India’s Largest EV Charger Manufacturer- Servotech Power to Build 12 EV Charging Stations for ANERT, Government of Kerela

From Rs 2.50 to Rs 136.89 per share, the stock delivered multibagger returns of 5,376 per cent in 3 years.

Today, shares of Servotech Power Systems Ltd jumped gained 4.7 per cent to Rs 136.89 per share from its previous closing of Rs 130.76 per share. The stock’s 52-week high is Rs 141.82 while its 52-week low is Rs 69.50 with a market cap of over Rs 3,000 crore. From Rs 2.50 to Rs 136.89 per share, the stock delivered multibagger returns of 5,376 per cent in 3 years.

Servotech Power Systems Ltd., India’s largest EV Charger manufacturer, has secured a substantial contract for installing 12 EV charging stations from the Agency for New and Renewable Energy Research and Technology (ANERT), Department of Power, Government of Kerala. Under this contract, Servotech has to build 12 electric vehicle (EV) charging stations with 30KW Fast DC EV Chargers at the various locations of the Kerala Motor Vehicle Department. This contract involves Servotech supplying, commissioning, and construction of EV charging stations. This pilot project whose execution has already begun will be executed in phases with the 1st phase involving the installation of 4 EV charging stations and the 2nd phase will involve the installation of 8 EV charging stations. This initiative will prove to be beneficial in facilitating Kerala’s shift towards sustainable transportation solutions by substantially improving the state’s EV charging network. As the demand for EV mobility grows, there is a corresponding requirement for convenient and accessible charging infrastructure for electric vehicles. These charging stations will enable EV owners to recharge their vehicles conveniently while on the move

Earlier, Servotech Power Systems Ltd. secured a substantial order worth approximately Rs 10.20 crore from the Rural Development Department of Uttar Pradesh and UPNEDA for the deployment of solar energy storage and grid-connected systems. This order entailed the installation of multiple 75 kW solar-based energy storage systems and 20-40 kW grid-connected solar power systems, contributing significantly to the state's renewable energy goals. Building upon its previous collaboration with UPNEDA, Servotech further solidified its position as a pivotal player in India's renewable energy landscape. Additionally, the company secured an additional Rs 20 crore order for 400 DC fast EV chargers from BPCL and other OEMs, bringing its total order from BPCL to 2000 units valued at Rs. 140 crore. Moreover, Servotech, in partnership with INCHARZ and Prateek Group, is actively expanding India's EV infrastructure by installing AC and DC EV charging stations at Prateek's properties, catering to two-wheelers, three-wheelers, and four-wheelers. These initiatives collectively demonstrate Servotech's unwavering commitment to driving sustainable energy solutions and contributing to the country's green energy transition.

About the Company

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.

In Q1FY25, FIIs bought 70,06,711 shares and increased their stake to 5.53 per cent compared to 2.45 per cent in Q4FY24. 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.