Saatvik Green Energy Ltd
Incorporated in 2015, Saatvik Green Energy Limited manufactures modules and offers engineering, procurement, and construction.[1]
- Market Cap ₹ 5,147 Cr.
- Current Price ₹ 405
- High / Low ₹ 580 / 350
- Stock P/E 35.9
- Book Value ₹ 75.1
- Dividend Yield 0.00 %
- ROCE 60.2 %
- ROE 78.4 %
- Face Value ₹ 2.00
Pros
- Company has reduced debt.
- Company has a good return on equity (ROE) track record: 3 Years ROE 90.8%
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Debtor days have increased from 48.4 to 71.2 days.
* 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 IPO
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 | |
|---|---|---|---|---|---|
| 154 | 480 | 609 | 1,090 | 1,974 | |
| 144 | 463 | 592 | 940 | 1,784 | |
| Operating Profit | 10 | 17 | 17 | 150 | 191 |
| OPM % | 7% | 3% | 3% | 14% | 10% |
| 0 | 0 | 9 | 10 | 59 | |
| Interest | 4 | 6 | 13 | 15 | 26 |
| Depreciation | 2 | 2 | 7 | 11 | 12 |
| Profit before tax | 4 | 8 | 7 | 134 | 211 |
| Tax % | 29% | 28% | 29% | 25% | 26% |
| 3 | 6 | 5 | 100 | 157 | |
| EPS in Rs | 9.35 | 17.63 | 14.08 | 296.69 | 14.01 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 60% |
| TTM: | 81% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 198% |
| TTM: | 57% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 91% |
| Last Year: | 78% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|
| Equity Capital | 3 | 3 | 3 | 3 | 22 | 25 |
| Reserves | 14 | 12 | 17 | 117 | 258 | 930 |
| 44 | 112 | 153 | 227 | 161 | 146 | |
| 26 | 100 | 90 | 257 | 374 | 307 | |
| Total Liabilities | 87 | 227 | 263 | 604 | 815 | 1,408 |
| 29 | 32 | 50 | 53 | 60 | 56 | |
| CWIP | 0 | 0 | 0 | 1 | 0 | 0 |
| Investments | 3 | 0 | 0 | 10 | 0 | 1 |
| 56 | 195 | 213 | 539 | 755 | 1,351 | |
| Total Assets | 87 | 227 | 263 | 604 | 815 | 1,408 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| 16 | -57 | -3 | 14 | ||
| -3 | 1 | -18 | -67 | ||
| -11 | 55 | 32 | 52 | ||
| Net Cash Flow | 1 | -1 | 11 | -1 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| Debtor Days | 28 | 8 | 13 | 62 | 71 |
| Inventory Days | 61 | 109 | 89 | 93 | 42 |
| Days Payable | 52 | 62 | 45 | 79 | 58 |
| Cash Conversion Cycle | 37 | 55 | 56 | 75 | 55 |
| Working Capital Days | 39 | -0 | 1 | 23 | 45 |
| ROCE % | 15% | 13% | 57% | 60% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order
1d - Subsidiary received accepted INR 13.80 Crore solar PV modules order, execution by February 2026.
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Clarification /Confirmation On News Item Appearing In Media/Publication
1d - Confirms Saatvik subsidiary received INR 20.84 crore turnkey solar EPC order; corrects Business Standard's INR 29 crore report.
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Clarification sought from Saatvik Green Energy Ltd
1d - Exchange has sought clarification from Saatvik Green Energy Ltd on January 9, 2026, with reference to news appeared in https://www.business-standard.com dated January 9,2026 quoting "Saatvik …
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Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order
2d - Saatvik subsidiary secured INR 20.84 Crore turnkey solar EPC order; execution by March 2026.
- Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 2d
Concalls
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Nov 2025TranscriptPPT
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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.