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 01-04-2026
Date of end of financial year 31-03-2027
Date of board meeting when results were approved 14-08-2026
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 06-08-2026
Description of presentation currency INR
Level of rounding used in financial results Lakhs
Reporting Type Quarterly
Reporting Quarter First 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
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 14-08-2026   14:15:00
End date and time of board meeting 14-08-2026   15:20:00
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 01-04-2026 01-04-2026
B Date of end of reporting period 30-06-2026 30-06-2026
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Standalone Standalone
1 Income
Revenue from operations 33,323.70 33,323.70
Other income 1,946.20 1,946.20
Total income 35,269.90 35,269.90
2 Expenses
(a) Cost of materials consumed 5,287.80 5,287.80
(b) Purchases of stock-in-trade 17,745.20 17,745.20
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade 7,636.00 7,636.00
(d) Employee benefit expense 1,291.50 1,291.50
(e) Finance costs 369.40 369.40
(f) Depreciation, depletion and amortisation expense 386.80 386.80
(f) Other Expenses
1 Other Expenses 1,639.60 1,639.60
Total other expenses 1,639.60 1,639.60
Total expenses 34,356.30 34,356.30
3 Total profit before exceptional items and tax 913.60 913.60
4 Exceptional items 0.00 0.00
5 Total profit before tax 913.60 913.60
6 Tax expense
7 Current tax 271.30 271.30
8 Deferred tax (43.40) (43.40)
9 Total tax expenses 227.90 227.90
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 685.70 685.70
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 685.70 685.70
17 Other comprehensive income net of taxes 43.40 43.40
18 Total Comprehensive Income for the period 729.10 729.10
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 0.54 0.54
Diluted earnings (loss) per share from continuing operations 0.54 0.54
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 0.54 0.54
Diluted earnings (loss) per share from continuing and discontinued operations 0.54 0.54
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 (formerly known as Saatvik Green Energy Private 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 August 14, 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 March 31, 2026, being the balancing figures between Audited Standalone Financial Statements for the year ended March 31, 2026 and the year to date figures up to nine months ended December 31, 2025, which were subject to limited review. 3.The Company is primarily engaged in the manufacturing of Solar Photovoltaic (PV) modules, Engineering, Procurement and Construction (EPC) services, design, construction, procurement and commissioning of Solar Photovoltaic Water Pumping Systems (SPWPS) and Solar Inverter.� The Chief Operating Decision Makers (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 March 31, 2026, the Company has reassessed the useful life of certain plant & machinery based on the technical evaluation and industry standards. Consequently, depreciation for the quarter and year ended March 31, 2026 was higher by INR 96.28 million. The Company had aslo identified impairment indicators for its Monoperc cash-generating unit ('Monoperc CGU') arising from rapid technological advancements in the solar module industry and a strategic shift in management focus; and has accordingly re-assessed the recoverable amount of the Monoperc CGU and recognised an impairment loss of INR 39.46 million during quarter and year ended March 31, 2026. 5. The Company has changed its accounting policy for valuation of Raw Materials, Finished Goods, and Work in Process from First In First Out (FIFO) to moving weighted average cost method w.e.f. March 31, 2026. The Company believes that this change to moving weighted average cost method is preferable as it reflects better matching of the actual cost flows with the physical flow of goods and also improves comparability with Company’s industry peers. Hence, it provides reliable and more relevant information to the users of financial statements about the Company’s inventory valuation. In accordance with Ind AS 8, Accounting Policies, Changes in Accounting Estimates and Errors, this change in method of accounting for inventories has been retrospectively applied to all previous period presented herein. Previous years comparative figures have been adjusted to reflect what results would have been had the company applied moving weighted average cost method of inventory valuation for inventories. The cumulative effect on retained earnings for these changes was INR 1.77 millions at 1st April, 2024. As a result of the change in the company’s accounting policy, Financial results for the quarter ended June 30, 2025 have been restated. The impact on change in accounting policy on Inventory has been adjusted by restating each of the affected financial statement line items for the change in policy as follows: S.No. Statement of profit and loss (extract) Quarter Ended June 30, 2025 1 Increase/(decrease) in Cost of materials consumed -22.22 2 Increase/(decrease) in Changes in inventory of Finished goods, 13.47 Traded Goods and Work-in-progress 3 Increase/(decrease) Profit before tax 8.75 4 Increase/(decrease) in tax expense - Deferred tax (Credit) / Charge -2.20 5 Increase/(decrease) Profit after tax 6.55 6 Change in EPS (Basic) (INR) 0.06 7 Change in EPS (Diluted) (INR) 0.06 6. During the year ended March 31, 2026, 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 June 30, 2026 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) S.No. Objects of the issue Amount to be utilised Utilised amount Unutilised amount as per the prospectus upto June 30, 2026 as at June 30, 2026 1 Prepayment or scheduled 108.19 100.07 8.12 re-payment, in full or in part, of all or a portion of certain outstanding borrowings availed by our Company 2 Investment in our wholly 1664.36 1664.36 0 owned Subsidiary, Saatvik Solar Industries Private Limited, in theform 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 3 Investment in our wholly 4772.27 2957.93 1814.34 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. 4 General corporate purposes 30.36 12.72 17.64 5 Offer expenses 424.82 376.4 48.42 Total 7000.00 5111.48 1888.52 7. 'During the quarter, the Company has entered into a Share Purchase Agreement (‘SPA’) to acquire 100% of the equity share capital of Melcon Transformers and Electricals Private Limited ('Melcon'). Pursuant to the SPA, the Company acquired 80% stake for INR 24.00 million, resulting in Melcon becoming subsidiary of the Company. The balance deferred consideration of INR 20 million (representing the estimated fair value of the remaining 20% stake) will be paid in next 2 years. 8. 'Previous year's figures have been regrouped / reclassified wherever necessary to correspond with the current year classification / disclosure. 9. 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 01-04-2026 01-04-2026
Date of end of reporting period 30-06-2026 30-06-2026
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 01-04-2026 01-04-2026
B Date of end of reporting period 30-06-2026 30-06-2026
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) 58.00 58.00
Total Amount of items that will not be reclassified to profit and loss 58.00
2 Income tax relating to items that will not be reclassified to profit or loss 14.60 14.60
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 43.40 43.40





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