Saatvik FY26 PAT Rises 64% to ₹3,571 Mn; Plans 8.8 GW Capacity

Saatvik Green Energy Limited has announced its audited standalone and consolidated financial results for the quarter and financial year ended March 31, 2026. The Board of Directors approved the results during a meeting held on May 20, 2026. The company reported strong growth in both revenue and profitability for the fiscal year, driven by its operations in the solar photovoltaic module manufacturing and EPC sectors. Alongside robust financials, the company has outlined an ambitious capacity expansion roadmap, targeting an increase in solar module production capacity from 4.8 GW to 8.8 GW by FY27, fueled by its 3.6 GW expansion in Odisha.

Consolidated Financial Performance

For the financial year ended March 31, 2026, Saatvik Green Energy reported a consolidated net profit of ₹3,571.15 million, marking an increase of 64% from ₹2,171.48 million in the previous year. Revenue from operations surged 111% to ₹45,484.37 million, up from ₹21,583.94 million in FY25. Total income for the year stood at ₹45,879.97 million. The company's basic earnings per share (EPS) for the year improved to ₹29.83 from ₹19.40 in the prior year.

In the quarter ended March 31, 2026, the consolidated net profit was ₹604.20 million, while revenue from operations reached ₹16,176.57 million. Total expenses for the quarter amounted to ₹15,388.46 million. The company recognized exceptional items amounting to ₹39.46 million during the quarter, primarily related to an impairment loss identified for its Monoperic cash-generating unit.

The following table summarizes the key consolidated financial metrics for the company:

Metric (INR Millions): Year Ended March 31, 2026 Year Ended March 31, 2025 Revenue from Operations: 45,484.37 21,583.94 Total Income: 45,879.97 21,924.65 Total Expenses: 41,423.98 19,082.53 Net Profit for the Year: 3,571.15 2,171.48 Basic EPS (₹): 29.83 19.40

Operational and Strategic Updates

The company achieved its highest-ever annual production of 3,162 MW during FY26, with effective capacity utilization of 84.07%. The order book stood at approximately 5.89 GW as of March 31, 2026. The debt-equity ratio improved significantly from 1.34 in FY25 to 0.65 in FY26. The Solar Pump business revenues surged nearly 19 times to ₹472 million in FY26.

On the expansion front, Saatvik Green Energy plans to scale its solar module production capacity from 4.8 GW to 8.8 GW by FY27, with the 3.6 GW Odisha integrated manufacturing facility serving as a key driver of this growth. Phase 2 of the Odisha solar cell expansion has been revised upward from 2.4 GW to 3.6 GW, with tool moving expected to commence from Q1 FY27. During the year, the company also commissioned a 2 GW in-house EPE encapsulant manufacturing facility and announced plans to scale capacity to 5 GW. Additionally, the company announced a planned entry into ingot and wafer manufacturing with a proposed capacity of 6 GW.

Standalone Financial Results

On a standalone basis, the company reported a net profit of ₹622.85 million for FY26, compared to ₹1,559.34 million in the previous year. Revenue from operations for the year was ₹22,622.20 million, up from ₹19,743.30 million in FY25. For the quarter ended March 31, 2026, standalone net profit stood at ₹114.58 million with revenue from operations of ₹6,121.47 million.

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