Synopsis:
The shares of this electric equipment company are in focus today after the company received an order for an on-grid solar project worth Rs 16.31 crore from a joint venture of the Ministry of Railways.
This company, which is a diversified clean-energy and power-electronics manufacturer offering EV chargers, solar products, energy-storage systems, and backup power solutions, had its shares in the spotlight today, following the announcement of the company bagging an order.
With the market cap of Rs 2,187 crore, the shares of Servotech Renewable Power System Ltd gained roughly 1.3 per cent and made a high of Rs 98.8 from its previous day closing price of Rs 97.52. The shares are trading at a PE of 100, whereas their industry PE is 51, and have given a 539% return in 3 years.
About the order
The company has been awarded a new contract by Railway Energy Management Company Ltd to deliver a solar power project at the Dedicated Freight Corridor Corporation of India Ltd complex in Noida. This involves the full spectrum of activities: design, supply, installation, testing, and commissioning, covering both ground-mounted and rooftop solar power systems.
The contract, valued at Rs 16.31 crore, is to be executed domestically and completed within 12 months from the date of the Letter of Award. The project is governed by general contract conditions and managed under the joint venture of REMCL, RITES Ltd, and the Ministry of Railways, furthering solar energy infrastructure for the Indian rail freight sector.
Financials and others
The revenue from operations for the company is at Rs 106.49 crore in Q2 FY26 versus Rs 199.67 crore in Q2 FY25, which is a fall of about 47 per cent on a YoY basis. Similarly, there has been a fall in net profit by 96 per cent when we compare the Q2 FY25 profit of Rs 11.25 crore with the Q2 FY26 profit of Rs 0.39 crore.
The company has secured a total of 43 MW in solar project wins, spread across 7 major contracts. A big share of these orders comes from Indian Railways, with projects across divisions such as North Western Railway, jaipur (7.3 MW), East Coast Railway (4.1 MW), North Central Railway, agra (3 MW), South Eastern Railway in Ranchi (2.58 MW), and Northern Railway in Moradabad (1.2 MW).
It has also won a significant 16 MW project from MP Urja Vikas Nigam Ltd. (MPUVN). Together, these wins show the company’s strengthening presence in government-led solar initiatives and its capability to handle large-scale installations across multiple regions.
The company works with some of the most trusted names across India, from oil and gas giants like HPCL, IndianOil, and BPCL to large institutions such as Indian Railways and MP Urja Vikas Nigam. It’s also a preferred partner for leading private players, including Tata Power, Tata Motors, Adani Gas, Nayara Energy, MG, and Maruti Suzuki, and even serves well-known hospitality brands like ITC Hotels and Oberoi. This wide mix of clients shows how strongly the company is valued across multiple industries, from energy and mobility to infrastructure and services.
Servotech Renewable Power System Ltd is one of India’s prominent names in clean-energy technology, known for building reliable solar products and EV charging solutions. With strong manufacturing capabilities, an active R&D team, and a presence across the country, the company develops everything from solar panels and inverters to batteries and modern EV chargers. Through its growing partnerships and large-scale installations, Servotech has become an important part of India’s shift toward cleaner, smarter, and more efficient energy systems.
Written by Leon Mendonca
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