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Green Energy LimitedMain BoardEquity2025-04-012026-03-312026-05-20INRMillionsQuarterlyFourth quarterSingle segmentEngaged 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 Inverter2026-05-2015:40:002026-05-2017:30:00trueCash Flow IndirectDeclaration of unmodified opiniontruetrueNANAfalsetrue2024-10-24https://saatvikgroup.com/wp-content/uploads/2024/11/Saatvik-RPT-Policy-1.pdffalsefalseNot Applicable2026-01-012026-03-31AuditedStandalone6121470000488410000660988000077769000048654700005466000017938000063440000753700004016900006417700000192180000-3946000015272000063450000-253100003814000001145800000000114580000-941000010517000025422000020.960.95000.960.951. The Statement of Audited Standalone Financial Results of Saatvik Green Energy Limited (the 'Company') has been prepared in accordance with the recognition and measurement principles laid down in the applicable accounting standards 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 v33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ('Listing Regulations'). The Statement of Audited 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 May 20, 2026. <BR> <BR> 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. <BR> <BR> The Statement includes the results for the quarter ended March 31, 2025, being the balancing figures between Audited Standalone Financial Statements for the year ended March 31, 2025 and Audited Standalone Financial Statements for nine months ended December 31, 2024. <BR> <BR> 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 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. <BR> <BR> 4. 'During the quarter ended March 31, 2026, the Company reassessed the useful life of certain plant & machinery based on the technical evaluation and industry standards. Consequently, depreciation for the quarter and year is higher by INR 46.64 million. Further, the Company has identified impairment indicators for its Monoperc cash-generating unit (CGU) arising from rapid technological advancements in the solar module industry and a strategic shift in management focus. Accordingly, the Company re-assessed the recoverable amount of the CGU and recognised an impairment loss of INR 39.46 million. <BR> <BR> 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. <BR> <BR> 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 years 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. <BR> <BR> As a result of the change in the company’s accounting policy, Financial results as at March 31, 2024, March 31, 2025 and for the quarter ended December 31, 2025 have been restated. <BR> <BR> 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: <BR> <BR> Sr. No "Statement of profit and loss (extract) " "Quarter Ended " "Quarter Ended" "Year Ended v December 31, 2025 March 31, 2025 March 31, 2025" <BR> 1 Increase/(decrease) in Cost of materials consumed 0.38 14.28 14.28 <BR> 2 Increase/(decrease) in Changes in inventory of 7.82 0.24 0.24 <BR> Finished goods, Traded Goods and Work-in-progress <BR> 3 Increase/(decrease) Profit before tax (8.20) (14.52) (14.52) <BR> 4 Increase/(decrease) in tax expense - Deferred tax (2.06) (3.67) (3.67) <BR> (Credit) / Charge <BR> 5 Increase/(decrease) Profit after tax (6.14) (10.85) (10.85) <BR> 6 Change in EPS (Basic) (INR) (0.05) (0.10) (0.10) <BR> 7 Change in EPS (Dilued) (INR) (0.05) (0.10) (0.10) <BR> <BR> <BR> Following is the impact i.e. increase/ (decrease) of the said change in policy on each item of Balance Sheet: <BR> <BR> Sr. No Balance sheet (extract) " As at 1st April, 2024" "As at 31st March, 2025" <BR> 1 Increase/(decrease) in Inventories (2.37) (16.90) <BR> 2 Increase/(decrease) in Deferred tax assets (net) 0.60 4.27 <BR> 3 Increase/(decrease) in Other Equity (1.77) (12.63) <BR> <BR> <BR> <BR> 6. During the current year, 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. <BR> 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 March 31, 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: <BR> <BR> "Sr. <BR> No" Objects of the issue Amount to be utilised "Utilised amount upto" Unutilised amount" <BR> as per the prospectus March 31, 2026 as at March 31, 2026 <BR> 1. Prepayment or scheduled re-payment, in full or in part, of all or a portion of certain outstanding borrowings availed by our Company <BR> 108.19 100.07 8.12 <BR> 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 <BR> 1,664.36 1,664.36 - <BR> 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. <BR> 4,772.27 1,782.70 2,989.57 <BR> 4. General corporate purposes 30.36 12.72 17.64 <BR> 5. Offer expenses 424.82 372.12 52.70 <BR> Total 7,000.00 3,931.97 3,068.03 <BR> <BR> 7. 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 has been accounted for accordingly. The Company continues to monitor developments relating to the Labour Codes and will evaluate the impact, if any, on the remeasurement ofliabilities pertaining to employee benefits. <BR> <BR> 8. Subsequent to year end, the Company has entered into a share purchase agreement dated April 23, 2026 to acquire an 80% equity stake in "Melcon Transformers and Electricals Private Limited", Rajasthan - based transformer manufacturer for a consideration of INR 24 million. <BR> <BR> 9. 'Previous year's figures have been regrouped / reclassified wherever necessary to correspond with the current year classification / disclosure. <BR> 10. The Audited 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 <BR> <BR> For and on behalf of Saatvik Green Energy Limited 2025-04-012026-03-31AuditedStandalone22622200000116483000023787030000385223000017643200000-1165820000772560000251970000172240000136861000022894990000892040000-39460000852580000254260000-2453000022973000006228500000000622850000-13780000609070000254220000297911300005.25.19005.25.19Other Expenses401690000Other Expenses13686100003181600000025250700003920600000010100000393070000091420000131340000699669000020695900000316025000061580000885200004192700001093640000482326000099642000078892700001488596000025422000097911300001004535000010045350000112900001105600001218500008774000054000021013000015253500005384000025161500002569990000991800004194520000229860000162170000439300004630480000484061000014885960000Other non-current financial assets10100000Right-of-Use Assets115630000Other non-current assets15710000Other current financial assets1093640000Other current assets996420000Other non-current financial liabilities110560000Other non-current liabilities540000Lease Liabilities21060000Other current financial liabilities78120000Other current liabilities46070000Contract Liabilities183790000251970000-2216300006989800000-64886000000-3902600000-53780000010949000001722400000798300000-445000004461000002698800004034000035000000-143200000401900000-29406000055852000000053597000002255000002516000000039206000000000280000783400000000000000000000001332200000-52850000-6434290000006602570000000001126100000425800000234780000006437820000260800000260800003550000061580000Remeasurement of the net defined benefit liability/(assets)-12580000-12580000Remeasurement of the net defined benefit liability/(assets)-18420000-18420000-3170000-4640000-9410000-13780000Saatvik Green Energy Limited******Saatvik Solar Industries Private Limited******Wholly-owned SubsidiarySale of goods or services15000000000-8877230000285260000944360000(1) The approval of the Audit Committee has been obtained, wherever applicable. 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