On Friday this small-cap stock jumps up to 1.3% after the company entered into an MOU with EMCOR Power Solutions. This stock has delivered 167% & 300% returns in six months and one year respectively, making an investment of 1 lakh six months ago now would be worth Rs. 2.67 lakhs and making the same amount of investment one year ago now would be worth Rs. 4 lakhs.
Servotech Power Systems Limited
With a market capitalisation of Rs. 1,588 Cr, the company belongs to a small-cap category. On Friday the stock gains up to 1.3%, at 11:10 a.m., shares were trading 1% up at Rs. 74.65 on NSE.
According to the NSE filing, Servotech power System Ltd a distinguished name in NSE-listed manufacturer of EV charges in India and EMCORE Power Solution a prominent name in providing remarkable and technologically EV charging CPO solutions and advanced battery have signed an MoU to Revolutionize EV Charging Infrastructure in India.
Under the terms of this MOU, EMCOR Power Solutions commits to providing Servotech Power system with 1000 CPO ( Charge Points Operator) sites in India. Servotech Power System will take on the role of manufacturer and installer of 30KW and 60 KW and even higher capacity DC fast EV chargers, strategically distributed across India to cater to the varying power requirements of different locations.
As per the company filing, total revenues grew by 148% from Rs. 32.06 Cr in Q1 FY23 to Rs. 79.81 Cr in Q1 FY24 and the company reported a net profit of Rs. 4.10 Cr in Q1 FY24 against a profit of Rs. 0.35 Cr in Q1 FY23..
As per the latest shareholding data, Promoters hold 60.60%, Public hold 29.97%, and FIIs hold a 9.42% stake in the company.
Servotech Power Systems is a firm that creates tech-enabled EV charging solutions by using their over two decades of experience and skill in the electronics industry. It provides a wide range of AC and DC chargers that are compatible with various EVs and perform several applications such as commercial and residential.
Written by Sheshadri N
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