Newly-listed stock soars 8% to hit record high after new order wins worth Rs 707 crore – News Air Insight

Shares of Saatvik Green Energy, which listed last month, saw their shares jump as much as 8.4% to their fresh all-time high of Rs 499.40 on the NSE on Wednesday, October 8, after the company announced it had bagged 2 new orders totalling Rs 707 crore. Interestingly, the company will also declare its quarterly earnings later today.

The first order, worth Rs 488 crore, is from a renowned Indian power producer and pertains to supplying PV modules, the company said in a regulatory filing on October 7. While the company didn’t mention the name of the client, it said that the order will be executed by FY26. The second order pertains to providing solar PV modules worth Rs 219 crore, another exchange filing dated October 7 said.

Listed on September 26, the initial public offering was a book-built issue of Rs 900 crore. The shares made a flat stock market debut, listing at the issue price of Rs 465 per share on the NSE. Just a few days after listing, on September 30, the stock fell to its all-time low of Rs 420 per share. The counter has touched an all-time high of Rs 499 per share today, rising nearly 20% in just about 6 trading sessions.

Saatvik Green Energy manufactures solar PV modules and provides EPC (engineering, procurement and construction) services. From a modest 125 MW capacity in 2016, the company has scaled to 3.8 GW as of June 2025, with facilities in Ambala, Haryana. It produces Mono PERC and N-TopCon modules, available in monofacial and bifacial variants, catering to residential, commercial, and large-scale solar projects.

Revenue has grown sharply from Rs 609 crore in FY23 to Rs 2,158 crore in FY25, an 88% CAGR. Profit after tax surged from Rs 4.7 crore in FY23 to Rs 213.9 crore in FY25. EBITDA margin expanded to 16.4% in FY25 from 3.9% in FY23, highlighting operational leverage.

India’s renewable energy capacity has crossed 233 GW as of June 2025, with solar energy accounting for nearly 116 GW. Solar power has been the fastest-growing component, with a CAGR of 26% between FY18 and FY25. Analysts see strong tailwinds for domestic manufacturers amid the government’s push for solar and the Production Linked Incentive (PLI) scheme.Also read: LG Electronics India IPO: How does it fare against Samsung, Whirlpool, and Voltas? Check key metricsAt about 2:50 am, Saatvik Green Energy shares were trading at Rs 497, higher by 8% from the last close on the NSE.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)