Saatvik Green Energy (the company) said its material subsidiary, Saatvik Solar Industries (Saatvik Solar), has received and accepted an order aggregating to Rs 2,975 mn from two renowned independent power producers and EPC players for the supply of solar photovoltaic modules. The company stated the contracts are commercial and domestic in nature and confirmed that promoters and group companies hold no interest in the contracting parties. The order is scheduled for execution by March 2027.

The announcement was made under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements and was filed with the stock exchanges. Details were provided in an annexure accompanying the disclosure and the company said the information is available on its website. The company clarified that the contracts do not fall within related party transactions and that the dealings will be conducted at arm s length.

The parent company provided company registration details and a contact for regulatory correspondence in its filing with the exchanges. The material subsidiary will supply modules as per commercial terms agreed with the awarding entities and will adhere to the agreed delivery schedule. No change in promoter shareholding or related interests has been reported in relation to these contracts.

The company indicated the contract value converts to approximately Rs 2.975 bn under the one hundred crore equals one bn convention and to Rs 2,975 mn under the crore to million conversion. The company said execution of the order will expand its supply operations and support its project delivery pipeline through the stated timeframe. Investors and stakeholders were asked to note the filing and the company affirmed that further updates will be provided through regulatory disclosures as required.