Saatvik starts Odisha module production; Q2 profit falls year on year
About 1.3 GW of module capacity has started commercial production at Gopalpur, while the solar cell line remains in trial runs, according to Saatvik.
Saatvik Green Energy said its subsidiary began commercial production of solar modules at Gopalpur, Odisha, on November 2, with approximately 1.3 GW of capacity operational. The company expects the full 4 GW first-phase module capacity to be operational by December 2026.
Trial runs have begun on the separate 2.4 GW solar cell line, with production ramp-up targeted for December. Its application for ALMM List-II enlistment remains subject to approval, the company said.
For Q2FY27, Saatvik reported revenue from operations of INR 902.6 crore, up 17.53% year on year. EBITDA declined 44.89% to INR 69.6 crore, while profit after tax fell 76.15% to INR 20.2 crore. EBITDA margin narrowed to 7.71% from 16.45%.
Although the release highlights a 77% sequential revenue increase, first-half revenue declined to INR 1,413.6 crore from INR 1,683.8 crore a year earlier. First-half PAT fell to INR 25.6 crore from INR 201.3 crore.
CEO Prashant Mathur described the half year as an investment phase and said the company was prioritising Odisha's ramp-up, customer deliveries, margins and working capital. Saatvik reported a confirmed order book of 6.68 GW at September-end.
