Saatvik Green Energy Ltd

₹ 388 -2.14%

15 Sep 4:01 p.m.

saatvikgroup.com BSE: 544526 NSE: SAATVIKGL

About

Incorporated in 2015, Saatvik Green Energy Limited manufactures modules and offers engineering, procurement, and construction.^[1]

Key Points

Business Profile:^[1]^[2]
The company is one of India’s leading solar PV module manufacturers, with a manufacturing capacity of 4.86 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 5.50 GW of solar PV modules to domestic and international markets.

Website BSE NSE

Market Cap ₹ 4,929 Cr.
Current Price ₹ 388
High / Low ₹ 580 / 328
Stock P/E 19.8
Book Value ₹ 107
Dividend Yield 0.00 %
ROCE 32.9 %
ROE 42.4 %
Face Value ₹ 2.00

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Pros

Company is expected to give good quarter
Company has a good return on equity (ROE) track record: 3 Years ROE 58.9%

Cons

Though the company is reporting repeated profits, it is not paying out dividend

* 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.

Peer comparison

Industrials Capital Goods Electrical Equipment Other Electrical Equipment

Part of BSE Industrials Nifty Microcap 250 Nifty Total Market BSE IPO BSE 1000 Nifty IPO Nifty Smallcap 500

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	233.50	245.98	475.30	518.19	918.94	915.73	768.03	1,257.02	1,607.66	511.01
	212.56	213.50	407.24	450.04	761.89	738.69	659.66	1,105.88	1,500.02	477.18
Operating Profit	20.94	32.48	68.06	68.15	157.05	177.04	108.37	151.14	107.64	33.83
OPM %	8.97%	13.20%	14.32%	13.15%	17.09%	19.33%	14.11%	12.02%	6.70%	6.62%
	2.44	8.12	20.83	2.11	3.02	4.01	15.15	11.44	5.01	8.72
Interest	3.28	6.65	8.61	12.48	16.48	19.04	13.63	23.12	15.50	21.74
Depreciation	1.14	4.35	5.44	9.44	11.94	12.46	13.69	14.70	23.32	13.41
Profit before tax	18.96	29.60	74.84	48.34	131.65	149.55	96.20	124.76	73.83	7.40
Tax %	26.27%	28.21%	18.47%	16.32%	28.07%	20.55%	13.48%	22.32%	18.16%	27.57%
	13.98	21.24	61.03	40.45	94.71	118.82	83.24	96.92	60.42	5.36
EPS in Rs	41.36	62.90	181.07	3.61	8.45	10.60	6.55	7.63	4.77	0.43
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	609	1,088	2,158	4,548	4,144
	593	940	1,837	4,007	3,743
Operating Profit	15	148	322	542	401
OPM %	2.5%	14%	15%	12%	10%
	9	9	32	36	40
Interest	11	14	42	71	74
Depreciation	7	11	31	64	65
Profit before tax	7	132	280	442	302
Tax %	29%	24%	24%	19%
	5	100	214	357	246
EPS in Rs	14.05	297.10	19.11	28.11	19.38
Dividend Payout %	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	%
5 Years:	%
3 Years:	96%
TTM:	47%

Compounded Profit Growth
10 Years:	%
5 Years:	%
3 Years:	324%
TTM:	-21%

Stock Price CAGR
10 Years:	%
5 Years:	%
3 Years:	%
1 Year:	%

Return on Equity
10 Years:	%
5 Years:	%
3 Years:	59%
Last Year:	42%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	3	3	22	25
Reserves	17	117	315	1,336
	153	280	503	939
	90	288	795	814
Total Liabilities	263	688	1,636	3,115
	50	117	320	451
CWIP	0	33	2	384
Investments	0	10	0	0
	213	528	1,314	2,280
Total Assets	263	688	1,636	3,115

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	5	44	43	-27
	-24	-69	-198	-896
	32	25	149	946
Net Cash Flow	13	-1	-7	23
Free Cash Flow	-18	-17	-144	-628
CFO/OP	61%	41%	31%	17%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	13	59	68	56
Inventory Days	89	98	149	72
Days Payable	45	82	128	60
Cash Conversion Cycle	56	75	88	69
Working Capital Days	-0	7	26	43
ROCE %		51%	52%	33%

Insights

In beta

Mar 2017

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Solar Module Installed Capacity
MW

xxx	xxx	x,xxx	x,xxx	x,xxx
	x.xx	x.xx	x.xx	x.xx
	xx.xx	xx.xx	xx.xx	xx.xx
	xxx.xx	xxx.xx	x,xxx.xx	x,xxx.xx
	xxx.xx	xxx.xx	x,xxx.xx	x,xxx.xx
			x	x
				xx
			xx

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Confirmed Order Book
GW

Effective Module Capacity Utilization
%

Solar Module Production Volume
MW

Solar Module Sales Volume
MW

Encapsulant Manufacturing Capacity
GW

Selling Partners
count

Utility Customer Share
%

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	75.99%	75.99%	75.99%	75.99%
	0.46%	0.25%	0.03%	0.19%
	8.05%	9.35%	10.52%	10.97%
	15.51%	14.42%	13.46%	12.84%
No. of Shareholders	1,71,559	83,335	78,073	69,254

	Mar 2026	Jun 2026
	75.99%	75.99%
	0.03%	0.19%
	10.52%	10.97%
	13.46%	12.84%
No. of Shareholders	78,073	69,254

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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