Haryana-based solar module manufacturer Saatvik Green Energy’s revenue rose 61.6% year-over-year (YoY) to ₹7.68 billion (~$86.62 million) in the second quarter (Q2) of the financial year (FY) 2026, from ₹4.75 billion (~$53.60 million).

Earnings before interest, taxes, depreciation, and amortization (EBITDA) totaled ₹1.23 billion (~$13.93 million), up 39% from ₹889 million (~$10.02 million).

Profit after tax (PAT) stood at ₹832 million (~$9.4million), rising 36.4% YoY from ₹610 million (~$6.9 million).

The company attributed its performance to higher capacity utilization and sustained market demand for solar modules. It also credited improved operational efficiencies, cost optimization, and a richer product mix for its enhanced profitability.

The EBITDA expansion was attributed to effective cost control and stronger realizations from Saatvik Green’s premium offerings.

1H FY 2025

Saatvik Green reported revenue of ₹16.84 billion (~$190 million) in the first half (1H) of FY 2026, a 133.4% YoY increase from ₹7.21 billion (~$81.34 million).

EBITDA stood at ₹3.04 billion (~$34.35 million), up 135.2% from ₹1.3 billion (~$14.6 million) in the same half of the previous year.

PAT was ₹2.02 billion (~$22.8 million), a 145.5% increase from ₹823 million (~$9.3 million).

Operational Highlights

Saatvik Green’s order book as of September 2025 stood at 4.68 GW. It has scaled manufacturing capacity at its Ambala plant to 4.8 GW and integrated a greenfield 4 GW solar module and 4.8 GW cell facility in Odisha.

In Q2 FY 2026, Saatvik Green produced 792 MW of solar modules, with a capacity utilization of 83.1%.

The company introduced its UDAY Series on-grid solar inverters. In October this year, it received orders worth approximately ₹6.9 billion (~$78 million) to supply high-efficiency solar modules to undisclosed Indian independent power producers and engineering, procurement, and construction contractors.

 Outlook

Saatvik Green said it plans to commission the first phase of its Odisha facility within 2H FY 2026. It aims to secure and execute more high-efficiency, high-value contracts in India and select global markets.

The company also plans to strengthen its margins through product mix optimization, process excellence, and manufacturing integration. It added that it aims to maintain a disciplined capital structure, support working capital efficiency, and continue investing in capacity and technology to improve its long-term competitive advantage.

Saatvik Green announced that its material subsidiary, Saatvik Solar Industries, received orders worth nearly ₹3 billion (~$33.76 million) to supply solar modules to independent power producers and engineering, procurement, and construction companies.

Saatvik Green recorded a revenue of ₹9.16 billion (~$103.20 million) in Q1 FY 2026,  a 272.28% YoY increase from ₹2.46 billion (~$27.72 million).