Saatvik Green Energy LimitedQ1 FY27 Results & Financial Update
Saatvik Green Energy Limited: Q1 FY27 consolidated results and company financials – revenue ₹2.93 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
Quarter at a glanceCurrent reported figures.Change figures appear when a comparable reported period is available.
Find an answer
Ask this result
Chart · Market context
Saatvik Green Energy price & chart
Market price₹405.30
1Y return—Price return
Loading market chart…
TradingView Lightweight Charts™ · Copyright © 2025 TradingView, Inc.TradingView
Market chartPrice chart temporarily unavailableThe price chart could not be loaded right now. The reported financial results remain available above.
Spotted a factual error?Tell us the number, date or statement and we will re-check the underlying records and calculations.Report an error
Quarterly Results AnalysisExplore Saatvik Green Energy Q1 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
During Q1 FY27, Saatvik Green Energy reported consolidated revenue from operations of ₹5,110.10 million and total income of ₹5,197.30 million. Profit before tax stood at ₹74.07 million, resulting in a profit after tax of ₹53.63 million.
Earnings per share for the quarter were reported at ₹0.43 on a basic and diluted basis, while consolidated EBITDA reached ₹425.00 million, reflecting an EBITDA margin of 8.33% for the period.
The operational performance was underpinned by steady order execution and ongoing progress on the company's multi-phase manufacturing expansion, particularly at the Gopalpur integrated industrial park in Odisha.
Management highlighted robust forward visibility supported by a confirmed order book of approximately 6.35 GW, equivalent to about 132% of current installed module capacity.
Financial discipline remained a key focus, with the consolidated debt-to-equity ratio improving to 0.99x as of June 30, 2026, compared with 1.28x in Q1 FY26.
During the quarter, the company also expanded its corporate footprint by acquiring an 80% stake in Melcon Transformers and Electricals Private Limited for ₹24.00 million, adding power transmission and distribution equipment capabilities to its portfolio.
Revenue from operations was ₹2.93 Cr for the reported quarter. EPS was ₹0.43 for the reported quarter.
01 · Business model
What does Saatvik Green Energy do?
Saatvik Green Energy Limited is an integrated solar energy solutions provider operating across the solar photovoltaic value chain, specializing in the manufacture of high-efficiency solar PV modules, engineering, procurement, and construction (EPC) services, solar water pumping systems, and inverters.
The company operates an established manufacturing base in Ambala, Haryana, with an installed solar module manufacturing capacity of 4.8 GW and an operational encapsulant facility of 2 GW, alongside active expansion into a greenfield integrated hub in Odisha.
Saatvik serves a diverse client base spanning utility-scale developers, commercial and industrial (C&I) rooftop clients, agricultural applications via solar pumps, and residential consumers through distributed solar kits and hybrid inverter offerings.
Its economic model combines high-volume module production with ongoing backward integration into solar cells, ingots, and wafers, capturing margin expansion opportunities under India's evolving ALMM regulatory frameworks and rising renewable energy adoption targets.
02 · Historical context
What shaped the business before this quarter
The company completed its initial public offer of 19,359,079 equity shares at an issue price of ₹465 per share, raising ₹7,000 million in fresh capital alongside an offer for sale, with shares listing on NSE and BSE on September 26, 2025.
Effective March 31, 2026, the group transitioned its inventory valuation method for raw materials, finished goods, and work-in-progress from FIFO to the moving weighted average cost method to better reflect actual cost flows and peer comparability.
03 · Financial snapshot
Current-quarter financial snapshot
| Metric | Q1 FY27 |
|---|---|
| Revenue from operations | ₹2.93 Cr |
| EPS | ₹0.43 |
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
Revenue during Q1 FY27 was primarily driven by the deployment of solar photovoltaic modules from the company's 4.8 GW manufacturing capacity based in Ambala, Haryana.
Steady execution across utility-scale and commercial projects enabled the company to maintain active billings against its extensive order backlog.
What drove margins
Cost of materials and services consumed stood at ₹5,267.43 million for the quarter, reflecting raw material pricing dynamics and manufacturing overheads during a transitional capacity expansion phase.
Finance costs were reported at ₹217.35 million and other expenses at ₹511.61 million, impacting profitability as the company invests ahead for integrated cell and module production lines.
05 · Demand, customers & order book
Where demand is coming from
Additional major order wins secured subsequent to the quarter-end—including a ₹138.00 crore domestic order in July 2026 and ₹400.16 crore in August 2026—further bolstered order backlog and execution timelines extending into calendar year 2027.
06 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
The Chief Operating Decision Maker reviews the group's performance and allocates resources based on an overall assessment of the business as a single operating segment comprising solar PV modules, transformers, EPC services, solar water pumping systems, and inverters.
Geography and market mix
The company continues to expand its customer base across domestic utility and C&I markets while pursuing international opportunities supported by its ALMM-ready product portfolio.
07 · Capacity, projects & execution
What is being built, commissioned or delivered
Capacity, production and utilisation
At the Gopalpur integrated manufacturing campus in Odisha, tool movement, assembly, and electrical preparations for the 2.4 GW cell line and 4 GW module line progressed toward ramp-up, with ALMM-II inspection planned for September 2026.
Projects, capex and execution
Phase-II planning targets an additional 3.6 GW of cell manufacturing capacity on an adjacent 27-acre land parcel, taking total cell capacity to 6 GW, with site activities slated to start by the end of Q2 FY27 and completion targeted by FY28.
Initial project planning has commenced for Phase-III, envisioning 6 GW of ingot and wafer manufacturing capacity aligned with the anticipated ALMM-III transition by FY29.
08 · Strategy & new businesses
How the company is trying to change its growth mix
The company launched the Saatvik SuryaConnect Solar Kit for residential and commercial applications and the UDAY Plus Hybrid Inverter combining solar with battery backup, alongside expansion in transformers, BESS, and solar pumps.
During the quarter, the holding company acquired an 80% equity stake in Melcon Transformers and Electricals Private Limited for ₹24.00 million, with a deferred consideration of ₹20 million for the remaining 20% stake, establishing Melcon as a subsidiary.
09 · Reported developments
What changed operationally
Saatvik was recognized as 'Brand of the Year' at the India Power & Renewable Leadership Awards 2026 and received the Golden Peacock Occupational Health & Safety Award 2026, maintaining zero lost-time injuries for two consecutive years.
10 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
Out of total net fresh issue proceeds of ₹5,111.48 million utilized up to June 30, 2026, ₹2,957.93 million was deployed toward setting up the 4 GW module facility in Odisha, ₹1,664.36 million toward subsidiary debt repayment, and ₹100.07 million toward parent debt repayment.
Unutilized IPO proceeds amounting to ₹1,888.52 million as of June 30, 2026, are temporarily invested in fixed deposits of scheduled commercial banks in the monitoring agency account.
11 · Beyond the numbers
What changed beyond the numbers
Reported update
Workplace Certification
The company maintained its Great Place To Work certification for 2026-2027 and achieved an EcoVadis Bronze Medal placing it in the 79th global percentile for sustainability practices.
12 · Key Q&A
The quarter, answered directly
What does Saatvik Green Energy do?
Saatvik Green Energy Limited is an integrated solar energy solutions provider operating across the solar photovoltaic value chain, specializing in the manufacture of high-efficiency solar PV modules, engineering, procurement, and construction (EPC) services, solar water pumping systems, and inverters.
What is the clearest takeaway from Q1 FY27?
During Q1 FY27, Saatvik Green Energy reported consolidated revenue from operations of ₹5,110.10 million and total income of ₹5,197.30 million. Profit before tax stood at ₹74.07 million, resulting in a profit after tax of ₹53.63 million.
What drove revenue or demand?
Revenue during Q1 FY27 was primarily driven by the deployment of solar photovoltaic modules from the company's 4.8 GW manufacturing capacity based in Ambala, Haryana.
What mattered most for margins or profitability?
Cost of materials and services consumed stood at ₹5,267.43 million for the quarter, reflecting raw material pricing dynamics and manufacturing overheads during a transitional capacity expansion phase.
What changed operationally beyond the headline numbers?
At the Gopalpur integrated manufacturing campus in Odisha, tool movement, assembly, and electrical preparations for the 2.4 GW cell line and 4 GW module line progressed toward ramp-up, with ALMM-II inspection planned for September 2026.
What should the next disclosure help confirm?
Track the initiation of site activities for Phase-II cell expansion (3.6 GW capacity addition) targeted by the end of Q2 FY27.
13 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
Starting point
Build your own next-quarter scenario
Reported values are prefilled where a comparable basis is available. Otherwise, the field starts at 0. You can overwrite every field.
Example: enter 10 for 10% revenue growth. Enter -100 for a 1 percentage-point margin decline.
Scenario output
Scenario revenue / income₹0 cr
Scenario operating profit₹0 cr
Profit change vs base₹0 cr (0%)
Scenario margin0%
Growth needed to keep profit flat after this margin move0%
The calculator holds the selected margin basis constant except for the basis-point adjustment you enter. It does not estimate tax, finance cost, dilution, working capital, valuation or share price.
14 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Phase 2 Site Commencement: Track the initiation of site activities for Phase-II cell expansion (3.6 GW capacity addition) targeted by the end of Q2 FY27.
Learn the metrics
Need the concepts first?
Use Nivata’s plain-English guides to understand the accounting terms used in this brief before interpreting them.