Servotech Renewable Power System
SERVOTECH · NSE · Small Cap
Servotech Renewable Power System
Solar inverters, EV chargers and rooftop solutions positioned for PM Surya Ghar tailwind.
Scoring breakdown
SageOne-style fundamental · TQ-100 technical · solar overlays
52-week position
Real snapshot from Screener
Investment thesis
One-liner · bull · bear · monitorables
One-liner. Servotech Renewable Power System: rooftop and utility inverter demand grows faster than module shipments through FY28.
Bull case for Servotech Renewable Power System: continued capacity ramp at attractive unit economics, supportive policy (PLI / ALMM / RPO / open access), benign module + commodity cycle, healthy receivable conversion, and re-rating from current valuation as execution beats consensus.
Bear case for Servotech Renewable Power System: module/tariff price crash, working-capital blowout from DISCOM receivables, leverage spiking past 4x net-debt/EBITDA, ALMM/PLI delays, Chinese dumping, and de-rating to historical median multiples on growth disappointment.
- 01Quarterly capacity commissioned vs guidance
- 02Receivable days from DISCOMs and large customers
- 03Net debt / EBITDA trajectory
- 04Order book to revenue cover
Solar exposure
Directness · policy linkage · BOM
Valuation snapshot
Multiple methods · solar-specific multiples
| Method | Value | Hist %ile |
|---|---|---|
| P/E (TTM) | 65.6x | — |
| Forward P/E | — | — |
| EV/EBITDA | 36.0x | — |
| EV/Sales | 3.6x | — |
| P/B | 7.6x | — |
| FCF Yield | -5.3% | — |
Project pipeline
1 tracked project
Financials
Source: Screener.in (consolidated) · ticker SERVOTECH · last updated 2026-05-11
Ratio analysis (derived from statements)
Growth · profitability · returns · leverage · cash flow · valuation
Annual P&L · 5 years
₹ Crore. Source: Screener.in consolidated.
| Metric | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Sales | 144 | 278 | 353 | 674 | 672 |
| Operating Profit | 9 | 19 | 21 | 56 | 67 |
| OPM % | 6% | 7% | 6% | 8% | 10% |
| Net Profit | 4 | 11 | 12 | 33 | 32 |
| EPS (₹) | 0.22 | 0.52 | 0.54 | 1.46 | 1.49 |
Quarterly results · last 4 quarters
₹ Crore.
| Metric | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|
| Sales | 146 | 137 | 106 | 211 |
| OPM % | 8% | 8% | 6% | 13% |
| Net Profit | 8 | 5 | 0 | 16 |
Balance sheet · 5 years
₹ Crore.
| Item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Equity Capital | 19 | 21 | 22 | 22 | 23 |
| Reserves | 28 | 61 | 120 | 214 | 265 |
| Borrowings | 19 | 42 | 73 | 75 | 211 |
| Fixed Assets | — | — | — | — | — |
| Total Assets | 89 | 167 | 277 | 410 | 685 |
Cash flow · 5 years
₹ Crore.
| Activity | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Operating | 8 | -24 | 1 | -55 | -2 |
| Investing | -2 | -13 | -25 | -16 | -114 |
| Financing | -1 | 45 | 74 | 48 | 144 |
| Net Cash Flow | 5 | 8 | 50 | -23 | 28 |
Shareholding pattern
Latest disclosed
Policy linkages
Schemes where this company is a confirmed or likely beneficiary