Synopsis:
Servotech Renewable Power secured a 2.58 MW rooftop solar project from Indian Railways’ Ranchi Division, reinforcing its renewable execution capabilities and supporting Indian Railways’ net-zero sustainability goals.
A renewable energy stock remained steady post announcement after securing a key rooftop solar project. The 2.58 MW grid-connected project reflects continued investor confidence in the company’s execution capabilities and positions it to benefit from India’s accelerating clean energy adoption and net-zero initiatives.
Servotech Renewable Power System Ltd, with a market cap of Rs. 2,851.75 crore, opened at its intra day high of Rs. 127 against the previous close of Rs. 128.03, registering an intraday change of negative 0.81 percent.
What’s the News?
Servotech Renewable Power, has secured a 2.58 MW grid-connected rooftop solar project from the South Eastern Railway, Ranchi Division. Under this contract, the company will handle the complete execution of the on-grid rooftop solar PV project, including design, manufacturing, supply, installation, testing, and commissioning of solar panels across multiple sites in the Ranchi Division. The project supports Indian Railways’ sustainability agenda and its target of achieving net-zero carbon emissions through large-scale renewable energy adoption.
The deal underscores Servotech’s leadership in the renewable sector and highlights Indian Railways’ commitment to expanding solar adoption across its divisions, contributing to India’s net-zero objectives.
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Comments from Management
Speaking of the project, Sarika Bhatia, Director, Servotech Renewable Power System Ltd. said, “We are honoured to once again work with the Indian Railways in their journey toward a cleaner and more sustainable future.
This project further reinforces the trust that Indian Railways has placed in Servotech Renewable’s expertise and execution capabilities. We will be leveraging our innovation in high-performance solar technology to help the South Eastern Railway to not just meet its sustainability goals, but to set a new standard for clean energy adoption across the entire transport sector and support them in their continued efforts toward a green energy transition.”
Financial Snapshot
Quarter-on-Quarter (QOQ) Performance: Servotech Renewable Power’s consolidated sales declined from Rs. 146.28 crore to Rs. 136.75 crore, down 6.54 percent. Operating profit fell from Rs. 12.20 crore to Rs. 10.41 crore, a decline of 14.67 percent. PBT dropped from Rs. 10.50 crore to Rs. 6.57 crore, down 37.43 percent, while net profit decreased from Rs. 7.72 crore to Rs. 4.55 crore, down 41.07 percent.
Year-on-Year (YOY) Performance: On a yearly basis, sales grew from Rs. 112.19 crore to Rs. 136.75 crore, up 21.88 percent. Operating profit increased from Rs. 8.29 crore to Rs. 10.41 crore, a rise of 25.60 percent. PBT rose from Rs. 6.15 crore to Rs. 6.57 crore, up 6.83 percent, while net profit edged higher from Rs. 4.49 crore to Rs. 4.55 crore, a growth of 1.34 percent.
About the Company
Servotech Renewable Power System Limited, formerly Servotech Power Systems Ltd., is an NSE-listed company specializing in tech-enabled EV charging solutions and renewable energy projects.
Leveraging over two decades of electronics expertise, the company offers a wide range of AC and DC chargers compatible with diverse electric vehicles and applications, both commercial and domestic.
With strong pan-India presence and engineering capabilities, Servotech aims to play a pivotal role in building India’s EV and renewable energy infrastructure through innovation and advanced technologies.
Written By Manan Gangwar
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