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Press Release - November 12, 2021

Servotech Power Systems Ltd. Announces Results for H1 FY22, Net Profit Rises 192% from H1 FY21

Servotech Power Systems Ltd (NSE: SERVOTECH), a leading manufacturer of Solar, LED, Medical Grade devices and UVC products, has its stock expected to trade at 3x the value than it is currently doing. In their Board of Directors meeting held on 12th November 2021, the company announced their half-yearly financial results as of 30th September 2021.

Servotech Power Systems Ltd. generated a revenue of Rs. 51.95 Cr in the first six months of FY22 as against Rs 17.63 Cr in the same period last fiscal, registering a growth of 195%. The company delivered a profit of Rs. 2.41 Cr and EBITDA of Rs. 3.7 Cr. As of September 2021, Servotech’s net debt position was lower by 18% when compared to September 2020.

Also, considering the market benchmark PE Ratio of 29.4%, Servotech’s PE Ratio has improved markedly over the preceding half-year standing at 11.1%, which also hints that the share is largely undervalued and holds a prospect of seeing the considerable surge in the share price.

The same is also substantiated by the dividends that were paid out to the existing shareholders, which was done for the first time since the Company went public. Also, keen market-players are viewing this augmentation to be a potential promising gain. This half-year has been a particularly well-performing one for Servotech as the organization has ventured into several other business streams and hence successfully managed to diversify their scope of operations.

With the outset of the pandemic, Servotech has scaled up its operations especially by expanding its reach over COVID-induced supplies which were a pressing need of the hour during India’s 2nd wave of COVID. Also, considering the massive uncaptured solar market, Servotech finds itself in the perfect position to tap into the huge potential that lies in both commercial and residential verticals, alluding to the fact that there are massive potential gains in sight for them.

Raman Bhatia, Founder & MD, Servotech Power Systems Ltd. said, “The renewable energy sector has seen a boom in demand for solar equipment. We responded with proactive production enhancement projects as a significant participant in the solar industry, and we are currently reaping the fruits of our flexible reaction to demand with an extraordinary half-year. We intend to concentrate on activities aimed at increasing capacity and enforcing digital infrastructure regulations.”

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About Servotech Power Systems Limited:

Servotech Power Systems 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. We 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 our comprehensive engineering capabilities, we plan to play a pivotal role in developing India's EV tech infrastructure. A trusted brand with a strong pan-India presence, our legacy is marked by proven innovation and distribution of high-end LED lighting and UV-C disinfection products, along with medical-grade oxygen concentrators and its makings.

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Prabhutva Tiwari
PR & Corporate Communications

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