Servotech Renewable Power System Limited has informed the Exchange about Bagging/Receiving of orders/contracts
SERVOTECH · price
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Servotech Renewable Power System has secured an order worth approximately INR 60 Crores from Madhya Pradesh Urja Vikas Nigam Ltd., a state government undertaking under the Department of New and Renewable Energy. The order is for a 16 MW on-grid solar rooftop project across various locations in Madhya Pradesh, covering design, supply, installation, and commissioning of rooftop solar systems ranging from 1 KW to 500 KW each. The project is to be executed within five months from the issuance of the work order. This is a domestic order with no related party involvement.
This is a sizeable domestic order from a credible state government entity, which strengthens Servotech's order book and provides near-term revenue visibility. Such government-backed orders are generally considered lower-risk for execution and may be viewed positively by the market, though the stock reaction will depend on the order's size relative to the company's overall revenue and existing order pipeline.