The electric vehicle (EV) infrastructure industry in India is rapidly evolving, driven by the government’s ambitious targets, supportive policies, and increasing consumer interest
Therefore Increased EV chargers support the electric vehicle market by reducing range anxiety, enhancing convenience, supporting diverse use cases, encouraging adoption, and contributing to environmental and economic benefits. These factors collectively create a favorable environment for the growth and sustainability of the EV market.
The Compound Annual Growth Rate (CAGR) of the Indian EV charger market is projected to be 46.5 percent from 2022 to 2030. This significant growth is driven by government initiatives, private investments, and increasing EV adoption in the country
Exicom Tele-Systems
Exicom Tele-Systems Limited is a power management solutions provider that designs, manufactures, and services DC Power systems and Li-ion-based energy storage solutions. It provides overall energy management solutions at telecommunication sites in India as well as Overseas. It has over 4500+ DC chargers successfully installed, across major key points.
With a market capitalization of Rs. 5,370.65 Crores, the shares of Exicom Tele-Systems Limited closed at Rs. 444.50 per equity share, down 1.58 percent from its previous day’s close price of Rs. 451.65.
In the critical power segment, it has a market share of 16 percent in the DC power Systems and 10 percent in the Li-ion Battery applications for the telecom sector market. The business spans India, Southeast Asia, and Africa. It has a market share of 60 percent and 25 percent in the residential and public charging segments
In Addition, recently it has launched one of India’s fastest DC Chargers with up to 400kW named Harmony Gen 1.5 DC Fast Charger. It is bundled with a range of advanced features including an advanced AI-driven remote management system, high operational efficiency, integrated ambient lighting, and many other features focusing on improving customer charging experience.
Its Revenue from operations grew by 68 percent from Rs. 516 Crores in FY23 to Rs. 866 Crores in FY24, accompanied by profits of Rs. 8 Crores to Rs. 66 Crores.
Tata Power Company
Tata Power Company which is a part of the famous Indian conglomerate the Tata Group, is India’s largest vertically integrated power company, primarily involved in the business of generation, transmission, distribution of electricity, manufacturing solar roofs, developing EV charging stations, and many more.
With a market capitalization of Rs. 1,38,693.71 Crores, the shares of Tata Power Company Limited closed at Rs. 434.05 per equity share, down 1.43 percent from its previous day’s close price of Rs. 440.35.
Tata Power Limited offers an end-to-end solution for charging infrastructure development, ensuring the best charging experience, emphasizing lean, customized, and cost-effective design solutions, along with timely execution and comprehensive operation and maintenance (O&M) services for its clients.
Tata Power Renewable Energy Limited (TPREL), a subsidiary of the Company, one of India’s largest integrated renewable energy companies and electric vehicle charging service providers continues to spearhead the nation’s transition towards e-mobility by deploying 850+ charging points in key metropolitan areas.
Its Revenue from operations grew by 11.50 percent from Rs. 55,109 Crores in FY23 to Rs. 61,449 Crores in FY24, accompanied by profits of Rs. 3,810 Crores to Rs. 4,280 Crores.
Servotech Power Systems
Servotech Power Systems Limited is engaged in the business of providing end-to-end solutions for the manufacturing, procurement, and distribution of advanced EV Chargers, solar products, medical devices, energy-efficient lighting solutions, and many more.
With a market capitalization of Rs. 2,391 Crores, the shares of Servotech Power Systems Limited hit a 10 percent upper circuit in the day’s trade at Rs. 107.29, from its previous day’s close price of Rs. 97.54.
Servotech Power Systems has the Capacity to manufacture ~30,000 AC EV Chargers and 12,000 DC EV chargers per year. It has a Strong supply chain network with a presence in over 600+ cities across 21+ Indian States
Its Marquee clientele consists of BPCL, IOCL, HPCL, Nayara Energy, and others and it has Installed more than 5,600+ EV chargers
It generates revenue from sale of AC & DC EV charging units. Additionally, it also generates revenue from the sale of Solar products (solar inverters, solar batteries, solar panels, etc.), LEDs, Medical Devices (Oxygen Concentrator & UVC), inverters, and batteries. Further, it generates revenue from providing maintenance services
As of FY24, it generated 73.98 percent of its revenue from EV Chargers, Solar Products 14.52 percent, Installation services 4.03 percent, Power Backup 3.20 percent, spares 2.56 percent and Medical Devices 1.70 percent.
Its Revenue from operations grew by 22.70 percent from Rs. 249 Crores in FY23 to Rs. 306 Crores in FY24, accompanied by profits of Rs. 11 Crores in both years.
Written by: Bharath K.S
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