Saatvik Green Energy subsidiary secures ₹44 crore solar PV module order

Solar PV module manufacturer, Saatvik Green Energy Ltd, on Tuesday (February 17), said its material subsidiary, Saatvik Solar Industries Private Ltd, has received and accepted orders aggregating to ₹44.10 crore for the supply of solar photovoltaic modules.The order has been awarded by a domestic independent power producer/EPC player. The contract is commercial in nature and involves the supply of solar PV modules. The company stated that the order will be executed by March 2026.

In February this year, Saatvik Green Energy said it remains confident about sustaining its strong growth momentum, supported by rising demand for solar equipment, capacity expansion, and a broader product portfolio.
Also Read: Saatvik Green Energy bags ₹488 crore solar module ordersPrashant Mathur, CEO of Saatvik Green Energy, said, “We have consistently been growing. We have continuously focused on expanding our customer base. We have focused on quality and hi-tech products. We are not only getting into backward integration of cell manufacturing, we are also getting into ancillaries and also in the allied businesses. We have expanded our portfolio, not only in model manufacturing, but inverter, pumps, EPC and more.”

On margins, Mathur said that for a module manufacturer, EBITDA margins of around 13% and PAT margins of about 9–10% are considered healthy, and the company has consistently delivered within this range. He explained that the commissioning of a 2-gigawatt encapsulant manufacturing facility in the last quarter has already begun contributing to the bottom line.

Shares of Saatvik Green Energy Ltd ended at ₹413.85, down by ₹1.50, or 0.36%, on the BSE.

Also Read: Saatvik Green Energy shares surge 10% on Q1 results; Stock up 25% in six sessions