{"id":176792,"date":"2026-01-22T14:31:35","date_gmt":"2026-01-22T19:31:35","guid":{"rendered":"https:\/\/alphastreet.com\/india\/servotech-power-systems-limited-servotech-q3-2025-earnings-call-transcript\/"},"modified":"2026-01-22T14:31:35","modified_gmt":"2026-01-22T19:31:35","slug":"servotech-power-systems-limited-servotech-q3-2025-earnings-call-transcript","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/servotech-power-systems-limited-servotech-q3-2025-earnings-call-transcript\/","title":{"rendered":"Servotech Power Systems Limited (SERVOTECH) Q3 2025 Earnings Call Transcript"},"content":{"rendered":"

Servotech Power Systems Limited (NSE: SERVOTECH) Q3 2025 Earnings Call dated Jan. 23, 2025<\/span><\/strong><\/p>\n

Corporate Participants:<\/h2>\n

Raman Bhatia<\/strong> \u2014 Founder and Managing Director<\/em><\/p>\n

Analysts:<\/h2>\n

Tushar Pendharkar<\/strong> \u2014 Analyst<\/em><\/p>\n

Unidentified Participant<\/strong><\/p>\n

Presentation:<\/h2>\n

Operator<\/strong><\/p>\n

Good, ladies and gentlemen. Good day, and welcome to the Renewable Power Systems Limited Q3 and Nine Months FY ’25 Earnings Conference Call hosted by Venture Securities 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 after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing star and then zero on your touchstone phone. Please note that 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 over the call to Tushar from Venshra Securities. Thank you, and over to you, Tushar.<\/p>\n

Tushar Pendharkar<\/strong> \u2014 Analyst<\/em><\/p>\n

Thank you. Good day, ladies and gentlemen. On behalf of Venturea Securities Limited, I welcome you all to Renewable Power Systems Limited’s Q3 and nine months FY ’25 earnings conference call. The company is today represented by Mr Raman Bhatia, Founder and Managing Director; Mr, Finance Controller; and Ms Puja, Investor Relations of the company. I would now like to hand over the call to Mr Bhatia for his opening remarks. Thank you, and over to you, sir.<\/p>\n

Raman Bhatia<\/strong> \u2014 Founder and Managing Director<\/em><\/p>\n

Thank you. Thank you. Good morning, everyone, and a warm welcome. I am delighted to have you join us today as we discussed Renewable Power Systems Limited, which is formerly known as Power Systems Limited performance for Q3 FY ’25. In Indian economies, robust growth continues to fuel expansion in the power and infrastructure sector and is proud to be playing a key role in this progress. We remain committed to contributing to India’s sustainable developments. I am pleased to report a strong performance in this quarter. Our team’s dedication to innovation, sustainable growth strategies and effective execution of our order book has delivered excellent results, demonstrating the strength of strategic approach. Our Q3 FY ’25 total revenue reached at INR216 crore, a substantial increase of over 300% compared to the more than 300% compared to the same quarter last year. This growth has been significantly driven by the increasing demand for EV and robust charging infrastructure. Our EBITDA for the quarter reached more than INR17 crores, representing growth of over more than 400% and net profit also performed strongly, increasing by over 700% to reach INR9 crores. Looking at the nine months ending Q3 FY ’25, our total consolidated revenue reached INR529 crores, reflecting growth of over 142% compared to the same-period last year with-profit after tax growing by 198% to INR24.92 crores. I would like to highlight some key developments from the last quarter — past quarter. We have partnered with GMBH to develop solar-powered EV charging infrastructure in Germany. Our collaboration with Power will help us to meet the rising global demand for affordable EV charging solutions in the UK and North American markets. Domestically, we have secured orders of approximately INR61 crores only from the two departments of UPNeta and Uruda for solar order pump under the scheme and solar rooftop for schools and government offices in Uttar Pradesh and. We have significantly expanded our distribution network by adding approximately 40 new distributors this quarter for our recent launch range of solar products, which aligning with government initiatives such as PM, Ujna and PM. We are confident these products will play a significant role in advancing India’s clean-energy agenda and further expand our footprint in the renewable energy market. We are on-track to onboard approximately 24 distributors per month, targeting our network of over 300 distributors and 6,000 retailers. To address increasing captive consumption and supply-chain challenges, we are strategically entering solar PV manufacturing. This move will enhance our supply-chain reliance — silence and contribute to substantial future revenue growth. We are making significant investments in research and development to create innovative high-quality products that meet global standards. We are deeply committed to clean-energy and are investing heavily in EV charging infrastructure and other green energy solutions for a sustainable future. Overall, we are extremely pleased with our Q3 FY ’25 performance and remain optimistic about the future. Our focus on innovation, quality and sustainability will continue to drive our success. I would like to express my sincere gratitude to our dedicated team and valued customer supporting shareholders and suppliers for their continued trust and partnership. I’m happy to take your questions.<\/p>\n

Questions and Answers:<\/h2>\n

Operator<\/strong><\/p>\n

Thank you, sir. Ladies and gentlemen, we will now begin the question-and-answer session. If you have a question, please press star and 1 on your telephone keypad and wait for your turn to ask a question. If you would like to withdraw your request, you may do so by pressing star and 1 again. Ladies and gentlemen, if you have any question, please press star and one on your telephone keypad. First question comes from Shivam from 3A Financial Services. Please go-ahead.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Hello, am I audible?<\/p>\n

Operator<\/strong><\/p>\n

Yes.<\/p>\n

Raman Bhatia<\/strong><\/p>\n

Barah.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Yeah. First of all, congratulations on a great set of results. However, we can see that the operating margins quarter-on-quarter have fallen. So is there any particular reason for that? What quarter fallen go<\/p>\n

Raman Bhatia<\/strong><\/p>\n

Just. I’m just opening one second hello.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Yeah.<\/p>\n

Raman Bhatia<\/strong><\/p>\n

One second I’m very sorry.<\/p>\n

Operator<\/strong><\/p>\n

Your participants kindly stay connected while we connect the management team back on the call. I repeat your participants kindly stay connected while we connect the management team back on the call. Your participants kindly stay connected while we connect the management team back on the call. It will be recorded. I welcome back the management team.<\/p>\n

Raman Bhatia<\/strong><\/p>\n

Yeah, I’m very sorry. Yeah, please.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Hello, sir, do I repeat my question?<\/p>\n

Raman Bhatia<\/strong><\/p>\n

Yeah.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Yeah. First, as I said, the operating margins quarter-on-quarter have been falling. So is there a reason for that?<\/p>\n

Raman Bhatia<\/strong><\/p>\n

Sir, I’m little bit say sorry. I’m not able to find out the quarter-on-quarter it is falling. According to me, quarter-to-quarter possible, there is — there should be — there could be some differences, 1%, 2%. Like following is Niharaj balance sheet for, may from. Other may is Bhara. Last nine months car or current financial again nine months are, so it was 19.77% and currently still it is 19.71%. If we are talking about quarter in-quarter, so it was around 20% and currently it was — it is around 19%. So there is a difference is around 1.5%, which can be varied quarter-to-quarter. It is not able to maintain the quarter-to-quarter okay, so quarter-to-quarter expenses of John is not a big deal. So is, yet difference is books of accountable management, the expenses, pre-book post-book okay revenues are you choking yet plus-minus.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay our and regarding we are centering into solar PV manufacturing. So I would like to know — I have a couple of questions on this. Don’t you see the PV manufacturing for segment or the sector as a whole to be a bit overcrowded since almost a lot of players are entering into this or already a lot of all the many players are already there? Yeah. And that was my first question. Second question regarding this is what would be the capex for FY ’26, FY ’27 regarding — as we are entering into this new segment as well. So the total capex of the company planned capex.<\/p>\n

Raman Bhatia<\/strong><\/p>\n

But the. It is a backward integration. Hamari captive consumption is in, supply-chain related issue. Timely or quality supply minimal, you. So we are just going to save our cost and smooth our supply-chain. That is the main concern. We are not planning to Ham basically by. Is Home profit go profit percentage can be better out of that is number-one. Number two, how many supply-chain, that means Johan system. Chinese penalty supply in, order book was impact to that is another of solar panel, of. Has overcrowded market may must. So target and what is our strategy? That is very important. So strategy very much correct no, it’s time to come the major AI. Any captive consumption co or supply-chain for is a backward integration. Hope you understand the difference.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Yes.<\/p>\n

Raman Bhatia<\/strong><\/p>\n

And Karen if you are talking about the investment, then total investment we are planning in next three years, it could be more than INR300 crore again. And it is consolidated. It is not only for our PV manufacturing, it is consolidated.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Right. Okay, sir. That’s it from my side. I wish you all the best.<\/p>\n

Raman Bhatia<\/strong><\/p>\n

Thank you, sir. Thanks a lot.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. Next question comes from Dev from CAO Capital. Please go-ahead.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

We are more.<\/p>\n

Raman Bhatia<\/strong><\/p>\n

Thank you.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Sir, question be actually to your operating margins the good afternoon was job. Sir. Next question the capex PVK or other now account.<\/p>\n

Raman Bhatia<\/strong><\/p>\n

They have to understand things because Char, Joe Hamara growth rate Raha, profitability car or a revenue growth car 50% or Karim 90%. CAGR, J, because revenue may grow 50% or profit may around 90% now. Because our QT growth from to. Japan is growth to maintain Japan G is or, but it should be structured or strategic growth. So other book coming here. So,, Market, is, Mujay Agla, are breaking in. So last year, is, you see quarter the revenue per gas per. So, do I wrong, impact quarter. So are there quarter doso the revenue layer and some impact thing so-so if may supply-chain may Ham Jab, issue to issue product launch,, Indigenous or in-house. Power module giver Jaham control guard see control guard in power module in-house let’s say control. So supply-chain, warehouse in solar basket,, structured the part of the air or there is a is a, do can be any Mujay investment be required here or Mujay bandwidth be required here? Investment. In consolidation complement the product. So very, very machine, very product you is EV charger EV charger and flexing LEA plant now around are still around. It is a common because electronic electrical carbon, right? Yeah. Hope you understand.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

I understood, sir. Question I have plants? I mean, sir, you debottlenecking exercise for.<\/p>\n

Raman Bhatia<\/strong><\/p>\n

Sir LAB senior location, Sir. Beef name, Jap, COVID, Hamlo come the right TT, right warehousing see why production of and Haribas, to in total, we have a space which we have bought including that will say meter in total plant already operational at to have a second Unit 2 car expansion to have expansion Siru yeah.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Take it. Take it, sir. Sir,, next question, key — our future — future brokings of Kara and can we immediately as of now sir, demand car situation hits, HVBP, one of your tenders here Unka, Unka Kiara pipeline Yako or a rooftop major Prime Minister may announce Kiata keep — I think only crore number so the number, sir. It may — obviously say to start was the planning phase be retired. So what happened situation, sir? And when would we see Puri industry core rooftop solar side may be opportunities will make it. It’s a time on the giga, sir Kim Harper exclusive growth annual again.<\/p>\n

Raman Bhatia<\/strong><\/p>\n

Sir,, but other speach maybe about may repeat. See,, a bigger distributor hand 100. Last eight quarter plus distributor or at onboard or Hamaraju had 33 service distributor, 24 distributor per month at Ganega or Ham open networkbook distributor. In-store distributors keep there from, charge for District eight distributor averaging eight, Dana, you have INR8 crore, average, got sure. Got you. So Hamid additional business to plus some PM directly become, transform about the. So what are Yanity business last year may techni. Not double its business to home assume is vertical say?<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Just give me the risk inflection pointy AA AEA translate only luggy revenue.<\/p>\n

Raman Bhatia<\/strong><\/p>\n

Not just last quarter may, yes, last quarter challenged distributor may — okay.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

RTP repression for the summer, yes, sir. Both in the summer yes, sir.<\/p>\n

Raman Bhatia<\/strong><\/p>\n

It is not a prepression. Many distributors go.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Your distributors is that distributors only distributor at closer eight crore revenue starts coming in.<\/p>\n

Raman Bhatia<\/strong><\/p>\n

INR8 crores of revenue per year. That means who. Not sure. So already there is some. Yeah, the time is going to have supply-chain, warehousing, production, exactly.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Can you ask fiscal comment maybe like is a supply-chain issue here PV side may and even though both service suppliers, if it will be timely the availability material because of. So may revenue translate come in a is numbers have come a numbers on and again a P&L. Will it take some numbers.<\/p>\n

Raman Bhatia<\/strong><\/p>\n

Revenue may quarter-to-quarter, teen charge, teen char multifold VB of to, our main investors so you all Bana come four per as a sector to quarter.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

My question who singles custom mirr question BPCL or HPCL could be. Question actually ultimately, our KGO capital — our capex in working capital side may be Kush for cookie other rooftop solar or BPHPKGO charging stations saying, okay, contracts like. So over and above the INR300 crores which you are doing capex, you will also require some working capital. So I was drawing in that — I was moving in that direction.<\/p>\n

Raman Bhatia<\/strong><\/p>\n

We Laya, which are equity they become, simultaneously distribution network create working capital go better than maybe or we are in-line and Mujo.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Sure. So sir, sir, basically next year sal may acquire, you have your in terms of both the division solar and solar sideway a very good.<\/p>\n

Raman Bhatia<\/strong><\/p>\n

Solar division player, EV came, in total consolidately Pajasth to go improve dividing, how much say about okay.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Sir, question say EJ fundraising, sir. Is there preferential allotments here as the preferential allotment company where funding cut you can ask — sir, you play around or equity or cohort raised could you keep us, sir, could is currently or is currently.<\/p>\n

Raman Bhatia<\/strong><\/p>\n

You are or sure is in or okay, exact amounts only, but we can move a tag like those crore gas cost those.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Equity is up equity debt is.<\/p>\n

Raman Bhatia<\/strong><\/p>\n

Equity from debt allow gas, yeah.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay. And sir, you just say generally ARCO preferred mode. Yeah, ma’am, just I’m finishing. Just same question just finishing, ma’am, sentence or ARCO preferred mode, Hamisha, could invest investment. So your capital maybe.<\/p>\n

Raman Bhatia<\/strong><\/p>\n

But yes, Jammuka,, Hamari we could or savings your company, Hamara Companyway or Hamarik Poly side-by-side questioning again. So Hami At Uni, from day-one. Those are would have been in company.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Thank you very much.<\/p>\n

Raman Bhatia<\/strong><\/p>\n

Come on, what’s up.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Thank you very much.<\/p>\n

Raman Bhatia<\/strong><\/p>\n

We are — I just want to add one more thing. We are so much passionate about where we want to reach and this company goes with Nambra or.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Thank you very much, sir. All the best, sir. And thank you very much ma’am for giving me some additional time. Thank you. Thank you very much.<\/p>\n

Operator<\/strong><\/p>\n

Ladies and gentlemen, if you have any questions, please press star and one on your telephone keypad. I request the participants to restrict with two questions in the initial round and join back the queue for more questions. Ladies and gentlemen, if you have any question, please press R&1 on your telephone keypad. Next question comes from, an Individual Investor. Please go-ahead.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Yeah. Hello, sir, very good morning, sir and.<\/p>\n

Raman Bhatia<\/strong><\/p>\n

Good morning.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Congrats for your stellar results year-on-year on the ninth month, sir. Sir, I would like to ask you a question regarding about the work-in progress. So sir, changes in the inventories are more than 8 to nine CRs which are reflecting in the balance in the income statement. So sir, can you please shed some light on it that how it has been accumulated and how we are recognizing it?<\/p>\n

Raman Bhatia<\/strong><\/p>\n

Sir, you know, yeah, go-ahead,. After coming up do Kamari Pas orders keep your deadlines in, correct?<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay.<\/p>\n

Raman Bhatia<\/strong><\/p>\n

So what was the deadlines there? Okay, say how many production capacity, KI, SE, Joe Lagatar,, may have time again. What are many clients, may customers cool ahead, which may ahead, how many are being put for demand may, product-wise changes hand, we extended working market is.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay, sir. Okay.<\/p>\n

Raman Bhatia<\/strong><\/p>\n

So in Saka impact, ARPU multiple modules.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay. Yes, sir, Hamara, future orders happening storage.<\/p>\n

Raman Bhatia<\/strong><\/p>\n

It is not a storage, it is not a storage from there. It’s pipeline clean. This pipeline take money, I product. So ARPUC coverage is progress. Of that we do plant, art line, production as a complete purpose, we get so your technically in. Other inventory aging coming.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Working capital day. I guess, sir. Data.<\/p>\n

Raman Bhatia<\/strong><\/p>\n

Working capital, yes, if you could go right or would get through, right?<\/p>\n

Unidentified Participant<\/strong><\/p>\n

But working capital cycle this case.<\/p>\n

Raman Bhatia<\/strong><\/p>\n

This is a working this thing is, probably after quarters after me, of H1 is extending or currently be dissing to working capital, I don’t think he is season 2 okay.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay. Okay.<\/p>\n

Raman Bhatia<\/strong><\/p>\n

Hamariti inventory side have been including all pipeline. It is less than 28 days or 25 days and better size site is less than 78 to 80 days.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay.<\/p>\n

Raman Bhatia<\/strong><\/p>\n

And our target is to reduce it up to 60 days.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay, got it, got it. Got it. And sir, one more question. Okay, sir, Hamlo EV charger DCK under Hamara market-share, but are. So sir, Salham Ismay solar panel could be expand could planning RIKK sir, Solar Ka share market-share get ahead. So scale market-share.<\/p>\n

Raman Bhatia<\/strong><\/p>\n

EV chargers may contribute easily after solar sides come. Other last year say solar — solar will grow company the overall revenue line after the solar the company, EV charger named Yatta Teji. Maybe to product launch Joe the right Usi growth. Overall growth? Who.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay. Okay. So sir, SK under, some is EV, DC and are discovered right. So sir, Nikin, under equation. He sir, whose solar panel who equivalent case is sir, a separate segment came from Age Kushnaya, a corporate action plan.<\/p>\n

Raman Bhatia<\/strong><\/p>\n

After sawal, the be clearing at least?<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Yes, yes, yes. Key — sir, DC chargers are here. Are full-fledged sir going to be market-share budra. So sir, EC is our thumb solar panel could be sir, equivalent expansion may I or, Jitna again, we are more focusing on these DC chargers.<\/p>\n

Raman Bhatia<\/strong><\/p>\n

No, no, maybe, even PV penalty, manufacturing planti, 1.2 gigawatt.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay. Okay.<\/p>\n

Raman Bhatia<\/strong><\/p>\n

Other 1.2 gigawatt of land right panel manufacturing will contribute more than INR1,000 crore revenue for our — and if we are talking about the captive consumption, then you can calculate how big the revenue we are thinking?<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Marawal okay, sir. And sir one more like one more thing I would like to ask that.<\/p>\n

Operator<\/strong><\/p>\n

Can you join back the queue, please?<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay. Okay.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. Next question comes from, an individual Investor. Please go-ahead.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Hello, sir. Am I audible?<\/p>\n

Raman Bhatia<\/strong><\/p>\n

Yeah, please. Yeah.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Sorry, actually I am new tracking this particular company. So wanted a broad understanding in terms of our plans if there are any green hydrogen sector.<\/p>\n

Raman Bhatia<\/strong><\/p>\n

Mr, he our SRI team, strategic Research and insight team already working on hydrogen and we are searching to see where we can contribute. So going value or some of the shareholders. So it is taking time, but definitely we are working on that. Hello.<\/p>\n

Operator<\/strong><\/p>\n

Yes, sir, please go thank you.<\/p>\n

Raman Bhatia<\/strong><\/p>\n

Yeah, I have completed my statement.<\/p>\n

Operator<\/strong><\/p>\n

Yes, sir. Thank you. The next question comes from Amit Kumar, an Individual Investor. Please go-ahead.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Thank you for the opportunity and congrats on the good set of numbers. Sir, my question may be Donald be inaugural. Stage speech, electric vehicle an important that is focusing on oil and gas sectors and we are directly involved in EV batteries. So just wanted to of how it can impact negative — negatively not to the company but to India in the electric vehicles sector.<\/p>\n

Raman Bhatia<\/strong><\/p>\n

Donald Trump your size here economies for that is our statement if you can put India Khan in target. India also lega is the India of side impact Trump it means her economy do say key statements here Zu impacts transfer okay they are the Hindustanzi government in Bradesh plans budget VI or Japani automobile company that as are who as opposed. Although market there, whose other group year, other said double the global. So is still impact me, in term of overall market cap pie to 1%.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay.<\/p>\n

Raman Bhatia<\/strong><\/p>\n

So don’t worry about that. And please look at — look at in another perspect. So for all, let’s say this go. Please.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

And then sir, if you could provide the revenue guidance for next three years like FY ’26, ’27, ’28 28.<\/p>\n

Raman Bhatia<\/strong><\/p>\n

He bought the clarity exit numbers to or Nahi Ki Muji, but due performance update Paray for Jesse Dip Paray, to December ’23. Kaju, 3rd-quarter ’23,, Kata. See strategic updowns are they ranging, but some performs are it. We are — we are passionate and we are innovative and we are very serious about business, about the community, about India, and we are working on that. So you rest assured is, is may I the.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Thank you, sir. That’s our only question. Thank you.<\/p>\n

Raman Bhatia<\/strong><\/p>\n

Thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. Ladies and gentlemen, if you have any question please press R and one on your telephone keypad. I repeat ladies and gentlemen if you have any question please press R and 1 on your telephone keypad. Next question comes from Thangri, an Individual investor. Please go-ahead.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Hello.<\/p>\n

Operator<\/strong><\/p>\n

Please go-ahead.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Hello, sir, am I audible?<\/p>\n

Raman Bhatia<\/strong><\/p>\n

Yes, please.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Head over, sir. Sir, first of all, good morning. Yeah, hello. 60% pass charger sir Uski, they say all the companies are market may to again the demand for negatively.<\/p>\n

Raman Bhatia<\/strong><\/p>\n

Negative impact, the market if anybody has, okay. Or any serious player here. See come to, or hum, all care who, how much future so all we have a Hawaii market Hum, own components will be and own may players could be SRB plan because some competition again complementary or 100% is the market.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Sir, or doing further orders where oil companies are in a little further up the deals know so further orders upcoming orders, oil companies say.<\/p>\n

Raman Bhatia<\/strong><\/p>\n

Oil company is one a customer. So team is focused on currently book is client automobile companies have onboard charger a bit.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Yes, so.<\/p>\n

Raman Bhatia<\/strong><\/p>\n

Charger industry, some particular oil marketing company is India. Both of Indian, plant, company or to Agar NASA, are open. So we are not focused on the oil marketing companies. We are focused on the orders. So other oil marketing companies order, other than if you have, automoil company is, Kelly come the right. Some, company, onboard Ray, hum, two-wheeler, three-wheeler manufactured ray, hum trucks K manufactured. So don’t worry about that market was very-high. Customer-base of course.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay. Thank you, sir.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. Ladies and gentlemen, if you have any question, please press on your telephone keypad we have a follow-up question from Atnia Boricha, an Individual Investor. Please go-ahead.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Hello, sir. Am I audible?<\/p>\n

Raman Bhatia<\/strong><\/p>\n

Yes.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Yes. Sir, right now, at Sir key, we are setting up an EV plant will generate additionally INR1,000 crores. So sir, Amara projections cut the car ahead asset.<\/p>\n

Raman Bhatia<\/strong><\/p>\n

So we come in the EV module.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Yeah, yeah, yeah. Sorry, sorry PVP module. Yeah, correct, correct.<\/p>\n

Raman Bhatia<\/strong><\/p>\n

PV module, how are 1.2 gigawatt gawatt INR2,000 crores are contribute, right? Yes. So it add-on, we exited the.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay, okay, operational. Okay, sir, very good, please.<\/p>\n

Raman Bhatia<\/strong><\/p>\n

Not committing. I am telling you move like timeline say your project management teamway or a consultant or contractor has a, you.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Yes, yes, yes, sir. Sir, a last question, sir. Sir, we are targeting for 300 distributors and 6,000 retailers. So sir, EA — so sir, EA Humara target couple achieve host sir in the near-term approximation.<\/p>\n

Raman Bhatia<\/strong><\/p>\n

If 100 achieve the game. We have already crossed 100.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay, okay.<\/p>\n

Raman Bhatia<\/strong><\/p>\n

24 distributors per month. So you can calculate with the time.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay, okay. 21 distributors per month.<\/p>\n

Raman Bhatia<\/strong><\/p>\n

24.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

24 per month. Okay, okay, okay, sir. Got it. Got it, sir. And sir, any other revenue projections which we can give right now as on the lower side for the next financial year?<\/p>\n

Raman Bhatia<\/strong><\/p>\n

Yeah you all are good in a mathematics not you can calculate it. Thank you.<\/p>\n

Operator<\/strong><\/p>\n

Ladies and gentlemen, if you have any questions please press R&1 on your telephone keypad. I repeat, ladies and gentlemen if you have any question please press and 1 on your telephone keypad. I repeat ladies and gentlemen, if you have any question please press Tar and 1 on your telephone please we have a follow-up question from Boricha, an individual investor. Please go-ahead.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Yeah. Sir, one more question that we have allocated INR300 crore capex. So by what time will contribute this INR300 crore capex into our working capital, yeah.<\/p>\n

Raman Bhatia<\/strong><\/p>\n

Okay. I think working capital, so this is not working. It is capex. Sorry, but it is a capex, seems to grow from capex will you clarify, can I ask business.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Yes, yes, sir. So for CapEx on Kitness, what is the projected timeline to get this.<\/p>\n

Raman Bhatia<\/strong><\/p>\n

Number is a target and go for the number again.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay. Okay.<\/p>\n

Raman Bhatia<\/strong><\/p>\n

Sorry, those are. Those are the numbers have.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay. Yes, sir. Yes, sir. That’s it. That’s it. Thank you, sir for giving all the answers for my question.<\/p>\n

Raman Bhatia<\/strong><\/p>\n

Thank.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. Ladies and gentlemen, if you have any questions, please press star and one on a telephone keypad. There are no further questions. Now I hand over the floor to Mr Bhatia for closing comments.<\/p>\n

Raman Bhatia<\/strong><\/p>\n

Thank you all for joining the call and for your insightful questions. Our discussion today has been valuable. We look-forward to updating you again next quarter. Before we conclude, on behalf of the entire team, I wish you all a very Happy Republic day. Stay safe and Jay. Thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you, sir. Ladies and gentlemen, this concludes the conference call for today. Thank you for your participation. You may now disconnect your lines. Thank you and have a good day.<\/p>\n","protected":false},"excerpt":{"rendered":"

Servotech Power Systems Limited (NSE: SERVOTECH) Q3 2025 Earnings Call dated Jan. 23, 2025 Corporate Participants: Raman Bhatia \u2014 Founder and Managing Director Analysts: Tushar Pendharkar \u2014 Analyst Unidentified Participant Presentation: Operator Good, ladies and gentlemen. Good day, and welcome to the Renewable Power Systems Limited Q3 and Nine Months FY ’25 Earnings Conference Call […]<\/p>\n","protected":false},"author":2377,"featured_media":147581,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[6349],"tags":[10169,9175,9104,9092,14492,10089],"class_list":["post-176792","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-transcripts","tag-earnings","tag-earnings-call","tag-earnings-conference","tag-earnings-transcripts","tag-financial-results","tag-quarterly-earnings"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":149598,"url":"https:\/\/alphastreet.com\/india\/servotech-power-systems-ltd-q1fy24-1051-rise-in-profits\/","url_meta":{"origin":176792,"position":0},"title":"Servotech Power Systems Ltd Q1FY24; 1051% rise in Profits","author":"Chirag Gupta","date":"July 21, 2023","format":false,"excerpt":"Servotech Power Systems, incorporated in 1998, is engaged in manufacturing LED lighting solutions, UPS (uninterruptible power supply) systems, inverters, and batteries. Financial Results: Servotech Power Systems Ltd reported Revenues for Q1FY24 of \u20b968.14 Crores up from \u20b930.15 Crore year on year, a rise of 126.0%. Total Expenses for Q1FY24 of\u2026","rel":"","context":"In "AlphaGraphs"","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/07\/image-131.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/07\/image-131.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/07\/image-131.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/07\/image-131.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/07\/image-131.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/07\/image-131.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":179256,"url":"https:\/\/alphastreet.com\/india\/servotech-renewable-power-system-ltd-reports-sequential-recovery-in-q3-fy26-financials\/","url_meta":{"origin":176792,"position":1},"title":"Servotech Renewable Power System Ltd Reports Sequential Recovery in Q3 FY26 Financials","author":"Staff Correspondent","date":"February 3, 2026","format":false,"excerpt":"Manufacturer achieves significant growth in consolidated profit and revenue following Q2 operational disruptions. Results indicate improved execution efficiency and cost discipline across solar and EV segments. Servotech Renewable Power System Ltd. (NSE: SERVOTECH) reported a sharp sequential recovery for the third quarter ended December 31, 2025. Consolidated profit after tax\u2026","rel":"","context":"In "Analysis"","block_context":{"text":"Analysis","link":"https:\/\/alphastreet.com\/india\/category\/stock-analysis\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":179258,"url":"https:\/\/alphastreet.com\/india\/servotech-renewable-power-systems-ltd-a-strategic-turnaround-driving-indias-clean-energy-future\/","url_meta":{"origin":176792,"position":2},"title":"Servotech Renewable Power Systems Ltd: A Strategic Turnaround Driving India\u2019s Clean Energy Future","author":"Staff Correspondent","date":"February 3, 2026","format":false,"excerpt":"Servotech Renewable Power System Ltd. (NSE: SERVOTECH) has announced a significant sequential recovery in its Q3 FY2025-26 financial results, marking an inflection point driven by a strategic reset and improved operational execution. The company, a leading provider of clean energy solutions specializing in solar innovations and EV charging, reported a\u2026","rel":"","context":"In "Analysis"","block_context":{"text":"Analysis","link":"https:\/\/alphastreet.com\/india\/category\/stock-analysis\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":176788,"url":"https:\/\/alphastreet.com\/india\/servotech-power-systems-limited-servotech-q1-2026-earnings-call-transcript\/","url_meta":{"origin":176792,"position":3},"title":"Servotech Power Systems Limited (SERVOTECH) Q1 2026 Earnings Call Transcript","author":"News desk","date":"January 22, 2026","format":false,"excerpt":"Servotech Power Systems Limited (NSE: SERVOTECH) Q1 2026 Earnings Call dated Aug. 01, 2025 Corporate Participants: Unidentified Speaker Amit Patel Raman Bhatia \u2014 Founder & Managing Director Vipin Kaushik Ankit Arora Prabhutva Tiwari Analysts: Unidentified Participant Himanshu Mahto \u2014 Analyst Shruti \u2014 Analyst Neha \u2014 Analyst Tushar \u2014 Analyst Nicholas\u2026","rel":"","context":"In "Earnings Call Transcripts"","block_context":{"text":"Earnings Call Transcripts","link":"https:\/\/alphastreet.com\/india\/category\/transcripts\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg?resize=350%2C200&ssl=1 1x, 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Bhatia \u2014 Founder and Managing Director Analysts: Tushar Pendharkar \u2014 Analyst Girish S. \u2014 Individual Investor Vidya Sharma \u2014 Analyst Jay Padmani \u2014 Individual Investor Naman Sharma \u2014 Individual Investor Vasu Thangri \u2014\u2026","rel":"","context":"In "Earnings Call Transcripts"","block_context":{"text":"Earnings Call Transcripts","link":"https:\/\/alphastreet.com\/india\/category\/transcripts\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg?resize=525%2C300&ssl=1 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