Saatvik Green Energy Ltd — earnings calls

Saatvik Green Energy reported a moderate Q1 FY27 with revenue of INR5,110 million, EBITDA margin of 8.33%, and profit after tax of INR54 million, down from prior periods due to lower sales volumes and customer deferrals. Management attributed the weakness to geopolitical disruption, commodity and forex volatility, and customers adopting a wait-and-watch approach ahead of ALMM-2 policy clarity. The company highlighted progress on its Odisha cell and module manufacturing facility, a confirmed order book of approximately 6.35 gigawatts, and new orders received in July and August 2026.

Saatvik Green Energy reported FY26 revenue of Rs 45,484 million, up around 111% year-on-year, with EBITDA of Rs 5,811 million and PAT of Rs 3,571 million. Management said fourth-quarter EBITDA margins declined due to higher silver, aluminum, copper and oil-linked input costs along with rupee depreciation against the dollar, which could not be fully passed through on fixed-price contracts placed before the increase. The company also detailed expansion of its solar cell manufacturing plan from 4.8 gigawatt to 6 gigawatt, entry into ingot and wafer manufacturing, and progress on its Odisha integrated manufacturing project.