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.