Saatvik Green Energy Releases Q4FY26 Earnings Call Transcript
Saatvik Green Energy reported record FY26 revenue of ₹45,484 million, up 111% YoY, and PAT of ₹3,571 million, up 64% YoY. EBITDA was ₹5,811 million. The company is scaling solar cell manufacturing to 6 GW and expanding encapsulant capacity to 5 GW. The order book stands at 5.89 GW. Management anticipates margin improvement in H2 FY27.
The announcement details record financial results, significant capacity expansions, and strategic initiatives that are crucial for the company's growth trajectory and market position in the renewable energy sector.
The company reported record financial and operational performance for FY26, with significant year-on-year growth in revenue and profit. Strategic expansion plans and a robust order book indicate positive future prospects.
Saatvik Green Energy Limited has released the transcript of its earnings conference call held on May 21, 2026, to discuss the company's performance for the fourth quarter and the full financial year ended March 31, 2026.
During the call, Chairman and MD Mr. Neelesh Garg highlighted FY26 as a defining and transformational year, marked by record financial and operational performance and strategic execution. He emphasized the company's focus on backward integration and becoming a fully integrated clean energy manufacturing and solutions platform. The company has scaled its solar cell manufacturing ambition to 6 gigawatt and is progressing towards ingot and wafer manufacturing with a planned capacity of 6 gigawatt. The 2-gigawatt EPE encapsulant facility in Ambala was commissioned, with plans to expand this to 5 gigawatt.
Interim CFO Mr. Rishabh Mehtta reported that FY26 revenue from operations increased by 111% year-on-year to ₹45,484 million. EBITDA stood at ₹5,811 million (up 62% YoY) with a margin of 12.78%, and Profit After Tax (PAT) increased by 64% YoY to ₹3,571 million, with a PAT margin of 7.85%. Operationally, total production reached 3,162 megawatt and sales volumes were 3,138 megawatt. The debt-equity ratio improved significantly to 0.65 from 1.34 in FY25. For Q4 FY26, revenue was ₹16,077 million, with EBITDA at ₹1,166 million and PAT at ₹604 million.
Management discussed the impact of commodity price increases, including silver and aluminum, and rupee depreciation on input costs, which compressed margins in the recent quarter. They also provided an update on the ALMM-II and ALMM-III policies. The company expects margins to stabilize and improve in the second half of FY27, partly due to the commencement of cell production.
The company's order book remains robust at approximately 5.89 gigawatt as of March 2026, with an execution timeline of 18 months for most orders. Capex for FY27 is estimated at ₹1,700 crore for expansion, with FY28 capex projected at ₹1,800-₹2,000 crore for the 6-gigawatt ingot project. The debt-equity ratio is expected to remain between 1 and 1.5 times.
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