Saatvik Green Energy (SAATVIKGL) Q4 25/26 earnings summary

Executive summary

• FY 2026 marked a transformational year with record financial and operational performance, driven by strategic expansion, robust demand, and integration across the clean energy value chain.

• Achieved record production and sales volumes, maintained high capacity utilization, and strengthened the balance sheet through significant deleveraging.

• Advanced backward integration, expanded manufacturing, and diversified into adjacent segments like transformers, power electronics, storage, and energy storage verticals.

• Completed a successful IPO in September 2025, raising INR 8,999.99 million, with shares listed on NSE and BSE.

• Audited consolidated and standalone financial results for FY26 received unmodified opinions, confirming compliance with Indian Accounting Standards and SEBI regulations.

Financial highlights

• FY 2026 consolidated revenue from operations rose to INR 45,484.37 million, up 111% year-over-year, with EBITDA at INR 5,811 million and PAT at INR 3,571.15 million.

• Q4 FY 2026 revenue was INR 16,077 million, with EBITDA at INR 1,166 million and PAT at INR 604 million.

• Production reached 3,162 MW and sales volumes were 3,138 MW, both at record highs; capacity utilization averaged 84.07%.

• 3-year revenue CAGR at 96%, EBITDA CAGR at 190%, and PAT CAGR at 324%.

• Basic EPS (consolidated) for FY26 was INR 29.83, up from INR 19.40 in FY25.

Outlook and guidance

• Margins expected to improve in the second half of FY 2027 as backward integration (cell manufacturing) ramps up.

• CapEx for FY 2027 projected at INR 1,700 crore, with similar levels expected in FY 2028 for further expansion.

• Management is expanding manufacturing capacity, including a new 4 GW solar PV module facility in Odisha, funded by IPO proceeds.

• Exploring 20 GW energy storage opportunities over five years and expanding module and cell capacities.

• Order book execution timeline is 18 months, with ongoing efforts to secure new orders.