Servotech Renewables' Chief Operating Officer Prem Prakash told an August 2026 interview that EV chargers fell from roughly 42 to 43 percent of revenue in Q4 FY26 to about 2.5 percent in Q1 FY27, while solar products rose to 94.8 percent from around 51 percent. He attributed the shift to project execution timelines rather than strategy, saying EV charger revenue fluctuates with central and state government policies and demand cycles. The firm is expanding into batteries, energy storage and Dubai as part of a wider clean energy push.
Why it matters: Sharp quarterly swings in charger revenue highlight how dependent Indian suppliers remain on government procurement cycles and project phasing. Buyers and funders tracking Servotech's pipeline should watch for policy announcements that could reverse the Q1 mix in coming quarters.
Servotech RenewablesUnited Arab EmiratesIndia7 Aug 2026Source India's Ministry of Heavy Industries told Parliament on 7 August that the PM E-DRIVE scheme has supported the sale of 26,54,172 electric vehicles as of 22 July, while 52,718 public EV charging stations had been installed nationwide by 29 July. Running from 1 April 2024 to 31 March 2028, the scheme has also allocated 14,000 electric buses and 7,250 EV chargers, with a focus on demand incentives, State Transport Undertaking bus deployment, public charging infrastructure including rural areas, and vehicle testing upgrades.
Why it matters: The figures confirm a large scale rollout of public charging points under central government backing, signalling sustained procurement opportunities for charge point operators and equipment suppliers targeting both urban and rural tenders. The parallel allocation of thousands of buses and chargers points to coordinated fleet and infrastructure contracts over the next four years.
