Saatvik Green Energy Limited has informed the Exchange about Investor Presentation
Ref.: SGEL/SE/2025-26/13
October 09, 2025
To, Listing Department BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street Mumbai – 400001
To, Listing Department National Stock Exchange of India Limited Exchange Plaza, C-1, Block G, Bandra Kurla Complex Bandra (E), Mumbai – 400 051
Scrip Code: 544526
Symbol: SAATVIKGL
Sub: Investor Presentation on Unaudited Financial Results (Standalone and Consolidated) for
the quarter ended on June 30, 2025
Dear Sir(s)/Madam,
Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Please find enclosed Investor Presentation on the Unaudited Financial Results (Standalone and Consolidated) of the Company for the quarter ended June 30, 2025
The Investor Presentation is also available on the website of the Company https://saatvikgroup.com/
The same is for your information and records please.
Thanking you,
For Saatvik Green Energy Limited (Formerly known as Saatvik Green Energy Private Limited)
Bhagya Hasija Company Secretary & Compliance Officer
Enc.: a/a
Saatvik Green Energy Limited (formerly known as Saatvik Green Energy Private Limited) (a Saatvik Group Company) Corporate Office: Tower A, IFFCO Complex, Plot No. 3, Institutional Area, Sector 32, Gurugram, Haryana- 122001, Tel.: 1800-547-1151 | W.: www.saatvikgroup.com | E.: info@saatvikgroup.com| CIN: U40106HR2015PLC075578 Registered Office: Village Dubli, V.P.O. Bihta, Tehsil Ambala, Haryana- 133101, India
Saatvik Green Energy Limited
Q1 FY26 Results Earnings Call
Disclaimer
This presentation and the accompanying slides (the “Presentation”), which have been prepared by Saatvik Green Energy Limited (the “Company”), are solely for information purposes and do not constitute, and should not be construed as, any offer, recommendation, or invitation to purchase or subscribe for any securities. Nothing contained in this Presentation shall form the basis of, or be relied upon in connection with, any contract or binding commitment whatsoever. Any offering of securities of the Company, if made, will be by means of a statutory offering document containing detailed information about the Company.
This Presentation has been prepared based on information and data which the Company considers reliable; however, the Company makes no representation or warranty, express or implied, regarding the accuracy, completeness, fairness, or reasonableness of the contents of this Presentation. The Company expressly disclaims any liability in respect of any loss or damage arising from the use of, or reliance on, this Presentation or its contents. This investor may consider material. Presentation may not be all
inclusive and may not contain all of the
information that a prospective
Certain statements in this Presentation, including those relating to the Company’s business prospects, future opportunities, growth strategy, competitive strengths, and industry outlook, may be forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties, and assumptions, many of which are beyond the Company’s control and difficult to predict. Such risks and uncertainties include, but are not limited to: general economic conditions in India and international markets, industry performance, competitive pressures, the Company’s ability to successfully implement its strategy, technological developments, regulatory changes, availability or withdrawal of governmental incentives, fluctuations in revenue, income or cash flows, and exposure to market risks.
Actual results, performance, or achievements of the Company may differ materially from those expressed or implied in such forward-looking statements. The Company assumes no obligation to update or revise any information contained in this Presentation, including forward-looking statements, whether as a result of new information, future events, or otherwise.
All maps, charts, data, and visuals in this Presentation are not to scale and are provided “as is” without any warranty, express or implied, as to their accuracy, completeness, or timeliness.
2
TABLE OF CONTENT
01
Result Highlights
02
About us
03
Industry Highlights
04
Financial performance and Business Updates
05
Sustainability Activities and Community Empowerment
3
Result Highlights
4
RESULT HIGHLIGHTS - Q1FY26
Revenue from Operations
EBITDA
Profit After Tax
INR 9,157.28 Mn +272.28 % Year on Year
INR 1,810.58 Mn +346.04 % Year on Year
INR 1,188.24 Mn +459.30 % Year on Year
Return on Equity
ROCE
Debt Equity Ratio
25.98 % (Not Annualized)
24.32 % (Not Annualized)
1.28 (Improved leverage from 1.36 in FY25)
5
About us
6
ABOUT US
2025
2024
2016
2015
Incorporated the company as 'Saatvik Green Energy Private Limited'
Commenced manufacturing operations with annual installed capacity of 125 MW
2022
Launched EPC Services & MonoPerc
Recognized as Top 3 leading solar module supplier in India Quarter-1 organised by JMK Research and Analytics
2023
Expanded operations to North American market.
Awarded ‘Best Performing Solar Module Manufacturing Company of the year’ at Annual Solar Awards, 2023 organized by EQ
Launched TOPCon technology
Bagged CC+ rating in PV Module Tech Bankability Ratings Quarterly by PV Tech Research.
Recognised as 'Top Performer - 2024' by PV Evaluation Labs in the PV Module reliability scorecard
Expansion of new plant of 2 GW capacity
7
MANUFACTURING CAPACITY (in MW)
3,742
2,742
1,750
125
285
460
465
564
2016-19 2019-21 2021-22 2022-23 2023-24 Apr'24 Dec'24
Jun'25
Note: Added a capacity of 1.00 GW in Ambala, in Q2FY26
8
Leading Module Manufacturers in India offering Integrated Solutions to Independent Power Producers
One of the few companies with capabilities in Module manufacturing as well as EPC and O&M services
1
• Early adopter of technology - Among the first ones to adopt N- TopCon and Mono PERC technologies in India.
• Consistently offering innovative solar modules.
Note 1. Solar cell facility to be operational by Q3FY27
9
RECOGNISED WITH GLOBAL CERTIFICATIONS, HIGHLIGHTING PRODUCTS HIGH QUALITY
Manufacturing facility has obtained various certifications
Credit rating
CRISIL A- rated as on April 21, 2025
Product Certifications
IEC 61215:2005
IEC 61215-2:2021
Crystalline silicon terrestrial photovoltaic (PV) modules (poly- crystalline)
PV module type, with mono-crystalline solar cells
UL 61730-1:2022, UL 61730-2:2022 For photovoltaic (PV) module from domestic and international bodies such as UL India Private Limited
Certified by multiple International certification bodies for quality & performance, further facilitating the generation of business from international customer
Cleared the test criterion for PVEL KIWA
Bagged CC+ rating in PV Module Tech Banakability Ratings Quarterly by PV Tech Research
10
MARKETING STRATEGY
We implement a range of marketing strategies to strengthen our presence in the solar energy sector, broadening our product range, and advocating our sustainability.
Extract of Bombay Times
We have engaged Kartik Aaryan, a popular actor in India to serve as our brand ambassador.
11
MANAGEMENT TEAM
Neelesh Garg Promoter, Chairman & Managing Director
Manik Garg Promoter & Managing Director
Prashant Mathur Chief Executive Officer
Abani Kant Jha Chief Financial Officer
• Over 9 years of experience in the
renewable energy sector
• Responsible for handling, defining
strategy as well as establishing technical parameters & operating procedures
• B.Tech. in computer science & engineering from the IIT, Delhi.
• Master’s degree in science
(management and strategy) from the LSE
• Responsible for handling matters related to finance and economics
• Successfully completed 36th session of
the program for leadership development from Harvard Business School
• B.Com (honours) from the University of
Delhi
• MSc. (finance) from the LSE
• Over 21 years of experience in
• Over 21 years of experience in finance
renewable sector
• Previously associated with Mundra
Solar PV Limited1, Vikram Solar Private Limited, Targray India Private Limited and Solis Solar Group.
• Bachelor’s degree in textile engineering from Amaravati University & Master's degree in management studies from Rizvi Institute of Management Studies of University of Mumbai
sector
• Previously associated with Intangles Lab Private Limited, Aditya Birla Chemicals (Thailand) Limited, Ease Trip Planners Private Limited, Reliance Retail Limited, Container Rail Road Services Private Limited and Upcurve Consumer Technologies Private Limited
• CA & MBA from GlobalNxt University,
Malaysia
Note: 1. Formerly known as Adani Solar; B.Tech – Bachelor’s Degree (Technology), IIT – Indian Institute of Technology, B.com – Bachelor’s degree in commerce, LSE – London School of Economics and Political Science, MSc. – Master’s degree in Science, MBA – Masters’ Degree in Business Administration
12
MANAGEMENT TEAM
Bhagya Hasija Company Secretary & Compliance Officer
• Over 9 years of experience in
secretarial sector
• Previously associated with Dalmia Cement (Bharat) Limited and Heidelberg Cement India Limited. • Associate member of Institute of Company Secretaries of India.
Sudhir Kumar Bassi Independent Director
Sarita Rajesh Zele Independent Director
Narendra Mairpady Independent Director
• Over 32 years of experience in the
security markets
• Presently serving as Executive Director (Capital Markets) with Khaitan & Co. and member of primary market advisory committee of SEBI since 2022. • Previously associated with PNB Capital Services, JM Morgan Stanley Limited and Morgan Stanley India Private Limited.
• Previously associated with MIT World Peace University, Waaree Energies Limited and IIT, Bombay
• 5 years Integrated M.Tech. in chemical
engineering from IIT, Bombay & Doctorate degree in philosophy from University of Pittsburgh.
• Over 21 years of experience in the
banking sector
• Previously associated with Adani
Enterprises Limited, IPCA Laboratories Limited, LIC Finance Limited, Sequent Scientific Limited, Mahindra Manulife Trustee Pvt. Ltd., Manappuram Home Finance Limited among many others.
• B. Com & L.L.B. from University of
Mysore.
13
Industry Highlights
14
Well-Positioned to Capture Favorable Industry Tailwinds
Increase in Energy demand by Fiscal 2030 (in BU)
Renewable energy capacity of over 190GW-200GW is expected to be installed between FY25-30P at a CAGR of 16- 17%
Energy Requirement
Energy Availability
Energy Demand CAGR: 5.5 - 6.0%
1,627
1,623
1,694
1,692
1,783
1,785
1,900
1,907
1,995
2,000
2,100
2,105
2,250
2,252
10%
11%
Coal
Solar
Wind
3%
5%2%
3%
3%2%
8%
35%
FY25 475 GW
47%
Large Hydro
11%
FY30P 700-725 GW
FY24
FY25
FY26P
FY27P
FY28P
FY29P
FY30P
22%
Oil & Gas
38%
Nuclear
Other RE
Source: CRISIL Report, Internal Assessment
15
Well-Positioned to Capture Favorable Industry Tailwinds
Growth Drivers for Solar Sector in India
Pradhan Mantri Kisan Urja Suraksha evam Utthan Mahabhiyan (PM KUSUM) Scheme
Offers central government subsidies of up to 30-50% for installing standalone solar pumps and solarizing existing grid-connected pumps
PM Surya Ghar Muft Bijli Yojna
Scheme has proposed outlay of INR 750 Bn & aims to light up 10 Mn households by providing upto 300 units of free electricity every month
Central Public Sector Undertaking (CPSU) Scheme Phase – II 12GW
Scheme offers Viability Gap Funding (VGF) upto INR 7 Mn per MW to incentivize participation & address project cost viability concerns
Source: CRISIL Report, Internal Assessment
16
Financial Performance and Business Updates
17
SUMMARY OF FINANCIAL PERFORMANCE
Revenue from Operations (INR Mn)
EBITDA (INR Mn)
Growth: 272.28% 9189.37
9157.28
EBITDA Margin %
16.50%
16.78%
19.77%
Growth: 346.04%
1810.58
1541.89
2459.76
405.92
Q1FY25
Q4FY25
Q1FY26
Q1FY25
Q4FY25
Q1FY26
18
SUMMARY OF FINANCIAL PERFORMANCE
PAT (INR Mn)
Debt/Equity (x)
PAT Margin %
8.64%
9.92%
Growth: 459.30%
912.03
12.98%
1188.24
2.18
1.36
1.28
212.45
Q1FY25
Q4FY25
Q1FY26
FY24
FY25
Q1FY26
19
SUMMARY OF FINANCIAL PERFORMANCE
Net Debt (INR Mn)
ROCE & ROE (%)1
CRISIL A- rated as on April 21, 2025
4,941.88
2,624.76
5,951.78
ROCE %
ROE%
83.20%
64.07%
60.45%
63.41%
25.98%
24.32%
FY24
FY25
Q1FY26
FY24
FY25
Q1FY26
Note: 1. Q1FY26 ROCE and ROE are not annualized.
20
SUMMARY OF FINANCIAL PERFORMANCE
Capacity Utilization
Strong Production
81.47%
high-capacity utilization in Q1FY26
685.03 MW
Actual Production
21
ORDER BOOK AND MODULES REVENUE MIX
Strong Order Base
Technology wise Modules Revenue Mix2
4.05 GW
Current Order Book of Solar PV Modules1
0.19% 3.91%
95.90%
28.22%
71.78%
0.49%
78.27%
40.36%
18.80%
FY23
FY24
FY25
Q1FY26
Mono PERC modules
Poly modules
N-TopCon modules
Note: 1. As on June 25. 2. As percentage of Revenue from Operations
22
FINANCIAL RESULTS
Consolidated Statements of Profit and Loss :
Particulars
Revenue from operations Other income Total income (I + II) Expenses (a) Cost of materials and services consumed (b) Purchase of Stock-in-Trade (c) Changes in inventories of finished goods, stock-in -trade and work-in-progress (d) Employee benefits expense (e) Finance costs (f) Depreciation and amortization expense (g) Other expenses Total expenses Profit before tax Tax expense (i) Current tax (ii) Deferred tax Total tax expense Profit for the period/year Other comprehensive income (i) Items that will not be reclassified to profit or loss: - Remeasurement of net defined benefit liability - Income tax on above (ii) Items that will be reclassified to profit or loss: - Net loss due to foreign currency translation differences - Income tax expense relating to the above Restated Total other comprehensive income (i + ii) Total comprehensive income for the period/year (after tax)
June 30, 2025 (Unaudited)
9,157.28 40.06 9,197.34
7,261.56 115.29 (933.72) 276.75 190.44 124.59 666.88 7,701.79 1,495.55
272.37 34.94 307.31 1,188.24
(11.54) 2.88
(0.01) - (8.67) 1,179.57
Quarter Ended
March 31, 2025 (Audited) 9,189.37 30.15 9,219.52
4,182.58 2,395.24 163.36 264.59 146.13 119.35 671.86 7,943.11 1,276.41
298.28 66.10 364.38 912.03
(1.00) 0.29
0.02
- (0.69) 911.34
June 30, 2024 (Audited)
2,459.76 81.18 2,540.94
1,581.54 582.40 (424.42) 79.35 66.47 43.46 316.15 2,244.95 295.99
102.83 (19.29) 83.54 212.45
(1.51) 0.40
-
- (1.11) 211.34
Figures in INR Mn
Year Ended March 31, 2025 (Audited) 21,583.94 340.71 21,924.65
11,368.04 4,766.69 (190.37) 587.70 423.48 311.61 1,853.27 19,120.42 2,804.23
666.38 (1.45) 664.92 2,139.30
(7.27) 1.84
(0.60)
- (6.03) 2,133.27 23
CAPACITY EXPANSION PLANS
Expanding plans and Backward Integration
Operates One of the Largest Single Location Module Plant in India
2025
Expanded to 3.80 GW as of June’2025
2019-2024
Made continuous additions in capacity going from 285 MW in 2020 to 564MW in 2024
2017
Commenced business operations with installed capacity of 125 MW in March’2017
2026
2027
Added a capacity of 1.00 GW in Ambala in the 2nd quarter of FY26
Expanding in Odisha with plans to set up 4.00 GW module capacity to be operational in FY26
Setting up cell facility in Odisha of capacity 4.80 GW to be operational in FY27
24
WAY FORWARD
Strategic Initiatives for future growth
Backward integration into “Cell Manufacturing”
Maintain Our Position in the Solar Industry and Focus on Growing Share of Export Sales & EPC Services Internationally while Expanding Customer Base in India and Internationally
Continue to Develop and Reinforce Technology to Manufacture Quality Modules
Expand Distribution Network across India and Create Retail Brand for Solar Panels
Entering into new segments
25
UN SDG Aligned Sustainability Activities & Community Empowerment
SDG ALIGNED SUSTAINABILITY INITIATIVES
Comprehensive employee health programs including regular check-ups, medical camps, and occupational safety training.
Educational CSR: Developing smart classrooms in government schools, providing scholarships, installing safety infrastructure and technical solar technology training for local youth.
Equal opportunity employment practices with special safety support initiatives for girls in educational institutions. Board diversity achievement: 2 out of 6 board positions held by women, demonstrating commitment to gender representation in leadership.
Advanced water management: 350 KL rainwater harvesting capacity and 40 KLD water treatment facility targeting Zero Liquid Discharge (ZLD). Installing RO units for safe drinking water in rural Gram Panchayats.
Leading by example with rooftop solar installations across internal operations and manufacturing plants, demonstrating renewable energy adoption.
Comprehensive skill-building programs ensuring safe working conditions and structured employee growth pathways. Focus on professional development and career advancement opportunities.
27
SDG ALIGNED SUSTAINABILITY INITIATIVES
Technology excellence through energy-efficient equipment deployment including IE3+ motors, advanced compressors, and comprehensive LED lighting systems. Dedicated R&D team focusing on circular economy solutions
Comprehensive waste management: Systematic waste segregation, hazardous waste handling, and e-waste recycling through CPCB authorized vendors. Full RoHS compliance ensuring harmful substance restrictions.
Significant renewable energy adoption with 1,600 KW solar installations, directly reducing GHG emissions and carbon footprint.
Environmental stewardship through extensive tree plantation initiatives across factory peripheries, enhancing biodiversity and green cover
Governance excellence: Comprehensive Code of Conduct, anti-bribery policies, whistleblower mechanisms, and robust data privacy protections. Strong oversight and governance frameworks.
Strategic collaborations with NGOs, training institutions, CSR partners, and industry associations for maximum impact and knowledge sharing.
28
COMMUNITY EMPOWERMENT ACTIVITIES
2 Smart Classrooms, Rajkiy Vidyalaya, Itawa Bhopji, Rajasthan
Running Eye Care Unit at Sri Sathya Sai Manav Seva
Solar PV installed at Dr Jai Dev Memorial hospital Ambala
Safe Drinking water project, Itawa Bhopji, Rajasthan
Education Sponsorship through Bhartiya Vidya Bhavan, Chandigarh
27 CCTV cameras for girl student safety
29
THANK YOU
SAATVIK GREEN ENERGY LIMITED Registered Office : Vill. Dubli, V.P.O Bihta Tehsil, Ambala – 133 101, Haryana, India Corporate Office : Tower A, IFFCO Complex, Plot No. 3, Sector 32, Gurugram-122 001 Haryana, India Telephone : 0124-3626755 Email : investors@saatvikgroup.com Website : https://saatvikgroup.com/