Green energy stock in focus after receiving orders worth ₹500 Cr for solar PV modules

Synopsis: Saatvik Green Energy has recently informed the exchanges that it has received multiplie work orders from independent power producers and MSEDCL to supply solar photovoltaic modules and solar pumps.

The shares of this renewable energy company majorly engaged in manufacturing solar PV module, were in focus after receiving a work orders totalling of Rs. 500 crores to supply solar photovoltaic modules and solar pumps, and also commissioning a new facility.

With the market capitalization of Rs. 5,078 Crores, the shares of Saatvik Green Energy is trading at around Rs. 390 per equity share, which is 45 percent discount from its 52 weeks high of Rs. 567 per share, and trading at a P/E of 21.4  whereas industry P/E stands 32. 

What is the News

Saatvik Green Energy has announced a significant business development with its material subsidiary, Saatvik Solar Industries, securing a Rs. 486 crore work order from a renowned independent power producer/EPC player, whose identity has not been disclosed. Under this order, the subsidiary will supply solar photovoltaic modules, with execution scheduled to be completed by December 2026, providing strong medium-term revenue visibility for the company. 

In addition to this, Saatvik Green Energy has also received another order worth Rs. 13.5 crore from Maharashtra State Electricity Distribution Company Limited (MSEDCL) for the supply of 815 solar photovoltaic water pumps, further strengthening its order book and reinforcing its presence in the renewable energy and solar equipment segment.

Accordingly, it has also successfully commissioned and operationalized a 2 GW in-house EPE (Protective Encapsulant) film manufacturing facility at its Ambala campus in Haryana, focused on deeper vertical integration and supply-chain self-reliance.

About the Company and Financials

Saavik Green Energy is one of the leading manufacturers and supplier of Solar cells and modules with a moudle 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 46 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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