Saatvik Green Energy stock receives work order worth ₹16.74 Cr for solar water pumping systems

Synopsis: Saatvik Green Energy has recently informed the stock exchanges that it has recently received additional work orders from Maharashtra State Electricity Distribution Company Limited to supply DC Solar Photovoltaic water Pumping systems. 

The shares of this renewable energy company majorly engaged in manufacturing solar PV modules, were in focus after receiving additional work orders worth Rs. 16.74 Crores to supply  DC Solar Photovoltaic water Pumping systems to MSEDCL.

With the market capitalization of Rs. 4864 Crores, the shares of Saatvik Green Energy Ltd were trading at around Rs. 383 per equity share, which is 32 percent discount from its 52 weeks high of Rs. 567 per share, and trading at a P/E of 20.4  whereas industry P/E stands 31.7

What is the NEWS: 

The Maharashtra State Electricity Distribution Company Limited (MSEDCL) has placed an additional order with Saatvik Green Energy Limited for the design, production, supply, installation, testing, and commissioning of off-grid DC solar photovoltaic water pumping systems for Maharashtra farmers under the Magel Tyala Saur Krushi Pump Yojana/PM-KUSUM B scheme.

 The order includes 1,000 solar pumps with capacities of 3 HP, 5 HP, and 7.5 HP that will be installed at designated locations. This brings the company’s total order count to 1,815 pumps, with an aggregate value of roughly Rs. 30.24 crore (excluding GST), of which the incremental order is valued at roughly Rs. 16.74 crore (excluding GST). The SPWPS will be installed and commissioned within 60 days from the date of issuance of the work order from the circle office, and the contract includes a complete system warranty and its repair & maintenance and a remote monitoring system for 5 years. 

About the company and Financials: 

Saavik Green Energy is one of the leading manufacturers and suppliers of Solar cells and modules with a module manufacturing capacity of 4.8 GW. The company is expanding its manufacturing facility in Odisha comprising 4 GW module and 4.8 GW cell capacity with expected phase 1 commissioning in Q4 FY26. 

The company’s capex for solar cell stands at Rs. 1300 Crores for 2.4 GW with 70 percent debt and 30 percent internal accruals.  The company has an order book of ~4.68 GW as on 30 September 2025  which would be executed in 9-12 months 

Year on Year analysis: Its revenue from operations has increased from Rs. 475 Crores to Rs. 768 Crores, up 61 percent. Operating profit has increased from Rs. 68 Crores to 108 Crores, up 59 percent and net profit has increased from  Rs. 61 Crores to Rs. 83 crores, up 36 percent 

Quarter on Quarter analysis: Its revenue from operations has decreased  on a quarterly basis  from Rs. 916 Crores to Rs. 768 Crores, down 16 percent. Operating profit has decreased from Rs. 177 Crores to 108 Crores, down 39 percent and net profit has decreased from  Rs. 119  Crores to Rs. 83 crores, down 30  percent. 

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