Solar-Powered EV Charging Infrastructure Company - Servotech Partners with LESSzwei GmbH for Micro-Mobility in Germany
From Rs 0.79 to Rs 189.67 per share, the stock delivered multibagger returns of 2,391 per cent in 5 years.
Servotech Power Systems Ltd., India’s largest EV Charger manufacturer, has entered into a strategic partnership with LESSzwei GmbH (LESS2), a globally acting German enterprise that supports the German Government in achieving its objectives in the field of sustainable development in the infrastructure sector, to develop and deploy innovative 100% solar-powered EV charging infrastructure for micro-mobility, such as e-bikes, e-scooters, and e-cargo bikes in urban areas of Germany
This project, named "EnerMAAS", will create a sustainable and scalable charging ecosystem. It utilizes AI-driven energy management systems to optimize energy use and reduce environmental impact. EnerMAAS will focus on transforming existing photovoltaic systems and energy storage into innovative street charging points (BIKE-Ports). These stations will provide self-sufficient energy from 100 per cent solar power for fast and reliable charging around the clock. Each station can simultaneously charge 4 two-wheelers with a total output of 3.3 kW. This project has received grant financing from the Federal Ministry for Economic Affairs and Climate Action (BMWK), Germany with a duration of 2.7 years.
Servotech will oversee the manufacturing and supply of these Solar-powered EV charging stations. LESS2 will focus on all aspects of Artificial Intelligence and app development. Servotech will initially provide the first 100 systems, with two charging stations being deployed in each of 50 selected cities across Germany. This partnership marks a significant step towards creating a more sustainable and efficient urban transportation system. By combining Servotech’s expertise in solar energy and EV charging with LESSzwei GmbH’s innovative IT Technology and energy management solutions, the two companies are poised to deliver a transformative solution for the growing German micromobility market.
Raman Bhatia, Founder & Managing Director of Servotech Power Systems Ltd, said, “We are excited to partner with LESSzwei GmbH on this groundbreaking project. This collaboration aligns perfectly with Servotech’s vision of accelerating the adoption of sustainable energy solutions and establishing a strong international footprint. By leveraging our expertise in solar energy and EV charging infrastructure, we are confident that the EnerMAAS project will revolutionize the way we power micromobility in German urban areas.”
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About the Company
On Thursday, shares of Servotech Power Systems Ltd surged 4 per cent to an intraday high of Rs 189.67 per share from its previous closing of Rs 182.36 per share. The stock’s 52-week high & all-time high is Rs 205.40 per share. The company has a market cap of over Rs 4,000 crore. The stock gave multibagger returns of over 150 per cent from its 52-week low of Rs 73 per share. From Rs 0.79 to Rs 189.67 per share, the stock delivered multibagger returns of 2,391 per cent in 5 years.
Servotech Power Systems is an NSE-listed organization that develops tech-enabled EV Charging solutions leveraging their over two decades of experience and expertise in the electronics space. The company offer an extensive range of AC and DC chargers which are compatible with different EVs and serve multiple applications such as commercial and domestic. With comprehensive engineering capabilities, we plan to play a pivotal role in developing India's EV tech infrastructure. As a trusted brand with a strong pan-India presence, its legacy is marked by proven innovations and the development of advanced technologies.
In Q2FY25, the company witnessed stellar growth. Total revenue surged by 131 per cent, reaching Rs 20,006.93 lakh from Rs 8,659.09 lakh in Q2FY24. EBITDA increased by 223 per cent, reaching Rs 1,929.33 lakh from Rs 597.03 lakh. Net PAT soared by 260 per cent, reaching Rs 1,124.21 lakh compared to Rs 312.40 lakh in Q2FY24. Additionally, in H1FY25, the company witnessed strong growth. Revenue increased by 88 per cent, reaching Rs 31,250.85 lakh from Rs 16,640.45 lakh in H1FY24. EBITDA increased by 112 per cent, reaching Rs 2,783 lakh from Rs 1,309.93 lakh. Net PAT increased by 117 per cent, reaching Rs 1,573.14 lakh from Rs 723.38 lakh in H1FY24.
In October 2024, FIIs increased their stake to 5.95 per cent compared to 5.53 per cent in September 2024. Investors should keep an eye on this multibagger solar stock.
Disclaimer: The article is for informational purposes only and not investment advice.