In a significant development for India’s renewable energy sector, Sahaj Solar Ltd has entered into a major agreement with SK Solar Power Systems, valued at ₹628 million. The deal marks a strategic milestone for Sahaj Solar, reinforcing its position as a key player in the solar energy space and signaling its aggressive expansion plans for the coming years.
The agreement, announced in early August 2025, is expected to catalyze Sahaj Solar’s manufacturing capabilities and broaden its footprint in both domestic and international markets. With this move, the company continues to build on its momentum from a strong FY25 performance and a series of high-value orders earlier this year.
What the Agreement Entails
While the full details of the agreement remain under wraps, sources indicate that the ₹628 million deal involves a long-term partnership for solar panel manufacturing, supply chain integration, and joint execution of solar energy projects. SK Solar Power Systems, known for its engineering and procurement expertise, will collaborate with Sahaj Solar to scale up production and meet rising demand for clean energy solutions.
This partnership is expected to contribute significantly to Sahaj Solar’s order book, which stood at 51.4 MW as of September 2024. With an ambitious target of 1,500 MW capacity by FY26, the company is clearly positioning itself for exponential growth.
Financial Performance and Market Reaction
Sahaj Solar’s financials have been on an upward trajectory. The company reported a 61% increase in revenue from ₹61 crore in H1FY24 to ₹98 crore in H1FY25. Profits also jumped from ₹2 crore to ₹5 crore during the same period. Its return on equity (ROE) stands at an impressive 18.45%, while return on capital employed (ROCE) is 31.55%.
The market responded positively to the news. Shares of Sahaj Solar were trading at ₹510 apiece, reflecting investor confidence in the company’s growth strategy. With a market capitalization of ₹560 crore, the stock has gained over 56% since its listing in July 2024.
Strategic Vision and Expansion Plans
This agreement aligns with Sahaj Solar’s broader three-year growth plan, which includes:
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Manufacturing Expansion: Setting up a 1.5 GW solar module production line, with an initial order for 750 MW already underway.
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Geographic Diversification: Incorporating subsidiaries in the UAE and exploring new markets across Asia and Africa.
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IPP Projects: Partnering with industrial parks and independent power producers to deploy solar infrastructure.
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Energy Storage Solutions: Investing in battery technology and hybrid systems to complement solar installations.
The company’s vision is to become a global leader in renewable energy, and this deal with SK Solar Power Systems is a step in that direction.
What This Means for Investors
For investors, this agreement signals long-term value creation. Sahaj Solar’s consistent revenue growth, strong order pipeline, and strategic partnerships make it a compelling pick in the renewable energy sector. However, as with any micro-cap stock, volatility and execution risks remain.
The company’s low debt-to-equity ratio of 0.03 and healthy liquidity position offer some cushion against market fluctuations. Still, investors are advised to monitor upcoming quarterly results and project milestones closely.
About Sahaj Solar Ltd
Founded over a decade ago, Sahaj Solar specializes in solar PV modules, solar pumps, rooftop systems, and EPC services. It has executed over 40,000 solar water pump installations and maintains a 100 MW annual production capacity. The company’s client list includes major government agencies and private sector giants like Mahindra Susten and Maharashtra Energy Development Agency.
With sustainability at its core, Sahaj Solar aims to serve every individual and organization in their renewable energy journey—reducing costs, improving technology access, and delivering personalized service.
Sources: Sahaj Solar Investor Presentation, TradeBrains, Screener
