Servotech Wins First Railway Solar Project – 2MW Order From North Eastern Railway

The first solar rooftop order of around 2 MW was successfully acquired by Servotech Renewable Power System Ltd, a prominent supplier of solar solutions and EV chargers, from North Eastern Railway (NER), Lucknow Division, on Wednesday. After the news, Servotech Renewable Power System's shares were trading on the NSE at Rs 123.37 a share, down 2.46%, with a market value of Rs 2.77KCr at approximately 1:53 p.m. IST.

By collaborating closely with state governments, major oil marketing corporations, and nodal agencies to implement solar solutions and EV charging infrastructure nationwide, Servotech has had a significant impact on the renewable energy sector.

Sarika Bhatia, Director, Servotech Renewable Power System Ltd. (formerly known as Servotech Power Systems Ltd.) said, "This first order in the railway sector is a testament to our technological capabilities and our commitment to providing sustainable energy solutions across various industries. We are enthusiastic about the potential opportunities within this sector and are confident in securing further solar projects in the near future. Our expertise will significantly support Indian Railways' green energy initiatives".

"The company is dedicated to innovation and providing sustainable solutions, and is now actively expanding its footprint within the Indian Railway sector to contribute their ambitious sustainability goals. This entry into the railway sector opens up new avenues for growth and aligns with the company's vision of contributing to a greener future throughout the Indian Railways," Servotech Renewable Power System said in a statement on Wednesday.

Servotech Renewable Power System Ltd. and the Chamber of Indian Micro, Small, and Medium Enterprises (CIMSME) signed an agreement last month to promote the use of solar energy throughout the nation. The government's PM Surya Ghar Muft Bijli Yojana initiative, which aims to install 100,000 solar rooftop systems on households by 2026, has been strengthened by this partnership.

Due to higher sales, Servotech Renewable Power System revealed that its consolidated net profit for the December quarter increased significantly to around Rs 8 crore. In a regulatory filing, the firm reported a net profit of Rs 1.11 crore for the October-December quarter of the 2023-24 fiscal year. From Rs 52.20 crore in Q3FY24 to Rs 216.83 crore in Q3FY25, the company's total revenue more than quadrupled in only one year. Additionally, expenses increased to Rs 204 crore from Rs 50.34 crore during the same time period in the previous fiscal year.

The company's premium solar products and incredibly effective EV chargers are at the forefront of transforming the energy industry. One of the top producers of solar products and EV chargers is Servotech Power Systems Ltd. An NSE-listed company named Servotech Renewable Power System Limited is working to change the EV charging market by creating extremely fast DC chargers and home AC chargers.