SERVOTECH - Servotech Renew
📢 Recent Corporate Announcements
Servotech Renewable Power System reported a standalone net profit of ₹36.26 crore for FY26, up from ₹33.47 crore in the previous fiscal year. Revenue from operations for the full year reached ₹636.73 crore, reflecting steady annual growth. The fourth quarter was particularly strong, with revenue jumping 66% YoY to ₹209.64 crore. Additionally, the board has recommended a final dividend of 2% (₹0.02 per share) for the financial year 2025-2026.
- FY26 Standalone Revenue from Operations increased to ₹636.73 crore vs ₹567.30 crore in FY25.
- Q4 FY26 Standalone Net Profit grew to ₹11.73 crore compared to ₹7.85 crore in Q4 FY25.
- Board recommended a final dividend of ₹0.02 per equity share of face value ₹1.
- Total Standalone Assets expanded significantly to ₹621.58 crore from ₹376.47 crore YoY.
- Auditors issued an unmodified opinion on both standalone and consolidated financial results.
Servotech Renewable Power System Limited has scheduled its earnings conference call for the fourth quarter and full year ended March 31, 2026. The call is set for Friday, May 1, 2026, at 02:30 PM IST. Senior management, including the Founder & Managing Director and the CFO, will discuss the company's audited financial performance and future outlook. This event is a standard procedure following the conclusion of the fiscal year to provide transparency to shareholders.
- Earnings call scheduled for May 1, 2026, at 02:30 PM IST to discuss Q4 and FY26 results.
- Management representation includes Founder & MD Raman Bhatia and CFO Vipin Kaushik.
- Universal dial-in numbers provided are 022 6280 1362 and 022 7115 8373.
- The call will cover audited financial results for the full year ended March 31, 2026.
Servotech Renewable Power System Ltd. has appointed Prem Prakash as Chief Operating Officer, effective April 1, 2026. Prakash brings over 25 years of leadership experience from sectors including EV infrastructure, green technology, and FMCG. He has previously held key roles at organizations such as Dish TV and Nerolac Paints, specializing in business transformation and operational excellence. This strategic appointment aims to strengthen the company's execution capabilities as it expands its presence in the global renewable energy and EV charging markets.
- Prem Prakash appointed as COO effective April 01, 2026, to lead operational strategy
- Over 25 years of experience across EV infrastructure, green tech, and consumer durables
- Educational background from premier institutions like FMS and NLSIU Bangalore
- Previous leadership stints at Dish TV, Nerolac Paints, and Bharatmatrimony
Servotech Renewable Power System Ltd. has announced the promotion of Vipin Kaushik to Chief Financial Officer (CFO) and Key Managerial Personnel (KMP), effective April 1, 2026. Kaushik, who previously served as the company's Financial Controller, brings over 20 years of experience in corporate finance and strategy from organizations like ICICI Bank and Delhivery. This internal elevation is designed to ensure continuity in financial discipline as the company pursues global expansion in the EV charging and renewable energy sectors. The appointment follows formal approval from the Board of Directors and relevant committees.
- Vipin Kaushik appointed as CFO and KMP effective April 1, 2026
- Brings over 20 years of experience in finance, taxation, and compliance
- Previous leadership experience at ICICI Bank, Delhivery Ltd., and V2 Retail Ltd.
- Strategic focus on capital allocation and operational efficiency for global growth
Servotech Renewable Power System Limited has announced a comprehensive leadership transition effective April 1, 2026. Mr. Vipin Kaushik, a Chartered Accountant with over 20 years of experience, will succeed Mr. Vikas Bhatia as the Chief Financial Officer. Additionally, Mr. Prem Prakash, who brings 25 years of leadership experience in EV infrastructure and business strategy, has been appointed as the new Chief Operating Officer. The company also appointed a new Internal Auditor with immediate effect to strengthen its risk control and governance frameworks.
- Mr. Vipin Kaushik (20+ years experience) appointed as CFO effective April 1, 2026.
- Mr. Prem Prakash (25+ years experience) appointed as COO effective April 1, 2026.
- Outgoing CFO Mr. Vikas Bhatia will transition to a new internal role within the company.
- Mr. Abhishek Khandelwal appointed as Internal Auditor with immediate effect, bringing 8+ years of audit experience.
- Former COO Mr. Anil Kumar Yadav re-designated as Head - EPC Planning & Engineering to focus on technical execution.
Servotech Renewable Power System Limited has announced a comprehensive leadership reshuffle effective from late March and early April 2026. Mr. Vipin Kaushik, a Chartered Accountant with over 20 years of experience, will succeed Mr. Vikas Bhatia as CFO, while the latter transitions to a new internal role. The company also appointed Mr. Prem Prakash, who brings 25 years of cross-sector leadership experience, as the new Chief Operating Officer. Additionally, Mr. Abhishek Khandelwal has been appointed as Internal Auditor to enhance risk control and operational efficiency.
- Mr. Vipin Kaushik (CA with 20+ years experience) appointed as CFO effective April 1, 2026
- Mr. Prem Prakash (25+ years experience) appointed as COO effective April 1, 2026
- Mr. Vikas Bhatia to relinquish CFO post on March 31, 2026, to transition into a new internal role
- Mr. Abhishek Khandelwal (CA with 8+ years experience) appointed as Internal Auditor with immediate effect
- Former COO Mr. Anil Kumar Yadav re-designated as Head - EPC Planning & Engineering
Servotech Renewable Power System Limited has announced a significant restructuring of its top management effective April 1, 2026. Mr. Vipin Kaushik, a Chartered Accountant with over 20 years of experience, will take over as the Chief Financial Officer from Mr. Vikas Bhatia, who is transitioning to a new internal role. Additionally, the company has appointed Mr. Prem Prakash, who brings 25 years of cross-sector experience, as the new Chief Operating Officer. These changes, along with the appointment of a new Internal Auditor, indicate a strategic move to strengthen corporate governance and operational leadership.
- Mr. Vipin Kaushik appointed as CFO effective April 1, 2026, bringing 20+ years of experience in finance, accounts, and taxation.
- Mr. Prem Prakash appointed as COO effective April 1, 2026, with over 25 years of leadership experience across EV infrastructure and FMCG sectors.
- Mr. Vikas Bhatia to relinquish CFO position on March 31, 2026, to transition into a new role within the company.
- Mr. Abhishek Khandelwal appointed as Internal Auditor with immediate effect, possessing 8+ years of experience in risk control.
- Former COO Mr. Anil Kumar Yadav re-designated as Head - EPC Planning & Engineering to focus on technical execution.
Servotech Renewable Power System Limited has announced a significant restructuring of its senior leadership team effective April 1, 2026. Mr. Vipin Kaushik, a Chartered Accountant with over 20 years of experience, will take over as Chief Financial Officer from Mr. Vikas Bhatia, who is transitioning to a new internal role. Additionally, Mr. Prem Prakash, who brings 25+ years of leadership experience across EV infrastructure and business strategy, has been appointed as the new Chief Operating Officer. The company also appointed a new Internal Auditor and re-designated the former COO to lead EPC Planning & Engineering.
- Mr. Vipin Kaushik appointed as CFO effective April 1, 2026, bringing 20+ years of experience in finance and taxation.
- Mr. Prem Prakash appointed as COO effective April 1, 2026, with 25+ years of experience in sectors including EV infrastructure and green mobility.
- Mr. Vikas Bhatia relinquishes CFO position on March 31, 2026, to transition into a new role within the organization.
- Mr. Abhishek Khandelwal appointed as Internal Auditor with immediate effect to strengthen risk control and compliance.
- Former COO Mr. Anil Kumar Yadav re-designated as Head - EPC Planning & Engineering to focus on technical execution.
Servotech Renewable Power System Limited has restructured its senior leadership team, appointing Mr. Vipin Kaushik as the new CFO and Mr. Prem Prakash as the new COO, effective April 1, 2026. Mr. Kaushik brings over 20 years of financial expertise, while Mr. Prakash has 25 years of experience in sectors including EV infrastructure and green mobility. The outgoing CFO, Mr. Vikas Bhatia, is transitioning to a new internal role, and the former COO, Mr. Anil Kumar Yadav, will now lead EPC Planning & Engineering. Additionally, an Internal Auditor has been appointed to enhance risk management and compliance.
- Mr. Vipin Kaushik (20+ years experience) to succeed Mr. Vikas Bhatia as CFO on April 1, 2026.
- Mr. Prem Prakash (25+ years experience) appointed as COO to drive EV infrastructure and business strategy.
- Mr. Abhishek Khandelwal (8+ years experience) appointed as Internal Auditor with immediate effect.
- Former COO Mr. Anil Kumar Yadav re-designated as Head of EPC Planning & Engineering to focus on technical execution.
Servotech Renewable Power System Limited has notified the exchange that its trading window will be closed starting April 1, 2026. This closure is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, ahead of the company's audited financial results for the quarter and year ending March 31, 2026. The window will remain shut for all designated persons and their relatives until 48 hours after the results are declared. This is a standard regulatory procedure for listed companies in India.
- Trading window closure effective from Wednesday, April 1, 2026.
- Closure pertains to the Audited Financial Results for the quarter and year ended March 31, 2026.
- Restriction remains in place until 48 hours after the official announcement of results.
- Applies to all Designated Persons including Directors and designated employees as per Company Code.
Servotech Renewable Power System Limited has successfully passed two special resolutions via postal ballot as of March 6, 2026. Shareholders approved the regularization of Dr. Prabhat Kumar and the re-appointment of Mr. Meenakshisundaram Kolandaivel as Non-Executive Independent Directors. Both resolutions received overwhelming support, with approval ratings of 99.99% and 99.87% respectively. The voting saw a total turnout representing approximately 67.08% of the eligible voting power.
- Regularization of Dr. Prabhat Kumar as Independent Director approved with 15,14,97,221 votes (99.99% assent).
- Re-appointment of Mr. Meenakshisundaram Kolandaivel approved with 15,13,11,877 votes (99.87% assent).
- Total voter turnout represented 67.08% of the total shares held by the participating categories.
- The voting process was conducted via remote e-voting between February 5 and March 6, 2026.
- Promoter group showed 100% consensus in favor of both management resolutions.
Servotech Renewable Power System Limited has announced the termination of a solar project order valued at ₹73.70 Crore from NREDCAP. The project, originally awarded in November 2025, involved grid-connected rooftop solar installations in Andhra Pradesh. The termination resulted from a revision of payment and commercial terms by the client which the company found unfeasible. Servotech confirmed that no revenue was recognized from this order and the bank guarantee has been withdrawn, ensuring no material impact on its financial position.
- Termination of ₹73.70 Crore order for rooftop solar projects in Kavali Division
- Order was originally awarded by NREDCAP in November 2025
- Decision driven by unfavorable revisions to payment and commercial terms post-LOA
- Bank guarantee successfully withdrawn with no financial obligations remaining
- No revenue was recognized, resulting in no material impact on current financials
Servotech reported a strong sequential recovery in Q3 FY26 with consolidated revenue reaching ₹212 crore and a PAT of ₹15.5 crore. The growth was primarily driven by the solar segment, while the EV charging segment contributed less than 10% due to industry-wide infrastructure-related delays. Management highlighted a significant expansion in inverter manufacturing capacity, aiming for 25,000 units per month. The company is also launching its in-house lithium battery dispatches in March 2026, targeting an additional ₹100 crore in revenue impact.
- Consolidated revenue stood at ₹212 crore with an EBITDA of ₹28.5 crore and PAT of ₹15.5 crore.
- Solar segment remains the primary revenue driver, with EV charging contributing less than 10% this quarter.
- Targeting a 150% increase in inverter manufacturing capacity from 10,000 to 25,000 units per month within 3 months.
- Lithium battery plant established with dispatches starting March 2026, aiming for 60,000 battery packs annually.
- Established a UAE subsidiary to serve as a global procurement hub and international expansion gateway.
Servotech Renewable Power System Limited has initiated a postal ballot to seek shareholder approval for two key board positions. The company is proposing the regularization of Dr. Prabhat Kumar as a Non-Executive Independent Director for a three-year term. Additionally, it seeks to re-appoint Mr. Meenakshisundaram Kolandaivel for a second three-year term starting in June 2026. The e-voting period for these special resolutions is scheduled to run from February 5, 2026, to March 6, 2026.
- Proposed regularization of Dr. Prabhat Kumar as Independent Director for a 3-year term until December 2028
- Proposed re-appointment of Mr. Meenakshisundaram Kolandaivel for a second 3-year term until June 2029
- Remote e-voting period set from February 5, 2026, to March 6, 2026
- Voting results to be declared on or before March 8, 2026
- Cut-off date for determining shareholder voting eligibility was January 30, 2026
Servotech Renewable Power System Limited has officially released the audio recording of its earnings conference call held on February 3, 2026. The call focused on the un-audited standalone and consolidated financial results for the third quarter ended December 31, 2025. This filing is a mandatory regulatory requirement under SEBI (LODR) Regulations to ensure transparency for all shareholders. The recording provides a platform for investors to hear management's detailed perspective on the quarter's performance and strategic initiatives.
- Audio recording of the Q3 FY2026 earnings call held on February 3, 2026, is now live.
- Covers un-audited standalone and consolidated financial results for the quarter ended December 31, 2025.
- Compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
- Direct access provided via the company's official website link for investor transparency.
Financial Performance
Revenue Growth by Segment
Total Operating Income (TOI) grew 22.69% to INR 305.69 Cr in FY24 from INR 249.15 Cr in FY23, driven by deeper penetration in Solar and EV segments. Consolidated revenue for H1 FY26 stood at INR 244.82 Cr.
Profitability Margins
Net Profit ratio improved 53.93% to 5.68% in FY25 from 3.69% in FY24. Return on Equity (ROE) increased 75.46% to 18.95% in FY25 from 10.80% in FY24, while Return on Capital Employed (ROCE) grew 97.21% to 17.67% from 8.96% in FY24.
EBITDA Margin
EBITDA margin was 6.61% in FY24, a moderation of 55 bps from 7.16% in FY23 due to increased manufacturing, administration, and employee benefit expenses.
Capital Expenditure
The company is setting up a new unit to double its production capacity; specific INR Cr expenditure for this expansion was not disclosed.
Credit Rating & Borrowing
CRISIL Ratings assigned a 'Stable' outlook with bank limits of INR 47 Cr utilized at 64%. Infomerics Ratings assigned 'IVR BBB/Stable' for long-term facilities. Interest coverage ratio stood at 6.28x in FY24.
Operational Drivers
Raw Materials
Raw materials include components for EV chargers, solar inverters, batteries, and solar panels, representing ~80% of total costs.
Capacity Expansion
Current capacity is being expanded to double existing output to support growth beyond the INR 500 Cr revenue mark.
Raw Material Costs
Raw material costs represent ~80% of total costs. EBITDA margins moderated by 55 bps in FY24 partly due to manufacturing expense increases.
Manufacturing Efficiency
Operating Profit Ratio improved 36% to 8.99% in FY25 from 6.61% in FY24, reflecting higher margins in sales.
Logistics & Distribution
Logistic delays are identified as a threat to the supply chain; specific distribution costs were not disclosed.
Strategic Growth
Expected Growth Rate
40%
Growth Strategy
The company aims to leap from the INR 500 Cr revenue block to INR 2,500 Cr by expanding infrastructure, manpower alignment, and product shifting. Growth is supported by securing large government projects, such as the INR 73.70 Cr rooftop solar project from NREDCAP and the INR 16.31 Cr grid-connected solar project from Railway Energy Management Company Ltd.
Products & Services
EV chargers (AC/DC), solar inverters, batteries, solar panels, battery energy storage systems, Servo Stabilizers, and LED lighting solutions.
Brand Portfolio
Servotech
New Products/Services
Development of ultra-fast DC chargers and home AC chargers to capture the expanding EV infrastructure market.
Market Expansion
Expansion into grassroots levels for better profits and strategic alliances/joint ventures for new market entries.
Strategic Alliances
Strategic alliances and JVs are planned to expand market presence, though specific partner names were not disclosed.
External Factors
Industry Trends
The industry is seeing a thrust from the Government to increase EV and Solar penetration through incentives and subsidies, supporting Servotech's 22.69% revenue growth in FY24.
Competitive Landscape
Intense price-based competition from other players in the renewable energy and EV charging sectors.
Competitive Moat
Moat is built on the 21-year industry experience of promoters and established relationships with B2B customers and suppliers, enabling a 40% CAGR over the last three fiscals.
Macro Economic Sensitivity
Sensitive to economic and political conditions, changes in government regulations, and tax policies.
Consumer Behavior
Increasing demand from environmentally conscious customers and investors aligned with green initiatives.
Geopolitical Risks
Global supply chain disruptions and raw material shortages are identified as key threats.
Regulatory & Governance
Industry Regulations
Regulatory changes could increase compliance costs and operational complexity; the company maintains an internal control system to satisfy legal and industry standards.
Environmental Compliance
The company stays aligned with green initiatives to attract environmentally conscious investors; specific ESG costs were not disclosed.
Taxation Policy Impact
Changes in tax policies are noted as a factor that could influence performance.
Risk Analysis
Key Uncertainties
Rapid technological shifts and regulatory changes are primary uncertainties that could require significant capital or increase operational costs.
Third Party Dependencies
High dependency on raw material suppliers as they constitute ~80% of the cost structure.
Technology Obsolescence Risk
High risk of rapid technological shifts in the EV charging space requiring ongoing R&D and capital investment.
Credit & Counterparty Risk
Receivables from retail customers are typically received within 30-45 days; operations remain working capital intensive due to high debtors (96.05 days in FY25).