Servotech Scores Big: ₹600 Million Order and Solar Expansion in the Spotlight

Servotech Renewable Power System Ltd has had a busy June, landing some big contracts and making moves to grow even further in the solar energy space.

 

Here’s what’s happening:

 

The company just secured a major order worth ₹336 million from the Northeast Frontier Railway’s Rangiya Division. They’ll be setting up a 7.8 MW grid-connected solar rooftop project, which includes everything from designing and installing the panels to keeping them running smoothly for the next five years. This project is a big step for the railways in cutting down their carbon emissions.

 

On top of that, Servotech is investing in the future by buying a 27% stake in Rhine Solar Ltd, a solar panel manufacturer based in New Delhi. The deal, worth ₹121.5 million, means Servotech is now getting into the business of actually making solar panels, not just installing them.

 

Rhine Solar already has a 100 MW manufacturing plant, but with Servotech’s support, they’re planning to ramp up production to 600 MW within a year. The goal is to supply both Indian and international markets with high-efficiency panels.

 

Financially, Servotech is on a roll. Their latest quarterly results show profits more than doubling compared to last year, and revenues are up to ₹146 crore.

 

All these moves fit into Servotech’s bigger plan: to be a one-stop shop for renewable energy solutions and help push India closer to its clean energy targets.

 

Source: Moneycontrol, Marketscreener, AngelOne, TradingView, Screener, Goodreturns, Servotech Press Release