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Saatvik Green Energy to Acquire 80% Stake in Melcon Transformers for INR 24 Million
Saatvik Green Energy Limited has entered into a Share Purchase Agreement to acquire an 80% equity stake in Melcon Transformers and Electricals Private Limited for INR 24 million. This strategic move allows Saatvik to diversify from solar module manufacturing into the critical power transmission equipment segment. Melcon, a Jaipur-based manufacturer, reported a turnover of INR 4.17 crore in FY25, though it has seen a declining revenue trend from INR 8.32 crore in FY23. The acquisition is expected to close within 30 days and aims to provide Saatvik with greater control over its supply chain and execution efficiency.
Key Highlights
Acquisition of 80% equity stake (8,000 shares) in Melcon Transformers for a cash consideration of INR 24 million
Melcon manufactures a wide range of transformers from 5 KVA to 12,500 KVA (up to 33 KV class)
Target company turnover has declined from INR 8.32 crore in FY23 to INR 4.17 crore in FY25
Strategic shift towards becoming an integrated energy solutions provider with control over transmission infrastructure
The acquisition is expected to be completed within a 30-day indicative timeline
💼 Action for Investors
Investors should monitor the integration of this new segment and whether Saatvik can leverage its existing 4.8 GW module capacity to turn around Melcon's declining revenue. The move is a positive step toward vertical integration in the renewable energy ecosystem.
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Saatvik Green Energy Appoints New CS & Interim CFO; COO Moves to Subsidiary
Saatvik Green Energy Limited has announced a restructuring of its senior management team effective April 23, 2026. The company has appointed Ms. Jyoti Verma, a professional with over 20 years of experience, as the Company Secretary and Compliance Officer. Additionally, Mr. Rishabh Mehtta has been named the Interim Chief Financial Officer to oversee financial operations. The current COO, Mr. Vaibhav Bhardwaj, is transitioning to a leadership role within the company's wholly-owned subsidiary, Saatvik Solar Industries Private Limited, effective April 30, 2026.
Key Highlights
Ms. Jyoti Verma appointed as CS and Compliance Officer, bringing 20+ years of experience in corporate law and governance.
Mr. Rishabh Mehtta, a CA and CFA with 10+ years of experience, appointed as Interim Chief Financial Officer.
COO Vaibhav Bhardwaj to cease role at the parent company on April 30, 2026, to join a wholly-owned subsidiary.
Management changes approved by the Board following recommendations from the NRC and Audit Committee.
💼 Action for Investors
Investors should monitor the transition of the interim CFO to a permanent appointment and ensure that the management reshuffle does not disrupt the company's operational momentum.
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Saatvik Green Energy Appoints Interim CFO Rishabh Mehtta and CS Jyoti Verma
Saatvik Green Energy Limited has announced a significant reshuffle in its leadership team, appointing Mr. Rishabh Mehtta as the Interim Chief Financial Officer and Ms. Jyoti Verma as Company Secretary, effective April 23, 2026. Ms. Verma brings over 20 years of experience, having previously served at EPACK Durable Limited, a company with a turnover exceeding ₹2,100 crore. Mr. Mehtta is a CA and CFA with over 10 years of experience in statutory audits and IPO executions. Additionally, the current COO, Mr. Vaibhav Bhardwaj, will transition to a role at the company's wholly-owned subsidiary, Saatvik Solar Industries, effective April 30, 2026.
Key Highlights
Ms. Jyoti Verma appointed as CS and Compliance Officer with 20+ years of experience in corporate laws and governance.
Mr. Rishabh Mehtta, a CA and CFA with 10+ years of experience, appointed as Interim Chief Financial Officer.
COO Vaibhav Bhardwaj to cease being Senior Management Personnel as he moves to a wholly-owned subsidiary on April 30, 2026.
The new CS previously managed compliance for a listed entity (EPACK Durable) with over ₹2,100 crore in turnover.
💼 Action for Investors
Investors should monitor the stability of the finance department under the interim CFO and look for the appointment of a permanent CFO. The high experience level of the new Compliance Officer is a positive sign for corporate governance.
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Saatvik Green Energy Appoints New CS and Interim CFO; COO Transitions to Subsidiary
Saatvik Green Energy has announced a leadership reshuffle, appointing Ms. Jyoti Verma as Company Secretary and Mr. Rishabh Mehtta as Interim CFO, effective April 23, 2026. Ms. Verma brings over 20 years of experience from large listed entities like EPACK Durable and Lemon Tree Hotels. Mr. Mehtta, a CA and CFA charter holder with 10 years of experience, will lead the finance function on an interim basis. Additionally, COO Vaibhav Bhardwaj is transitioning to the company's wholly-owned subsidiary, Saatvik Solar Industries, effective April 30, 2026.
Key Highlights
Ms. Jyoti Verma (FCS) appointed as CS & Compliance Officer with 20+ years of experience in corporate governance.
Mr. Rishabh Mehtta (CA, CFA) appointed as Interim CFO with 10+ years of experience in audits and corporate affairs.
COO Vaibhav Bhardwaj to transition to wholly-owned subsidiary Saatvik Solar Industries on April 30, 2026.
Ms. Verma's previous role involved managing compliance for a listed entity with a turnover exceeding ₹2,100 crore.
💼 Action for Investors
Investors should monitor the company's progress in appointing a permanent CFO to ensure long-term financial leadership stability. The transition of the COO to a subsidiary may indicate a strategic push to scale the subsidiary's operations.
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Saatvik Green Energy Subsidiary Bags Solar PV Module Order Worth INR 71.25 Crores
Saatvik Green Energy's material subsidiary, Saatvik Solar Industries Private Limited, has secured a domestic contract valued at INR 71.25 Crores. The order involves the supply of Solar Photovoltaic (PV) modules to a prominent Independent Power Producer or EPC player. The project features a very short execution cycle, with completion targeted by May 2026. This development highlights the company's growing footprint in the Indian renewable energy manufacturing sector.
Key Highlights
Total order value stands at INR 71.25 Crores for Solar PV Module supply
Contract awarded by a domestic renowned Independent Power Producer/EPC Player
Project to be executed by the material subsidiary, Saatvik Solar Industries Private Limited
Tight execution timeline with completion expected by May 2026
💼 Action for Investors
Investors should view this as a positive development for revenue visibility in the near term. Monitor the company's ability to meet the aggressive May 2026 delivery deadline.
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Saatvik Green Energy Subsidiary Bags Solar PV Module Order Worth INR 108.75 Crores
Saatvik Green Energy's material subsidiary, Saatvik Solar Industries Private Limited, has secured a significant domestic order valued at INR 108.75 Crores. The contract involves the supply of Solar Photovoltaic (PV) modules to prominent Independent Power Producers and EPC players within India. The project is slated for completion by September 2026, providing strong revenue visibility for the company over the next 18 months. This win underscores the company's growing footprint in the competitive renewable energy equipment sector.
Key Highlights
Order value aggregates to INR 108.75 Crores for Solar PV module supply
Contract awarded to material subsidiary Saatvik Solar Industries Private Limited
Project execution is expected to be completed by September 2026
The order originates from domestic Independent Power Producers and EPC players
💼 Action for Investors
Investors should view this as a positive development for the company's order book and revenue growth. Monitor the company's ability to maintain margins amidst fluctuating raw material costs for solar cells.
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Saatvik Green Energy CFO Abani Kant Jha Resigns Effective April 7, 2026
Mr. Abani Kant Jha has resigned from his position as the Chief Financial Officer (CFO) and Key Managerial Personnel of Saatvik Green Energy Limited. The resignation is effective from April 07, 2026, as he intends to pursue professional opportunities outside the Saatvik Group. The company provided this updated disclosure following a clarification request from the BSE regarding the specific reasons for his departure. Investors should now look for the company's announcement regarding a successor to ensure leadership continuity.
Key Highlights
CFO Abani Kant Jha resigned from his role as Key Managerial Personnel effective April 07, 2026.
The reason for resignation is cited as exploring professional opportunities outside the group.
The disclosure was updated following a clarification sought by BSE Limited on April 09, 2026.
The company has complied with Regulation 30 of SEBI (LODR) Regulations, 2015 for this transition.
💼 Action for Investors
Investors should monitor the company's next steps in appointing a new CFO to ensure a smooth transition in financial management. While the resignation appears routine for career growth, the quality of the replacement will be key for future financial stability.
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Saatvik Green Energy CFO Abani Kant Jha Resigns Effective April 7, 2026
Saatvik Green Energy Limited has announced the resignation of Mr. Abani Kant Jha from his position as Chief Financial Officer (CFO) and Key Managerial Personnel. The resignation was effective from the close of business hours on April 07, 2026. As the CFO is a critical leadership role, his departure marks a significant change in the company's top management. Investors should look for the company's announcement regarding a successor to ensure continuity in financial oversight and strategy.
Key Highlights
Mr. Abani Kant Jha resigned as the Chief Financial Officer (CFO) and Key Managerial Personnel (KMP).
The resignation became effective from the close of business on April 07, 2026.
The company filed the intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The official communication was released to the exchanges on April 08, 2026.
💼 Action for Investors
Investors should monitor the company's upcoming announcements for the appointment of a new CFO to assess leadership stability. No immediate portfolio changes are recommended based solely on this management transition.
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Saatvik Green Energy CFO Abani Kant Jha Resigns Effective April 7, 2026
Saatvik Green Energy Limited has announced the resignation of Mr. Abani Kant Jha from the position of Chief Financial Officer (CFO) and Key Managerial Personnel. The resignation is effective from the close of business hours on April 07, 2026. This transition in the finance leadership comes as the company continues its operations under the SEBI Listing Regulations. Investors should note that the company has not yet announced a successor for this critical role.
Key Highlights
Mr. Abani Kant Jha has tendered his resignation as Chief Financial Officer
The effective date for the cessation of his role is April 07, 2026
The announcement was made in compliance with Regulation 30 of SEBI (LODR) Regulations, 2015
The company is listed on both BSE (544526) and NSE (SAATVIKGL)
💼 Action for Investors
Investors should monitor future filings for the appointment of a new CFO to ensure a smooth leadership transition. While a CFO exit is a significant event, the advance notice provides the company time to find a suitable replacement.
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Saatvik Green Energy Subsidiary Bags Solar PV Module Order Worth INR 57.03 Crores
Saatvik Green Energy's material subsidiary, Saatvik Solar Industries Private Limited, has secured a domestic order valued at INR 57.03 Crores. The contract involves the supply of Solar PV Modules to prominent Independent Power Producers and EPC players. The entire order is scheduled for execution by March 2026, indicating a quick turnaround and immediate revenue recognition potential. This win strengthens the company's position in the domestic solar energy equipment market.
Key Highlights
Order value totals INR 57.03 Crores for the supply of Solar PV Modules
Contract awarded to material subsidiary Saatvik Solar Industries Private Limited
Execution timeline is short, with completion targeted by March 2026
Clients include renowned domestic Independent Power Producers and EPC players
💼 Action for Investors
Investors should monitor the company's execution efficiency and order book growth. The quick turnaround of this contract is a positive sign for near-term revenue visibility in the renewable energy sector.
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Saatvik Green Energy Subsidiary Secures Solar PV Module Order Worth INR 14.48 Crores
Saatvik Green Energy Limited's material subsidiary, Saatvik Solar Industries Private Limited, has bagged a domestic contract for the supply of Solar PV Modules. The order, valued at INR 14.48 Crores, was awarded by prominent Independent Power Producers and EPC players. The project is slated for execution by March 2026, contributing to the company's revenue visibility in the renewable energy equipment segment. This win reinforces the company's position as a supplier to major domestic power infrastructure players.
Key Highlights
Order value aggregates to INR 14.48 Crores for the supply of Solar PV Modules.
Contract awarded to material subsidiary Saatvik Solar Industries Private Limited.
The order is from renowned domestic Independent Power Producers (IPPs) and EPC players.
Execution of the entire order is scheduled to be completed by March 2026.
The transaction is confirmed to be at arm's length with no promoter interest.
💼 Action for Investors
Investors should track the company's order book growth and execution efficiency, as consistent wins in the solar module space are key to scaling in the green energy sector.
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Saatvik Green Energy Subsidiary Bags Solar PV Module Order Worth INR 14 Crores
Saatvik Green Energy's material subsidiary, Saatvik Solar Industries Private Limited, has secured a domestic order for the supply of Solar PV Modules. The contract is valued at INR 14 Crores and was awarded by a prominent Independent Power Producer/EPC player. The entire order is expected to be executed by March 2026, indicating a very short turnaround time. This win highlights the company's growing footprint and reliability in the Indian solar manufacturing space.
Key Highlights
Order value of INR 14 Crores for the supply of Solar Photovoltaic Modules.
Contract awarded to material subsidiary Saatvik Solar Industries Private Limited.
Execution timeline is immediate with completion targeted by March 2026.
The order comes from a domestic Independent Power Producer/EPC player.
💼 Action for Investors
Investors should view this as a positive development for order book growth and track the company's ability to scale production. Monitor the impact on upcoming quarterly earnings for margin consistency in the solar module segment.
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Saatvik Green Energy Subsidiary Secures INR 638.26 Crore Order for Solar Cells
Saatvik Green Energy Limited's material subsidiary, Saatvik Solar Industries Private Limited, has bagged a significant domestic order worth INR 638.26 Crores. The contract involves the supply of Solar Cell G12 R Type to a renowned solar modules manufacturer. The order is scheduled for execution by March 2027, providing strong revenue visibility for the company over the next fiscal year. This development underscores the company's growing presence in the solar component supply chain.
Key Highlights
Total order value aggregates to INR 638.26 Crores.
Order awarded to material subsidiary Saatvik Solar Industries Private Limited.
Scope includes the supply of Solar Cell G12 R Type to a domestic manufacturer.
Execution timeline is set for completion by March 2027.
💼 Action for Investors
Investors should view this as a significant growth catalyst that enhances revenue visibility; watch for execution efficiency and impact on quarterly margins.
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Saatvik Green Energy Subsidiary Leases 185-Acre Land for ₹11.17 Cr for Expansion
Saatvik Green Energy's material subsidiary, Saatvik Solar Industries, has secured a 99-year lease for 185 acres of land in Madhya Pradesh. The land, located in the Mohasa–Babai Industrial Area, was acquired for a consideration of ₹11.17 crores from the M P Industrial Development Corporation. This acquisition is strategically aimed at supporting future capacity expansion and enhancing operational synergies in the renewable energy equipment sector. The long-term nature of the lease provides a stable foundation for the company's manufacturing growth strategy.
Key Highlights
Material subsidiary Saatvik Solar Industries leased 185 acres (approx. 748,668 Sq.mt.) of land.
The lease agreement is for a long-term tenure of 99 years with M P Industrial Development Corporation.
Total consideration for the lease is ₹11.17 crores, excluding other applicable charges and duties.
The land is situated in a dedicated Manufacturing Zone for Power and Renewable Energy Equipment in Narmadapuram, MP.
💼 Action for Investors
Investors should view this as a positive indicator of the company's long-term growth and capacity expansion plans in the solar sector. Monitor for future updates regarding the capital expenditure and production timelines for this new site.
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Saatvik Green Energy Incorporates WOS for Battery and Energy Storage Business
Saatvik Green Energy Limited has incorporated a new wholly owned subsidiary, Saatvik Power Storage Solutions Limited, on March 09, 2026. This new entity will focus on the renewable energy sector, specifically dealing with batteries and energy storage systems. The subsidiary is established with an authorized capital of Rs. 10,00,000, divided into 1,00,000 equity shares of Rs. 10 each. This strategic move marks the company's entry into the critical energy storage market, which is essential for the growth of the renewable energy sector.
Key Highlights
Incorporation of 100% Wholly Owned Subsidiary (WOS) named Saatvik Power Storage Solutions Limited.
Authorized share capital of Rs. 10,00,000 consisting of 1,00,000 equity shares of Rs. 10 each.
The subsidiary will engage in the business of batteries and energy storage systems.
The entire paid-up capital is held by the parent company, Saatvik Green Energy Limited.
The incorporation was completed on March 09, 2026, via cash consideration.
💼 Action for Investors
Investors should monitor the company's progress in the energy storage segment as it complements their existing renewable energy portfolio. Watch for future announcements regarding manufacturing capacity or partnerships within this new subsidiary.
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Saatvik Green Energy Bags Solar PV Module Order Worth INR 87.10 Crores
Saatvik Green Energy Limited has secured a domestic order valued at INR 87.10 Crores for the supply of solar PV modules. The contract was awarded by a prominent Independent Power Producer (IPP) or EPC player within the domestic market. This order is scheduled for rapid execution, with a completion deadline set for March 2026. This win strengthens the company's order book and provides clear revenue visibility for the near term.
Key Highlights
Received a domestic order worth INR 87.10 Crores for solar PV module supply
Order awarded by a renowned Independent Power Producer/EPC player
Project execution is slated for completion by March 2026
The transaction is purely commercial and does not involve any related party interests
💼 Action for Investors
Investors should monitor the company's ability to maintain margins while executing this short-term contract. The rapid execution timeline suggests immediate revenue recognition potential in the upcoming quarters.
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Saatvik Green Energy Subsidiary Bags Solar PV Module Order Worth INR 44.10 Crores
Saatvik Green Energy Limited's material subsidiary, Saatvik Solar Industries Private Limited, has secured a domestic order valued at INR 44.10 Crores. The contract involves the supply of solar photovoltaic (PV) modules to a renowned Independent Power Producer or EPC player. The entire order is scheduled for execution by March 2026, providing strong near-term revenue visibility for the company. This win underscores the company's competitive position in the domestic solar equipment market.
Key Highlights
Order value aggregates to INR 44.10 Crores for the supply of solar PV modules.
The contract was awarded by a domestic renowned Independent Power Producer/EPC Player.
The project is slated for completion and execution by March 2026.
The order was secured by the company's material subsidiary, Saatvik Solar Industries Private Limited.
💼 Action for Investors
This is a positive development that enhances the company's order book and ensures revenue realization within the next few months. Investors should monitor the company's ability to scale these orders and maintain margins amidst fluctuating solar cell prices.
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Saatvik Green Energy Subsidiary to Acquire 49% Stake in IHSPL for ₹1.31 Crore
Saatvik Green Energy's wholly-owned subsidiary, Saatvik Cleantech EPC, has entered into a Share Purchase Agreement to acquire a 49% stake in Intelligent Hydel Solutions Private Limited (IHSPL). The acquisition, valued at approximately ₹1.31 crore, marks the company's strategic expansion into the Independent Power Producer (IPP) business. IHSPL currently holds a Power Purchase Agreement (PPA) with MSEDCL for a 41 MW AC power plant in Maharashtra. RMC Switchgears Limited will remain the majority partner with a 51% stake in the venture.
Key Highlights
Acquisition of 49% equity stake in Intelligent Hydel Solutions Private Limited for ₹1,30,58,500.
Strategic entry into the Independent Power Producer (IPP) segment to diversify revenue streams.
Target entity holds a PPA with MSEDCL for a 41 MW AC solar power project in Maharashtra.
Collaboration with RMC Switchgears Limited, which will retain a 51% controlling stake.
Transaction is expected to be completed within a 30-day timeline.
💼 Action for Investors
Investors should monitor the company's transition toward the IPP model, which provides higher-margin recurring revenue compared to pure EPC work. The successful commissioning of the 41 MW Maharashtra project will be a key milestone to watch.
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Saatvik Green Energy Q3FY26 Revenue Jumps 143% to ₹1,257 Cr; Order Book at 5.05 GW
Saatvik Green Energy reported a robust Q3FY26 with revenue growing 143% YoY to ₹1,257 crore and PAT increasing 144% to ₹98.7 crore. The company maintained high capacity utilization of 81% at its 3.8 GW Ambala facility and successfully commissioned a 2 GW in-house EPE film plant. With a strong order book of 5.05 GW valued at approximately ₹6,500 crore, the management is focused on backward integration, including a 4.8 GW cell plant in Odisha scheduled for FY27.
Key Highlights
Q3FY26 Revenue grew 143% YoY to ₹12,570 million with EBITDA margins at 13.11%.
Order book stands at 5.05 GW, providing revenue visibility of approximately ₹6,500 crore.
Commissioned 2 GW in-house EPE film manufacturing facility to improve vertical integration and supply chain security.
Odisha expansion on track with 4 GW module capacity by FY26-end and 4.8 GW cell capacity by H2FY27.
9M FY26 PAT surged 145% YoY to ₹3,007.9 million with a healthy PAT margin of 10.23%.
💼 Action for Investors
Investors should monitor the timely commissioning of the Odisha cell plant, as backward integration is expected to significantly enhance margins. The strong order book and high utilization suggest continued growth momentum in the solar manufacturing space.
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Saatvik Green Energy Subsidiary Secures Solar PV Module Order Worth INR 9.63 Crores
Saatvik Green Energy's material subsidiary, Saatvik Solar Industries Private Limited, has secured a domestic order valued at INR 9.63 Crores. The contract involves the supply of solar photovoltaic (PV) modules to a prominent Independent Power Producer or EPC player. Notably, the order is slated for rapid execution, with completion expected within February 2026. This win strengthens the company's order book and provides immediate revenue visibility for the current quarter.
Key Highlights
Material subsidiary Saatvik Solar Industries Private Limited bagged an order worth INR 9.63 Crores.
The contract involves the supply of solar PV modules to a domestic Independent Power Producer/EPC player.
The project has an extremely short execution timeline, with completion expected by February 2026.
The transaction is strictly commercial and does not involve any promoter or related party interests.
💼 Action for Investors
Investors should view this as a positive development reflecting the company's ability to secure and execute quick-turnaround orders in the solar space. Monitor the company's quarterly results to see if these smaller, high-frequency orders are scaling up to significantly impact the bottom line.