Servotech Renewable Power System Ltd (NSE: SERVOTECH) Q3 2026 Earnings Call dated Feb. 03, 2026
Corporate Participants:
Raman Bhatia — Founder & Managing Director
Analysts:
Prashant Omkar — Analyst
Sadagoppan Ramesh — Analyst
Abhishek Kumar — Analyst
Deepika Sharma — Analyst
Mahesh Vaze — Analyst
Gaurav Singh — Analyst
Ansh Wadhwa — Analyst
Jitesh Parmar — Analyst
Meet Mehta — Analyst
Presentation:
operator
Ladies and gentlemen, good day and welcome to the Q3FY26 investor earnings conference call for Servotech Renewable Power System Limited. As a reminder, all participant lines will be in the listen only mode and there will be an opportunity for you to ask questions once the presentation concludes. Should you need assistance during this conference call, please signal an operator by pressing Star then zero on your touchstone phone. Please note that this conference is being recorded. I would now like to hand the conference over to Mr. Raman Bhatia, the Managing Director of Servotech Renewable. Thank you. And over to you, sir.
Raman Bhatia — Founder & Managing Director
Thank you. Good afternoon everyone and thank you for joining the call. Q3FY26 marks a clear sequential recovery for Servotech following the disruption and policy related execution challenges we faced in Q2 over the last quarter. Our focus has been on restoring execution discipline, strengthening manufacturing efficiency and tightening cost control. These actions are reflected in our Q3 performance where we saw a strong rebound in revenue and profitability on a quarter on quarter basis. Importantly, this improvement has come from the operational execution rather than one off item. On a standalone basis, revenue increased to 202 crore. EBITDA improved to 27 crore and PAT stood at 14.7 crore in Q3FY26.
On a consolidated basis, revenue was 212 crore, EBITDA was 28.5 crore and PET stood at 15.5 crore for the quarter. The margin improvement reflects better cost discipline, improved product mix and more efficient utilization of our manufacturing and operational resources. While Q3 represents a meaningful recovery, our focus remains on consistency and predictability, not short term escalation. We continue to prioritize disciplined execution, operational efficiency and margin led growth as we move into Q4. With that, I will hand it over for questions. Thank you.
Questions and Answers:
operator
Thank you. We will now begin with the question and answer session. Anyone who wishes to ask a question may press Star and one on their touchstone telephone. If you wish to remove yourself from the question queue, you may press Star and two participants are requested to use handsets while asking a question. Ladies and gentlemen, we will wait for a moment while the question queue assembles. Our first question comes from the line of Prashant Omkar, an individual investor. Please go ahead.
Prashant Omkar
Hello.
Raman Bhatia
Hello. (foreign language)
Prashant Omkar
(foreign language)
Raman Bhatia
Thank you.
Prashant Omkar
(foreign language)
Raman Bhatia
(foreign language)
Prashant Omkar
Thank you, sir. (foreign language)
Raman Bhatia
(foreign language)
Prashant Omkar
(foreign language) Thank you, sir. (foreign language)
Raman Bhatia
Thank you.
operator
Thank you. The next question comes from the line of Sadhak Open. Ramesh, an individual investor. Please go ahead. Mr. Ramesh, please go ahead. Kindly unmute Your line? Yes, please.
Sadagoppan Ramesh
Hello.
Raman Bhatia
Hello.
Sadagoppan Ramesh
Yeah, can I. Can you. Can you hear me?
Raman Bhatia
Yes, sir.
Sadagoppan Ramesh
Yeah. So in terms of your plans for this lithium battery and the solar business. Can you give us some sense in terms of what is the capacity of this lithium battery business? And how do you see the growth in that business over the next one or two years?
Raman Bhatia
Lithium battery business independently as a lithium battery manufacturer. Captive consumption. (foreign language) Number one. So it will become complement by default. Understand. So number two batteries. Batteries battery per month for next one year. Right.
So that means 60,000 additional battery back. We are planning already impact business may could be more than 100 crore.
Sadagoppan Ramesh
Okay, so this is for the auto rickshaws three wheelers.
Raman Bhatia
Yes, yes, yes. Correct. Correct, correct.
Sadagoppan Ramesh
Okay. Okay. (foreign language)
Raman Bhatia
But energy storage already. Already battery pack or captive consumption in house start. (foreign language)
Sadagoppan Ramesh
So when you battery energy storage system or solar what is the final output you are delivering to the market? Is it the solar panels with battery energy storage? And what is the kind of capacity range in megawatt hours or kilowatt hours you are operating in.
Raman Bhatia
In term of megawatt. (foreign language)
Per month as on D.
Sadagoppan Ramesh
That is solar modules or solar panels.
Raman Bhatia
(foreign language)
Sadagoppan Ramesh
Okay, so basically that goes into the solar power projects. Okay. And this. So you are offering. Yeah. A solar panel or solar modules.
Raman Bhatia
(foreign language) Solar modules or battery energy storage? Rooftop or. Energy storage.
Sadagoppan Ramesh
Okay. Competition. And what is the kind of growth you can expect in the next 12 years?
Raman Bhatia
Sir, competition. Competition. Manufacturing capacity cost or plus inverters per month. Hair. (foreign language)
Sadagoppan Ramesh
Okay. So wish you all the best. I’ll come back in the queue. Thank you.
Raman Bhatia
Thank you sir.
operator
Thank you. A reminder to all participants. You may press star and one to ask a question. Our next question comes from the line of Abhishek Kumar, an individual investor. Please go ahead.
Abhishek Kumar
Hi, good afternoon sir. And congratulations for your quarter. And sir, my question is as server tech is expanding strongly in renewable and EV charging. What are the top two financial metrics investors to track the judge where this growth the healthy and sustainable over the next few years. (foreign language)
Raman Bhatia
Joby stable. (foreign language) So it’s my plus minus. It will be in control system. But yes. Investor point of view. In growth or in revenue. So like I already said in last call. Also grid tight inverters, Hybrid inverters, production capacity or backward integration battery energy storage. That means remote monitoring system.
Joe government new notification in December 2025. We are working on that. So what data loggers or remote monitoring server or mobile app. That means future forecast visualize.
Abhishek Kumar
Thank you.
Raman Bhatia
Thank you.
operator
Thank you. A reminder to all participants. You may press star and one to ask a question. The next question comes from the line of Deepika Sharma, an individual investor. Please go ahead.
Deepika Sharma
Hello sir.
Raman Bhatia
Hello.
Deepika Sharma
Sir, congratulations on your Q3 results.
Raman Bhatia
Thank you.
Deepika Sharma
And I just want to know that encouraging results. I just Want to know Q3. Momento. Continue. (foreign language)
Raman Bhatia
(foreign language) Record record high. Tony. 27. 26. 27. But yay. So it will be better than last year quarter.
Deepika Sharma
Okay, one more question. I have. (foreign language)
Raman Bhatia
(foreign language) Subsidiary establishment. That is a plan. Just may uae market ogi and gcc market hogi. All countries. Plus Bossari countries. So that is the plan.
Deepika Sharma
Okay. Okay. Okay, sir. Thank you so much.
Raman Bhatia
Thank you.
operator
The next question comes from the line of Mahesh Vazi, an individual investor. Please go ahead.
Mahesh Vaze
Yeah. First of all congratulations on great results. (foreign language) We have been quite successful in the past.
Raman Bhatia
(foreign language) Charging infrastructure. It is a part of a whole ecosystem. If whole ecosystem. Charges installation of time lagnavalah. Because Hamdan. Employees. And we have totally focused on solar as on date and with the new innovative plans. But number two still we are looking very very seriously. Power.
Mahesh Vaze
Okay, thank you and all.
Raman Bhatia
Thank you.
operator
Thank you. A reminder to all participants. You may press time one to ask a question. The next question comes from the line of Gaurav Singh, an individual investor. Please go ahead.
Gaurav Singh
Hi. Good afternoon sir.
Raman Bhatia
Good afternoon.
Gaurav Singh
First of all congratulations on such great results. My question was around Mahesh questions only that we aka (foreign language) EV and particularly solar. Last Q2 May there were almost no updates on EV after I tender. But there were many updates from the solar tenders and the order book that you had. But his particular quarter May I was going through your IP and all. So there are almost no projects for EV and for solar. So is there a particular reason for that? What is the plan for that? Government is pushing on SOL and even E drive.
And there has been pull over the utilizing this particular budget too. What is your plan about that?
Raman Bhatia
We are very serious in a channel distribution network for house. Right now we have more than 4,000 retailers in India. And we are targeting how to take it up to 10000 retailers in India. We are making every day more than two to three distributors per day. And even more than that. That. Ecosystem. Company directly or indirectly revenue generated. We are working that. Also TRC and strong after service network create. And number three Joe Solar PV modules. Last year revenues it was just 80 growth.
Currently they are going to reach around 160 growth after our investment. And this coming year we are planning they should reach up to 500 crore so panel server tech convention would be more than 70 80. Product or certification. (foreign language)
Gaurav Singh
And since you talked about the export and baggy (foreign language) Joe export and countries I also read about the average you are going to start or you have already started. So what is that going to work on?
Raman Bhatia
(foreign language) Like lithium battery like export. So that is the plan.
Gaurav Singh
Since you’ve been talking about lithium batteries. Lithium batteries. (foreign language) S ince you’ve been working you launch the three wheeler battery and the chargers. (foreign language) So three wheeler. It’s a booming market. Okay okay. And by. By what?
Raman Bhatia
(foreign language)
Gaurav Singh
Okay sir. Yeah, that was all from the end. Thank you sir. And okay, thank you and yeah, a good look for the future and
Raman Bhatia
Thank you sir. Thank you.
operator
Thank you. A reminder to all participants please press star and one to ask a question. The next question comes from the line of Ansh Vadwa an individual investor. Please go ahead.
Ansh Wadhwa
Good afternoon sir. (foreign language) Long term vision care for the next five years.
Raman Bhatia
(foreign language) Produce green to live green. Product Banangay your global warming or global warming margin ham margin say is company or buddy infrastructure or unki personal life better Garangi so that war better feel Karangaraji Servo tech may Agarpu job decry atmosphere or environment. Corporate social responsibility. Incentivize we will give our returns. Strategic alliances Bossarini. Nahi Hamitra impact to change garbage but yes Kobe impact Ayagat. Profits but seriously manage easily manage.
Ansh Wadhwa
Okay sir thank you very much sir.
Raman Bhatia
Thank you.
operator
Thank you. The next question comes from the line of Jitesh Parmar an individual investor. Please go ahead.
Jitesh Parmar
Thank you sir. The battery charger segment or division A or solar Q3 or a nine year you know aggregate. (foreign language)
Raman Bhatia
(foreign language) Currently because. Through the policies and other things but transport logistics transport Scalia charger may revenue but major league contribution. Battery is a part of the solar because we are not a battery retailer or nine battery manufacturing company it is a captive consumption Apanehi project Scalibanate right? Okay sir. Okay. Company kepa jobi capacity. Capacity. Flexibility. Electrical or electronic product. Achana charges. Immediately. Infrastructure availability that is number one. Interior decorator. Transformation here. Okay, thanks for that. So. Seriously Kam Kara or Mira Samanaki agar koi become Shaddasiyaj.
Or Germany Major partnership announced. Technology India. Best product.
Jitesh Parmar
Okay sir so my last question (foreign language) 5 to 25 okay to 2 lakhs especially to achieve 25 you know thousand battery capacity that is you know internal or already covered under existing. You know basically plant setup.
Raman Bhatia
(foreign language) Battery. Investment between 50 to 100. That would be all internal accrual.
Jitesh Parmar
Okay sir thank you very much sir. I’ll get back into the queue for my other question. Thank you.
Raman Bhatia
Thank you.
operator
Thank you. Participants you may press star and one to ask a question. Our next question comes from the line of Meet Mehta from Prasoon Exponential. Please go ahead.
Meet Mehta
Yeah. Am I audible? What exactly do you do in battery energy storage system? Like up assembly. (foreign language) Are you making manufacturing some products in that? And the second question is from is Kusum scheme. Are you expecting more execution in the industry compared to the last year? Okay, first. First question is from battery energy storage system.
Raman Bhatia
Thank you. Thank you sir. (foreign language) Battery energy storage may Jobi lithium battery. Right. That is purely important. EMS energy management system is a part of the server apps also. And there is a BMS and the container. Not a container battery racks that we are making in India and we are assembling it here and along with the PCs or the hybrid inverter.
So we all these things we are making in India. That means if we remove or eliminate battery cells then more than 7080 things we are doing here. And if we add lithium cells then around 40 50% we are doing here.
Meet Mehta
Okay. Understood. (foreign language)
Raman Bhatia
(foreign language) Or channel distribution network. Private sector. 3hp 5hp 7.5hp is water pump scalier charge controllers or complete water controller solar based. Okay. Last year execution say pickup. It is self explanatory.
Meet Mehta
Okay. Okay.
Raman Bhatia
I hope you understand.
Meet Mehta
Yes, yes. Yes. Thank you. Thank you so much.
operator
Thank you. A reminder to all participants. You may press star and one to ask a question. The next question comes from the line of Jitesh Parmar an individual investor. Please go ahead.
Jitesh Parmar
Hello sir. Thanks for again taking my question. (foreign language) Where do you see our strength? Is it like distribution network pricing? Where does server tech stands out. That is beyond our capital consumption that that we are trying to expand. Am I. Am I understanding it?
Raman Bhatia
(foreign language) Who segment major overall business K Under Uskabi Joe Participation 10 15% Profitability Explore Karnaki or revenue may share revenue may contribution. It is a good deal. As a good supplier as a good after service company. If player. Okay sir, so slightly different. I would like to understand. You know working capital affect K.
I mean how do you see these contracts and what is the typical duration in payment terms like standard formula India government contracts. Okay, that’s very honest answer. Thank you sir. Last question is. We are. You know we are in a phase where we are trying to become from 500 crore company to 2,500 crore company. Management capabilities. Correct. For example dust kilometer durjanah or. Correct already or. Both Seriously.
Jitesh Parmar
Okay sir thank you. Thank you. Thank you very much for the answer.
operator
Thank you participants, you may press star and one to ask a question. Participants please press star and one to ask a question. The next question comes from the line of Gaurav Singh and individual investor. Please go ahead.
Gaurav Singh
Hello sir. Thank you sir. Another question. (foreign language) I’ve been following a lot on LinkedIn and Instagram. I guess yesterday you posted you attended the Afro chance event tickets for the budget union budget. So you have mentioned key. You’re quite excited about the AI integration and the government social AI. So. And you also mentioned AI integrate in the organization itself. So is it inclusive that you see some potential in it in the business terms as well for future and for more revenues.
Raman Bhatia
(foreign language) Implementation agentic level or team for all departments or data scientists futuristic dashboards, predictions. Okay, so about the business and the organization.
But how is it going to help the business in the long term. Inclusively? You have integrated AI earlier on the way. So what is the long term vision? Artificial intelligence. So abhi sami lingi help karigas kam to hami. Artillery intelligence say Hamzira for manpower key Kabiliato improve Karbangay Lake in strategy thought visualization. Yes management or is a promoter say or unlock. Last question for you was the subaltech since being a renewable and green energy company, you’re going to need the green energy and market player for for the longest time that I remember. But Abi you have also acquired Hertz and Pixels.
You have also like launched a subsidiary for what exports and then the way maybe you have been venturing so power and solutions going to a new direction. And how is that being managed? Subsidiary. Core value or Nahi main company core value destroy companies. Subsidiary profit centers cash flows Allaga unko Kam Karnaki direction Denver Logalaga Lake in subsidiary Nietzsche Lanika main Maxi or area asset developed Karnaghi. To servotech Kahi Defocus naye area company key investments. Up Kathy may defocus who company acquire Kiya or Jitney Hindustan Ki Buddy Buddy TopShot Nifty 50k company I have. Apply Katie completely fair.
Gaurav Singh
Thank you. Thank you. That was all coming. All the best.
operator
Thank you. Participants, you may press star and one to ask a question. A reminder to all participants please press star and one to ask a question. Participants, please press star and one to ask a question. Ladies and gentlemen, as there are no further questions for today, I would now like to hand the conference over to Mr. Raman Bhatia for the closing remarks.
Raman Bhatia
Thank you. Thank you for your questions and for the constructive discussion today. As we have outlined, our priority remains consistent execution maintaining cost discipline and strengthening the quality of our earnings. We appreciate your continued engagement and interest in server tech, and we look forward to updating you as we progress in the coming quarters. Thank you, and have a good day. Thank you.
operator
Thank you, sir. Ladies and gentlemen, on behalf of servotech Renewable Power System Limited, that concludes this conference call. Thank you for joining us, and you may now disconnect your lines.