Saatvik Green Energy Limited reported a sharp decline in profitability in the second quarter of FY27, with consolidated net profit falling 76.15% year-on-year to ₹20.2 crore. However, revenue grew 17.53% to ₹902.6 crore, while the company achieved a major milestone with the start of commercial production at its new solar manufacturing facility in Gopalpur, Odisha.
Saatvik Green Energy reported a profit after tax (PAT) of ₹20.2 crore in Q2 FY27, compared with ₹84.7 crore in the same quarter last year. Revenue from operations increased to ₹902.6 crore from ₹768 crore in Q2 FY26.
The decline in profitability was mainly reflected in the company’s operating performance. EBITDA fell 44.89% to ₹69.6 crore, against ₹126.3 crore a year earlier. The EBITDA margin also narrowed to 7.71% from 16.45%, indicating pressure on operating margins.
Commenting on the company’s performance, CEO Prashant Mathur said the first half of FY27 was a period of investment ahead of future demand. He highlighted the company’s focus on customer commitments, manufacturing expansion, margins and working capital discipline.
A key development was the commencement of commercial production at Saatvik’s Gopalpur facility in Odisha on November 2, 2026. Around 1.3 GW of its Phase I solar module manufacturing capacity is now operational. The company expects the full 4 GW module capacity to become operational by December 2026. Trial runs have also started at its 2.4 GW solar cell manufacturing line.
The company’s confirmed order book stood at 6.68 GW, valued at approximately ₹8,800 crore, as of September 2026. During the first half of FY27, it secured new orders of 1.76 GW and executed around 0.97 GW.Saatvik also received a ₹1,041.63 crore order from the Solar Energy Corporation of India (SECI) for 600 MWp of solar modules.Beyond manufacturing, the company is expanding into hybrid inverters, lithium battery solutions and solar water pumping systems.
Although declining profits and lower capacity utilisation remain concerns, the Odisha facility is expected to strengthen domestic manufacturing and supply-chain integration. The company’s future performance will depend on production ramp-up, improved operational efficiency and timely execution of its large order book.
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