An FII-Eminence Global Fund PCC is allotted 15,00,000 equity shares on conversion of warrants of this solar product and EV chargers manufacturing company!

From Rs 1.90 to Rs 84.90 per share, the stock delivered multibagger returns of over 4,300 per cent in 3 years.

Servotech Power Systems Ltd, a manufacturer of EV chargers and solar products, allotted 15,00,000 equity shares to non-promoter/public category investors (Eminence Global Fund PCC-EUBILIA Capital Partners Fund) upon conversion of warrants. These warrants were part of a larger allotment of 89,00,000 warrants issued in January 2024. The investor paid Rs 62.55 per warrant, representing the remaining 75 per cent of the issue price (Rs 83.40) after an initial payment of 25 per cent was made at the time of allotment. This conversion increased the company's issued capital and there are still 29,00,000 warrants outstanding that can be converted to equity shares within 18 months from the date of allotment.

About Servotech Power Systems Ltd

Servotech Power Systems, a trusted brand with a nationwide presence on the NSE, has over 20 years of experience in electronics. They leverage this expertise to design and manufacture cutting-edge AC and DC charging solutions for electric vehicles. Their chargers cater to both commercial and domestic applications, ensuring compatibility with a wide range of EVs. With its comprehensive engineering capabilities, Servotech is positioned to be a key player in building India's EV charging infrastructure. Backed by a history of innovation and advanced technology development, Servotech is committed to shaping the future of e-mobility in India.

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Servotech Power Systems capped off a positive fiscal year with a solid performance in Q4FY24. Their net sales jumped significantly by 161.7 per cent compared to the previous quarter, reaching Rs 136.65 crore. This strong showing continues a trend of year-over-year growth, with a 13.9 per cent increase compared to Q4FY23. While net profit for Q4FY24 did see a decrease year-over-year, it's important to note the substantial growth of 210.8% when compared to Q3FY24. This momentum points towards a company on an upward trajectory.

Looking at the full fiscal year (FY24), Servotech Power Systems continued to impress. Their net sales grew by a robust 27.49 per cent to Rs 355.26 crore, fuelled by the increasing demand for their innovative solutions in the solar and electric vehicle sectors. This focus on cutting-edge technology is paying off, as evidenced by the growth in profit after tax (PAT) by 6.69 per cent and a healthy 18.05 per cent increase in EBITDA. This financial strength is further bolstered by their expanding operations and the introduction of higher-value products.

The 52-week high of the stock is Rs 108.70 and the 52-week low of Rs 40.13 with a market cap of Rs 1,777 crore. From Rs 1.90 to Rs 84.90 per share, the stock delivered multibagger returns of over 4,300 per cent in 3 years. Investors should keep an eye on this multibagger EV stock.

Disclaimer: The article is for informational purposes only and not investment advice.