SYNOPSIS: Saatvik Green’s EPC arm secured a Rs. 20.84 crore turnkey solar project from a reputed developer, strengthening its order book with execution targeted by March 2026.
During Friday’s trading session, shares of one of India’s fully integrated renewable energy manufacturing companies are in focus on the stock exchanges, after securing an order worth Rs. 20.84 crores for a turnkey EPC project.
At 10:45 a.m., shares of Saatvik Green Energy Limited were trading in the red at Rs. 412.4 on BSE, down by over 1 percent, compared to its previous closing price of Rs. 417.65, with a market cap of Rs. 5,241.8 crores.
Saatvik Green made a muted stock market debut on Friday, 26th September 2025, listing almost flat across exchanges. The shares opened at the IPO price of Rs. 465 on the NSE, while on the BSE they began trading slightly lower at Rs. 460, a decline of about 1 percent.
The company raised Rs. 900 crore through its initial public offering, which included a Rs. 700 crore fresh issue and a Rs. 200 crore offer for sale, with the issue subscribed around six times. So far in 2026, the stock has delivered positive returns of more than 10 percent.
As per the disclosures with the latest stock exchanges, Saatvik Green Energy Limited announced that its wholly owned subsidiary, Saatvik Cleantech EPC Private Limited, has secured and accepted a new order worth Rs. 20.84 crores from a renowned solar developer. The contract covers design, engineering, procurement, supply, testing, and commissioning of a turnkey solar EPC project, which is scheduled to be executed by the end of March 2026.
Previously, on 24th December, Saatvik Green has also bagged an additional order from Maharashtra State Electricity Distribution Co. Ltd. (MSEDCL). This contract involved the design, manufacture, supply, transport, installation, testing and commissioning of off-grid DC solar photovoltaic water pumping systems under the Magel Tyala Saur Krushi Pump Yojana/PM KUSUM B scheme.
The MSEDCL order comprised 1,000 solar PV water pumps with capacities of 3 HP, 5 HP, and 7.5 HP, to be installed at identified farmer sites across Maharashtra. Valued at ~Rs. 16.74 crore, the order also includes a five-year comprehensive warranty, repair and maintenance support, and a remote monitoring system.
Saatvik Green Energy Limited is primarily engaged in the business of manufacturing solar photovoltaic modules and also providing engineering, procurement, and construction (EPC) services. It is one of the few companies with capabilities in module manufacturing as well as EPC and O&M services.
Saatvik Green reported a significant growth in revenue from operations, experiencing a year-on-year increase of around 62 percent, from Rs. 475 crores in Q2 FY25 to Rs. 768 crores in Q2 FY26. Likewise, its net profit jumped during the same period from Rs. 61 crores to Rs. 83 crores, representing a rise of nearly 36 percent YoY.
As of Q1 FY26, the company’s order book of solar PV modules stood at 4.05 GW. Its module revenue mix reflected a clear shift toward next-generation technology. N-TopCon modules dominated the mix with 78.27 percent, while Mono PERC modules accounted for 18.8 percent.
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