Saatvik Green Energy Delivers Strong Q2 & H1 FY26 Results With Record Revenue Growth, Robust Margins, And Major Capacity Expansion Across Ambala And Odisha

Saatvik Green Energy Limited, one of India’s leading integrated solar energy solutions providers, announced its unaudited financial results for the second quarter (Q2 FY26) and the first half (H1 FY26) ended September 30, 2025. The company reported remarkable growth in both revenue and profitability, driven by expanding manufacturing capacity, a diversified product mix, and disciplined operations. During the first half of FY26, Saatvik achieved a 133% year-on-year increase in revenue from operations, reaching ₹16,838 million, compared to ₹7,213 million in H1 FY25.

The company’s profit after tax (PAT) also surged by 146% year-on-year to ₹2,021 million from ₹823 million in the same period last year. In Q2 FY26 alone, revenue rose by 61.6% year-on-year to ₹7,680 million, while PAT climbed 36.4% to ₹832 million. The company maintained healthy EBITDA margins of over 16%, reflecting robust operational efficiency and improved product realizations.

Commenting on the results, Prashant Mathur, Chief Executive Officer of Saatvik Green Energy Limited, said, “H1 FY26 has been a landmark period for us. We have doubled our revenue and profit year-on-year while expanding our manufacturing base and strengthening our presence across India. Our Ambala facility now operates at 4.8 GW, while the integrated 4 GW module and 4.8 GW solar cell facility in Odisha is progressing on schedule. With a strong order book of nearly 4.68 GW and a growing portfolio of high-value products, we are well-positioned to accelerate our next phase of growth.”

Saatvik’s improved financial performance also reflects its prudent capital management. The company’s debt-to-equity ratio improved significantly to 0.44 from 1.37 in the previous year, highlighting efficient leverage even as it continues to invest heavily in expansion and technology upgrades. Operationally, the company achieved 83% capacity utilization in Q2 FY26, producing 792 MW of modules. The Ambala plant added 1 GW of new capacity during the quarter, while the Odisha facility remains on track for Phase I commissioning in Q4 FY26. The Odisha project is expected to become a cornerstone in Saatvik’s strategy to enhance India’s solar self-reliance by integrating module and cell manufacturing capabilities.

The company also expanded its product portfolio with the launch of the UDAY Series of on-grid solar inverters, strengthening its presence in the distributed solar market and offering a complete end-to-end solar solution—from modules and inverters to EPC services. Saatvik showcased this integrated offering at the Renewable Energy India (REI) Expo 2025 in Greater Noida, where it engaged with policymakers, partners, and customers. Post the reporting period, Saatvik’s subsidiary, Saatvik Solar Industries Pvt. Ltd., received new domestic orders worth ₹2.99 billion from three leading Independent Power Producers and EPC players for solar PV module supply. These orders, to be executed between December 2025 and March 2026, reaffirm strong business momentum going into the second half of FY26.

Looking ahead, Saatvik plans to commission the first phase of its Odisha facility, ramp up production, and secure more high-efficiency contracts in both Indian and global markets. The company aims to further strengthen margins through product mix optimization, process improvements, and continued investment in capacity and innovation. Saatvik Green Energy Limited remains committed to supporting India’s renewable energy transition by enabling large-scale, reliable, and affordable solar solutions, with a clear focus on long-term sustainability and value creation.