Interim report
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Saatvik Green Energy Limited (a Saatvik Group Company) Corporate Office: Tower A, IFFCO Complex, Plot No. 3, Institutional Area, Sector 32, Gurugram, Haryana - 122001, Tel.: 1800-547-1151 | W.: www.saatvikgroup.com | E.: info@saatvikgroup.com| CIN: L40106HR2015PLC075578 Registered Office: Village Dubli, V.P.O. Bihta, Tehsil Ambala, Haryana- 133101, India Ref.: SGEL/SE/2026-27/65 November 05, 2026 To, To, Listing Department Listing Department BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Dalal Street Exchange Plaza, C-1, Block G, Bandra Kurla Mumbai – 400001 Complex Bandra (E), Mumbai – 400 051 Scrip Code: 544526 Symbol: SAATVIKGL Sub.: Outcome of Board Meeting held on November 05, 2026 - Standalone and Consolidated Unaudited Financial Results for the Quarter and Half year ended September 30, 2026. Dear Sir/Madam, Pursuant to provisions of Regulation 30 read with Regulation 33 and other applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“ Listing Regulations”), we wish to inform you that the Board of Directors of the Saatvik Green Energy Limited (“the Company”) at its meeting held today i.e., November 05, 2026, inter-alia considered and approved the Standalone and Consolidated Unaudited Financial Results for the Quarter and Half year ended September 30, 2026. (“Financial Results”) A Copy of aforesaid Financial Results and the limited review report(s) thereon are enclosed herewith. The meeting of the Board of Directors commenced at 12:35 p.m. and concluded at 02:20 p.m. All aforesaid documents will be simultaneously hosted on the website of the Company i.e., https://saatvikgroup.com . You are requested to kindly take the above information on your record. Thanking you, For Saatvik Green Energy Limited Jyoti Verma Company Secretary & Compliance Officer Encl.: a/a
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Suresh Surana & Associates LLP Chartered Accountants Suresh Surana & Associates LLP 2nd Floor, Tower-8 8-37 Sector-1 Naida (NCR) - 201301. (U.P), India T +91 (120) 626 5555 newdelhi@ss- associates.com www.ss-associates.com LLP Identity No. AAB-7509 Independent Auditor's Review Report on Unaudited Consolidated Financial Results for the quarter and half year ended September 30, 2026, of the Saatvik Green Energy Limited (Formerly known as 'Saatvik Green Energy Private Limited')pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations") To The Board of Directors, Saatvik Green Energy Limited (Formerly known as 'Saatvik Green Energy Private Limited') 1. We have reviewed the accompanying statement of Unaudited Consolidated Financial Results of Saatvik Green Energy Limited (Formerly known as 'Saatvik Green Energy Private Limited') ("the Holding Company") and its subsidiaries (the Holding Company and its subsidiaries together referred to as "the Group") for the quarter and half year ended September 30, 2026 (hereinafter referred to as "Statement"), attached herewith being submitted by the Holding Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations"). 2. The Statement, which is the responsibility of the Holding Company's Management and approved by the Holding Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" ("IND AS 34"), prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India and is in compliance with the presentation and disclosure requirements of Regulation 33 of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing specified under Section 143(10) of the Companies Act, 2013 and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. • We also performed procedures in accordance with the Master Circular issued by the Security and Exchange Board of India under Regulation 33 (8) of the Listing Regulations, to the extent a · gl"ca't::/I . . ... , 11,)~o The Statement includes the results of the subsidiaries as listed down in Annexure 1. //)./ ◊ Head Office: ::r: Ch 8th Floor, Bakhtawar, 229, Nariman Point Cl) Mumbai - 400 021. India. T +91 (22) 6121 4444 emails@ss-associates.com Offices: Mumbai, Chennai, Kolkata, Bengaluru, Navi Mumbai, Surat, Hyderabad, Ahmedabad, Pune, Gandhidham, Jaipur and Vijayanagar. -
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Suresh Surana & Associates LLP Chartered Accountants 4. Based on our review conducted and procedure performed as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standards specified under section 133 of Companies Act, 2013 and other accounting practices and policies generally accepted in India, has not disclosed the information required to be disclosed in terms of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. 5. The unaudited consolidated financial results: a. include the interim financial results and other unaudited financial information of 4 subsidiaries (including 1 foreign subsidiary and 1 step down subsidiary), whose interim financial results reflect total assets of Rs. 2,515.27 millions as at September 30, 2026, total revenue of Rs. 113.38 millions and Rs. 228.36 millions, total net profit after tax Rs. 12. 50 millions and Rs. 19.14 millions, total comprehensive income of Rs. 13.97 millions and Rs. 20. 79 millions, for the quarter ended September 30, 2026 and the period ended on that date respectively, and net cash inflows of Rs. 22.39 millions for the period from April 01, 2026 to September 30, 2026 as considered in the unaudited consolidated financial results. b. include the interim financial results and other unaudited financial information of 1 subsidiary, whose interim financial results reflect total assets of Rs. 159.4 7 millions as at September 30, 2026, total revenue of Rs. 34.81 millions and Rs. 64.15 millions, total net loss after tax Rs. 3.46 millions and Rs. 4.90 millions, total comprehensive income of Rs. 3.46 millions and Rs. 4.90 millions, for the quarter ended September 30, 2026 and for the period from April 23, 2026 to September 30, 2026 respectively, and net cash inflows of Rs. 5.72 millions for the period from April 23, 2026 to September 30, 2026 as considered in the unaudited consolidated financial results. These interim financial results and other unaudited financial information have not been reviewed by their auditors and have been furnished to us by the management by applying consistent accounting policies. According to the information and explanations given to us by the Management, these interim financial results and other unaudited financial information are not material to the Group. Our conclusion on the Statement in respect of the matters stated herein paragraph 5 above is not modified with respect to the financial results and other unaudited financial information as certified by the management. For Suresh Surana & Associates LLP Chartered Accountants ICAI Reg. No. 121750W/W100010 Kapil Kedar Partner Membership No. 094902 -r-- i ·i 1 ,o UDIN: 2..6D.9tf9o2,Cl3O '>(-i Z.. T-ro Dated: November 05, 2026 Place: Noida I ■-
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Suresh Surana & Associates LLP Chartered Accountants Annexure 1 List of subsidiaries included in Statemen t S.no. Subsidiaries 1 Saatvik Solar Industries Private Limited (Formerly known as S Cleantech Renewables Private Limited) 2 Saatvik Cleantech EPC Private Limited (Formerlv known as S Cleantech Power Private Limited) 3 Saatvik Green USA Inc. 4 Intelligent Hydel Solutions Private Limited (Subsidiary of Saatvik Cleantech EPC Private Limited) 5 Saatvik Power Storage Solution Limited 6 Saatvik Transvolt Solutions Limited (former ly known as Meleen Transformers and Electrical Private Limited) (w.e.f Aoril 23, 2026) ■
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P1rtlcul1rs (l) Income [a) Rev1nue from oper.itlons• (b) Othe r income Tofi l income {2) u.p41nHS {.a) Cost of m,uerla ls .and services consum ed (b) Purchases ofStock•in-Trade SHtvik GrHn Enerrv Umited lformarly known u S.ntvlk Gre1n Enerey Prlv•t• Umlted) CJN: l40106HR2015PLC07S578 ReclHtred Offit111: Vlll•ce Oubll, V.P.O. llhfl, Tt hsll Amb,at1, Hery■ n•• 133101, lndh11 Corponte Offin: Tower A, IFFCO Comp!H, Plot No. 3, lnstitutlon•I ArH, Sector 32, Guru1r.m, H•rv•n•• U2001 Website: https://se,tvlk1roup.corn , Em,il: lnvenon(!)s.1Mk1ro up.com, Tel.: Ol.24-36267SS Statemen t of Un11Jdlted Consol ld1t1d Flmmc!el Results fDf tffll qu1n1r and half ytier e nded 5ept1 mbtr 30, 2026 I Qu1rttr End•d I September 30, 2026 I June 30, 2026 I S.pte mbe r 30, 2025 I I (Uri1udlted) I (Un1udlted) I (Unaudited) I I I Refe r note • 4 I 9,026.05 5,110.10 7,680.29 252.86 87.20 151.53 9,278.91 S,l97.30 7,831.82 7,639,73 5,267.43 8,399.62 271.11 21.68 1551.31 (c) Changes fn inve ntori es of finished goods, wort- in-progress o1nd Stock-In-Trade (d) Employee ben efits e)(pense (267.22) 278.40 {1,287.51) (3,178.90) 258.60 296.27 (e ) Finan ce costs {f) Depreciation and amonl wtion e)(pense (g) Othe r 1xpe nses To111 e)(ptns.s (3) Profit befo,e 1xe111ption1I items ind 1111 ( 1-2) (4) hc1p1iona l items (Rtftr note 31 (5) Profrt before tu (J..4) (6) TIIC llCpense: (I) Current tax (ii) Tax for earlier years (II!) De ferred tax Total t1x e)(pens.e (7) Profit for the period/ ve1r (5-6) (I) Othtr c.cmpr1henslve Income (I) Items th,t will not be subsequ1ri tly recl1nifled to profit or lou • Remu sure ment of net defined benefit liability/(nseu ) • Income tax expens e rtliting to the .above (ii) ltt ms th,t will be subsequen tty reclusifled to profit or loss • Net loss due 10 foreign t1.1rrency translation dlffere ncts - lncom1 tax e Kpense rel.iting to the above Oth1r comp r1henslv1 lncom, for the perlod/yur, net of tu (91 Toul comp,1h1nslve Income for the period/year, net of tu (7+s) (101 Ptoflt/(lou) for the period/veer 1ttribut 1ble to Owner.; of the Group Non-contro llln1 !nt1rM1$ (11) Tot1I ather compr1h1nsive income for tffll perlod/yur 1ttrlbut•bl 1 to Owners of the Group Non-contro lling interests (121 Total c.ompre henslve Income lot the y1ar 1ttrlbut1b/1 to Owners of the Group Non-contro lling int u t su (131 Paid-up Equity Shart Capital fa~e ~1lu1 of tht sha re (INRI Other Equity (14) Eunlncs per equity sh1r1 (INR)• (1) 8.asicEPS (b) Diluted EPS # Not o1nnua liiea for quarter tndtd Septembtr 30, 202 6, Jun1 30, 2026, and Si:pte mber 30, 2025. See accompanyin g notes to the Unaudited Consolfdated Financial Rtsults 240.19 217.35 136.34 149,20 134.07 136.87 661.04 511.6 1 892.34 8,972.45 5,123.23 6,841.85 306.46 74.07 989,97 26.34 2&0.12 74.07 989.97 80.61 52.42 168.76 {2.'34) (31.98) {25.94) 77.67 20.44 142.82 202.45 53.63 847.15 8.42 8.47 5.10 (2.641 (1.94) (1.29) 0.00 0.00 0.03 5.78 .. ,, , ... 208.23 60.16 IS0.99 212.51 55.10 847,15 (10.061 (1.47) 202.45 53.63 847.15 5,78 6.53 , ... S.78 .. ,, , ... 218,29 61.63 850.~ (10.061 (1.47) 208.23 60.16 850.99 254.22 254.22 254.22 2.00 2.00 2.00 1.64 0.43 7.53 164 0 .43 1.51 (All 1mount5 1r1 In lNR millions, unleu otherwise st,tedl Ha~Y-■ r Ended Y-■ r Ended September 30, 2026 I S.pte mbu 30, 2025 I Much 31, 2026 (Un1udlt1d) I I 14,135.15 340.06 14,476.21 ll,907.15 292.80 (1,554.73) 53Hl0 457.53 283.26 l,ln.65 14,0,5.66 380.55 26.34 354.21 133.02 {34.92) 98.10 256.11 16.89 (4.59) 0.00 12.30 268.41 267.54 (11.53) 256.11 12.30 12.30 279.94 (11.53) 268.41 254.22 2.00 2.11 2.lO (Unaudite d} Ref,rnot, • 4 15,837.S7 191.59 17,029.16 15,671.53 274.50 (4,089.25) 573.02 326.78 261.46 1,559.22 14,Sn.36 2,451.80 2,451.80 441.13 (2.49) 438.64 2,013.16 (6.43) 1.59 0.02 (4,82) 2,008.34 2,013. 16 2,013.16 (4,821 {4.821 2,008.35 2,008.34 254.22 200 17.90 17,85 (Audited) 45,484.37 395,60 45,879.97 34,965.92 2,002.58 (1,514.40) 1,150.22 713.03 641.60 3,455.03 41,423.98 4,455.99 39.46 4,416.53 917.04 , ... (75.34} 845.38 3,57L15 (21.441 5.24 (2.74) (18.941 3 552.21 3,573.04 (1.89) 3,571.15 (lU4) (18.94) 3,554.10 (1.89) 3,552.2 1 254.22 2.00 13,356.45 29.83 29.76
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Saatvik Green Energy limited (formerly known as Saatvik Green Energy Private limited} CIN: L40106HR2015PLC075578 Unaudited Consolidated Statement of Asset & Liabilities as at September 30, 2026 (All amounts are in INR millions , unless otherwise stated) I As at I Asal Particu lars September 30, 2026 March 31, 2026 I (Unaudited) I (Audited ) ASSETS (1} Non-curren t assets (a) Property, plant and equipment 4,700.97 3,087.24 (b) Capital work in progress 8,842.08 3,841.39 (c) Intangible assets 78.24 0.63 (d) Right-of-use assets 1,330.29 1,420.58 (e) Financial assets (i) Other financial assets 262.40 27.63 {fl Deferred tax assets {net) 189.65 158.35 (g} Other non-current assets 4,600.33 1,874.54 Total non-current assets 20,003.96 10,410.36 (2) Current assets (a) Inventor ies 9,073.52 7,015.92 (b) Financial assets (i) Trade receivables 4,854.62 6,988.26 (ii) Cash and cash equivalents 253.49 279.02 (iii) Bank balances other than (iii ) above 245.96 538.51 (iv) Loans 4.58 75.89 (v) Other financial assets 1,779.52 3,153.70 le) Current tax assets jnet) 155.18 0.93 (d) Other current assets 4,176.15 2,683.32 Total current assets 20,543.02 20,735.55 Total assets 40,546.98 31,145.91 EQUITY AND LIABILITIES EQUITY (a) Equity share capital 254.22 254.22 (b) Other equity 13,672.78 13,356.45 Equity attributable to owners of the holding compan y 13,927.00 13,610 .67 (c) Non-cont rolling interests (13.61) (2.32) Total equity 13,913 .40 13,608.35 LIABILITIES (1} Non-current liabilities (a) Financial liabilitie s (i) Borrow ings 9,788.92 2,108.25 (ii) lease liabilities 454.06 514.28 (iii) Other financia l liabi liti es 10.00 (b) Provisions 124.75 117.36 (c) Deferred tax liabilities {net) 2.30 1.33 (d) Other non-current liabilit ies 185.45 290.24 Total non-current liabilities 10,565.48 3,031.46 (2) Current liabilities (a) Financial liabilities (i) Borrowings 9,326.09 6,704.71 (ii) lease liabilities 60.66 67.12 (iii) Trade payables - Total outstandi ng dues of micro enterprises and small enterpr ises 253.06 194.77 - Total outstanding dues of creditor s other than micro enterprises and small ente rprises 4,452.21 5,608.28 (iv) Other financial liabilities 972.71 666.25 (b) Provisions 113.77 175.78 (c) Contract liabilit ies 585.59 793.24 (d) Current tax liabilities (net) 81.39 59.06 (e) Other current liabilities 222.63 236.89 Total current liabilities 16,068 .11 14,506.10 Total liabilities 26,633.59 17,537.56 Total equity and liabilities 40,546.98 31,145.91 See accompanying notes to the Unaudited Consolidated Financial Results
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Saatvik Green Energy Limited (formerly known as Saatvik Green Energy Private Limited) CIN: L40106HR201SPLC075578 Unaudited Consolidated Statement of Cash Flows for the half year ended Septem ber 30, 2026 (All amo unts are in INR millions, unless otherwise stated ) Particulars A. Cash flow from operating activities Profit before exceptional items and tax Adjustme nts for: Interest income on bank and other deposits Interest income on Security deposit Income from government grant Interest expense on borrowings, credit discounting and others Interest cost on lease liabilities Provision for doubtful debts Bad debts written off Provision for warranty and replacement expense Share based payment expense Provision for litigation Depreciation on right-of-use assets Depreciation of property, plant and equipment Amortisation of intangible assets loss on sale of assets Foreign exchange loss (net) Loss allowance for financial assets Profit on sale of mutual funds (net) liabilites written back LD Charges Gain on termination of lease contract Operating cash flows before movements in working capita l (lncrease)/Oecrease in inventories (lncrease)/Decrease in trade receivables (lncrease)/Oecrease in other financial assets (lncrease)/Decrease in other assets (Decrease)/lncrease in trade payables (Decrease)/lncrease in other financial liabilities (Decrease)/lncrease in contract liabilities (Decrease)/lncrease in other liabilities (Decrease)/lncrease in provisions Cash generated from operations Income taxes paid Net cash generated from/(used in) operating activities B. Cash flow from investing activities Proceeds from sale of investments Acquisition of property, plant and equipment and other intangible assets !including CWIP and capital advances) Proceeds from sale of property, plant and equipment Right of use asset entered (lnvestments )/Maturity of fixed deposits (Net) Interest received Repayment of loan from related parties Net cash used in investing activities C. Cash flow from financing activities Proceeds from fresh issue of equity shares (net of share issue expense) Interest paid (Repayment)/ Proceeds from borrowings (net) Principal repayment of of lease liabilities Interest repayment of lease liabilities Net cash generated from financing activities Net increase/(decrease) in cash and cash equivalents (A+B+C) Cash and cash equivalents at the beginning of the period Cash and cash equivalents at the end of the period Cash and cash equivalents as per above comprise of following Particulars Cash on hand Balance with banks - in current accounts - in EEFC accounts Deposits with original maturity of less than 3 months See accompanying notes to the Unaudited Consolidated Financial Results Half year ended September 30, 2026 (Unaudited) 380.55 (125.13) (0.38) (134.95) 417.66 16.74 14.25 8.02 33.59 248.13 1.54 5.14 21.30 (0.22) (63.68) (6.18) 816.38 (2,057.59) 2,135.49 (232.04) (1,503.03) (1,012.76) 32.10 1207.65) 15.90 (74.01) (2,087.21) 1264.95) (2,352.16) 0.22 19,333.66) 1,653.03 92.22 71.31 (7,516.88) (405.76) 10,302.06 (36.05) (16.74) 9,843.51 (25.53) 279.02 253.49 As at September 30, 2026 0.82 202.77 Half year ended September 30, 2025 (Unaudited) Refer note - 4 2,451.80 (18.35) (0.95) (163.18) 307.95 18.83 2.31 17.65 35.09 53.53 207.65 0.28 0.38 77.62 1.28 (5.15) 2,986.74 (1,686.84) 236.76 (0.83) (1,458.99) 967.10 40.57 1,116.69 159.91 17.95 2,379.06 (400.52) 1,978.54 (1,034.90) 0.28 (417.17) (4,740.11) 17.45 (6,174.45) 6,602.57 1294.80) 704.76 (38.33) (18.83) 6,955.37 2,759.46 53.94 2,813.40 As at September 30, 2025 0.28 2,708.94 104.18 2,813.40
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S.. ■ tvikGr••n Enercv Limited (formerly known ■ s Sntvik GrHn £nun Prlv■t■ Umlted) Notes to th• Un■ udited Comolideted Fln■ rn:1 ■ 1 Result$ for th■ qu•rttr •nd h■lf yHr ended Septembe r JO, 2026 The Statement of Una1,1dited Consolidated Financial Results of Saatvik Grun Energy Limited (formerly known as Saatvik Green Energy Private Limited) r the Holding Companv") and its subsidfaries (Holdlna Company and Its subsidiaries to11ether referTed to u the "Group"} have been prepared in accordance wfth the recognition and measurement principles of Indian Accounting Stand ard 34 • Interim Flnancfal Reporting prescribed under Section 133 of the Companies Act, 2013 (the "Acr) and other accounting principles generally ae<:epted in lndla and presented in accordanct with the rtqulrt ments of Reaulat!on 33 of the SEBI (listin& Obllaations and Disclosure Requlrements) Regulations, 2015, ('Listfng Rejulatlons'J. The Statement of Unaudited Consolida1ed Flnancial Results of the Company have been reviewed by the Audit committee and approved bv the Board of Olrectors of the Comoanv fn IJ1eir respective meetings held on Nov-ember 05, 2026and has been subject to limited review by the Statutory Aud!tori of the Company The Group is primarily engaged fn the manufact1Jrlng of Solar Photovoltaic [PV) mod1Jles, Tunsforme rs, En,:ineerin&, Procurement and Construction tEPCJ services, design. construction, procurement and commissioning of Solar Photovoltaic Water Pumping S~tems (SPWPS), Sol1r Invert er, Battery, Solar kit and Independent Power Producer. The Chief Operating Decision Makers (COOM) reviews the Group's performance and alloca tes resources based on an overall assessment of the business as a single operating sesment. Accordin1Jv. no o01er reoortab!e separate segment Information is provided !n accordance with the req1Jirements of Ind AS 108- Operating Segments. 3. 0Yring the qyarte r ended March 31, 2026, the Groop has reassessed the useful Ifft of certain plant & machinery based on the technical eval1Jatlon and industry standards. Consequently, depreciation for the quarier and year ended March 31, 2026was higher by INR 96.28 mfllion. The Holding Comp.1nv had also Identified impairment indicators for its Monoperc cash,generating unit('Monoptrc CGU') arisin1 from rapid itchno loglcal advanc&ments in tht solar mod1Jle fndYStry and a stra1e1k shift in management foc1Js; and hn accordlngly re auesstd the recov-erable amount of the MonopercCGU and recognised an impairment Ion of INR 39.46 million durin1 quarter and year endtd March 31, 2026. Furtht rdurir,g the quarter ended September 30, 2026, a fire broke 01Jt at the Company's Subsidiary production faclllty located in Ambala, Haryana, resulting In damage 10 plant and machinery and i11vtntorfes h1Vin1 net carryfng value of INR 26.34 mi!lion. The Company has adequate lns1Jrance cover.1ge for the damaged assets and has lod ged Insurance dalms with !he ins1Jrer. The assessmen1 of the loss is currently In progress wllh the Insurance surveyor and the lnsyrance companv. In view of assessment of loss in progress, recovery of loss could not be ascertained/ recognised. Allhough, management expect to recover the loss of ntl carrying value ln due course however considering the material and non-recYrring nat1Jre of the ev,nt, the losses arbln1 from the rrre, aggr,ga1in1 to INR 26.34 million, have b,en prelent,d separately under Exceptlonal lttms 4. The Gro1Jp has d,anged its accounting policy for valuation of Raw Materials, Finished Goods, and Wort in Process from First !n First Out (FIFO) to mo~n1 weight ed average cost method w.e.f. March 31, 2026. The Group believes that this change to moving w,ighted average cost method Is preferab le as it reflects bett" m3tching of the actual cost flows with the physical flow of aoo<ls and also Improves comparability with Company's industry peers. Hence, It prov!des reliable and more relevant lnformation to the ustri of financial st.at ements about th• Group's Inventory valuation. In ae<:ordance with Ind AS 8, Accounting Polides, Chanr.es in Accountin1 Estimates and Errors, this chan1e in method of a<counting for inventories has been retrospectfvely applied to all prevfoys periods presented herein. Previous yeari comparative figures have been ad/ustied 10 reflect what tes1Jlts would have bHn had the Group applied moving weighted averagt cost method of Inventory valuation for inventories. The cumulativ e effect on retained n rninas for thesie chanaes was INR O.SO millions at 1st April. 2024. As a result o f the change in the Group's accounting poticy, Financial results for U'le quarter and hall vear ended September 30, 2025 have been restat,d. The lmpect on chine• in account!nc policy on Inventory has been •d]1Jsted by restatlnc each of the affected fln1nda l stat ement Une Items for the chance In pollcy as follows: {Amounts are In INR mltllonsl Sr. No Stat1m1nt of profit and los.i Qu1nerEnded Half Vear Ended llut111 ctl Se tember 30, 2025 Seotember 30, 202S l 1nerease/(decrease) In Cost of ma11ria!s consumed (17.08) (6.73) ' lncr use/( decrease) rn Changes in inventory of Finished goods, Traded Goods and Work-In-progress (10.86) 12.51 ' lncrease/(decreue) Profit before tax 27.94 (5.78) 4 lncrease/(decr ease) fn tax expense• Deferred tax (Credit)/ Charge 13.17 1.69 5 lncreast/(dee rease) Profit afteru x 14.77 (7.47) ' Chane• in EPS (S.slc) {INR) 0.13 [0.07) 7 Chine• in EPS (Oll vt■d) (INR) 0.13 (0.01) S. Ot:rin& tht Previous year. the Holdln1 Company has completed Its initial public offer (IPO) of 19,359,079 eq1Jity shares of face val Ye of !NR 2 each at an issue price of INR 465 per share (inclu ding share premium of INR 463 pt r $hare), comprlsir,g fresh rss1Je of 15,058,004 equity shares auregatlng 10 INR 6,999.99m illion (1ndud1n1 an employee discount oflNR 44 per share) and offtr for sale ol 4,301,075 eq1Jlty shares by selling shareholders aggre1a1ing to INR 1,999.99 millfon, 10111mng to lNR B,999.99 million. Pursuant to the IPO, the equity shares of the Holding Comp;w,ywert llsted on Natfonal StockExchan&e of India Umited (NSE) a11d SSE Limited {BSE) on September 26, 2025. The Company's share o f total offer expenses are estimated to be INR 424.82 mlll!on (exclusive of GST). Upon finalisation of the I PO-related expenses, the act\Jal expenditure amounted to Rs.390.83 mfl!ion. Accordin&IV, the un1Jtilised balance of Rs.33.99 million has been transferred to General Corporate PYrposes (GCP), rtsultin& !n a revised alloution of Rs.64.35 million towards GCP and Rs.390.83 million (exctusive of GST) towards Offer E•PeMes. The total proceeds from the Fresh Issue remain Ynchanged at Rs.7000.00 millton. The IPO proceeds (net of revised IPO , xpenses oflNR 390.83 million) which were Ynutilised asat September 30, 2026 are temporarily in~sted in fixed deposiu of scheduled commercial banks mainta ined In the monitoring agency accoYnt. and held in the p1Jbllc offer account. The utilization cf the IPO proceeds in relation 10 fresh Issue is summarized below: 1. 2. ,,_ No Object,; of the IS$ue Prepayment or schedultd re-payment, in fyll or In pan, of all or a ponlon of cenain outst anding borrowimzs availed bv curComoan Investment in our wholly owned Subsidiary, Saatvlk So11r lndYStrlu ?r!vate limited, In the form of deh1 or equity for repayment/ prepayment o f borrowings , in fYII or in part, of an or a portion of certain 01Jtstandin borrow in s aVii1ed bv such Subsidiarv Investment in ourwho Uvown ed Subsidiary, Saatvik Solar Industries Private l imited, for uttlne up of a 4 GW solar PV mod1Jle manufacturing facility at Nationa l Hl&hway-16, Chamakhandl, Gopalpur lnd1Jstrial Park. Gopalciur. G1nlam - 761 020, Odish1. Offer expenses Total Amount to be vtHlsed., pu th• prospect us 108.19 1,664.36 4,772.27 30.36 424,82 7,000.00 R•vised Cost to be utilised 108.19 1,664.36 4,772.27 64.35 390.83 7,000.00 Utilised amount upto Sept•mber 30, 2026 100.07 1,664.36 3,nB.8 1 12.72 376.40 5,882.36 (Amounts are In INR mlltlons Unutlllsed amount as •t September 30 2026 8.12 1,043.46 51.63 14.43 1,117.64 6. During the previo1Js quaritr, the Holding Company has entered into a Share PYrchase Agreement ('SPA'} 10 acquire 100% of the equity share capital of S.aa!'Yik Transvolt Solutions Private Limited (formerly known as Melcon Transformers and Electricals Private Limi ted) ('M•lcon'). Pursuant to the SPA, the Holdrna Company acqyJred 80% uaki!' for INR 24.00 mill1on, resulting in Melcon becomin g s1Jbsidiary of the Companv. The balance deferred consideration of INR 20 million (rtpr esentina the estimated fair value cf the remaining 20% stake) will be gaiid in neirt 2 years. Previous year's figures have been regrouoed / reclassified wtierever necessary to corre~pond with the current vear classification/ dfsdosure. a. The Un11Jdited Consolidated Fln..incial Results are available in the lnvesto" sectio n of our website at https://sa atvikgroup .com and fs a!s.o available on www.bs elndia.com and www.nsl"ind ia.com Place: G.-rugram Date: November 05, 2026 For •nd on b4half of Saatvik Green En1rcv Umlt,d (Formerty known ■s S■ atvlk Gretn Entr,v Private Umlted)
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Suresh Surana & Associates LLP Chartered Accountants Suresh Surana & Associates LLP 2nd Floor, Tower-8 8-37 Sector-1 Naida (NCR) - 201301. (U.P), India T +91 (120) 626 5555 newdell1i@ss-associates.com www.ss-associates.com LLP Identity No. AAB-7509 Independent Auditor's Review Report on Unaudited Standalone Financial Results for the Quarter and half year ended September 30, 2026, of the Saatvik Green Energy Limited (Formerly known as 'Saatvik Green Energy Private Limited') pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations") To The Board of Directors, Saatvik Green Energy Limited (Formerly known as 'Saatvik Green Energy Private Limited') ('the Company') 1. We have reviewed the accompanying statement of unaudited standalone financial results of the Company for the quarter and half year ended September 30, 2026 (the "Statement"), attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations"). 2. This Statement, which is the responsibility of the Company's Management and approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" ("IND AS 34"), prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India and is in compliance with the presentation and disclosure requirements of Regulation 33 of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 241 O "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditin s ecified under Section 143 (10) of the Companies Act, 2013 and consequently does not enable us to , ··"'··- at we would become aware of all significant matters that might be identified in an audit. ....,...;:__::::;..,, not express an audit opinion. Head Office: 8th Floor, Bakhtawar. 229, Nariman Point Mumbai - 400 021. India. T +91 (22) 6121 4444 emails@ss-associates.com Offices: Mumbai, Chennai, Kolkata, Bengaluru, Navi Mumbai, Surat, Hyderabad, Ahmedabad, Pune, Gandhidham, Jaipur and Vijayanagar. -
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Suresh Surana & Associates LLP Chartered Accountants 4. Based on our review conducted as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standards specified under section 133 of Companies Act, 2013 and other accounting practices and policies generally accepted in India, has not disclosed the information required to be disclosed in terms of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. For Suresh Surana & Associates LLP Chartered Accountants ICAI Reg. No. 121750W/W100010 \ Partner Kapil Membership No. 094902 UDIN: 2,094 902. D PM Sf H4-35.Z.. Dated: November 05, 2026 Place: Naida ■-
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Particulars (1) Income (a) Re11@nul! from op@ratlons (b) Other incoml! (2) f xpe nHS (a) Cost of materl 1ls and services consumed (b) PurchIses of stock-,n-:rad e Sutvlk Gru n Enucv Umlted (formerly known u S,utvlk Gru n Enercv Privet• UmltedJ CIN: l40105HR2015PLOl7SS78 Re11stered Office: Vltl11• Oubll, V.P.O. Biht1, Tehsil Ambal1 , HI1°1/In1- 133101, India Corporat e Offke: Tower A, IFFCO Comp!u-, Plot No. 3, lnstiti.nion1 I Area , Sector 32, Guru1rI m, HaryIn 1• 122001 w , b$1te: hnpJ:/ / s.1tvlk1roup.com , Email: lnv,-stors@lsaatv1k1roup.com, Tel.: 0124--3626755 St1tement of Unaudlt1d St1nd1lon1 Finand11I R11utu: for the quIrt 1r end h11f y11r ended September 30, 2026 I I Se t i mber 30, 2026 (UnIudlted) 2,903.24 246.73 3,149.97 I Quarter Ended lune 30, 2026 (Unaudit ed) 3,332.37 194.62 3,526.99 I I I S.p1embtr 30, 202S (Unaudited) Ri fer note • 4 5,552.11 168.62 S,720.73 {cJ Changes ln inventories of finished goods, work•ln-pro1ress and 5tod::•in-Trade (d) Emoloyee benefits , ;,,.pense 503.71 2.,247.68 (137.20) 94.87 67.07 35.63 152.59 528.78 1,774.52 763.60 129.lS 36.94 38.68 163.96 1,186.13 3,333.11 471.64 201.91 48.02 31.28 392.09 (e) Finance coils If) Depreciation i nd amortisation expense (C} Ot her u penSll!'S Tota l expenses (3) Profit before exeeplion al Items 11nd t u: 11·21 {41 Exceptional Items (R, fer note• 31 (5) Profh before t•x (3-41 !ii Curren! tax (ii] Tax for earHervears (iii) Deferred tax Total u x expenH (7) Profit for the perlod/y ttr (5-6) (I) Other compr ehens!vI fneom1 (I} Item s that will not be subsequ ently r1clllnlfled to profit or loss • Remus urement of the net def!ned benefit llability/(assets) • Income tax upenses rtlatlns 10 th• above Other comprehe nsive Income for the perkxl/ yH r, net of tu. (!I) Total compr eti. nsive Income for the pertod/yt1r, net of tu (7-+8) (10) Paid-up Equity Share Capftal Fi!CII!' 1/i!lue of the share (INRI OthereQuity (11) Earnln cs per equity share (INR)I (al Basic EP5 (b) Dilut ed EPS " Not annua11sed for Quarter ended September 30, 2026. June 30, 2026, and September 30. 2025. Su accompanying notes to the Unauditll!'d Standalone financial Resulu 2,964.35 185.62 185.62 47.46 ,.n 50.23 135.39 14.13 (3.56) 10.S7 145.96 254.22 2.00 1.07 106 3,435.63 91.36 91.36 27.13 {4.34) 22.79 68.S7 S.80 (1.46) 4.34 n .91 254.22 2.00 0.54 O.S"- 5,664.18 56.SS 56.SS 14.18 6.64 20.82 3S.73 3.73 39.46 2S4,22 2.00 0.32 0.32 I I I _tAil 1mounts are In INR mlll ion1, unlH s othuwlsa stl t ed) Hlllf YHr Ended I Yeu Ended S. ttmbu 30, 2026 I S.pt1mber 30 202S I Much 31, 2026 (Unaudited) I (Un1udlted) I (Audtt1d) 6,235.61 441.35 6,676.96 1.032.49 4,022.20 626.40 224.02 104.01 74.31 316.55 6,399.98 276.!:18 276.'8 74.59 (1.57) 73.02 203.96 19.93 {5.02) 14.91 211.87 254.22 2.00 1.60 1.60 I R,f.,not•• 4 9,330.07 286.91 9,616.98 2,909 33 6,250.85 (977.42) 395.87 107.55 66.31 683.84 9,436.33 180.65 180.65 52.32 ,.n 57.09 123.S6 (6.22) 1,57 14.65) 118.91 254,22 2.00 1.10 uo 22,622.20 1,164.83 23,787.03 3,852.23 17,643.20 (1,165.82) 7n.S6 251.97 1n.24 1,368.61 22,894.9!:I 8'2.04 39.46 852.58 253.58 a.es {24.53) 22!:l.73 622.85 (18.42) 4.64 (13.78) 609.07 2S4.22 2.00 9,791.13 5.20 "'
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Saatvik Green Energy Limited (formerly known as Saatvik Green Energy Private Limited) CIN: L40106HR2015PLC075578 Unaudited Standalone Statement of Asset & Liabilities as at September 30, 2026 (All amounts are in INR millions, unless otherwise stated) I As at I As at Particulars September 30, 2026 March 31, 2026 I (Unaudited) I (Audited) ASSETS (1) Non-current assets (a) Property, plant and equipment 247.80 318.16 (b) Right-of-use assets 92.52 115.63 (c) Investment in subsidiaries 2,572.55 2,525.07 (d) Financial assets (i) Investments 3,920.60 3,920.60 (ii) Other financ ial assets 22.24 10.10 (e) Deferred tax assets (net) 87.97 91.42 (f) Other Non-current assets 25.51 15.71 Total non~current assets 6,969.19 6,996.69 (2) Current assets (a) Inventories 1,576.77 2,069.59 (b) Financial assets (i) Trade receivables 1,109.37 3,160.25 (ii) Cash and cash equivalents 94.53 61.58 (iii) Bank balances othe r than (iii) above 159.18 88.52 (iv) Loans 1,022.31 419.27 (v) Other financia l assets 742.99 1,093.64 (c) Other current assets 2,508.95 996.42 Total current assets 7,214.10 7,889.27 Total assets 14,183.29 14,885.96 EQUITY AND LIABILITIES (1) EQUITY (a) Equity share capital 254.22 254.22 (b) Other equity 10,047.92 9,791.13 Tota l equity 10,302.14 10,045.35 (2) LIABILITIES Non-current liabilities (a) Financial liabilities (i) Borrowings 152.96 11.29 (ii) Lease liabilit ies 96.42 110.56 (iii) Other financial liabilities 10.00 (b) Provisions 67.73 87.74 (c) Other non-current liabilities a.so 0.54 Total non-current liabilit ies 327.61 210.13 Current liabilities (a) Financial liabilities (i) Borrowings 2,068.54 1,525.35 (ii) Lease liabili ties 13.09 21.06 (iii) Trade payables - Total outstan ding dues of micro enterprises and small enterprises 39.21 53.84 - Total outstanding dues of credito rs other than micro enterprises and small enterprises 1,110.83 2,516.15 (iv) Other financial liabilities 86.67 78.12 (b) Provisions 78.86 162.17 (c) Contract liabilities 71.79 183.79 (d) Current tax liabilities (net) 69.80 43.93 (e) Other current liabilities 14.75 46.07 Total current liabilities 3,553.54 4,630.48 Tota l liabilities 3,881.15 4,840.61 Total equity and liabilities 14,183.29 14,885.96 See accompanying notes to the Unaudited Standalone Financial Results
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Saatvik Green Energy Limited (formerly known as Saatvik Green Energy Private Limited) CIN: L40106HR2015PLC075578 Unaudited Standalone Statement of Cash Flows for the half year ended September 30, 2026 (All amounts are in INR millions unless otherwise stated] Half year ended Half year ended Particulars September 30, 2026 September 30, 2025 (Unaudited) (Unaudited) Refer note - 4 A, Cash flow from operating activities Profit before exceptional items and tax 276.98 180.65 Adjustments for: Interes t cost on borrowings , credit discounting and others 98.90 98.90 Interest income on bank and other deposits (12.56) (8.75) Int erest income on Security deposit (0.06) (0.65) Interest income on loan to related party (33.70) (18.92) Interest income on Non Convertible debentures (176.43) Liabilities no longer required written back (0.93) Depreciation on Right to use assets 8.61 24.42 Depreciation of property, plant and equipment 65.70 41.89 Foreign exchange loss (net] 5.14 26.70 Provision for warranty and replacement costs " 2.18 5.02 Provision for litigation (62.75) Interest cost on lease liabilit ies 5.11 7.42 Mark to market gain/ loss on derivative instrument (Net) 0.35 Provision for doubtful debt 2.31 Loss allowance for financial assets 21.30 29.62 Income from government grant (28.43) (108.47) Gain on sale of prope rty, plant and equipment (0.22) 0.38 Share-based payment to employees 6.10 31.77 Gain on termination of lease liabilities (1.76) (5.15) Operating cash flows before adjustments 173.18 307.49 (lncrease)/Decrease in trade receivables 2,052.74 1,156.73 (lncrease)/Decrease in inventories 492.82 63.44 (lncrease)/Decrease in other assets (1,506.32) 9.99 (lncrease)/Decrease in other financials assets 445.33 95.59 (Decrease)/lncrease in trade payables (1,399.53) (360.SS) (Decrease)/lncrease in contract liabili ties (112.00) (57.09) (Decrease)/lncrease in provisions (22.82) 12.66 (Decrease)/lncrease in other liabilities (2.93) 63.25 (Decrease)/lncrease in other financial liabilities (2.17) 20.40 Cash generated from operations 118.30 1,311.91 Income taxes paid (48.72) (340.28) Net cash generated from operating activities 69.58 971.63 B. Cash flow from investing activities Acquisition of property, plant and equipment (9.95) (41.01) (including capital work in progress and capital advances) Proceeds from sale of property , plant and equipment 10.94 0.28 Acquisition of investments in subsidiaries (24.00) Loans given to related parties and others (603.04) Investment in fixed deposit (331.16) (4,773.51) Redemption/maturity of fixed deposit 181.91 Interest received 159.12 5.06 Net cash generated used in investing activities (616.18) (4,809.18)
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Saatvik Green Energy Limited (formerly known as Saatvik Green Energy Private Limited) CIN: L40106HR2015PLC075578 Unaudited Standalone Statement of Cash Flows for the half year ended September 30, 2026 (All amounts are in INR millions unless otherwise stated) Particulars C. Cash flow from financing activities Proceeds from fresh issue of equity shares (net of share issue expense) Payment of principal portion of lease liabilities Payment of interest portion of lease liabili ties Interest paid (Repayment)/ Proceeds from borrowings (net) Net cash generated from financing activities Net increase in cash and cash equ ivalents (A+B+C) Cash and cash equivalents at the beginning of the period Cash and cash equivalents at the end of the period Cash and cash equivalents as per above comprise of following Particulars Cash on hand Balance with banks - in curre nt accounts - in EEFC accounts Deposits with original maturity of less than 3 months See accompanying notes to the Unaudited Standalone Financial Results Half year ended September 30, 2026 (Unaudited) (5.89) (5.11) (94.31) 684.86 579.55 32.95 61.58 94.53 As at September 30, 2026 0.31 44.32 49.90 94.53 Half year ended September 30, 2025 (Unaudit ed) Refer note - 4 6,602.57 (21.04) (7.42) (93.94) (109.07) 6,371.10 2,533.55 35.50 2,569.05 As at September 30, 2025 0.07 2,464.80 104.18 2,569.05
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Sut'll(k GrHn Enercy Umited (forme rly known u SHMk GrHn Enerrv Prt1o1te Umlted) Notes to the Uneudl ted Sund,!on e Flnende l Results f«the quarter end h•tf ye•r ended September 30, 2026 1. The Stiltement of Unaudited Standalone Financial Resula of Saatvlk Green Energy Limited (formerly known as Saarvik. Green Energy Pri1o;ate limited) (th e ·comp,1ny') has b"n prepared in •ccordance with !he recosnition and mHsurement prindples of Indian Accountin1 St andard 34 • Interim Financial Reporting prescribed under Section 133 of the Companies Act, 2013 (the RAct"') and other accounting prfndples generally accepted in lnd,a artCI presented in accordance with the regu1rements of Regulation 33 of the SEBI (Listing Obligatlons and Disclosure Require-menu) Regufa1lons, 2015, ('lis!lng Regulations'). The Statement of Unaudited Standalone Financial Results of the Company have been reviewed by the Audit Committu and approved by the Soard of Directors of the Companv rn their respective meetings held on November OS, 2026 and has been subject 10 limited review by the Statutory Audit ors of the Company. 2. The Company Is prim11rily engaged In the manufacturin1 of Solar Photovoltaic (PV) modules, Enafneerina, Procurement and Constn.ictlon (EPCI servku, design, constn.ictfon, procurement and commiuionina of Soli1r Photovoltafc Wat1r Pumpina Systems (SPWPS). Solarln vener, Battery and Solar Kil . n,, Chief Operatin& Decision Makers fCOOM) reviews the Companv's performance and allocates resources based on an overall assessment of the business as a slriale operating 5-egment. Accordingly, no other reoonable separate se11ment lnform;itlon is provided !n accordanct wi th the requirements of Ind AS 108- Operatin 1 Se1ments. 3. Dunng the quarter er1ded March 31, 2026, the Compariy has reassessed the useful life of cert ain plant & machinery based on the technical evahJation and Industry standards. Consequently, depre-datlon for the quarter and year ended March 31, 2026 was higher bv lNR 96.28 million. The Company h,11d also Identified impairment indicators fOI' its Monoperc cash-generati ng unit ('Monop erc CGU') arising from rapid 1echnologica1 advancements in the solar module industry a11d a strategic shift in management focus; and has accordlnilv re-asseued the recoverable- amount of the Monoperc CGU and r1coanised an Impairment loss oftN~ 39.46 million durin1 Quarter and yur ended March 31, 2026. 4, The Company has chanaed its accounlln1 policy for valuation of Raw MaterJals, Finished Goods, and Work in Process from Fi~t In First Out !FIFO) to movln1 w1l11ited aver.11e cost method w.e.f. March 31, 2026 Th, Company believes that this change to moving we11httd average cost method is pr@ferable as it reflects better matching of the actual cost flows with the physical trow of 1oods and also improves comparability with Company's induslr-t peers. Herict, l t provides rel!ab1e and more relevant informat ion to the users of financial statemen!S 11bou1 the Company's inv,e,ntory valuation. In a«ordance with Ind ASS, Accouritfn1 Pollcies, Cha rises in Accountfna Estimates and Errors, this chanae fn method of accounting for inventories has been retrospettlvely applied to all previous period presented herein. Previous years comparative figures have been adjusted to reflect what results would have been had the company appli ed moving weighted average cost method of tnvenrory valuatlon for inventori es. Thi! cumulative effect on retained earnings for the se changes was INR 1.77 millions at ls! April, 2024. As a result of the chan11 ln the compan(s ai:countlng poliev, Financial results for the quarter ended Sept ember 30, 2025, and half year ende-d September 30, 2025 have been restated. The lmpa,ct on ch,n1e In accountln1 poliev on Inventory hu bc1n 1djust1d by r1st1tln1 11ch of th• affected flnand1I statem,n t line l11m1 for the chan11 In policy u follows: IAmou nu 1r1 In INR millio ns) s,_ Statement of profrt and loss Qu1rterEnd1d H1lfY1u Ended No (elrtract) September 30 2025 S.pt1 mber 30, 2025 l lncraase/(decrease) In Cost of materia ls consumed (6.91) (29.14) 2 lncnase/(de crease) In Changes In Inventory of Finished goods, Traded Gcods and Work, ln-prog ress 5.04 18.51 ' lncrease/(decrease) Profit before tax 1.87 10.63 . lncrease/(decrease) in ta11 e~pense • Deferred t;u: (Credit}/ Char e 0.47 2.67 s lncrease/{decrea se) Profit after tax 1.40 7.96 ' Ch1n11 In EPS (Basic) IINR) O.Ql 0.07 7 Chlrn11 In EPS /0Jlut1d) IINRI 0.01 0.07 5. During the vear ended M arch 31, 2026, the Company has completed its initia l public offer(IPO) of 19.359,079 equity shares of face value of IN~ 2 each at an issue price of lNR 465 per share (lnclud/n1 a share prt-mium of INR 463 ptr share), comorising fresh fssue of 15,058,00-l equity shares aggregatln1 to INR 6,999.99 million (including an employee discount of INR 44 pt-r share) and offer for sale of 4.301,075 equity share-s by selling shareholders aggregatln11 10 INR 1,999.99 million, 101allin1 to INR S,999 99 million Pursuant to the IPO, the equity sharlS of the Company were listed on National Stock Exchari11e of !ndia limited (NSE) and BSE limit ed (BSE) on September 26, 2025. The Company's share of total offer upenses are estimated to be INR 424.82 million (e11dusive of GST). Upon finalisation of the IPO-related expenses. the actual e-xpe:nditure amounted to Rs.390.83 million. Accordiri1ly, the unutllised balance of Rs.33.99 million has been transferr ed lo General Corpora11 Purposes (GO), res1,1ltfng rn a revised allocation of Rs.64.35 million towards GCP and Rs.390.83 m!IUon (exclusive of GST) towards Otter Expenses. The tot al proceeds from the Fresh Issue remain unchanged at Rs.7000.00 million. The IPO proceeds (net of revised IPO expenses ol lNR 390.83 million) which w e-re unu1ilised as at St'ptembe r 30. 2026 are temporarily lnvtst ed fn foi:ed dtposits of Kheduled commerclal banks maintained in the monitorin 1 agency account, and held en the public offer account. The t,tilliatlon of the IPO proceeds in relatio n to fresh tssue is summarized below: ,,. No Objects of th, issue ,. '· Prepayment or scheduled re-pavment, in full or fn part, of all or a portion of certain outstandino borrowinas availed by our Company lnveument in our wholly owned Subsidto11ry, Saatvik So111r Industries Private limited, in tht- form of debt or equity for repayment/ prepayment of borrowln1s, in full or in part, of all or I portion of certain ouutanding borrow In s availed by such SubsidJarv Investment in our wholly owned Subsidia ry, Saatvik Solar Industries Private Umit,e,d, for setting up of a 4 GW solar PV module manufacturin& facility at Nation al Hl1hway- 16, Chamak.handl. Gopalpur Industrial Park, Gopalpur, Gan·am - 761020 Odisha. 4. General corporate purpos,e,s S. Offer expenSfls Toti ! Amount lo bl util!sed H per the prospectus 108.19 1,664.3.6 4,TT227 30.36 424.82 7 000,00 Revised Cost to be utilised 108.19 l,564.36 4,m.2 1 64.35 390.83 7,000.00 Utilised amount upt o Slpt1mbe r 30, 2026 100,07 1,664.36 3,nB.Sl 12.72 376.40 S,882.36 (Amounts are In INR millions) Unut/ llsed amount u 1t September .30, 2026 8.12 l.043.46 51.63 14.43 1,117.64 6. Ourin1 the quart1r ended June 30, 2025, the Company has entered Into a Share Purchase Agreement ('SPA') to acquire, 100% of the equity share capit al of Saatvik Transvolt Solut!ons Private Umfted (formerly known as Melcon Transformers and Electricals Privat e Limited) ('Melcon'). Pursuant to the SPA, lh~ Companv acquir1d 80% stake for INR 24.00 mill!on, resulting in Me Icon becomina subsldl.lf't of the Comp,11ny. The balance deferred consideration of INR 20 mil!fon {reoresentina the estimated fafr value of the remaining 20% stake) will be paid In ne)(t 2 ve-ars. 7. Previous year's figures have been r,e,grouped / reclassified wherever riecessar-t to correspon d with the current vur d assification / dlsclosurt- 8, TIie Unaudited Standalone Financial Results are available in the lnvesto~ Sflction of our website at https://saatvikgroup.com and is also available on www b~elndia.com and www.nseindia .com. Place. Gurugram Date: November OS, 2026 For and on behatt of Sutvi k GrHn En•rrv Umlt ed (Fom,erty known IS Sut'llik Green Enerrv Prlvat• Limited)