Servotech Renewable Power System, a manufacturer of EV chargers, solar products and power backup solutions, on Tuesday announced its financial results for the quarter ended June (Q1 FY27), reporting a 74.5% year-on-year rise in its consolidated net profit at ₹7.94 crore, compared with ₹4.55 crore in the year-ago quarter.
On the top line, the company reported a 57.7% year-on-year increase in consolidated revenue from operations to ₹216.29 crore. The company had reported revenue of ₹137.17 crore in the corresponding quarter last year.
During the quarter, solar plants remained the largest contributor to revenue, accounting for 49.7% of the total, followed by solar panels & BOS at 25.8% and solar inverters at 19.3%. The Power segment contributed 2.7%, while EV chargers accounted for 2.5% of the company’s overall revenue.
Although the year-on-year growth was strong, the performance was weaker on a sequential basis. The company reported a net profit of ₹11 crore in the preceding March quarter, while revenue remained largely flat at ₹217 crore.
Commenting on the performance, Raman Bhatia, managing director of Servotech Renewable Power System Ltd, said, “The first quarter of FY27 reflects the strength of our execution capabilities and the growing market acceptance of our integrated clean energy solutions.”
He added, “We have delivered strong growth across revenue and profitability while continuing to invest in innovation, manufacturing expansion, and technology development. The momentum witnessed during the quarter is a result of our disciplined approach to execution and our ability to capitalise on opportunities emerging across the renewable energy, BESS, and EV charging sectors.”
Looking ahead, Bhatia said the company remains confident that its expanding manufacturing footprint and sustained investments in innovation will position it well to create long-term value for stakeholders while contributing meaningfully to India’s clean energy transition.
Meanwhile, the company recently secured a 1,415-kW rooftop solar project from the South-Central Railway’s Vijayawada Division. It also signed a ₹400 crore MoU with the Haryana government to expand its manufacturing capacity in the state.
Stock recovers over 60% from March lows
The stock has staged a strong recovery in recent months after undergoing a prolonged correction. From its March low, the shares have rebounded 61.3% to trade at around ₹100.50 apiece. The stock surged 52% in April, marking its biggest monthly gain since March 2023.
Despite the sharp rebound, the stock is still trading 51% below its all-time high of ₹205.40. It underwent one of its steepest corrections between November 2024 and January 2026, during which it lost nearly 70% of its value.
Despite the sharp correction, retail investor confidence has remained resilient. Their combined shareholding stood unchanged at 41.3% during the June quarter and has increased from 38.4% in the corresponding quarter last year.
Between 2020 and 2024, the stock enjoyed a sustained bull run, ending each calendar year in positive territory and delivering a staggering 22,420% cumulative return.
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