Startup Originals Team
Ksquare Energy, a solar company from Gujarat founded in 2017 by Kuldeep Sorathiya (with support from his brother Kalpesh), has achieved remarkable growth. Bootstrapped and non-listed, the company earned about ₹74 crore in revenue in 2023-24 and is targeting ₹1,000 crore by 2030. Their mission: deliver rooftop solar solutions in rural and urban India while keeping things simple, reliable, and impactful.
What Ksquare Energy Does
- Residential Rooftop Solar (B2C): They install rooftop solar systems for homes. This includes handling registration under government programmes like PM Surya Ghar Muft Bijli Yojana. Many of their systems generate electricity and also export surplus to the grid.
- Solar-Products Supply (B2B): Ksquare supplies solar panels, inverters, cables, and custom power distribution components (DCDB/ACDB), offering 70-80 product variants across 15-20 SKUs. They serve over 1,500 EPC (Engineering, Procurement, Construction) clients across 23 states.
What Makes Them Stand Out
- They offer a 5-year Zero Loss Guarantee: If a solar system is non-functional for more than 48 hours, Ksquare compensates the customer for the lost generation. This level of accountability is rare in the solar installations space.
- Strong service processes: free site visit, feasibility checks, quick delivery of materials (3-4 days after payment), installation, and setting up bidirectional meters so both consumption and surplus production are tracked. Post-installation support ensures ongoing system performance.
How the Journey Began
- Kuldeep Sorathiya grew up in a farming family from Amreli district in Gujarat. They had debts and modest income. He did his schooling locally, then earned a BE in Electrical Engineering.
- In 2017, after a failed attempt to get a loan for studying abroad (due to financial and documentation issues), Kuldeep launched Ksquare Energy with ₹15,000 from a small rented room (~150 sq ft). He handled everything himself: sales, logistics, accounting.
- Initial growth was slow: as a middleman, then gradually building credibility and customer base. Over time, he expanded the team, built operations, added geographical reach.
Future Vision & Ambition
- They aim to reach ₹1,000 crore in annual revenue by 2030.
- Plan to expand service coverage across all Indian states, increase fulfillment centres (8 noted), and deepen presence in more cities, urban and rural alike.
- Also, doubling workforce yearly and creating employment is part of their mission, not just profit but social and economic impact.
Challenges & What’s Key Going Forward
- Maintaining quality while scaling quickly. With expansion across many states, logistics, supply chain, customer service have to keep up.
- Managing cash flow and profitability, especially as operations grow, material costs fluctuate, and installations require after-sales support.
- Staying ahead in technology and reliability: customers expect durability, minimal downtime. Guarantees like “zero loss” promise build trust but also risk.
Conclusion
Ksquare Energy’s story is a powerful example of bootstrapped growth in India. From ₹15,000 and a small rented room, Kuldeep Sorathiya has built a solar company doing ₹74 crore in revenue, profitable and expanding. With clear vision and strong execution, Ksquare aims to touch ₹1,000 crore by 2030, lighting up homes and lives across India.
