Integrated Filing — IndAS



General information about company

Scrip Code 544526
NSE Symbol SAATVIKGL
MSEI Symbol NOTLISTED
ISIN INE13B501022
Name of company Saatvik Green Energy Limited
Type of company Main Board
Class of security Equity
Date of start of financial year 01-04-2025
Date of end of financial year 31-03-2026
Date of board meeting when results were approved 04-02-2026
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 28-01-2026
Description of presentation currency INR
Level of rounding used in financial results Lakhs
Reporting Type Quarterly
Reporting Quarter Third quarter
Nature of report standalone or consolidated Standalone
Whether results are audited or unaudited for the quarter ended Unaudited
Whether results are audited or unaudited for the Year to date for current period ended/year ended Unaudited
Segment Reporting Single segment
Description of single segment Engaged in the manufacturing of Solar Photovoltaic (PV) modules, Engineering, Procurement and Construction (EPC) and services, design, construction, procurement and commissioning of Solar Photovoltaic Water Pumping Systems (SPWPS) and Solar Inverter
Start date and time of board meeting 04-02-2026   15:20:00
End date and time of board meeting 04-02-2026   17:20:00
Whether cash flow statement is applicable on company
Type of cash flow statement
Declaration of unmodified opinion or statement on impact of audit qualification
Whether statement on deviation or variation for proceeds of public issue, rights issue, preferential issue, qualified institutions placement etc. is applicable to the company for the current quarter? No
No. of times funds raised during the quarter
Whether the disclosure for the Default on Loans and Debt Securities is applicable to the entity? No
Not Applicable



Financial Results Ind-AS

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-10-2025 01-04-2025
B Date of end of reporting period 31-12-2025 31-12-2025
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Standalone Standalone
1 Income
Revenue from operations 71,706.60 1,65,007.30
Other income 3,895.10 6,764.20
Total income 75,601.70 1,71,771.50
2 Expenses
(a) Cost of materials consumed 1,356.90 30,741.60
(b) Purchases of stock-in-trade 65,268.80 1,27,777.30
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade (2,323.70) (12,283.00)
(d) Employee benefit expense 1,973.10 5,931.80
(e) Finance costs 822.10 1,885.30
(f) Depreciation, depletion and amortisation expense 305.60 968.70
(f) Other Expenses
1 Other Expenses 2,818.50 9,669.20
Total other expenses 2,818.50 9,669.20
Total expenses 70,221.30 1,64,690.90
3 Total profit before exceptional items and tax 5,380.40 7,080.60
4 Exceptional items 0.00 0.00
5 Total profit before tax 5,380.40 7,080.60
6 Tax expense
7 Current tax 1,384.90 1,908.10
8 Deferred tax 7.40 28.40
9 Total tax expenses 1,392.30 1,936.50
10 Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement 0.00 0.00
11 Net Profit Loss for the period from continuing operations 3,988.10 5,144.10
12 Profit (loss) from discontinued operations before tax 0.00 0.00
13 Tax expense of discontinued operations 0.00 0.00
14 Net profit (loss) from discontinued operation after tax 0.00 0.00
15 Share of profit (loss) of associates and joint ventures accounted for using equity method 0.00 0.00
16 Total profit (loss) for period 3,988.10 5,144.10
17 Other comprehensive income net of taxes 2.80 (43.70)
18 Total Comprehensive Income for the period 3,990.90 5,100.40
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent
Total profit or loss, attributable to non-controlling interests
20 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent
Total comprehensive income for the period attributable to owners of parent non-controlling interests
21 Details of equity share capital
Paid-up equity share capital 2,542.20 2,542.20
Face value of equity share capital 2 2
27 Details of debt securities
22 Reserves excluding revaluation reserve
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations 3.4 4.38
Diluted earnings (loss) per share from continuing operations 3.39 4.37
ii Earnings per equity share for discontinued operations
Basic earnings (loss) per share from discontinued operations 0 0
Diluted earnings (loss) per share from discontinued operations 0 0
ii Earnings per equity share
Basic earnings (loss) per share from continuing and discontinued operations 3.4 4.38
Diluted earnings (loss) per share from continuing and discontinued operations 3.39 4.37
24 Debt equity ratio
25 Debt service coverage ratio
26 Interest service coverage ratio
27 Disclosure of notes on financial results Textual Information(1)



Disclosure of notes on financial results

Textual Information(1) 1. The Statement of Unaudited Standalone Financial Results of Saatvik Green Energy Limited (the 'Company') has been prepared in accordance with the recognition and measurement principles of Indian Accounting Standard 34 - Interim Financial Reporting prescribed under Section 133 of the Companies Act, 2013 (the Act) and other accounting principles generally accepted in India and presented in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ('Listing Regulations'). The Statement of Unaudited Standalone Financial Results of the Company have been reviewed by the Audit Committee and approved by the Board of Directors of the Company in their respective meetings held on February 04, 2026 and has been subject to limited review by the Statutory Auditors of the Company. 2. The Statement includes the results for the quarter ended December 31, 2024, being the balancing figures between Audited Special Purpose Interim Standalone Finanical Statements for the nine months ended December 31, 2024 and the year to date figures up to half year ended September 30, 2024, based on the information compiled by the management in accordance with Ind AS 34 and which have not been subjected to a review or audit by the statutory auditors. The figures for the nine months ended December 31, 2024 have been extracted from the Special Purpose Standalone Financial Statements which were audited by the Statutory Auditors of the Company and the figures for the year ended March 31, 2025 have been extracted from the General Purpose Standalone Financial Statements which were audited by the Statutory Auditors of the Company. 3. The Company is primarily engaged in the manufacturing of Solar Photovoltaic (PV) modules, Engineering, Procurement and Construction (EPC) and services, design, construction, procurement and commissioning of Solar Photovoltaic Water Pumping Systems (SPWPS) and Solar Inverter.  The Chief Operating Decision Maker (CODM) reviews the Company’s performance and allocates resources based on an overall assessment of the business as a single operating segment. Accordingly, no other reportable separate segment information is provided in accordance with the requirements of Ind AS 108 – Operating Segments. 4. During the quarter ended September 30, 2025, the Company has completed its initial public offer (IPO) of 19,359,079 equity shares of face value of INR 2 each at an issue price of INR 465 per share (including a share premium of INR 463 per share), comprising fresh issue of 15,058,004 equity shares aggregating to INR 6,999.99 million (including an employee discount of INR 44 per share) and offer for sale of 4,301,075 equity shares by selling shareholders aggregating to INR 1,999.99 million, totalling to INR 8,999.99 million. Pursuant to the IPO, the equity shares of the Company were listed on National Stock Exchange of India Limited (NSE) and BSE Limited (BSE) on September 26, 2025. The Company's share of total offer expenses are estimated to be INR 424.82 million (exclusive of GST) . The IPO proceeds (net of IPO expenses of INR 424.82 million) which were unutilised as at December 31, 2025 are temporarily invested in fixed deposits of scheduled commercial banks maintained in the monitoring agency account, and held in the public offer account. The utilization of the IPO proceeds in relation to fresh issue is summarized below: (Amounts are in INR Millions) Sr. No. Objects of the issue Amount to be Utilised Amount upto Unutilised Amount Utilised as per prospectus December 31, 2025 upto December 31, 2025 1. Prepayment or scheduled re-payment, in full or in part, of all or a portion of certain outstanding borrowings availed by our Company 108. 19 100.07 8.12 2. Investment in our wholly owned Subsidiary, Saatvik Solar Industries Private Limited, in the form of debt or equity for repayment/ prepayment of borrowings, in full or in part, of all or a portion of certain outstanding borrowings availed by such Subsidiary. 1,664.36 1664.36 0 3. Investment in our wholly owned Subsidiary, Saatvik Solar Industries Private Limited, for setting up of a 4 GW solar PV module manufacturing facility at National Highway – 16, Chamakhandi, Gopalpur Industrial Park, Gopalpur, Ganjam – 761 020, Odisha. 4772.27 1020.31 3751.96 4. General corporate purposes 30.36 12.72 17.64 5. Other Expenses 424.82 372.12 52.70 Total 7000.00 3169.58 3830.42 5. On November 21, 2025, the Government of India notified provisions of the Code on Wages, 2019, the Industrial Relations Code, 2020, the Code on Social Security, 2020 and the Occupational Safety, Health and Working Conditions Code, 2020 (‘Labour Codes') which consolidate twenty-nine existing labour laws into a unified framework governing employees benefits during employment and post-employment. The Labour Codes, amongst other things introduces changes, including a uniform definition of wages and enhanced benefits relating to leave. The incremental impact of these changes, assessed by the Company, on the basis of the information available, consistent with the guidance provided by the Institute of Chartered Accountants of India, is not material for the quarter and nine months ended December 31, 2025 and has been accounted for accordingly. Once Central / State Rules are notified by the Government on all aspects of the Codes, the Company will evaluate additional impact, if any, on the measurement of employee benefits and would provide appropriate accounting treatment. 6. The Unaudited Standalone Financial Results are available in the Investors section of our website at https://saatvikgroup.com and is also available on www.bseindia.com and www.nseindia.com.



Remarks

Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio


Format for Reporting Segment wise Revenue, Results and Capital Employed along with the company results

Amount in (Lakhs)

Particulars 3 months/ 6 month ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period 01-10-2025 01-04-2025
Date of end of reporting period 31-12-2025 31-12-2025
Whether results are audited or unaudited Unaudited Unaudited
Nature of report standalone or consolidated Standalone Standalone
1 Segment Revenue (Income)
(net sale/income from each segment should be disclosed)
Total Segment Revenue
Less: Inter segment revenue
Revenue from operations
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
Total Profit before tax
i. Finance cost
ii. Other Unallocable Expenditure net off Unallocable income
Profit before tax
3 (Segment Asset - Segment Liabilities)
Segment Asset
Total Segment Asset
Un-allocable Assets null null
Net Segment Asset null null
4 Segment Liabilities
Segment Liabilities
Total Segment Liabilities
Un-allocable Liabilities null null
Net Segment Liabilities null null
Disclosure of notes on segments



Other Comprehensive Income

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-10-2025 01-04-2025
B Date of end of reporting period 31-12-2025 31-12-2025
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Standalone Standalone
Other comprehensive income [Abstract]
1 Amount of items that will not be reclassified to profit and loss
1 Remeasurement of the net defined benefit liability/(assets) 3.80 (58.40)
Total Amount of items that will not be reclassified to profit and loss 3.80 (58.40)
2 Income tax relating to items that will not be reclassified to profit or loss 1.00 (14.70)
3 Amount of items that will be reclassified to profit and loss
Total Amount of items that will be reclassified to profit and loss
4 Income tax relating to items that will be reclassified to profit or loss 0.00 0.00
5 Total Other comprehensive income 2.80 (43.70)





Details of Impact of Audit Qualification

Amount in (Lakhs)

Whether results are audited or unaudited
Declaration of unmodified opinion or statement on impact of audit qualification
Auditor's opinion
Declaration pursuant to Regulation 33 (3) (d) of SEBI (LODR) Regulation, 2015: The company declares that its Statutory Auditor/s have issued an Audit Report with unmodified opinion for the period on Standalone results
Sr No. Audit firm's name Whether the firm holds a valid peer review certificate issued by Peer Review Board of ICAI Certificate valid upto