Working capital strain from government receivables
Receivables increased to ₹243 crore, with ~₹100 crore stuck in OMC and railway projects, pressuring cash flow.
SERVOTECHRENEWABLEPOWERS / bear-case history
Track the concerns that keep returning.
Servotech Renewable Power · risk themes across the available quarters.
Research layer active
Bear-case history
Risks carried through the record.
high
Potential equity dilution via QIP
Management indicated a QIP is under consideration, which could dilute existing shareholders.
Slow ramp-up of lithium battery segment
Battery energy storage revenue is only 1% of total; OEM approvals for e-rickshaw batteries are taking time.
Lack of specific revenue guidance
Management declined to provide any numerical revenue or profit guidance for FY27, citing SEBI guidelines.