Manufactures clean energy equipment including rooftop solar systems, battery energy storage systems (BESS), and DC fast EV chargers, and runs a Sports & Entertainment subsidiary that is currently loss-making. FY26 revenue stood at ₹671.64 crore at an EBITDA margin of 10.5631%; Q1 FY27 standalone revenue reached ₹208.10 crore, up 66.31% year-on-year. Materials at 74.5% of revenue are the dominant input cost, with capex at 15.4% of revenue. Manufacturing capacity is being scaled via a ₹400 crore MoU with the Haryana government, with BESS production targeted to expand 2x in roughly six months, 3x by March 2027, and 10x over two years. Distribution covers 800+ distributors and 6,000+ retailers across 370+ towns, and channel partner penetration is being expanded across South, North, and North-East India. An internal fraud involving two employees and an external party is under police investigation, with estimated financial impact of ₹2-2.5 crore. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Solar solutions, Battery Energy Storage Systems (BESS), EV chargers, Sports & Entertainment. Manufacturing and EPC of solar, BESS and EV charging equipment, with an expanding distribution network and a non-core loss-making subsidiary
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 144 | 270 | 354 | 674 | 672 |
| EBITDA (ex other income) | 9 | 10 | 21 | 56 | 67 |
| margin % | 6.3 | 3.7 | 5.9 | 8.2 | 10.0 |
| Owners' profit | 0 | 11 | 12 | 42 | 34 |
| EPS, as reported (₹) | 2.15 | 1.04 | 0.54 | 1.46 | 1.49 |
| ROE % · ROCE % | — · — | 13.5 · 18.3 | 8.3 · 11.9 | 13.7 · 19.6 | 10.7 · 14.5 |
| Debt / equity (x) | — | 0.51 | 0.51 | 0.32 | 0.71 |
| Cash from operations | 8 | (24) | 1 | (55) | (2) |
| Capex | (3) | 0 | (26) | (18) | (103) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 200 | 216 | 146 | 137 | 106 | 211 | 217 | 216 |
| Profit before tax | 15 | 13 | 11 | 7 | 1 | 20 | 13 | 11 |
| Net profit | 11 | 9 | 8 | 5 | 0 | 16 | 11 | 8 |
| EPS (₹) | 0.51 | 0.41 | 0.35 | 0.23 | 0.06 | 0.65 | 0.54 | 0.41 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| WAAREE ENERGIES LIMITED | 75,508 | 19.8 | 5.03 | 12.2 | 25.9 | 29.0 | — | 20.3 |
| APAR INDUSTRIES LTD. | 70,293 | 59.5 | 13.03 | 36.9 | 18.1 | 21.9 | 29.1 | 12.0 |
| PREMIER ENERGIES LIMITED | 44,224 | 26.2 | 10.26 | 18.0 | 35.0 | 25.7 | — | 30.8 |
| EMMVEE PHOTOVOLTAIC PWR L | 23,872 | 17.9 | 6.46 | 13.3 | 29.3 | 31.2 | — | 36.3 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 3 Sept 2026 · Newspaper ad confirms dispatch of 22nd AGM notice for Servotech | compliance | minimal | — | — |
| 2 Sept 2026 · AGM Notice on Sept 25, 2026 with 11 resolutions including final dividend | board shareholder meetings | low | — | — |
| 31 Aug 2026 · Servotech 22nd AGM notice published in newspaper; e-voting from 21 Sept 2026 | compliance | minimal | — | — |
| 27 Aug 2026 · Record date set for FY26 dividend, AGM book closure from Sep 19-25 | corporate actions | high | — | — |
| 27 Aug 2026 · Board okays MD re-appointment, 800cr borrowing limit hike, Rhine Solar deals | management changes | high | — | — |
| 27 Aug 2026 · Board okays 800 cr borrowing cap hike, MD re-appointment, AGM on Sep 25 | board shareholder meetings | low | — | — |
| 21 Aug 2026 · Internal Auditor resigns citing personal reasons | management changes | medium | — | — |
| 28 Jul 2026 · Q1 FY27 earnings call transcript filed; revenue up 66 percent YoY | investor communications | medium | — | — |
| 23 Jul 2026 · Internal fraud of Rs 2-2.5 cr detected, FIR filed against two employees | regulatory legal | critical | — | — |
| 23 Jul 2026 · Newspaper publication of Q1 FY27 results filed with NSE | compliance | minimal | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| MTAR TECHNOLOGIES LIMITED | 22,531 | 168.8 | 27.39 | 120.2 | 11.4 | 12.4 | 28.9 | 25.8 |
| DIAMOND POWER INFRA LTD | 19,448 | 98.9 | — | 94.7 | (26.2) | 8.6 | — | 12.3 |
| AVALON TECHNOLOGIES LTD | 15,293 | 114.3 | 21.19 | 76.2 | 15.6 | 20.0 | — | 12.5 |
| GENUS POWER INFRASTRU LTD | 9,830 | 13.7 | 4.43 | 12.1 | 26.7 | 22.7 | 50.8 | 22.1 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 46.7 | 26.2 | 41 of 53 | 23% |
| P/B | 5.9 | 3.6 | 36 of 49 | 27% |
| ROCE | 11.2 | 12.3 | 31 of 56 | 46% |
| ROE | 10.7 | 11.5 | 30 of 53 | 44% |
| Debt / Equity | 0.7 | 0.2 | 38 of 53 | 29% |
| EBITDA margin | 9.7 | 12.6 | 35 of 51 | 32% |
| Revenue growth | 57.8 | 20.7 | 10 of 46 | 80% |
| Profit growth | 77.0 | 37.7 | 17 of 45 | 64% |
| Market cap | 1749 | 641 | 20 of 56 | 66% |
| A state: the latest filed quarter and the measured reactions |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
