Servotech Power Systems rallies 5% on joining hands with German Co; details

Servotech Power Systems share price hit an intraday high of Rs 189.67 per share, rising 5 per cent on the NSE in Monday’s intraday trade. This came after the company said that it has partnered with LESSzwei GmbH to develop a solar-powered EV charging infrastructure for micromobility in Germany. 

 

The electronic vehicle (EV) charger manufacturer, has entered into a strategic partnership with a German enterprise, supporting the German Government in achieving its objectives in the field of sustainable development. 

 

The pact has been signed to develop and deploy innovative 100 per cent solar-powered EV charging infrastructure for micromobility, such as e-bikes, e-scooters, and e-cargo bikes in urban areas of Germany, the company said in a statement. 

 

 

“Servotech will oversee the manufacturing and supply of these Solarpowered 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,” the company said. 

 

On the financial front, Servotech Power Systems reported a 260 per cent rise in net profit, which fell to Rs 11.24 crore in the quarter ended September 2024, compared to Rs 3.12 crore in the same quarter last year. 

 

Total revenue also jumped by 131 per cent, totaling Rs 200 crore for the September 2024 quarter, up from Rs 86 crore in the corresponding period of 2023. Earnings before interest , tax, depreciation and amortisation surged by 223 per cent, increasing from Rs 5.97 crore in Q2FY24 to Rs 19.29 crore in Q2 FY25.

 

The company has a total market capitalisation of Rs 4,180.57 crore. Its shares are trading at a price to earnings multiple of 200 times. 

 

At 12:44 PM; the shares of the company were trading 1.80 per cent higher at Rs 185.65 a piece. By comparison, the NSE’s Nifty50 was down 0.2 per cent at 24,629.35 level. 

 

Servotech Power Systems, an NSE-listed company, specialises in tech-enabled EV charging solutions, drawing on over two decades of expertise in the electronics industry. The company offers a wide range of AC and DC chargers compatible with various electric vehicles, catering to both commercial and domestic applications.