Solar Solutions Provider & CIMSME Launch User-Friendly Mobile App, Accelerating 1 Lakh Solar Home Target by 2026
The stock is up over 58 per cent from its 52-week low of Rs 73.50 per share and delivered multibagger returns of over 8,600 per cent in 5 years.
Servotech Renewable Power System Ltd (NSE: SERVOTECH), a leader in sustainable energy solutions, and the Chamber of Indian Micro, Small & Medium Enterprises (CIMSME) have signed MoU to significantly boost the adoption of solar energy across India. In support of the PM Surya Ghar Muft Bijli Yojana, they aim to install 100,000 solar rooftop systems in homes by 2026.
A key component of this initiative is the launch of a dedicated, user-friendly mobile application developed by CIMSME in collaboration with Servotech. This app simplifies the entire solar adoption process, offering homeowners a seamless experience from initial roof inspection and documentation to installation, system monitoring, and subsidy application assistance.
To ensure efficient nationwide implementation, CIMSME will mobilise a network of approximately 30,000 individuals. Operating on a PIN code basis, this dedicated workforce will facilitate sales, provide on-the-ground support, and oversee installation.
Servotech, already registered with 62 DISCOMs across the country, will provide comprehensive end-to-end solar solutions, including the installation of Solar Photovoltaic Generation Systems (SPGS) ranging from 2kW to 10kW, tailored to meet diverse household energy needs. The company will also provide ongoing maintenance services to ensure optimal system performance.
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About the Company
Servotech Renewable Power System Limited (formerly Servotech Power Systems Ltd) is an NSE-listed organisation developing tech-enabled EV Charging solutions, leveraging over two decades of experience and expertise in the electronics space. We offer an extensive range of AC and DC chargers compatible with various electric vehicles and serve multiple applications, including commercial and domestic ones. With our comprehensive engineering capabilities, we aim to play a pivotal role in developing India's EV tech infrastructure. As a trusted brand with a strong pan-India presence, our legacy is marked by proven innovations and the development of advanced technologies.
Total revenue increased by 315.3 per cent to Rs 21,683.2 lakh from Rs 5,220.6 lakh in the same quarter last year. Additionally, PAT increased significantly by 616.8 per cent to Rs 798.7 lakh from Rs 111.4 lakh. Revenue reached Rs 52,934.0 lakh in 9MFY25, up 142.1 per cent from Rs 21,861.0 lakh in 9MFY24. PAT also grew substantially, increasing by 184.1 per cent to Rs 2,371.9 lakh from Rs 834.8 lakh in 9MFY25 over 9MFY24.
In January 2025, FIIs bought 9,28,856 shares and increased their stake to 3.10 per cent compared to December 2024. The company has delivered good profit growth of 30 CAGR over the last 5 years, and its median sales growth is 22.5 per cent over the last 10 years with a market cap of over Rs 2,500 crore. The stock is up over 58 per cent from its 52-week low of Rs 73.50 per share and delivered multibagger returns of over 8,600 per cent in 5 years. Investors should keep an eye on this multibagger stock.
Disclaimer: The article is for informational purposes only and not investment advice.