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Servotech Renewable Power System Q2 FY27 results: net profit ₹9.75 crore vs ₹0.40 crore, revenue up 57.0%
Servotech Renewable Power System Limited reported consolidated revenue of ₹167.18 crore and a net profit of ₹9.75 crore for Q2 FY27. Revenue rose 57.0% from Q2 FY26, while the EBITDA margin increased 7.2 percentage points to 13.1%; profit after tax was ₹9.75 crore versus ₹0.40 crore a year earlier.
Key points
- Consolidated revenue was ₹167.18 crore in Q2 FY27, up 57.0% from ₹106.49 crore in Q2 FY26.
- EBITDA was ₹21.95 crore and the margin was 13.1%, compared with ₹6.28 crore and 5.9% a year earlier.
- Net profit was ₹9.75 crore versus ₹0.40 crore in Q2 FY26, while basic EPS was ₹0.41 versus ₹0.06.
- Revenue fell 22.5% from ₹215.79 crore in Q1 FY27, but net profit rose 21.1% from ₹8.05 crore and EBITDA rose 7.4%.
- H1 FY27 revenue was ₹382.96 crore, up 57.4% from ₹243.24 crore in H1 FY26, while PAT was ₹17.8 crore versus ₹4.95 crore.
How did Servotech Renewable Power System perform in Q2 FY27?
Servotech Renewable Power System reported consolidated revenue of ₹167.18 crore for Q2 FY27, up 57.0% from ₹106.49 crore in Q2 FY26. EBITDA rose 249.5% to ₹21.95 crore from ₹6.28 crore, while the EBITDA margin increased 7.2 percentage points to 13.1% from 5.9%.
Profit before tax was ₹12.56 crore, compared with ₹0.53 crore in Q2 FY26, and net profit was ₹9.75 crore versus ₹0.40 crore. Basic EPS was ₹0.41, up from ₹0.06. The board approved the unaudited standalone and consolidated results for the quarter and half year ended 30 September 2026 on 3 November 2026.
Against Q1 FY27, revenue fell 22.5% to ₹167.18 crore from ₹215.79 crore, but EBITDA rose 7.4% to ₹21.95 crore from ₹20.44 crore. The margin increased 3.6 percentage points to 13.1%, PBT rose 18.3% to ₹12.56 crore, and net profit rose 21.1% to ₹9.75 crore. Basic EPS was unchanged at ₹0.41. On a standalone basis, revenue was ₹157.23 crore and PAT was ₹8.37 crore.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 167.18 | 215.79 | 106.49 | +57.0% | −22.5% |
| Other income | 1.65 | 0.51 | 1.16 | +42.2% | +223.5% |
| Total expenses | 156.27 | 205.68 | 107.13 | +45.9% | −24.0% |
| EBITDA | 21.95 | 20.44 | 6.28 | +249.5% | +7.4% |
| EBITDA margin | 13.1% | 9.5% | 5.9% | +7.2 pp | +3.6 pp |
| Profit before tax | 12.56 | 10.62 | 0.53 | +2269.8% | +18.3% |
| Tax | 3.02 | 2.67 | 0.13 | +2223.1% | +13.1% |
| Net profit | 9.75 | 8.05 | 0.40 | +2337.5% | +21.1% |
| EPS (₹) | 0.41 | 0.41 | 0.06 | +583.3% | +0.0% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in Servotech Renewable Power System's costs and profit?
Total expenses were ₹156.27 crore in Q2 FY27, up ₹49.14 crore from ₹107.13 crore in Q2 FY26. Cost of materials increased ₹45.06 crore to ₹130.42 crore, employee cost rose ₹2.96 crore to ₹8.66 crore, finance costs increased ₹2.77 crore to ₹5.37 crore, and depreciation rose ₹1.35 crore to ₹5.67 crore. Other expenses increased ₹0.86 crore to ₹11.34 crore.
Other income was ₹1.65 crore, up ₹0.49 crore from ₹1.16 crore in Q2 FY26. Tax expense was ₹3.02 crore, compared with ₹0.13 crore, and there was no exceptional item in either period. The filing does not state a reason for the year-on-year increase in costs.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 130.42 | 85.36 | +45.06 | +52.8% |
| Employee cost | 8.66 | 5.70 | +2.96 | +51.9% |
| Finance costs | 5.37 | 2.60 | +2.77 | +106.5% |
| Depreciation | 5.67 | 4.32 | +1.35 | +31.2% |
| Other expenses | 11.34 | 10.48 | +0.86 | +8.2% |
| Total expenses | 156.27 | 107.13 | +49.14 | +45.9% |
| Other income | 1.65 | 1.16 | +0.49 | +42.2% |
| Tax | 3.02 | 0.13 | +2.89 | +2223.1% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In the first half of FY27, Servotech reported revenue of ₹382.96 crore, up 57.4% from ₹243.24 crore in H1 FY26. Total income was ₹385.12 crore, compared with ₹244.82 crore, while PBT rose 226.5% to ₹23.18 crore from ₹7.1 crore.
PAT for H1 FY27 was ₹17.8 crore, compared with ₹4.95 crore in H1 FY26. Basic EPS increased 182.8% to ₹0.82 from ₹0.29.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 382.96 | 243.24 | +57.4% |
| Profit before tax | 23.18 | 7.10 | +226.5% |
| Net profit | 17.80 | 4.95 | +259.6% |
| EPS (₹) | 0.82 | 0.29 | +182.8% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹669.23 crore, compared with ₹685.04 crore at 31 March 2026. Total equity was ₹313.67 crore against ₹295.87 crore, while borrowings were ₹255.41 crore compared with ₹209.3 crore. Cash was ₹7.54 crore against ₹2.48 crore.
Inventories increased to ₹76.59 crore from ₹59.85 crore, while trade receivables fell to ₹181.28 crore from ₹219.41 crore. Trade payables declined to ₹56.14 crore from ₹142.19 crore. For H1 FY27, operating cash flow was negative ₹26.84 crore, compared with positive ₹13.56 crore in H1 FY26.
Investing cash flow was negative ₹1.78 crore in H1 FY27, compared with negative ₹87.64 crore in H1 FY26, and capex was ₹3.68 crore versus ₹87.57 crore. Financing cash flow was positive ₹35.63 crore, compared with positive ₹92.78 crore in H1 FY26.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 669.23 | 685.04 |
| Total equity | 313.67 | 295.87 |
| Borrowings | 255.41 | 209.30 |
| Cash and equivalents | 7.54 | 2.48 |
| Inventories | 76.59 | 59.85 |
| Trade receivables | 181.28 | 219.41 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −26.84 | 13.56 |
| Cash from investing | −1.78 | −87.64 |
| Cash from financing | 35.63 | 92.78 |
| Capital expenditure | 3.68 | 87.57 |
Source: Company's results filing (XBRL).
How has Servotech Renewable Power System done over the last 8 quarters?
Revenue reached ₹217.33 crore in Q4 FY26 before declining to ₹215.79 crore in Q1 FY27 and ₹167.18 crore in Q2 FY27. PAT bottomed at ₹0.40 crore in Q2 FY26 and later reached ₹15.52 crore in Q3 FY26; it was ₹9.75 crore in Q2 FY27. The EBITDA margin bottomed at 5.9% in Q2 FY26, peaked at 13.3% in Q3 FY26 and was 13.1% in Q2 FY27.
Revenue rose year on year in each of the last three quarters, while profit rose year on year in each of the last four quarters. The current quarter showed lower revenue than Q1 FY27, but net profit and EBITDA margin moved higher.
What did Servotech Renewable Power System's management say?
Management said the company was focusing on strengthening its position across renewable energy and e-mobility, with opportunities in solar energy, battery energy storage systems and EV charging infrastructure. It said it was scaling manufacturing, logistics, backward integration, pan-India distribution, R&D, digitalisation and AI-led operations.
Management identified solar plants, solar panel and BOS, and solar inverters as the main contributors to the Q2 FY27 revenue mix, while EV contributed 3.98%. It also cited competition, changes in government policies and fiscal measures, technological risks, raw-material price volatility, supply-chain disruptions and general economic conditions as risks.
The investor presentation did not provide quantified earnings, margin, capacity or expansion guidance. It described plans to scale the Kundli manufacturing hub, use the Safiabad plant for EV chargers and components, and expand distribution through 800+ distributors, 6,000+ retailers and 370+ towns.
How did Servotech Renewable Power System shares react?
After the filing, the stock rose 4.4% within 5 minutes, 2.2% after 15 minutes and 2.5% after 30 minutes. It closed 5.0% higher on the reaction day from the previous close of ₹64.02, and by the next day's close it was up 7.0% from that pre-results close.
The Other Electrical Equipment sector's median move was 2.3% on the reaction day and 2.5% by the next day's close. Servotech's excess move was 2.8 percentage points on the reaction day and 4.5 percentage points by the next day's close. Earlier results-day moves included 23.7% on 30 January 2026, negative 9.5% on 9 November 2025 and negative 4.6% on 30 July 2025.
| After the filing | Stock | Other Electrical Equipment median |
|---|---|---|
| 5 minutes | +4.4% | |
| 15 minutes | +2.2% | |
| 30 minutes | +2.5% | |
| Reaction day | +5.0% | +2.3% |
| Next day | +7.0% | +2.5% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 21 July 2026 | −0.5% |
| 30 April 2026 | +1.1% |
| 30 January 2026 | +23.7% |
| 9 November 2025 | −9.5% |
| 30 July 2025 | −4.6% |
| 6 May 2025 | −4.4% |
| 21 January 2025 | −0.5% |
| 28 October 2024 | +5.0% |
Source: MarketPing price-reaction measurement.
How did other Other Electrical Equipment companies do?
Among 23 Other Electrical Equipment companies compared for the quarter, the median revenue growth was 39.4%. Servotech's revenue growth was higher than that of 15 peers and lower than that of 8 peers. Of 21 peers for which profit was compared, 12 reported higher profit.
| Servotech Renewable Power System revenue growth (YoY) | +57.0% |
|---|---|
| Median of 23 other Other Electrical Equipment companies | +39.4% |
| Companies with slower revenue growth than Servotech Renewable Power System | 15 of 23 |
| Companies with faster revenue growth than Servotech Renewable Power System | 8 of 23 |
| Companies whose net profit rose | 12 of 21 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Servotech Renewable Power System's revenue in Q2 FY27?
Revenue from operations was ₹167.18 crore, up 57.0% from ₹106.49 crore in Q2 FY26 (consolidated).
Did Servotech Renewable Power System make a profit in Q2 FY27?
Yes. Net profit was ₹9.75 crore, against a net profit of ₹0.40 crore in Q2 FY26.
What was Servotech Renewable Power System's EPS in Q2 FY27?
Basic earnings per share were ₹0.41, against ₹0.06 in Q2 FY26.
How did Servotech Renewable Power System shares react to the Q2 FY27 results?
On the reaction day the stock moved +5.0% from the previous close; the median Other Electrical Equipment stock moved +2.3%.
When did Servotech Renewable Power System announce its Q2 FY27 results?
On 3 November 2026, in a filing to the NSE.
Sources
- Outcome of Board Meeting (NSE, 3 November 2026) · PDF
- The investor presentation (4 November 2026)
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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