Servotech Power Systems Limited (NSE: SERVOTECH) Q1 2026 Earnings Call dated Aug. 01, 2025
Corporate Participants:
Unidentified Speaker
Amit Patel
Raman Bhatia — Founder & Managing Director
Vipin Kaushik
Ankit Arora
Prabhutva Tiwari
Analysts:
Unidentified Participant
Himanshu Mahto — Analyst
Shruti — Analyst
Neha — Analyst
Tushar — Analyst
Nicholas Rothman — Analyst
Ashim Shah — Analyst
Vibhor Jain — Analyst
Jitesh Sharma — Analyst
Rakesh Kumar Yadav — Analyst
Chirag Shah — Analyst
Presentation:
operator
Ladies and Gentlemen, good day and welcome to the Servotech Renewable Power Systems Limited Q1 FY26 earnings conference call hosted by Ventura. Ladies and gentlemen, good day and welcome to the Servotech Renewable Power Systems Limited Q1FY26 earnings conference call hosted by Ventura Securities Limited. As a reminder, all participant lines will be in the lesson on Demode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need any assistance during the conference call, please signal an operator by pressing STAR and then zero on your touchtone telephone. Please note this conference is being recorded.
Before we begin, I would like to point out that this conference call may contain forward looking statements about the company which are based on the beliefs, opinions and expectations of the company as on date of this call. These statements do not guarantee the future performance of the company and it may involve risks and uncertainties that are difficult to predict. I would now like to hand out the conference to Mr. Amit Patel from Ventura Securities. Thank you. And over to you sir.
Amit Patel
Thank you. Good day. Ladies and gentlemen, on behalf of Ventura Securities, I welcome you all to the Servotech Renewable Power System Limited Q1FY26 earnings conference call. The company is today represented by Mr. Raman Bhatia, Founder and Managing Director and Mr. Vipin Kaushik, Finance Controller. I would now like to hand over the call to Mr. Raman Bhatia for his opening remarks. Thank you. And over to you sir.
Raman Bhatia — Founder & Managing Director
Thank you. Good evening everyone and a very warm welcome. I am delighted to have you join us today as we discuss Servotech Renewable Power Systems Limited performance for Q1FY25 26. Our journey at the beginning of the financial year has been both exciting and encouraging. We have recorded robust growth underpinned by our efforts to strengthen India’s EV charging infrastructure and solar products. These result in reinforcement our position as a frontrunner in the green energy transition and reflects the growing trust in our vision and capabilities as we look to the future. We aim to deepen our impact by ramping up domestic manufacturing, scaling our innovation and taking our made in India solution to international market.
With feature ready products and strategic expansion plans. We are committed to empowering cities, industries and individuals driving sustained progress while shape the cleaner, smarter and more connected energy ecosystem worldwide. I am pleased to share that financial Highlight for the first quarter of the financial year 2026. Our team is dedicated to innovation, sustainable growth strategies and effective execution of our order book has delivered excellent results demonstrating the strength of servotech’s strategic approach. Looking at Our standalone performance for the quarter. We have seen remarkable growth in our revenue compared to the last financial year Q1 performance. Our total revenue surged by 28% reaching 125.13 crore compared to 97.75 crore in the last previous year.
This strong performance translated directly to our profits. Our EBITDA witnessed a significant jump which is around 63.65% climbing to 114.23 crore from 8.69 crore. Finally, our profit after tax also showed robust growth of 59% reaching 7.55 crore up from 4.74 crore reflecting enhanced operational efficiencies. Now, focusing on the first quarter FY26 on a consolidated basis, we continue to build on on our momentum. Our total Revenue grew by 22% to 137.16 crore from 112.43 crore in Q1FY25. Our EBITDA saw a significant better rise of 26.87 growth 87% increasing 10.38 crore from 8.53 growth in the corresponding quarter last year.
Our PAT for the quarter also demonstrated a growth of 1.36% to 4.55 crore from 4.448 crore in the same period last year. Overall, these figures demonstrate a strong financial performance for the quarter highlighting our growth momentum and improved profitability. We are excited about the future and remain committed to delivering sustainable value for our stakeholders. I also wish to add that Mr. Aron, who is a father of Elon Musk, is also coming on board as a global advisor. And we are also hoping that you will start so many things interestingly. Thank you.
Questions and Answers:
operator
Thank you, sir. Ladies and gentlemen, we will now begin the question and answer session. If you have a question, please press Star and one on a telephone keypad and wait for your turn to ask the question. If you would like to withdraw your request, you may do so by pressing Star and one again. Dear participants, if you have any questions, please press Star and one on a telephone keypad. The first question comes from Himanshu Mahto, an individual investor. Please go ahead. Mr. Himanshu, please go ahead with your questions. Sir.
Himanshu Mahto
Hello. Yeah, hello. And hello everyone. As she had the same question about AWS that you just mentioned. They have joined you as a global advisory member this year. So technology and infrastructure. Are you planning to tap into the global market or so we don’t think right now we technology. But yes, two things which is beyond this that we cannot disclose at at the moment. Okay, sir. Okay. That was all from me. Thank you. Thank you.
operator
Thank you. Sir, the next question comes from Shruti Dipati from SME India fund. Please go ahead.
Shruti
Hi sir, my question is. Right now the government is pushing towards for the rooftop installation. How is turbotech is planning to scale in EPC business.
Raman Bhatia
[Foreign Speech]Investment so that solar panel manufacturing backward integration and we are happy or.
Shruti
Okay, sir, my another question is. You are working on 60 megawatt rooftop. Solar order for MP government. So what is the progress and revenue visibility in that project? Project?
Raman Bhatia
[Foreign Speech]
Shruti
Sir, I. You’re working for the 16 solar order for NP government from MP government, right? Yes. What is the execution and revenue visibility when we can see that it’s. Go ahead. And what is the update on that?
Raman Bhatia
We are thinking second quarter last month, May or third quarter.[Foreign Speech]
Shruti
Okay. Thank you so much, sir. And congratulations for the great numbers for the first quarter.
Raman Bhatia
Thank you.
Shruti
That’s also my point.
operator
Thank you, ma’. Am. Dear participants, if you have any questions please press star and one on a telephone keypad. Next question comes from Neha Malhotra from an individual investor. Please. Please go ahead.
Neha
Hello sir. Good afternoon. So my question is. [Foreign Speech]
Raman Bhatia
But fortunately unfortunately[Foreign Speech] last time infrastructure challenges slow aga. We are working on that. Okay. Okay.
Neha
And you have acquired RhinoSolar like 27 stake up.[Foreign Speech] Exactly.
Raman Bhatia
[Foreign Speech]Margins to improve and simultaneously DCR component pressure so that we also complement that.
Neha
Thank you so much sir. And congratulations for your great result. Thank you. Thank you, sir.
operator
Thank you ma’. Am. Next question comes from Tushar Gupta from SM Equity. Please go ahead.
Tushar
Hi sir. The revenue and Profitability Highlights from Servotech delivered us I think 21.9% year on year revenue growth. Right. So which were the verticals which led this performance? It was it EV charger, Solar, EPC or power electronics. Which which verticals EV charges? Solar, EPC or power electronics led this revenue growth year on year of 22% approximately
Raman Bhatia
for energy flows.
Tushar
Okay. And. And how. How are you looking at this new quarter? Quarter quarter two in comparison to.
Raman Bhatia
[Foreign Speech]We will try our best.
Tushar
Okay. And I also saw gross profit increasing year on year. What were the internal initiatives that helped improve this profitability apart from acquiring or investing stake in Rhine solar
Raman Bhatia
[Foreign Speech]margins? Okay.
Tushar
Right now we can see the government. Is pushing a lot on battery energy storage systems. What is server tech stake take on battery energy?
Raman Bhatia
We have already started this a long time back.[Foreign Speech]
Tushar
Okay. And we have seen consistent revenue performance quarter on quarter even with the seasonality impacts. Does this indicate greater predictability on a business mix?
Raman Bhatia
[Foreign Speech]
Tushar
Sure. We have seen consistent growth in the business numbers, financial numbers. Year on year, quarter on quarter. Right. So does this mean or indicate predictability in your business mix that this kinds of revenue growth will be there year on year, quarter on quarter, profitability growing quarter on quarter? Is there any predictability that you can see on quarter on quarter or year on year in terms of business revenue coming from
Raman Bhatia
and simultaneously innovative products pay or innovative[Foreign Speech] services pay?
Tushar
Okay, understood. Thank you so much. Thank you.
operator
Thank you sir. Dear participants, if you have any questions, please press Star N1 on your telephone keypad. Dear participants, if you have any questions please press star and one on your telephone keypad. The next question comes from Nicolas Rothman from Napier Capital. Please go ahead.
Nicholas Rothman
Yeah, hi. Thanks for taking my question. So, just a couple for you. What I’d like to know is I want to understand what is your customer mix? Like what percentage of your sales are coming from the public sector versus the private sector.
Raman Bhatia
This is around the 60:40 mix. 60% from the tender projects or PSUs government, state, district, government. If we are talking that is a around 60%, 40% from the retail market, general distribution, e commerce, these all mix.
Nicholas Rothman
Okay, understood. Now what is your revenue mix by product type? Like I see you have a range of products.
So I’m just trying to understand. Last year EV last 2, 3 years EV side was around 60, 70% of the total revenue. This year it will be reversal, it will be pivot and solar will be around 60% or 70%. Okay, so you’re saying EV is was 60% and sooner was 30 to 40 and this year it’s reversed.
Raman Bhatia
Yeah, just because of. I told you already. There are some infra issues or so many things which government is trying to solve till time there are some slowdown. But we cannot stop or we cannot stay for that. That’s why we change our priorities and we are more focused on where we can get more business because we have to grow.
Nicholas Rothman
Now for example, I see here that you are initially manufacturing LED backup oxygen concentrators, UVC devices. Are you still okay? And sorry, one more question. I just was reading about this Errol Musk thing in the news, bringing him on board as an advisor. I’m just trying to understand how is Errol Musk going to contribute to the company’s success moving forward.
Raman Bhatia
That is very standard only so when we are having a in a surround these type of people. So the connects are very big and we are already working with them with so many governments of different countries, how to deploy chargers in those countries or how we can supply solar systems on in those countries for that we have already taken one step.
That is we are just coming with a new subsidiary in the UAE to cater Gulf countries, GCC and Africa countries. Okay. If pressure is in Indian market due to infra these things on EV charger then we can think about how to supply in other countries. So we are working on that now.
Nicholas Rothman
And you’ve made some progress on this
Raman Bhatia
already, sir. Already already.
Nicholas Rothman
And do you export anything today?
Raman Bhatia
Yeah, I think if you go through last two years balance sheet then you will find around 5% to 8% of our total revenue is from a sport.
Nicholas Rothman
Okay.
And. Okay, I understand. Okay. Okay, great. Thanks so much. I appreciate. Thank you. Thank the opportunity.
operator
Thank you, sir. Dear participants, if you have any questions please press Star and one on your telephone keypad. The next question comes from Ashim Shah, an individual investor. Please go ahead.
Ashim Shah
Hello. Yes. Yeah. So sir, if you look at the consolidated report is quarterly. So they have been quite less 1.36% since. And support exports has been doing well. I guess so. Is there a particular reason [Foreign Speech] up
Raman Bhatia
shareholding Sell out the sale to Java profit up there consolidation can the[Foreign Speech] Katani but independent individual they can gain standalone.
Ashim Shah
Yes, sir. But there have been more subsidiaries [Foreign Speech]the last one year. May I guess this. There has been in charge and then there is server exports. So how have they been performing terms of consolidated or
Raman Bhatia
these not are all our subsidies.
Technically these are FPVs. [Foreign Speech]So that independent or individual shareholders. Technically these are STVs.
Ashim Shah
Okay. Okay, sir. Thank you for that clarification. Yeah, that’s all from me.
operator
Thank you, sir. Dear participants, if you have any questions, please press Star End 1 on a telephone keypad. Dear participants, if you have any questions please press Star End 1 on a telephone keypad. The next question comes from Vibor Jain from SPRSLP. Please go ahead. Mr. Vibor Jain, please go ahead with your question, sir.
Vibhor Jain
Hello, sir. Yes. [Foreign Speech]
Raman Bhatia
When we get the volumes then we’ll try to get a benefit which are available with the GCC countries. Different. [Foreign Speech]Different subsidies and so many treaties GCC with other countries. [Foreign Speech]
Vibhor Jain
Thank you.
operator
Dear participants, if you have any questions please press Star and one on your telephone keypad. Dear participants, if you have any questions, please press Star N1 on your telephone keypad. The next question comes from Jitesh Sharma, an individual investor. Please go ahead.
Jitesh Sharma
Hi. Hello, sir. Jitesh Sharma. Isaiah. Congratulations, [Foreign Speech]sir. Okay, let me ask this question slightly differently. You can give me a percentage but I can’t give you [Foreign Speech]n first quarter
Raman Bhatia
if I’m right or stated capacity for DC chargers 12,000 units per per annum [Foreign Speech]due to government or everything India Bahagi market may consume the plan that is the plan that’s why we are coming with the UAE Company subsidies sir plan execut is that going to take like a year or a. Okay that okay sir so margin wise both EV and solar they are same or how it is like solar margins improve we are focusing on increasing the profits GP’s being improved profit improve Right now if I understand it right we’ll see more of a Koi profile change to company key management team pressure innovative Karikote so that business sir of course to ache ecosystem gender clocking or leader so that ham Koji Garay Co.
Profitability company revenue or Bhagwan Kibarikata Yogira okay sir media interaction, social media interactions or podcast indicate here many of cuper confidence Confidence is confidence or persistence commitment Hameri Manu like at end of the day Hamala Hamasha Kiham baseline Johamiya target Kibat Karthi Samari look at how many baseline last year so Yaniki internal Kam management Kawayama Salma company profits in Nikolai so that company lost me profitable NS even that is number one management expectation last year that means breakeven quarter May last year say basis jump Kahajata so yeah Hamisha or Jabja or Navy Oga to break even say Amisha or better okay and sir last question from my side if I see the last year especially okay the pattern is something like your Q2 and Q3 were the strongest.
Okay so do you expect to see the same this year? So do we see the same pattern this year? Arch pressure dono businesses Pesasa infraga component raw material key shortage that means orders in hand execution but it’s subkeb that is number one so if model end of the day okay sir, thank you very much. I’ll get back into the queue and all the best. Thank you. Thank you.
operator
Thank you sir. The next question comes from Rakesh Kumar Yadav, an individual investor. Please go ahead.
Rakesh Kumar Yadav
Yeah Mr. Bhatia, first of all I would like to congratulate you on the fantastic result of the Q2. So my question is recently [Foreign Speech]you have started working on the portable chargers for the EVs potential and what are your plans to go ahead in this industr
Raman Bhatia
y? So we are working on that[Foreign Speech]. We are working on that or
Rakesh Kumar Yadav
thank you sir. Thank you.
operator
Thank you sir. Dear participants, if you have any questions please press star and one on a telephone keypad. Next question comes from Chirag Shah individual investor Please go ahead.
Chirag Shah
Sir, what you just alluded to that onboard charger or whatever. I missed that word. Or the term. So what is it exactly? You said it will be fixed like very basically will be fitted onto the car before it actually leaves the factory.
Raman Bhatia
[Foreign Speech]
Chirag Shah
Thank you for the clarity. Yeah. Thank you. Thanks. Thank you.
operator
Dear participants, if you have any questions, please press star and one on a telephone keypad. Dear participants, if you have any questions, please press star. End. One on a telephone keypad. Dear participants, if you have any questions, please press star and one on your telephone keypad. There are no further questions. Now I hand over the floor to Mr. Raman Bhatia for closing comments.
Raman Bhatia
Yeah. I am very thankful to all of you for joining us and asking your question. We are now closing this call. Once again, a big thanks to all of you. Thank you.
operator
Thank you, sir. Ladies and gentlemen, this concludes your conference for today. Thank you for your participation and for using Door Sabha’s conference call service. You may disconnect your lines now. Thank you and have a pleasant evening.