Shares of Servotech Renewable Power System Ltd, a company specializing in manufacturing EV chargers, solar products, and power & backup solutions, hit the upper circuit today, soaring 20% after reporting a solid financial performance in the third quarter of FY26. The stock reached a high of Rs 70.86 per share, up from Rs 59.05, with a market capitalization of approximately Rs 1,600 crore.
Over the past year, the stock has corrected nearly 50%, contrasting with the NIFTY 50’s positive return of 9%.
Q3 Highlights:
- The company’s revenue from operations stood at Rs 211 crore in Q3 FY26, a slight decline of 2.4% year-on-year (YoY) from Rs 216 crore in the same quarter last year. However, on a quarter-on-quarter (QoQ) basis, revenue surged by 98% from Rs 106 crore.
- EBITDA for the quarter reached Rs 28.46 crore, marking a 70% increase YoY from Rs 16.73 crore. QoQ, EBITDA grew an impressive 282% from Rs 7.45 crore.
- EBITDA margins expanded significantly, rising 575 basis points YoY and 654 basis points QoQ to reach 13.46% in Q3 FY26.
- Net profit for the quarter was Rs 15.52 crore, up 69% YoY from Rs 9.2 crore. QoQ, net profit saw an extraordinary growth of 3,826%, from just Rs 39.50 lakh.
Business Overview:
Servotech manufactures and markets LED lighting, EV chargers, and solar power products for both domestic and international markets, including LED lights, solar inverters, panels, batteries, and servo stabilizers. The company also offers UV-C disinfectant devices, oxygen concentrators, and components for EV charging infrastructure like power modules and control circuits.
With over 12,500 AC and DC EV chargers deployed across India, Servotech has established a strong presence, serving clients such as BPCL, HPCL, Indian Oil, and Nayara Energy.
The company’s recent quarterly results and stock surge reflect investor confidence in its growth prospects amidst expanding demand for renewable energy and electric vehicle infrastructure in India.