Saatvik Green Energy Limited has informed the Exchange about Transcript
SAATVIKGL · price
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Saatvik Green Energy reported record FY26 performance with revenue of Rs 45,484 million (up 111% YoY), EBITDA of Rs 5,811 million (margin 12.78%), and PAT of Rs 3,571 million (margin 7.85%). Production reached 3,162 MW with 84%+ capacity utilization. However, Q4 margins were compressed due to rising commodity costs (especially silver), rupee depreciation from 88 to 94 per dollar, and geopolitical disruptions causing input cost volatility. Management guided FY27 capex of Rs 1,700 crore for cell expansion and Rs 1,800-2,000 crore in FY28 for ingot manufacturing. The 2.4 GW cell line will start production in H2 FY27, scaling to 6 GW total capacity by mid-2027. The company expects margins to improve in H2 FY27 as cell manufacturing begins and market conditions stabilize. Order book stands at 5.89 GW worth approximately Rs 8,000 crore with 18-month execution timeline.
The strong order book provides revenue visibility, but near-term margin pressure from commodity inflation and currency weakness may weigh on near-term profitability. The backward integration into cell manufacturing, expected to begin H2 FY27, should significantly improve margins and competitive positioning in the DCR segment. Higher capex requirements will increase leverage to 1.0-1.5x debt-equity but within manageable levels.