Saatvik Green Energy secures ₹639-crore solar module orders

Saatvik Green Energy informed the exchanges that its material subsidiary, Saatvik Solar Industries, has received and accepted orders worth ₹638.85 crore for the supply of solar PV modules.The orders were placed by three independent power producers and EPC companies and are scheduled to be executed by June 2026.

The company recently released its first quarterly result after its listing on September 26.

For the June quarter, Saatvik Green’s revenue more than tripled to ₹915.7 crore from ₹245.9 crore during the same quarter last year.Its Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) increased more than five-fold on a year-on-year basis to ₹176.9 crore. EBITDA margin improved to 19.77% from 16.5%.

However, on a sequential basis, revenue remained flat, EBITDA increased by 17.1%, while margins in the previous quarter were at 16.4%.

In an interaction with CNBC-TV18, Saatvik Green Energy’s Managing Director Manik Garg said that the focus remains on growth but also on improving the margin profile. Garg said that margin remaining between the 16% to 17% range will be realistic.

Shares of newly listed Saatvik Green Energy Ltd. ended 1.74% higher at ₹536 on Tuesday. The stock has rallied 22% over the past month.