Saatvik Green Energy Limited, a leading player in India's solar manufacturing sector, has reported robust financial results for the second quarter and first half of FY26, showcasing significant growth and operational progress.

Strong Financial Performance

The company demonstrated impressive financial growth in H1 FY26:

For Q2 FY26 alone, Saatvik Green Energy reported:

• Revenue: ₹7,680.00 million (up 62% year-on-year)
• PAT: ₹832.00 million (36% increase over the same period last year)

Operational Highlights

• The company's Ambala facility is now fully operational with an annual capacity of 4.8 gigawatts.
• Capacity utilization at the Ambala facility exceeded 83% during Q2.
• The order book remains healthy at approximately 4.68 gigawatts as of September 30, 2025.

Expansion and Future Outlook

Saatvik Green Energy is making significant progress on its expansion plans:

• The Greenfield integrated project in Odisha, comprising 4 gigawatt module and 4.8 gigawatt solar cell capacity, is progressing on schedule.
• First phase commissioning of the Odisha project is expected in Q4 FY26.
• Post-quarter closure, the company's subsidiary received new domestic orders worth approximately ₹2,994.00 million from three independent power producers and EPC players, for execution between December 2025 and March 2026.

Financial Position

The company's financial position has strengthened considerably:

• Debt-to-equity ratio improved to 0.44 from 1.36 in the previous year.
• Return on capital employed for FY26 stood at 21.85%.

Management Commentary

Prashant Mathur, CEO of Saatvik Green Energy, commented on the results: "Q2 and H1 FY '26 have been among the strongest periods in Saatvik's history, reflecting the company's solid execution, strong demand environment, and disciplined financial management."

He added, "Our consistent focus on high-efficiency modules, technological excellence, and dependable delivery timelines continues to differentiate Saatvik in an increasingly competitive market."

Industry Outlook

The management expressed optimism about the industry's future, citing supportive government policies and growing energy demand. They highlighted initiatives like the target of achieving 500 gigawatt of non-fossil fuel capacity by 2030 and schemes such as PM Surya Ghar Muft Bijli Yojana, PM KUSUM, and the CPSU Scheme Phase‐II as key drivers for the domestic solar manufacturing sector.

Saatvik Green Energy Limited appears well-positioned to capitalize on the growing opportunities in India's renewable energy landscape, with its expanding manufacturing capabilities and strong financial performance.

Saatvik Solar, a leading player in India's solar energy sector, has announced plans to expand its module manufacturing capacity to 5 GW by FY27. This strategic move aims to strengthen the company's position in both domestic and export markets, with a particular focus on rooftop solar solutions.

Expansion Plans

The company's growth strategy includes:

• Increasing module manufacturing capacity to 5 GW by FY27
• Strengthening presence in export markets
• Expanding offerings in rooftop solar solutions
• Investing in backward integration for cell manufacturing
• Focusing on sustainable technologies

Saatvik Solar's expansion plans align with India's push for renewable energy self-reliance and the growing global demand for solar products.

Recent Order Wins

Saatvik Solar Industries Private Limited, a material subsidiary of Saatvik Green Energy Limited, has secured new orders worth INR 299.40 crore. These orders, received from three renowned Independent Power Producers (IPPs) and EPC players, are for the supply of solar PV modules.

Key details of the orders include:

This substantial order inflow demonstrates the industry's confidence in Saatvik Solar's products and capabilities.

Financial Targets

The company aims to double its revenue over the next three years. This growth is expected to be driven by:

• Production of premium solar modules
• Strategic EPC partnerships
• Expansion into new markets

Market Outlook

Saatvik Solar's expansion plans come at a time when the Indian solar industry is experiencing rapid growth. The company's focus on high-efficiency modules and sustainable technologies positions it well to capitalize on the increasing demand for renewable energy solutions both in India and globally.

As the solar energy sector continues to evolve, Saatvik Solar's strategic initiatives in capacity expansion, technological advancement, and market diversification may play a crucial role in shaping its future growth trajectory and contribution to India's renewable energy goals.