Saatvik Green Energy Limited (SGEL) has announced a significant business development for its material subsidiary, Saatvik Solar Industries Private Limited. The company has secured a substantial contract worth ₹177.50 crore for the supply of solar photovoltaic (PV) modules.

Contract Details

The contract, awarded by a renowned Independent Power Producer/EPC (Engineering, Procurement, and Construction) player, represents a major milestone for Saatvik Green Energy. Here are the key details of the agreement:

Significance of the Contract

This order is particularly noteworthy for several reasons:

1. Market Position: The contract reinforces Saatvik Green Energy's position in the solar energy sector, highlighting the company's capability to secure large-scale projects.

2. Revenue Boost: With a value of ₹177.50 crore, this contract is expected to significantly contribute to the company's revenue stream.

3. Domestic Growth: The contract, being awarded by a domestic entity, underscores the growth of India's solar energy market and Saatvik's strong presence within it.

4. Execution Timeline: The execution period (November to December 2025) demonstrates the company's production and delivery capabilities.

Company Disclosure

In compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Saatvik Green Energy Limited has formally disclosed this development to the stock exchanges. The company has confirmed that:

• This contract does not fall under related party transactions
• There is no interest from the promoter or promoter group in the entity awarding the contract

This latest contract win by Saatvik Solar Industries Private Limited, a material subsidiary of Saatvik Green Energy Limited, reflects the company's continued growth in the solar energy sector. As the demand for renewable energy solutions continues to rise, such contracts position SGEL favorably in the competitive market landscape.

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.