Indian solar PV manufacturer Saatvik Green Energy Limited has reported earnings results for Q1 FY2026 (period ending June 30, 2025). Its EBITDA of INR 1.81 billion ($20.4 million) represents a 346.04% year-over-year (YoY) growth over the same period last year.
The company’s revenues from operations rose 272.28% YoY to INR 9.16 billion ($103.3 million), while profit after tax (PAT) was 459.30% higher than the previous year at INR 1.18 billion ($13.4 million).
Mono PERC modules made up 18.8% of its revenues from operations during Q1 FY26, while n-type TOPCon modules accounted for the lion’s share of 78.27%. The group is also active in the EPC and O&M space.
Saatvik reported high-capacity utilization during the reporting quarter, running its facilities at 81.47%, while rolling out 685.03 MW of modules. As of June 2025, its total production capacity was 3.74 GW, with an additional 1 GW capacity coming up in Ambala, Haryana. At the end of the reporting period, the manufacturer says its total solar module orderbook had reached 4.05 GW.
A company subsidiary, Saatvik Solar, is building an integrated solar PV manufacturing factory in Odisha that will comprise 4.8 GW of solar cell and 4 GW of module production capacity. These capacities will be operational by the end of FY 2027 and FY 2026, respectively (see India Solar PV News Snippets).
This is the company’s 1st quarterly earnings report after becoming a listed company in late-September 2025. It reportedly raised INR 4.77 billion from the initial public offering (IPO).
Recently, the group also announced an expansion into solar PV inverter manufacturing with its UDAY series of on-grid products. In a statement, the company said that this product strengthens its position as a complete solution provider for all homes and businesses.
Saatvik’s inverter launches include 1.1 kW to 6 kW single-phase product with up to 20 A PV input current, which can support all advanced modules for residential and small commercial rooftops. Another variant is a 3-phase inverter with 6 kW to 50 kW capacity for larger residential and commercial & industrial (C&I) projects. The company claims its UDAY series of inverters offers over 99% MPPT efficiency and 150% PV input oversizing.
