Saatvik Green Energy Limited — Q1FY27 earnings call summary

Filed 18 August 2026 · Official transcript

Phase 2 cell capacity (3.6 GW) to start site activities by Q2 FY27, complete by FY28
Capex incurred INR1,000 Cr; total Phase 1 and 2 capex ~INR3,500 Cr; net debt expected to peak ~INR2,200-2,400 Cr
Margin pressure in Q1 due to lack of cell manufacturing, commodity, logistics, forex volatility, and selective order execution
Q1 FY27 production 408 MW, sales 334 MW; revenue INR5.11bn, EBITDA INR425mn (8.33% margin), PAT INR54mn
FY27 guidance: 3.5-4 GW sales, INR6,000 Cr revenue, 12% EBITDA margin, 6-7% PAT margin
Odisha Phase 1 cell (2.4 GW) and module (4 GW) manufacturing ramp-up starting Sep 2026; full 80% utilization expected by Q4 FY27
Integrated manufacturing and backward integration expected to improve margins significantly in H2 FY27 and beyond
Expansion into ancillaries like encapsulants, transformers, inverters, and storage targeting 15% revenue from non-module business by FY28