Synopsis:
Saatvik Green Energy Limited, along with its subsidiary Saatvik Solar Industries Private Limited, has secured orders worth Rs.689.47 crore from leading Independent Power Producers for the supply of solar PV modules.
The shares of a small-cap company that manufactures solar modules and offers EPC services saw increased investor interest after it received orders worth Rs.689.47 crores.
With a market capitalization of Rs.6,666.66 crores, the shares of Saatvik Green Energy Limited were trading at Rs. 526.10, hitting an intra-day high of Rs.580, down 0.93 percent from its previous day’s closing price of Rs. 531.05.
Orders
Saatvik Green Energy Limited and its subsidiary, Saatvik Solar Industries Private Limited, have received repeated orders worth Rs.689.47 crores from a renowned Independent Power Producers for supplying solar PV modules.
Saatvik Green Energy Limited is expected to execute the order by November 2025, and Saatvik Solar Industries Private Limited is expected to execute the order by June 2026.
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About the Company
Saatvik Green Energy Limited is a solar PV module manufacturer with an operational capacity of 3.8 GW as of June 30, 2025. The company produces Mono PERC and N-TopCon modules in both mono-facial and bifacial types, suitable for residential, commercial, and utility-scale projects.
In addition, it provides EPC, installation, and maintenance services for rooftop and ground-mounted solar projects. As of Q1FY26 order book of the company stands at 4.05GW.
Over the years, its revenue mix has shifted from Mono PERC modules, now contributing 18.8 percent of the revenue, to N-TopCon modules which is contributing 78.27 percent of sales.
In Q2FY26, the company has already added 1.00 GW of production capacity at its Ambala facility. It also plans for expansion in Odisha to add 4.00 GW of solar module capacity, expected to be operational within the same year.
For FY27, the company plans to set up a new 4.80 GW cell manufacturing plant in Odisha, which is expected to start operations during FY27.
The company’s revenue increased from Rs.246 crore in Q1FY25 to Rs.916 crore in Q1FY26, and its net profit grew from Rs.21 crore to Rs.119 crore over the same period. It has a return on equity of 94.1 percent and a return on capital employed of 52.3 percent. The company’s P/E ratio is 31.11, which is lower than the industry average of 39.21.
Written by Jhanavi Sivakumar
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