Saatvik Green Energy has secured approximately ₹400 crore in orders and has launched its 2 GW in-house EPE film manufacturing facility. Mathur noted that the second half of the year typically experiences increased activity, and he anticipates the order book, which was at 4.68 GW by the end of September, will grow in the third quarter.
Saatvik is on target for over 80% revenue growth in fiscal year 2025-26 (FY26), aligning with its projections. Mathur indicated that the current quarter is maintaining a steady pace despite weather-related challenges in North India.
Discussing the overall market, Mathur highlighted solid installation figures, noting that India has already installed around 27 GW of AC capacity within the first eight months of the fiscal year, equating to nearly 37 GW in DC terms.
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The prices of domestic modules have dropped by approximately 7–8%, partly influenced by the goods and services tax (GST), thereby bolstering demand.
Currently, solar modules constitute the majority of Saatvik’s revenue, while other divisions such as EPC, solar pumps, and inverters contribute roughly 5–7%. The firm aims to elevate this portion to about 15% by fiscal year 2026-27 (FY27).
To enhance its supply chain strategy, Saatvik has established a 2 GW EPE film manufacturing facility to lessen its reliance on imports. Mathur mentioned that this initiative would ensure quality and cost efficiency, providing around 25% of the company’s module requirements from the next year. The company is also expanding its module production capacity from 4.8 GW to 8.8 GW with a new facility in Odisha and has plans to venture into cell, ingot, and wafer manufacturing.
With a current market capitalization of ₹4,920.87 crore, the company has experienced a decline of over 14% in its shares since it went public in September 2025.
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