The shares of this EV chargers and solar solutions manufacturing company jumped around 2 percent on Thursday’s trading session after the company announced filing patent applications relating to EV charger technology.
With a market capitalisation of Rs. 1,648 crores, the shares of Servotech Power Systems Ltd started Thursday’s trading session on a higher note at Rs. 78 compared to the previous close of Rs. 76.05, gaining around 2 percent and closed at Rs. 77.45 percent.
Such a positive movement was observed after the company in an exchange filing announced that they had filed two patents in the realm of EV charger technology to revolutionize EV charging infrastructure.
These patents enable users to fast charge any GB/T Bharat DC 001 vehicle based on 72v/96VDC through a CCS2 connector using a small additional gadget. Furthermore, the company mentioned that these two patents have the potential to transform the EV charging infrastructure using two different methodologies, contributing to a robust, interoperable, and cost-effective EV charging ecosystem.
Earlier, the company had also filed two patents intending to facilitate grid service optimization through a battery energy storage system and to effectively channel renewable energy into BESS for maximum value, enabling the transition to sustainable energy.
Coming onto the financial statement of the company, the revenue decreased marginally by 1.5 percent from Rs. 68.14 crores in the June quarter to Rs. 67.12 crores during the September quarter. In addition, the net profits declined by 25 percent from Rs. 4.03 crores to Rs. 3.01 crores during the same timeframe.
Due to consistent operating revenue and profits on a YoY basis, the profitability metrics of the company improved with the return on equity (RoE) increasing from 9.47 percent during FY21-22 to 17.37 percent in FY22-23, and, the return on capital employed (RoCE) zoomed from 12.37 percent to 17.72 percent during the same timeframe. Furthermore, the net profit margin increased from 2.52 percent during FY21-22 to 3.63 percent during FY22-23.
Headquartered in New Delhi, Servotech Power Systems Ltd was incorporated in 2004. The company is engaged in is engaged in manufacturing LED lighting solutions, UPS (uninterruptible power supply) systems, EV charges, inverters, and batteries.
Written By Vaibhav Patil
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