Saatvik Green Energy Reports Q1 FY27 Performance, Maintains Strong Order Visibility Amid Manufacturing Expansion

• Confirmed order book stood at 6.35 GW equivalent to approximately 132% of installed module capacity, providing strong medium-term business visibility.
• Debt-to-equity ratio improved to 0.99x, compared with 1.28x in Q1 FY26, reflecting continued financial discipline.
• Q1 FY27 revenue from operations stood at ₹5,110 Mn, compared with ₹9,157 Mn in Q1 FY26.
• Saatvik continued to advance its integrated manufacturing roadmap in Odisha, with the 2.4 GW cell and 4 GW module manufacturing lines progressing towards ramp up with ALMM-II inspection planned in September.
• Saatvik further diversified its clean energy portfolio through the launch of the Saatvik SuryaConnect Solar Kit and UDAY Plus Hybrid Inverter, alongside continued expansion across EPC, transformers and energy storage solutions.
• The Company was recognised as ‘Brand of the Year’ at the India Power & Renewable Leadership Awards 2026 and received the Golden Peacock Occupational Health & Safety Award 2026, while maintaining zero Lost Time Injuries for two consecutive years.

 National, 14^th August 2026: Saatvik Green Energy Limited, one of India’s leading integrated solar energy solutions providers, announced its unaudited financial results for the quarter ended June 30, 2026 (Q1 FY27).

The Company reported revenue from operations of ₹5,110 Mn during Q1 FY27, compared with ₹9,157 Mn in Q1 FY26. Our confirmed orderbook currently stands at approximately 6.35 GW, representing around 132% of our operational capacity of 4.8 GW and providing strong forward revenue visibility. We have continued to receive orders during the period which reinforces our view that the underlying demand environment remains healthy.

The quarter also marked continued progress across Saatvik’s manufacturing expansion and value-chain integration roadmap, alongside growing traction across its solar module business and broader clean energy solutions portfolio.

Q1 FY27 Financial Performance

Continued Business Momentum and Strategic Expansion

 During the quarter, Saatvik continued to strengthen its position across the solar and clean energy value chain, supported by order execution, manufacturing expansion and portfolio diversification.

• Order Momentum: Confirmed order book stood at 6.35 GW, equivalent to approximately 132% of installed module capacity. Additional, orders secured subsequently have further strengthened business visibility.
• Odisha Manufacturing Phase 1: The Gopalpur integrated manufacturing facility continued to progress towards the next stage. The 2.4 GW cell manufacturing line ramp up will start shortly and ALMM-II inspection is planned for September. The 4 GW module manufacturing line ramp up will start by August end.
• Backward Integration: Beyond Phase-I, Saatvik is advancing towards the next stages of its manufacturing expansion. Phase-II will add 3.6 GW of cell manufacturing capacity, taking Saatvik’s total cell manufacturing capacity to 6 GW. Site activities are targeted to commence by the end of Q2 FY27, with completion targeted by FY28. In parallel, Saatvik has initiated planning for Phase-III, which envisages 6 GW of ingot and wafer manufacturing capacity. Targeted for completion by FY29, Phase-III is aligned with the anticipated ALMM-III transition.
• Portfolio Diversification: During the quarter, the Company launched the Saatvik SuryaConnect Solar Kit, a ready-to-install residential and commercial solar solution, and the Saatvik UDAY Plus Hybrid Inverter, combining solar power with battery backup. Saatvik also continued to strengthen its presence across EPC, transformers, BESS and distributed solar solutions.

• Financial Discipline: The Company’s debt-to-equity ratio improved to 0.99x as of June 2026, compared with 1.28x in Q1 FY26, reflecting continued focus on financial discipline while investing in its expansion roadmap.
• Industry Recognition: Saatvik was recognised as ‘Brand of the Year’ at the India Power & Renewable Leadership Awards 2026 and received the Golden Peacock Occupational Health & Safety Award 2026 in the Power (Renewable) Sector. The Company maintained zero Lost Time Injuries for two consecutive years.

Management Commentary

Commenting on the performance, Mr. Prashant Mathur, Chief Executive Officer, Saatvik Green Energy Limited, said, “Q1 FY27 marked a quarter of strategic progress for Saatvik, as we continued to invest ahead for the next phase of growth. We are advancing towards the ramp-up of our 2.4 GW cell and 4 GW module manufacturing facility. Moreover, our fundamentals remain strong, with a confirmed order book of 6.35 GW providing robust medium-term visibility. The improvement in our debt-to-equity ratio to 0.99x underscores our commitment to disciplined, capital-efficient growth. As we progress through FY27, our focus remains on accelerating execution, scaling manufacturing and strengthening our integrated clean energy portfolio. With strong demand visibility, expanding capacities and prudent capital management, Saatvik is well positioned to capture India’s next phase of clean energy growth and deliver sustainable long-term value.”

Outlook

Saatvik enters the remainder of FY27 with a strategic focus on manufacturing scale-up, order execution, portfolio diversification and deeper value-chain integration.

Key focus areas for the coming quarters include:

• Advancing the Gopalpur integrated manufacturing facility and progressing towards the ramp-up.
• Strengthening its presence across distributed solar, inverters, transformers, Solar Pumps, BESS and other clean energy solutions.
• Building on its strong order book and expanding its customer base across domestic and international markets.
• Improving capacity utilisation, operational efficiency and execution while maintaining disciplined capital allocation.

The Company remains committed to supporting India’s renewable energy ambitions through reliable, scalable and technology-led clean energy solutions, while continuing to build a stronger and more integrated domestic solar manufacturing ecosystem.

About Saatvik Green Energy Limited 

Saatvik Green Energy Limited is one of India’s leading solar photovoltaic module manufacturers, with a strong presence across utility-scale, commercial & industrial, EPC, and distributed solar segments. The Company currently operates a 4.8 GW module manufacturing facility in Ambala, Haryana, and is developing a Greenfield integrated manufacturing facility in Odisha with 4 GW of module capacity and 6 GW of solar cell capacity. With a focus on technology, quality, and execution, Saatvik aims to play a meaningful role in India’s renewable energy transition.