Any current/future new fundraising through debt or equity?

The company plans to raise funds before June, targeting around ₹200 to ₹300 crore. The exact amount is uncertain but fundraising is confirmed. Fundraising will likely include equity; debt is treated as a separate matter. Debt financing has already been used to raise working capital to support operations. The company has engaged in preferential allotments and public fundraising rounds in the past. No specific details on the number of future fundraising rounds or timelines provided beyond the June target. Management is confident about the fundraising process and its support for growt

Any current/future capex/capital investment/strategic investment?

The company has allocated a total consolidated CAPEX of over ₹300 crore for the next three years, excluding investments in PV manufacturing. The ₹300 crore CAPEX is targeted to be fully invested by December 2026. CAPEX is focused on backward integration in solar PV manufacturing to strengthen captive consumption and supply chain resilience. Investments include expansion of manufacturing facilities with operational plants and plans to add three more units plus acquisition of land for future growth. Besides CAPEX, working capital requirements will increase due to large contracts in rooft

Future growth expectations in sales/revenue/volumes?

Servotech aims to significantly grow its revenue, with Q3 FY25 revenue already at ₹216 crore, a 300%+ YoY increase. A 1.2GW solar PV module manufacturing plant is expected to add around ₹1000 crore in revenue within 7-8 months after becoming operational. The company targets expanding its distribution network to 300 distributors and 6,000 retailers, adding about ₹300 crore in annual revenue from distributors alone. With ongoing projects like solar rooftop systems and EV charging infrastructure, and orders from government schemes (PM Surya Ghar, PM-KUSUM), business is expected to double co

Future growth expectations in earnings/operating earnings/profits/EPS?

Servotech has demonstrated robust revenue growth of over 300% YoY in Q3 FY25, with EBITDA up over 400% and net profit increasing over 700%, indicating strong earnings momentum. The company is optimistic about maintaining and accelerating this growth driven by rising demand in EV charging and solar segments. Management indicated a sustainable growth trend with profitability growth around 50% over four years and revenue growth near 90%, suggesting continued improvement in operating margins. There is a targeted completion of ₹300 crore CAPEX by December 2026 aimed at enhancing capacity and future

Current/ Expected Orderbook/ Pending Orders?

The company has rapidly increased production capacity due to a rise in new opportunities and has acquired new clients, including expansion into Nepal and other international sites. There is a significant pipeline of orders visible through increased work-in-progress across multiple plants and product lines, indicating growth rather than inventory aging. The working capital cycle is targeted to be reduced to 60 days, currently under 78-80 days, supported by debt and profit accruals. Orders from various sectors including CPOs (Charge Point Operators), automobile companies (2-wheelers, 3-wheelers,

Servotech RenewQ3 FY25Electrical Equipment

Servotech Renew Q3 FY25 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹68.45P/E: 41.3Market Cap: ₹1.5K CrSector: Electrical Equipment

Management growth scorecard

Revenue

Category 1

Margin

Category 3

Fundraise

Yes

Order

Yes

Capex

Yes

4 of 5 growth signals are positive — a strong management growth story.

Full analysis

Revenue guidance

Category 1

Servotech aims to significantly grow its revenue, with Q3 FY25 revenue already at ₹216 crore, a 300%+ YoY increase.
A 1.2GW solar PV module manufacturing plant is expected to add around ₹1000 crore in revenue within 7-8 months after becoming operational.
The company targets expanding its distribution network to 300 distributors and 6,000 retailers, adding about ₹300 crore in annual revenue from distributors alone.
With ongoing projects like solar rooftop systems and EV charging infrastructure, and orders from government schemes (PM Surya Ghar, PM-KUSUM), business is expected to double compared to the previous year.
CAPEX of ₹300 crore is planned to be invested and completed by December 2026 to support future growth.
Growth is supported by backward integration in solar manufacturing to improve margins and supply chain resilience.
The company expects continual volume increases and market expansion over the next 1-3 years.

Margin guidance

Category 3

Servotech has demonstrated robust revenue growth of over 300% YoY in Q3 FY25, with EBITDA up over 400% and net profit increasing over 700%, indicating strong earnings momentum.
The company is optimistic about maintaining and accelerating this growth driven by rising demand in EV charging and solar segments.
Management indicated a sustainable growth trend with profitability growth around 50% over four years and revenue growth near 90%, suggesting continued improvement in operating margins.
There is a targeted completion of ₹300 crore CAPEX by December 2026 aimed at enhancing capacity and future revenue streams.
Working capital optimization efforts aim to maintain a cycle under 70-80 days, supporting efficient profit generation.
Expansion into solar PV manufacturing and increasing distributor and retailer networks (targeting 300 distributors and 6,000 retailers) are expected to contribute to earnings growth.
No exact EPS guidance shared; however, management assures significant growth and indicates cautious optimism for continued profitability expansion.

See what Servotech Renew management said on margin guidance — free account, 30 seconds.

Fundraise plans

Yes

The company plans to raise funds before June, targeting around ₹200 to ₹300 crore.
The exact amount is uncertain but fundraising is confirmed.
Fundraising will likely include equity; debt is treated as a separate matter.
Debt financing has already been used to raise working capital to support operations.
The company has engaged in preferential allotments and public fundraising rounds in the past.
No specific details on the number of future fundraising rounds or timelines provided beyond the June target.
Management is confident about the fundraising process and its support for growth and capex requirements.

Order book

Yes

The company has rapidly increased production capacity due to a rise in new opportunities and has acquired new clients, including expansion into Nepal and other international sites.
There is a significant pipeline of orders visible through increased work-in-progress across multiple plants and product lines, indicating growth rather than inventory aging.
The working capital cycle is targeted to be reduced to 60 days, currently under 78-80 days, supported by debt and profit accruals.
Orders from various sectors including CPOs (Charge Point Operators), automobile companies (2-wheelers, 3-wheelers, trucks), and non-oil clients are being actively secured.
A ₹300 crore CAPEX investment is planned over the next three years to support strategic growth initiatives, excluding PV manufacturing investments.
The company is setting up an EV plant with approximately ₹1000 crore investment planned, expected to enhance future order inflows and revenues.

See what Servotech Renew management said on order book — free account, 30 seconds.

Capex plans

Yes

The company has allocated a total consolidated CAPEX of over ₹300 crore for the next three years, excluding investments in PV manufacturing.
The ₹300 crore CAPEX is targeted to be fully invested by December 2026.
CAPEX is focused on backward integration in solar PV manufacturing to strengthen captive consumption and supply chain resilience.
Investments include expansion of manufacturing facilities with operational plants and plans to add three more units plus acquisition of land for future growth.
Besides CAPEX, working capital requirements will increase due to large contracts in rooftop solar and charging infrastructure.
Fundraising plans include raising approximately ₹200-300 crore through equity before June (financial year unspecified).
Strategic research is ongoing in areas like hydrogen, but investments here are cautious and deliberate.
The company aims to expand its distributor network significantly, targeting 300 distributors and 6,000 retailers as part of scaling operations.

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How does Servotech Renew rank vs peers in Electrical Equipment?

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What Servotech Renew's management said in earlier quarters

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