FIIs Increase Stake: Solar-Powered EV Charging Infrastructure Stock; Company to Undergo Name Change; Details Inside
From Rs 0.76 to Rs 170.89 per share, the stock delivered multibagger returns of 2,238 per cent in 5 years.
On Wednesday, shares of Servotech Renewable Power System Limited (Formerly known as Servotech Power Systems Limited) plunged 2.93 per cent to Rs 170.89 per share with an intraday high of Rs 177.99 per share and an intraday low of Rs 168.70 per share from its previous closing of Rs 176.04 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 3,800 crore. The stock gave multibagger returns of over 130 per cent from its 52-week low of Rs 73 per share. From Rs 0.76 to Rs 170.89 per share, the stock delivered multibagger returns of 2,238 per cent in 5 years.
Servotech Power Systems Limited has changed its name to Servotech Renewable Power System Limited effective December 18, 2024. This change is reflected in a "Certificate of Incorporation according to change of name" issued by the Ministry of Corporate Affairs, a copy of which is enclosed. The company's Corporate Identification Number (CIN) remains L31200DL2004PLC129379.
Earlier, the company formed a strategic partnership with LESSzwei GmbH (LESS2), a German company supporting the country's sustainable infrastructure goals. This collaboration, named "EnerMAAS," will establish an innovative 100 per cent solar-powered EV charging infrastructure for micro-mobility vehicles (e-bikes, e-scooters, e-cargo bikes) in German cities. By leveraging AI-driven energy management, the project optimizes energy consumption and minimizes environmental impact. EnerMAAS transforms existing solar systems and energy storage into smart street charging points ("BIKE-Ports") capable of providing 24/7, self-sufficient charging for up to four two-wheelers simultaneously. Funded by the German Federal Ministry for Economic Affairs and Climate Action (BMWK), this 2.7-year initiative will deploy 100 systems across 50 German cities. Servotech will manufacture and supply solar-powered charging stations, while LESS2 will focus on AI and app development.
DSIJ’s 'Multibagger Pick’ service recommends well researched multibagger stocks with High Returns potential. If this interests you, do download the service details here.
About the Company
Servotech Renewable Power System Limited (Formerly known as Servotech Power Systems Limited) 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.