EV stock engaged in the business of providing end-to-end solutions for the manufacturing, procurement, and distribution of advanced EV Chargers, solar systems, and many more hit a 5 percent upper circuit in the day’s trade upon declaring robust Q2FY25 results with a 260 percent jump in Net Profits.
Price Action
With a market capitalization of Rs. 3,935.82 Crores, the shares of Servotech Power Systems Limited hit a 5 percent upper circuit at Rs. 176.57 per equity share, from its previous day’s close price of Rs. 168.17.
Q2FY25 Results
Its Revenue from operations grew by 133 percent YoY from Rs. 85.92 Crores in Q2FY24 to Rs. 199.66 Crores in Q2FY25 and it grew by 78 percent QoQ from Rs. 112.19 Crores in Q1FY25 to Rs. 199.66 Crores in Q2FY25.
Its Net Profit grew by 260 percent YoY from Rs. 3.12 Crores in Q2FY24 to Rs. 11.24 Crores in Q2FY25 and it grew by 151 percent QoQ from Rs. 4.48 Crores in Q1FY25 to Rs. 11.24 Crores in Q2FY25. Its Net Profit Margin increased from 3.60 percent in Q2FY24 to 5.61 percent in Q2FY25.
Recent Collaboration
Servotech Power Systems Limited has recently signed a sole distribution agreement with Ensmart Power to expand its EV charger distribution network across the UK and beyond, including North America.
Commenting on the results, Raman Bhatia, Founder & MD, Servotech Power Systems Ltd. said,
“Our exemplary results for Q2 FY25 are the culmination of multiple strategic factors, with a robust order book playing a significant role. Strategic planning, along with timely payments, prompt deliveries, and seamless executions, have collectively driven our success this quarter. Our commitment to timely execution has strengthened the trust our clients place in us.”
“In the EV division, we experienced strong demand for our chargers due to the surge in electric vehicle adoption and the pressing need for expanded EV infrastructure. Our Solar division also gained traction, driven by the growing shift toward sustainable energy.
This quarter’s impressive growth reflects our dedication to providing cutting-edge, technology-driven solutions in EV and solar sectors. By consistently enhancing product quality and efficiency, we’ve solidified our position in the sustainable energy market.
We are confident in the promising future ahead and remain dedicated to achieving substantial growth as we work toward becoming a leading player in the global market.”
About the Company
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 systems, solar-related products, medical devices, energy-efficient lighting solutions, and many more.
Servotech Power Systems has the installed capacity to manufacture ~60,000 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 Tata Motors, Morris Garages, Tata Power, BPCL, IOCL, HPCL, Nayara Energy, NCC, Adani E-Mobility, Techbec, and many others.
Written by: Bharath K.S
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