Q2 Results: Saatvik Solar Reports 37% Rise In Net Profit

Indian solar module manufacturing company Saatvik Solar today announced its financial results for the latest quarter (Q2). The company reported positive growth in revenue and net profit on a year-on-year (YoY) basis but recorded a decline sequentially.

According to the results shared by the Ambala-based firm, total income rose 57.8 % year-on-year to Rs 783.18 crore in the quarter ending September this year, compared to Rs 496.10 crore in Q2 of the previous financial year.

On a quarterly basis, however, the company reported total income of Rs 919.73 crore in the first quarter of FY26, marking a sequential decline of 14.8 %.

In terms of profit, the company’s profit after tax (PAT) rose 36.6 % year-on-year to Rs 83.24 crore, compared to Rs 61.03 crore in Q2 FY25. Sequentially, the company had reported a PAT of Rs 118.82 crore in Q1 FY26, reflecting a quarter-on-quarter decline of 29.9 %.

H1 Results

For the first half (H1) of FY26, the listed solar company reported total income of Rs 1,702.92 crore, compared to Rs 750.21 crore in H1 FY25, representing a 126 % increase in revenue.

In terms of profit, the company reported a PAT of Rs 202.06 crore in H1 FY26, compared to Rs 82.27 crore in H1 FY25, marking a 145 % rise in half-yearly profit.

Prashant Mathur, Chief Executive Officer, Saatvik Green Energy Limited, said:“Our H1 FY26 performance clearly demonstrates that Saatvik’s growth is both accelerated and disciplined. Revenue from operations grew by over 133%, EBITDA more than doubled, and PAT expanded by over 145% year-on-year in the first half. Throughout this high-growth phase, we maintained healthy double-digit margins and strengthened our balance sheet. Our Debt-to-Equity ratio improved to 0.44 from 1.37, reflecting prudent leverage and better capital efficiency, even as we invest aggressively in Odisha, Ambala, and future manufacturing locations. A robust order book of nearly 4.68 GW and an increasingly differentiated, higher-value product portfolio gives us confidence that this performance is not a spike - it is a new baseline from which we intend to grow further,” he added. 

Background & Future Plans

Saatvik Solar currently has a manufacturing capacity of 4.8 GW of solar modules at its facility in Ambala, Haryana. The company is now planning to expand its manufacturing footprint with an integrated solar manufacturing ecosystem in Odisha, where it aims to establish a 4.8 GW solar-cell line and a 4 GW solar-module line.

The company expects to commission the module-production line in Odisha by the end of this financial year, followed by a 2.4 GW solar-cell line by mid-next year, which will then be expanded further within six months.

In addition, the company has launched a new range of grid-tied inverters for residential and small commercial/industrial users (1 kW–50 kW) under its product portfolio expansion plans. The move into inverters is part of a broader strategy to offer end-to-end solar solutions and achieve forward and backward integration.