The electric vehicle (EV) market is rapidly evolving, driven by technological advancements, government incentives, and increasing consumer demand for sustainable transportation solutions. The Indian government has been actively promoting the adoption of electric vehicles (EVs) to reduce emissions and improve air quality.
Recently, the government has also approved a new scheme called PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) for the promotion of electric vehicles in India, replacing an earlier flagship scheme. The PM E-DRIVE will have a total outlay of Rs 10,900 crore over a period of two years.
Listed below are such EV stocks with strong management guidance:
With a market capitalization of Rs. 3,856 crores, the shares of electric vehicle (EV) chargers manufacturing company started Friday’s trading session on a higher note at Rs. 162 compared to its previous close of Rs. 157.28.
During the trading session, the shares locked a 10 percent upper circuit at Rs. 173 apiece and also recorded as the company’s fresh 52-week high.
Looking at the company’s financial performance, the revenue decreased by around 18 percent from Rs. 136.17 crores during the March quarter to Rs. 112.19 crores in the June quarter. Contrastingly, the net profits increased by around 30 percent from Rs. 3.46 crores to Rs. 4.49 crores during the same timeframe.
Servotech is currently constructing a cutting-edge manufacturing facility focused on the production of essential EV charger components such as power modules, control circuits, and PLCs. This move aims to reduce reliance on imports and position India as a key player in the global EV charger supply chain.
The company aims to become one of the top 3 companies in the next 2 years and is focused on achieving strategic goals and demonstrating results to investors.
In addition, for FY25, Servotech plans to produce 12,000 DC fast chargers, averaging about 1,000 units per month. The current order book is approximately 8,000 to 8,500 units, reflecting robust demand.
Moreover, the company is targeting a revenue of around Rs. 3,500 crores in the next 4-5 years, planning to increase market share, expand product offerings, and expect a significant increase in revenue by 2024.
JBM Auto Ltd
With a market capitalization of Rs. 24,133 crores, the shares of eclectic buses manufacturing company started Friday’s trading session on a higher note at Rs. 2,020 compared to its previous close of Rs. 1,994.45.
During the trading session, the shares hit a high of Rs. 2,095, gaining around 3 percent and closed the day at Rs. 2,046 apiece.
Looking at the company’s financial statements, the revenue decreased by 23 percent from Rs. 1,486 crores during Q4FY24 to Rs. 1,144 Q1FY25. On the other hand, the net profits declined by around 45 percent from Rs. 62 crores to Rs. 34 crores during the same timeframe.
JBM Auto aims to achieve a total revenue of approximately Rs. 6,500 crore in FY25, a significant increase from Rs. 5,000 crore in FY24. The EV business is expected to contribute around Rs. 3,000 crores to this total, up from Rs.1,750 crore in FY24, marking a growth of about 60 percent in this segment.
Additionally, the company plans to deliver around 2,500 electric buses in FY25, building on the more than 1,000 buses delivered in the previous year. This is part of a broader strategy to capitalize on the increasing demand for electric public transport solutions.
Moreover, the company has secured a robust order book, with over 5,000 buses currently in its pipeline, reflecting strong demand from state governments and municipal bodies transitioning to electric bus models.
Exicom Tele-Systems Ltd
With a market capitalization of Rs. 4,211 crores, the shares of the leading provider of power management solutions company started Friday’s trading session on a flatter note at Rs. 357 compared to its previous close of Rs. 355.65.
During the trading session, the shares hit a low of Rs. 344.15, losing around 3 percent and closed the day at Rs. 346.55 apiece.
Looking at the company’s financial performance, the revenue decreased by around 16 percent from Rs. 301 crores during the March quarter to Rs. 252 crores in the June quarter. On the other hand, the net profits declined by around 33 percent from Rs. 27 crores to Rs. 18 crores during the same timeframe.
Exicom currently holds a 60 percent market share in the residential EV charger segment and 25 percent in the commercial segment within India.
As per reports, Exicom Group plans to derive half of its turnover from its electric vehicle charging solutions business by 2027. This goal would result in a fivefold increase in its EV charging segment, Exicom Power Systems, reaching Rs 1,000 crore by FY28.
Furthermore, the company is targeting to increase its EV Charger revenue from export markets for both DC and AC chargers in Southeast Asia, the Middle East and Europe. It is also investing in developing customised products for the same.
Additionally, Exicom plans to invest an extra Rs. 40 crores in research and development (R&D) over FY25 and FY26, focusing on developing customized products and enhancing its R&D infrastructure, including a vehicle-charger interoperability testing centre.
Moreover, Exicom is exploring inorganic growth opportunities in the EV charging sector to access new markets and innovative charging technologies. This strategic approach is expected to enhance its competitive edge and market presence as the demand for EV infrastructure continues to rise globally.
Written By Vaibhav Patil
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