Saatvik Green Energy secured orders worth around ₹400 crore and commissioned its 2 GW in-house EPE film manufacturing facility. Mathur said the second half of the year tends to see higher activity. He expects the order book, which stood at 4.68 GW at the end of September, to rise in the third quarter.
Saatvik remains on track to deliver over 80% top-line growth in the fiscal year 2025-26 (FY26), in line with its guidance. Mathur said the current quarter is progressing smoothly despite weather-related concerns in North India.
On the broader market, Mathur pointed to strong installation data. India has already installed about 27 GW of AC capacity in the first eight months of the fiscal year, which translates to nearly 37 GW in DC terms.
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Domestic module prices have declined by around 7–8%, partly due to the impact of the goods and services tax (GST), supporting demand.
Solar modules currently account for the bulk of Saatvik’s revenue, while other segments, including EPC, solar pumps, and inverters, contribute approximately 5–7%. The company aims to increase this share to around 15% from the financial year 2026-27 (FY27).
As part of its supply chain strategy, Saatvik has commissioned a 2 GW EPE film manufacturing facility to reduce dependence on imports. Mathur said this would support quality and cost control and supply around 25% of the company’s module needs from next year. The company is also expanding its module capacity from 4.8 GW to 8.8 GW with a new facility in Odisha and plans to move into cell, ingot, and wafer manufacturing.
The company, which has a current market capitalisation of ₹4,920.87 crore, has seen its shares lose more than 14% since its listing in September 2025.
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