Saatvik Solar Industries, a subsidiary of Saatvik Green Energy, has won a ₹6.38 billion (~$67.35 million) order to supply G12 R solar cells from a solar module manufacturer.
The delivery of the modules is expected to be completed by March 2027.

The company also received two orders aggregating ₹140 million (~$1.48 million) and ₹144.8 million (~$1.53 million) from two independent power producers/engineering, procurement, and construction companies.  Both supply orders for solar modules will be completed by March 2026.

Last year, Saatvik Solar Industries commenced construction of its 4.8 GW solar cell manufacturing facility in Odisha, which is expected to be operational by the financial year (FY) 2027. It also invested ₹2.51 billion (~$27.75 million) in a 4 GW solar module manufacturing facility at the same location.

Additionally, last year, Saatvik received orders worth approximately ₹7.07 billion (~$79.62 million) to supply solar modules to undisclosed Indian independent power producers and engineering, procurement, and construction contractors.

In the third quarter of the financial year (FY) 2026, Saatvik recorded a revenue of ₹12.57 billion (~$139.04 million), representing a 142.6% year-over-year increase from ₹5.18 billion (~$57.32 million), driven by robust demand for solar modules, high capacity utilization, and continued traction from repeat customers.

To strengthen its upstream manufacturing capacity and expand its revenue stream, Saatvik has been foraying into new segments.

In March, the company entered the energy storage market through its subsidiary, Saatvik Power Storage Solutions. The subsidiary, with an authorized capital of ₹1 million (~$10,832.8), will focus on developing and deploying battery technologies and energy storage systems.

Foraying into the IPP segment, Saatvik Cleantech EPC entered into a share purchase agreement to acquire a 49% stake in Intelligent Hydel Solutions, which is setting up a 41 MW solar project in Maharashtra.

Last year,  the company operationalized a 2 GW encapsulation polyolefin elastomer film manufacturing facility at its campus in Ambala, Haryana.