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Multibaggeer Stock engaged in the business of providing end-to-end solutions for Solar power products, LED lights and many more hit a 5 percent upon receiving a work order worth Rs. 120 Crores from BPCL. 

With a market capitalization of Rs. 1,736 Crores, the shares of Servotech Power Systems Limited hit a 5 percent upper circuit at Rs. 86.30 from its previous day’s close price of Rs. 82.20. It has delivered multibagger returns of 271 percent in a year. 

Servotech Power Systems Limited has received a major work order worth Rs. 120 Crores from Bharat Petroleum Corporation Limited (BPCL) for strategically deploying 1800 DC fast EV chargers across the nation at BPCL petrol pumps in major cities, as part of the BPCL E-drive Project. 

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This project encompasses 60 kW and 120 kW and Servotech aims to complete this extensive project by the end of 2024 and the overarching goal is to ensure convenient access to the expanding EV charging network. 

Serovtech Power Systems and BPCL had previously worked together to transform the E-Mobility landscape and it had also bagged an order to supply and install 2649 AC EV Chargers at different locations across the country for BPCL’s E-drive project. Servotech has already completed 36% of supply and installation and the entire project will be completed by March 24. 

Servotech Power Systems Limited is engaged in the business of providing end-to-end solutions for the manufacturing, procurement, and distribution of advanced solar products, medical devices, energy-efficient lighting solutions, and many more. 

It has reported a return on equity (ROE) of 16.8 percent and a return on capital employed (ROCE) of 17.7 percent, it is making good returns on its equity and capital employed. 

Its revenue from operations grew 86 percent from Rs. 134 Crores in FY22 to Rs. 249 Crores in FY23, accompanied by increasing profits of Rs. 4 Crores to Rs. 11 Crores. 

Written by: Bharath K.S 

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