Saatvik Solar bags ₹639cr solar module supply contracts
Saatvik Green Energy's arm, Saatvik Solar Industries, just landed big contracts worth nearly ₹639 crore to supply solar PV modules.
These deals, awarded by three independent power producers and EPC companies, are set to be fulfilled by June 2026.
The announcement comes right after Saatvik's first quarterly earnings report since its stock market debut on September 26.
Revenue soared to ₹915.7 crore in June quarter
Saatvik's revenue for the June 2024 quarter soared to ₹915.7 crore—way up from ₹245.9 crore last year.
EBITDA also climbed, hitting ₹176.9 crore and margins improving to almost 20%.
Managing Director Manik Garg says they're focused on keeping this growth going and maintaining solid margins.
Investors seem to agree: Saatvik's share price has jumped 22% in the past month, closing at ₹536 on Tuesday.