Saatvik Green Energy Ltd
Incorporated in 2015, Saatvik Green Energy Limited manufactures modules and offers engineering, procurement, and construction.[1]
- Market Cap ₹ 5,937 Cr.
- Current Price ₹ 467
- High / Low ₹ 580 / 328
- Stock P/E 91.3
- Book Value ₹ 79.0
- Dividend Yield 0.00 %
- ROCE 14.2 %
- ROE 10.1 %
- Face Value ₹ 2.00
Pros
- Company has delivered good profit growth of 83.1% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 35.2%
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Earnings include an other income of Rs.113 Cr.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| 154 | 480 | 609 | 1,090 | 1,974 | 2,262 | |
| 144 | 463 | 592 | 940 | 1,785 | 2,247 | |
| Operating Profit | 10 | 17 | 17 | 150 | 190 | 15 |
| OPM % | 7% | 3% | 3% | 14% | 10% | 1% |
| 0 | 0 | 9 | 10 | 59 | 113 | |
| Interest | 4 | 6 | 13 | 15 | 27 | 25 |
| Depreciation | 2 | 2 | 7 | 11 | 12 | 17 |
| Profit before tax | 4 | 8 | 7 | 134 | 209 | 85 |
| Tax % | 29% | 28% | 29% | 25% | 26% | 27% |
| 3 | 6 | 5 | 100 | 156 | 62 | |
| EPS in Rs | 9.35 | 17.63 | 14.08 | 296.69 | 13.92 | 4.90 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 71% |
| 3 Years: | 55% |
| TTM: | 15% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 83% |
| 3 Years: | 139% |
| TTM: | -58% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 35% |
| 3 Years: | 35% |
| Last Year: | 10% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Equity Capital | 3 | 3 | 3 | 3 | 22 | 25 |
| Reserves | 14 | 12 | 17 | 117 | 258 | 979 |
| 44 | 112 | 153 | 227 | 161 | 167 | |
| 26 | 100 | 90 | 257 | 374 | 317 | |
| Total Liabilities | 87 | 227 | 263 | 604 | 815 | 1,489 |
| 29 | 32 | 50 | 53 | 60 | 43 | |
| CWIP | 0 | 0 | 0 | 1 | 0 | 0 |
| Investments | 3 | 0 | 0 | 10 | 0 | 645 |
| 56 | 195 | 213 | 539 | 755 | 801 | |
| Total Assets | 87 | 227 | 263 | 604 | 815 | 1,489 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| 16 | -57 | -3 | 14 | 88 | 2 | |
| -3 | 1 | -18 | -67 | 3 | -643 | |
| -11 | 55 | 32 | 52 | -98 | 644 | |
| Net Cash Flow | 1 | -1 | 11 | -1 | -7 | 3 |
| Free Cash Flow | 13 | -58 | -21 | 7 | 80 | -6 |
| CFO/OP | 161% | -334% | 10% | 20% | 70% | 369% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Debtor Days | 28 | 8 | 13 | 62 | 71 | 51 |
| Inventory Days | 61 | 109 | 89 | 93 | 42 | 37 |
| Days Payable | 52 | 62 | 45 | 79 | 57 | 46 |
| Cash Conversion Cycle | 37 | 55 | 56 | 75 | 55 | 42 |
| Working Capital Days | 39 | -0 | 1 | 23 | 45 | 50 |
| ROCE % | 15% | 13% | 57% | 60% | 14% |
Insights
In beta| Mar 2017 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Solar Module Installed Capacity MW |
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| Confirmed Order Book GW |
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| Effective Module Capacity Utilization % |
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| Solar Module Production Volume MW |
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| Solar Module Sales Volume MW |
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| Encapsulant Manufacturing Capacity GW |
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| Selling Partners count |
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| Utility Customer Share % |
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Extracted by Screener AI
Documents
Announcements
-
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
2d - Submitted Regulation 74(5) compliance certificate for quarter ended June 30, 2026.
- Closure of Trading Window 26 Jun
-
Compliances-Reg.24(A)-Annual Secretarial Compliance
28 May - Annual Secretarial Compliance Report for FY ended March 31, 2026 notes one delayed related-party approval.
-
Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order
26 May - Received and accepted ₹171.45 crore domestic solar PV module order, to be executed by October 2026.
- Announcement under Regulation 30 (LODR)-Earnings Call Transcript 25 May
Concalls
-
May 2026Transcript PPT REC
-
Feb 2026Transcript PPT
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Nov 2025Transcript PPT
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Oct 2025Transcript PPT REC
Business Profile[1][2]
The company is one of India’s leading solar PV module manufacturers, with a manufacturing capacity of 3.80 GW. It provides integrated solutions covering module manufacturing, EPC services, and O&M support, and has achieved an installed EPC base of 69.12 MW as of March 2025. Since its inception, the company has supplied over 2.50 GW of solar PV modules to domestic and international markets.