Shares of Saatvik Green Energy declined over 6% on Thursday, May 21, despite the company reporting strong revenue growth for FY26. The stock was trading at ₹425.35, down 6.37% in early trade, as investors reacted to a sharp decline in quarterly profitability and margin compression.
Saatvik Green Energy reported revenue from operations of ₹1,607.7 crore for Q4 FY26, registering a 75% year-on-year increase from ₹918.9 crore reported in the corresponding quarter last year. Sequentially, revenue rose 27.9% from ₹1,257 crore in Q3 FY26, supported by higher execution and manufacturing scale-up across solar segments.
However, Profit After Tax (PAT) for the March quarter declined sharply to ₹60.4 crore from ₹94.7 crore in Q4 FY25. Sequentially, PAT fell 37.7% from ₹96.9 crore reported in the December quarter, indicating pressure on profitability despite strong top-line growth.
For the full FY26 period, Saatvik Green Energy reported revenue from operations of ₹4,548.4 crore, marking a 111% year-on-year jump from ₹2,158.4 crore in FY25. Annual PAT increased nearly 30% to ₹357.1 crore from ₹275.1 crore last year.
Despite the growth in profit, PAT margin declined to 7.85% in FY26 from 10.06% in FY25, reflecting margin pressure amid rapid business expansion and execution scaling.
The company said FY26 was its strongest operational year so far, with annual production reaching 3,162 MW and effective capacity utilisation of 84.07%. Management highlighted that the company benefited from manufacturing scale-up, strong order execution, and expanding customer relationships during the year.
Saatvik Green also reported strong momentum in its solar pumps business, with segment revenue increasing from ₹2 crore to ₹47 crore during FY26.
Commenting on the performance, CEO Prashant Mathur said FY26 was a defining year for the company following its stock market listing and record annual revenue, EBITDA, and PAT performance.
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