Servotech Renewable Power System has a market cap of 2000 Crores in June 2024, currently stock trading at 43% lower and the market was down to 1200 Crores in FY26-27. The company’s operation was in a booming future sector of the world.
Servotech Renewable Power System Ltd is a power and renewable company with more than 10M+ users all over the world. In India, they cover in 10 states to date.
There are many leading companies in renewable energy sector, KPI Green Energy, TATA Power, Insolation Energy, etc.
Servotech Renewable Power System History
Servotech Renewable Power System was incorporated in 2004 by Raman Bhatia in New Delhi. Currently he is the MD and Chairman of the company. He said “We are heading towards a new future, creating an environmentally conscious tomorrow with the transforming era of electric mobility.“
In 2004, Created sine wave inverter for indian users. In 2010, started solar street lights solar hybrid inverters for mass scale in india.
In 2017, the company got listed on stock exchanges like NSE and BSE. In 2022, the company began manufacturing EV chargers and became the market leader after Tata Power in the EV sector.
Servotech Power Systems Strategies For Future Growth
Driving digital channels to enhance profitability, Prioritise sustainability for efficient growth, target market segment and expand in that segment, diversify product portfolio.
Their vision is “Produce green to live green.” The company was rooted in five core values. Customer service, profitability, renewable and, commitment, and innovation.
Innovate with fresh thinking, using the best tools to analyse and drive sales, net zero use of resources and free the world from emissions. Customer satisfaction is the key metric for us to work, honestly with action and with proper rules and regulations.
Servotech Renewable Product Categories
They have a wide range of products from solar to EV and LEDs. They have a core domain in the EV charger segment.
| Products | Launch Year | Key Uses & Applications |
| Power & Backups | 2004 | Reliable energy for companies to work without tension |
| Servo Stabilizers | 2004 | Critical for the power and transmission industry |
| LEDs | 2009 | Major city-wide government infrastructure projects |
| Solar | 2010 | Generating free energy across domestic and commercial sectors |
| Medical Grade Devices | 2021 | Specialized equipment for the medical field |
| EV Chargers | 2022 | High-speed charging solutions for electric cars |
| Power & Distribution Transformers | 2023 | High-capacity electricity distribution networks |
| Geysers | 2023 | Efficient residential water heating solutions |
| Electrical Panels | 2023 | Industrial and commercial circuit protection |
| Solar Hybrid PCU | 2023 | Intelligent management of solar and grid energy |
| Constant Voltage Transformers (CVT) | 2023 | Protecting sensitive electronic devices from surges |
| Isolation Transformers | 2023 | Preventing electrical noise and ground loops |
When it comes to charging electric vehicles (EVs), there are two primary types of chargers: AC (Alternating Current) chargers and DC (Direct Current) chargers. Each type has its own characteristics, benefits, and use cases. Below is a comprehensive overview of both AC and DC chargers for EVs.
AC chargers, also known as Level 1 and Level 2 chargers, provide power to the onboard charger of an EV, which then converts the AC power to DC to charge the battery. They are widely used for residential and commercial charging.
DC chargers, also known as Level 3 chargers or fast chargers, provide DC power directly to the EV battery, bypassing the onboard charger. They are used for rapid charging, typically found in commercial and public settings.
Servotech Renewable Financial Statements
Cash Flow Statements of Servotech Power Systems in the financial year 2022-2023. The latest annual report is now shown on the company’s official website.
Here is the direct, raw data for the new financial years (FY24 and FY25) to add to your WordPress table. I’ve removed all my previous commentary as requested.
Updated Cash Flow Data (All Figures in Crores)
| Cash Flow Statements | FY2024-2025 | FY2023-2024 | FY2022-2023 |
| Cash Flow From Operating Activities | (55.4) | 0.8 | (24) |
| Cash Flow From Investing Activities | (16.3) | (25.1) | (12) |
| Cash Flow From Financing Activities | 47.8 | 74.4 | 45 |
| Total Cash and Cash Equivalents (Inc / Dec) | (23.9) | 50.1 | 8 |
| Cash at the beginning of the year | 66.4 | 16.3 | 8 |
| Cash at End of the year | 42.5 | 66.4 | 16 |
Cash and Cash Equivalents are short-term cash that the company can get very fast like money deposits in the bank, shares investment, paper cash, etc. If the company face any problem or they want to acquire any other company to expand their business, then the company uses cash and cash equivalents.
Data shows their cash flow from operating activities are in red means negative in FY24-25 means their most of their cash goes to working capital to manage business operations. This is bad for a company with such a high PE ratio of 61 stock will show possible downside in the upcoming day.
Diversification or Dilution? Analysing Servotech’s Rapid Product Expansion Since 2021
Servotech is a good company with a wide range of products. But the main problem with the company is not truly focusing on 2-3 products, they launch new products every year to increase revenue streams.
In my personal opinion, when any company focus on more than their core products and business, they will possibly face revenue decline.
While they have their core business goals intact with EV Charging Solutions, Solar Energy & EPC, Energy Storage (BESS), Power Backup (Inverters/UPS) segments.
If they add more products to their portfolio, then it will be risky for them to focus on their core business. It is not a dilution for business yet.
Servotech Renewable Power Systems Threats and Strengths in FY26-27
| 🚩 Red Flags (Risks) | 🍏 Green Flags (Growth) |
| Negative Operating Cash Flow (-₹55.4 Cr) | 90%+ Revenue Growth (YoY) |
| High PE Ratio (~54x) | Market Leader in EV Chargers after Tata |
| 0% Mutual Fund / DII Holding | 58% Strong Promoter Holding |
| Increasing Working Capital Days | Strategic 20-Year Technology Patents |
With zero mutual fund houses holding in this company, with 58% strong promoter holding means the promoter believes in their targets and goals while domestic fund houses sightly less conviction about business cash flow. From March 2025 to Dec 2025 Funds houses had not placed any buy orders.
Having a high P/E ratio but with a market leader in EV Chargers after TATA Power, the growth story of the company has just started; they have to achieve much more than they have. They are currently not expanding their business in talukas and particular districts of Maharashtra and south indian.
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. We are not SEBI-registered advisors. Stock investments are subject to market risks. Please consult your financial advisor before investing
