Saatvik Green Energy Releases Quarter-End 2026 Financial Results; Highlights Acquisitions and Operational Changes
Saatvik Green Energy Limited has released its Unaudited Standalone and Consolidated Financial Results for the quarter ended June 30, 2026. The results cover various aspects of the Group's operations, including strategic acquisitions, changes in accounting policy, and utilization of IPO proceeds.The Company conducts business primarily through manufacturing Solar Photovoltaic (PV) modules, providing Engineering, Procurement and Construction (EPC) services, design, construction, procurement, and commissioning of Solar Photovoltaic Water Pumping Systems (SPWPS), and Solar Inverter systems. The Chief Operating Decision Makers (CODM) assesses the Group's performance as a single operating segment.
Consolidated Financial Performance
The Unaudited Consolidated Financial Results for the quarter ended June 30, 2026, reflect the interim financial results of the Holding Company and its subsidiaries. Key outcomes include:- Total revenue from operations stood at 5,110.10 million INR.
- Other income reached 87.20 million INR.
- Total income was recorded at 5,197.30 million INR.
- The Group generated a profit of 53.63 million INR for the period.
In comparison to previous periods, the consolidated figures are detailed below:
| Particulars (Consolidated) | June 30, 2026 (Unaudited) | March 31, 2026 (Audited) | June 30, 2025 (Unaudited) | March 31, 2026 (Audited) |
|---|---|---|---|---|
| Revenue from operations | 5,110.10 million INR | 16,076.57 million INR | 9,157.28 million INR | 45,484.37 million INR |
| Total income | 5,197.30 million INR | 16,166.18 million INR | 9,197.34 million INR | 45,879.97 million INR |
| Profit for the period | 53.63 million INR | 604.20 million INR | 1,166.01 million INR | 3,571.15 million INR |
Standalone Financials and Operational Updates
The Unaudited Standalone Financial Results for the quarter ended June 30, 2026, show strong financial performance against previous periods:| Particulars (Standalone) | Quarter Ended June 30, 2026 | March 31, 2026 | June 30, 2025 | March 31, 2026 |
|---|---|---|---|---|
| Revenue from operations | 3,332.37 million INR | 6,121.47 million INR | 3,777.96 million INR | 22,622.20 million INR |
| Total income | 3,526.99 million INR | 6,609.88 million INR | 3,896.25 million INR | 23,787.03 million INR |
| Profit for the period | 68.57 million INR | 114.58 million INR | 87.80 million INR | 622.85 million INR |
During the quarter, the Company executed several key corporate developments:
- Acquisition: A Share Purchase Agreement (SPA) was entered into to acquire 100% of the equity share capital of Melcon Transformers and Electricals Private Limited ('Melcon'). The company acquired an 80% stake for INR 24.00 million, with a deferred consideration of INR 20 million due in two years for the remaining 20% stake.
- Accounting Policy Change: The Group transitioned its accounting policy for valuation of Raw Materials, Finished Goods, and Work in Process from First In First Out (FIFO) to the moving weighted average cost method, effective March 31, 2026. This change was retrospectively applied to all previous periods presented.
- Impairment: The Company identified impairment indicators for its Monoperc cash-generating unit ('Monoperc CGU') due to rapid technological advancements and a strategic shift in management focus, resulting in an impairment loss of INR 39.46 million recognized during the quarter ended March 31, 2026.
IPO Proceeds Utilization
Details of the Initial Public Offer (IPO) conducted in the previous year are available with the financial results. The total amount offered was INR 7,000.00 million. Of this sum, an unutilised amount of 1,888.52 million INR remains as of June 30, 2026.The planned utilization of IPO proceeds for the fresh issue is summarized in the following table:
| Objects of Issue | Amount to be Utilized (INR millions) | Utilized Amount up to June 30, 2026 (INR millions) | Unutilised Amount (INR millions) |
|---|---|---|---|
| Prepayment/re-payment of borrowings | 108.19 | 100.07 | 8.12 |
| Investment in Saatvik Solar Industries Private Limited | 1,664.36 | 1,664.36 | 0.00 |
| Facility setup at Gopalpur Industrial Park (Odisha) | 4,772.27 | 2,957.93 | 1,814.34 |
| General corporate purposes | 30.36 | 12.72 | 17.64 |
| Offer expenses | 424.82 | 376.40 | 48.42 |
Subsidiaries List
The results encompass the interim financial information of six subsidiaries:| S.no. | Subsidiary |
|---|---|
| 1 | Saatvik Solar Industries Private Limited (formerly known as S Cleantech Renewables Private Limited) |
| 2 | Saatvik Cleantech EPC Private Limited (formerly known as S Cleantech Power Private Limited) |
| 3 | Saatvik Green USA Inc. |
| 4 | Intelligent Hydel Solutions Private Limited (Subsidiary of Saatvik Cleantech EPC Private Limited) |
| 5 | Saatvik Power Storage Solution Limited |
| 6 | Melcon Transformers and Electrical Private Limited (w.e.f April 23, 2026) |
SAATVIKGL Stock Price Movement
Saatvik Green Energy Limited shares slipped by 2.42% today to settle at ₹427.40 in post-market trading. The stock traded a total volume of 196,533 shares, closing near the day's low of ₹420.10.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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