Solar, EV stock Servotech Power pares intraday loss after this order book update

Servotech Renewable Power System share price: Solar, EV stock Servotech Renewable Power System rebounded 3% to its day's high of ₹97.95 on Wednesday after Servotech Renewable secures ₹73.70 crore rooftop solar project from NREDCAP, Govt. of Andhra Pradesh.

The stock initially fell 1.8 percent to its day's low of ₹95.15 to later rebound 3% to its day's high.

Servotech Renewable Power System has secured a ₹73.70 crore order from the New & Renewable Energy Development Corporation of Andhra Pradesh Ltd. (NREDCAP) under the PM Surya Ghar: Muft Bijli Yojana. The mandate covers the rollout of grid-connected rooftop solar systems across the Kavali division, marking a significant push toward expanding solar access for underserved households in the state.

The clean-energy manufacturer will handle the Design, Engineering, Supply, Installation, Testing and Commissioning of rooftop solar (RTS) plants of various capacities for 5,886 Scheduled Caste and Scheduled Tribe households. The project will be executed through a Utility-Led Aggregation (CAPEX) model and will include five years of comprehensive operations and maintenance.

Major push for clean energy access in Andhra Pradesh

According to the company, the initiative is expected to deliver reliable, clean and affordable power to thousands of beneficiaries, supporting the state’s renewable-energy goals and contributing to broader socio-economic development. The large-scale deployment is also expected to strengthen distributed solar penetration in rural and semi-urban regions.

Sarika Bhatia, Whole-Time Director at Servotech Renewable Power System Ltd., expressed optimism about the order. “We are honored to have this opportunity to work with NREDCAP on a project that brings solar energy directly to thousands of consumers from the community. This order reflects our commitment to advancing inclusive clean energy growth and demonstrates our ability to execute large-scale distributed solar deployments with precision and quality. Servotech Renewable remains focused on empowering communities and strengthening India’s journey toward a sustainable, energy-secure future,” she said.

The project is positioned as a major milestone in the company’s mission to scale clean-energy infrastructure and support India’s broader push toward sustainability and energy security.

Servotech Renewable Power System Q2 Results

Servotech Renewable Power Systems reported standalone revenue of ₹10,292.63 lakh for Q2FY26, a 17.5 percent decline from ₹12,513.59 lakh in Q1FY26. Profit after tax fell 69.9 percent to ₹227.23 lakh, down from ₹755.06 lakh in the previous quarter. Operating profit (EBITDA) came in at ₹974.18 lakh, marking a 31.55 percent sequential decline.

Servotech Renewable Power System share price trend

The EV stock has underperformed sharply in the near term. Servotech’s share price has fallen over 21% in the last month, 22% in the past three months, 24% over the last six months, and 45% in the past one year.

However, over the past three years, Servotech Renewable shares have delivered multibagger returns of 710%.

Servotech Renewable Power Systems is a key player in India’s clean-energy manufacturing space, known for producing EV chargers, solar solutions, power electronics, and lithium-powered systems.

Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.