Saatvik Green Energy’s material subsidiary, Saatvik Solar Industries Private Limited, has secured three solar module supply orders aggregating to Rs 1,008.16 crore within a week. The company has received a Rs 476 crore order from Vikran Engineering Limited for the supply of solar photovoltaic modules. The order is scheduled to be executed by March 2027.
Saatvik Solar has also received a Rs 132 crore order from an independent power producer or EPC player for the supply of solar modules. This order is expected to be completed by January 2027. Earlier, on August 11, the company had secured another order worth Rs 400.16 crore from an IPP/EPC player, with execution scheduled by March 2027.
Order Flow Comes Amid Pressure On Module Margins
The latest orders come at a time when non-DCR module manufacturers are facing pressure from excess capacity and lower margins. Saatvik has not disclosed whether the new orders are for DCR or non-DCR modules. The company is also in the middle of an expansion cycle and is expected to begin solar cell manufacturing in the second half of FY27.
Saatvik closed FY26 with revenue of Rs 4,548 crore, up 111 per cent from the previous year. Revenue in the fourth quarter stood at Rs 1,607 crore, representing 75 per cent year-on-year growth. The company is scheduled to announce its Q1 FY27 results on August 14