Climate-tech firm Ecozen delivered a sharp improvement in financial performance in FY25, with revenue jumping 2.5X year-on-year and profit rising close to ₹100 crore, driven by strong demand for its solar-powered cold chain and irrigation solutions.
According to its consolidated financial statements filed with the Registrar of Companies (RoC), Ecozen’s revenue from operations climbed to ₹1,150 crore in FY25 from ₹458 crore in FY24. The Pune-based company builds climate-smart solutions using motor controls, IoT, and energy storage technologies powered by solar energy. Its key products include Ecotron (solar pump controller), Ecofrost (solar cold storage), solar air conditioners, and solar panels.
Sales of solar and related products contributed nearly 77% of total collections, which increased 2.3X to ₹889 crore during the year. Revenue from installation of solar pumping systems and other services rose 23% to ₹261 crore in FY25.
On the cost side, material costs remained the largest expense, accounting for 64% of total expenditure, and surged to ₹662.5 crore from the previous year. Contract costs rose over threefold to ₹169 crore, while employee benefit expenses increased 58% to ₹49 crore. After sales service, warranty claims, and other overheads together stood at ₹118 crore in FY25.
Overall, total expenses rose 2.4X to ₹1,038 crore from ₹439.5 crore in FY24. Despite the sharp rise in costs, Ecozen’s profit jumped nearly fivefold to ₹95 crore in FY25 from ₹20 crore a year earlier. The company reported an ROCE of 28.92% and an EBITDA margin of 13.17% for the year.
At the unit level, Ecozen spent ₹0.90 to earn every rupee of operating revenue. Its current assets stood at ₹831 crore at the end of FY25, including cash and bank balances of ₹228 crore, compared to ₹96 crore in FY24.
Ecozen has raised over $76 million through a mix of equity and debt so far, with Nuveen Global and Omnivore among its lead investors. The company is currently in the process of raising an additional ₹95 crore in debt funding from Momentum Capedge Limited.
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