Servotech Power Share: The company giving 300% return in one year signed a contract with Adani for EV charger, get ready to become rich

News: Servotech Power Share has been on an impressive streak lately, delivering a remarkable 300% return in just one year. Although the stock is currently experiencing a slight consolidation phase, there’s optimism for another potential rise in the near future. The latest development comes with the announcement of a contract between Servotech Power and Adani’s subsidiary, Adani Total Energy Immobility Limited, focusing on the installation of electric vehicle chargers. Let’s delve into more details about this exciting update in Servotech Power News.

In the past 52 weeks, Servotech Power Share has seen significant growth, with returns soaring to 560%. This upward trend showcases the company’s strong performance, with returns of 12.7% in the last week, 27.9% in a month, and an impressive 837% over two years. Moreover, in a span of five years, the share has multiplied investors’ money by a staggering 40 times. For instance, a ₹100,000 investment could now yield ₹40 lakh. As of February 7, 2024, Servotech Power Share is valued at Rs 97.

Examining the stock’s 52-week range, we observe a low of Rs 16.48 and a high of Rs 108.70. This indicates a remarkable 560% return from the lowest to the highest point in the past year.

Business Overview of Servotech Power Systems Ltd.

Servotech Power Systems Ltd. operates primarily in the EV Charger segment, Solar Products segment, Power & Backup segment, and LED Bulbs segment. The company manufactures AC and DC chargers for electric vehicles, solar-related products such as inverters, batteries, and panels, as well as power backup solutions like UPS and stabilizers. Additionally, it offers a range of LED products for domestic and commercial use, along with services including the installation of Oxygen Concentrators and UPS.

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Partnership with Adani Total Energy e-Mobility Limited

Servotech Power Systems has inked a significant agreement with Adani Total Energy e-Mobility Limited to supply its EV charging devices. These chargers will be strategically installed at various locations, including airports, facilitating convenient charging for electric vehicle owners. This initiative aligns with the Indian government’s push towards eco-friendly transportation solutions.

Contract with Bharat Petroleum

In another development, Servotech Power Systems secured an order worth Rs 120 crore from Bharat Petroleum Corporation Limited to supply and install 1800 DC fast EV chargers at its petrol pumps across major cities.

December Quarter Results

The company’s financial performance for the December quarter showed a decline in both revenue and profit compared to previous periods. Despite this setback, the company has demonstrated consistent growth over the years, with a 21.8% CAGR in profit and a sales growth rate of 29.9% over the past decade.

Shareholding Pattern

As for the shareholding pattern, the promoters hold a substantial 60.60%, while the public holds 39.40%. Foreign institutional investors (FIIs) account for 4.82%, while domestic institutional investors (DIIs) have no stake. Non-institutional and retail investors hold 34.58%.

While there have been some fluctuations in the company’s financials, Servotech Power Systems has shown resilience and continues to pursue growth opportunities in the EV charging and renewable energy sectors. Investors should consider the company’s strong performance history and its strategic partnerships in assessing its long-term potential.