Solar Company Secures Approx 16 MW On-Grid Solar Rooftop Project from Madhya Pradesh Urja Vikas Nigam Ltd
The stock is up 78.33 per cent from its 52-week low of Rs 86.10 per share and delivered multibagger returns of 9,150 per cent in 5 years.
Servotech Renewable Power System Ltd. (NSE: SERVOTECH), India’s leading manufacturer of Solar Solutions, proudly announces it has secured an approximate 16 MW grid-connected solar rooftop project from Madhya Pradesh Urja Vikas Nigam Ltd., Department of New and Renewable Energy. This significant undertaking underscores Servotech's commitment to advancing India's renewable energy landscape and reinforces its expertise in large-scale solar deployments.
Under the terms of the agreement, Servotech Renewable will be responsible for the end-to-end execution of this ambitious project. This includes the design, supply, installation, and commissioning of on-grid rooftop solar systems, with individual capacities ranging from 1 KW up to 500 KW. The project aims to solarise multiple government buildings and offices in various locations across the state of Madhya Pradesh, significantly contributing to the state's ambitious renewable energy goals and broader decarbonisation efforts. A comprehensive 5-year warranty will accompany the installations, guaranteeing reliable and uninterrupted clean energy generation for the duration.
This landmark order represents a crucial milestone in Servotech's mission to accelerate the adoption of solar energy across India. It not only highlights the company's technical prowess but also solidifies its standing as a trusted and reliable partner for public-sector renewable energy initiatives. This project is a testament to Servotech’s growing footprint and its dedication to fostering a sustainable future for India. By providing robust and efficient solar solutions, Servotech continues to play a pivotal role in the nation’s transition towards cleaner energy sources.
Sarika Bhatia, Director, Servotech Renewable Power System Ltd., commented, “This is a major leap forward for Servotech. We’ve already been working with many states’ Nodal agencies across the country, and we’re happy to step into Madhya Pradesh. This project aligns seamlessly with India’s national renewable energy targets and will help accelerate Madhya Pradesh’s clean energy transition by supporting the state government’s vision to solarise its infrastructure and build a more sustainable future. We’re honoured to contribute to this transformative journey of the state of Madhya Pradesh. This project strengthens our position, establishing us as a key player in improving India’s solar infrastructure.”
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About the Company
Servotech Renewable Power System Limited (Formerly known as Servotech Power Systems Ltd.) is an NSE-listed organisation that develops tech-enabled EV Charging solutions, leveraging its over two decades of experience and expertise in the electronics space. We offer an extensive range of AC and DC chargers that are compatible with different electric vehicles and serve multiple applications, both commercial and domestic. With our comprehensive engineering capabilities, we plan to play a pivotal role in developing India's EV tech infrastructure. As a trusted brand with a strong pan-India presence, our legacy is marked by proven innovations and the development of advanced technologies.
In fiscal year 2025, the company demonstrated robust financial performance on a consolidated basis. Total revenue for the full year surged by 91 per cent to Rs 67,680.0 lakh, a significant increase from Rs 35,526.5 lakh in FY24. Concurrently, Profit After Tax (PAT) experienced an impressive 176.5 per cent rise, reaching Rs 3,263.7 lakh in FY25 compared to Rs 1,180.2 lakh in the previous year, with PAT margins improving from 3.3 per cent to 4.8 per cent. The fourth quarter of FY25 also showed positive trends, with total revenue growing by 7.9 per cent to Rs 14,746.0 lakh from Rs 13,665.4 lakh in Q4 FY24, and PAT more than doubling by 123.4 per cent to Rs 771.6 lakh from Rs 345.4 lakh in Q4 FY24.
The company has delivered good profit growth of 108 CAGR over the last 5 years and its median sales growth is 40.4 per cent over the last 10 years with a market cap of over Rs 3,300 crore. The stock is up 78.33 per cent from its 52-week low of Rs 86.10 per share and delivered multibagger returns of 9,150 per cent in 5 years.
Disclaimer: The article is for informational purposes only and not investment advice.