Saatvik Green Records 272% YoY Revenue Growth in Q1 FY 2026

The company manufactured 685 MW of solar modules during the quarter

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Haryana-based solar module manufacturer Saatvik Green Energy has recorded a revenue of ₹9.16 billion (~$103.20 million) in the first quarter (Q1) of the financial year (FY) 2026, representing a 272.28% year-over-year (YoY) increase from ₹2.46 billion (~$27.72 million).

The company’s earnings before interest, taxes, depreciation, and amortization stood at ₹1.81 billion (~$20.39 million), a 346.04% growth from ₹405.92 million (~$4.57 million) in the same quarter of the previous year.

Saatvik’s quarterly net profit was ₹1.19 billion (~$13.41 million), up 459.30% YoY from ₹212.45 million (~$2.39 million).

The company’s earnings per share came in at ₹10.58 (~$0.119), compared to ₹1.90 (~$0.021) in Q1 FY 2025.

Saatvik manufactured 685 MW of solar modules during Q1 with a high capacity utilization of 81.47%. Its order book stood at 4.05 GW as of June 30, 2025.

Saatvik Solar Industries, a wholly owned subsidiary of Saatvik Green Energy, is constructing a solar cell and module manufacturing facility in Odisha. The facility will have the capacity to manufacture 4.8 GW of solar cells and 4 GW of solar modules.

The solar cell manufacturing facility is scheduled to be operational by the end of FY 2027, while the module manufacturing facility is expected to be commissioned by the end of FY 2026.

Following the completion of these projects, Saatvik’s total manufacturing capacity will be 4.8 GW for solar cells and 8.8 GW for integrated cell and module production across its sites in Ambala and Odisha.

Saatvik’s initial public offering (IPO) was oversubscribed 6.57 times at the end of the bidding window on September 23, 2025. The price band was set at ₹442 (~$5) to ₹465 (~$5.26) per equity share with a face value of ₹2 (~$0.02). The IPO saw bids for 93.8 million shares, exceeding the 14.27 million shares on offer.

Saatvik Green Energy emerged as one of the top leading Indian module suppliers in 2024, according to Mercom’s India’s Solar Market Leaderboard 2025.

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