The call ran from 6:01 PM to 6:52 PM IST (51 min).
Key takeaways
Q2 revenue rose 77% QoQ on volume recovery, but H1 revenue fell 16% YoY and Q2 profit fell 76% YoY. Leverage rose sharply, and the FY27 guidance needs a steep H2 ramp.
| Revenue growth | Q2 up 77% QoQ, 17% YoY; H1 down 16% YoY. |
|---|---|
| Margins | H1 EBITDA margin 7.9%; Q2 7.7% vs 8.3% in Q1; FY27 guided about 12%. |
| Order book | 6.68 GW, about 110% of installed module capacity; 60% DCR, 40% non-DCR. |
| Demand visibility | Strong: about 50 GW FY27 demand; 6.68 GW order book, about 110% of module capacity. |
| Management confidence | Balanced to optimistic; candid on leverage, bullish on FY27 targets. |
Growth
Q2 revenue ₹902.6 Cr: +77% QoQ, +17% YoY. H1 revenue ₹1,413.6 Cr, -16% YoY. Q2 PAT ₹20.2 Cr vs ₹84.7 Cr a year ago.
Outlook
FY27 revenue guided at about ₹6,000 Cr with about 12% EBITDA margin, vs 7.9% in H1. Odisha cell ramp targeted for December 2026.
Risks
Debt-to-equity 1.37x vs 0.44x a year ago. Module utilisation only 58.5%. FY27 guidance implies roughly ₹4,590 Cr of H2 revenue, about 3.2x H1.
Last quarter's promises, checked
Partly delivered
- FY27 rev ~₹6,000 Cr → H1 ₹1,413.6 Cr, H2 needs ~₹4,590 Cr (= PARTIAL)
- FY27 EBITDA ~12% → H1 7.9% (= PARTIAL)
- FY27 PAT 6–7% → Q2 PAT ₹20.2 Cr on ₹902.6 Cr (= PARTIAL)
Missed
- ALMM-2 inspection Sep 2026 → still pending (= MISS)
- Cell ramp-up late Aug/early Sep 2026 → Dec 2026 target (= MISS)
- Non-solar 7–10% of revenue → ~4% (= MISS)
Summary by ALFA Finder, written with AI assistance from our own recording of the call, published . Open it on ALFA Filings ›
The results behind this call
Saatvik Green Energy Q2 FY27 Results: Net Profit ₹20.2 Cr, Down 76.2% YoY
Saatvik Green Energy Ltd reported revenue from operations of ₹902.6 Cr (+17.5% YoY) and net profit of ₹20.2 Cr (-76.2% YoY) for Q2 FY27.
- Key figure
- Net profit ₹20.2 Cr · -76.2% YoY
What management said last time
Full summary →From the call summary published .
Outlook they gave
Guided FY27 revenue of ₹6,000 Cr with 12% EBITDA and ₹3500 Cr total capex.
Growth they described
Sharp decline in sales volume (334MW vs 579MW YoY) led to poor revenue growth.
Call details
| Company | Saatvik Green Energy Ltd |
|---|---|
| NSE symbol | SAATVIKGL |
| ISIN | INE13B501022 |
| Call | Q2 FY27 earnings call |
| Date | Thursday, 5 November 2026 |
| Time | 6:00 PM IST |
| Length | 51 min |
| Audio | Our stream on YouTube ↗ |
Saatvik Green Energy Ltd: key numbers
- Share price
- ₹358.55
- Market cap
- ₹4,557 Cr
- Revenue (annual)
- ₹4,548 Cr
- Net profit (annual)
- ₹357.3 Cr
- P/E (TTM)
- 18.4×Sector 43.7×
- Promoter holding
- 75.99%+0.00% QoQ
- FII holding
- 0.12%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
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