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Saatvik Green Energy Soars 5% as Motilal Oswal Predicts 23% Upside
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CNBC TV18•21-09-2026, 15:12
Saatvik Green Energy Soars 5% as Motilal Oswal Predicts 23% Upside
- •Shares of Saatvik Green Energy gained nearly 5% after Motilal Oswal Financial Services reiterated a Buy rating with a target price of ₹508, implying a 23% upside.
- •The company's order book surged to ₹9,700 crore from ₹8,200 crore, securing new orders worth ₹1,530 crore, providing significant revenue visibility through FY28.
- •A key win includes a 600 MWp DCR module order from SECI worth ₹1,040 crore, with deliveries scheduled for December 2027.
- •Motilal Oswal anticipates Saatvik Green Energy's entry into solar cell manufacturing will drive growth, with 2.4 GW production starting in Q3 FY27 and expanding to 6 GW by FY28.
- •The brokerage expects in-house cell production and higher DCR volumes to boost profitability, projecting EBITDA margin to rise to 15% by FY28 from 8% in FY27.
Key Questions Answered
Motilal Oswal Financial Services has reiterated its Buy rating on Saatvik Green Energy with a target price of ₹508, which implies a 23% upside from the brokerage's reference price.
Saatvik Green Energy's order book increased to approximately ₹9,700 crore after securing fresh orders worth about ₹1,530 crore.
The company's first 2.4 gigawatt solar cell manufacturing phase is on track to begin production in the third quarter of FY27, with a further 3.6 gigawatt expansion expected by the end of FY28.
