Saatvik Green Energy Limited (formerly known as Saatvik Green Energy Private Limited) has announced that its material subsidiary, Saatvik Solar Industries Private Limited, received and accepted a significant order for the supply of solar photovoltaic (PV) modules. The order, which aggregates to INR 44.10 crores, was awarded by a renowned domestic Independent Power Producer (IPP)/EPC player. This commercial contract is scheduled for execution by March 2026, further solidifying the company’s robust project pipeline for the upcoming fiscal year.

As per the exchange filing dated February 17, 2026, the company clarified that neither the promoter nor the promoter group has any interest in the entity that awarded the contract. The transaction does not fall within the scope of related party transactions, ensuring it was conducted at “arm’s length”. This new win follows a series of successful order acquisitions in late 2025 and early 2026, reflecting the company’s growing credibility in the competitive solar manufacturing landscape.

Founded in 2015, Saatvik Green Energy Limited is a leading Indian renewable energy player specializing in the manufacture of high-efficiency solar PV modules, including N-TOPCon and Mono PERC technologies. The company operates a state-of-the-art 4.8 GW manufacturing facility in Ambala, Haryana, and is currently developing a massive 4 GW integrated module and 4.8 GW cell manufacturing plant in Odisha. Recent updates from early 2026 highlight their entry into the agricultural solar sector with orders for over 1,815 solar water pumps from MSEDCL under the PM-KUSUM scheme. Additionally, the company successfully commissioned a 2 GW in-house EPE film manufacturing facility in December 2025, enhancing its vertical integration and supply chain resilience.

For the quarter ended December 31, 2025 (Q3 FY26), the company reported stellar financial growth with revenue from operations reaching INR 1,257.02 crores, a 143% increase compared to the corresponding quarter of the previous year. Net profit for the same period surged by 144% year-on-year to INR 98.72 crores, driven by high capacity utilization of 81% and robust demand. On a sequential basis, revenue grew by 62% from INR 783.18 crores in Q2 FY26, while profit after tax (PAT) saw an 18.6% jump from INR 83.24 crores. The company attracts interest from prominent institutional investors, including Nippon Life India, HDFC Mutual Fund, and Bandhan Small Cap Fund, which collectively hold significant stakes following its successful IPO in late 2025.