Servotech Renewable Power System Ltd.

•

servotech.inBSE: -NSE: SERVOTECH

Market Cap₹ 1,812 Cr.

Current Price

High / Low₹ 143 / 58

Stock P/E45.5

Book Value₹ 12

Price to Book14.65

Dividend Yield0.02 %

ROCE21.2 %

ROE24.0 %

Face Value₹ 1

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ABOUT

AI Sector View

AI GENERATED

Capital Goods

Buy

Capital goods is supported by strong public capex and still-expansionary industrial activity. Capital expenditure rose 66% YoY (2026-06), GST collections grew 8% YoY (2026-07), and the core industries Overall Index increased 5.4% YoY (2026-07). E-way bills slowed to 6% YoY (2026-07) and sector FPI flows show INR -9697 crore net outflow over 3 months to 2026-08-31, but the investment cycle and fiscal impulse remain favorable.

Confidence

72%

View full sector analysis →

PROS

Company has delivered good sales growth of 46.4% CAGR over last 5 years
Latest quarter profit grew 47.0% YoY, showing strong momentum
Operating margins have improved to 9.7% from 6.1%
Company comfortably covers its interest (6.9x coverage)
Attractively priced for its growth - PEG of 0.4
Company maintains a comfortable, low leverage position

CONS

Operating cash flow has been negative in recent years
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -1.43x)
Free cash flow has been persistently negative
Equity base is being diluted - shares outstanding up 20.4%
Stock is trading at 14.7x its book value

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Capital GoodsCapital GoodsElectric Equipment

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	ABB	7431.00	52.70	157469.11	0.53	3623.00	930.02	35588.70	1110.31	30.18	12.56
2.	SIEMENS	4030.00	43.82	143516.56	0.45	214.31	-49.38	4713.70	8.44	21.42	9.14
3.	POWERINDIA	32030.05	124.10	142765.50	0.03	2941.50	2135.18	24936.90	1586.18	28.73	14.58
4.	CGPOWER	891.00	112.29	140372.60	0.15	308.28	15.52	3280.81	13.99	27.94	12.11
5.	ENRIN	3153.30	75.47	112295.48	0.13	440.90	67.83	2485.60	39.28	40.19	23.56
6.	GVT&D	4355.00	597.13	111508.27	0.23	362.99	24.65	1836.14	38.04	75.51	25.10
7.	HAVELLS	1200.00	46.11	75307.40	0.83	289.71	-16.64	6518.19	19.48	25.74	7.15
8.	WAAREEENER	2580.00	19.45	74214.04	0.15	891.87	15.39	7931.79	79.22	37.92	18.15
9.	APARINDS	17701.75	62.73	74121.36	0.34	4674.50	1677.98	65910.60	1191.31	31.84	11.50
10.	SUZLON	46.00	20.11	63229.93	0.00	305.22	-5.89	3829.09	22.83	35.79	15.55
11.	SCHNEIDER	1189.90	154.83	28450.99	0.00	12.44	-69.84	651.36	4.78	31.01	5.23
12.	SERVOTECH	80.25	48.38	1812.41	0.02	8.05	76.99	215.79	57.81	20.17	9.52

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	68	67	50	121	98	182	181	126	123	102	202	210	208
	61	62	47	115	89	163	165	113	111	93	175	188	193
Operating Profit	7	5	3	5	8	19	16	13	13	9	26	22	14
OPM %	9.86%	7.67%	6.02%	4.44%	8.67%	10.37%	9.07%	10.32%	10.16%	8.64%	13.03%	10.32%	6.92%
	0	1	0	0	0	0	1	1	2	1	1	2	1
Interest	1	1	1	1	1	2	2	1	2	3	3	4	4
Depreciation	1	1	1	1	1	1	2	2	2	4	4	4	4
Profit before Tax	5	4	2	4	6	15	13	11	10	3	19	15	15
Tax %	25.23%	25.19%	40.44%	25.81%	24.72%	26.01%	27.43%	25.31%	24.80%	26.77%	23.90%	21.28%	25.39%
Net Profit	4	3	1	3	5	11	10	8	8	2	15	12	11
	0.19	0.14	0.05	0.15	0.21	0.51	0.43	0.35	0.34	0.10	0.65	0.52	0.49

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	51	81	114	89	87	87	134	249	306	587	721
	47	73	106	82	83	82	125	231	285	530	650
Operating Profit	5	8	7	7	4	5	9	18	20	57	71
OPM %	9.07%	10.20%	6.58%	7.87%	4.99%	5.56%	6.41%	7.15%	6.62%	9.68%	9.86%
	0	2	1	1	0	1	1	0	2	2	4
Interest	3	2	2	2	3	3	2	2	3	8	14
Depreciation	1	1	1	1	1	1	2	2	3	6	16
Profit before Tax	2	8	6	4	1	1	5	14	16	45	52
Tax %	36.81%	33.78%	28.34%	28.06%	28.76%	20.17%	27.64%	23.16%	27.07%	26.10%	23.75%
Net Profit	1	5	4	3	1	1	4	11	11	33	40
EPS	0.00	0.00	0.00	0.00	0.44	0.51	0.37	0.53	0.52	1.49	—
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	10.19%	44.25%	47.87%	3.36%	—

COMPOUNDED SALES GROWTH

10 Years:: 34%
5 Years:: 46%
3 Years:: 64%

COMPOUNDED PROFIT GROWTH

10 Years:: 45%
5 Years:: 110%
3 Years:: 109%

STOCK PRICE CAGR

10 Years:: —
5 Years:: 99%
3 Years:: -1%
1 Year:: -36%

RETURN ON EQUITY

10 Years:: 16%
5 Years:: 13%
3 Years:: 18%
Last Year:: 24%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	3	3	18	18	18	18	19	21	22	22
	6	11	15	18	19	21	27	59	70	175
	19	21	17	13	19	36	22	42	81	73
Trade Payables	13	17	24	17	17	11	10	16	29	46
	4	9	10	9	6	12	9	14	57	67
Total Liabilities	44	60	84	76	79	98	87	153	258	384
	7	7	9	8	8	9	10	19	29	65
Capital Work in Progress	0	0	0	0	0	0	0	0	14	3
	0	0	0	0	0	2	0	0	1	2
	13	12	14	12	9	15	12	15	34	62
	0	0	0	0	0	0	0	0	81	141
Cash & Bank	2	4	6	3	3	3	8	15	60	32
	23	37	56	53	59	69	57	105	38	81
Total Assets	44	60	84	76	79	98	87	153	258	384

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	3	12	-4	2	3	1	15	-23	-1	-51
Cash from Investing	-3	-7	-4	-0	-2	0	-8	-11	-24	-16
Cash from Financing	1	0	12	-4	-1	-1	-1	45	70	39
	-0	2	2	-3	0	0	4	7	45	-28

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
PER SHARE
EPS (₹)	4.58	19.54	2.16	1.64	0.44	0.50	1.96	0.99	0.52	1.49
Book Value (₹)	31.74	52.22	18.03	19.67	20.12	21.54	24.58	7.55	4.21	8.36
Dividend per Share (₹)	0.00	0.00	0.00	0.00	0.00	0.00	0.20	0.44	0.25	0.05
Cash EPS (₹)	0.14	0.46	0.26	0.22	0.09	0.13	0.28	0.60	0.66	1.74
PROFITABILITY
Operating Margin %	9.78%	13.21%	7.02%	7.59%	5.16%	6.04%	6.11%	7.32%	6.62%	9.68%
Net Margin %	2.27%	6.12%	3.25%	3.05%	0.86%	0.97%	2.45%	4.24%	3.71%	5.70%
ROE %	16.96%	46.54%	17.03%	8.70%	2.23%	2.41%	8.59%	16.77%	13.21%	23.99%
ROCE %	17.21%	31.38%	18.27%	12.95%	7.31%	6.74%	11.60%	17.12%	11.28%	21.23%
	3.07%	9.60%	5.47%	3.76%	1.05%	1.03%	3.96%	8.81%	5.51%	10.42%
EFFICIENCY
Debtor Days	126	102	107	155	160	161	83	78	95	69
Inventory Days	74	56	39	47	40	47	34	20	29	30
Payable Days	113	93	83	112	90	69	32	23	33	29
	87	65	63	90	110	138	84	74	91	69
FINANCIAL HEALTH
Debt to Equity (x)	2.53x	1.57x	0.51x	0.43x	0.51x	0.64x	0.42x	0.53x	0.89x	0.40x
Interest Coverage (x)	1.73x	4.25x	3.53x	2.75x	1.41x	1.40x	3.07x	6.78x	5.78x	6.88x
	1.28x	1.27x	1.70x	1.97x	1.74x	1.79x	1.78x	1.79x	1.78x	2.16x
GROWTH
Revenue Growth %	61.77%	57.78%	40.35%	-22.11%	-1.20%	-0.51%	53.69%	86.35%	22.70%	92.12%
Operating Profit Growth %	33.26%	113.65%	-21.03%	-12.42%	-34.56%	17.49%	58.91%	99.59%	19.40%	169.41%
Net Profit Growth %	44.32%	326.90%	-21.07%	-23.91%	-72.92%	12.84%	298.95%	188.56%	7.14%	195.48%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-47.48%	185.29%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	148.60x	82.20x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	18.44x	14.65x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.32%	0.04%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	78.30x	47.66x

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	59.70	59.34	59.19	58.97	58.65	58.65	58.61	58.61	58.61
	5.52	5.95	2.77	2.89	3.00	1.78	0.73	0.14	0.05
DIIs	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	34.77	34.71	38.04	38.14	38.35	39.56	40.66	41.25	41.34

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-03

Copy of Newspaper Publication

2026-09-03 - Servotech Renewable Power System Limited has informed the Exchange about Copy of Newspaper Publication

2026-09-02

Shareholders meeting

2026-09-02 - Servotech Renewable Power System Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 25, 2026

2026-08-31

Copy of Newspaper Publication

2026-08-31 - Servotech Renewable Power System Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-27

Record Date

2026-08-27 - Servotech Renewable Power System Limited has informed the Exchange that Record date for the purpose of Dividend is 18-Sep-2026.

2026-08-27

Appointment

2026-08-27 - Servotech Renewable Power System Limited has informed the Exchange regarding Re-Appointment of Mr. Raman Bhatia as Managing Director of the company w.e.f. June 01, 2027,subject to shareholders approval.

2026-08-27

Outcome of Board Meeting

2026-08-27 - Servotech Renewable Power System Limited has informed the Exchange regarding Outcome of Board Meeting held on August 27, 2026.

2026-08-21

Resignation

2026-08-21 - Servotech Renewable Power System Limited has informed the Exchange regarding Resignation of Mr Abhishek Khandelwal as Internal Auditor of the company w.e.f. August 21, 2026.

2026-07-28

Analysts/Institutional Investor Meet/Con. Call Updates

2026-07-28 - Servotech Renewable Power System Limited has informed the Exchange about Transcript

2026-07-23

Frauds/Default by employees

2026-07-23 - Servotech Renewable Power System Limited has informed the Exchange about Frauds/Default by employees

News

Recent coverage and analyst commentary for SERVOTECH

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Servotech Renewable Power System Ltd.

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Free 5nance Account

Name

ABB

7431.00

52.70

157469.11

0.53

3623.00

930.02

35588.70

1110.31

30.18

12.56

SIEMENS

4030.00

43.82

143516.56

0.45

214.31

-49.38

4713.70

8.44

21.42

9.14

POWERINDIA

32030.05

124.10

142765.50

0.03

2941.50

2135.18

24936.90

1586.18

28.73

14.58

CGPOWER

891.00

112.29

140372.60

0.15

308.28

15.52

3280.81

13.99

27.94

12.11

ENRIN

3153.30

75.47

112295.48

0.13

440.90

67.83

2485.60

39.28

40.19

23.56

GVT&D

4355.00

597.13

111508.27

0.23

362.99

24.65

1836.14

38.04

75.51

25.10

HAVELLS

1200.00

46.11

75307.40

0.83

289.71

-16.64

6518.19

19.48

25.74

7.15

WAAREEENER

2580.00

19.45

74214.04

0.15

891.87

15.39

7931.79

79.22

37.92

18.15

APARINDS

17701.75

62.73

74121.36

0.34

4674.50

1677.98

65910.60

1191.31

31.84

11.50

SUZLON

46.00

20.11

63229.93

0.00

305.22

-5.89

3829.09

22.83

35.79

15.55

SCHNEIDER

1189.90

154.83

28450.99

0.00

12.44

-69.84

651.36

4.78

31.01

5.23

SERVOTECH

80.25

48.38

1812.41

0.02

8.05

76.99

215.79

57.81

20.17

9.52

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

121

182

181

126

123

102

202

210

208

115

163

165

113

111

175

188

193

Operating Profit

OPM %

9.86%

7.67%

6.02%

4.44%

8.67%

10.37%

9.07%

10.32%

10.16%

8.64%

13.03%

10.32%

6.92%

Interest

Depreciation

Profit before Tax

Tax %

25.23%

25.19%

40.44%

25.81%

24.72%

26.01%

27.43%

25.31%

24.80%

26.77%

23.90%

21.28%

25.39%

Net Profit

0.19

0.14

0.05

0.15

0.21

0.51

0.43

0.35

0.34

0.10

0.65

0.52

0.49

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

TTM

114

134

249

306

587

721

106

125

231

285

530

650

Operating Profit

OPM %

9.07%

10.20%

6.58%

7.87%

4.99%

5.56%

6.41%

7.15%

6.62%

9.68%

9.86%

Interest

Depreciation

Profit before Tax

Tax %

36.81%

33.78%

28.34%

28.06%

28.76%

20.17%

27.64%

23.16%

27.07%

26.10%

23.75%

Net Profit

EPS

0.00

0.44

0.51

0.37

0.53

0.52

1.49

—

Dividend Payout %

0.00%

10.19%

44.25%

47.87%

3.36%

—

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Equity Capital

175

Trade Payables

Total Liabilities

153

258

384

Capital Work in Progress

141

Cash & Bank

105

Total Assets

153

258

384

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

-4

-23

-1

-51

Cash from Investing

-3

-7

-4

-0

-2

-8

-11

-24

-16

Cash from Financing

-4

-1

-0

-3

-28

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

PER SHARE

EPS (₹)

4.58

19.54

2.16

1.64

0.44

0.50

1.96

0.99

0.52

1.49

Book Value (₹)

31.74

52.22

18.03

19.67

20.12

21.54

24.58

7.55

4.21

8.36

Dividend per Share (₹)

0.00

0.20

0.44

0.25

0.05

Cash EPS (₹)

0.14

0.46

0.26

0.22

0.09

0.13

0.28

0.60

0.66

1.74

PROFITABILITY

Operating Margin %

9.78%

13.21%

7.02%

7.59%

5.16%

6.04%

6.11%

7.32%

6.62%

9.68%

Net Margin %

2.27%

6.12%

3.25%

3.05%

0.86%

0.97%

2.45%

4.24%

3.71%

5.70%

ROE %

16.96%

46.54%

17.03%

8.70%

2.23%

2.41%

8.59%

16.77%

13.21%

23.99%

ROCE %

17.21%

31.38%

18.27%

12.95%

7.31%

6.74%

11.60%

17.12%

11.28%

21.23%

3.07%

9.60%

5.47%

3.76%

1.05%

1.03%

3.96%

8.81%

5.51%

10.42%

EFFICIENCY

Debtor Days

126

102

107

155

160

161

Inventory Days

Payable Days

113

112

110

138

FINANCIAL HEALTH

Debt to Equity (x)

2.53x

1.57x

0.51x

0.43x

0.51x

0.64x

0.42x

0.53x

0.89x

0.40x

Interest Coverage (x)

1.73x

4.25x

3.53x

2.75x

1.41x

1.40x

3.07x

6.78x

5.78x

6.88x

1.28x

1.27x

1.70x

1.97x

1.74x

1.79x

1.78x

1.79x

1.78x

2.16x

GROWTH

Revenue Growth %

61.77%

57.78%

40.35%

-22.11%

-1.20%

-0.51%

53.69%

86.35%

22.70%

92.12%

Operating Profit Growth %

33.26%

113.65%

-21.03%

-12.42%

-34.56%

17.49%

58.91%

99.59%

19.40%

169.41%

Net Profit Growth %

44.32%

326.90%

-21.07%

-23.91%

-72.92%

12.84%

298.95%

188.56%

7.14%

195.48%

0.00%

-47.48%

185.29%

VALUATION

P/E (x)

0.00x

148.60x

82.20x

P/B (x)

0.00x

18.44x

14.65x

Dividend Yield %

0.00%

0.32%

0.04%

0.00x

78.30x

47.66x

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

59.70

59.34

59.19

58.97

58.65

58.61

5.52

5.95

2.77

2.89

3.00

1.78

0.73

0.14

0.05

DIIs

0.00

Government

0.00

34.77

34.71

38.04

38.14

38.35

39.56

40.66

41.25

41.34

Servotech Renewable Power System Ltd.

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Quarterly Results

Profit & Loss

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Servotech Renewable Power System Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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