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On 6 Nov 2026, Saatvik Green Energy was priced at ₹358.60, or 26.5× trailing earnings, against an industry P/E of 15.5×, and the shares are 29% below their 52-week high. Its ROCE of 31% is the second-highest among the 7 largest Solar peers, and sales grew 95% a year over 3 years. Debt is 1.41× equity. It is a small-cap company with a market cap of ₹4,558 Cr, ranked 8th of 27 Solar companies by market cap; the shares fell 32% over the past year.

As of 6 Nov 2026Prices are delayed about 15 minutes; fundamentals are from the quarter ended Jun 2026.How we calculate this

past year
Open
₹353.40
Day high
₹363.35
Day low
₹342.50
Prev. close
₹358.55
Volume
66K

Health check

2 good · 1 fair · 3 to check
  • ReturnsBehind

    −32.1% over a year, better than 2 of 7 peers.

  • Price tagPricier

    P/E 26.5 vs industry 15.5.

  • GrowthStrong

    Sales +95.5%, profit +322.1% a year over 3 years.

  • ProfitabilityStrong

    ROCE 30.8% vs peer median 27.4%.

  • Balance sheetFair

    Debt 1.41× equity, interest covered 7.2×, Piotroski 5 of 9.

  • Red flags3 to check

    Quarterly profit down 95.3% on a year ago.

Compared with 7 industry peers. Computed from reported figures. Educational, not a recommendation.

Solar

26 listed peers. Screen the industry

Small cap

₹4,558 Cr, #8 of 27 in its industry by size.

Market sensitivity

Measuring against the NIFTY 50…

Key metrics

Last 12 months to Jun 2026: sales ₹4,293 Cr · profit ₹183 Cr
Market cap
₹4,558 Cr
Small cap
P/E
26.5
Industry 15.5
Price to book
3.34
Peers 4.38
Dividend yield
0.00%
ROE
14.0%
Peers 29.9%
ROCE
30.8%
Peers 27.4%
Debt to equity
1.41
Debt ₹1,963 Cr
EPS (TTM)
₹13.55
Face value ₹2
OPM (TTM)
9.7%
Net margin 4.3%
Sales growth
−44.2%
Latest quarter vs a year ago
Profit growth
−95.3%
Latest quarter vs a year ago
Price to sales
1.06
EV/EBITDA 14.9

Strengths and risks

Strengths

  • Return on capital employed of 30.8%.

Risks to check

  • Quarterly profit down 95.3% on a year ago.
  • Quarterly sales down 44.2% on a year ago.
  • P/E of 26.5 against an industry P/E of 15.5.

Derived automatically from reported figures. Not a recommendation.

About Saatvik Green Energy

Saatvik Green Energy Limited manufactures and sells solar photovoltaic modules in India and internationally. The company offers mono PERC and N-topcon modules; inverters; SuryaConnect Solar Kit, a pre-engineered turnkey solar kit; transformers; and solar cell technology products. It also provides solar pumps, such as solar submersible and surface pumps and controllers; and engineering, procurement, and construction services. In addition, the company…

Headquarters
Gurugram
Employees
722
Sector
Technology
ISIN
INE13B501022
Website
saatvikgroup.com

Price range

52 weeks

₹328.00₹502.80

Today

₹342.50₹363.35
Avg volume (3M)
1.2 L
1-year return
minus 32.1%
From 52-week high
minus 28.7%

Peers · Solar

Capital-heavy industry columns

Compare with peersScreen the whole industry
Company
WAAREEENERWaaree Energies2,438.00minus 0.46%70,12919.012.030.1%19.9%0.3157.8%minus 27.3%
PREMIERENEPremier Energies890.00plus 0.85%40,31622.517.427.4%29.9%0.8676.2%minus 15.3%
EMMVEEEmmvee Photovoltaic Power251.31minus 0.28%17,39912.19.734.5%34.7%0.25102.7%plus 14.5%
KARAMTARAKaramtara Engineering375.70minus 0.96%12,09152.827.718.1%9.0%0.9140.4%plus 6.7%
UTLSOLARFujiyama Power Systems351.80minus 9.21%10,81135.722.528.9%18.8%0.4158.7%plus 68.8%
BORORENEWBOROSIL RENEWABLES403.20minus 2.55%5,93413.412.19.5%30.1%0.0720.2%minus 37.6%
VIKRAMSOLRVikram Solar142.39plus 1.95%5,16014.16.020.5%15.4%0.2032.3%minus 56.6%
SAATVIKGLSaatvik Green Energy358.60plus 0.01%4,55826.58.930.8%9.7%0.6995.5%minus 32.1%
Median of 7 peers–−0.46%12,09119.012.127.4%19.9%0.3157.8%−15.3%

Quarterly results

Consolidated, ₹ crore
SalesSelect a row below to chart it
₹ CrJun 25Sep 25Dec 25Mar 26Jun 26
9167681,2571,608511
7426601,1041,500477
17410815310833.8
19.0%14.1%12.2%6.7%6.6%
415.211.498.7
1913.623.115.521.7
12.513.714.723.313.4
–––−3.9–
14696.212773.87.4
20.2%13.5%22.2%18.2%27.6%
11783.298.760.65.5
9.170.307.775.050.43

Profit & loss

Yearly, ₹ crore
Sales CAGR 3Y
+95.5%
Profit CAGR 3Y
+322.1%
EPS CAGR 3Y
+330.2%
ROE
14.0%
Net profitSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
6091,0882,1584,548
–+78.8%+98.4%+110.7%
5859291,7823,932
23.9159376616
3.9%14.6%17.4%13.6%
−0−2.2−14.5−35.5
10.614.244.271.3
6.610.731.264.2
0−0.2−1.9−3.7
6.7132284442
28.8%23.8%23.6%19.1%
4.7100217357
–+2016.2%+116.4%+64.4%
0.377.9017.1029.76

Forecast

Your assumptions, not a prediction

Balance sheet

At each financial year end, ₹ crore
Total assetsSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
3.43.422.425.4
16.91173181,336
153280503939
89.7288795814
2636881,6393,115
501503561,021
–32.936.5570
–4.4–2.8
11.843.75.432.6
2014571,2411,488
2636881,6393,115

Cash flow

Yearly, ₹ crore
Cash from operationsSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
543.642.6−26.7
−23.9−69.4−198−896
32.124.9149946
13.2−0.9−6.922.5
−23.8−60.3−187−601
−18.8−16.7−145−628

Shareholding pattern

Source: NSE filings
76.0%
promoters
  • Promoters75.99%
  • Public24.01%
  • As of 30 Sep 2026
QuarterSplitPromotersPublicPromoter change
30 Sep 202675.99%24.01%0.00
30 Jun 202675.99%24.01%0.00
31 Mar 202675.99%24.01%0.00
31 Dec 202575.99%24.01%0.00
30 Sep 202575.99%24.01%–

Major shareholders

NSE filing

Filings & events

News

No recent news coverage found.

My notes

Private to you