Shares of Saatvik Green Energy Limited hit a 10% upper circuit on Wednesday at Rs 551.70 after the company reported strong financial performance for the quarter ended June 2025 (Q1FY26).
The renewable energy company posted a net profit of Rs 118.8 crore, up sharply from Rs 21.2 crore in the same period last year. Revenue jumped 272% year-on-year to Rs 915.7 crore from Rs 246 crore, driven by robust demand for solar PV modules and strong execution across projects.
Saatvik also announced new orders worth Rs 488 crore from leading independent power producers and EPC companies for the supply of solar PV modules, to be executed within FY26. Additionally, its subsidiary, Saatvik Solar Industries, secured orders totaling Rs 219.62 crore from three major clients in the sector.
The company, which made its market debut on September 26 at its IPO price, plans to invest Rs 477.23 crore from its fresh issue proceeds into setting up a 4 GW solar PV module manufacturing facility at Gopalpur Industrial Park, Odisha. Another Rs 166.44 crore will be infused into its subsidiary to repay or prepay outstanding borrowings.
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