| ISIN | Instrument | Type | Coupon | Issued | Maturity | Amount | Rating | Status |
|---|---|---|---|---|---|---|---|---|
| — | Term loan FY FY | Term loans | — | 31 Mar 2025 | 31 Mar 2040 | ₹181 Cr | A | Outstanding |
Credit assessment · Manufacturing
Rating Methodology – Manufacturing Companies (Mar 2025) · Standalone accounts · FY 2025-26
Ratios, pillar scores and the indicative rating are part of Premium.
Rating status
| Default | No default on record |
| Issuer cooperation | Cooperating |
| Credit enhancement | None – standalone rating |
| Next action stable or better (model) | 19% |
| Information on file | 67% · missing: Capex / investment plans, Auditor details, Shareholding pattern |
Indicative assessment from public data using the published methodology factors; not a credit rating.
Borrowing & funding lifecycle
- Credit outlook model: 49% chance the next rating action is stable or better
- Current rating A (investment grade)
- Interest coverage 1.5×
Rated limits by facility
Timeline
From the report
Liquidity position: Adequate The pool’s liquidity position remains adequate with expected cash flow from operations of Rs. 44.3 crore against an annual debt repayment obligation of Rs. 36.5 crore in FY2027.
From the report
Liquidity position: Adequate The pool’s liquidity position remains adequate with expected cash flow from operations of Rs. 44.3 crore against an annual debt repayment obligation of Rs. 36.5 crore in FY2027.
From the report
Further, the liquidity is supported by free cash and cash equivalent of Rs. 10.21 crore and a DSRA of Rs. 13.27 crore as on July 31, 2026.
Lender names, bank charges and audited borrowings are part of Premium.
Built from MCA charges, ICRA/CARE rating reports and audited accounts. The borrowing view is an estimate, not a lender's credit decision.
Registered office and contact
Directors and key people
Directors are read from the MGT-7 annual return and AOC-4 signatories.
Charges (secured borrowings)
0 registered charges. Lenders, amounts and dates are part of the premium plan.
Statutory auditors
Auditors are read from the AOC-4 auditor's report section.
Business activities and related parties
Principal business activities and related-party transactions are read from MGT-7 and AOC-4 filings.
Filings
No filings on record yet.