Saatvik Green subsidiary secures ₹109-crore order for solar PV modules

Gurugram-based solar panel manufacturer Saatvik Green Energy Ltd on Thursday (March 9) said its material subsidiary, Saatvik Solar Industries Private Ltd, has received and accepted orders worth ₹108.75 crore from leading domestic independent power producers and EPC players.

The orders are for the supply of solar photovoltaic (PV) modules and are scheduled to be executed by September 2026. The company confirmed that the contracts are commercial in nature, awarded by domestic entities, and do not fall

under related party transactions.

In February this year, Saatvik Green Energy said it is 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 arm receives ₹178 crore solar PV module orders from domestic client

Prashant Mathur, CEO of Saatvik Green Energy, said, “We have continuously focused on expanding our customer base… on quality and hi-tech products. We are not only getting into backward integration of cell manufacturing, but we are also getting into ancillaries and allied businesses. We have expanded our portfolio, not only in model manufacturing, but inverter, pumps, EPC and more."

In the October-December quarter (Q3FY26), Saatvik Green Energy reported a revenue of ₹1,257 crore, profit after tax of ₹98 crore with margins at 12.15%. Capacity expansion is a key driver of the company’s forward outlook. Saatvik’s Odisha project is progressing as planned. It will almost double its manufacturing capacity from 4.8 gigawatts to 8.8 gigawatts.

Module manufacturing from the new facility is expected to begin in the first quarter of the next financial year. Cell manufacturing is scheduled to start in the second half of the year and is expected to improve profitability, even if its revenue contribution is initially limited.

Also Read: Saatvik Green arm wins ₹486-crore order for solar PV modules

Shares of Saatvik Green Energy Ltd ended at ₹421.35, up by ₹2.80, or 0.67%, on the BSE today, April 9.