Saatvik Green Energy shares rose 5% on Wednesday following the announcement of a significant order from Solar Energy Corporation of India Limited (SECI). The renewable energy company received an order worth ₹1,041.63 crore for the supply of solar photovoltaic (PV) modules, with execution scheduled for December 2027. According to the company's regulatory filing, the order involves the supply of solar PV modules and is expected to be executed over the next 15 months. The company has clarified that the order does not constitute a related-party transaction and stated that neither the promoters nor members of the promoter group have any interest in the order.
The company's material subsidiary Saatvik Solar Industries has been actively securing orders in recent months. Earlier this month, the subsidiary received and accepted orders worth ₹297.5 crore from two independent power producers or EPC players for solar PV module supply, with completion expected by March 2027. The orders were received and accepted by Saatvik Solar Industries on September 3, according to an exchange filing by Saatvik Green Energy. As of June 30, 2026, Saatvik Green Energy's confirmed order book stood at 6.35 GW, equivalent to approximately 132% of installed module capacity. Together with the latest SECI order, these contracts point to a series of solar PV module supply orders with execution extending into 2027.
Despite recent gains, Saatvik Green Energy shares have shown mixed performance over different time periods. According to latest trading data, the stock had a muted debut on September 26, listing at ₹465 per share on the NSE against its issue price of ₹465 per share. The ₹900-crore IPO had garnered 6.57 times subscription between September 19-23 in the primary market. At 9:55 AM on Wednesday, the stock was trading 5.98% higher at ₹412.95 apiece on the BSE. However, over the past month, the stock has declined 2% and fallen 13% in three months, while over the past six months, it has gained 20%. The stock's current market capitalisation reflects the company's strong order book position despite recent performance challenges.
Despite the recent order wins, the company's financial performance has shown challenges in recent quarters. According to the latest financial results, Saatvik Green Energy's consolidated net profit declined 95.49% to ₹5.51 crore in Q1 FY27, compared to the previous year, impacted by a 44.20% fall in revenue from operations of ₹511.01 crore. The company had posted a net profit of ₹116.6 crore in the same quarter a year ago, while its revenue from operations had also decreased to ₹511.01 crore from ₹915.7 crore in the April-June period of the preceding fiscal year.
Currently, Saatvik Green Energy is trading at a market capitalisation of around ₹5,339 crore, with the stock touching an intraday high of ₹428.60 during Wednesday's session. The stock remains well below its 52-week high of ₹580, indicating potential upside from current levels. On valuation metrics, the company has a P/E ratio of 20.29, a Price-to-Sales ratio of 1.05, and a Price-to-Book ratio of 3.70. Technical indicators show the stock is currently trading above 5 of its 8 key Simple Moving Averages (SMAs), though it remains below its 50-day, 100-day and 150-day SMAs. Institutional holdings have shown positive momentum, with FIIs' holdings increasing from 0.03% to 0.19% during the June 2026 quarter, while mutual fund holdings rose from 10.10% to 10.48% during the same period.
