Shares of Servotech Renewable Power Systems Ltd. (NSE: SERVOTECH) rose nearly 7% in intra-day trade on Wednesday after the company announced securing a ₹28.84 crore rooftop solar order from the North Western Railway, Jaipur Division. The contract strengthens the company’s renewable energy portfolio and reinforces its position in the fast-growing public sector projects space.
Servotech Renewable Power Systems Ltd., headquartered in New Delhi, operates in the renewable energy and power electronics sector, offering solutions in solar energy, EV charging infrastructure, and smart power systems. The company has steadily expanded its reach, focusing on government-linked projects and large-scale solar installations.
On August 20, Servotech confirmed it had bagged a 7.3 MW on-grid rooftop solar project from the North Western Railway, Jaipur Division, worth ₹28.84 crore. The end-to-end scope of work includes design, manufacturing, supply, installation, testing, and commissioning of rooftop solar photovoltaic systems across multiple sites in the division.
The project aligns with Indian Railways’ long-term sustainability roadmap, which aims to scale down reliance on conventional energy and integrate renewable resources into operations. For Servotech, the order represents another step in its mission to drive India’s clean energy transition.
Stock Market Performance
Following the announcement, Servotech shares surged as much as 6.7% to ₹133 on the NSE, before stabilizing in late trade. Despite Wednesday’s rally, the stock remains under pressure, having declined around 20% year-to-date in 2025. The stock fell 7% in July and another 5% in August prior to the latest rebound.
Analysts tracking the stock note that contract wins of this scale could help restore investor confidence, especially as Servotech looks to secure a larger share of India’s public sector clean energy projects.
Financial Snapshot
Servotech has reported consistent growth in recent years, supported by government-linked projects and rising demand for renewable solutions.
- Revenue (FY24): ₹318 crore
- Net Profit (FY24): ₹19 crore
- Order Book (as of Q1 FY25): Over ₹500 crore, with a significant pipeline in rooftop solar and EV charging infrastructure.
The company maintains a healthy balance sheet and continues to expand its manufacturing capacity to meet rising demand in both solar and electric mobility infrastructure.
Strategic Importance
This order underscores Servotech’s competitive strength in public sector projects, where execution capabilities, cost efficiency, and technical expertise play a crucial role. By securing large renewable energy projects from entities like Indian Railways, the company strengthens its reputation as a reliable execution partner.
Looking ahead, the company expects demand in the solar rooftop and EV charging segments to accelerate, supported by government policies and India’s renewable energy targets.
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