Servotech Renew Q4 FY26: Revenue up 66.6% YoY

Results announcement and why it matters

Servotech Renewable Power System Ltd. (NSE: SERVOTECH) reported its financial results for the fourth quarter and year ended 31 March 2026. The update matters because the company operates across solar solutions, battery energy storage systems (BESS), and EV charging equipment, segments where margins and working capital cycles can shift quickly. The company characterised FY26 as a “transformational year” and highlighted an ongoing shift toward higher-margin renewable and EV businesses. The reported numbers show a sharp year-on-year jump in Q4 profitability metrics on a standalone basis. At the same time, consolidated full-year revenue stayed broadly flat, reflecting the company’s stated scale-down of low-margin trading in its medical equipment subsidiary. Investors also have near-term signals to track, including the board’s recommendation of a final dividend of ₹0.02 per share.

Q4 FY26 standalone performance

On a standalone basis, Servotech reported total revenue of ₹211.20 crore in Q4 FY26, up 66.6% year-on-year from ₹126.74 crore in Q4 FY25. EBITDA rose 70.16% to ₹23.20 crore from ₹10.51 crore in the year-ago quarter. The company also reported gross profit of ₹42.22 crore in Q4 FY26, up 58.24% from ₹26.68 crore. Reported standalone quarterly numbers for the March 2026 quarter showed net sales of ₹209.64 crore versus ₹126.13 crore in March 2025. For the same period, quarterly net profit increased to ₹11.73 crore from ₹7.85 crore, and standalone EPS rose to ₹0.52 from ₹0.35. EBITDA for the March 2026 quarter was reported at ₹23.20 crore, compared with ₹13.63 crore in March 2025.

Q4 FY26 consolidated performance

On a consolidated basis, the company reported total revenue of ₹219.00 crore in Q4 FY26, up 48.52% year-on-year from ₹147.46 crore in Q4 FY25. Consolidated EBITDA rose 80.86% to ₹24.20 crore from ₹10.50 crore. Consolidated gross profit was reported at ₹47.87 crore in Q4 FY26, up 72.18% from ₹27.80 crore. Separately, another results summary for the quarter stated sales of ₹236.67 crore versus ₹156.66 crore a year ago and revenue of ₹219.00 crore versus ₹147.46 crore. The same summary reported net income of ₹12.28 crore versus ₹7.79 crore and basic EPS of ₹0.54 versus ₹0.35.

FY26 standalone: revenue growth and margin expansion

For FY26 on a standalone basis, the company reported total revenue of ₹641.66 crore, up 8.92% from ₹589.11 crore in FY25. Standalone EBITDA rose 26.54% to ₹74.19 crore from ₹58.63 crore. The company stated that the EBITDA margin expanded to 11.56% from 9.95%, an improvement of 161 basis points. FY26 standalone gross profit was reported at ₹148.51 crore, up 27.39% from ₹116.57 crore in FY25. These figures indicate that profitability improved faster than revenue in FY26 on a standalone basis.

FY26 consolidated: flat revenue, higher EBITDA

For FY26 on a consolidated basis, total revenue was reported at ₹675.36 crore versus ₹676.80 crore in FY25, described as broadly flat. The company attributed this to a deliberate reduction in low-margin trading activity in its medical equipment subsidiary, Rebreathe Medical Devices, while focusing capital on higher-margin core renewable and EV businesses. Consolidated EBITDA increased 22.46% to ₹70.95 crore from ₹57.94 crore. Profit after tax attributable to shareholders rose 2.5% to ₹33.55 crore from ₹32.74 crore. Consolidated gross profit grew 39.72% to ₹162.45 crore from ₹116.26 crore.

Dividend and management commentary

The board recommended a final dividend of ₹0.02 per share, which the company-linked commentary framed as a confidence signal alongside the business mix shift toward EV and solar. Management commentary also described a strong finish to the year, citing the Q4 acceleration in standalone revenue and EBITDA growth rates. The company’s communication emphasised that the year’s improvement was linked to operational execution rather than a one-off item. These statements align with the reported pattern of higher growth in EBITDA relative to revenue in both standalone and consolidated Q4 metrics.

Quarterly reference points: December 2025 and September 2025

The broader quarterly trail includes mixed datapoints. Standalone net sales in December 2025 were reported at ₹201.64 crore, up 11.2% year-on-year. In contrast, consolidated net sales in September 2025 were reported at ₹106.49 crore, down 46.66% year-on-year. For Q3 FY26, the company also cited standalone revenue of ₹202 crore, EBITDA of ₹27 crore, and PAT of ₹14.7 crore, while consolidated revenue was ₹212 crore with EBITDA of ₹28.5 crore and PAT of ₹15.5 crore for that quarter. These figures show that quarterly performance has varied meaningfully across the year.

Stock performance snapshot

Servotech Renew shares closed at ₹94.93 on 29 April 2026 on the NSE. The stock has delivered returns of -21.77% over the last six months and -22.19% over the last 12 months, based on the data provided. This market performance sits alongside the strong year-on-year Q4 growth rates and highlights that price action over the past year has not tracked the latest quarter’s improvement.

Key numbers table

Market impact and what investors will track next

The reported Q4 numbers show a sharp year-on-year improvement in operating profitability, visible in both standalone and consolidated EBITDA growth. At the full-year level, the split between standalone revenue growth and flat consolidated revenue is an important detail, given the company’s explanation about scaling down low-margin trading in a subsidiary. Investors typically watch whether improved gross profit and EBITDA translate into steadier full-year profit growth, and the company reported FY26 PAT attributable to shareholders at ₹33.55 crore versus ₹32.74 crore in FY25. Another near-term focus is the sustainability of the margin expansion cited for FY26 standalone EBITDA margin at 11.56% compared with 9.95% in FY25. The dividend recommendation of ₹0.02 per share is a clear, disclosed corporate action tied to these results.

Conclusion

Servotech Renewable’s Q4 FY26 showed strong year-on-year growth in standalone revenue, EBITDA, and profit, alongside a meaningful improvement in consolidated Q4 profitability. For FY26, standalone revenue and EBITDA rose, while consolidated revenue remained broadly flat as the company reduced low-margin trading activity in a subsidiary. The next set of updates investors will watch include follow-through on the company’s stated focus on higher-margin renewable and EV businesses and any further disclosures around business mix and profitability drivers.