Shares of Saatvik Green Energy fell sharply following a significant drop in quarterly profits, contrasting previous strong growth, as the company reports weaker-than-expected operating trends despite expanding its manufacturing capacity and product offerings.
Saatvik Green Energy fell as much as 10% on Monday after the solar module maker reported a sharp drop in quarterly earnings, with investors reacting to weaker-than-expected operating trends and a steep fall in profitability.
According to the company’s latest results, revenue from operations slid 44.2% year on year to ₹511.01 crore in the June quarter, while net profit tumbled 95.5% to ₹5.36 crore. The decline also looked severe on a sequential basis, with sales down from ₹1,607.66 crore in the previous quarter and profit easing from ₹60.42 crore. The stock hit a lower circuit at ₹384.10, compared with its previous close of ₹426.75, as selling pressure intensified.
The latest numbers mark a sharp reversal from earlier periods of strong growth. Business Standard reported that Saatvik’s net profit rose 144.05% in the December 2025 quarter, while sales increased 142.58% to ₹1,257.02 crore. In the quarter to June 2025, the company had also reported a 459% jump in profit and a 272% rise in revenue, underscoring how quickly the cycle has turned.
Even so, the company said its confirmed order book stood at about 6.35GW, or roughly 132% of its current 4.8GW module manufacturing capacity. Saatvik has been expanding its integrated manufacturing base in Odisha, where its 2.4GW cell line is expected to begin ramping up soon and the 4GW module line is scheduled to start by the end of August. The company also plans a second phase that would add 3.6GW of cell capacity, taking total output to 6GW, followed later by an ingot and wafer phase.
Beyond manufacturing, Saatvik has been broadening its product and services mix. During the quarter it launched the Saatvik SuryaConnect Solar Kit and the Saatvik UDAY Plus Hybrid Inverter, while also building out its presence in engineering, procurement and construction, transformers, battery energy storage systems and distributed solar products. Management has said the near-term focus will be on ramping production, executing the order book and improving efficiency as it pushes deeper into India’s clean-energy market.
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