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SAATVIK IPO

Saatvik Green Energy Limited

IPO Doc

Start Date19-09-2025

Application Timing10am-5pm

Price Range₹442 - ₹465

Min Qty32

Min. Investment₹14144

Listing Date26-09-2025

Close Date23-09-2025

About Saatvik Green Energy Limited

ncorporated in 2015, Saatvik Green Energy Ltd. is one of India’s leading solar module manufacturers and EPC (Engineering, Procurement, and Construction) solution providers. The company offers a wide portfolio of solar modules, including Monocrystalline PERC and N-TopCon modules in both monofacial and bifacial variants. These are suitable for residential, commercial, and utility-scale projects.

Saatvik commenced operations in 2016 with an annual capacity of 125 MW, which has now grown to 3.80 GW as of June 30, 2025. The company operates two state-of-the-art facilities in Ambala, Haryana, spread across 724,225 sq. ft.

The company has a strong workforce of over 600 employees and a reputed client base across India. Its consistent expansion, innovative technology, and growing order book position it as a key player in India’s renewable energy sector.

Why To Invest in Saatvik Green Energy Limited

Strong Revenue Growth: Revenue doubled from Rs. 1,097.18 crore in FY24 to Rs. 2,192.47 crore in FY25, with PAT rising by 113% in the same period.

Robust Margins: EBITDA margin stands at 16.40% and PAT margin at 9.76% (FY25), reflecting operational efficiency.

Market Leadership: Saatvik is among the leading module manufacturers in India with integrated EPC solutions.

Industry Tailwinds: India’s renewable energy sector is witnessing strong government support and rising demand for solar energy.

Capacity Expansion: Funds from the IPO will be used to set up a new 4 GW solar PV module facility in Odisha, strengthening growth prospects.

Attractive Return Ratios: ROE of 63.41% and ROCE of 60.45% indicate strong capital efficiency.

Financial Table

Period Ended	31 Mar 2025	31 Mar 2024	31 Mar 2023
Assets	1,635.74	688.04	263.00
Total Income	2,192.47	1,097.18	617.63
Profit After Tax	213.93	100.47	4.75
EBITDA	353.93	156.84	23.87
NET Worth	337.66	120.67	20.27
Reserves and Surplus	315.25	117.36	16.89
Total Borrowing	458.10	263.42	144.49

Strengths And Risks

Strong Revenue Growth: Saatvik Green Energy has reported rapid growth in revenue and profitability over the past three years, highlighting its financial strength and scalability.

Quality Customer Base: The company maintains a strong and reliable customer base, supported by long-term contracts with independent power producers.

Diversified Product Portfolio: With advanced solar technologies such as Mono PERC and N-TopCon modules, the company caters to residential, commercial, and large-scale solar projects.

Capacity Expansion: Saatvik continues to expand its manufacturing capacity, positioning itself well to capture future demand in the renewable energy sector.

Experienced Management: A capable management team and strong promoter holding ensure effective business strategy and leadership.

Policy Dependence: The renewable energy sector is heavily reliant on government policies and subsidies, which may impact future growth if regulations change.

High Borrowings: With a Debt-to-Equity ratio of 1.36 in FY25, the company carries significant borrowings that could affect financial stability.

Raw Material Sensitivity: Fluctuations in raw material prices for solar module manufacturing can directly impact profit margins.

Competitive Industry: The solar manufacturing industry is highly competitive, with pressure from both domestic and international players.

Equity Dilution: The post-issue equity dilution may affect earnings per share (EPS) and short-term shareholder returns.

FAQs

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Company

Astha Credit & Securities Pvt Ltd NSE, BSE & MCX SEBI Reg No:

INZ000187932

Membership ID:

NSE - 12227 BSE-6844 MCX - 40000 NSDL-IN303420 CDSL-94500

CIN:

U65929MP2003PTC016241

SEBI Depository Participant Reg No:

IN-DP-611-2021

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We do proprietary trading

Client Bank Account Details:

Sr. No	Name of Bank Account	Bank Account Number	IFSC Code
1	ASTHA CREDIT AND SECURITIES P LTD - USCNBA A/c	00620340000150	HDFC0000062

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SAATVIK IPO

About Saatvik Green Energy Limited

Why To Invest in Saatvik Green Energy Limited