Shares of Saatvik Green Energy jumped 4.5% on Friday to close at Rs419 apiece, marking the stock’s biggest single-day advance in more than a month, after the solar module maker disclosed a fresh Rs190 crore order win. The rally trimmed the stock’s monthly decline to 3.3%.
The company, in a post-market filing on Thursday, said its material subsidiary Saatvik Solar Industries had secured the contract to supply solar PV modules to a “renowned” independent power producer and EPC player. The awarding entity was not named in the regulatory filing, and the company confirmed that neither its promoters nor any member of the promoter group holds an interest in the awarding authority. The transaction does not qualify as a related-party deal.
The latest award marks the second significant contract for Saatvik in recent weeks. Just last week, the same subsidiary landed a Rs476 crore order from Vikran Engineering for solar PV module supply. In May, Saatvik had secured a Rs171.45 crore order from a domestic independent power producer for TOPCon bifacial glass-glass modules, a next-generation technology that generates electricity from both sides of a panel and delivers higher energy output than conventional single-sided modules.
The company has been building momentum on both the commercial and manufacturing fronts. Saatvik Solar Industries signed an initial pact with the Industrial Promotion and Investment Corporation of Odisha Ltd. to establish a 3.6 GW solar cell manufacturing facility at Gopalpur in Odisha’s Ganjam district. The proposed plant will be part of a broader expansion at Gopalpur, where Phase I of an integrated manufacturing complex is already advancing toward commissioning. The company said major construction and infrastructure work for Phase I has been completed, with equipment installation and testing now underway across the facility.
Saatvik Green Energy operates a 4.8 GW module manufacturing facility in Ambala, Haryana, and is developing a greenfield integrated site in Odisha with 4 GW of module capacity and 4.8 GW of solar cell capacity. The company serves utility-scale, commercial and industrial, EPC, and distributed solar segments.
The stock has been on a choppy path since its September 2025 debut, trading largely below its issue price. After an initial post-listing pop, shares slid below Rs330 in March before staging a recovery. From those lows, the stock has rebounded roughly 22% to Rs419, though it remains 14% below its issue price and 29.3% off its post-listing high of Rs567.
The rally comes against a difficult financial backdrop. For the June quarter, Saatvik reported a 95.45% plunge in consolidated net profit to Rs5.3 crore, down from Rs116.6 crore a year earlier. Revenue from operations fell to Rs511 crore from Rs915.7 crore in the same period last year.
Despite the weak quarterly numbers, the recent order flow has improved the company’s revenue visibility heading into the second half of the fiscal year. The two contracts announced in August alone total Rs666 crore, providing a meaningful pipeline for the company’s module manufacturing operations as it pushes toward commissioning its expanded Odisha capacity.
Once added, BigGo Finance appears first in Google Search Top Stories, so you get the broadest, most up-to-the-minute, and most comprehensive global financial news first.
The news and data on this website are for reference only and do not constitute investment advice or an offer to buy or sell. Information is sourced from exchanges and public sources, and may be delayed, interrupted, or updated. While we strive for accuracy, we do not guarantee timeliness, correctness, or completeness. Content may include external links for which we are not responsible. By using this site, you agree that we and our partners are not liable for any losses. Investment carries full responsibility; please carefully assess risks and consult professionals. If there are errors in the content, please contact us for correction.

source