EV-Charger Manufacturer & Solar Solution Provider Stock Hit Upper Circuit As Servotech Announces Exceptional Q2FY25 Financial Performance

From Rs 1.91 to Rs 168.17 per share, the stock delivered multibagger returns of 8,700 per cent in 3 years.

Servotech Power Systems Ltd (NSE: SERVOTECH), India’s largest manufacturer of AC and DC EV Chargers and Solar solutions revealed its impressive financial performance for the quarter ending September 30, 2024, during the board meeting on October 28, 2024.

Consolidated Financial Highlights

Q2 Financial Results

• Total Revenue witnessed stellar growth of 131% in Q2 FY25 to Rs. 20,006.93 lakhs from Rs. 8,659.09 lakhs in Q2 FY24
• EBITDA increased by 223% from Rs. 597.03 lakhs in Q2 FY24 to Rs. 1,929.33 lakhs in Q2 FY25
• Gross Profit increased by 167% from Rs. 1,311.34 lakhs in Q2 FY24 to Rs. 3,507.77 lakhs in Q2 FY25
• PBT stood at Rs.1,533.03 lakhs in Q2 FY25, compared to Rs. 416.99 lakhs in Q2 FY24, witnessing a growth of 268%
• Net PAT stood at Rs.1,124.21 lakhs in Q2 FY25, compared to Rs. 312.40 lakhs in Q2 FY24, witnessing a growth of 260%

H1 Financial Results

• Revenue increased by 88% and stood at Rs.31,250.85 lakhs in H1 FY25 compared to Rs.16,640.45 lakhs in H1 FY24.
• EBITDA increased by 112% from Rs.1,309.93 lakhs in H1 FY24 to Rs.2,783.0 lakhs in H1 FY25
• PAT increased by 117% and stood at Rs.1,573.14 lakhs in H1 FY25 compared to Rs. 723.38 lakhs in H1 FY24
• Gross Profit increased by 92% and stood at Rs. 5546.11 lakhs in H1FY25 compared to Rs. 2888.87 lakhs in H1FY24

Commenting on the results, Raman Bhatia, Founder & MD of Servotech Power Systems Ltd said, “Our exemplary results for Q2 FY25 are the culmination of multiple strategic factors, with a robust order book playing a significant role. Strategic planning, along with timely payments, prompt deliveries, and seamless executions, have collectively driven our success this quarter. Our commitment to timely execution has strengthened the trust our clients place in us.”

He added, “In the EV division, we experienced strong demand for our chargers due to the surge in electric vehicle adoption and the pressing need for expanded EV infrastructure. Our Solar division also gained traction, driven by the growing shift toward sustainable energy. This quarter’s impressive growth reflects our dedication to providing cutting-edge, technology-driven solutions in EV and solar sectors. By consistently enhancing product quality and efficiency, we've solidified our position in the sustainable energy market. We are confident in the promising future ahead and remain dedicated to achieving substantial growth as we work toward becoming a leading player in the global market.”

Earlier, Servotech Power Systems Ltd organized a product launch ceremony for its new series of innovative and high-tech range of solar on-grid inverters, solar hybrid inverters, solar micro inverters, battery energy storage systems, and solar Pump controllers in alignment with central government schemes like PM Surya Ghar Muft Bijli Yojana and PM-KUSUM Scheme for residential and commercial rooftops and empower farmers to harness solar energy and promote sustainable farming practices. These cutting-edge solutions will work in harmony for a more efficient, reliable, and readily available solution for domestic and commercial applications and are designed to meet the growing demand for clean energy and reduce dependency on conventional power sources.

About the Company

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.

On Monday, shares of Servotech Power Systems Ltd hit a 5 per cent upper circuit to Rs 168.17 per share from its previous closing of Rs 160.17 per share. The stock’s 52-week high & all-time high is Rs 205.40 per share. The company has a market cap of Rs 3,748.6 crore. The stock gave multibagger returns of over 130 per cent from its 52-week low of Rs 72.75 per share. From Rs 1.91 to Rs 168.17 per share, the stock delivered multibagger returns of 8,700 per cent in 3 years. In Q2FY25, FIIs bought 9,45,080 shares and increased their stake to 5.95 per cent compared to 5.53 per cent in Q1FY25. Investors should keep an eye on this multibagger EV-charging and solar energy stock.

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