Saatvik Green Energy (SAATVIKGL) Q4 23/24 earnings summary

Executive summary

• Revenue from operations grew to INR 10,900.49 million in FY24 from INR 6,085.88 million in FY23, with net profit rising sharply to INR 1,002.84 million from INR 47.59 million year-over-year.

• The company completed its first-time adoption of Ind AS, restating prior year numbers for comparability.

• No dividend was declared for FY24 to conserve profits and support ongoing investments.

Financial highlights

• EBITDA increased to INR 1,568.44 million in FY24 from INR 238.66 million in FY23.

• Profit before tax rose to INR 1,343.03 million from INR 66.78 million year-over-year.

• Total assets reached INR 6,040.34 million as of March 31, 2024.

• Export turnover increased to INR 177.91 million in FY24 from INR 46.86 million in FY23.

• Earnings per share (EPS) rose to INR 296.70 from INR 14.08 year-over-year.

Outlook and guidance

• Management anticipates a bright future for the solar module business, supported by government incentives for renewable energy.

• Plans are underway to expand operations and transition from private to public company status, with an application for public listing submitted post-FY24.