Servotech has begun indigenous manufacturing of EV charger components, aligning with the Make in India initiative, further enhancing our role in India’s clean energy and sustainable infrastructure sectors, articulates Raman Bhatia, Founder and Managing Director of Servotech Power Systems Limited.

Q1: What were the key factors behind the company’s strong 41 percent year-on-year revenue growth in Q1FY25? With net profit growth at 9 percent, what strategies can be implemented to further enhance profitability?

The strong revenue growth was an amalgamation of many factors. However, key factors among them were the growing demand for EV chargers and renewable energy solutions, supported by government initiatives like the FAME scheme, PM Surya ghar muft bijli yojana, etc. The company’s strategic focus on expanding its presence across new markets, coupled with partnerships for large-scale EV infrastructure projects, also contributed significantly to revenue growth.

Additionally, continuous innovation and the introduction of high-tech products in the EV and solar segments helped capture a larger market share. Despite this strong revenue growth, there is room for improving profitability. Strategies to enhance margins include cost optimization through streamlining operations and improving supply chain efficiency, diversification into high-margin product lines, and expanding service offerings such as maintenance or subscription-based models. Furthermore, investing in automation and digital tools can help improve operational efficiency, reduce costs, and enhance overall profitability.

Q2: Could you provide insights into the company’s product portfolio and the contribution of each segment?

The company’s product portfolio majorly includes technologically advanced EV chargers which include a high range of both AC and DC EV Chargers and solar solutions like solar panels, solar inverters, and solar batteries. The company’s major source of revenue comes through EV chargers and solar solutions which are in high demand due to the shift toward sustainable energy.

We want to further capitalize on the growing market by expanding its offerings and scaling its operations in both the EV charging and solar energy sectors, solidifying its position as a key player in the green energy industry.

Q3: What is the company’s current order book, and how is it distributed among clients, particularly Oil Marketing Companies (OMCs)?

Servotech Power Systems Ltd. has a strong and diversified order book, demonstrating high demand for EV charging and solar solutions, especially from Oil Marketing Companies (OMCs). In 2024, the company secured an order for approximately 5,100 units of DC Fast EV chargers from BPCL, IOCL, HPCL, and other EV charger OEMs. Additionally, Servotech has an order for 52 EV charging stations from nodal agencies and DISCOMs.

The company also continues to work on solar projects, including a 1.2 MW Solar Energy Storage and Grid-connected System order from UPNEDA, expanding its presence in the renewable energy sector by promoting solar power solutions nationwide.

Q4: Is the company planning any capital expenditures? Additionally, what are its current top three strategic priorities?

Yes, the company is planning capital expenditures to support its growth in both EV charging infrastructure and renewable energy solutions. Investments will focus on expanding manufacturing capabilities, enhancing R&D for product innovation, and scaling the deployment of solar and EV charging systems.

The company’s top three strategic priorities include:

– Expanding Manufacturing Facility to meet the growing demand for EV chargers and solar energy solutions efficiently handling larger volumes of orders, reducing lead times, and maintaining high-quality standards across its product portfolio.

– R&D and Product Development through investing heavily in research and development to introduce new technologies, such as faster-charging solutions, smart energy management systems, and advanced solar inverters, catering to both domestic and international markets.

– Investment and In-house Development of EV Charger Components to reduce reliance on imports but also enhance the company’s control over product quality, supply chain resilience, and cost efficiencies.

Q5: What is your outlook for India’s electric equipment industry? Also, how does the company plan to leverage opportunities from government initiatives such as Make in India, the FAME Scheme, and the PM Suryodaya Yojana?

The future of India’s electrical equipment industry looks highly promising. According to reports, the market is projected to grow at a CAGR of 11.68 percent from 2023 to 2027, reaching a value of USD 52.98 billion, with the industry expected to double in size by 2030, achieving a market valuation of USD 130 billion.

Key drivers of this growth include the increasing number of residential and commercial building projects, rising power generation from renewable energy sources, and growing investments in the power sector. Servotech is well-positioned to capitalize on these opportunities, leveraging government initiatives like the PM Suryodaya Yojana. As an authorized vendor, the company has partnered with 62 DISCOMs to deliver cutting-edge solar solutions.

Additionally, Servotech has begun indigenous manufacturing of EV charger components, aligning with the Make in India initiative, further enhancing its role in India’s clean energy and sustainable infrastructure sectors.

Originally Published on: https://www.dsij.in/dsijarticledetail/interview-with-raman-bhatia-founder-and-managing-director-of-servotech-power-systems-limited-id004-43026

The electric vehicle (EV) revolution is sweeping the globe as we collectively seek sustainable and eco-friendly transportation solutions. As part of this transformative movement, advanced technologies have emerged to cater to the growing needs of EV owners. One such breakthrough innovation is the Servotech 360kW DC EV charger, an ultra-fast charging station designed to revolutionize the EV charging experience. In this blog, we explore the features, charging capacity, installation process, cost implications, compatibility for all-electric vehicles, and the overall significance of the 360kW DC EV charger.

Features of Servotech 360 kW DC EV Charger

• Ultra-fast charging: Capable of delivering a massive 360 kilowatts of direct current (DC) power.
• Reduced charging time: Significantly cuts down the time required to charge an electric vehicle compared to traditional chargers.
• User-friendly interface: User-friendly design with real-time charging information, payment options, and remote monitoring capabilities.
• Compatibility: Designed to be compatible with all types of electric vehicle models equipped with fast-charging capabilities and suitable charging ports.
• Efficient power management: Utilizes advanced algorithms to optimize power distribution and maintain stability in the electrical grid.
• Liquid-cooled cables: Equipped with liquid-cooled cables to prevent overheating during high-power charging sessions.
• Robust infrastructure: Requires a sturdy electrical infrastructure to handle the high-power demands.
• Long-term investment: Higher initial installation costs but contributes to positive brand image and attracts more EV customers for businesses.
• Fosters EV adoption: Addresses range anxiety and encourage more people to consider EVs as a practical transportation option.
• Current flow: Comes with two charging guns and a smart current flow system. Both guns supply current at the frequency of 180kW each during simultaneous use. On the other hand, if only one gun is connected to a 200 KVA battery pack and the second is free to be connected then the connected gun intelligently draws the rest of the current to charge the battery even faster.          

Charging Time or Capacity

The Servotech 360kW DC EV charger’s greatest strength lies in its charging speed. Depending on the electric vehicle’s battery capacity and compatible charging capabilities, this DC charger can add several hundred kilometers of range in just a few minutes. For instance, an EV can be charged at 0 to 80% capacity within 20-30 minutes, significantly reducing the time spent at charging stations during long trips.

Such rapid charging times effectively address the range anxiety commonly associated with EVs and foster greater confidence among EV owners in their daily commutes and extended journeys.

Read also: The Ultimate Guide to EV Charging

Price of Servotech 360kW EV Charger

While the 360kW DC EV charger brings tremendous benefits, its high-power capabilities also result in higher installation and operational costs compared to standard chargers. The initial investment of around 50-60 lakhs includes equipment costs, site preparation, and electrical infrastructure upgrades to install the Servotech 360kW EV Charger.

However, the cost implications should be viewed from a long-term perspective. For businesses and commercial enterprises, offering ultra-fast charging stations can attract more EV customers and contribute to a positive brand image associated with sustainability and environmental consciousness.

Steps to Install Servotech 360kW DC EV Charger

The installation of a 360kW DC EV charger demands careful consideration of several factors. Firstly, it requires a robust electrical infrastructure capable of handling high-power demands. Collaborating with local utility companies and ensuring sufficient grid capacity is essential to prevent overloading and optimize charging efficiency.

To install a 360kW DC EV charger, follow these steps:

• Site Assessment: Determine a suitable location with proper power capacity and access for vehicles.
• Permits: Obtain necessary permits from local authorities and utility companies.
• Electrical Upgrades: If needed, upgrade electrical infrastructure to handle the charger’s power demand.
• Foundation: Prepare a stable foundation for mounting the charger unit. Ensure the foundation can handle the charger’s weight and any potential load, providing stability and durability throughout its operational life.
• Charger Installation: Mount and connect the charger following manufacturer guidelines.
• Testing: Perform thorough testing of the charger’s functionality and safety features.
• Final Inspections: Get necessary approvals from relevant authorities.
• Signage and Markings: Install clear instructions and markings for users.

Compatibility for All Electric Vehicles

Servotech 360kW EV Charger is compatible with all types of electric vehicle models equipped with fast-charging capabilities and suitable charging ports which provides the full advantage of ultra-fast charging speed for your EV. Thankfully, many modern EV models come with fast-charging support, allowing them to harness the full potential of the high-power charger.

As EV manufacturers continue to innovate and enhance charging capabilities, the compatibility with high-power chargers like the 360kW DC EV charger is expected to become increasingly widespread, further solidifying the position of EVs as a practical and sustainable transportation option.

Conclusion

The 360kW DC EV charger is a game-changing technology that propels the electric vehicle revolution to new heights. With its ultra-fast charging capabilities, user-friendly features, and potential to significantly reduce charging times, it addresses one of the most significant barriers to widespread EV adoption – range anxiety. As more of these high-power chargers are deployed across the world, EV owners can embrace the convenience and sustainability of electric mobility with confidence.
Moreover, the Servotech 360kW DC EV charger encourages businesses and governments to invest in expanding the EV charging infrastructure, fostering a greener and cleaner transportation landscape. As the EV industry continues to evolve, this high-power charging station marks a crucial step towards a more sustainable future, where electric vehicles dominate the roads and contribute to a healthier planet for generations to come.

Read also: How to Open an Electric Car Charging Station in India

The electric vehicle sales charts show that people nowadays prefer buying electric vehicles over traditional vehicles. The decision to drive EVs helps to keep the environment clean and save money against the purchase of expensive fossil fuels. These hi-tech EV cars are recharged through AC or DC chargers. Therefore, EV owners need suitable electric vehicle chargers to charge the batteries of their EVs. It is important for customers to know that automakers manufacture electric vehicles with different charging ports. 

It simply means EV owners need to use compatible chargers for battery charging and escape several inconveniences. Stringent efforts are not needed to find & purchase the appropriate EV chargers. Multiple options for meticulously-engineered chargers are available in the market. Always purchase a genuine charger with high durability to use for years. Here, we will discuss some key points to understand the difference between AC and DC Chargers. 

Key Difference Between AC and DC Chargers

Read this information carefully to understand the key difference between AC and DC chargers. These points will help to make a beneficial decision to fetch big advantages.  

1. AC and DC Charging

Both AC and DC chargers use grid supply to charge electric vehicles but their charging technology is different from each other. The AC charger properly runs on low power connection but delivers slow charging and uses a converter, which is provided inside the car, to convert Alternating Current into Direct Current because batteries only charge with Direct Current. On the other hand, a DC charger requires a high-power connection to deliver a fast charging experience. DC chargers bypass the converter provided inside the car and directly supply power to batteries.

2. Types of EV Chargers

The EV charger manufacturers offer an extensive range of AC and DC chargers for individual EV owners and for commercial charging stations. The EV AC charger range includes 3.3 kW, 7.2/11 kW Type-2, 10 kW Bharat AC-001, and 14 kW Hybrid AC Charger capacities. Similarly, the DC EV charger range comprises options in 15kW, 20kW, 30kW, Dual Gun 60kW, and 120 kW capacities. 

Read also: 5 Benefits of Installing an EV Charger at your Home 

3. Charging time

The EV battery charging time depends upon the requirement of the battery and the type & capacity of the charger. A low-capacity AC charger takes long hours to charge a small battery pack. Due to slow charging, AC charger proves unsuitable for big-size batteries of electric cars and commercial vehicles. On the opposite side, the high-capacity DC charger takes lesser time to charge the large-size batteries of electric vehicles of different segments and helps to overcome range anxieties. Commercial charging stations with DC fast chargers are continuously developing across strategic city locations, rural areas, highways, major routes, and other important locations.    

4. Accessibility to the compatible charger

All AC and DC chargers are easily available in the market but they do not follow similar patterns and work at all places to charge electric vehicles. The low-capacity AC charger works perfectly at home/office parking but high-capacity fast DC chargers are specifically designed to be installed at commercial charging stations. EV owners need to reach commercial charging facilities to charge batteries with high-capacity DC chargers. Consumers pay domestic electricity prices per unit consumed on home/office AC chargers. On the other hand, commercial charging stations require high charging prices to use DC fast chargers.        

5. Cost

The AC chargers are relatively less expensive to install. The price of a low-capacity AC 3.3 kW charger starts from 20-22 thousand and goes up to 70-75 thousand for a 14 kW AC charger. On the other hand, the price of a 15 kW DC charger starts at 3-4 lakhs and goes up to 9-10 lakhs for a 60 kW DC charger. Customers need to spend more money to purchase a 240 kW ultra-fast DC charger. There are more options available for AC and DC chargers. Select a compatible AC charger if you have a low budget and looking to avail the benefits of home charging. Expensive DC chargers prove a good choice for those who are planning to set up a commercial charging station.  

Read also: How to Open an Electric Car Charging Station in India  

Conclusion

AC and DC chargers work according to the different principles of electrical engineering. Therefore, their performance and efficiency differ to a wide extent. This constraint makes it very important to choose a suitable EV charger and use it intelligently to enjoy easy battery charging and smooth driving in your favorite EV. Customers are also suggested to comply with all guidelines of charging to keep the battery safe for long years and escape different kinds of issues. The right selection of AC or DC chargers also helps to save money.